Questions and Answers Regarding Financial Aid

What are the Steps I have to take to apply for financial aid?
  1. For any type of federal financial aid, including student and parent loans, you must complete the Free Application for Federal Student Aid (FAFSA) at here.
  2. If you desire a Direct Stafford Loan, Direct Stafford Loan, you will also need to:
    1. Complete the Master Promissory Note (you can do that online here)
    2. Complete Loan Entrance Counseling online at here.
Do I need any cash to start classes?

If you have been approved for financial aid that is sufficient to cover your school charges, you do not need to pay any cash at the time you begin classes.  If you do not have sufficient financial aid to cover your entire school bill, you will need to pay the remainder before you begin classes.

Why do I have to provide my parent's information?

There are some yes/no questions on the FAFSA that determine your dependency status. Even if you are self supporting, you are considered a dependent of your parents unless one of the following conditions is met:

  • You are 24 years old before January 1 of the year you are applying for financial aid.
  • You are an orphan or were a ward of the court until age 18.
  • You are a veteran.
  • You are a graduate student.
  • You are married.
  • You have a child or dependents (other than children or spouse) who receives more than half of their support from you.
  • You are currently serving on active duty in the U.S. Armed Forces for purposes other than training.
I already filed the FAFSA but did not list SLCC as one of my schools.

You can make a correction online and add our school code. Click here and select the link “Add or Delete a School Code.” SLCC’s FAFSA code is 012580.

My parent refuses to sign the FAFSA or submit FAFSA information

If there are unusual circumstances, such as abuse, abandonment, etc., the Financial Aid Office may be able to do a dependency override if you provide sufficient documentation. Contact the Financial Aid Office to request a Dependency Override form if this is the case. If circumstances do not warrant a dependency override, there are provisions in which a student whose parents refuse to cooperate in completing the FAFSA may be able to receive an unsubsidized Stafford Loan. Contact the Financial Aid Office for more information.

What determines the Expected Family Contribution (EFC) when I file my FAFSA?

Family income is one factor, but not the only one. Family size, number in college, untaxed income, assets, etc. are also taken into consideration. The student’s own income and assets are assessed more heavily than the parents’.

My family’s financial situation has changed since we reported on the FAFSA

The Financial Aid Office may be able to do an income adjustment based on the current situation. Request an Income Adjustment Form from the Financial Aid Office.

Is my stepparent required to supply his or her information on the FAFSA?

Yes. Even if your stepparent has not adopted you, the custodial parents are both required to submit their information on the FAFSA.

Do I need to include my spouse's income on my FAFSA?

Yes. When asked for income and taxes paid and other tax items, if you are married and filed separately, you must total the amounts from both incomes.

My parents are divorced. Whose information do I report on the FAFSA?

Only the custodial parent (parent with whom the child lives) is required to supply the necessary financial information. If the other parent furnishes child support, it will be reported on the FAFSA also.

What does it mean if I am selected for a process called Verification?

SLCC’s Financial Aid Office is required to obtain certain documents from students selected for verification. These consist of a completed Verification Worksheet and possibly other documents. You will be notified if these documents must be provided.

Can I obtain a job on campus?

Funding for jobs on campus is limited; jobs are assigned primarily to returning students who have demonstrated competence and dependability the previous year. Freshmen generally will not be assigned paid jobs on campus.

If my Scholarship, Pell Grant, and Stafford loan are not sufficient, what else is available?

If you are a dependent student, you may want to consider a Parent PLUS Loan (parents of undergraduate students only). The parent must apply and be approved; if the parent is not approved due to a faulty credit rating, the student may be able to receive an additional $4,000 a year in unsubsidized Stafford Loan. Proof of denial must be received by the Financial Aid Office. If your parent does not wish to apply for a PLUS loan, you might want consider an Alternative (private) educational loan. More information about PLUS and alternative loans are on the SLCC Loan Request Form. An alternative loan should be a loan of last resort, since terms and conditions are not as favorable as for the Federal Stafford and PLUS loans.

What determines transfer student grade level for Stafford Loan purposes?

Once your admissions file is complete, the Registrar will evaluate your previous transcripts depending on what your intended degree program will be and determine how many of your credits are accepted for transfer to that program. The number of credits accepted will determine your grade level for loan purposes.

After applying for financial aid, what do I do next?

Once the school has the results of your FAFSA and you have been accepted for admission, you will receive a Financial Aid Award Letter in the mail. This letter will indicate the aid that has been awarded. Review the award letter for accuracy and to make sure your financial aid is sufficient to cover your costs. Read all of the accompanying material to make sure you understand the terms and conditions of your financial aid. Return a copy of the award letter with your signature to the Financial Aid office indicating that you accept or decline the awards offered.