What is Financial Aid?
Financial aid helps students and their families pay for college expenses, both direct (charged to your college student account including tuition, fees, and on campus room and board) and indirect (including, but not limited to books, supplies, and transportation to/from college). There are several types of financial aid including grants, scholarships, loans and work study and financial aid awards may include a combination of the various types of aid.
Grants: no repayment necessary; usually based on need
Scholarships: typically no repayment necessary; based on merit and/or need
Loans: repayment is required; loan type is based on need
Federal Work Study: work for an hourly rate; based on need
Tell me what I need to know to complete the FAFSA?
Then you need to complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov.
Make sure you have the following information at hand:
Completed 2015 Federal Tax Return (1040, 1040A, 1040EZ) and all W2 documents
Social Security Numbers and Birth Dates for student and parent(s), if parental information is required)
FSA IDs (username and password) for student and one parent (if required) – see above
Balance of Cash, Savings, and Checking Accounts
Balance of Other Non-Retirement Assets and Second Property Equity Information
List of Colleges/Universities to be sent your information
NCC School Code: 009236
Alien Registration Card (if applicable)
Are there any other steps or information I need to know?
Yes! NCC has Financial Aid Priority Deadlines. Completing all the steps by the priority deadlines means your financial aid will be in place for payment due date. You can still apply for financial aid after the Priority Deadline but NCC cannot guarantee that your financial aid will be available by payment deadline.
Review the Student Aid Report (SAR) you received from FAFSA.
Complete any indicated steps.
Look for mail from NCC Financial Aid or check your NCC Student Information System (SIS).
Complete any indicated steps.
Note: An incomplete financial aid process can prevent some and/or all disbursement of financial aid to the student’s account.
Receive your Financial Aid Award Letter from NCC listing the aid for which you are eligible.
NCC recommends registering for classes before returning your award letter so you can determine the cost of your courses and accept only the amount of loans needed.
If accepting Federal Student Loans…
You must be registered for a minimum of 6 credits per semester.
You must complete Loan Entrance Counseling and Master Promissory Note at https://studentloans.gov using your FSA user ID.
Return your signed and completed Financial Aid Award Letter two weeks prior to semester start.
A signed completed Award Letter and completion of any loan requirements provides a 45 day payment deferment of the accepted amounts.
NCC FINANCIAL AID PRIORITY DEADLINES
Summer 2017 Semester: April 18, 2017
Fall 2017 Semester: July 17, 2017
Spring 2018 Semester: December 5, 2017
If you need helping completing the application please come by our office in Room 97 – no appointments are necessary. We are open Monday to Thursday 8am to 6pm and Friday 8am to 4:30pm.
Need helping doing a budget? Planning for your future? Managing your finances for after graduation? Check out GradReady today! It’s a free tool for NCC Students.
Financial Aid Tools
A guide for early college financial planning
Information to help students find scholarships
Information for alternative finance options
Frequently asked questions for student loan refunds
As a service to current or prospective students and current or prospective employees, and in accordance with the disclosure and reporting requirements of the Higher Education Opportunity Act (HEOA), NCC has designed this page to provide quick access to important consumer information. CLICK HERE.
The College is well aware of the financial burden of meeting college costs. The Financial Aid Office at NCC encourages students to apply for assistance. Assistance is available in the form of scholarships, grants, loans, and work study. Federal, state, and private scholarship funds are often limited. Applications with the greatest financial need receive first consideration for assistance. Applications should be filed by May 1 each year to receive consideration for state grants.
What is Financial Aid?
The first step in applying for financial aid is for the student and, if applicable, his/her parent or his/her spouse, to complete the Free Application for Federal Student Aid. The school code for Nashua Community College is 009236. Please allow 1-2 weeks for the results of your processed FAFSA to be sent to the College. Upon receipt of your processed FAFSA, the Financial Aid Office will contact you if additional information is required.
Requirements of an applicant each academic year for him/her to be awarded financial aid:
Completion of the financial aid application process;
Admission to an associate degree or a certificate program that is financial aid eligible;
Be a United States citizen or eligible non-citizen;
Be registered with the Selective Service if male between the ages of 18 and 25;
Not owe a refund on a grant or be in default on any federal student loan;
Not have borrowed in excess of the annual or aggregate federal loan limits;
Demonstrate financial need as determined by federal and/or state guidelines;
Enrollment in a minimum of six (6) credits per semester. The Pell Grant may be awarded to students with extremely low expected family contribution (EFC) who are enrolled in three (3) credits per semester;
Maintain Satisfactory Academic Progress (SAP) according to the guidelines; and
Reapply every academic year.
Student Aid on the Web has detailed information on all federal student aid.
Federal & State Grants
Federal Pell Grant
The Federal Pell Grant is a federally funded program that assists students who demonstrate financial need with the actual costs of attending college. A Pell Grant is considered "gift money" that does not have to be repaid. To qualify for a Pell Grant, you must be an undergraduate student who does not already have a bachelor degree. Awards are granted on a sliding scale ranging from $290 to $5,775 and are based on the expected family contribution (EFC) determined by the FAFSA.
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG is a federal grant made available to students who demonstrate exceptional financial need. The FSEOG is considered "gift money" that does not have to be repaid. To qualify for FSEOG, you must have Pell Grant eligibility, however, all students who receive the Pell Grant will not receive FSEOG.
