Financial Aid and You


    Financial Aid 

    The Financial Aid (FA) process can be very intimidating and confusing for first time college students and it can be difficult to know where to begin and how the process works. The goal of the CCC is to make the financial aid process as easy as possible. In the section you will find information on the following:


    • What is the FAFSA?
    • Types of Aid
    • Applying for Aid
    • Who is eligible for Aid
    • How Financial Aid Works
    • How to Videos
    • Your FAFSA done, now what


    If you have any questions about the financial aid process please contact me!

Types of Aid

  • Types of Federal Financial Aid 


    Pell Grant: A Pell Grant is a federal grant awarded to students for post-secondary education at colleges, universities, and career schools. Pell Grants are awarded on the basis of financial need and doesn’t have to be repaid, unless you withdrawal from school and owe a refund.


    State Aid: this is primarily available to students who attend a college in their state of residence. These funds are limited, so the earlier you apply the greater the chance that you may qualify for this kind of aid. 



    Federal Work Study: Is federal student aid program that provides part-time employment while the student is enrolled in school to help pay his or her education expenses. The student must seek out and apply for work-study jobs at his or her school. The student will be paid directly for the hours he or she works and the amount he or she earns cannot exceed the total amount awarded by the school for the award year. The availability of work-study jobs varies by school.


    Federal Direct Loans (subsidized and unsubsidized): these are available to undergraduate students attending college at least half-time. These will need to be repaid regardless of whether you finish your education.

    • Subsidized Loans: Are loans for undergraduate students with financial need, as determined by your cost of attendance minus expected family contribution and other financial aid (such as grants or scholarships). Subsidized Loans do not accrue interest while you are in school at least half-time or during deferment periods.


    • Unsubsidized Loans: Are loans for both undergraduate and graduate students that are not based on financial need. Eligibility is determined by your cost of attendance minus other financial aid (such as grants or scholarships). Interest is charged during in-school, deferment, and grace periods. Unlike a subsidized loan, you are responsible for the interest from the time the unsubsidized loan is disbursed until it’s paid in full. You can choose to pay the interest or allow it to accrue (accumulate) and be capitalized (that is, added to the principal amount of your loan). Capitalizing the interest will increase the amount you have to repay.

Applying for Financial Aid

  • Applying for Financial Aid 




    The first and suggested step is to visit Federal Student Aid webpage that explains the financial aid process from start to finish. It is highly recommended you review this page prior to starting the FAFSA (Free Application for Federal Student Aid).


    Your FSA ID: The FSA ID is a username and password that you create and is used to sign your FAFSA and access certain Department of Education websites. Each student and parent will need to create their own FSA ID.

    • Anyone who plans to fill out the 2021–22 FAFSA form should create an FSA ID as soon as possible.
    • If you are required to provide parent information on your FAFSA form, your parent should create an FSA ID too.
    • Because your FSA ID is equivalent to your signature, parents and students each need to create their own FSA IDs using their own email address and phone number. Parents should not create an FSA ID for their child and vice versa.
    • In some situations, you may need to wait up to three days to use your FSA ID after creating it. If you want to avoid FAFSA delays, create your FSA ID now


    IMPORTANT: Do NOT create an FSA ID on behalf of someone else. That means parents should not create FSA IDs for their children and vice versa. Doing so may result in issues signing and submitting the FAFSA form and could lead to financial aid delays. (Also, it’s against the rules to create an FSA ID for someone else.)


    For step-by-step instructions, watch How to Create your FSA ID.


    Your Social Security Number: You can find the number on your Social Security card. If you don’t have access to it, and don’t know where it is, ask your parent or legal guardian or get a new or replacement Social Security card from the Social Security Administration. If you are not a U.S. citizen, but meet Federal Student Aid’s basic eligibility requirements, you’ll also need your Alien Registration number.



    Your 2019 Tax Records:

    • On the 2021–22 FAFSA form, you (and your parents, as appropriate) will report your 2019 income information.


    • Since you’ll probably already have filed your 2019 taxes by the time the FAFSA form launches, you’ll be able to import your tax information into the FAFSA form right away using the IRS Data Retrieval Tool (DRT).


    • Not everyone is eligible to use the IRS DRT; and the IRS DRT does not input all the financial information required on the FAFSA form. Therefore, you should have your 2019 tax return and 2019 IRS W-2 available for reference.


    • You cannot use your 2020 tax information. We understand that for some families, 2019 income doesn’t accurately reflect your current financial situation. If you have experienced a reduction in income since the 2019 tax year, you should complete the FAFSA form with the info it asks for (2019), and then contact each of the schools to which you’re applying to explain and document the change in income. They have the ability to assess your situation and make adjustments to your FAFSA form if warranted.


    • You cannot update your 2021–22 FAFSA form with your 2020 tax information after filing 2020 taxes. 2019 information is what’s required. No updates necessary; no updates allowed.



    List of school(s) you are interested in attending:

    • Even if there is only a slight chance you’ll apply to a college, list the school on your FAFSA form. You can always remove schools later if you decide not to apply, but if you wait to add a school, you could miss out on first-come, first-served financial aid.


    • The schools you list on your FAFSA form will automatically receive your FAFSA results electronically. They will use your FAFSA information to determine the types and amounts of financial aid you may receive.
    • If you add a school to your FAFSA form and later decide not to apply for admission to that school, that’s OK! The school likely won’t offer you aid until you’ve been accepted anyway.


    • You can list up to 10 schools at a time on your FAFSA form.


Basic Eligibility For Federal Aid

  • Basic Elgibility for Federal Aid 


    The basic eligibility requirements for federal financial aid:

    • demonstrate financial need(for most programs);
    • be a U.S. citizen or an eligible noncitizen;
    • have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau);
    • be registered with Selective Service, if you’re a male (you must register between the ages of 18 and 25);
    • be enrolled or accepted for enrollment as a regular studentin an eligible degree or certificate program;
    • be enrolled at least half-time to be eligible for Direct LoanProgram funds;
    • maintain satisfactory academic progressin college or career school;
    • sign the certification statement on the Free Application for Federal Student Aid(FAFSA®) form stating that
      • you are not in default on a federal student loan,
      • you do not owe money on a federal student grant, and
      • you will use federal student aid only for educational purposes; and
    • show you’re qualified to obtain a college or career school education by
      • having a high school diploma or a recognized equivalent such as a General Educational Development (GED) certificate;
      • completing a high school education in a homeschool setting approved under state law (or—if state law does not require a homeschooled student to obtain a completion credential—completing a high school education in a homeschool setting that qualifies as an exemption from compulsory attendance requirements under state law); or

How Financial Aid Works

  • How Financial Aid Works

How To Videos