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A college education is among the most valuable investments a person can make. Many of our students rely on financial aid to help with the expenses of a college education. Our staff can assist you in filling out the Free Application for Federal Student Aid (FAFSA), accessing financial aid records and discussing your personal financial situation with you.
To be considered, you must complete a FAFSA application, which is available every year starting January 1.
Financial aid disbursements are processed after Certification Day each term, beginning around mid-September, mid-February, and mid-June. Completion of requirements by the student must proceed disbursements of funds. After Certification Day, the Financial Aid office sends disbursements to the Student Accounts office. Refunds will be issued to the student by the Student Accounts office.
For a step-by-step guide, follow our Financial Aid Application Checklist.
Be sure to check out these videos:
Types of Financial Aid
We understand that many of our students have other financial obligations that make affording tuition a challenge. That's why we offer a wide variety of financial aid resources. **In order to process your Financial Aid in a timely manner, paper work should be turned in by June for fall classes, by January for spring, and by May for summer. If you are unable to provide the appropriate documentation by that time your Financial Aid could be delayed.**
Federal Pell Grants (PELL) are basic entitlements funded by the federal government that do not need to be repaid. This program is designed for undergraduates who do not have a bachelor's degree, and it serves as the foundation, or base, for other forms of aid. Eligibility is based on need. The amount of the Pell grant is determined by a federal funding formula, the student's cost of education, and the number of credit hours for which the student enrolls each term. Pell grants are available for eligible students who are enrolled in an eligible program.
Federal Supplemental Educational Opportunity Grants (FSEOG) -- are basic entitlements funded by the federal government and the college that do not need to be repaid. Eligibility is based on need and availability of funds. FSEOG funds are campus-based; and therefore, limited funds are available.
Federal Work Study
Federal Work Study (FWS) provides employment opportunities that enable students to earn money to fund their education. Also campus-based, FWS awards are based on documented need and availability of funds. This program encourages community service employment and work related to the student's course of study. To the extent possible, Barton will attempt to provide employment that complements and reinforces the student's educational and vocational career goals. FWS salaries will be paid at the current federal minimum wage and earnings are restricted to the amount of the award. Students employed through FWS will be paid on a monthly basis. Read more information on work-study positions at CCC.
Loans are not gifts or awards; you must pay them back. However, you can defer payment and interest accrual until you finish your degree.
- Perkins Loan: based on need and is available in varied amounts per year at CCC. This loan must be repaid. Interest does not accrue until nine months after the student completes his/her program or is taking less than six credit hours.
- Subsidized Stafford Loan: based on need. First year students may apply for as much as $3,500. The Subsidized Stafford loan must be repaid.
- Unsubsidized Stafford Loan: for students who do not demonstrate financial need through the FAFSA application process or for independent students who require additional funding. The loan must be repaid and interest accrues.
- Parent Loan (PLUS): for dependent students. The loan is taken out in the parent's name. It must be repaid in monthly payments beginning 60 days after full disbursement and interest accrues from date of disbursement.
Additional information on loans:
Veterans may qualify for special tuition benefits. Find more information here.
Time Frame for Processing Financial Aid
Processing financial aid generally takes between four and six weeks, but can vary. Factors that can impact the speed of this process include:
- time of year when the FAFSA is submitted and received by the Financial Aid Office (peak application times impact processing)
- time it takes the student to submit all transcripts to the Registrar’s office (allow time for processing by the Registrar’s office)
- time it takes the student to complete and return all documents if selected for verification
- time it takes the student to complete and submit the award letter and loan request form to the Financial Aid department
- completion of the online master promissory note, and online entrance counseling
Satisfactory Academic Progress Policy
The U.S. Department of Education requires Colby Community College to define and administer Satisfactory Academic Progress (SAP) standards for students receiving Title IV Federal Financial Aid. Students receiving Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, Federal Work Study, any W.D. Ford Direct Loan Programs, and/or any other Federal or state aid must meet the following standards to ensure that only those students demonstrating satisfactory academic progress toward the completion of their educational programs continue to receive financial aid.
The standards of Satisfactory Academic Progress measure a student’s performance in three areas: cumulative completion rate, cumulative grade point average, and maximum time frame. Satisfactory Academic Progress will be measured at the end of every payment period. Notification of failure to maintain satisfactory academic progress will be mailed to the student’s permanent address at that time.
A student must also maintain a 2.0 cumulative grade point average. A student failing to meet then cumulative GPA standard will be placed on warning for the following payment period for which the student is enrolled. A subsequent payment period of unsatisfactory progress will result in suspension.
Online Financial Aid Resources
The Federal Government and many other organizations have sites on the World Wide Web with a wealth of information and services. A few of the best are listed below.
- FAFSA on the Web
- U.S. Department of Education Student Guide
- U.S. Department of Education: Home Page
- Comprehensive Financial Aid Information
- Information from the National Association
- National Student Loan Program Information and Calculator
- Rights and Responsibilities of Fin Aid Students
- Additional Federal Student Aid Information