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Unsubsidized vs. Subsidized Loans:
What are unsubsidized and subsidized loans and what is the difference between them?
At TCC students will be awarded Subsidized and/or Subsidized loans. These awards are in an “offered” status. The student must accept the loans and complete Loan Entrance Counseling and sign a promissory note with the department of education.
Subsidized loans- the student’s interest is paid while student is enrolled in 6 credit hours or more. When the student is no longer enrolled in 6 credit hours or more they will begin making payments on the interest and the principle.
Unsubsidized Loans- the student is responsible for the interest while they are enrolled in 6 credit hours or more. When the student is no longer enrolled in 6 credit hours or more, they will begin making payments on the interest and the principle.
https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized
Pell Grant and Book Scholarship Details:
How do Pell Grants work? What do students need to know about the book scholarship and how it is applied?
If a student is Pell grant eligible it will be indicated on their award notification. Approximately 10 days before courses begin TCC will apply the students Pell grant eligibility to their TCC account. The amount is determined by enrollment level. The amount applied to their account will pay all balances due to TCC, then send a refund amount to Bank Mobile. Bank Mobile will then apply the refund amount to the student’s refund preference.
The book scholarship follows the same process except there are enrollment requirements for the scholarship. It requires 9 credit hours of enrollment and a 2.75 GPA.
https://studentaid.gov/understand-aid/types/grants/pell
Impact of SB-17 on Scholarships:
How does SB-17 affect eligibility for scholarships? How can students know about being recipients of such scholarships?
SB-17 prevents TCC from administering scholarships that are design for a particular segment of our population.
https://www.tccd.edu/about/legal/sb-17/
Stacking Scholarships:
How can students stack multiple scholarships and what limitations or rules might apply?
Students may stack all financial aid to include scholarships. A student may not receive financial aid beyond the cost of attendance. At TCC the cost of attendance is approximately $21,000.00. This will vary depending on different variables, like residency status (in Tarrant county or out of Tarrant county).
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