Federal Financial Aid Programs
All federally funded aid requires the completion of the Free Application for Federal Student Aid (FAFSA). Expected Family Contribution (EFC) is determined from the FAFSA. Cost of attendance is calculated by totaling estimated fees, tuition, books and supplies, and living expenses based on whether a student lives on campus, with parents, or off campus.
- Federal Pell Grant: A need-based program, 100 percent federally funded. No repayment is required. Federal Pell Grants are awarded based on Expected Family Contribution (EFC) computed by the Federal Processing Center and hours enrolled. Awards ranged from $555 to $5,550 per year for the 2011-2012 school year.
- Pell Grant for Service Members' Survivors: Students who have lost a parent or guardian as a result of military service in Iraq or Afghanistan after Sept. 11, 2001 may be eligible for maximum Pell Grant. Students should talk with the EMCC Financial Aid Office for more information.
- Federal Supplemental Education Opportunity Grant (SEOG): A need-based program, 75 percent federally funded and 25 percent institutionally funded. No repayment is required. EMCC funding is limited in this program and awards are made to students with the greatest financial need. Students with maximum Pell eligibility have priority as long as funding lasts. Grant amounts range from $200 to $400 per year.
- Federal Work-Study: A need-based program, 75 percent federally funded and 25 percent institutionally funded. Students are generally prioritized on a “first-come, first-served” basis. Students with an unmet need are generally awarded Federal Work-Study. Award amounts average approximately $750 -$1,500 per semester. Approximately 200 students are employed each year. Current minimum wage is paid.
- Federal Direct Loan Program: Students must complete the Free Application for Federal Student Aid online, and indicate on the FAFSA their interest in student loans.
Students must show a need to qualify for Direct Subsidized Loans. (The government pays the interest while you are in school). A freshman student can borrow up to $3,500 per year through the Direct Subsidized Loan program. A sophomore student can borrow up to $4,500 per year.
Direct Unsubsidized Loans (interest starts accruing from the time you take out the loan) are also available. These loans are not based on need and are available to eligible students. Interest begins to accrue on these loans when issued. Amounts vary depending on the student's status (freshman or sophomore, dependent or independent) and other aid awarded.
- Parent Plus Direct Loan Program: Parents may apply for the Parent Plus Direct Loan online at http://www.studentloans.gov. EMCC Financial Aid will certify eligibility for the loans. Parents can borrow up to the cost of attendance minus other financial aid and resources. Plus loans must be repaid.