1. HOWARD COMMUNITY COLLEGE FINANCIAL AID SERVICES You Can Afford College! 1

2. What is Financial Aid? Gift Aid GrantsScholarships Self-Help Aid Work StudyLoans 2

3. Definition of Financial Need 3

4. Cost of Attendance (COA) 4 COA Room & Board Books & Supplies Tuition & Fees Transportation Miscellaneous Expenses

5. Expected Family Contribution (EFC) 5 What is it?  Assigns a “number” based on financial situation that the family can “expect” to contribute to the student’s COA.  It is calculated according to a formula established by federal law and does NOT change based on institution attending. How is it calculated?  Information the family reports on the student’s Free Application for Federal Student Aid (FAFSA).  Looks at family's taxed and untaxed income, assets, benefits, family size and number in college.

6. STUDENT MUST:  be a U.S. Citizen or Eligible Non-Citizen  have a valid Social Security Number  demonstrate you are qualified to enroll in postsecondary education (e.g. have a high school diploma or GED)  be enrolled in an eligible degree program  not be in default on any Federal Student Loan  register with Selective Service if you are a male between the ages of 18 and 25  certify that you will use federal student aid for educational purposes  maintain Satisfactory Academic Progress Federal Financial Aid Basic Eligibility Requirements  Note: Other conditions may apply 6

7. www.pin.ed.gov & www.fafsa.gov 7

8. WHAT YOU WILL NEED: 1. Your social security number 2. Your federal student aid pin 3. Your financial records 4. An email address 5. About an hour of your time 8 Completing the Free Application for Federal Student Aid (FAFSA)

9. Sources of Financial Aid Federal State Institutional Private Grants (FAFSA) Work Study (FAFSA) Loans (FAFSA & Application) Grants (FAFSA & Application) Scholarships (Application) Grants (FAFSA) Work Study (FAFSA) Scholarships (Application) Tuition reimbursement 9

10. Federal Financial Aid Grants  PELL Grant (up to $5,550/year)  Supplemental Education Opportunity Grant (SEOG) (up to $1,200/year) Work Study  Need based award provides funds earned through part-time employment on and off campus (earn up to $3,500/year) 10

11. Federal Loan Programs Stafford Student Loan  Subsidized Stafford Loans (Need Based)  Government pays the interest while in college and during the 6 month grace period after graduation, leave school or enroll less than half time.  Unsubsidized Stafford Loans  Student is responsible for paying all of the interest on the loan (even though payments not required until 6 months after graduation, leave school or enroll less than.) Parent PLUS  Ability to choose to defer payment while dependent child is in school.  Up to Cost of Attendance (COA) less other aid received 11

12. Maryland Higher Education Commission Grants and Scholarships Maryland Higher Education Commission (MHEC) administers over 20 programs for the State of MD Parent and student must be a Maryland State Resident Some programs require an additional application available on MHEC’s website (www.mhec.state.md.us)www.mhec.state.md.us Examples of State Aid Need-based (file the FAFSA by March 1 st each year):  Educational Assistance Grant (up to $3,000 /year)  Guaranteed Access Grant (up to $14,300/year)  Part-Time Grant (up to $2,000/year) Legislative:  Senatorial (range from $200-$9,000/year)  Delegate (range from $200-$9,000/year) 12

13. www.mhec.state.md.us 13

14. https://mdcaps.mhec.state.md.us 14

15. Institutional Aid Grants  Grants from the institution based on need Work Study  Institutional Work Study Scholarships  Awarded by the institution based on various criteria  Financial Need  Academic Merit  Learning Program  Special Skills or Talents  Volunteer Experience **PAY CLOSE ATTENTION TO DEADLINES** 15

16. Private Sources Financial aid funding that comes from private organizations  Civic Organizations  Professional Associations  Private Businesses Funds may or may not be awarded through Financial Aid Services Use reliable scholarship search services  http://www.fastweb.com http://www.fastweb.com  http://www.collegeboard.com/student/pay http://www.collegeboard.com/student/pay  http://www.finaid.org http://www.finaid.org 16

17. Ways to Pay for College 17 Cash, Check or Money Order Tuition Payment Plans 529 Savings & Prepaid Tuition Programs Employer Tuition Reimbursement Plan Military Tuition Assistance Veterans Benefits and Veterans Deferred Payment Plan Tuition Waivers Alternative Loans

18. Reliable Sources of Financial Aid Howard Community College’s Financial Aid Services Department – community resource  RCF – 222  HCC’s Financial Aid website Publications  The Guide to Federal Student Aid  Maryland Higher Education Commission Other websites that end in:  gov  ed  edu  ed.gov 18

19. Financial Aid Services Located in RCF- 222 Phone: 443-518-4912 Fax: 443-518-4576 E-Mail: finaid@howardcc.edu Webpage:  Go to www.howardcc.edu  Select “Admissions & Enrollment” tab  Click on “Pay for College”  Select “Financial Aid Services” on the left column 19