1. FINANCIAL AID 101 Trina Smith-Patterson Director, Financial Aid
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FINANCIAL AID 101
Trina Smith-Patterson
Director, Financial Aid
Tarrant County College NW
2/17/2019

2. 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

3. 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

4. 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
gov
Annual Process
FAFSA available in January each year for the Fall semester
2/17/2019

5. Not ready to fill out the FAFSA?...
FAFSA 4Caster
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

6. 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.

7. 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 or letter is sent to student requesting required documentation to complete file
TCC uses Campus Cruiser Address:
Example

8. 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

9. Examples of COA and Aid SMU TCC Undergraduate Student living in dorm
Dependent Student living at home
Cost $9153
EFC
Total Need
SMU
Undergraduate Student living in dorm
Cost $
EFC
Total Need

10. Financial Aid Programs
Gift Aid:
Funds that do not have to be repaid
Federal Pell Grant (EFC )
26.2 Million awarded 08-09
49.6 Million awarded 09-10
Academic Competitive Grant (EFC )
Must be in Recommended or Advance High School Program
Only Available the first two years of Academic study
Federal SEOG (EFC )
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

11. 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

12. 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

13. 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

14. 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

15. 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

16. For More Information Contact Financial Aid Website Send email
(817)
Website
Collegeforalltexans.com
Collegeboard.com
Fastweb.com
Send