AACC believes no qualified student should be restricted from attempting college because of limited financial resources. Grants, scholarships, loans and work study programs are available to eligible students who are enrolled in eligible degree or certificate programs. Payment plans are also available to all students.
The Financial Aid Office uses the results of the Free Application for Federal Student Aid (FAFSA) to determine eligibility for all need-based funds. Cost of Attendance (COA) budgets are determined when student FAFSA data is imported. Student COA budget, including living expenses (housing), is assigned based on responses to the housing plans question on the FAFSA:
Federal Pell Grants, Federal SEOG (FSEOG) and State awards are given priority over FWS entitlement or Direct Loan eligibility. The Unsubsidized Direct Loan will only be awarded up to unmet need. Federal Work Study (FWS) is awarded if the student expressed interest on the FAFSA. We awarded in this order:
Gift aid is awarded to students with financial need according to the restrictions of the award and availability of funds.
The Financial Aid Office mails the first round of award notifications for the upcoming school year in March of each year, starting with students who have never attended college and returning students who are were not enrolled for the prior year and have no borrowing history. The second round of awarding for returning students happens after SAP is run for the spring term. Award notifications continue to be sent out to students year round.
The notification process has students receiving an e-mail to view their awards on MyAACC. They will also receive a paper notification in the mail. Both the email and letter include instructions on their next steps. If they wish to apply for a Direct Loan or FWS, they student can link up to the appropriate forms in MyAACC under the “Self-Services” tab. A link to our award guide and the appropriate consumer information and disclosures are also available to the student when they view their awards on MyAACC.
Financial Aid Awards are valid for that award year. Students only get paid if they are registered and have attended at least one day for each class, providing the teacher has marked them as attended. If they are not registered for a semester, their aid will not be disbursed. Students who want a Direct Loan must complete and submit their paperwork to the FAO for processing. They must also be enrolled for at least 6 credit hours for the semester they are requesting the loan funds for.
Awards are made after verification and all eligibility requirements are met. Award amounts are based on each student's Expected Family Contribution (EFC). Payment amounts also vary based on each student's level of enrollment (1/4 time, 1/2 time, 3/4 time, and full-time).
Priority is given to students who:
Additionally, students with a baccalaureate degree are not eligible for an FSEOG award. Awards are made on a first come, first served basis. When the FSEOG is spent during the first phases of awarding, we remove FSEOG from packaging. We then try to find candidates as money frees up through the disbursement process.
Award amounts are as follows:
Full time (12+ credits): $600 per term.
Three Quarter time (9-11 credits): $450 per term.
Half time (6-8 credits): $300 per term.
Less than ½ time (1-5 credits): $150 per term.
Students are notified of an FSEOG award on the award letter. Funds are released to the student’s account at the conclusion of the drop/add period for the term based on their enrollment status
AACC awards FWS to students who demonstrate financial need. The overall awarding process is outlined above and explains how this program is awarded based on student interest. The maximum FWS is approximately $6000.00 for the year. Students are paid an hourly rate as determined by their employer.
AACC packages an estimated Direct Loan on the award letter, per federal regulations and loan limits. Students must complete an AACC Direct Loan Request Form to request a specific amount of loan money. First-time borrowers must complete on-line entrance counseling. All borrowers must complete a Master Promissory Note as required by Federal law.