Page 53 - Southwestern Community College Catalog 2019-2020

FINANCIAL INFORMATION
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Financial Need
Aid from most of the nancial aid programs is awarded on the basis of nancial need. When applying for federal student aid, the information reported on the application is used to calculate each student’s Expected Family Contribution (EFC). The formula used to cal- culate the EFC is established by federal law and is used to measure the nancial strength of a student’s family on the basis of the family’s income and assets. The EFC is used to determine a student’s eligibility for student aid. The EFC is used in the following equation to determine a student’s nancial need:
Cost of Attendance - Expected Family Contribution = Financial Need
The Financial Aid Of ce at SCC will calculate all students’ cost of attendance and subtract each student’s EFC. If there is any amount remaining, that student is considered to have nancial need. The Financial Aid Of ce will work with students toward meeting their need. Because funds are limited, the amount awarded to most students will likely fall short of meeting their total need.
Financial Aid Programs at SCC
In general, there are four types of nancial aid. Grants and scholarships are gift
money that does not need to be repaid. Work-study is money that is earned by working, and student loans are borrowed funds that must be repaid.
The following need-based grants are available to eligible students at SCC:
• The Federal Pell Grant is generally awarded to undergraduate students with nan- cial need who have not earned a bachelor’s degree. Pell Grants for the 2019- 2020
school year will range from $650 to $6,195 for the year. Students’ EFCs will determine whether or not they are eligible and how much they will receive. If students are eligible, they will be noti ed of the full-time award amount, but the amount actually paid will depend on whether they are enrolled full-time or part-time, and whether they attend for a full academic year or less. Students may also be eligible to receive additional Pell Grant funds for Summer enrollment.
• The Federal Supplemental Educational Opportunity Grant (FSEOG) is a smaller grant that is awarded to students with the greatest nancial need (lowest EFC). Limited funds are provided by the Federal Government and are awarded by the SCC Financial Aid Of ce to both full-time and part-time students.
• The North Carolina Community College Grant is a program established by the North Carolina General Assembly to help meet the educational costs of attending a com- munity college. To be considered for this grant, students must be North Carolina residents for tuition purposes and enrolled at least half-time (6 credit hours per semester). Students’ EFCs will determine whether or not they are eligible and how much they will receive.
• The North Carolina Education Lottery Scholarship (ELS) is a need-based scholarship, and students’ EFCs will determine whether or not they are eligible and how much they will receive. Students must be North Carolina residents for tuition purposes, and be enrolled at least half-time (6 credit hours per semester). Filing the FAFSA will submit students’ names for consideration for this scholarship.
Each grant above has several speci c eligibility criteria which must be met. Please contact the SCC Financial Aid Of ce for additional details.
2019-20 Catalog