How do I apply?Award Guide
2008 - 2009 Award Guide (Conditions of Awards) (click name to print pdf document )Award Guide/Conditions of Awards
2007 2008 printer friendly version
Montgomery College designed its financial aid program to assist students whose family or personal circumstances would prevent them from meeting college expenses. Financial aid includes grants, scholarships, loans, and student employment.
WHO IS ELIGIBLE FOR STUDENT FINANCIAL AID?
You may be eligible if all of the following apply to you:
1. You enroll in an eligible degree or certificate program. (Enrollment in at least 6 credit hours each semester is necessary for some types of financial aid)
2. Are a U.S. citizen or an eligible non citizen
3. Demonstrate financial need through the federal formula
4. Make satisfactory academic progress toward completion of an associate degree or a one year certificate program
5.Are not in default on Federal Perkins Loans, Federal Stafford Loans, or Federal SLS/PLUS loans
6. Do not owe a refund on a Federal Pell Grant or Federal Supplemental Educational Opportunity Grant (FSEOG)· Report all financial aid awarded by private sources (such as scholarships, loans, employer reimbursement, and other third party payments)
7. Meet all additional federal, state, and institutional eligibility requirements for financial aid
8.Are a high school graduate, GED recipient, or you have passing scores on an approved ability
test. (Students younger than age 16 without a high school diploma or GED are not eligible for federal and
most state student financial aid)
9. Are not concurrently enrolled in high school at any time during the award year. (See “Special Programs for High School Students”) Students in the MC Gateway program are not eligible for federal or state financial assistance.
You must report any change in your family financial situation, school enrollment (including attendance), or additional nonfederal and non state
financial assistance to the Office of Student Financial Aid. Additional financial aid received may reduce the Montgomery College financial aid
award or the amount of student loans you may receive. You must report any change in your name, address, or phone number to the Office of Admissions and Enrollment Management.
Montgomery College uses the federal government’s formula to determine your ability to pay for your education. We collect eligibility information on the Free Application for Federal Student Aid (FAFSA) that you submit to the federal processor. The formula considers your family income (including your parents' income if you are dependent and your spouse's income if you are independent), the size of your family, the number of family members attending college at least halftime (not including your parents), and your family's assets. Federal, state, and local taxes paid, social security paid, and an allowance for supporting the family are also factors in determining your Expected Family Contribution (EFC). This amount represents what the formula says your family can contribute to your educational costs.
The Office of Student Financial Aid constructs average budgets that include tuition, fees, books, transportation, and living expenses. These budgets are the Cost of Attendance. The Office of Student Financial Aid subtracts the Expected Family Contribution from the Cost of Attendance. The difference between the Cost of Attendance and the Expected Family Contribution is your Financial Need. (Students who register for less than six credit hours each semester may not have financial need for most types of aid, except Pell Grants.) We review and award applications for financial aid in the order they are received, completed, and verified.
You may use your financial aid to pay for developmental course work. (For additional information, see the Satisfactory Academic Progress Policy.) Refer to the Schedule of Classes for the credit hour equivalent for developmental classes. Financial aid does not cover continuing education courses or classes students register for as “Audit.”
INDIVIDUAL PROGRAM INFORMATION
(Please note: Your financial aid award package may not contain funds from all of these programs.) Your initial financial aid awards are based on full time enrollment (minimum registration of 12 credit hours per semester). If you do not enroll full time, your financial aid may be reduced or cancelled, depending on the rules of the specific program.
Federal Pell Grant
This is the federal government’s primary grant program. We determined the amount of your award using your federal Expected Family Contribution and your enrollment level. We always base the initial award on full time enrollment (minimum of 12 credit hours per semester). It is adjusted for enrollment of three quarter time (9 to 11 charged credit hours – 75% of the full time semester award), halftime (6 to 8 charged
credit hours – 50% of the full time semester award), and less than halftime (1 to 5 charged credit hours – 25% of the full time semester award).
