Q: How do I apply for Financial Aid?
A: Go to the Financial Aid Homepage and click on “How to Apply for Financial Aid” for details on what you need to do.
Q: Is it free to complete a FAFSA online?
A: Yes. The Free Application for Federal Student Aid (FAFSA) is always available at no cost. For the free FAFSA, you must go to www.FAFSA.ed.gov. Avoid any other websites labeled FAFSA but not affiliated with the U.S. Department of Education.
Q: How do I know which FAFSA to fill out?
A: A FAFSA covers an academic year which includes the fall, spring and summer semester.
Example: Completing the 2009-10 FAFSA includes Fall 2009, Spring 2010 and Summer 2010 semesters.
Q: Do I have to fill out the FAFSA again next semester?
A: No, you complete the FAFSA once for every Academic Year (Fall, Spring & Summer). You can complete your FAFSA as early as January 1st which is eight months prior to the start of the upcoming Fall semester.
Q: Can I receive financial aid at CCC and another school?
A: You may not receive Pell grant at two schools at the same time. You may be able to enter into a consortium agreement, which allows you to count the credits taken at both schools towards the school that is providing the financial aid. For more information, visit our Consortium Agreement web page.
Q: How long will it take for financial aid to receive my FAFSA information?
A: Generally we receive your FAFSA a week or two after you have submitted it online. You must be admitted to CCC for us to receive your FAFSA information. Be sure you have completed all the requirements with Admissions.
Q: I received a Student Aid Report (SAR) by email (or in the mail). What do I do with it?
A: Read it to make sure all the information is correct and CCC is listed to receive your FAFSA information. If everything is correct, keep it for your records. If something is incorrect please come see us. CCC should receive your FAFSA information about the same time as you. You can check your status on Web4Students. Click on Financial Aid> Financial Aid Status> Select Current Aid Year > view Unsatisfied Student Requirements to see what we need from you.
Q: What is an EFC? And what is it for?
A: An EFC stands for Expected Family Contribution which is calculated when you submit a FAFSA. Based on the information you reported on the FAFSA, the Department of Education uses a formula to calculate how much you and your family are expected to be able to pay towards your education. Your eligibility for federal and institutional aid is based on your EFC.
Q: What is the maximum amount I can make and still receive financial aid?
A: That is dependent on how the Department of Education classifies you. If you are independent your eligibility is determined from your income and/or your spouse's income from the previous tax year. If you are dependent your eligibility is determined from your income and your parent’s income from the previous tax year. Fill out the FAFSA at www.fafsa.ed.gov to find out.
Q: Am I dependent or independent? (For the 2009-2010 Academic Year)
A: You are considered an Independent student if at least one of the following situations describes you:
You were born before January 1, 1986.
You’re married as of the date you complete the FAFSA.
You have children who receive more than half their support from you.
You have dependents other than your spouse or children who live with you and who receive more than half their support from you.
You had no living parent (biological or adoptive) when you were age 13, even if you are now adopted.
You are or were in foster care or were a ward or dependent of the court at any time when you were 13 or older (even if you aren’t anymore).
You’re an emancipated minor or are in legal guardianship as determined by the court in your state of legal residence.
You are a self-supporting unaccompanied youth who is homeless or at risk of homelessness.
You're a veteran of the U.S. Armed Forces (or will be a veteran as of June 30, 2010), or you attended a service academy and were released under a condition other than dishonorable.
You’re currently serving on active duty (other than training) in the U.S. Armed Forces.
With the exception of your birthdate, we typically ask for documentation to validate that any of the above statements are true. We will notify you of any documents necessary to determine if you are dependent or independent. You can see these required documents by logging in to Web4Students> click on Financial Aid> Financial Aid Status> Select Current Aid Year > view Unsatisfied Student Requirements.
Q: I’ve answered NO to all of the independency questions, but I think I should be considered independent.
A: If you cannot answer yes to any of the independency questions but have extenuating circumstances you may submit a Request for Independent Status Appeal. If you do not meet the criteria for this appeal, you will be required to provide parental information on the FAFSA.
Q: What documents do I need to complete my financial aid file?
