Financial Aid FAQs
Financial Aid Office: (573) 840-9606
WHO QUALIFIES FOR FINANCIAL AID?
Regardless of your family’s income, you should file a financial aid application. This does not guarantee that you will receive a Pell Grant; however, you may be eligible for another type of financial aid.
HOW DO I APPLY FOR FINANCIAL AID?
Students must complete a Free Application for Federal Student Aid. You can apply on the Internet at http://www.fafsa.ed.gov. Please contact the Financial Aid Office for additional information or assistance.
WHAT IS THE DIFFERENCE BETWEEN A GRANT AND A LOAN?
A grant is gift aid; it does not have to be repaid. A loan will require you to repay it as you would any loan.
HOW SOON DO I GET THE MONEY I AM ELIGIBLE FOR?
Students can expect their money about mid-semester. Pell Grants are applied to the student account in order to pay on existing balances. If your financial aid overpays your account, you will receive a check for the difference.
HOW OFTEN DO I APPLY FOR FINANCIAL AID?
Students must apply for financial aid each award year. The award year runs fall, spring, and summer. It is recommended that you apply by April 1st before the fall semester in order to allow ample time for all paperwork to be processed before the fall semester begins.
WHAT HAPPENS IF I DROP A CLASS AFTER MY PELL GRANT HAS PAID?
You are expected to complete at least 67 percent of the semester hours you were paid for and make satisfactory academic progress. If you fail to pass at least 67 percent of your course load, first time offenders will be placed on financial aid porbation. Failure to complete satisfactory academic progress each following semester will result in financial aid suspension, and you will lose eligibility for financial aid. If this should happen, you will be notified at the end of the semester regarding procedures for reinstatement of your financial aid. For more details, you should refer to the Satisfactory Academic Progress Policy for Financial Aid in the College Catalog or contact the Financial Aid Office for additional information.
WHAT HAPPENS IF I WITHDRAW FROM COLLEGE AND MY PELL GRANT HAS PAID MY ACCOUNT?
If you withdraw from college and your Pell Grant has paid on your account, you will be placed on financial aid probation or suspension. Procedures for reinstatement of your financial aid will be sent to you at the end of the semester. For more details, you should refer to the Refund Policy for Financial Aid in the College Catalog, or contact the Financial Aid Office for additional information.
WHAT IS FINANCIAL AID ELIGIBILITY AND ENROLLMENT STATUS?
Initial financial aid awards are made based upon a projected full-time enrollment status (12+ hours/semester). When a Pell Grant is actually paid to a student’s account, the student is paid based upon the actual number of hours of enrollment at the time of payment. Actual award amount is based upon the award amount combined with the enrollment status.
12+ Full-Time
6-8 Half-Time (50%)
9-11 Three-Quarter (75%)
1-5 Less than Half-Time
This proration applies only to Pell Grants. Student Loans, and Federal SEOG, Federal College Work-Study require a minimum of six semester hours of enrollment. Other types of loans or grants may require full-time enrollment.
Questions regarding any of the Financial Aid programs should be directed to the Financial Aid Office located in the Bess Student Center or by calling (573) 840-9606.
IS THERE A BOOKLET CONTAINING FINANCIAL AID INFORMATION?
The U.S. Department of Education publishes the “Student Guide”, which is available in the Financial Aid Office located in the Bess Student Center.
The Student Guide (Financial Aid Info) (download brochure)
TRCC Moneytimes