Frequently Asked Financial Aid Questions
Frequently Used Telephone Numbers
| FAFSA | (800) 433-3243 |
| PHEAA State Grant | (800) 692-7392 |
| AES | (800) 233-0557 |
| DEFAULT | (800) 233-0751 |
Who should file the Free Application for Federal Student Aid (FAFSA)?
All students who plan to attend Community College of Philadelphia. You should file even if you are not sure if you will need financial aid. The form is good for the entire school year.
What is the federal school code for Community College of Philadelphia?
Community College's School Code is 003249. By listing our school code on the FAFSA form, the College will receive your information electronically from the federal processor.
Is there a filing deadline for FAFSA?
Community College of Philadelphia students who plan to pay for courses with financial aid must file their FAFSA by the IRS tax filing deadline for the upcoming aid year to receive priority processing.
How do I file the FAFSA?
You must file your online FAFSA at www.fafsa.ed.gov. FAFSA paper applications may be obtained by calling (800-433-3243). Forms are no longer sent to the College. Processing time for the FAFSA application is approximately two weeks if you file online. If you choose to mail the FAFSA, processing takes about four to eight weeks.
Can I file the FAFSA if my parent(s) or I have not yet filed our taxes
for the tax year?
To avoid delay in processing of your application, you should have a completed income tax return. However, if you or your parent(s) have not filed taxes, you can estimate the tax information by using your W-2 forms. Note: Corrections may be needed after you file your taxes, which can delay the processing of your financial aid.
Do I need my parent's tax information if I do not live with them?
The federal government considers you a dependent student if you do not meet one the following criteria:
You were not 24 years of age
You are not enrolled in a graduate program
You are not married
You do not have dependent children or other dependents for which you provide
˝ their support
One or both of your parents are living
You are not a veteran of the Armed Forces.
What requirements must I meet to be considered independent?
There are seven requirements which determine whether a student is independent. However, the student only needs to meet one of the following criteria to qualify as an independent student:
- You are 24 years of age
- You are enrolled in a graduate program (master or doctorate)
- You are married.
- You have dependent children for which you provide more than 50% of their support throughout the year
What happens once I file my FAFSA form?
After the FAFSA form has been filed, your Student Aid Report (SAR) will be mailed to you. If you filed electronically, your SAR will be sent electronically. The SAR indicates your expected family contribution (EFC) and Federal Pell Grant eligibility.
When will I receive my balance check?
Balance checks are mailed to students after the third week’s attendance has been submitted by all instructors. Upon final processing of attendance by the Office of Records and Registration and the Financial Aid office, checks are mailed the fourth week and fifth weeks of the term. Students who receive an advance check and are reported as “never attended” will be required to return the advance check.
Do I have to attend my classes to get Financial Aid?
Yes. Failure to attend class will result in the reduction or loss of financial aid and the return of any advance or balanced check funds will be required.
What is an illegally repeated course?
An illegally repeated course is a course for which you have registered three (3) times whether you withdrew or not; have registered three times and receive a grade of “D”; registered once and received a grade of “C” or better. If a student previously received a grade of “NR” or “I,” financial aid will not pay for these courses.
I withdrew from all my classes. Why do have to pay any money back?
Students must earn Title IV Funds that is received. The amount of aid earned is determined by the length of time the student was enrolled. Students who withdraw during the 60% point of the semester are considered to have earned 100% of their financial aid funds. Students withdrawing prior to that period may need to have financial aid funds returned.
If I am not eligible for the Federal Pell Grant, what other types of Financial Aid is available?
The FAFSA is used to determine your eligibility for federal grants, state grants, work study and loans. When students are not eligible for the Federal Pell Grant, they may be eligible for the state grant. Students also have the option to apply for a Federal Stafford Loan, which you must pay back.
How do I apply for a Federal Stafford Loan?
Students must complete a FAFSA form, even if they are not eligible for a Pell Grant, and a Stafford Loan application. Applications (Federal Master Promissory Notes) can be obtained from any bank. Students may also apply online at www.pheaa.org. You must be enrolled for a minimum of six credits in order to get a loan. Students should indicate on the FAFSA that they are interested in student loans.
What is the difference between subsidized Federal Stafford Loan and an unsubsidized Federal Stafford Loan?
