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Frequently Asked Questions | |
About Financial Aid 
| Q: | What is financial aid? | ||||||||||||||||||||||
| A: | Financial aid
is provided through various sources to help students meet their financial
needs while attending college.
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| Q: | How do I apply for financial aid? | ||||||||||||||||||||||
| A: | The
first step is to complete the Free Application For Federal Student
Aid (FAFSA). You can get this application from any college financial
aid office, your high school counselor, or on the World Wide Web at
http://www.fafsa.ed.gov . |
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| Q: | What is Fayetteville Technical Community College's Title IV School Code? | ||||||||||||||||||||||
| A: | 007640
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| Q: | Will I qualify for financial aid? | ||||||||||||||||||||||
| A: | This depends
on the individual situation. All requests are reviewed separately
to determine eligibility. However, you should apply for financial
aid early, and request as many types of financial assistance as are
available within your field.
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| Q: | What kinds of aid are available? | ||||||||||||||||||||||
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A: |
Financial
aid is awarded from four main areas.
Grants - This is money that you do not have to repay. Scholarships - This is also money that you do not have to repay, however, there may be certain stipulations attached to the award. It is not unusual for donors of scholarship funds to request that the recipient work in the area of study for a specified period of time. Loans - These are funds provided by a lender which must be repaid. This repayment is usually with interest. There are many types of loans. Some are guaranteed by the Federal Government, and others which are unsecured, but provided by lending institutions for the purposes of education. Work Study - This is money you actually earn. Employment is provided by the college to let you earn money to help you pay for college.
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| Q: | Is all financial aid based on need? | ||||||||||||||||||||||
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A: |
No. By definition,
financial aid is based on need, however, some aid may be merit based.
Often assistance may be awarded for academic achievement or special
talents - in music or athletics, for example. Your financial
aid package may include both need and merit based aid.
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| Q: | What is a financial aid package? | ||||||||||||||||||||||
| A: | Your financial aid may come from a variety
of sources and may contain a combination of the four types of aid
available (grants, loans, scholarships and work study). Once
your FAFSA is submitted and processed, the Expected Family Contribution
(EFC) will be computed. This EFC is determined by averaging
the number of persons in the household, household income, and number
of persons in the household in college. The EFC then, is subtracted
from the cost of attendance. The remaining amount is the Financial
Aid Award Need.
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| Q: | What are the deadlines to apply for financial aid in order to charge tuition, books, and fees? | ||||||||||||||||||||||
| A: |
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| Q: | Are state financial aid funds available for students demonstrating "substantial financial need." | ||||||||||||||||||||||
| A: | North
Carolina Student Incentive Grants are available, and are based on
availability of funds. Students must complete the Free Application
for Federal Student Aid (FAFSA). The deadline to apply is March
15 of each year. State grants may be awarded to students enrolled
in the Community College system. Qualified applicants will be
notified by the college. Nurse Education Scholarship Loans are
also available. Interested students should contact the financial
aid office.
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| Q: | If I apply once, do I have to apply again? | ||||||||||||||||||||||
| A: | Yes, because financial aid is awarded per
academic year. To maintain financial aid, students should complete
2/3 of attempted hours per year, maintaining a minimum Grade point
Average (GPA) of 2.0. Students have one and one-half times the
program length to complete a degree.
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| Q: | How will I know how much aid I have been awarded? | ||||||||||||||||||||||
| A: | Approximately four to six weeks after your
completed financial aid file has been reviewed, you should receive
an award letter in the mail specifying your amount and type of
financial aid awarded.
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| Q: | How much will I receive on my Pell check? | ||||||||||||||||||||||
| A: | The amount of your Pell check will be the
amount remaining from your semester award after all tuition, fees
and book charges have been deducted. If you drop classes and
your enrollment status drops below full-time, your Pell grant award
will also be reduced.
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| Q: | How will I be paid for work study? | ||||||||||||||||||||||
| A: | You are paid for work study based on a
total number of hours projected for the semester at a designated hourly
wage. You will be assigned a maximum number of weekly hours
and are required to maintain daily accountability. At the end
of the month a time sheet must be signed by your supervisor verifying
the total hours worked. This time sheet should be turned into
the financial aid office.
Under no circumstances should you exceed your approved total work hours without coordination with the financial aid office. Checks are released and mailed on FTCC scheduled pay dates following receipt of the previous month's time sheets.
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| Q: | Are there short terms loans available to assist with tuition and books ? | ||||||||||||||||||||||
| A: | Short terms loans for tuition and books
are available for the fall and spring semesters (not available during
the summer semester). The maximum loan amount is
$702 for tuition OR $600 for books.
Applicants must be half-time students (6-8 credit hours) at the time of application. Repayment is required within a period of 90 days. One-third of the loan balance is due in 30 days, another one-third payment is due within 30 days and the remainder should be repaid within the next 30 days.
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| Q: | Are there any monies available for the purchase of books that don't have to be paid back? | ||||||||||||||||||||||
| A: | The FTCC Foundation awards
Student Book Fund grants with a maximum award of $150 per student
who is taking at least six credit hours. The Book Fund money
is only awarded to students who receive no other financial assistance
through scholarships, grants, and other tuition assistance for their
education.
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| Q: | Are emergency short term loans available for students? | ||||||||||||||||||||||
| A: | Emergency short term student loans up to
a maximum of $150 are available to full-time students for school related
emergencies. Applications are accepted on or after the 20% point
of semester. These loans must be repaid within a period of 60
days. One-third of the loan is payable in 30 days, and the
remainder should be repaid within the next 30 days. Emergency
short term loans are not available for summer semesters.
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