1. Paying For College
Presented by Alamance Community College

2. 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

3. 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!

4. 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

5. 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

6. 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

7. 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

8. 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