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Financial Aid Home Eligibility Requirements How to Apply Helpful Hints for Completing the FAFSA Determining your Eligibility Financial Aid Programs Forms Loans Federal College Work Study Tuition & Fees Satisfactory Academic Progress (Current) Satisfactory Academic Progress
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STCC Financial Aid - Financial Aid Programs

The Financial Aid Office receives money from both federal and state agencies. Types of aid include grants, loans, and student employment.

Federal Aid

• Pell Grant – Award range is $976 - $5350 and is based on the EFC (under $4617), cost of attendance, and enrollment status of full time (12+ credits), ¾ (9-11 credits), ½ (6-8 credits), or less than 6 credits. This is an entitlement program as long as you continue to meet federal eligibility requirements and do not have a BA/BS degree, or it's equivalent.
• Supplemental Educational Opportunity Grant (SEOG) – This grant is awarded to students with the greatest need. The minimum award offered is $100. Funding for this program is limited.
• Academic Competitiveness Grant (ACG) – To be eligible for this grant, you must be a U.S. citizen or eligible non-citizen, be a Federal Pell recipient, be enrolled a minimum of half-time in a degree or certificate bearing program, have completed a rigorous secondary school program of study and if you are a first year student, have not been previously enrolled in an undergraduate program. If you are a second-year student, you must have at least a cumulative 3.0 GPA for the first academic year. First-year awards are valued at $750 and second-year awards are valued at $1300. This does not need to be repaid.
• College Work-Study (CWS) – This program allows you to earn money while attending college and provides valuable work experience. All jobs are available on the college campus. If you accept a community service position you will be required to evaluate your experience. You can work between 10 – 20 hours per week and earn at least the current minimum wage. Depending on the type of work you do and your skill level, the pay rate may vary.
• Federal Direct Student Loan(s) – These are low interest loans available directly from the federal government. The Treasury Department sets interest rates every July. If you demonstrate need, you can borrow a subsidized loan and the government will pay the interest while you are in school. If you do not demonstrate a financial need you we can offer you an unsubsidized loan. For more information on student loans, please refer to our loan section.
• Parent Loans (PLUS) – If you are a dependent student, demonstrate financial need, and are enrolled at least ½ time, your parents may be able to borrow money for your educational expenses. Your parents are required to pass a credit check and must begin repayment of principal and interest as soon as the loan is disbursed. The current interest rate is 8.5%.

State Aid

In order to be eligible for state aid you must be a permanent resident of Massachusetts. You are considered a resident if you lived in MA at least one year prior to the first day of the fall semester and will continue to live in the state during the academic year. Parents of dependent students must meet the same MA residency requirements. In order to receive state aid you must meet all the federal requirements. Please note that the dollar amounts listed are from 2008-2009.

• MASSGrant – You must be a full time student in order to be eligible for this grant (and continue to be enrolled for a minimum of 12 credits at the time of disbursement). Award range is $300 - $900 and your EFC cannot be greater than $4617. The state will send you a tentative letter of award but the STCC Financial Aid Office will certify your eligibility. This award does not usually appear on the STCC Financial Aid Award Letter.
• Part -Time Grant – You must be enrolled for at least 6 credits but not more than 11 credits in order to be eligible for this grant. Your EFC cannot be greater than $4731 and the award range is $200 - $450. The availability of funds is limited to the state allocation of aid to the college.
• Cash Grant – This need-based award cannot exceed the combined costs for tuition and fees. The availability of funds is limited to the state allocation of aid to the college.
• Tuition Waiver – This need based waiver can be used toward tuition (not fees) for day classes only and cannot exceed the total day tuition charges. You cannot receive more than one waiver of tuition per semester; if you are in receipt of a tuition waiver from another source the waiver offered by the FAO will be cancelled.

Please note: The Financial Aid Office reserves the right to adjust your award due to changes in your eligibility or the availability of funds. We reserve the right to cancel aid awarded if you should subsequently become ineligible because of financial misrepresentation or other reasons specified by federal regulations.

TERMS AND CONDITIONS 2009-2010

• The Award Letter- Award letters are based on full time enrollment (12+ credits). At the end of Add/Drop for each semester the Financial Aid Office will verify enrollment status and your financial aid award(s) will be adjusted to reflect those credits.
• Satisfactory Academic Progress- In order to receive financial aid, you must remain in good academic standing and continue making satisfactory progress while pursuing your degree or certificate. The Financial Aid Office will monitor your satisfactory progress and academic standing at the end of each semester. Failure to successfully complete the courses attempted will result in a loss of financial aid. For more information, click Satisfactory Academic Progress.
• Paying the bill- Your financial aid award will automatically be applied towards your bill. Signed authorization is required for using your financial aid to purchase books at the College Bookstore (if eligible), payment of prior year charges, and mandatory health insurance. If your financial aid award is not enough to cover tuition and fees, you are responsible for the balance due.
• Excess Cash- If you have financial aid funds remaining after paying your educational expenses, the excess cash will be disbursed to you. The college begins disbursing student loans after the 30th day in the semester. Aid that does not have to be repaid is generally disbursed after mid-semester grades. Late disbursements occur throughout the year as files are completed and awarded.
• Miscellaneous items- You cannot receive financial aid for a course that you never attended. If you already received funds based on enrollment in a class that you did not attend; you will be responsible for the overpayment.
• You cannot receive financial aid for audited classes or CLEP and Challenge exams.
• You must notify the Financial Aid Office if you change your name, address, or marital status.
• You must notify the Financial Aid Office if you are in receipt of a scholarship or grant from another source. The receipt of additional aid may impact your eligibility for federal or state need based financial aid.
• You cannot receive aid from more than one college at the same time. If you are taking classes at 2 different schools, you can only receive financial aid from one institution.