Who is Eligible to apply for Financial Aid?
All students in need of financial assistance or interested in scholarships are encouraged to apply. For federal programs the student must:

• Enroll in an eligible program of study leading to a degree, diploma, or certificate.
• Be a U.S. citizen or an eligible noncitizen.
• Have a high school diploma or complete the GED before receiving federal aid.
• Not be in default on any loan nor owe repayment on grants previously received from any college.
• Be registered with Selective Service if required to be.
• Demonstrate financial need (except for unsubsidized Stafford and PLUS loans).
• Maintain the standards of satisfactory academic progress.

How do I apply for Financial Aid at Northeast Community College?

The first step in applying for financial aid is completing the Free Application for Federal Student Aid (FAFSA). This may be done as early as January 1 after your tax returns are complete. Students are awarded on a first-completed, first-awarded basis, which means that early application is necessary if you are to be considered for all possible types of aid.

You will need the following information before applying for Financial Aid:

• 2007 Federal Tax Returns and W2’s
• Statements showing the amount you received in 2007 for untaxed income such as child support, social security, or ADC.
• A PIN (Personal Identification Number).  This number will be used to electronically sign your Free Application For Federal Student Aid (FAFSA).  Both you and one parent, if you are a dependent student, will need a PIN.  If you and your parent need PIN’s, you can obtain them at www.pin.ed.gov.  Please allow at least 10 days to receive a PIN.

Next, complete the Free Application for Federal Student Aid (FAFSA).  You can do this several different ways:

• Print and complete a FAFSA on the Web Worksheet found on the www.fafsa.ed.gov web site.
• As soon after January 1, 2008, as possible, file your 2008-2009 FAFSA on the web:  www.fafsa.ed.gov.  The NECC code is 002556.
• Be sure you and your parent (if you are a dependent student) sign your FAFSA using separate PIN’s or print the signature page and send the completed form to the Central Processing Center.  Without completed signatures, your FAFSA will reject.
• Additional documentation may be required when NECC receives your FAFSA information electronically; corrections could delay the award process.

Option 2 – If you don’t have access to the internet, send the following to the NECC Financial Aid Office for verification; your FAFSA will be submitted electronically by Northeast Community College:

• 2008-2009 Renewal FAFSA or FAFSA,
• 2008-2009 Verification Worksheet,
• Signed copies of your 2007 tax returns and W2’s and Schedules C, E and F (if filed),
• Signed copies of your parents’ or spouse’s 2007 tax returns and W2’s and Schedules C, E and F (if filed), and
• 2007 year-end documentation of child support received, Social Security benefits, welfare or other untaxed income.

• Send your completed and signed; full paper FAFSA to the Central Processor.  The NECC code is 002556.
• Additional information may be required when NECC receives your FAFSA information electronically. 

• All Northeast Community College financial aid forms can be downloaded from the NECC website at  www.northeastcollege.com
• Looking for scholarships?  Search the web for scholarships at www.fastweb.com
• Research Northeast scholarships at www.northeastcollege.com
• Have questions about financial aid?  Try these links for helpful information:

http://www.northeastcollege.com/PS/Financial_Aid/links.php

What is Northeast Community College's Title IV Code?
The Title IV Code is 002556.

What happens after my FAFSA is complete?

When your financial aid information is filed, a federal formula is applied to determine how much you and your family should be able to contribute toward your college costs. The Student Aid Report (SAR) from the processor reflects the information submitted and will allow the college to determine your eligibility for all types of aid.

Check your SAR for errors, giving special attention to items questioned by the processing center. You can make changes to your FAFSA electronically, if necessary. Otherwise, if you received a paper SAR, enter the changes on Part 2, sign and forward all pages of the SAR to the Financial Aid Office. DO NOT mail the SAR or other documents to the federal processing center.

How is my family's contribution determined?
The factors that determine a family's ability to contribute to college costs are: student and parent income and assets, total number of family members, number of family members attending college (excluding parents), age of older parent, and state of residence. The computation allows for necessary family expenditures such as taxes, reasonable living costs, and usual medical expenses, and protects a portion of a family's assets as a retirement allowance depending on age of older parent. A part of the remaining income and assets is assumed to be available for college expenses.

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How is my financial aid determined?
In accordance with federal regulations, the following formula is used to determine your financial need:
  Estimated Cost of Attendance (NOT your bill)
- Expected Family Contribution
  =Financial Need

Staff will try to fill need by awarding various types of aid. Pell Grant is determined first; then scholarships are added to the aid package. Eligibility for Academic Competitiveness Grant (ACG) will be determined when a final high school transcript has been received. If funds are still available, you will be considered for supplemental grants and Federal Work-Study. Loans are added last. All financial aid is split between the fall and spring semesters. Outside scholarships of $100 or more will be split between the two semesters unless otherwise stated by the donor.

