FINANCIAL AID 101 Trina Smith-Patterson Director, Financial Aid Your Logo Here FINANCIAL AID 101 Trina Smith-Patterson Director, Financial Aid Tarrant County College NW Fahelp@tccd.edu www.tccd.edu 2/17/2019

What is Financial Aid???? Financial aid is money provided by the federal government, states, institutions and other sources to help students pay for college This can consists of different programs Grants Loans Scholarships Work-Study Programs Stipends Fellowships

Who is Eligible for Financial Aid? General Eligibility Requirements cont: Not be convicted of an offense involving a controlled substance Register for Selective Service (Male Students) Not owe a refund on federal grant or be in default on a loan Maintain Satisfactory Academic Progress General Eligibility Requirements: Have a H.S. Diploma or recognized equivalent U.S. Citizen or Eligible Non-Citizen Enroll for an eligible degree or certificate program Enroll at least 6 hours for most programs

Application Process… Every Financial Aid Program begins with the FAFSA Free Application for Federal Student Aid Do not pay to process this free application The student completes the FAFSA at www.fafsa. gov Annual Process FAFSA available in January each year for the Fall semester 2/17/2019

Not ready to fill out the FAFSA?... FAFSA 4Caster http://www.fafsa4caster.ed.gov Provides general info on the FAFSA Gives an early estimate of eligibility Gives “estimated” financial aid packages Allows student to transfer information to actual FAFSA Populates certain fields on actual FAFSA 2/17/2019

Know Priority Deadline at each Institution Know your school’s Priority Deadline File completion deadline Means all required documentation to process aid is received by FAO Meeting priority deadline guarantees processing before tuition due date TCC—April 15 each year Files processed on first-come, first-served basis The earlier students apply, the more aid available Remember: Apply for aid no later than 2nd week of March.

What happens next??? The Federal Processor Reviews Data and Assigns Estimated Family Contribution (EFC) Student is Sent a Student Aid Report (SAR) and TCC receives an electronic ISIR An email or letter is sent to student requesting required documentation to complete file TCC uses Campus Cruiser Email Address: Example firstname.lastname@my.tccd.edu

Understanding What We Do… The Financial Aid Office uses the following formula to determine eligibility: Calculate the Need: Cost of Attendance Estimated Family Contribution (from SAR) Financial Need The EFC is figured by the federal processor from the information provided on the FAFSA

Examples of COA and Aid SMU TCC Undergraduate Student living in dorm Dependent Student living at home Cost $9153 EFC 1300 Total Need 7853 SMU Undergraduate Student living in dorm Cost $ 50005 EFC 1300 Total Need 48705

Financial Aid Programs Gift Aid: Funds that do not have to be repaid Federal Pell Grant (EFC 0 -- 4617) 26.2 Million awarded 08-09 49.6 Million awarded 09-10 Academic Competitive Grant (EFC 0 -- 4617) Must be in Recommended or Advance High School Program Only Available the first two years of Academic study Federal SEOG (EFC 0 -- 4617) TEXAS Grant Other Grants (TPEG, SLEAP,LEAP) Stars of Tomorrow (TCC Only) Smart Grant (4-year schools only) TEACH Grant (Most 4-year schools) Scholarships 2/17/2019

Aid Programs Continued Self-Help: Must be repaid or must work for funds Federal and State College Work-study Allows students to work on or off-campus Federal Subsidized Stafford and Unsubsidized Loans Alternative Loan Programs Not recommended by many Financial Aid Offices Higher interest rate Based on Credit report 2/17/2019

Top 10% Scholarship Initial Eligibility Requirements Be a Texas resident Demonstrate financial need Apply for Financial Aid by April 1 Recommended or Distinguished Achievement HS curriculum Rank in the top 10 percent Graduate from an accredited high school in Texas Enroll fulltime in a Texas public 2-year or 4-year college or university in fall 2009 Renewal Requirements (contingent upon available funding) Complete 30 semester credit hours (SCH) in the previous year Maintain cumulative 3.25 GPA Complete at least 75% of hours attempted 2/17/2019

Be-On-Time Loan…??? Initial Eligibility Requirements Be a Texas resident Recommended or Distinguished Achievement HS curriculum Be enrolled Fulltime Not eligible to receive TEXAS grant due to higher EFC or School has exhausted all TEXAS grant funds 2/17/2019

Satisfactory Academic Progress All Schools are required to have a policy Policy must define: The number of hours you must complete GPA requirements What happens when you fail to meet the standards Maximum Timeframe a student is eligible for financial aid How they treat transfer hours Whether a student can appeal and the appeal process Policy may differ from College to College

What should students avoid? Withdrawing before the Official Date of Record Financial aid is prorated based on the number of hours enrolled as of census date 100% for 12+; 75% for 9-11; 50% for 6-8 and 25% for 3-5 If student drops a class before ODR, will have to repay funds Dropping even 1 class may result in owing funds Dropping all classes before completing 60% of semester Has not earned their financial aid until this point May have to return funds to TCC and/or government No appeal process for returning funds Receiving all F’s may also result in not earning the funds A GPA lower than 2.0 We monitor GPA by semester as well as cumulative 2/17/2019

For More Information Contact Financial Aid Website Send email (817) 515-4243 Website www.tccd.edu Collegeforalltexans.com Collegeboard.com Fastweb.com Send email fahelp@tccd.edu