Federal Pell Grants
- The Educational Amendments of 1972 established the Basic Educational
Opportunity Grant program, now referred to as the Federal Pell Grant, a
program of financial assistance for undergraduate students in postsecondary
education. The program introduced for the first time the concept that
eligible students in need of financial assistance will be assured of
receiving federal funds to help pay for education beyond high school.
The law requires that
financial need for Pell Grants be assessed by a formula, which is reviewed
by Congress each year and is applied uniformly to all applicants. This
formula considers such indicators of family financial strength as income,
assets, family size, and family educational expenses. Students with
bachelor's degrees are not eligible.
An undergraduate student who
requests financial aid from BCCC must have his or her Federal Pell Grant
entitlement determined before he or she may receive an award. A student
must reapply each year for a Federal Pell Grant, and the amount of his or
her grant may vary from year to year. To apply for a Federal Pell Grant,
FAFSA.You will need to
include the financial aid code for Beaufort County Community College
(008558) on the FAFSA in order for our college to receive the information
electronically. The results from the FAFSA will help the financial aid
administrator determine your eligibility for the Pell Grant.
Educational Opportunity Grant (SEOG)
Educational Opportunity Grant Program is designed specifically for students
with exceptional financial need. Priority is given to Pell Grant recipients.
Selection is based on enrollment status, financial need and application date. The program is
federally funded, and the College is responsible for selecting eligible
Student Employment - Part-time jobs on campus are available for students who wish to earn money for part of their college expenses. These include jobs in the library, laboratories, offices, etc. The federal government through its college work-study program provides funds for these student jobs. The student will earn $7.50 an hour and is expected to work between 8 to 12 hours per week.
A student may be selected for employment under the college work-study program only if he/she meets ALL of the requirements listed below. He/she must be:
1. A citizen of the United States
2. Enrolled at the college for at least 6 credit hours
3. In need of financial assistance from such employment in order to pursue a course of study at the college. Need is defined as a cost of attending the college less the resources available to the student and is computed by using the national needs analysis system.
4. Maintaining Satisfactory Academic Progress currently and while employed under the program. Students should carefully review the BCCC financial aid standards of progress.
A student should consider
carefully whether his or her academic responsibilities permit him or her to
assume the obligations of part-time work. If the student accepts campus
employment, he or she is expected to fulfill the requirements of the job,
but the student must maintain a primary concern for his or her academic
Direct Subsidized and Unsubsidized Loans for Students
Direct Loans are low-interest loans made to students through the William D. Ford Federal Direct Loan Program. Repayment terms are up to 10 years.
A Direct Subsidized Loan is available to students who have financial need. A Direct Unsubsidized Loan is an option for students who do not demonstrate financial need. Need is determined by completion of the Free Application for Federal Student Aid (FAFSA).
Direct Subsidized Loans
For the student with financial need, the federal government pays the interest on the subsidized loan while the borrower is enrolled in college at least half time and for six months after enrollment stops. At the end of the six-month grace period, the borrower becomes responsible for the loan interest and repayment.
The Direct Loan amount students may borrow depends on their grade level in school, program length, amount of other financial aid received, dependency status and – in the case of the Direct Subsidized Loan—the amount of their financial need.
Direct Unsubsidized Loans
Student borrowers with no financial need are eligible for Direct Unsubsidized Loans. Interest on these loans is not paid by the federal government and is the responsibility of the student at all times.
INTEREST RATES FOR DIRECT LOANS
||First Disbursed Between July 1, 2011 and June 30, 2013
||First Disbursed Between July 1, 2013 and June 30, 2014
How Much Can I Borrow?
The amount you are able to borrow is based on your dependency status and your grade level. First year students are students who have completed 32 or less credit hours. Second year students are students who have completed 33 or more credit hours. You can never go over your cost of attendance.
If eligible, you may be able to borrow:
•First year of undergraduate school: $3,500 subsidized funds
•Second year of undergraduate school: $4,500 subsidized funds
•Any funds requested over the subsidized loan maximum for your grade level and dependency status will be unsubsidized funds.
Aggregate liftetime maximums for Federal Direct Loans are listed below:
•$31,000, dependent undergraduate students (maximum $23,000 subsidized)
•$57,500, independent undergraduate students (maximum $23,000 subsidized)
Don't borrow more than you need. Remember, this is a loan and must be repaid. Final determination on the amount you are eligible to borrow is determined by the Financial Aid Office.