Page 23 of Cecil Community College 2005-2007 Catalog by Cecil Community College

www.cecilcc.edu 22 General Information Financial Aid Programs are designed to assist qualified students in meeting their college-related expenses. Need-based scholarships, grants, work-study and loans are types of financial assistance that require completion of the Free Application for Federal Student Aid (FAFSA) to determine eligibility. In addition, some Maryland State Scholarships have specific application and award criteria. The Cecil Community College Foundation Scholarship application can be found online at www.cecilcc.edu/alumni/foundation/scholarships.asp. The goal of Cecil Community College is to make the financial aid application process understandable and easy to follow. The financial aid staff maintains a strong commitment to students and encourages responsible participation in the process. The following are a few basic guidelines to ensure that students receive comprehensive consideration for all types of financial assistance: apply early to be considered for all types of aid: federal, state, and college aid; know the deadline: March 1 is the priority deadline for most Maryland state scholarships and Cecil Community College Foundation Scholarships; promptly provide all documents that are requested by the Financial Aid Office; and when in doubt, ask questions. Eligibility Requirements The following requirements must be met for students to receive federal student aid: be a U.S. citizen or eligible non-citizen; be registered with Selective Service, if required; be admitted into an eligible program of study and be working toward a certificate or degree; be making satisfactory academic progress; not owe a refund on a federal grant or be in default on a federal education loan; show demonstrated financial need by completing the FAFSA; and have a high school diploma or GED; and cannot be enrolled in elementary/high school and college at the same time. How to Apply Students must apply each year for financial aid. There are two ways of submitting the information: The paper Free Application for Federal Student Aid (FAFSA) by mail or, The electronic FAFSAat the website www.fafsa.ed.gov. Generally, the paper application takes three to four weeks to process while the electronic version takes five to seven days. Regardless of the method of application, students will receive a Student Aid Report from the U.S. Department of Education that summarizes the FAFSA information and lists the students Expected Family Contribution (EFC). Federal Financial Aid Programs The federal assistance programs are designed to provide funding for students who demonstrate financial need using the FAFSA. The standard needs analysis formula, called Federal Methodology, is applied to the information submitted in the FAFSA and treats all student information equally. Federal Pell Grant This program provides need-based grants to eligible full- and part-time undergraduate students. The Expected Family Contribution (EFC) and the students credit load determine the amount of the grant. The maximum amount proposed for the 2005-06 academic year is $4,050 for a full-time student with an EFC of 0. The EFC is calculated by completing the FAFSA. Federal Supplemental Educational Opportunity Grant (FSEOG) This program provides supplemental funding for full- and part-time undergraduate students who demonstrate exceptional financial need. Priority is given to Federal Pell Grant recipients. The amounts may vary from $100 to $1,000. Federal Work-Study Program This program provides jobs for students who demonstrate financial need. Students work in a variety of positions on and off campus, averaging 10 to 15 hours per week. Work-study contracts are given as funding allows. Federal Stafford Loan Program The Federal Stafford Loan Program enables students in good academic standing to borrow funds to pay for educational expenses. Students sign a Promissory Note with their lender of choice agreeing to pay back the loan funds after graduating, withdrawing or dropping below six credits. Participating banks, credit unions, or savings and loan associations make these low interest loans. The interest rate is variable but caps at 8.25 percent. An entrance interview is conducted with all borrowers. In addition, an exit interview is conducted when a student withdraws, graduates, or drops below six credits. The purpose of both entrance and exit interviews is to inform students of their rights and responsibilities as borrowers and to help them FINANCIAL AID

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