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Federal Aid

Federal Aid Image

There are many federal aid programs to offer you assistance in paying for your college education.

Pell Grant

The Federal Pell Grant Program provides grants to undergraduate students who have financial need and meet the other general eligibility requirements for student financial assistance. Credit balances are paid at the end of the first nine weeks each semester (fall, spring). Pell Grants are awarded during the summer to students

who meet the above requirements. For details about summer Pell Grants, contact the Financial Aid Office.

To Apply for a Pell Grant

Complete the Free Application for Federal Student Aid (FAFSA) on the internet at www.fafsa.ed.gov. The paper forms are only available from the Department of Education. Students may obtain up to 3 paper copies by calling 1-800-433-3243. Financial aid personnel will gladly help with any questions about completing the application. The student should list all schools that he wants to receive the information.
Within two weeks after completing the FAFSA online, or four weeks if completed by paper, the school will receive the results electronically and the student will receive a Student Aid Report Information Acknowledgment (SAR). If the student did not list MCC on the original application, the student should add MCC’s school code online to their FAFSA as soon as possible.

If a student qualifies to receive a Pell Grant and has submitted all necessary documentation, an account is established so that he/she may charge tuition and fees in the Business Office.

Your financial aid will become active in the Bookstore approximately three days prior to class start date. Students receiving financial aid should direct questions or problems to the Financial Aid Office. You will need your student ID and a copy of your class schedule to use your financial aid and to purchase textbooks in the bookstore.

 

 

 

FSEOG

Federal Supplemental Education Opportunity Grant

The FSEOG is a “need based” grant awarded to undergraduate students. Priority is given to students who receive Federal Pell Grants. These awards are made on the availability of funds and the amount varies.

 

Work Study

The Federal Work-Study Program provides on and off-campus employment opportunities for eligible students.

To be considered for a Federal Work-Study job, the student must have applied for a Pell Grant, submitted a College Work-Study Job Application and have unmet  financial need as determined by the Federal Needs Analysis Methodology.

The number of hours a student may work during the academic year is determined by the job to which he/she is assigned. Most  jobs on campus average eight hours per week. All students are paid the federal minimum wage per hour and are paid on a monthly basis. Students are employed to work in the library, residence halls, Production Center, Admissions Office, Records Office, Student Services, as assistants to instructors, and other positions.

Plus Loans

The Direct Parent Loan for Undergraduate Students (PLUS) Program is designed for parents to borrow money to pay education expenses for a dependent child who is enrolled in college. The student must be enrolled in at least six semester hours and making
satisfactory academic progress in a course of study. The maximum loan amount a parent may borrow for each dependent undergraduate student each year is the cost of attendance minus estimated financial assistance. The interest rate is a variable rate. The borrower is required to pay a guarantee fee and origination fee for each loan. The interest on a PLUS loan must be paid by the borrower and begins to accrue on the day the loan is first disbursed. Repayment of the loan must begin within 60 days of the last disbursement of each loan. Direct PLUS applications are available at the MCC Financial Aid Office.

Direct Student Loans

On March 30, 2010, President Barack Obama signed the Heath Care and Education Reconciliation Act of 2010, requiring all Federal Stafford, PLUS and Graduate PLUS loans previously processed as Federal Family Education Loans (FFEL), through private lenders, now be processed through the Federal Direct Student Loan Program effective no later than July 1, 2010.

Starting July 1, 2010, Meridian Community College became an active participant in the William D. Ford Federal Direct Loan Program. Federal Direct Student Loan Program The Federal Direct Student Loan Program offers three types of student loans:
  • Subsidized Loan
  • Unsubsidized Loan
  • PLUS (parent) loan
To be eligible for a Direct loan, the student must:
  • Complete the Free Application for Federal Student Aid (FAFSA),
  • Enroll in at least six (6) semester credit hours (half-time) at MCC,
  • Meet requirements of MCC’s Satisfactory Academic Progress Policy (SAPP)*, and
  • Have a need as determined by the FAFSA and the Cost of Attendance minus other aid.
*Other criteria may also apply. Subsidized Federal Direct Loan Summary Students must have an unmet need, as determined by the FAFSA to qualify for a Subsidized Direct Student Loan. The federal government will pay the interest owed on a subsidized loan while the student is enrolled in at least six credit hours and during the student’s grace period. Unsubsidized Federal Direct Loan Summary Before MCC can certify an Unsubsidized Direct Loan, eligibility for a Subsidized Direct Loan will be determined. The Unsubsidized Loan is not a need-based loan. The borrower is responsible for paying the interest accrued on the loan after disbursement as well as during the life of the loan. To Apply for a Federal Direct Student Loan Once a student’s eligibility criteria has been met, the student must call or come by MCC’s Financial Aid Office and request a Federal Student Loan Application packet.  The packet outlines in detail the requirements that a student must complete in order to apply for the loan.  When the requirements are completed and the information returned to MCC, the loan will be processed and awarded to the student, if eligible.  The student should check MCC’s EagleNet site for award information or documents requested. Disbursement of Loan Money The Department of Education will disburse the student loan funds to MCC in two separate and equal disbursements within the loan period.  All charges owed to MCC will be taken out of the student’s loan disbursement prior to the student receiving a refund.  Student loan refunds will not be available to any student until at least eight (8) weeks after the first day of the semester.  If, when the student loan funds are disbursed or the student comes to pick up his/her loan refund check, the student is not attending at least six (6) credit hours, the loan funds will be returned to The Department of Education. Loan Repayment Repayment of the loan begins six (6) months after the student ceases to be enrolled at least half time. Students may visit The National Student Loan Data System (NSLDS) at www.nslds.ed.gov for a complete history regarding their student loan(s). Exit Counseling Exit counseling is required to be provided to any student who has either:
  • Withdrawn from our school,
  • Transferred to another school,
  • Dropped to less than half-time, or
  • Graduated
Please click here in order to complete online exit counseling. You will need your driver’s license (if applicable), Employer information (if available), addresses, name, and phone number for next of kin and two personal references that live in the United States in order to complete the counseling session.

WIA

Financial Assistance is available for dislocated workers through the Workforce Investment Act of 1998.  A dislocated worker is defined in three ways: A person who has been laid-off from his/her job for no fault of his/her own,usually through downsizing or plant closure;
  • A person who is a displaced homemaker;
  • A person who was financially supported by a dislocated worker.
To be considered for WIA funds, a student must be admitted to an approved program, must have applied for a Pell Grant and must have registered with the Mississippi State Employment Service.  Eligibility is determined through the local WIN center.