Paying For College Presented by Alamance Community College

Let’s Talk Money Grants- You don’t have to pay these back! State and Federal Loans- these must be paid back! Student loans, forgivable loans, private loans Scholarships- Inside and Outside Work-study- Working while in school NC REACH- Financial Aid for students in foster care Veterans Benefits- your parents may have benefits YOU can use * For all of these types of aid, you must complete a FAFSA- National Financial Aid Application

FAFSA: How to get started Online, Over the phone, FAFSA DAY-October 29 (9a.m.-noon), ACC Workshops FREE FREE FREE The earlier you apply, the more financial aid you will receive Most schools have a deadline on or before March 15th You must reapply EVERY YEAR 2017/18 FAFSA Application will open up on October 1, 2016 Not sure if or where you are going to college? Apply anyway!

How to Apply for Financial Aid Create FSA ID fsaid.ed.gov Apply on FAFSA website fafsa.ed.gov Separate applications for state, institutional, and external scholarships may be required

What Will I Need? Your tax return (include your parents if you are under the age of 24) Who is a parent? Biological parents married, biological parents not married but living together, biological parent and step parent, adoptive parents, same-sex married parents, same-sex one biological and one adoptive parent W-2 forms Social security number Special Circumstances- has your family situation changed? (job loss, divorce, death, reduced hours, job change…) FSA ID

FAFSA: What happens next? Financial Aid is a 2 step process Step 1-Apply Step 2- Paperwork You will receive a letter from the financial aid office listing additional paperwork needed to complete your file Don’t understand what the school is asking for? Call and ask for help You should ALWAYS hear from the financial aid office-if not, YOU should call them

SAP ( Satisfactory Academic Performance) Rules for the grants Alamance Community College SAP policy You must maintain a 2.0 on a 4.0 scale and complete 67% of classes If you fail to maintain these minimum standards, your Financial Aid package will be suspended Many grants will only pay for 150% of hours needed to graduate ( only 30hrs of development courses) Life Time Limits on the Pell Grant- 6 years

Financial Aid FAQ’s You do not have to be full time to get financial aid. Your award will be adjusted to match the hours you are taking You will lose your financial aid if you do not abide by the college and federal policies for aid EVERYTIME you drop or fail a class, you risk losing your financial aid. EVERYTIME Financial aid does not automatically transfer from one school to another College courses you take while you are still in high school can affect your financial aid