FAQ

What is Financial Aid?

Financial aid is monetary assistance provided through various sources to help you meet your financial needs while attending college.

What kinds of aid are available?

  1. Grants – This is money that you do not have to repay.
  2. Work Study – This is money you actually earn. The college provides employment opportunities that can help pay your college expenses.
  3. Alternative Loans or Private Loans – These are funds which are provided by a lender and must be repaid. This repayment usually includes interest. These loans are based on borrower credit worthiness or borrower with credit worthy co-signer. Most alternative loan programs require the student to be enrolled at least half-time in an eligible degree or diploma program.
  4. Scholarships – These funds do not have to be repaid; however, there are often stipulations, such as financial need and/or academic achievement attached to the award. Contact the WCC Foundation Office for scholarship information and applications. Additional scholarships may be found online at the Federal Student Aid Gateway.

How do I apply for financial aid?

The first step is to complete the Free Application for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov. FAFSA worksheets, to help you prepare for completing the FAFSA, are available at your high school guidance center or the WCC Financial Aid Office. Mail-in applications are available for download at the Federal Student Aid Gateway or by contacting the Central Processing System at 1-800-433-3243. In order to be considered for state aid, as well as federal campus-based programs (Federal Pell Grant, Federal SEOG and Federal Work-Study) the FAFSA must be received by the federal processor. The FAFSA may be completed as early as January 1 of each year. Early filing ensures prompt processing of your application. See the Wayne Community College calendar for recommended priority deadlines.

How do I sign my FAFSA if I file it electronically?

Students are encouraged to obtain a PIN number in order to sign their FAFSA electronically. Parents of dependent applicants are also encouraged to obtain a PIN number. To obtain a PIN number, visit http://www.pin.ed.gov. PIN numbers will be sent to you via the delivery mode you request.

What is Wayne Community College's Title IV School Code?

008216

In order for us to receive your application electronically, it is important that you include our school code on your application.

Do I have to reapply for financial aid each year?

Yes. Financial need is determined each academic year. Therefore, you must complete a new FAFSA each academic year. It is a good idea to complete your FAFSA when you complete your federal tax return.

Do I have to report my parent(s) income?

Financial aid is based on the principle that you and your parents have the primary responsibility for paying for your post-secondary education if you are a dependent student. This is why you may be required to report your parent(s)’ income. However, the federal government will consider you independent of your parents if one of the following requirements is met: you are 24 years old, married, enrolled in a graduate program (e.g., master’s or doctorate), have children or other legal dependents for whom you provide more than half of their support, are an orphan or ward of the court, or are a veteran. You may still be considered an independent student if you meet any of the following conditions: you are a legally emancipated minor, are in a legal guardianship, or were determined by a high school homeless liason, director of an emergency shelter or transitional housing program funded by HUD, or director of a runaway or homeless youth basic center or transitional living program to be an unaccompanied youth who is homeless or at risk of becoming homeless.

What is a financial aid package?

Your financial aid may come from a variety of sources and may contain a combination of aid in the form of grants, scholarships, and work study. Once your FAFSA is submitted and processed, the Expected Family Contribution (EFC) will be computed. This EFC is determined by considering several factors, including the number of persons in the household, the household income, and the number of persons from the household in college. The EFC is subtracted from the college’s total cost of attendance to determine how much financial aid you may be eligible to receive. Some awards require supplemental applications.

How will I know how much aid I have been awarded?

Approximately two weeks after you complete the financial aid file and have completed requirements for admission, you should receive an award letter in the mail specifying the amount and type of your financial aid award.

What provision is made for special circumstances?

While the process of determining your financial aid eligibility is basically the same for all applicants, there is some flexibility for specific circumstances. Situations which might merit special circumstances include but are not limited to 1) unusual medical and dental expenses, 2) loss of employment or change in employment, 3) one-time income payment, or, 4) a family and financial situation where a student normally considered dependent could be considered independent. If you feel you have any special circumstances that might affect the amount you and/or your family is expected to contribute, talk with a Financial Aid Counselor before you complete the Free Application for Federal Student Aid.

Can I get financial aid if I attend less than full-time?

All financial aid awards are based on full-time status (12 credit hours or more). However, if you attend less than 12 credit hours, your federal and state grants will be prorated down to the number of hours you are attending. You may be able to receive the Federal Pell Grant, Federal Work-Study, FSEOG and some state grants if you attend less than full-time. You must meet the lender’s eligibility and enrollment requirements in order to receive most Alternative or Private loans.

When will I get my financial aid funds?

If you have aid in excess of your tuition/fees and bookstore charges, a check will be mailed to you for the balance after all semester charges have been made. Refunds will be generated once enrollment has been confirmed and received in the Office of Financial Aid. If you drop classes and your enrollment status drops below full-time, your financial aid award will be reduced.

How does withdrawing from classes affect my financial aid?

Federal and State regulations require that students receiving financial aid maintain satisfactory academic progress. One requirement is that you must complete at least 67% of the total cumulative credit hours attempted (e.g., 50 attempted credit hours, student must complete at least 33). A second requirement is that you maintain a cumulative 2.0 GPA in all coursework. Therefore, withdrawals, failing grades, and incompletes will count against you. Also, if you completely withdraw from college before the 60% point of the semester, you may be required to repay all or a portion of unearned funds to WCC.

Can I apply for financial aid if I haven't applied for admission?

Yes. Since applying for financial aid is an extended process, you need to begin applying as soon as possible. However, financial aid will not be awarded to students who have not been accepted to the college and submitted official transcripts from high school and any colleges previously attended.

Are all programs of study eligible for financial aid?

No. A program must be at least 16 total credit hours in length AND must lead to a degree, diploma or certificate in order to be eligible for financial aid. Programs that are offered through the Continuing Education department do not meet the eligibilty requirements for financial aid. Additionally, special credit or dual-enrolled students are not eligible for financial aid. If you are unsure about aid eligibility and the program you are considering, contact the Financial Aid Office for clarification.

How can I tell if a scholarship offer is a scam?

According to the Federal Trade Commission, unscrupulous companies guarantee or promise scholarships or grants. Some guarantee that they can get scholarships on behalf of students or award them “scholarships” in exchange for an advance fee. Most offer a “money back guarantee” – but include conditions that make it impossible to get the refund. Others provide nothing for the student’s advance fee-not even a list of potential sources. Some companies ask for a student’s checking account to “confirm eligibility,” then debit the account without the student’s consent. Even if the company does provide the student with an award source(s), most often the same information is available at the Financial Aid Office for free.

Click here for Scholarship Scam Homepage for more helpful information on scholarship scams, plus a list from the Federal Trade Commission (FTC) of fraudulent companies to avoid, and more.

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Location

Wayne Community College
3000 Wayne Memorial Drive
Goldsboro, NC 27534
(919) 735-5151 - Admin