FAFSA

FAFSA on the Web

Students can apply on-line at http://www.fafsa.gov. FAFSA on the Web is a quick and easy way to apply for aid. It immediately identifies potential errors and prompts corrections.

Before filing, it is recommended that a FAFSA on the Web Worksheet be completed. This worksheet provides assistance in collecting the required information before you complete the FAFSA on the Web. The worksheet can be downloaded from the FAFSA website or paper copies of the worksheet are available in the SCC Financial Aid Office.

The following information is needed prior to filing your FAFSA on the Web:

  1. Your FSA ID
  2. Your SSN
  3. Parents’ SSN if you are a dependent student
  4. Your driver’s license number (if you have one)
  5. Your Alien Registration Number if you are not a US citizen
  6. Your W-2 forms and any other records of money earned
  7. Your Federal Income Tax Return1
  8. Your parents Federal Income Tax Return if you are a dependent student1
  9. Untaxed income records, such as social security benefits, welfare, child support received, etc.
  10. Bank statements
  11. Stanly Community College school code: 011194
1

The IRS Data Retrieval Tool allows students and parents to access the IRS tax return information needed to complete the Free Application for Federal Student Aid (FAFSA). Students and parents may transfer the data directly into their FAFSA. 

If you are eligible to use the IRS Data Retrieval Tool, we highly recommend using the tool for several reasons:

  1. It’s the easiest way to provide your tax data.
  2. It’s the best way of ensuring that your FAFSA has accurate tax information.

If you do not use the IRS Data Retrieval Tool to provide tax information, you may be required to obtain an official tax transcript from the IRS. The IRS Data Retrieval Tool is temporarily unavailable, but will be operational on October 1.

 

The Paper FAFSA

The Department of Education no longer distributes Paper FAFSA’s; however, a student can request up to three (3) Paper FAFSA’s by calling the Federal Student Air Information Center at 1-800-433-3243 or by printing a PDF copy of the FAFSA located at https://studentaid.ed.gov.

Dependent Student Definition

Federal guidelines define a student as a dependent student if all of the following apply:

  1. Under the age of 24 years old
  2. Not married
  3. Not a Veteran
  4. Not currently serving Active Duty in the U.S. Armed Forces
  5. Not providing more than half of the support of a child or a dependent for the upcoming academic year.

Please note that there are special circumstances that apply to students who are emancipated minors, in a legal guardianship, a ward of the court or a homeless unaccompanied youth as defined by the Department of Education. These circumstances require documentation and will be handled by the SCC Financial Aid personnel.

Eligibility

To be eligible to receive federal aid, you must meet each of the following requirements:

  1. Be a U.S. citizen or an eligible non-citizen with a valid social security number.
  2. Be registered with Selective Service if you are a male who was born on or after January 1, 1960.
  3. Meet eligibility requirements if you have ever been convicted of selling or possession of illegal drugs while you were receiving federal student aid.
  4. Not be in default on a student loan or owe an overpayment or repayment to a Title IV financial aid program.
  5. Complete the Admissions requirements into an eligible curriculum program.
  6. Meet and maintain Satisfactory Academic Progress Standards as related to Financial Aid.

Determining Financial Need

There are two (2) Cost of Attendance or Budget categories:

  • Living at home with Parents and
  • Not living at home with Parents.

One of the most important steps in establishing financial need is determining how much you (and your parents if you are a dependent student) are expected to contribute towards your education. The information you report on the FAFSA is used to calculate your EFC (Expected Family Contribution). The EFC is a measure of your and your family’s financial strength and is used to determine your eligibility for federal student aid. Your financial need is the cost of attendance minus your EFC. The Cost of Attendance or Budget is determined by the Dean of Financial Aid and is based on enrollment at Stanly Community College. Data is collected from the College Board and SCC to estimate the average educational expenses for a nine-month period of enrollment including but not limited to tuition, fees, insurance, room and board allowance, transportation and miscellaneous expenses. Students are encouraged to contact the Financial Aid Office with any questions regarding Cost of Attendance or Budgets determinations.

Cost of attendance - EFC (Expected Family Contribution) - Aid from all other sources = Financial need

Steps to Apply for Financial Aid

  1. After the application for Admission has been submitted, the student should complete and submit a FAFSA. Note: completing a FAFSA automatically makes application for additional State Grants.
  2. Submitted FAFSA's may be selected for a process called verification either randomly by the Department of Education or by the SCC Financial Aid Office to resolve conflicting data. Students selected for verification will be required to submit various documents to the SCC Financial Aid Office. The verification process can take several weeks to complete and students are encouraged to submit all financial aid forms and requested documents in a timely manner prior to their enrollment date. Priority Deadlines are applicable to the submission of requested documents and are listed on the Financial Aid Calendar.
  3. Students will be notified of their financial aid eligibility. An award letter will state the type and amount of award. Financial aid is disbursed by crediting the student’s account in the Business Office.

    Applicants are eligible to receive grants, scholarship, work-study or any combination of these; however, the total combined sum of these must not exceed a student’s cost of attendance. The awarding of aid is based on funds available.

It Is the Student’s Responsibility as Related to Financial Aid to:

  1. Review and consider all information about the school’s programs.
  2. Read and understand all forms before signing.
  3. Pay special attention to and accurately complete the FAFSA. Errors can result in processing delays and in turn delays in receiving aid.
  4. Contact the Financial Aid Office before withdrawing from school or changing course schedule after the drop/add period.
  5. Understand and maintain Financial Aid Satisfactory Academic Progress Standards as related to Financial Aid.