• When a correct summary from the FAFSA processor is received electronically in the Northeast Financial Aid Office and we have received all required forms and documentation, an award letter will be prepared for you.
• Students will receive either a paper award letter or a postcard with directions to go to HawkNet on the Northeast web site.
• You must accept or decline the aid offered, either by returning a copy of the award letter to the Northeast Financial Aid Office or accepting or declining the aid on HawkNet.
• If loan eligibility exists, you must then decide if a loan is required. See Loan FAQ for loan processing information. Each student borrower must complete a master promissory note (MPN) and loan counseling when borrowing for the first time at Northeast.
• Aid offers may be modified if the student is not enrolled full-time on the first day of classes . No adjustments will be made after that date unless the student receives additional outside aid, does not begin attending all classes for which he or she is registered, or ceases attendance in some or all classes during the 100% refund period. Student status is determined as follows:

• Full time (FT): 12 or more credits attempted per semester
• Three-quarter time (TT): 9-11 credits attempted per semester
• Half time (HT): 6-8 credits attempted per semester
• Less than half time (LTHT): 5 or fewer credits attempted per semester

How and when do I receive my financial aid?
All grants, scholarships, tuition waivers, and loans are credited to your student account with the Business Office on a semester-by-semester basis. After all NECC costs for the semester have been paid from your account, a refund check will be mailed approximately fourteen days after the start of the term or completion of the aid process.

*Federal Work-Study wages are not credited to student accounts. Students receive a paycheck every two weeks for actual hours worked.

What if I need more financial aid than I am awarded?
There are alternatives for students who do not qualify for grant assistance or whose families need help meeting the family contribution.

One alternative is the Federal PLUS. It offers parents the opportunity to borrow up to the full cost of education (less any financial aid) each year. Interest is the parent’s responsibility and is calculated at a fixed rate of 8.5 percent and begins to accrue immediately once the loan is disbursed. Repayment usually must begin within 60 days. Some deferment options may apply. There is no income restriction or needs test for the PLUS program. Lenders do require a satisfactory credit check for loan approval.

Further information on all loan programs is available upon request from the NECC Financial Aid Office.

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What is a dependent student? An independent student?
The basic premise of the financial aid program is that students and parents have the primary responsibility for educational expenses. If you are a dependent student, we determine your financial need using financial information provided by both you and your parents. An independent student's financial need is determined by his or her income and assets and, if the student is married, the income and assets of his or her spouse.

You will be considered an independent student if:

• You are 24 years of age before January 1 of the award year,
• You are married, as of the day you completed the FAFSA,
• You are working on a degree beyond a bachelor's degree,
• You have children who receive more than half of their support from you,
• You have dependents (other than your children or spouse) who live with you and receive more than half of their support from you,
• You are an orphan or ward of the court, or
• You are a veteran of active duty in the U.S. Armed Forces.

If the above conditions do not apply to you, you are a dependent student and must use your parents' information. If you feel that special circumstances exist, please contact the Northeast Financial Aid Office. **Independent status is NOT determined by your wish to be financially independent of your parents nor on the basis of your parents' un-willingness to finance your college education.

How do I renew my financial aid or apply in future years?
The procedures described below apply to all continuing students who wish to apply for financial aid for the upcoming academic year. Financial aid is awarded on an annual basis and no aid award is renewed automatically. Each student is responsible for reapplying each year.

To apply for federal and state aid, a student must file a current version of the Free Application for Federal Student Aid (FAFSA). Students renewing federal aid eligibility may complete a Renewal FAFSA online.

Students who receive aid from a private agency or donor are responsible for completing any renewal documents the agency or donor may require.

Does my financial aid transfer from another school?
If you have already done a FAFSA for the current school year, you do not need to another one; you just need to add Northeast to the list of schools on the FAFSA website. Just click on “Make Corrections to a processed FAFSA.” Northeast's Federal School Code is 002556. If you did your FAFSA on paper and received a Student Aid Report (SAR), it can be submitted to the NECC Financial Aid Office along with the verification worksheet and copies of tax return and W2’s.

You must cancel your financial aid at your other school and you will be re-awarded at Northeast. If you are awarded a student loan you will have to do a loan application and loan counseling for Northeast. If possible, use the same lender for all loans for easier repayment.

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More Information

Financial Aid Office
finaid@northeastcollege.com
(402) 844-7285