When & How

 

Q: When do I apply for financial aid?
A: After January 1. The Free Application for Federal Aid (FAFSA) should be filed as soon after January 1 as possible.

Q: How do I apply?
A: Most ALL forms of financial aid require you to complete the FAFSA form. Complete the FAFSA application at www.fafsa.ed.gov

Q: What happens after I file the FAFSA?
A: Within 4-6 weeks of completion of the FAFSA (Free Application for Federal Aid) the student will receive a document called the Student Aid Report, commonly known as the SAR. The SAR has all the information that was reported on the FAFSA. The SAR will notify the student if they are eligible for the Pell Grant and what the family is expected to contribute to the cost of education. The Expected Family Contribution is commonly known as the EFC. When the Student Aid Report is sent to you from the Central Processor, thoroughly review the information on the SAR and make any changes or corrections that may be necessary and send the corrected SAR back to the Central Processor. Please read the comments on the SAR. They will provide you with important information.

Q: Must I complete a new FAFSA each year I am in school?
A: Yes a new FAFSA (Free Application for Federal Aid) must be completed each year. A student's financial situation (student income, parents income, number in household etc) will change from year to year and an EFC must be calculated based on the most up to date information.

Q: How do I renew my scholarship each year?
A: Different scholarships have different eligibility requirements. A new scholarship application should be completed each year if not otherwise indicated on the initial scholarship application.

Q: What is the timetable for awarding financial aid?
A: For incoming and/or continuing students who apply on or before the priority deadline of July 15th for the Fall semester, our anticipated goal is to begin sending award notifications before or during the first week of April. The priority dates are July 1st (Fall), December 1st (Spring), May1st (Summer).

Q: How is Financial Aid applied?
A: Pell Grant is awarded for the fall and spring semesters.The Pell award is based on full time enrollment.If you do not enroll for full time status, your Pell grant will be adjusted accordingly.If you do not attend full time fall and/or spring semester, your remaining Pell amount will be moved to the summer semester.If you do attend full time both fall and spring semesters, you will need to save some of your funds from your refund to apply toward your summer costs.

Q: Will I be notified about my status?
A: Yes.The Financial Aid Office will send an email to your CPCC email account indicating any documents needed to complete a financial aid file.Once a file is complete, an email indicating the types of aid awarded will be sent to your CPCC email account and your award will be posted under your MyCollege account.

Q: When will I be notified of the financial aid decision?
A: Students will receive a Student Aid Report (SAR) which indicates eligibility for this federal gift aid program. It is generally received four weeks after the FAFSA (Free Application for Federal Aid) has been received by the processing agency for the Department of Education. Students should follow all instructions on this form carefully.In approximately 4 to 6 weeks after the FAFSA is filed the college should receive the results of the FAFSA information from the Central Processor. Assuming that the FAFSA is valid and no changes by the student or parent are generated, an award letter should be produced, for all students accepted into the college, within a few weeks.When the College receives this information, it will then be reviewed. If additional documentation is required to clarify any questions, conflicting information, or verify the file in accordance with federal regulations, they will be requested at this time.

Q: Do I need to submit a copy of my and/or my parents IRS Tax Transcripts directly to CPCC's Financial Aid Office?
A: DO NOT SUBMIT IRS TAX TRANSCRIPTS UNLESS SPECIFICALLY REQUESTED TO DO SO BY THE FINANCIAL AID OFFICE. Copies of your IRS Tax Transcripts maybe required if you are selected for verification. If your IRS Tax Transcript is needed to process your financial aid you will be contacted by the Financial Aid.

Q: The FAFSA asks for certain tax information. What do I do if I/my parents have not filed income tax returns yet?
A: When filing the FAFSA (Free Application for Federal Aid) you may use estimated information. If you are going to complete the FAFSA using estimated information, use the best information to your knowledge at the time that you are completing the FAFSA. When your tax information is complete, make the corrections (if necessary) on your Student Aid Report and mail the SAR back to the federal processor. Only make changes on the SAR if the actual tax figures differ from the estimated figures.The Central Processor will then generate another Student Aid Report. In addition, submit a signed copy of your federal IRS tax transcript(s) to the Financial Aid Office.

Q: My parents are divorced (or separated), and I will live with my mother (or father). How do I apply for financial aid?
A: Provide only the financial information for the parent with whom you lived with the most in the last 12 months, regardless of which parent claims you as a tax dependent and providing half their support. If, for example, you reside with your mother and your father claims you as a tax dependent, you would provide only your mother's financial information and only your mother would complete and sign your financial aid application.

Q: My parents are divorced, and I live with my mother/father, who has remarried. Should I provide my step-parent's financial information?
A: Yes, your step-parent's financial information should be provided since she/he supports you by way of food, housing, utility payments, etc.

Q: I live with foster parents (or legal guardians). What do I do?
A: When the word "parent" is used in the application, it means your mother and/or father (birth or step), adoptive parents. If you had a legal guardian, because both parents are deceased, then you are to mark the orphan box and are considered to be independent.If you are living with a legal guardian and both of your parents are not deceased, you should contact the Financial Aid Office to discuss your particular situation in more detail.