Massachusetts and Vermont State Grants
The Massachusetts State Grant and the Vermont State Grant programs provide grants for their respective residents attending a college in his/her state or another state. Students must demonstrate financial need. Massachusetts residents must submit theFAFSA by May 1 of each year to be considered.
Federal Perkins Loan Program
The Federal Perkins Loan program provides low interest subsidized loans to students who demonstrate financial need. This loan program has a five (5) percent interest rate and repayment does not begin until nine (9) months after graduation, withdrawal, or when enrollment drops below six (6) credits.
Federal Direct Loan Program
Requirements: A student must be enrolled in a minimum of six (6) credits to be eligible for these programs. The amount a student may borrow may not exceed the cost of attendance minus other assistance (or, for subsidized loans, other assistance plus the EFC). All students must complete a Master Promissory Note at www.studentloans.gov.
Direct Subsidized Loans
These loans are subsidized by the federal government for students who demonstrate financial need. Subsidized means the student is not responsible for payment of accrued interest during periods of at least half time enrollment [six (6) credits or more]. Repayment begins six (6) months after graduation, withdrawal, or when enrolment drops below six (6) credits.
Unsubsidized Stafford Loans
These loans are not subsidized by the federal government and are not based on financial need. Unsubsidized means the student is responsible for payment of accrued interest during periods of at least half time enrollment although actual payment can usually be deferred. Repayment begins six (6) months after graduation, withdrawal, or when enrollment drops below six (6) credits.
Annual Loan Limits
Dependent Students (except students whose parents cannot borrow a PLUS loan) who qualify, may borrow the following per academic year:
Freshmen (0-31 credits earned) up to $5,500 of which only $3,500 can be subsidized;
Sophomore (32+ credits earned) up to $6,500 of which only $4,500 can be subsidized.
Independent Students and Dependent Students whose parents cannot borrow PLUS who qualify may borrow the following per academic year:
Freshmen (0-31 credits earned) up to $9,500 of which only $3,500 can be subsidized;
Sophomore (32+ credits earned) upt to $10,500 of which only $4,500 can be subsidized.
The average loan debt for graduates is $6,123.
Aggregate Stafford Loan Limits
There are aggregate Stafford loan limits. Students who qualify may borrow the following to complete an undergraduate degree:
Dependent Students up to $31,000 of which only $23,000 can be subsidized;
Independent Students up to $57,500 of which only $23,000 can be subsidized.
Federal Parent Loan for Undergraduate Students (PLUS)
Parent Loans for Undergraduate Students (PLUS) are loans made to parents of dependent undergraduate students. Parents may borrow up to the student's cost of attendance less anticipated financial aid. Additional information is available through the Financial Aid Office or at studentloans.gov.
Alternative Loans for Parents and Students
These loans are offered by various lenders to assist parents and students meet educational expenses. Such funds may assist families that do not qualify for or need to supplement other forms of financial aid. Information is available at here.
Lender Code of Conduct
Information is available on the Code of Conduct for lenders of Alternative/Private Loans by CLICKING HERE.
Federal Work Study Program
Federal work study opportunities exist both on and off the NCC campus. Hourly wages range from $9.00 to $10.00 per hour.
On-campus jobs are available throughout the campus.
Off-campus jobs are available throughout the local Nashua area in non-profit agencies.
Students must provide their own transportation. Additional information is available through the Financial Aid Office.
Failure to Complete Classes and Financial Aid
Return of Financial Aid Funds (Return to Title IV)
Financial aid recipients who withdraw from all classes or stop attending classes prior to completing more than the 60% point in the semester may be required to repay all or a portion of the financial aid they received for that semester. Recipients may also be required to pay back, to the College, all or a portion of tuition charges.
Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student ceases attendance, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. Please select here for complete information.
Maintaining Financial Aid Eligibility Aid
Satisfactory Academic Progress (SAP)
The Financial Aid office is required by federal regulations to periodically review financial aid recipients to ensure that they are making satisfactory academic progress towards the completion of his/her program of study. Satisfactory academic progress (SAP) for financial recipients is measured by both qualitative and quantitative standards and is an assessment of a student's cumulative academic record while in attendance at the College. Please select here for complete information.
The following is a sample Cost of Attendance (COA) constructed for a 9 month academic year with full time attendance (24 credit hours for the year) for a student living off campus. Although this is a sample COA, and as such will not be the final COA used to award student aid, students can use these figures as a guide for planning the academic year.
Tuition (24 credit hours): $4,800
Room and Board: $13,329
Books and Supplies: $1,400
Personal Expenses: $1,800
Total Sample Cost of Attendance: $24,420
Special Note: A student’s COA must be reviewed each semester. Generally speaking, the enrollment level during the Fall Semester dictates the students COA for the year. Full Time is (12+credits), Mixed is (6 –11 credits), and Less than half time is (less than 6 credits). However, if a student is enrolled for less than half time in a semester, their COA must be adjusted for that semester to exclude Personal Expenses and Room and Board. Additionally, when a student withdraws from a course or course(s), a review of COA is required and the COA may be modified.
Contact us or stop by and see a staff member in the financial aid office. No appointment necessary. We’re here to help.
Office: Room 97
Address: Financial Aid Office, Nashua Community College, 505 Amherst St., Nashua, NH 03063