Hagerstown Community College awards aid under the Federal Pell Grant Program, Federal Stafford Loan Program, PLUS Loan Program, Federal Work-Study Program, State Grants and Scholarships, and other institutional and outside scholarship programs.

For further details, view the Student Guide.

Three Forms of Federal Financial Aid

Grants

This is money you don’t have to pay back. The terms “grants” and “scholarships” are often used interchangeably. Note: Merit scholarships are also available but qualifying for them has little to do with your finances.

Federal Pell Grant
The Federal Pell Grant Program is for those students who have not completed an undergraduate degree or first professional degree and students must apply annually. In order to continue to receive the Pell Grant students must maintain satisfactory academic progress.

The maximum award amount for the Pell Grant for 2004-2005 is $4,050. The Pell Grant does not depend on the availability of funds at a particular institution. If a student applies, demonstrates financial need, and meets all of the eligibility criteria, he or she will receive a Federal Pell Grant at any eligible participating Federal Title IV School.

Students may be eligible for Pell funds even if they are not full-time. The eligibility for a Federal PELL Grant is awarded based on the EFC (Expected Family Contribution) as determined by the Federal Methodology computation.

The amount of the Pell Grant depends on the student’s EFC, enrollment status and cost of attendance. The eligibility or ineligibility for a Pell Grant may affect a student’s eligibility for other aid.

Federal Supplemental Educational Opportunity Grant (FSEOG)
The Federal Supplemental Educational Opportunity Grant (FSEOG) amounts at HCC will range from $200 to $1,600. FSEOG must be awarded first to students who have exceptional financial need (i.e., students with the lowest EFC), with priority given to Pell Grant recipients. The funds are provided for undergraduate students who have not completed their first baccalaureate or professional degree.

Federal Work Study

Federal Work Study at Hagerstown Community College is awarded on a first-come, first-serve basis to students who show financial need. Available positions are posted on the job board in the Career Center and on the HCC website. You get paid for the work you do. Hours worked are recorded on time sheets and turned in to the Financial Aid Department. The Finance Department will issue you a check twice a month for hours you actually worked. Work-Study aid is a federally funded program. It provides students with some extra money to help meet college expenses during the school year.

Federal Work Study students are paid at least the Federal minimum wage rate.

Loans

This is money you do have to pay back. You may not consider loans to be financial aid, but some loans are because of their favorable interest rates and repayment terms.

Federal Family Education Loan Program:

Stafford Loans
Consider carefully how much you will need to borrow and the burden your loans will impose after you leave school.

There are two types of Federal Stafford Loans:
     SUBSIDIZED - based on financial need; government pays interest
     UNSUBSIDIZED - not based on need; borrower is responsible for interest payment

Students may qualify for either of the above types of Stafford Loans or a combination of the above and must be enrolled for a minimum of six credits per semester.

Undergraduate Federal Stafford Loan applicants must also have a determination of eligibility or ineligibility for a Federal Pell Grant before the Federal Stafford Loan can be certified.

To apply for a Federal Stafford Loan you must complete the following requirements:

• Complete the FAFSA and provide any additional documentation requested by the Financial Aid Office for your Student Aid Report.
• Complete the Certification Form on HCC’s Web Site.
• Click on the link to “Mapping Your Future” (mapping-your-future.org) to access the on­line entrance counseling session and quiz. (The results of the on-line quiz will be e-mailed to the Financial Aid Office within 48 hours.)
• HCC will send you an award letter. Sign and return it to the Financial Aid Office.
• WATCH YOUR MAIL!!! Your lender will be sending you a Master Promissory Note (MPN) to complete, sign and return to them, not HCC. You may need to check with the Enrollment Services Office to verify your mailing address. NOTE: If you fail to return your MPN to your lender your loan will not be processed.
• To check on your loan status you may access the following web site: elmresources.com. You will need to enter your social security number.
• Complete the Exit Interview in the Spring semester and have the results e-mailed to the Financial Aid Office.

Failure to attend an interview session and complete the required paperwork may result in a federal audit of your loan and grades, transcripts, and/or your diploma may be held up.

The proceeds of the loan must be sent directly to the school and the school has the responsibility of delivering the funds to the student. If the funds are disbursed by check, the check must be made payable to both the school and the student. Usually the proceeds are given out in two disbursements.

A Note On Borrowing: Many students find that they must borrow money to finance a portion of their education. Before you borrow, remember that loans must be repaid at some point in the future.

Federal PLUS Loan Program (for parents)

The Federal PLUS Loan Program is a source of aid for parents of dependent students. There is no maximum amount a parent may borrow but the loan amount cannot exceed the difference between the student’s cost of attendance and his or her other estimated financial aid. There are no aggregate limits as there are with the Federal Stafford Loan Program.

Loans are made payable to both the school and the parent and must be disbursed directly to the school.

Parent Loan for Undergraduate Students (PLUS) Borrowers Information Sheet

Please remember that you must repay this loan. Borrow only the amount that you can afford to repay, even if you are eligible to borrow more. The total amount you can borrow is limited to your dependent student's estimated cost of attendance minus any financial aid he or she has been awarded. Your first payment will be due within 60 days of your final disbursement.

Your child may be eligible to borrow under the Stafford Loan program. For more information, please see the link on this website regarding Stafford Loan Certification instructions.

How do you apply for PLUS?

     1. Student completes the Free Application for Federal Student Aid (FAFSA)
     2. Student completes the Hagerstown Community College Financial Aid Supplement
         Form and returns it to the Student Financial Aid Office
     3. Parent completes the Loan Request Certification Form below and submits it to
         the Student Financial Aid Office
     4. Your lender will be sending you a Master Promissory Note (MPN) to complete,
         sign, and return to them - not HCC. Note: If you do not return the MPN to your
         lender, your loan will not be processed.

PLUS Loan Lender Benefits (xls)
PLUS Loan Certification Form (doc)
     (you may need to download acrobat reader)