FINANCIAL AID Determining Financial Need and Eligibility for Financial Aid The financial aid program at SCCC provides monetary assistance to matriculated students who can benefit from further education, but who cannot do so without such assistance. Amounts of awards vary and depend upon the student’s demonstrated and verified financial need, as well as the amount of government funds available for distribution. The primary responsibility for meeting the expenses of a college education rests with the student and family.
Campus-Based Aid The four programs listed are the major sources of aid available based on the financial need analysis as documented through the FAFSA: 1. Federal Supplemental Educational Opportunity Grants (FSEOG) 2. Educational Opportunity Program (EOP) 3. Federal Work Study (FWS) To be considered for one or all of these programs, a student must be currently matriculated in a degree or certificate program.
An estimated family contribution toward college is determined through a process called “need analysis,” which measures family financial circumstances. Financial need is then defined as the difference between family contribution and the cost to attend Schenectady County Community College.
Preference will be given to aid applicants whose completed financial aid materials have been received by the College’s Financial Aid Office prior to May 1. Students may be required to document taxable and non-taxable income, household size and other information reported on the FAFSA.
To apply for most types of financial aid, a student must complete a Free Application for Federal Student Aid (FAFSA). Using this information, the SCCC Financial Aid staff will determine eligibility for federal financial assistance. A New York state Express TAP Grant application will be available to all New York state residents who complete a FAFSA. More information about TAP is available at the website www.hesc.com.
Applications received after May 1 will be considered as long as funds are available. For the FAFSA to be received by the College by May 1, it should be submitted before April 1. The FAFSA may be completed online at fafsa.ed.gov.
Federal Financial Aid Criteria To Be An Independent Student For the 2011-2012 academic year, the questions below are the federal criteria for independence. You are independent, and do not require parent information on the FAFSA, if you answer “yes” to any of the following questions:
• Were you born before January 1, 1988? • As of today are you married or separated? • Are you currently on active duty with the U.S. Armed Forces? • Are you a veteran of the U.S. Armed Forces? • Do you have children who receive more than half of their support from you? • Do you have dependents, other than children or spouse, who live with you and that you provide more than half of their support? • Since the age of 13, were both parents deceased, were you in foster care, or were you a ward of the court? • Are you or were you an emancipated minor as determined by a court? • Are you or were you in legal guardianship as determined by a court? • At any time on or after July 1, 2010, were you considered to be an unaccompanied youth or homeless? If you answered “no” to every question, you are dependent on your parents for federal financial aid purposes. If you answered “yes” to any question, you are independent of your parents for federal financial aid purposes.
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Federal Financial Aid Refund Policy The U.S. Department of Education has implemented a refund policy for federal financial aid programs (Pell, SEOG and Student Loans). When a student withdraws from or stops attending all classes in the first 60 percent of a term, federal regulations require that the college calculate the percentage and amount of federal financial aid the student did not “earn” by his/her attendance and return those funds to the federal programs. For example, if a student withdraws after attending only 30 percent of the term, then that student is only entitled to 30 percent of his/her federal financial aid (grants and loans). Students who attend classes after the 60 percent point in the term are considered to have earned all federal funds. If a student received more federal financial aid than the amount earned, the College is required to return the unearned funds to the U.S. Department of Education. Students need to be aware that if this unearned federal assistance was used to pay College charges for tuition, fees and books, they may now owe the College for the portion of tuition, fees, and books that was previously covered by the unearned portion of their federal financial aid. If students received a cash disbursement of a Federal Pell Grant, and/or Federal SEOG grant funds, they may also be required to repay a portion of these unearned federal grants to the U.S. Department of Education. Students who owe an outstanding balance to the United States Department of Education will be notified of any outstanding balances owed within 30 days of the date that they withdrew from all of their classes or 30 days from the date the College learned that they were not attending all of their classes. The students will then have 45 days to repay the overpayments or to reach satisfactory repayment arrangements with the College or the U.S. Department of Education. If a student does not repay the overpayment or make satisfactory arrangements within the 45 days, he/she will be considered to have a federal financial aid overaward, and the student’s account will be