Frequently Asked Questions
- What is Student Financial Aid?
- Who Provides Financial Aid?
- How do I apply for for Financial Aid?
- What Happens Next?
- Special Tips
What is Student Financial Aid?
Financial Aid comes in three forms:
Grants and Scholarships are financial aid you don't have to pay back.
Work-Study lets you work and earn money to help pay for school.
Loans are borrowed money that must repay with interest
Who Provides Financial Aid?
Financial Aid comes from three sources:
Federal
State
Local
How do I apply for for Financial Aid?
Get the RIGHT applications. Contact your high school counselor or the Financial Aid Office at NRCC or any college to which you have applied. Some colleges also have their own financial aid applications. Make sure you complete all required applications. Applications are usually available by December of the year prior to filing.
Your Checklist for Success:
Complete and submit the Free Application for Federal Student Aid after January 1. You can get a FAFSA from a high school guidance office or NRCC. The FAFSA can be filed electronically at http://www.fafsa.ed.gov . If you completed a FAFSA by November of the previous year, you should receive a renewal FAFSA.
Complete and submit NRCC Student Financial Aid Application (Microsoft Document) to the NRCC Office of Financial Aid.
Submit an application for admission (NRCC Application) and be accepted by the college. (Note: This is a separate application from the financial aid application. Submit it directly to the NRCC Admissions Office.)
To Complete Your Financial Aid Application, You Will Need This Information:
Federal income tax forms (1040's and W-2's) for you, your parents, and your spouse (if applicable) for the previous calendar year
Records of the previous year's untaxed income, such as child support and untaxed income from such agencies as: Social Services, Social Security, and the Veteran's Administration.
Bank account balances, lists of stocks, bonds, and other assets, and both the estimated value and mortgage balance of your other real estate (please do not include your home)
What Happens Next?
Once the FAFSA is processed, you will receive a Student Aid Report. Follow the instructions carefully and provide any missing information. Contact the Financial Aid Office to make sure we have a copy of the Student Aid Report.
The college Financial Aid Office will send you an Award Letter, detailing the aid you are eligible to receive based on your applications. Accept or decline the award and submit back to the Financial Aid office.
To apply for a Federal Stafford Loan (student loan), you must submit the FAFSA and complete a loan application. Contact the Financial Aid Office to find out about the application procedure.
Special Tips:
Apply for financial aid every year. Financial aid programs change. Changes in your situation affect your eligibility.
Remember to list the NRCC Federal School Code (005223).
MEET THE DEADLINES:
Completed applications for fall semester received by April 15 will receive primary consideration for the upcoming academic year. Those received after April 15 will be considered only as funds are available.
Completed applications for summer semester received by March 15 will receive primary consideration for the upcoming academic year. Those received after March 15 will be considered only as funds are available.
Don't pay for financial aid information that you can get for free -- see your counselor or college financial aid advisor, or visit the World Wide Web at: www.finaid.org.
