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FREQUENTLY ASKED QUESTIONS ABOUT FINANCIAL AID

How do I apply for Federal and/or State Financial Aid?

Students wishing to apply for financial aid at MTCC should complete the Free Application for Federal Student Aid (FAFSA) each year. The electronic version is available online at

Link to FAFSA on the Web at http://fafsa.ed.gov/

We encourage you to apply for a Personal Identification Number (PIN) at

Link to FAFSA on the Web at http://www.pin.ed.gov/

that you will use to electronically sign your application. Students having difficulty completing the application are encouraged to contact the MTCC Financial Aid Office for assistance.

What is the deadline to apply for financial aid at MTCC?

While there is no technical deadline to apply for financial aid, students are encouraged to apply at least six to eight weeks prior to the beginning of their first semester at MTCC. Funds are limited in some financial aid categories so early applicants are more likely to receive assistance if eligible and funds are available. Students may apply for financial aid for the 2014-15 academic year through June 30, 2015.

Do I have to reapply for financial aid every year?

Yes!! Your financial aid eligibility is based on information from the prior calendar year; i.e. 2014-15 financial aid application is based on 2013 information. In order to be considered for financial aid, students should complete the FAFSA each year as soon as their/their parents’ income tax return(s) are completed.

What type of financial aid assistance is available?

Federal and state grants, work-study, student loans and scholarships are available to students based on eligibility.

What is MTCC’s federal school code?

Our school code is 008085. Be sure to enter this code in the school section of your FAFSA so that our financial aid office will receive your information.

What determines if I am eligible for financial aid?

The U. S. Department of Education uses the information submitted on the FAFSA to determine your Expected Family Contribution (EFC). This EFC and your enrollment status are then used by the MTCC Financial Aid Office to determine the amount of financial aid that you are eligible to receive.

Do I have to report my parents’ information on the FAFSA?

To be considered an independent student (and therefore, not have to report parental data on the FAFSA) for the 2014-15 academic year, you must be able to answer “yes” to one of the following questions:

  • Were you born before January 1, 1991?
  • As of today, are you married?
  • At the beginning of the 2014-15 school year, will you be working on a master’s or doctorate program?
  • Are you currently serving on active duty in the US Armed Forces for purposes other than training?
  • Are you a veteran of the US Armed Forces?
  • Do you have children who will receive more than half of their support from you between July 1, 2014 and June 30, 2015?
  • Do you have dependents (other than your children and spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2015?
  • At any time since you turned age 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court?
  • Are you or were you an emancipated minor as determined by a court in your state of legal residence?
  • Are you or were you in legal guardianship as determined by a court in your state of legal residence?
  • At any time on or after July 1, 2013, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless?
  • At any time on or after July 1, 2013, did the director of an emergency shelter or transitional housing program funded by the US Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless?
  • At any time on or after July 1, 2013, did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless?
    (See Step Three of 2014-15 FAFSA for further clarification)

    If you could not answer yes to any of the questions above, you will be required to provide parental information on the FAFSA.

If my parents are separated or divorced, what income do I report on the FAFSA?

The parent that you live with should submit the parental information on the FAFSA. If that parent is remarried, you will use the information of the parent and their spouse (stepparent).

What if my parents and I aren’t required to file an income tax return?

You may answer “I’m not going to file” to the questions regarding completing a tax return on the FAFSA.

What happens after I apply for financial aid?

Soon after submitting the FAFSA, you will receive notification that your application is being processed by the Department of Education. They, in turn, send your student aid report to the MTCC Financial Aid Office. You will then receive documentation from the MTCC Financial Aid Office explaining what you must do next to complete your financial aid file. This notification could be received via regular mail or e-mail. If you haven’t received correspondence from the MTCC Financial Aid Office within two to three weeks of your FAFSA application date, please call to verify your application status.

What does it mean if my financial aid application is selected for verification?

The U. S. Department of Education randomly selects a percentage of all students that apply for financial aid to be reviewed and “verified”. If selected, you will receive additional information from the MTCC Financial Aid Office. Typically, you will be asked to complete a verification worksheet and provide your and/or your parents tax transcripts and W-2 forms.

What if I have lost my copy of my W-2’s or need to request a tax transcript?

You may contact the Internal Revenue Service Customer Service at
1-800-TAX-1040 to request duplicate copies of your tax returns and/or W-2 forms. Additionally, you may also be able to request duplicate W-2 forms from your employer.

How will I know if I am approved for financial aid?

Once your financial aid file is complete and a determination of your eligibility has been made, you will receive an email asking you to come to the financial aid office to sign your award letter. If you do not have an email address, the letter will be mailed.

How do I apply for scholarships?

MTCC scholarship applications are available starting in May of every year. The scholarship deadline for the upcoming year is July 30th. The Financial Aid Committee will make decisions regarding scholarships prior to the beginning of Fall Semester each year. The William Harold Smith Educational Trust uses a separate application process to award their scholarship funds. These applications are also available in the MTCC Financial Aid Office.

Do I have to be enrolled full time to receive financial aid?

Typically, the amount of financial aid award on the award letter is based on full-time enrollment (12 credit hours). However, if you register for less than 12 credit hours, you will typically be eligible for a prorated amount of the award. You must have at least six credit hours to receive the NC Community College Grant and the NC Education Lottery Scholarship, or Federal Direct Student Loans.

If I drop a class, how will it affect my financial aid?

If you completely withdraw from all classes prior to the 60% point of the semester, you may be required to repay part of the financial aid that has been awarded to you. The possibility of repayment occurs only if you withdraw from all classes; however, any withdrawals can effect your financial aid eligibility in future semesters.

What is considered satisfactory academic progress for the purposes of receiving financial aid?

Students should successfully complete 67% of the total credit hours attempted and maintain a grade point average of at least 2.0 in order to remain eligible for financial aid. Students falling below the standards mentioned above may request to be placed in Financial Aid Warning Status. If students sign the statement required for Warning status, they are promising to complete all classes attempted in the upcoming semester with a grade of "C" or better. If the student does not do so, financial aid funds will be terminated in the following semester. The student may appeal this termination. This process begins by completing the Financial Aid Satisfactory Academic Progress Appeal Request and submitting it to the MTCC Financial Aid Office for consideration (see the forms section for further clarification and to access this document).

**Please note that financial aid suspension is only effective at MTCC. Should you choose to attend another school, your status will not follow you to that school.

Are all degrees, diplomas and certificates eligible for financial aid funding?

Typically, all associate degrees and one-year diplomas are eligible for financial aid funding. Certificates must be at least 16 credit hours in length to be eligible for financial aid funding. Some curriculum programs that lead to a diploma (not a degree) are awarded financial aid according to contact hours. Contact hours are converted to credit hours prior to financial aid awarding.

What is the semester limit of Pell Grant eligibility?

Eligible students are allowed to receive 12 full-time semesters or their equivalent of Pell Grant funding. Every semester that the student receives or has received Pell Grant funds in the past, counts toward this limit.

 

 

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