The determination of the credit hours your Pell Grant can pay for is based on your enrollment at the time your financial aid file becomes complete. If your file becomes complete before the semester Pell cutoff date, you are paid for the hours in which you are enrolled on the cutoff date. (See the Schedule of Classes for each semester’s Pell enrollment cutoff date.) If your file becomes complete after the cutoff date, your
Pell Grant pays for the hours in which you are enrolled on the day you complete your financial aid file. Students who do not enroll full time and do not receive the full amount of Pell Grant in both the fall and spring semesters, or who do not attend either fall or spring semesters, may be eligible for summer Pell Grant.
Academic Competitiveness Grant
This is a federal grant program for recent high school graduates who completed a rigorous secondary school program of study as determined by the state in which they graduated. It is designated for US Citizens receiving a Pell Grant and enrolled full time (minimum of 12 credit hours per semester) pursuing an associate’s degree. The first year grant is $750? the second year grant is $1,300. Second year students must have earned 24 credit hours toward their associate’s degree and have a cumulative 3.0 grade point average to receive the grant. The grant may be cancelled for a semester of part time (less than 12 credit hours) enrollment. Each grant may only be received once. If you believe that you meet these criteria and were not awarded this grant, notify the Office of Student Financial Aid.
Federal Supplemental Educational Opportunity Grant (SEOG)
This federal grant program supplements the Pell grant of students with exceptional financial need. The federal government provides MC with a limited amount of SEOG to award to students. We base your initial award on full time enrollment (minimum of 12 credit hours per semester). It will be reduced for less than full time enrollment.
Board of Trustees (BOT) Grant
This is an institutional grant program directly funded by Montgomery College. To receive a Board of Trustees Grant, students must have financial need and maintain at least a cumulative 2.0 grade point average (GPA). You may only use a BOT Grant to pay charges for tuition and fees. If your tuition and fees are waived for any reason, or are covered by a tuition specific award, we will cancel your BOT Grant.
Private Scholarships, and State Grants and Scholarships
Organizations and agencies outside of Montgomery College award these funds. These agencies have their own eligibility requirements to receive and renew these awards. We do not credit private and state scholarships to student accounts until we receive the funds from the state agency or sponsor issuing the awards. This includes Maryland State Scholarships and Grants as well as DC TAG and LEAP funds.
Maryland State Campus Based Educational Assistance Grants are awarded through Montgomery College to full time students who are Maryland residents and meet the state’s criteria for the award.
Maryland State Part Time Grants are awarded per semester to Maryland State residents with financial need who enroll in 6– 11 credit hours in the semester the award is made. Priority for part time grants is given to students who lose other state grants due to part time enrollment.
Federal Perkins Loan
This is a low interest federal loan for students with exceptional financial need. The federal government provides Montgomery College with a limited amount of funds to award students. Students must repay the loan to Montgomery College. Students receiving a Federal Perkins Loan must sign a promissory note before funds are credited to student accounts. The Office of Student Financial Aid will notify you in writing
when and where to sign your promissory note.
Federal Stafford and PLUS Loans (FFELP)
Montgomery College participates in the Federal Family Education Loan Program. Loan funds are provided to students by private banks. Federal Stafford Loans or PLUS Loans are not automatically included in your financial aid award package. Stafford Loans can only be obtained by completing a Student Loan Processing Form. You may borrow your loan from any lender you prefer. Before a processing form can be submitted you must attend an in person student loan information session. We will then determine your eligibility and process your loan. Students requesting PLUS loans must submit the appropriate loan application to the Office of Student Financial Aid.
Stafford and PLUS loan recipients must register for at least six credit hours each semester and remain registered at least half time until their loans are certified. If you drop below six credit hours in a semester or completely withdraw from school, you may not receive the full amount of your loan or the loan may be cancelled.
Students receiving Stafford and PLUS Loans must sign a master promissory note before funds are credited to student accounts. You may have funds deposited directly to your student account at the college if your lender participates in Electronic Funds Transfer (EFT). Lenders who do not participate in EFT issue checks payable to the student or to the student and the college. The student must endorse the check in the Cashiers Office. Federal PLUS loans must be endorsed by the parent and returned to the Office of Student Financial Aid before any funds are released to the parent.
