FAQ
The links below will take you to the appropriate section within this page.
- What is Financial Aid?
- How do I apply for Financial Aid?
- How often do I have to apply for Financial Aid?
- How do I know if I am eligible?
- How is Financial Need determined?
- What types of financial aid are available?
- What if my circumstances have changed?
- What is the difference between dependent and independent for purposes of Federal Financial Aid?
- I believe that I should be considered Independent for the purposes of Federal Financial Aid, can I Petition for a Dependency Override?
1. What is Financial Aid?
Financial Aid can help you pay for the costs of attending NECC including tuition and fees, books,and other costs (room and board, transportation, and personal costs). Most NECC students receive some sort of financial aid, so we encourage you to apply today!
The types of Financial Aid include grants and scholarships, loans,and work study. Some aid does not need to be paid back, some aid must be repaid, and some aid takes the form of employment.
2. How do I apply for Financial Aid?
Go to Apply for Financial Aid for step-by-step instructions. We strongly urge students to file electronically, which expedites the process.
3. How often do I have to apply for Financial Aid?
You must apply for Financial Aid each Academic Year. The best way to remember when to apply is to always apply for Financial Aid right after you complete your Federal Tax Return. The data necessary to complete your application for Financial Aid is on your and your parent’s Federal Tax Return. The priority deadline for Financial Aid is May 1st. Student’s may, however, apply for aid throughout the year. Be sure to complete your Financial Aid Application.
4. How do I know if I am eligible?
Most aid is awarded based on financial need as demonstrated by the analysis of the Free Application for Federal Student Aid (FAFSA). This standard procedure insures equity in the treatment of all applicants, and gives information on the amount of assistance the family is expected to contribute towards the aforementioned costs. The amount and type of aid received is contingent upon the student’s financial need relative to that of the total population, the availability of funds, and the various program regulations. Students must be enrolled in a degree or certificate program.
In order to be considered for most federal, state and institutional financial aid, a student must:
- Demonstrate financial need.
- Be accepted to and enrolled in a degree or certificate program at NECC.
- Have a valid Social Security number.
- Be a citizen, national or permanent resident of the United Statesor its trust territories.
- Maintain at least half-time enrollment status unless otherwise noted by program guidelines.
- Maintain satisfactory academic progress.
- Maintain compliance with Selective Service registrationrequirements.
- Not owe a refund on Title IV money, or be in default on any previous student loan.
- Have a high school diploma or a General Education Development (GED) certificate or must pass an independently administered test and have the Ability to Benefit (see Admissions).
5. How is Financial Need determined?
The amount of financial aid you receive is based on your demonstrated financial need. The FAFSA determines your Expected Family Contribution (EFC), an amount you and your family are expected to contribute toward your education. (Although this amount may not exactly match the amount you and your family end up contributing.)
Your financial need is based on two factors:
Cost of attendance (COA) – This is a budget amount that shows what it will cost a typical student to go to school. The COA includes direct costs such as tuition and fees, plus allowances for housing,food, transportation, books and supplies. Again, this amount does not represent what you owe the college; it is simply a budgetary number.
Expected Family Contribution (EFC) -This number is determined by the federal government based on your FAFSA and represents the amount you and your family are expected to contribute towardyour education.
The Expected Family Contribution is subtracted from the Cost of Attendance to get your Financial Need. If there is anything left over, you’re considered to have financial need.
In other words, Cost of Attendance minus Expected Family Contribution equals Financial Need.
Grants, subsidized federal loans, and work-study are based on financial need.
6. What types of financial aid are available?
In general, there are three major types of financial aid: grants and scholarships,which do not have to be repaid, loans, which do need to be repaid, and employment opportunities, such as work-study jobs. Go to types of financial aid for complete information.
7. What if my circumstances have changed?
Since financial need is determined based on the family’s gross annual income for the previous year, your circumstances may have changed. If you, your spouse, or your parent(s) income has recently decreased or you have special financial circumstances that were not reflected on your FAFSA, we may be able to recalculate your financial need based on your family’s projected gross income for the current tax year. Students who find themselves in this situation should complete the Request for Review of Special Circumstances form and submit all the required documentation.
8. What is the difference between dependent and independent for purposes of Federal Financial Aid?
Answering yes to ANY of the questions below means you are Independent and therefore you are not required to report your parent’s financial information. If you answer no to ALL of the questions below you are dependent and you must provide parental information even if you do not reside with them at this time.
- Were you born before January 1, 1984?
- At the beginning of the 2007-2008 school year, will you be working on a master’s or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, or graduate certificate, etc.)?
- As of today, are you married? (“As of today” refers to the day that you sign your FAFSA.)
- Do you have children who receive more than half of their support from you?
- Do you have dependents other than your children/spouse who live with you and who receive more than half of their support from you, now and through June 30 2008?
- Are (a)both of your parents deceased, or (b) are you (or were you until age 18) a ward/dependent of the court?
- Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training?
- Are you a veteran of the U.S. Armed Forces?
9. I believe that I should be considered Independent for the purposes of Federal Financial Aid, can I Petition for a Dependency Override?
Financial Aid regulations assume that the family has primary responsibility for meeting the student’s cost of education. If you are classified as a dependent student for the purposes of determining student aid eligibility because you do not meet the criteria for independent student status, you may, due to unusual circumstances, petition for a Dependency Override. Please complete the Petition for Dependency Override form. Examples of unusual circumstances would include but are not limited to: abuse, neglect, and abandonment.
