Common cents - Vance-Granville Community College

Report
Kali Brown, Director of Financial Aid
Vance-Granville Community College
October 24, 2013
Average Cost of Tuition per Semester
Based on Full-Time Status (12 Hours)
•
NC Private Universities = $15,600
•
NC Public Universities = $3,300
•
Vance-Granville Community College = $913
• Affordable and Local
VGCC Financial Aid & Scholarships
•
$14.5 Million
• Awarded in Federal, State and Institutional
aid to our students in 2011 - 2012
• 80% of student population
What is Financial Aid?
Financial Aid is funds provided to students and
families to help pay for postsecondary educational
expenses.
• Financial aid includes grants, loans, work-study, and
scholarships.
•
Who is eligible?
•
Federal/State Aid
• U.S. citizen or permanent resident
• State aid: North Carolina resident
• High school graduate/GED holder
• Valid Social Security number
• Males registered for Selective Service
• Eligible degree/certificate program
• Standards of academic progress
•
Scholarships
• Will vary by scholarship
Applying for Financial Aid
•
FREE Application for Federal Student Aid (FAFSA)
•
•
•
Single standard form
IRS Data Retrieval
Must complete annually
•
•
Apply at: www.fafsa.gov
March 15th, Priority application deadline at VGCC
•
•
Other Colleges/Universities may have different deadlines!
Application for 2014 – 2015 will be available on
January 1st
Applying for Financial Aid (cont.)
•
PIN Number
• Allows students and parents to electronically sign the
FAFSA as well as a Master Promissory Note, if applying
for student loans
• Website: www.pin.ed.gov
Applying for Financial Aid (cont.)
•
Once the FAFSA is submitted, watch for an email
response from:
[email protected]
•
After the FAFSA is sent to school(s), watch for emails
or letters
• Submit any additional paperwork requested by school(s)
•
Each school will notify students how much aid they
are eligible for at that institution.
• Keep in touch with the Financial Aid Office at school of choice.
Expected Family Contribution (EFC)
•
Amount of money the student and/or parent is
expected to contribute to the student’s education.
•
Determined by:
• Parent’s Income: Earnings from Work, Child Support
Received or Paid, Business Income
• Student’s Income: Earnings from Work, Child Support
Received or Paid, Business Income
• Number in Family and College
• Assets
How much Federal Student Aid
can I receive?
•
In general, it depends on financial need.
• Financial need is determined by the Expected Family
Contribution and college’s Cost of Attendance (COA)
• EFC determined from the FAFSA
• COA is tuition, fees, books, personal, room and board,
transportation, etc.
•
Formula: COA – EFC = Financial Need
Types of Financial Aid
•
Federal:
Pell Grant
• FSEOG – Federal Supplemental Education Opportunity Grant
• Federal Work Study Program – Part-time Jobs on Campus
• William D. Ford Federal Direct Loan Program
•
•
State:
•
•
•
•
NC Community College Grant (for NC Community Colleges)
NC Education Lottery Scholarship (for NC community
colleges and all 16 UNC campuses)
UNC Need-Based Grant (for all 16 UNC campuses)
NC Need-Based Scholarship (for NC independent
non-profit campuses)
Types of Financial Aid (cont.)
•
Program Specific for North Carolina:
College Foundation of North Carolina website
• Forgivable Education Loans for Service (FELS)
• http://www.cfnc.org/FELS
• Areas include: Allied Health, Nursing, Education, and
Medical Programs
•
•
Scholarships
•
•
VGCC Scholarships
Outside Scholarships
•
Veterans Educational Assistance
•
VGCC Department Grants & Day Care Assistance
Types of Financial Aid (cont.)
•
Student Loans
•
This type of Financial Aid must be REPAID plus interest!!
•
William D. Ford Federal Direct Loan Program
•
Alternative Loans
VGCC Scholarship Programs
•
Top 20% Scholarship Program
• Awarded to Top 20% of High School Seniors
• $750 scholarship (academic year)
• Guaranteed to the first 30 students who respond
• Return the scholarship acceptance to VGCC by March 1, 2014.
• How can you help?
• Send the names and addresses of your Top 20% to us.
• Send to:
Endowment Office
Vance-Granville Community College
P O Box 917
Henderson, NC 27536
FAX: (252) 738-3696
VGCC Scholarship Programs (cont.)
•
Merit-Based Scholarship Program
• Open to New and Returning Students
• $500 - $1,250 scholarship (academic year)
• First Priority Deadline: March 15, 2014
• How can you help?
• VGCC will mail merit-based scholarship applications to high school
counselors in the spring. Please distribute to your Senior class.
Note: Students who receive a Top 20% Scholarship are not eligible for an
additional merit-based scholarship.
Example of Federal Student Aid
Award Package
•
Example: first-year dependent student, living off
campus, in 2013 – 2014 at VGCC
•
•
•
COA at VGCC is $9,730 for Fall and Spring Semesters
Student’s EFC is $0
Award package:
Federal Pell Grant: $5,645
• Federal Supplemental Educational Opportunity Grant: $400
• Federal Work-Study: $2,900
• VGCC Top 20% Scholarship: $750
•
Financial Aid Resources
•
For an early estimate:
•
•
Use FAFSA4caster: www.fafsa4caster.ed.gov
Enter some financial information & receive an estimate
•
2013 – 2014 Counselors and Mentors Handbook
on Federal Student Aid:
http://www.fsa4counselors.ed.gov/clcf/counselorsHandbook.html
•
FSA Pubs - Free Publications and Mailing List:
http://www.fsapubs.gov/
•
1-800-4-FED-AID
• Information about aid programs and help with the FAFSA
Financial Aid Resources (cont.)
•
Web resources:
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VGCC Financial Aid Office - www .vgcc.edu/FinancialAidOffice/
•
College Foundation of NC for information on all types of aid for
NC residents - www.cfnc.org
•
7 Easy Steps to the FAFSA online tutorial:
http://www.finaid.ucsb.edu/FAFSASimplification/index.html
•
Federal Student Aid, including information about aid programs,
free scholarship search and free college search:
www.studentaid.ed.gov
•
General financial aid information and national scholarship
search - www.finaid.org
•
General scholarship search - www.fastweb.com
Standards of Academic Progress
•
Each student is expected to maintain SAP toward completing
requirements of a degree, diploma, or certificate.
•
Student receiving Financial Aid at VGCC must:
•
2.0 GPA – Maintain a minimum cumulative Grade Point
Average of 2.0
•
67% Passing Rate – Successfully complete at least 67% of courses
attempted
•
150% Maximum Time Frame – Complete the program of study in
a time frame not to exceed 150% of the published length
of the program
Final Thoughts…
•
Apply for aid each year.
•
Pell Grant Eligibility Limit: A student’s Lifetime Pell Eligibility is 12
full-time semesters or the equivalent.
•
Aggregate limits for the Direct Loan Program: Dependent students
may only receive $31,000 in student loan funds as an
undergraduate student.
•
Summer Eligibility: dependent on what a student received during
Fall & Spring semesters
• If full-time in both fall & spring semesters, there will be
no remaining eligibility for summer.
VGCC FAFSA DAY
•
Saturday, February 22, 2014
VGCC ‘s Main Campus
• 9:00 AM – 12:00 PM
• Open to all high school students and their parents
• Website: www.CFNC.org/FAFSAday
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VGCC FINANCIAL AID OFFICE
•
Visit one of our offices!
Main – Building 8
• Franklin – Building 1
• South – Room G111
• Warren – W102 in Building 1
•
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Phone Number: (252)738 – 3280
QUESTIONS?

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