Financial Aid Cheat sheet


                                     Helpful Financial Aid Links:

www.studentaid.ed.gov : Learn more about the types of schools and the kinds of degrees and credentials they offer ( associate degree, bachelor's degree, master's degree, etc): select "choosing a School, " then " Types of Schools"

http:collegecost.ed.gov: Find information about tuition and net prices of post secondary institutions

www.studentaid.ed.gov: For details about education costs covered by federal aid, select " Choosing a School," then :" Understanding the Costs"

www.nces.ed.gov/collegenavigator: For information about accreditation, crime statistics, enrollment, tuition, fees, and more about a school, visit the U.S. Department of Education's College Navigator.

                                                    Types of Student Financial Aid:

  • Grants- Grants are need based funds provided by federal and state governments that do not have to be repaid. To be eligible for federal and state grants, students must meet eligibility requirements.

  • Scholarships-  available through post secondary institutions. 

  • Childcare Assistance : The North Carolina General Assembly appropriates limited funding each academic year to be used to assist student-parents with child care expenses. The intent of this grant is to assist need-based students with the financial responsibilities of child care so they may stay enrolled and complete their educational goals. 

  • Students must apply for assistance each year 
  • Forms required for Daycare assistance
  • Completed FAFSA is required for consideration
  • Available funds are limited, students should apply early
  • Applications are available in all Financial Aid Offices

  • Loans:  A loan is money one borrows and must pay back with interest.  Typically, student or education loans have a long repayment period of at least 10 years and repayment does not begin until the student graduates or withdraws from school.  Some education loans may have an option for loan forgiveness which means part of the loan is forgiven based on work in selected fields, income or some other requirement.  Students are strongly encouraged to apply for scholarships and grants before applying for loans

  • Payment Plan: The payment plan covers curriculum tuition and fees only - it does not cover books. Please review the terms and conditions prior to making your decision on whether the payment plan option is the method that best fits your needs.  A payment plan is not necessary or recommended for students who have financial aid to cover the cost of tuition and books. 

  • Veterans Assistance: The Department of Veterans Affairs offers educational assistance to veterans who contributed towards their education while on active duty; and attend an eligible institution for the Department of Veterans Affairs education benefits for all chapters of the GI Bill.

  • Work Study: 

  • Must complete the FAFSA.
  • Depending on available funding, students generally work 10 to 15 hours per week for the school, while classes are in session. (Maximum of 20 hours)
  • Students must pass a criminal background check to qualify for employment.
  • It is a general practice that students do not work in their program of study.
  • Earnings are at least the minimum wage amount
  • Apply early; jobs are very limited.
  • Work Study applications are available in all Financial Aid Offices
  • Priority is given to students who are enrolled in at least 9 credit hours for fall and spring terms and 6 credit hours for summer term
  • Student will not receive payment for work done during scheduled class time
  • Paychecks are received at the end of each month
  • Depending on the student's employment start date, there may be a minimum delay of 2 -1/2 weeks before new work study students receive their first paycheck.
  • Students may have to interview with prospective supervisors