A: A few weeks after you have completed your FAFSA, we will inform you (by mail or email) of the documents necessary to complete your file. You can check your financial aid status on Web4Students. Click on Financial Aid> Financial Aid Status> Select Current Aid Year > view Unsatisfied Student Requirements to see what we need from you.
Q: What is verification and why was I “selected for verification”?
A: Verification is a process initiated by the U.S. Department of Education or financial aid used to confirm that the information you entered in the FAFSA is accurate. You will be required to submit other documents to financial aid and you will not be eligible for federal aid until this process is completed. Per federal regulations, about 30% of all financial aid applicants are selected for verification and some students are selected due to discrepancies or missing information on their FAFSA after file review.
To find out what other documents are required if you are selected, login to Web4Students. Click on Financial Aid> Financial Aid Status> Select Current Aid Year > view Unsatisfied Student Requirements to see what we need from you.
Q: Can my parent(s) or spouse be given information on my file in person or on the phone?
A: You must sign a Student Authorization To Release Information form authorizing CCC to release your specific information to the person(s) you have designated. If your parent/spouse wants information in person, their picture ID is still required to verify whom we can release information to regarding your financial aid file. We cannot identify a student/parent/spouse over the phone, which means we will not give out any detailed information on your file. We can only release general information over the phone.
Q: What is a Cost of Attendance and Financial Need?
A: A standard Cost of Attendance (COA) is an estimate of your educational expenses for the period of enrollment. The COA includes tuition & fees, allowance for books & supplies, housing & food, transportation and personal expenses. Financial need is then calculated by taking your COA minus your EFC (Expected Family Contribution) to total your financial need (COA - EFC = NEED). We use your "need" to determine your eligibility for need based aid such as grants, Federal Work Study and Federal Subsidized loans. Click here to see CCC’s Cost of Attendance.
Q: How many credit hours must I be registered in to receive financial aid?
A: You can take as few as 1 credit hour per semester and still receive financial aid if you have been determined to be eligible by the Department of Education and CCC. If you are approved for a Federal Family Education Loan you must be registered for at least 6 credit hours per semester.
Q: When I register for classes will financial aid hold them?
A: Depends. If you have a complete financial aid file, have eligibility for a grant or loan and are in Good or Probationary SAP standing, we will hold your classes. If for any reason after your file has been verified it is determined you are not eligible for a grant or loan you will be responsible for payment of your tuition and fees or you will be dropped for non-payment.
Q: Does CCC offer a payment plan or payment deferments?
A: Yes. CCC participates in the FACTS program, which allows students to pay their tuition in installments. For more information on this program you may contact the Cashiering Office at 928-226-4237. You may sign up by going to CCC's Homepage and click on the e-cashier icon.
Q: If I get married after I completed the FAFSA, should I complete a new one with my spouse’s information?
A: No. You complete the FAFSA with your marital status as of that day you are filling out your FAFSA. You may not re-submit a FAFSA based on the marital change. Federal Regulations prohibit CCC from changing or accepting a marital status change on a current year FAFSA.
Q: How does the 100% refund deadline and deadline to add affect my financial aid?
A: The 100% refund deadline and deadline to add are both normally the 5th business day of the semester. If you drop a class before this date, your tuition gets refunded, and per federal regulations we typically need to decrease or cancel your financial aid. If you drop a class after this date, you will not receive any refund for tuition and fees but we will not decrease or cancel your financial aid unless you withdraw from or stop attending all of your classes. If you add a class after the 100% refund deadline (including a fast-track or partial semester class), you are responsible for full payment. No adjustments to financial aid awards will be made after the 100% refund deadline and deadline to add date unless an error has been made by the College. Click here for more information on financial aid Award Adjustments. These deadline dates are posted online on CCC’s Academic Calendar. Dropping classes after the 100% refund deadline and deadline to add can jeopardize your future financial aid. Please consult our Satisfactory Academic Progress Page for more information.
Q: When I look on Web4 my financial aid status says “SAP Check Pending”, what does that mean?
A: This means Financial Aid will be checking your academic progress at the end of the current semester to determine your eligibility for the upcoming semester. Semesters that haven’t occurred yet will usually have this status listed. Pay special attention to the current semester to ensure you’re aware of your status.
