Types of Financial Aid
Federal 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 $602 to $5730 for the 2014-2015 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.
If student is attending less than 12 credit hours, Pell award will be reduced according to the number of hours attending.
What is a Pell grant?
Federal Supplemental Educational Opportunity Grant (FSEOG)
The Federal Supplemental Educational Opportunity Grant (FSEOG) program awards grants to students who demonstrate the most need. 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.
What is a FSEOG?
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 student’s established need and enrollment status.
North Carolina Education Lottery Scholarship
The North Carolina Education Lottery Scholarship program was created by the 2005 General Assembly to provide financial assistance to needy North Carolina students attending eligible colleges and universities located within the state of North Carolina. An applicant must 1) be a North Carolina resident for tuition purposes; 2) meet all eligibility requirements for a Federal Pell grant, except the Expected Family Contribution (EFC) requirement; and 3) enroll for at least six credit hours per semester as an undergraduate student in a degree, certificate or diploma program at an eligible North Carolina post-secondary institution. Award amounts vary according to information that is generated from the Free Application for Federal Student Aid (FAFSA); award amounts will be prorated for recipients enrolled less than full-time.
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 through WebAttendance with supervisor’s approval.
What is a Federal Work Study job?
Federal Direct Loan Program
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
Child Care has been awarded for the Spring 2014 semester. We will begin taking applications for Fall 2014 on July 1st.
If you have any questions or concerns, please contact Carolyn Ward, Financial Aid Counselor at 252-638-7211 or firstname.lastname@example.org.
Receiving Your Aid
Students who have completed the aid process and are eligible for financial assistance will be able to view their Award Letter on Web Advisor. The award letter will indicate the types and amounts of aid for which the student is eligible. 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). Craven Community College will begin disbursements of student on or after 5/3/2013. Make sure your preferred method of disbursement has been selected by activating your My Craven Card! You can find more information on the refund process on Higher One's website.
Grant refunds will be made through Higher One according to the dates listed on the financial website under Important Dates at http://www.cravencc.edu/financialaid/important-dates.cfm.
NOTE: Make sure your address is correct in Student Services.
Students receiving the Pell Grant, the North Carolina Community College Grant (NCCCG) and the North Carolina Education Lottery Scholarship (NCELS) may charge their tuition, fees, and books against their grants during pre-registration and registration.
NOTE: Students will be responsible for any amount owed that aid does not cover. This must be paid by the end of preregistration/registration.
You have to be attending a class in order to receive financial aid for that class (including loans). If a student has some classes that begin at the beginning of a term and some classes that begin at a later date (Late-start and B-Term classes), this can affect a student’s Pell grant refund at the first published disbursement date and can prevent a student from getting a loan disbursement at the first published disbursement date for that term.
For example, if a student is enrolled for 5 credit hours in a class that begins the first day of the semester and 2 credit hours for a B-Term class, the student’s Pell Grant will be adjusted to an amount the student is eligible for 5 credit hours for the first published disbursement date of the term. Once B-term begins, the student will be 7 credit hours and the student’s Pell Grant will be adjusted again to include this class. If a student wanted to receive a loan, the student would not be eligible for the loan disbursement until after B-term begins.
To receive a loan, a student has to be attending at least 6 credit hours.