How to Apply FAQ's

Financial Aid Calculators — www.finaid.org/calculators
(opens in a new browser window)

1. When should I apply?
2. What makes me eligible for financial aid?
3. How is my financial aid determined?
4. Do I have to include parental information?
5. How is financial aid dealt with during summer semester?
6. What if I need to drop a class or totally withdraw?
7. What if I need to repeat a course? Can I still receive financial aid?

1. When should I apply?

   Generally, completed applications received prior to April 1 may be given first priority for the next academic year. The deadline for Spring and Summer Semesters is the Final Registration day of the respective semester. Applications received after the deadline will be considered only if funds are still available.

   Students MUST apply for financial aid each academic year of their college attendance.
   [ return to top of page ]

2. What makes me eligible for financial aid?

   Once the eligibility requirements are met, student financial aid is awarded on the basis of financial need and/or academic merit and various qualifying criteria as outlined by each scholarship committee or guidelines. Financial aid is issued in the form of grants, scholarships, loans and work-study.

   Financial aid is awarded non-discriminately without regard to age, color, disability, handicap, height, marital status, national origin, citizenship, political affiliation, race, religion, gender, sexual orientation, veteran's status, or weight.

   Upon applying for financial aid at NMC, the applicant is automatically considered for the following types of assistance:

• Federal Grants/Loans/Wordstudy
• State Grants/Scholarships/Wordstudy
• Institutional Scholarships

Application materials are available from the Financial Aid Office, Tanis Building, Room 142, or by calling (231) 995-1035, Option 1.

A student's application for aid will be considered complete when:

1. The applicant is accepted for admission in a program of sutdy leading to a degree or certificate at NMC and is making Satisfactory Academic Progress while attending NMC, and
2. The Financial Aid Office has on file the following for the aid applicant:
   1. Institutional Student Aid Information Report (ISIR). This report is electronically transmitted to NMC as a result of the student listing NMC as a recipient on the Free Application for Federal Student Aid (FASFA).
   2. Official Academic Transcripts from all previous colleges preferred.
   3. Complete IRS Tax Refunds (including schedules and W2's) and all other required verification documents at the request of the federal government and/or NMC.
      [ return to top of page ]
      
      
3. How is my financial aid determined?

   Complete and accurate financial aid applications will be reviewed for funding through all Federal, State, and Institutional programs awarding gift-aid first (scholarships and grants) with self-help (loans and work-study) second. Depending on availability, every effort will be made to award sufficient funds to cover direct educational expenses (tuition, fees, books, and required supplies). Generally, gift aid will not exceed one-half of the cost of attendance.
   [ return to top of page

4. Do I have to include parental information?

   Refer to the following links:

   • 2007-2008 Financial Aid Year
     [ return to top of page ]
     
     
5. How is financial aid dealt with during summer semester?

   Each academic year you are eligible to receive a certain amount of financial aid. This amount is determined from the results of the Free Application for Federal Student Aid (FAFSA). The amount of financial aid you were awarded during the Fall and Spring semesters will affect eligibility for Summer semester.

   Starting in April, students who are registered for Summer semester will be reviewed regularly for additional aid eligibility. Those students who received a Pell Grant but were not enrolled full-time for either Fall or Spring semester may be eligible for any remaining funds.

   If you wish to apply for a loan, and have not already used your eligibility for Fall and Spring semesters, you may do so by picking up a loan application at the NMC Financial Aid Office or by calling (231) 995-1035 Option 2.
   [ return to top of page ]

6. What if I need to drop a class or totally withdraw?

   If a student withdraws (officially or unofficially) from all classes before 60% of the semester is completed, federal regulations require NMC to determine the amount of financial aid the student has earned for that semester of enrollment. A student may be eligible to retain the percentage of Title IV aid earned that is equal to the percentage of the enrollment period that was completed. These funds will be credited against charges incurred for that semester (i.e. tuition/fees, books/supplies, on-campus room and board and short-term loans). If the charges incurred for the period of that semester exceed the adjusted financial aid, the student is responsible for the balance. If the adjusted financial aid exceeds the charges incurred for that semester, the student will receive the remaining portion. The unearned Title IV aid must then be returned to the appropriate federal aid program.

   Order of Refund Distribution:

   1. Federal Unsubsidized Stafford Loan
   2. Federal Subsidized Stafford Loan
   3. Federal Parent Loan for Undergraduate Students (PLUS)
   4. Federal Pell Grant
   5. Academic Competitiveness Grant (ACG)
   6. Federal Supplemental Educational Opportunity Grant (SEOG)
   7. Other Title IV aid

   Student financial aid recipients may receive the portion of their financial aid based on the Federal Return to Title IV Funds Policy. Sample calculations may be obtained in the Financial Aid Office.

   The student aid recipient who withdraws from all classes after the start of the semester will be placed on financial aid probation as outlined in the NMC Satisfactory Academic Progress policy. If that student is currently on financial aid probation at the time of withdrawal, he/she will be ineligible to receive further aid until Satisfactory Academic Progress can be demonstrated, pending mitigating circumstances.

   The dropping of classes may result in a financial aid adjustment for the semester and could also affect the student's Satisfactory Academic Progress. A student's credit load is established at the end of the refund period for the full semester.
   [ return to top of page ]

7. What if I need to repeat a course? Can I still receive financial aid?

   For financial aid purposes, classes that are repeated may not be counted in the total number of credits for the semester if the prior class can be counted toward graduation.
   [ return to top of page ]