Subsidized loans are need based loans. The interest is paid by the federal government while the student is attending school at least half time (six credits). Unsubsidized loans are not need based, and the student is responsible for the interest while attending school. Students have the option to defer making the interest payments if he/she is enrolled part time.
What is entrance counseling?
Entrance counseling is for all first-time borrowers at Community College of Philadelphia and is required by law. It is used to educate students on the types of funds they are borrowing, the amount students may borrow, interest rates, repayment options and debt consolidation. Students may complete entrance counseling online at www.pheaa.org.
Why do I have to complete exit counseling?
Exit counseling is a federal requirement for all students exiting an institution or transferring to another institution. The purpose of exit counseling is to educate borrowers about their rights and responsibilities.
If I am not exiting or transferring from the College, do I still have to complete exit counseling?
Exit counseling is not required for these situations. However, students must complete a Certification Request form and forward it to the Office of Records and Registration. This notifies your lender that you are still enrolled in school.
How do I apply for a PHEAA state grant?
Students must file a FAFSA application by May 1. The information from the FAFSA is automatically submitted to PHEAA.
When is the deadline for PHEAA State Grants?
The deadline is May 1.
When will I receive my PHEAA State Grant?
Students receive a letter from PHEAA several weeks after the FAFSA has been processed. If a student is eligible, their grant will be applied to their account in approximately the 10th week of class. Students that have not received their PHEAA state grant by mid-November may check with the Financial Aid Office for the status. A student must be enrolled for a minimum of six (6) credit hours to be eligible for the PHEAA state grant.
How do I apply for the Federal Work-Study Program?
Students must file the FAFSA application by March 15 to be eligible for the Federal Work-Study Program. The estimated family contribution (EFC) on the Student Aid Report (SAR) must be 1,500 or less. A student’s enrollment must be at least six (6) credit hours. Work authorization forms must be picked up from the front counter of the Financial Aid office (BG-3), signed by your supervisor and returned to the Financial Aid office. Students should indicate on the FAFSA that they are interested in Federal Work-Study.
If eligible for Federal Work-Study, how many hours can I work?
Students eligible for the Federal Work-Study Program are permitted to work a maximum of 20 hours per week during the fall and spring semesters.
Under the Federal Work-Study Program, what is the hourly pay rate?
The rate of pay is $7.50 per hour, or until your award is exhausted.
Do I have to make an appointment to see a Financial Aid Administrator?
No. Administrators are available at the Main Campus, Monday through Thursday from 9:00 a.m. until 7:30 p.m., Friday from 9:00 a.m. until 12:00 p.m., and some Saturdays from 8:30 a.m. until 1:30 p.m. (check our website under the Office of Financial Aid section or the course listing for Saturday dates). Administrators are also available at our Regional Centers. Hours may vary at the Regional Centers during peak time.
Northeast Regional Center Hours 9:00 - 5:00
Northwest Regional Center Hours 9:00 - 5:00
West Regional Center Hours 9:00 - 4:00
Summer Hours
May through August
Monday – Wednesday 9 a.m. to 7:30 p.m.
Thursday - 9 a.m. to 3:45 p.m.
The College is closed on Fridays during the summer
How do I find out about scholarships?
Scholarship information may be obtained from libraries, civic organizations, churches and online. Listed below are some of the national Web-based searches.
www.fastaid.com
www.collegeboard.org
www.pheaa.org
www.ed.gov
www.fsahelp.ed.gov
www.sss.gov
www.gibill.va.gov
Glossary of Financial Aid Terms
Academic Progress:
Students must complete 67 percent of all credits they attempt, a student must earn an acceptable Grade Point Average (GPA), students must earn passing grades in their classes. Federal regulations governing Financial Aid are much more strict that the Academic policy at Community College of Philadelphia. Students may receive "academic amnesty;" however, they may be required to pay for their courses.
Accrued Interest:
The interest that accumulates on the unpaid principal balance of a loan.
Annual Percentage Rate (APR):
The interest maintained on a loan for a one-year period.
Capitalization:
The addition of unpaid accrued interest onto the principal balance of a loan that increases the total outstanding debt.
Citizenship:
A student has to be a citizen or eligible non-citizen to receive aid, citizenship statuses that meet this requirement is a person(s) born in the 50 United States U.S. or the specific eligible statuses are:
- A U.S. citizen or national.
