If the student is eligible for financial aid, he/she will receive the following:
Financial aid award letter
A student can receive financial aid from one source or from a combination of sources. The financial aid programs from which the student is awarded depends on the results of the Free Application for Federal Student Aid (FAFSA) and the availability of funds to award to students. The award letter also provides the following information:
a. The type and source of aid awarded
b. The amount of aid awarded, each semester, based on the number of credit hours for which the student is registered
c. The terms and conditions to receive financial aid, including making satisfactory academic progress
d. The impact of dropping classes after financial aid is received
The student also receives a cover letter with the award letter, which explains the financial aid programs from which he/she is awarded and requirements to receive the aid (i.e. enrollment status, etc.)
If the student is awarded a Federal Direct Stafford Loan and/or Federal College Work-study award, he/she is required to return the award letter to the Financial Aid Office, indicating whether he/she wants to accept or decline the award. The awards will not be finalized until the award letter is returned by the student.
Financial aid recipients should also be aware of their rights and responsibilities as a student at Macomb Community College.
If the student is not eligible for financial aid, he/she will receive one of the following notifications:
No need/No Funds
The student does not qualify for need-based financial aid, based on the results of the FAFSA or there are no funds available to award to the student. The student may be eligible to borrow a Federal Direct Stafford Loan by submitting the Federal Direct Stafford Loan Request Form. Students should review the loan policy to be sure they meet the eligibility requirements before submitting a loan request.
No Need/Not Eligible
The student does not qualify for need-based financial aid, based on the results of the FAFSA, and the student is not eligible to borrow a Federal Direct Stafford Loan. This is because the student has either borrowed in excess of the cumulative loan limits based on Macomb Community College’s loan policy, or has a grade point average less than 2.0. The student can apply for an alternative loan through a private bank to help pay educational costs.
Overpayment/Default
The student is either in default on a federal Title IV student loan or has an overpayment of federal grant funds. If the student has already been awarded financial aid, the awards will be cancelled and the student will owe tuition.
Drug Conviction/Not Eligible
Based on federal regulations, the student is not eligible for financial aid due to a drug-related conviction.
Exceeded Loan Limits
The student is not eligible for financial aid due to being close to or exceeding the federally-mandated aggregate loan limits for the Federal Stafford Loan program.
Guest Student/Not Eligible
The student is not eligible for financial aid because he/she is a guest student. Guest students can only receive financial aid from the college/university that is granting their degree to them.