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Types of Financial AidFederal Pell Grant Program
The Pell Grant is the Federal Government's largest aid program and is awarded to students who have not earned a bachelor's degree, demonstrate financial need, and meet the federal eligibility requirements. Pell Grant awards range from $400 to $4050 for the 2005-2006 year. Pell Grants do not have to be repaid as long as the student attends his or her classes for the enrollment period. Students may apply for this grant by completing the Free Application for Federal Student Aid. A Federal Student Aid Report will be received by the student within approximately four to six weeks of the mailing date. These should be brought by the Financial Aid Office to assure that their award will be processed. If student is attending less than 12 credit hours, Pell award will be reduced according to the number of hours attending.
Supplemental Educational Opportunity Grant (SEOG)
The Federal Supplemental Educational Opportunity Grant (SEOG) program awards grants to students who demonstrate the most need. Awards range from $600 to $1200 per year at Craven Community College. You must be enrolled for at least 6 credit hours to be eligible. Priority is given to Pell Grant recipients. This grant does not have to be repaid. Preference is given to students who have a completed aid application on file by March 31.
North Carolina Student Incentive Grant (NCSIG)
The North Carolina Student Incentive Grant (NCSIG) is awarded to legal residents of North Carolina who are enrolled as full-time undergraduates in postsecondary colleges in North Carolina and who can demonstrate substantial financial need. Students may apply for this grant by completing the Free Application for Federal Student Aid. Applicants must apply by March 15 to have reasonable assurance of consideration before NCSIG funds run out. The grants range from $200 to $1500 per year.
North Carolina Community College Grant
The North Carolina Community College Grant is a need-based grant established to help meet the educational costs of NC residents attending community colleges. The student must be a NC resident, be enrolled at least half-time (6 credit hours), be enrolled in an eligible curriculum program, must be meeting the Satisfactory Academic Progress requirements and must be meeting the Federal Pell eligibility requirements (except for the EFC requirement) established by the federal government. This award will be adjusted according to the number of credit hours attended. This grant does not have to be repaid. To qualify, a student must complete the Free Application for Federal Student Aid by the published deadline and list a NC Community College as one of the top three choices of institutions. Annual awards will be made based on students established need and enrollment status.
Federal Work Study Program
The Federal Work Study Program provides jobs for students who demonstrate financial need. Students may generally work up to 20 hours per week, depending on the amount of work study funds awarded for the academic year. Students are paid minimum wage per hour and receive wages on the last day of the month. Work Study jobs are available in many academic and administrative departments on campus. Applicants are interviewed prior to job placement where job requirements and individual responsibility for job performance are stressed. Monthly time sheets are submitted with supervisor's signature.
Family Education Loan Program
The Family Education Loan Program includes the Federal Stafford Loan (subsidized and unsubsidized) and Federal PLUS Loans to parents. A subsidized loan means that the borrower is eligible for federal interest benefits and the interest on the loan is paid by the Federal Government while the borrower is enrolled and attending college at least half time. An unsubsidized loan means that the borrower is not eligible for this benefit. Applicants must remember loans have to be repaid and should borrow as little as possible. Students must complete an FAFSA, student loan application and participate in entrance and exit counseling. Loan repayment generally begins six months after the student ceases to be enrolled at least half time. As a borrower, you are obligated to repay the loan in accordance with the lenders' guidelines. You must repay the loan even if you do not complete your program of study.
General Information
1. Annual limits for (Subsidized Loan)
First year students (0-29 hours earned) $2,625.00
Second year students (30 or more hours earned) $3,500.00
Your maximum eligibility for a subsidized Stafford loan may be less based on your Effective Family Contribution (EFC) figure, other financial aid and scholarships received. Your maximum subsidized Stafford loan will be determined when you complete the loan application.