Q: Does CCC have student loans?
A: Yes, CCC participates in the Federal Family Educational Loan Program (FFELP). There are several steps necessary to apply for loans. Visit our Loan web page for details.
Q: What is Federal Work Study and how do I apply?
A: The Federal Work-Study (FWS) program provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the recipient's course of study. To qualify for Federal Work Study, students must have a complete and verified financial aid file with remaining need; be enrolled and be in Good or Probation SAP status according to CCC’s SAP Policy to be considered. Students will also go through an interview process with a prospective supervisor. To apply, FWS Applications and job openings are available online at www.coconino.edu/finaid.
Q: If I’m eligible for financial aid can I get a book voucher for the bookstore?
A: No, at this time we cannot issue any type of voucher for books.
Q: If I’m on “Probation” am I still eligible to receive financial aid?
A: Yes. You will need to meet certain criteria to be removed from Probation and placed into Good standing. Click here to read our SAP policy on how to maintain Good financial aid status.
Q: What is “Suspension”?
A: Students on financial aid suspension are not eligible to receive Title IV aid, which includes grants, loans, federal work study and some scholarships. To return to Good standing you must complete the suspension requirements listed in our SAP Policy. If you have extenuating circumstances that led to your suspension status, you may submit a Satisfactory Academic Progress (SAP) appeal.
Q: Why am I on suspension and what can I do to get my financial aid back?
A: Financial aid suspension results when a student does not satisfy the financial aid requirements. Students who meet all the Satisfactory Academic Progress (SAP) standards will be eligible for financial aid. Click here to read about financial aid SAP standards. To resolve your suspension status, please read “Resolving financial aid SAP suspension” to begin the process for completing the suspension requirements. If you have extenuating circumstances that led to your suspension status, you may submit a Satisfactory Academic Progress (SAP) appeal.
Q: What happens to my financial aid if my class gets canceled?
A: You may enroll in another class during the adjustment period to replace the canceled class. If you do not enroll in a replacement class your financial aid will be adjusted and you may owe funds back to CCC.
Q: If I drop a class will it affect my financial aid?
A: Probably. Your financial aid may be reduced or canceled and you may owe money back. Talk to us before you drop any classes. Click here for Award adjustment information. You may also be jeopardizing future financial aid by dropping classes. Please review our SAP policy and talk to us before you drop any classes.
Q: I thought I applied for loans through the FAFSA, why don’t I have them awarded to me?
A: To apply for student loans at CCC you must submit a Loan Request Form to Financial Aid and also complete the additional Loan Requirements listed in the Loan Request Instructions. You must have a complete financial aid file for your Loan Request Form to be processed. You can check your financial aid status on Web4 Students. Click on Financial Aid> Financial Aid Status> Select Current Aid Year > view Unsatisfied Student Requirements to see if we are requesting anything from you.
Q: How much can I request for loans?
A:
Student Stafford Annual Loan Limits |
||
Grade level |
Dependent Students |
Independent Students |
Freshman (0-29 credits) |
*$5,500 per academic year— $3,500 of this amount may be in subsidized loans. |
*$9,500 per academic year— $3,500 of this amount may be in subsidized loans. |
Sophomore (30+ credits) |
*$6,500 per academic year— $4,500 of this amount may be in subsidized loans. |
*$10,500 per academic year— $4,500 of this amount may be in subsidized loans. |
* These amounts are for an academic year (Fall& Spring or Spring & Summer).
Loans requested for one semester only must be prorated (or reduced) and will be awarded in two equal disbursements: one at the beginning of the semester, and one at the mid-point of the semester, per Federal Regulations. If you borrow the maximum academic year amounts for which you are eligible in the fall and spring semesters, you will not have any eligibility left for the summer semester. If you are considering summer attendance, budget accordingly.
Q: My loans were approved, what do I do now?
A: Once the FFELP loan is processed, it is sent to American Student Assistance to be guaranteed within 24 hours. Additional requirements for loans to be disbursed are to sign a Master Promissory Note (MPN) online and complete Entrance Counseling online.
Q: I have now completed the loan requirements, when will I receive my loan check?
