Financial Aid Overview Christina Palacios Financial Aid Specialist Tarrant County College 300 Trinity Campus Circle, Fort Worth, TX (817)515-4AID * (817) Fax

Presentation Outline Types of Financial Aid at Colleges and Universities How to apply for Financial Aid? Additional Information on Financial Aid

Types of Financial Aid Gift Aid Grants - Federal, State & Institutional, based on need Federal Pell Grant and TX Public Education Grant are the largest Pell Grant annual max is $5,730 Pell Grant eligibility is limited to 6 full time years. Scholarships - large variety, based on merit/need. Complete the TCC Foundation & Financial Aid Scholarship Application at Check out TCC’s Stars of Tomorrow Program Texas – Science, Technology, Engineering and Math Scholarship Program – Funds are limited Apply early to enhance your chance of receiving gift aid

Types of Financial Aid (cont’d) Self Help Aid College Work-Study - on campus employment Federal Stafford Subsidized Loan- low interest, paid by government; 6.8% fixed rate in ; repayment begins six months after graduation Federal Stafford Unsubsidized Loan same as subsidized, except student pays interest & rate is 6.8% Federal Parent Loan - parent pays interest; fixed rate of 8.5% or 7.9%

How do I apply for Financial Aid? Complete the appropriate year’s Free Application for Federal Student Aid (FAFSA) Request your electronic signature pin from the Dep. of Education at File electronically at (review FAFSA on the web worksheet to do this); or complete a paper FAFSA Information on income, taxes, assets and household size Produces Student Aid Report (SAR) with the family’s Expected Family Contribution (EFC) The schools you list on the FAFSA will receive the results electronically FAFSA is the most important application

How do I apply for Financial Aid (cont’d)? Approximately 30% of applicants are selected for a review in a process called verification Like an IRS audit If selected, submit 2013 tax return transcript or use IRS Data Retrieval Tool and verification worksheet to your school Submit other requested documents Call your financial aid office to determine if the above are required Most schools have a separate scholarship application/process (TCC does) Undocumented students should ask about the TASFA application – similar to the FAFSA, but used by Texas students for state aid

How is eligibility determined? Cost of Attendance (COA)  Expected Family Contribution (EFC)  Student’s Financial Need (eligibility) School may meet need with grants, scholarships, CWS, and loans, funding permitted. EFC is derived from FAFSA & determines Pell eligibility; $0 to $5,157 = Pell eligible.

WHAT IF I APPLY AFTER PRIORITY DATE? Full time independent student who applied early (by 3 rd week of February): EFC0 Pell Grant$5,730 SEOG$400 TX Grant$1,400 FWSP$4,000 TOTAL Award$11,530 *Pell amount based on estimates for 2014/2015 Students who are part – time and/or who live at home with parent would have reduced budget and award. EFC0 Pell Grant$5,730 SEOG$400 TX Grant$1,400 FWSP$4,000 TOTAL Award$11,530 *Pell amount based on estimates for 2014/2015 Students who are part – time and/or who live at home with parent would have reduced budget and award. Same student who waited to apply until the summer months: EFC0 Pell Grant$5,730 SEOG(out of funds) TX Grant(out of funds) FWSP(out of funds) TOTAL Award $5,635 EFC0 Pell Grant$5,730 SEOG(out of funds) TX Grant(out of funds) FWSP(out of funds) TOTAL Award $5,635

What else is required? Enroll in a degree or certificate program Enroll in at least six hours for most programs Maintain Satisfactory Academic Progress 2.0 GPA 67% Completion Rate Must be a US Citizen or Eligible non-citizen Register with Selective Service (for males age years old) Not owe a refund on federal grant or be in default on a Federal educational loan Have a high school diploma, GED Have a valid Social Security Number Demonstrate need as determined by the FAFSA

What happens next? Your school will send you an award notification This award letter will tell you what you are eligible to receive You can search for outside scholarships Check out tccd.edu/foundation, collegefortexans.com, finaid.org & fastweb.com Borrow as a last resort

 TCCChoice card to be mailed  Cards mailed to enrolled & awarded FA students  Track your card at  “Where’s my card” New Payment Method

Other information Apply early (most aid is awarded “first-come, first-served” basis) Get an early start on your FAFSA at Focus on school deadlines (May 1 for TCC) Read, read, read Be sure to maintain SAP (grades) Students must complete a minimum of 67% of the cumulative hours they have attempted. Student’s must maintain a cumulative GPA of a 2.0 Contact your Financial Aid Administrator for assistance Applying for Financial Aid is easier the second time around

QUESTIONS

FAFSA – “Thrift Shop” Parody