ACC Catalog 2008-2009
Financial Aid

Financial Aid Office

The Financial Aid Office provides grants, loans, and work-study opportunities to students who may otherwise be unable to attend college. The amount and type of aid awarded depends on the availability of funds and the studentís established financial need.

Eligibility

Minimum requirements

  • Demonstrate financial need, except in the cases of some loan programs
  • Have a high school diploma or its recognized equivalent (General Educational Diploma or GED) or demonstrate the ability to benefi t from the education or training being offered by passing an independently administered examination approved by the Department of Education
  • Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate program in an eligible program at ACC
  • Be a U.S. citizen or eligible non-citizen
  • Meet Selective Service requirement as specifi ed by federal regulations
  • Meet Satisfactory Academic Progress requirements
  • Not be in default of a state or federal loan
  • Not engage in the unlawful manufacture, distribution, dispensation, possession, or use of a controlled substance during the period covered by federal student aid
  • Not receive fi nancial aid at two schools during the same semester

Transient Students and Consortium Agreements

Students who are taking classes at ACC but earning their degree from another institution are considered transient students for fi nancial aid purposes. Financial aid must be awarded by the institution the student is earning the degree from. This can only be accomplished through a Consortium Agreement issued by the degree granting school. Students should contact their home institution for instructions.

Application Procedures

  • Complete the FAFSA (Free Application for Federal Student Aid) at www.fafsa.ed.gov.
  • Complete the ACC Financial Aid Institutional Application available at the campus Financial Aid Offi ces or on the fi nancial aid website.
  • Submit high school grade transcripts or GED certificate to the Admissions and Records Offi ce. Copies of all college transcripts must be submitted to the Admissions and Records Offi ce.
  • The Admissions and Records Offi ce must evaluate all transcripts.
  • Eligible non-citizens must provide proof of eligibility: I-94, I-551, I-151.
  • Students selected for verifi cation must provide signed copies of federal income tax returns (parents, student/ spouse).

Priority deadlines

Priority deadlines for fi nancial aid applications are established to allow ample time for processing. Students may apply for fi nancial aid after the priority deadlines; however, awards are made on a fi rst-come fi rst-served basis. Federal Pell and/or Federal Stafford Loan/PLUS applications will be processed after the priority dates. Late applicants should be prepared to use their own resources to pay for their initial expenses (tuition, fees, and books).
Session Priority deadline to complete fi le Summer session March 15
Fall/Spring semesters April 1
Spring semester only October 15

Return of Title IV Funds

Federal regulations require students who withdraw completely from ACC to repay a portion of their fi nancial aid. ACC will determine the percentage of Title IV assistance a student earned up through the 60 percent point in the semester. The student will be responsible for paying back the unearned portion.

Types of Aid Available

Grants

Academic Competitive Grant (ACG) - A federal grant program for full-time undergraduate students who have fi nancial need, who are Federal Pell Grant recipients, and U.S. citizens. Students must have completed a rigorous secondary school program of study and be enrolled in at least a two-year academic program acceptable for credit toward a bachelorís degree.
First academic year students must:
Not have been previously enrolled as a regular student in an undergraduate program; and must have graduated from high school after January 1, 2006. The award is up to $750 for the fi rst academic year and up to $1,300 for the second year student with 24 credit hours.

Federal Pell Grant - A federally funded program designed for undergraduate students obtaining their fi rst bachelorís degree. The amount of the Pell Grant depends on the studentís effective family contribution and the enrollment status. The maximum award for 2008-09 is $4,731. This grant does not have to be repaid.

Federal Supplemental Educational Opportunity Grant (SEOG) - A federally funded program established to assist students with exceptional need. Funds are limited, and there is no guarantee that every eligible student will be able to receive this grant.

Austin Community College Student Grant (ACCSG) - Funded through tuition set asides. Funds are limited, and there is no guarantee that every eligible student will be able to receive this grant.

LEAP Grant - A combination of state and federal funds. Funds are limited, and there is no guarantee that every eligible student will be able to receive this grant.

Texas Grant Fund - A state-funded program. A student must be a Texas resident, be a graduate of a public or accredited private high school in Texas, graduated not earlier than 1998-99 school year, completed the recommended or advanced high school curriculum, have fi nancial need or have received an associate degree from an eligible institution no earlier than May 1, 2001, and must reenroll within 12 months of receiving that degree. Awards are $865 per semester at a community college. Check with the Financial Aid Offi ce for additional requirements.

Texas Educational Opportunity Grant (TEOG) - A state grant funded program. A student must be a Texas resident, must have an effective family contribution of $2,000 or less (based on FAFSA results), and be enrolled in at least six hours in the fi rst 30 hours of an associate degree or certificate program at a public two-year institution of higher education. Awards are $865 per semester at a community college. Check with the Financial Aid Offi ce for additional requirements.

Aid for Undocumented Immigrants - Undocumented immigrants qualify as Texas residents if they have lived in Texas for at least 36 months prior to high school graduation or the receipt of the GED. These students are eligible to apply for state aid such as Texas Grant, Texas Educational Opportunity Grant, Texas Public Education Grant, or CAL Loans. Interested individuals must fi rst contact the International Student Offi ce.

Loans

Loans must be repaid.

Federal Subsidized Stafford Student Loan - Insured by the federal government. This has a variable interest rate with a six-month grace period, and minimum monthly repayment of $50. Depending on the studentís established need, up to $3,500 may be borrowed during the freshman year, $4,500 during sophomore year.

Federal Unsubsidized Stafford Student Loan - For students who meet all other eligibility requirements but do not qualify in whole or in part for a Federal Subsidized Stafford Loan. Students will be responsible for all interest that accrues on the loan from the date of disbursement forward.

Federal Parent Loan (PLUS) - Available for parents of dependent students to help pay for school costs. The interest rate is a variable rate. Repayment of this loan begins 60 days after disbursement of funds. Parents choose their lender.

College Access Loan (CAL) - A non-need based loan available to Texas residents enrolled halftime and in good academic standing. Repayment begins six months after student ceases halftime enrollment.

Texas B-On-Time Loan - No-interest loans to Texas residents who: demonstrate fi nancial need; are enrolled full time; and graduated from an accredited high school in Texas during the 2002-2003 academic year or later under the recommended high school program or received an associate degree no earlier than May 1, 2005.

Work-Study

College work-study is a federal or state campus-based program offering students an opportunity to earn money through work. This is available to undergraduate students who demonstrate fi nancial need. ACC pays an hourly rate beginning at $9.25-$10.50. A work-study student may not work more than 19 hours per week except during the summer.

Scholarships

All scholarships offered at ACC are made available by private donors. For more information regarding scholarships, contact the Financial Aid Offi ce or the scholarship website at www.austincc.edu/foundation.