Independent students may be able to apply for an unsubsidized Stafford Loan. The combined total of subsidized and unsubsidized annual debt cannot exceed $6,625.00 for freshmen and $7,500.00 for sophomores, with at least $4,000.00 represented by the unsubsidized loan. Contact the Financial Aid Office for more information.
2. The total amount of Stafford Loan debt (both subsidized and unsubsidized) you can accumulate as an undergraduate student is:
Dependent students $23,000.00
Independent Students $46,000.00
3. Interest rates are variable. The variable interest rate is capped at 8.25%. Remember, the interest on a subsidized Stafford loan is paid by the government until the student enters repayment.
4. The lender may charge the borrower an origination fee of up to 5% on the loan principal. The fee will be deducted proportionately from each disbursement. In addition, an insurance fee of up to 3% of the loan principal may be deducted from each disbursement.
5. Stafford loan application forms are available in the Financial Aid Office. The student
borrower should first complete the Stafford loan entrance counseling at http://mapping-your-future.org and forward to the Assistant Financial Aid Director certification that the entrance counseling has been completed. Then come by the Financial Aid Office to complete the loan application. When completing the reference section (item #10), be sure to list people at two different addresses and telephone numbers. Once the loan application is certified, the student borrower will receive notification from College Foundation, Inc. (CFI) of their loan approval within thirty days from submission. CFI will check the student borrowers credit history before approving the loan. Craven Community College will not certify another loan if the student is denied by CFI.
6. Loan disbursement checks will be mailed to the school. You may pick up your check according to the listed disbursement dates in the front of the financial aid handbook. You must present a valid picture identification at the cashier's window to pick up the check. The cashier's window hours are 8:30 a.m. to 4:30 p.m. If a student is taking distance education courses and does not live close to the college, the loan check can be mailed certified, signature requested, at the student's expense.
7. The Stafford loan is made in "multiple disbursements." Normally, the student borrower will receive two equal disbursements, one during each regular enrollment period (Fall and Spring). Different circumstances may alter the disbursement dates, so check with the Financial Aid Office if you have any questions. Before the student borrower can receive the second loan disbursement, he or she must complete the Stafford Loan exit counseling at http://mapping-your-future.org and forward certification of completion to the Assistant Director of Financial Aid.
8. First time, first year borrowers, those students attending Craven Community College for the first time who have not previously received a Stafford or SLS loan, may not receive their first loan disbursement until they have been enrolled at Craven Community College for at least thirty days.
9. Student borrowers must be maintaining satisfactory academic progress, as defined by Craven Community College, to receive a loan check.
10. It is the student borrower's responsibility to notify the lender and the school of any change in his/her address.
11. If the student borrower transfers to another school, it is his/her responsibility to contact CFI to receive a deferment form to avoid going into repayment.
12. Student borrowers have a six month grace period from the day the student graduates, drops below half time or withdraws completely from school before repayment begins. If the student returns to school before six months have elapsed, he/she will once again have a six-month grace period when enrollment is terminated.
13. If the student borrower withdraws completely prior to the 60 percent point of the semester, he or she will owe a portion of the loan money received to the college once notification is received. Repayment will begin according to lender guidelines.
14. Student borrowers are required to complete exit counseling at http://mapping-your-future.org before leaving Craven Community College.
Jim Wrenn Emergency Loan Fund
Craven Community College has been given funds over the years to use as educational loans for students in emergency situations. A student must be, or have the intent to be, enrolled at least half-time in a degree, certificate, or diploma program. A student cannot be admitted as special
or provisional. Borrowers must have a cumulative quality point average of no less than a 2.0 or have a cumulative 2.0 average from high school or other colleges attended. The borrower must sign a promissory note and make satisfactory arrangements with the Financial Aid Office for repayment. This is a short-term loan (90 days or less) and must be repaid before the student can register for a subsequent term.
