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Wallace Community College Selma > Federal Financial Aid

 
 

Federal Financial Aid

 
 

Type: Federal Pell Grant

The Federal Pell Grant Program provides direct grants from the U. S. Department of Education to the undergraduate student for educational expenses. Since it is a grant program, the student does not have to repay the amounts received. No eligible student will be denied a Federal Pell Grant.

Effective July 1, 2012, the MAXIMUM period for which students may receive Pell Grant is 12 semesters. This calculation of the maximum number of semesters will include ALL years of the student's receipt of Federal Pell Grant funding.

The award year at this institution begins the Fall Semester in each year and ends the Summer Term of the following year.

Priority Deadlines:

  • July 1st for Fall Semester
  • December 1st for Spring Semester

Annual Maximum Amount:

  • Up to $5, 550

Funds disbursement for students:

  • Degree program: 50% Fall & Spring Semester
  • Certificate program: 38% Fall & Spring Semester and 24% Summer Term

Funds disbursement based on Credit Hours:

  • 12+ hours for 100%
  • 9-11 hours for 75%
  • 6-8 hours for 50%
  • Less than 6 hours 25%

To apply:

  • The student and if applicable parents and spouse must complete the Free Application for Federal Student Aid (FASFA).
  • Once the student has a valid Student Aid Report (SAR) or an Institutional Student Information Report (ISIR), the Financial Aid Office uses the Department of Education guidelines to determine the amount of the award based on the Expected Family Contribution (EFC) number on the SAR and the amount assigned to that number on the Pell Grant disbursement schedule for the current year.

Renewal Criteria:

  • Complete the FAFSA each year and make Satisfactory Academic Progress

Standard of Progress:

  • Students who have attempted 12-21 credit hours at the institution must maintain a 1.5 Cumulative Grade Point Average (GPA).
  • Students who have attempted 22-32 credit hours at the institution must maintain a 1.75 Cumulative Grade Point Average (GPA).
  • Students who have attempted 33 or more credit hours at the institution must maintain a 2.0 Cumulative Grade Point Average (GPA).

It should be noted that:

  • This institution does not determine eligibility requirements and amount for the Pell Grant.
  • Awards are made at the time a student has a complete financial aid file.
  • This institution verifies each SAR or ISIR that has been selected for verification.
  • All credit balances in the student Pell Grant accounts are disbursed after the 14 day from the 1st day of class each semester.



Type: FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (FSEOG)

An FSEOG is for undergraduates with exceptional financial needs:

  • Students with the lowest Expected Family Contribution (EFC) number and receives Federal Pell Grant

Annual Maximum Amount:

  • Up to $600

Funds disbursement based on Credit Hours:

  • Minimum 6 hours

It should be noted that:

  • An FSEOG doesn't have to be paid back
  • Students can receive between $100 and $4,000 a year
  • There is no guarantee every eligible student will receive an FSEOG



Type: Federal Work-Study Program

The Federal Work-Study Program provides funds to employ students part-time at the institution. The Financial Aid Office determines who is eligible for work-study using the Federal EFC from a valid SAR or ISIR and institutional cost of attendance.

Priority Deadline:

  • March 1

Annual Maximum Amount:

  • The amount earned on a Federal Work-Study job varies with the number of hours worked.
  • A student may work a maximum of 15 hours per week while classes are in session.
  • Student is paid at minimum wage.

Funds disbursement based on Credit Hours:

  • Minimum 6 hours

Renewal Criteria:

  • Complete the FAFSA each year

Students may inquire about these jobs at the Financial Aid Office at the College.