- A U.S. permanent resident.
- Citizens of certain Pacific Islands (the Freely Associated States).
- Other eligible non-citizens
Consolidation:
Combining multiple education loans into a new loan with a new payment schedule and interest rate.
Default:
The failure to repay a loan in accordance with the terms of the promissory note; occurs after 270 days of nonpayment on a federal loan account or 120 days of nonpayment on a private loan account.
Deferment:
An approved temporary suspension of loan payments based on certain events or criteria.
Delinquency:
The failure to make scheduled monthly loan payments when they are due.
Dependent Student:
Disbursement:
A financial transaction that occurs when a lender releases loan funds.
Drug Conviction:
A student loses eligibility for Title IV aid only if the drug-related offense for which the student was convicted occurred during a period of enrollment for which the student was receiving Title IV aid.
Expected Family Contribution (EFC):
The dollar amount that a family is expected to pay toward a student's educational costs; a Federal calculation based on family earnings, assets, students in college, and size of family.
FDSLP:
The Federal Direct Student Loan Program.
Financial Need:
The difference between the student's educational costs and the Expected Family Contribution.
FFELP:
The Federal Family Education Loan Programs formerly known as the GSL-Guaranteed Student Loan Programs.
Forbearance:
The approved temporary suspension of loan payments, due to a financial hardship, during which interest continues to accrue.
Free Application for Federal Student Aid (FAFSA):
The application students must first complete in order to apply for virtually all forms of financial aid assistance.
Grace Period:
The period after a student either graduates or leaves school and before loan payments must begin.
Graduate (student):
A postsecondary student who possesses a bachelor's degree and is pursuing additional postsecondary education.
Grants:
Financial aid that does not have to be repaid; aid usually awarded to students based on financial need.
Guarantor:
The agency or institution that insures up-to-permissible limits against loss to lenders in the event of default.
Interest:
The dollar amount associated with borrowing money.
Lender:
The institution that provides the money to be borrowed through the student loan program.
Parent/Graduate PLUS Loan:
A Federal loan program through which parents of undergraduate students (Parent PLUS) or graduate students (Graduate PLUS) borrow funds to help pay for an education. Each year they may borrow, from a bank or other lending institution participating in this program, an amount up to the difference between the educational costs and other financial aid.
Private Loan:
A loan that is created through a private lending institution, has a private guarantor, and is not part of the Federal Family Educational Loan Program.
Promissory Note:
The legal and binding contract signed between the lender and the borrower which states that the borrower will repay the loan as agreed upon in the terms of the contract.
Return of Title IV funds (Return of Financial Aid):
The Office of Financial Aid is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations. If a student leaves the institution prior to completing 60% of a payment period or term, the Office of Financial Aid recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal.
Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.
Scholarships:
Financial awards that do not usually have to be repaid; monetary aid typically given to students who demonstrate or show promise of high achievement in areas such as academics, athletics, music, art or other disciplines.
Servicer:
An organization that acts on behalf of the lender to administer their student loan portfolio and is paid a fee to do so
State Grant Program: state funding coordinated by PHEAA that provides grants to Pennsylvania residents who meet the eligibility criteria and are pursuing postsecondary education.
Student Aid Report (SAR):
The form students receive (after filing a FAFSA application) that notifies them of their eligibility for Federal student aid.
Subsidized Loans:
Loans for which the Federal Government pays the accrued interest during any approved deferment periods.
Title IV Loan:
A category of educational loans made, insured, and guaranteed as part of the Higher Education Act of 1965, and included in the Federal Family Educational Loan Program (FFELP); specifically Stafford, Unsubsidized Stafford, SLS, PLUS, and Consolidation Loans.
Undergraduate (student):
A postsecondary student who has not yet received a bachelor's degree.
Unsubsidized Loans:
Loans for which the borrower is responsible for paying the interest that accrues on the loan from the date of disbursement until the loan is paid in full, regardless of enrollment status.
Return of Title IV funds (Return of Financial Aid):
The Office of Financial Aid is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations. If a student leaves the institution prior to completing 60% of a payment period or term, the Office of Financial Aid recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.
Work-Study Payments:
Program in which students who work on-campus or off-campus earn funds to help pay for school costs.