Child Care Program
The North Carolina General Assembly appropriates funds for child care services for student parents in community colleges. This is approved for a year at the time only. Single parents receive first priority. Applicants must have demonstrated financial need, be enrolled at least half time in a college transfer, technical or vocational degree or diploma program at Craven Community College and be willing to complete a Free Application for Federal Student Aid. Applicants must not be receiving child care funds from the Department of Social Services. Child care must be provided by a legal child care provider. Interested students must complete a Child Care Program application and submit a copy of their notification from the Department of Social Services, documenting their application status. Students must also maintain satisfactory progress according to Craven Community College.
Scholarships
Craven Community College offers a variety of scholarships. Most are based on financial need and academic achievement. Scholarship applications should be completed in early spring for the next academic year. Criteria and award amounts are determined by the sponsors and are subject to change. Contact the Financial Aid Office for additional information and requirements. Most scholarships should be used first to charge tuition, fees and books. If the student is to receive any unused portion, the disbursement will be mailed at the 50 percent of the semester.
A student may apply for all of the scholarships listed below by completing a General Scholarship application. Students who have not submitted a Student Aid Report, determining eligibility for Federal Student Aid, must also complete a financial statement to be considered for any need-based scholarships.
Elliott A. And Clara F. Bennett Scholarship provides funds to deserving students who do not have the financial resources to continue their education.
Thurman E. Brock Scholarship provides opportunity for students in technical or vocational areas.
Janet MacDonald Coats Scholarship provides funding to students in the nursing curriculum.
CCC Alumni Scholarship provides funding to a Craven Community College graduate of the GED or AHSD program.
Craven, Pamlico, Jones, Medical Auxiliary Scholarship provides funding to second year Associate Degree Nursing (ADN) students.
Selma B. Crofton Scholarship provides funding for a second year student enrolled in a curriculum leading to a degree in the education field.
Olin E. and T. Earl Finch Scholarship provides opportunity for students in the electronics or electrical fields.
First Flight Scholarship provides funding to members or dependents of members.
Robert L. Hanson Scholarship provides funding to students in a general business or business related curriculum.
Mike D. and Linda P. Jones Scholarship provides funding to students who do not have the financial resources to continue their education.
Constance Newton Lupton Scholarship provides funding for single mothers.
New Bern/Craven County Retired School Personnel Scholarship provides funding to second year students planning to transfer into a four-year education curriculum.
North Carolina Nurse Education Scholarship Loan Program provides funding to ensure enrollment and retention of qualified nurse education candidates. Recipients must agree to work for one year as a full-time nurse in NC for each year of funding.
Florence S. Powell Scholarship provides funding to students in the nursing curriculums. Recipients must be second year ADN students or accepted into the LPN program.
Sprint Carolina Telephone Scholarship provides funds primarily to those persons who are the hardest hit by recession and chronic unemployment. Priority is given to minorities and displaced workers.
Wachovia Technical Scholarships provide funding to second year technical degree students.
Other local, state and national organizations provide scholarships to students attending Craven Community College. Applications and additional requirements for the following scholarship programs may be obtained from the Financial Aid Office. Criteria and award amounts are determined by the organization and are subject to change.
Alpha Delta Kappa, Beta Gamma Chapter Scholarship is awarded annually to a student who is in the area of education, shows academic achievement, participation in extra curricular activities, and financial need.
Cherry Point Officers Wives Club Scholarship provides funding to dependents of active duty military personnel assigned to MCAS Cherry Point or dependents of active duty, deceased or retired military personnel living in Craven, Carteret or Pamlico counties.
Craven Community College Foundation Scholarships provide funding to graduating seniors from Havelock, West Craven, and New Bern Senior High Schools.
Craven Community College Endowment 2000 provides funding to students enrolled at least half time and maintaining a 2.0 GPA. Applications are available in the Financial Aid Office.
Craven County Endowment Scholarship provides funding to Craven County residents attending the college who maintain a 2.0 GPA and are enrolled full time. Craven Community College graduates may be eligible to receive a one-time scholarship to a transferring college.
Hazel B. Neal Scholarship provides funding to a deserving underprivileged individual.