A: If you are a first-time, freshman borrower CCC must wait at least 30 days from the first day of class to disburse loan funds, per Federal Regulations. If you are not a first-time, freshman borrower, it will take approximately two weeks for the loan disbursement to be available to the student.
Prior to the start of the Fall & Spring semesters, first disbursement for eligible students is the Thursday, Friday and Saturday before the semester begins. Once the semester begins, disbursements will occur only on Fridays. For more on disbursement information, click here.
Q: Which lender should I choose? Which one is better?
A: Our Preferred Lender List attached to the Loan Request Form lists loan benefits for each individual lender. Financial aid staff cannot recommend one lender over any other.
Q: What is a subsidized and unsubsidized loan?
A: A subsidized loan is awarded on the basis of financial need. You will not be charged any interest until your loan goes into repayment. The federal government “subsidizes” the interest while you are enrolled in school in at least 6 credit hours. The interest rate for a subsidized loan in 2008-2009 is fixed at 6.0%, and in 2009-2010 is fixed at 5.6%.
An unsubsidized loan is not awarded on the basis of financial need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized; which means the interest will be added to the principal amount of your loan and additional interest will be based upon the higher (capitalized) amount. You do have an option to pay the interest only while you are enrolled in school which will then lessen the amount you will have to repay. The current interest rate for an unsubsidized loan is fixed at 6.8%.
Q: I’ve received my loan check but I don’t need that much. Can I return some?
A: Yes, you have 14 days to return all or part of your loan. Within the 14 days you are able to return the amount directly to CCC and financial aid will then send that amount back to the lender. The amount that you return will be deducted from the total amount of your loan you have borrowed.
Q: Why does my loan come in two disbursements? When will I get the second disbursement?
A: Fall and Spring loans will be awarded in two equal disbursements: one at the beginning of fall semester and one at the beginning of spring semester. It will also be the same for Spring and Summer loans. Single semester loans will be awarded in two equal disbursements: one at the beginning of the semester, and one at the mid-point of the semester.
Q: If I want to start repaying my loan while I’m still in school, do I pay the school?
A: No, once your loan has been disbursed to you it is now in the hands of your lender. You need to contact your chosen lender if you would like to start making payments towards your loans.
Q: I just started going to school again, how do I defer loan repayment?
A: In order to delay having to start repaying your loan, your lender needs to verify that you are enrolled in at least 6 credit hours at a post-secondary institution. To complete the enrollment verification process, you must login to Web4Students> click on Student Services> Student Records> Enrollment Verification> choose the current Aid Year and continue to read the instructions.
Q: What is a Lifetime (or Aggregate) limit?
A: An Aggregate is a limit of the total amount, or total sum, of Stafford loans a student can borrow throughout their entire college experience. The total that an independent undergraduate student can borrow while enrolled in college is $57,500 ($23,000 of that may be in a subsidized loan). A dependent undergraduate student can borrow a total of $31,000 ($23,000 of that may be in a subsidized loan).
Q: Am I able to keep track of my loan history?
A: Yes! It is a good idea to keep track of the amount of loans you have borrowed throughout college. The National Student Loan Data System, or NSLDS, is the U.S. Department of Education’s database for student financial aid records. NSLDS allows students to manage their student loans and grants online.
Q: What is loan default and how will it affect me?
A: Loan default occurs when you fail to repay a student loan according to the terms you agreed to when you signed the Master Promissory Note (MPN). You will go into default on your loan if you do not make a monthly payment for 270 days. If you default on your student loan:
You lose eligibility to defer payments
You could be charged collection costs
You lose federal and state income tax refunds
You lose other federal or state payments
Your Social Security benefits could be garnished
Your wages could be garnished
You lose eligibility for other student aid and assistance under most federal benefit programs
The Department of Education could take legal action
You may lose a professional license
Your credit rating will suffer
You interest rate may increase
Q: What is loan consolidation?
A: The combining of a number of loans into a single new loan. Consolidation may lower your monthly payment with different interest rates and typically extends your repayment period. However, there could also be some disadvantages. To consolidate, you must be in your six-month grace period or in repayment of your loans. Click here for more information from Direct Consolidation Loans.