HOWARD COMMUNITY COLLEGE FINANCIAL AID SERVICES You Can Afford College! 1.

HOWARD COMMUNITY COLLEGEFINANCIAL AID SERVICES

You Can Afford College!1

What is Financial Aid?

Gift Aid

Grants

Scholarships

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Definition of Financial Need

COA

EFC

Financial

Need

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Cost of Attendance (COA)4

COA

Room & Board

Books & Supplies

Tuition & FeesTransport

ationMiscellaneous

Expenses

Expected Family Contribution (EFC)5

What is it? Assigns a “number” based on financial situation that

the family can “expect” to contribute to the student’s COA.

It is calculated according to a formula established by federal law and does NOT change based on institution attending.

How is it calculated? Information the family reports on the student’s Free

Application for Federal Student Aid (FAFSA). Looks at family's taxed and untaxed income, assets,

benefits , family size and number in college.

S T U D E N T M U S T :

be a U.S. Citizen or Eligible Non-Citizen

have a valid Social Security Number

demonstrate you are qualified to enroll in postsecondary education (e.g.

have a high school diploma or GED)

be enrolled in an eligible degree program

not be in default on any Federal Student Loan

register with Selective Service if you are a male between the ages of 18 and

25

certify that you will use federal student aid for educational purposes

maintain Satisfactory Academic Progress

Federal Financial Aid Basic Eligibility Requirements

Note: Other conditions may apply

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www.pin.ed.gov & www.fafsa.gov 7

WHAT YOU WILL NEED:

1. Your soc ia l secur i ty number

2. Your federa l s tudent a id p in

3. Your fi nanc ia l records

4. An emai l address

5. About an hour o f your t ime

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Completing the Free Application for Federal Student Aid (FAFSA)

Sources of Financial Aid

Federal

Grants (FAFSA)Work Study (FAFSA)Loans (FAFSA & Application)

State

Grants (FAFSA & Application)Scholarships (Application)

Institutional

Grants (FAFSA)Work Study (FAFSA)Scholarships (Application)

Private

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Federal Financial Aid

Grants PELL Grant (up to $5,550/year) Supplemental Education Opportunity Grant

(SEOG) (up to $1,200/year)

Work Study Need based award provides funds earned

through part-time employment on and off campus (earn up to $3,500/year)

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Federal Loan Programs

Stafford Student Loan Subsidized Stafford Loans (Need Based)

Government pays the interest while in college and during the 6 month grace period after graduation, leave school or enroll less than half time.

Unsubsidized Stafford Loans Student is responsible for paying all of the interest on the loan

(even though payments not required until 6 months after graduation, leave school or enroll less than .)

Parent PLUS Ability to choose to defer payment while dependent child is

in school. Up to Cost of Attendance (COA) less other aid received

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Maryland Higher Education Commission

Grants and Scholarships Maryland Higher Education Commission (MHEC) administers

over 20 programs for the State of MD Parent and student must be a Maryland State Resident Some programs require an additional application available on

MHEC’s website (www.mhec.state.md.us)

Examples of State Aid

Need-based (file the FAFSA by March 1st each year): Educational Assistance Grant (up to $3,000 /year) Guaranteed Access Grant (up to $14,300/year) Part-Time Grant (up to $2,000/year)Legislative: Senatorial (range from $200-$9,000/year) Delegate (range from $200-$9,000/year)

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www.mhec.state.md.us13

https://mdcaps.mhec.state.md.us14

Institutional Aid

GrantsGrants from the institution based on need

Work Study Institutional Work Study

ScholarshipsAwarded by the institution based on various criteria

Financial NeedAcademic MeritLearning ProgramSpecial Skills or TalentsVolunteer Experience

**PAY CLOSE ATTENTION TO DEADLINES**

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Private Sources

Financial aid funding that comes from private organizations

Civic Organizations

Professional Associations

Private Businesses

Funds may or may not be awarded through Financial Aid Services

Use reliable scholarship search services

http://www.fastweb.com

http://www.collegeboard.com/student/pay

http://www.finaid.org

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Ways to Pay for College17

Cash, Check or Money Order

Tuition Payment Plans

529 Savings & Prepaid Tuition Programs

Employer Tuition Reimbursement Plan

Military Tuition Assistance

Veterans Benefits and Veterans Deferred Payment Plan

Tuition Waivers

Alternative Loans

Reliable Sources of Financial Aid

Howard Community College’s Financial Aid Services Department – community resource RCF – 222 HCC’s Financial Aid website

Publications The Guide to Federal Student Aid Maryland Higher Education Commission

Other websites that end in: gov ed edu ed.gov

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Financial Aid Services

Located in RCF- 222Phone: 443-518-4912Fax: 443-518-4576E-Mail: [email protected]:

Go to www.howardcc.edu Select “Admissions & Enrollment” tab Click on “Pay for College” Select “Financial Aid Services” on the left column

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