North Carolina Nurse Scholars Program provides funding to enable outstanding students to become registered nurses.
Prospective Teacher Scholarship Loan Program provides funding for study leading to teacher licensure. Recipients must agree to teach one year in a North Carolina public school for each year of assistance received.
State Employees Association of North Carolina (SEANC) Scholarship provides funding to members or dependents of members.
Other Scholarships from Organizations and Friends of the College
Adelaide Gurganus Jackson Foundation
Air Force Aid Society
Alice and Wiley Mayo Memorial
Alpha Kappa Alpha Sorority
Albert H. Bangert Memorial Student Scholarship/Loan Fund
Business Technology Association
Carolina Pines Mens Golf Association
Ralph Castano Scholarship
Chic-Fil-A
Civitan Club of New Bern
Craven County Insurance Agents
Association
Delta Sigma Theta
Federally Employed Women
J. T. Barber Alumni
Jackson-Kafer Scholarship
Kiwanis Club
Marine Corps Scholarship Fund
John and Helen Morton Scholarship Fund of Centenary United Methodist Church
NARFE
National Society of Public Accountants
New Bern Womans Club, Continuing Education Division
New Bern Womans Club, Youth Division
New Bern Womens Club International Affairs
North Carolina Petroleum Marketers Association
North Carolina Society of Accountants
Rotary Club of New Bern
"Jim" Stocks Foundation
T.E.A.C.H. Early Childhood Project
Tryon Civitan Club
Retired Officers Association of Coastal Carolina
Craven Regional Medical Center Nursing Scholarship Loan Program
Marine Corps Aviation Association
National Society of Public Accountants
American Association of University Women
Association of Perioperative Registered Nurses
Xi Delta Tau Chapter of Beta Sigma Phi International Scholarship
Beta Sigma Phi Scholarship
P.E.O. Program for Continuing Education
Determining Aid Awards
Aid from most of the major federal programs is awarded based on financial need. Financial need is defined as the difference between what it costs to attend school and the amount of money a student and his or her family/spouse is expected to pay. The financial aid application form completed by the student determines the expected family contribution amount.
When the cost of attendance exceeds the family contribution, then need exists for financial aid. Priority is given to students with the greatest financial need and who complete the application process by the deadline. Additional awards will be made to late applicants as long as funds are available. A financial aid award "package" may consist of several types of aid, such as Pell Grant, loans, college workstudy, and scholarships.
Receiving Your Aid
Students who have completed the aid process and are eligible for financial assistance will be required to sign their award letter. The award letter will indicate the types and amounts of aid for which the student is eligible. All Pell Grant students must get an Attendance Verification form to have signed by all of their instructors within the first week of classes. Pell award will be adjusted according to the number of credit hours attending; i.e. three-fourths time (9-11 hours), half-time (6-8 hours) and less than half-time (1-5 hours). Pell disbursement dates are listed on page 2 of the student financial aid handbook. If verification forms are received after the due dates listed, checks will be mailed in three weeks to the student. For B term classes, turn the attendance verification form in once B term classes have started.
*Distance Education students may in lieu of having the attendance verification form signed, submit an electronic request to their instructor(s) and ask that attendance be verified. Students should only submit this request AFTER having logged into the class and completing the Orientation assignment (or attending the face to face Orientation). The electronic form is available online at http://www.cravencc.edu/student/fav/index.cfm The Academic Skills Center offers personalized assistance for students needing help with this form.
NOTE: Make sure address is correct in Student Services.
Students receiving the Pell Grant may charge their tuition, fees, and books against their grant during pre-registration and registration. Students should go to the business office once they have registered classes with their advisor. Students must let the business office know to charge their tuition, fees, or books against the PELL.
NCSIG, SEOG, NCCG and loan checks are released on the designated dates printed in the front of this handbook. These grants cannot be used to charge tuition, fees, and books.
Work Study payment is made on the last day of each month.
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