Financial Aid FAQ’s
1. What forms do I need to complete to apply for financial aid?
Complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. CFCC will request additional information/forms at a later date if required.
2. How often do I apply?
The FAFSA is valid for one year only, so it is necessary to reapply each year. It is suggested that students complete their FAFSA for the new year as soon as they complete their taxes.
3. Do I need to be admitted before I can apply for financial aid?
No, you can apply for Financial Aid anytime after January 1, however, you need to complete the admissions applications before we can begin reviewing your financial aid. You also must be admitted into an eligible program before CFCC will notify you of your aid eligibility. See the “General Info” tab for programs NOT eligible for aid.
4. Is it best to wait until the income tax forms have been completed before submitting the FAFSA?
It is permissible to use estimates of your income tax data as long as they aren’t far off from actual values; however, you cannot be awarded until your FAFSA is updated with the correct information.
5. What is the FAFSA school code for Cape Fear Community College?
6. What is the deadline to apply for financial aid?
It is recommended that you submit your FAFSA prior to March 15. Although there is no specific deadline, the earlier you apply, the earlier we will be able to notify you of your financial aid eligibility.
7. I probably don’t qualify for aid. Should I apply anyway?
Yes. Many families mistakenly think they don’t qualify for aid. There are a few sources of aid, such as the unsubsidized Stafford and PLUS loans that are available regardless of need.
8. What is the maximum family income cutoff for financial aid eligibility?
There is no specific cutoff. Each family’s financial situation is different.
9. What factors are considered in determining financial need?
Several variables, such as family size, number of family members in college, age of older parent, and income and asset information are included in the calculation of a student’s financial need.
10. Do I need a separate application for a student loan? For a parent loan?
Yes. Please see the Loan Programs tab on the financial aid home page.
11. What if my family’s circumstances change after I submit the FAFSA?
If your situation changes because of unusual circumstances after submitting the FAFSA, contact the Office of Financial Aid. We may request you submit an appeal with appropriate supporting documentation for review.
12. Is there aid available for summer session and how do I apply?
At CFCC, summer session is treated as the “trailing” semester of the academic year, i.e., summer 2013 is the end of the 2012-13 academic year. You may be eligible for financial aid if you did not use your entire eligibility during the previous fall and spring semesters. To apply, submit the appropriate year’s FAFSA, i.e., a 2013-14 FAFSA for consideration for summer 2013 funding.
13. Can part-time students receive financial aid?
Yes, however a student must be enrolled at least half-time (6 credit hours each semester) to be eligible for student loans. Classes must be in your program of study.
14. How do I apply for a CFCC scholarship?
Scholarship applications must be submitted annually by clicking the scholarship link on our homepage. Our preferred filing deadline is August 31.
15. I received an outside scholarship. Should I report it to the Office of Financial Aid?
Yes. It may be necessary to reduce your financial aid if an outside scholarship arrives after our aid offer.
16. What will happen to my financial aid award if I drop a course or withdraw from CFCC?
If your tuition is adjusted because you drop a course, it may be necessary to reduce your financial aid. If you totally withdraw from CFCC during the first 60 percent of the semester, your financial aid will be reduced.
Dropping courses and withdrawing are academic actions that might seriously affect your future aid eligibility because of failure to maintain satisfactory academic progress. It is your responsibility to fully understand the implications of such decisions.
17. What are the requirements for Satisfactory Academic Progress for Financial Aid?
Financial aid recipients must meet both a “qualitative” and a “quantitative” standard to maintain eligibility for financial aid. Students must maintain a cumulative 2.0 grade point average (GPA) to meet the qualitative standard. Students must also successfully complete 67 percent of all credits in which they enroll to meet the quantitative standard.