FINANCIAL SERVICESFEDERAL PROGRAMS
Since eligibility requirements vary according to the program. The College carefully considers financial resources, academic standing, and the personal circumstances of each student when awarding aid. However, in order to received Federal Financial Aid you must: be a U.S. citizen or eligible non-citizen, have a valid Social Security Number, be registered with the Selective Service (if required), not be in default of any federal funds, make satisfactory academic progress, or sell illegal drugs. Please contact your financial aid administrator for further clarification.
All students interested in federal financial aid must fill out the Free Application for Federal Student Aid (FAFSA).
TYPES OF FEDERAL PROGRAMS
Pell eligibility will be established during the semester you have applied and have been fully admitted to DCC. This includes completing an application for admissions, declaring a degree seeking major or a certificate program, and submitting your final high school transcript, GED, or academic transcripts from other institution(s) to the Registrar’s Office. You financial aid cannot be disbursed until you meet all eligibility requirements.
Federal Supplemental Educational Opportunity Grant (SEOG)
A federal grant available to students who are Pell eligible and have exceptional need. You must be enrolled in at least six hours to receive this grant.
Federal College Work-Study (CWS)
Federal Work-Study (CWS) permit students to earn funds to help pay their college expenses. CWS is generally awarded at 18 hours per week. Payment is made twice a month. All students awarded CWS must go to the Office of Community for job placement. Please call the office no earlier than two weeks prior to the first day of class to be placed in the CWS program. CWS funds are limited and in high-demand. A College Work-Study award does not guarantee employment. Students must interview and be hired by a department.
Direct Subsidized Loans
Direct Subsidized Loans are for students with financial need. Your school will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow. You are not charged interest while you’re in school at least half-time and during grace periods and deferment periods.
Direct Unsubsidized Loans
You are not required to demonstrate financial need to receive a Direct Unsubsidized Loan. Like subsidized loans, your school will determine the amount you can borrow. Interest accrues (accumulates) on an unsubsidized loan from the time it’s first paid out. You can pay the interest while you are in school and during grace periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized (that is, added to the principal amount of your loan). If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount.
Additional loan types provided under the Direct Loan Program include Direct PLUS Loans (for parents) and Direct Consolidation Loans (to combine federal education loan debts into a single loan). Note: Before July 1, 2010, Stafford, PLUS, and Consolidation Loans were also made by private lenders under the Federal Family Education Loan (FFELSM) Program. As a result of recent legislation, no further loans will be made under the FFEL Program beginning July 1, 2010. All new Stafford, PLUS, and Consolidation Loans will come directly from the Department under the Direct Loan Program.
Veterans and veteran dependents may be eligible for educational benefits through the Veterans Administration. Veterans should contact their area Veterans Administration Office for eligibility requirements. Veterans are certified for enrollment through the Financial Aid Office.