How do I apply for financial aid and when do I apply?

The Free Application for Federal Student Aid (FAFSA) must be completed each year for the academic year beginning with the Fall semester and ending in Summer semester. Please review the steps to applying for financial aid. Students can submit their application electronically at studentaid.gov.

YOU MUST APPLY EVERY YEAR (not every semester). The financial aid year begins in the fall and ends in the summer. Typically, students can start completing their FAFSA beginning October 1 for the following academic year.

Is completing the FAFSA all I have to do to receive financial aid?

No. About 2 weeks after electronically submitting the FAFSA, you should receive notification from EACC's Financial Aid Office about the needed documents to complete your application process.

What types of financial aid do I apply for when I complete the FAFSA?

Eligibility for Pell Grant, SEOG Grant, Loans, and Federal Work-Study are determined when you complete the FAFSA. However, additional paperwork will be needed to determine your eligibility for student loans and federal work-study.

My application has been selected for verification, what does that mean?

The US Department of Education randomly selects FAFSA's for a review process called "verification." This means EACC must compare the information from your FAFSA with financial documents that you must provide to our office. You will be required to submit a copy of your (and your spouse or partner) IRS federal tax transcript from the previous year and verification work sheet. If you are a dependent student, you will also be required to submit a copy of your parent's (and parent's spouse or partner) IRS federal tax transcript from the previous year. You may also be asked to submit other documents, such as proof of the amount of untaxed income you, your spouse, or your parents receive.

What is EACC's Title IV Code?

EACC's code is 012260. By entering this code on your FAFSA, EACC will electronically receive a copy of your processed FAFSA results called a student aid report.

Do I need to be admitted before I can apply for financial aid?

No. Students can apply for financial aid at any time after October 1. However, to be awarded federal aid, students must be admitted to a degree seeking program at EACC.

What is a SAI?

The "Student Aid Index", or SAI, is a figure calculated from all the data you and your spouse/parent(s) enter into the FAFSA. This figure is used to determine the amounts and types of federal aid for which you are eligible.

I don't live with my parents, I file my own taxes, and they are not helping me with college expenses. Why am I not classified an independent student?

You are not considered an independent student if at least one of the following does not apply to you:

• You will be at least 24 years of age before January 1 of the school year for which you will receive aid
• You are married at time of application
• You have a legal dependent other than a spouse for which you provide over one half of his/her support
• You are an orphan or ward of the court (or were a ward of the court until age 18)
• You are a veteran of the U.S. Armed Forces

If you think you have unusual circumstances that would make you independent even though none of the above criteria apply to you, talk to the Financial Aid Director. Your status may be able to change if appropriate documentation can be provided and you have circumstances which warrant a change. The decision to override a student's dependency status is based on the judgement of the Financial Aid Office.

I plan to apply for a student loan only. Do I have to complete a FAFSA?

Yes, but in addition to the FAFSA, you must complete a Loan application worksheet and complete any required documents requested by the Financial Aid Office for verification.

What is the difference between a subsidized and an unsubsidized loan?

For both loans, the principal (the original amount a student borrows) is deferred until six months after the student graduates or stops attending school at least half-time. As its name implies, a subsidized loan is one where the government pays the interest on the loan while the student is in school. An unsubsidized loan is one where the government does not pay the interest while the student is in school, that is, the student is responsible for paying the interest.

Can I cancel my loan if I change my mind?

Yes. Students may cancel all or a portion of their loan by informing the Financial Aid Office in writing.

Do my grades affect my financial aid eligibility?

Yes. Please review the Satisfactory Progress Policy for specifics on the number of hours you must complete and the grade point average you must maintain in order to keep your financial aid.

Does dropping classes affect my financial aid eligibility?

Yes. At the end of each semester, (Fall, Spring, Summer) the Financial Aid Office will review the number of hours students complete in order to determine if the student has completed enough hours to maintain eligibility. The student must complete at least 64% of the cumulative hours attempted in order to continue receiving financial aid. Included in this is all hours attempted at EACC and any hours from other colleges attended that transfer toward the student's current major at EACC.

What are the requirements for maintaining my scholarship?

Scholarship requirements vary, depending on the scholarship. If you are receiving a EACC scholarship, you would have received an email at the time you were initially awarded the scholarship indicating the requirements. If you have further questions about the particular scholarship you are receiving, you may refer to the scholarship webpage or contact the Financial Aid Office.