Federal Work Study
Federal Work Study (FWS) is a student employment program. The award does not credit to your student account and does not pay your college charges directly. Students must request FWS awards at one of the MC campus financial aid offices. If you receive a FWS award, the Office of Student Financial Aid will help you find a job on campus or off campus in a community service agency. The college pays you biweekly for the hours you work in each pay period. The college directly deposits student earnings from FWS jobs to the student’s personal checking or savings account after you are placed in a job and complete a time sheet. Students may not work in FWS jobs until all required employment paperwork has been completed and returned to the Financial Aid Office.
HOW FINANCIAL AID PAYS YOUR BILL
The college disburses financial aid awards on a semester basis. We credit all financial aid proceeds, including student loans, to your student account at the college. The awards pay for all outstanding tuition and fees for the semester awarded. You can apply for a book credit at your campus financial aid office to pay for your books and supplies.
If you have a credit balance after all outstanding obligations are met, the college will issue you a refund check. The college sends refunds of any balance remaining after all your charges are paid approximately four weeks after the semester begins, if your aid has been awarded and credited to your bill. Awards from differing sources may credit to your account at different times.
Sometimes the amount of your financial aid is not enough to pay your entire semester bill at the college. If you have any amount of financial aid referenced on your semester bill, your classes will not be deleted for the semester at the time payment is due. You must still pay the balance of your bill.
If you need additional financial aid to pay your bill, you may want to consider requesting a Federal Stafford Loan, if you have not already done so. Students are responsible for all charges not covered by financial aid. If have financial aid referenced on your semester bill and you determine that you do not wish to attend MC for the semester, you must manually withdraw from any classes you have registered for prior to the refund date
in order to not be liable for those charges.
SPECIAL PROGRAMS FOR HIGH SCHOOL STUDENTS
Students who are dually enrolled in high school and Montgomery College may be eligible for the Maryland State Dual Enrollment Grant or a Board of Trustees High School Grant. A limited amount of funding is available. These programs have a separate application form, which is available at campus Financial Aid Offices, or on the web at www.montgomerycollege.edu/finaid/foundation.html.
BOOK CREDITS
Students who receive financial aid in excess of their charged tuition and fees may use their funds to pay for required books and supplies at any MC bookstore. If the only financial aid you receive is a BOT grant or other tuition specific award, you do not qualify for a book credit. The Office of Student Financial Aid issues book credits at the beginning of August for the fall semester and the beginning of December for the spring
semester. Check with the financial aid office for specific start dates.
ATTENDANCE AND WITHDRAWAL FROM CLASSES
You must be attending all of your classes in order to receive financial aid. The Office of Student Financial Aid must document your attendance in classes. Your financial aid may be canceled at the conclusion of the semester if proof of your attendance cannot be provided, even if you have not officially withdrawn from school and still owe a bill for tuition and fees. Nonattendance is considered an unofficial withdrawal from school.
If you receive financial aid from federal Title IV funds and completely withdraw from MC, the college returns your funds to the proper financial aid accounts on a proportional basis. Title IV funds includes Federal Pell Grant, FSEOG, Federal Perkins Loan, FWS, and FFELP. You may owe a bill for tuition and fees to the college after we reduce your financial aid.
Your official withdrawal date may be the date you process the withdrawal, or the documented date you stopped attending classes. Contact your campus financial aid office for examples of how this process affects the repayment of financial aid. Withdrawing from classes, dropping classes, or failing classes can have an effect on your satisfactory academic progress and ability to receive future financial aid.
REAPPLICATION
You must reapply for financial aid every academic year. Applications are available in the Office of Student Financial Aid and at www.fafsa.ed.gov the beginning of January for the following academic year that begins in September. You are encouraged to watch for financial aid news through campus media such as newsletters, student newspapers, or bulletin board displays.
IMPORTANT DATES TO REMEMBER
· January 1 – First day to file the FAFSA for the following academic year starting in the fall (you must reapply every academic year!)
· March 1 – deadline to file your FAFSA for Maryland State Scholarships
· May 15 – priority deadline for fall aid at Montgomery College
· June 1 – deadline for submitting an MC Foundation Scholarship application
· November 1 – priority deadline for spring aid at Montgomery College