The maximum annual award for the Federal Pell Grant program is determined annually by
Congress and is $6195 for the 2019-2020 award year. Eligible applicants with an EFC of zero (0) on their ISIR may be eligible for this award amount. Award amounts decrease as the EFC value increases, and EFC values in excess of 5576 are not eligible for Federal Pell Grants. You are ineligible for a Pell Grant if you already possess a bachelor’s degree or if you have defaulted on previous federal student loans.
After you file your Free Application for Federal Student Aid (FAFSA) through the USDE’s website at www.fafsa.gov, the institution will receive an Institutional Student Information Record (ISIR). This report contains the results of your application and will also determine your Expected Family Contribution (EFC). Your EFC is a result of the needs analysis that the FAFSA performs based on your family size, income and assets. The EFC is a measure of how much you can contribute to the cost of your education. The school uses the EFC to determine your Federal Student Aid Eligibility. It is NOT how much aid you will receive or how much you have to pay for college.
The EFC will be used to determine your eligibility for federal aid. Your financial aid is determined annually, for each school year. The institution determines that a full school year (also referred to as an academic year) is a period that includes 900 clock hours and at least 26 weeks of instruction. You may be eligible to receive a full annual award for each school year/academic year. If your program is more than one year but less than 2 years, you may be eligible for a full year’s financial aid for the first 900 hours and potentially a prorated amount of aid for the partial second academic year. For enrollment in a program that is less than a full academic year (less than 900 hours), you would be eligible only for a prorated academic year award.
Students may also be eligible to obtain loans through the U.S. Department of Education. Loan eligibility is based in part on dependency status. Students who are considered by law to be “Independent” can qualify for up to $9,500 for their first full academic year of training. Dependent students may be eligible to obtain student loans up to $5,500 for their first academic year. Lower income students who qualify may have up to $3,500 of the maximum amounts shown above, subsidized by the USDE. Subsidized loans are those for which the interest is paid by the USDE while a student is completing their training. Your loan counseling material will more fully explain the details of subsidized and unsubsidized loans. The amount of subsidized and/or unsubsidized loans for which you may qualify is based on the Cost of Attendance (COA) for the academic year less your EFC value and any other financial aid you may be receiving. Your award letter will provide you with the COA and the total amount of your federal aid eligibility for the school year. You should contact a financial aid officer at the institution for more details about your financial aid package and about the additional rules governing disbursement of federal aid.
Weekly group and individual
tours available. Call today to
reserve your spot!
Call or Text 215-322-0667
The FAFSA application is accessible thru FAFSA.GOV and students may apply as early as able. The 2019-2020 is the FAFSA to fill out if you will be starting or attending school anytime between July 1, 2019 and June 30, 2020. Students who expect to be still be enrolled in school beyond July 1, 2019 completing their program of study must complete a 2019-2020 re-newal FAFSA application to receive federal aid during that award year. Submitting your application as early as possible will help the school determine how much finanacial your qualify for and what type of awards you can expect to receive.
Your 2017 income (and that of your spouse, if married or parents, if dependent) is used to determine your federal aid eligibility for the 2019-2020 award year. You may submit your FAFSA application as early as October. We advise you to use the IRS Data Retrieval function on the FAFSA to retrieve your Federal Tax return data and transfer it automatically into the FAFSA. Using this data retrieval process ensures that your financial aid file is processed accurately and efficiently with minimal additional information necessary.
Students who paid tuition and fees during a Calendar year, whether through cash payments or student aid, will be receiving an IRS Form 1098T from the institution by January 31, of the follwoing year. This report will be necessary for you to obtain any education tax credits on your Federal Tax return.
Applying for federal financial aid is an easy, web-based process. You can filll out the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov or go to www.studentloans.gov, which is the USDE website that can act as the student’s home page for his/her federal aid application process. There are three main items you will need to complete, the FAFSA , an Electronic Master Promissory Note (E-MPN) and Federal Direct Student Loan Entrance Counseling. Applications & Counseling may be completed at the websites listed.
The U.S. Department of Education requires a student to apply for a Federal Student Aid Identification to apply on-line for the FAFSA and MPN. Go to WWW.FAFSA.GOV and click the FSA ID link to register on-line for a Federal Student Aid ID (FSA ID). This will enable you to gain access to federal student aid related web sites. Accessing your federal student aid information including your FAFSA, master promissory notes, loan information & loan counseling materials, etc. You will be required to create a user name and password to create a your FSA ID allowing you to login and electronically sign documents. If you have been identified as a dependent student by FAFSA guidelines, one Parent will need to apply for a FSA ID also. This allows the parent to sign your FAFSA electronically. They may also apply for Federal Loan (PLUS) assistance as a parent using their FSA ID.
Median Debt is the amount owed by student after completion of the program.
Our calculation includes the 47 students that were enrolled, started or graduated in the academic year 7-1-2017 to 6-30-2018.
32 Students had NO debt scheduled to be paid after completion of their program.
23 Students had debt ranging from $2,772.00 to $19,788.00.
The Median Debt marker was $0.00, which was the 28th student.
The Calculation was done 9-22-2018 and documentation is available in the administrative office.
You must file a FAFSA if you are planning to attend and want to apply for Federal Financial Aid.
You will need your (and possibly your parents) Federal Tax Return.
By submitting this form, you agree to receiving information from BCSBC via telephone, mail, email or text. To unsubscribe please call.