FINANCIAL AID

FINANCIAL AID Q&A

Reading SI Information on FAFSA:

What should students be aware of when reviewing their Student Information (SI) on their FAFSA?

When a student receives the results of their FAFSA they should review all data to ensure there are no errors. They should also ensure the school(s) they plan on attending are listed on the FAFSA results. There will also be comments on the FAFSA results if further information is needed. For example, in my case I was born over sees to US military members. My FAFSA indicated the department of education could not confirm my US Citizenship. I was required to bring proof of citizenship to the financial aid office. This is one example of why reviewing the FAFSA results are important to students.

Part-Time Status and Summer Classes:

How can part-time students transfer a portion of their FAFSA funds to cover summer classes? 

For Pell grant eligible students they are eligible during the summer for a maximum of one full semester of their Pell grant. For example, if the student is eligible for $1000.00 for fall and $1000.00 for spring they would be eligible up to $1000.00 for the summer.

Dual Credit and Financial Aid (FAFSA and TPEG):

How does dual credit impact a student’s eligibility for FAFSA and Texas Public Education Grants (TPEG)? Are there specific rules or processes students should be aware of when applying for dual credit financial aid?

Dual Credit students are not eligible for federal financial aid. They should not be completing the FAFSA. Most Dual Credit students will have their tuition covered by TCC and for Dual Credit students that are receiving free or reduced lunches they will receive their books at no cost.

https://www.tccd.edu/academics/high-school-programs/dual-credit/

Changes in the Current FAFSA vs. the Old FAFSA:

What are the key differences between the current version of FAFSA compared to the older versions? 

To summarize the changes; It is shorter, the list of questions went from over 100 to approximately 30 questions. The student and/or parent are no longer manually enter their income information. The FAFSA requires a data exchange between the IRS and the FAFSA for income information. More students are Pell grant eligible.

https://studentaid.gov/articles/fafsa-changes-coming/

https://studentaid.gov/help-center/answers/article/fafsa-simplification-act

How Income Affects FAFSA Eligibility:

How can a student’s income affects their FAFSA eligibility and financial aid package?

Income will impact the student’s eligibility. For example, a student that has a lower income will be more likely to be Pell grant eligible than a student that has a higher income. I can’t really give a specific income example because other factors such as , number in the household, number of college students in the household, taxes paid, assets, and other criteria. Regardless of income level, a students should apply for financial aid. Going back to your question regarding student loans. If a student that completed a FAFSA and was not grant eligible would not necessarily need a loan at TCC due to our cost of attendance. However, if during the semester a financial barrier comes up and they need a loan, we can get to the student faster if the FAFSA is complete. If they have not completed the FAFSA it will take longer to help the student.

Independent vs. Dependent FAFSA Status:

What is the difference between being classified as an independent vs. dependent student on FAFSA, and how does this impact the amount of aid a student is eligible to receive?

A Dependent student would be one who is below the age of 24, not a Veteran, not on active-duty military, not a graduate student, not in a guardianship or foster program, and not homeless or in jeopardy of being homeless.

An Independent student is at least one of the above.

Dependency status may impact eligibility due to the income of the family. 

Submit your FAFSA now to be eligible for grants.