How students apply for financial aid and how eligibility is determined:
Students can apply for financial aid before they apply for admission to the Terra
State; however, students must be admitted as a regular student in an eligible program
of study in order to be offered financial aid.
The 2023-2024 Free Application for Federal Student Aid (FAFSA) can be filed beginning
October 1, 2023, using 2021 federal income tax information. Use Terra State School Code 008278.
After filing your FAFSA, you will receive a Student Aid Report (SAR) listing all the
information you provided in the online application. Your Expected Family Contribution
(EFC) will be included in the SAR. The Office of Student Financial Aid will calculate
your estimated Cost of Attendance (COA). Your EFC is subtracted from your COA to determine
your eligibility for need-based aid.
Please review your SAR for accuracy and make any necessary corrections online. Contact
the U.S. Department of Education if you do not receive your SAR or have questions
regarding your SAR. For more information regarding the FAFSA visit theU.S. Department of Education.
To Qualify for Federal Student Aid (grants, loans, and work-study funds), you have
to meet certain requirements.
General eligibility requirements
Demonstrate financial need (for most programs)
Be a U.S. citizen or an eligible noncitizen
Have a valid Social Security number (with the exception of students from the Republic
of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau)
Be registered with Selective Service, if you’re a male (you must register between
the ages of 18 and 25)
Be enrolled or accepted for enrollment as a regular student in an eligible degree
or certificate program
Be enrolled at least half time to be eligible for Direct Loan Program funds
Maintain satisfactory academic progress in college or career school
Sign the certification statement on the Free Application for Federal Student Aid (FAFSA®)
stating that you are not in default on a federal student loan and do not owe money
on a federal student grant and you will use federal student aid only for educational
Show you’re qualified to obtain a college or career school education by having a high
school diploma or a recognized equivalent such as a General Educational Development
(GED) certificate or completing a high school education in a homeschool setting approved
under state law (or—if state law does not require a homeschooled student to obtain
a completion credential—completing a high school education in a homeschool setting
that qualifies as an exemption from compulsory attendance requirements under state
Federal PELL Grant
The PELL amount you get, though, will depend on:
your financial need
your cost of attendance
your cost of attendance
your plans to attend school for a full academic year or less
You may not receive Federal PELL Grant funds from more than one school at a time.
How is the "equivalent of six years" calculated? Visitstudentaid.ed.gov to learn how.
How can I see my PELL Lifetime Eligibility Used percentage?
You can log on to National Student Loan Data System (NSLDS) Student Access Web site
using your FSA ID and view your Lifetime Eligibility Used (LEU). The LEU will be found
on the Financial Aid Review page.
Amounts can change yearly
2015-2016 award year (July 1, 2016 to June 30, 2017) the Maximum yearly award can
be up to $5,775 for full-time enrollment (12 credits)
2016-2017 award year (July 1, 2017 to June 30, 2018) the Maximum yearly award can
be up to $5,815 for full-time enrollment (12 credits)
Federal Supplemental Educational Opportunity Grants (FSEOG)
How do I qualify?
Demonstrate exceptional financial need
Federal Work-Study (FWS)
How do I qualify?
Demonstrate financial need
Be enrolled at least half-time (6 credits)
If you decide to accept a loan, make sure you understand the loan and the terms and
conditions of the loan. For more information,studentaid.ed.gov.
New borrowers in the Federal Direct Loan program are required to complete an Electronic
Master Promissory Note and Direct Loan Entrance Counseling session. You may complete
both of these requirements on-line by accessing your personal financial aid information
and following the instructions provided through Banner Self Service or directly access
the Direct Loan Servicing Center atstudentloans.gov.
How Eligibility for Student Financial Aid is Calculated
Calculating your eligibility for financial aid begins with determining your cost of
attendance. Because actual costs will vary from student to student, the Office of
Student Financial Aid uses average costs.
The cost of attendance structure is first based on your anticipated place of residence
for the award year (e.g., commuting from the home of a parent or guardian; or off-campus
home or apartment). Then other factors, such as state residency, are taken into consideration.
Once the above has been determined, you are assigned a cost of attendance. Your cost
of attendance contains both direct and indirect educational costs. Direct costs include
Terra State Community College charges for instructional and general fees (based on
a minimum of 12 credit hours of enrollment for fall and spring semesters), and the
non-resident fee, when applicable. Indirect costs include books and supplies, transportation
costs, personal expenses, and off-campus room and board costs. Keep in mind that average
costs are used to determine eligibility and that your actual costs (particularly indirect
costs) may be different.
If you feel you have extenuating circumstances which could affect your cost of attendance,
you should contact the Office of Student Financial Aid and discuss your situation
with a staff member. Before changes are made, supporting documentation will be required.
Expected Family Contribution (EFC)
Your EFC is based on the data you provided on your Free Application for Federal Student
Aid (FAFSA). FAFSA data is analyzed using a federally-mandated formula which considers
the student and parent taxable and non-taxable income, assets, taxes paid, the size
of your household and the number of family members (not including parents) in college.
Other Student Resources
If you are receiving private scholarships, fee waivers, proceeds from a prepaid tuition
program or educational assistance from an external agency, these resources must be
included when determining your financial need.
Since you are the primary beneficiary of your college education, a fundamental premise
associated with need-based financial aid is that you and, if you are dependent, your
parents have the first responsibility to pay for your college education. Therefore,
when determining your level of financial need, we begin with your estimated cost of
attendance (see above) and subtract your EFC and other student resources from it.
If the resulting calculation is a positive figure, then you are considered to have
financial need. The Office of Student Financial Aid attempts to meet your financial
need by providing access to federal, state, and institutional funds.
If your combined EFC and other resources are higher than the estimated cost figure,
you are not eligible for need-based aid, but may qualify for low-interest educational
loans. Employment is another source of funds to assist you in paying your school expenses.
Financial Aid Packaging
If you are eligible and aid funds are available, you will receive a "package" composed
of funds from different sources. These funds are combined with your resources in an
attempt to meet your financial need. The types and amounts of financial aid in your
package are limited by regulatory maximums, your academic class status (freshman or
sophomore), grade point average, fund availability, your enrollment status (full-
or part-time), and your level of need. Keep in mind that your financial aid package
may change as a result of new application data, the verification process, changes
in your enrollment status, or office error.
Following the receipt of your FAFSA results, a financial aid "package" will be offered
to you. The financial aid package will contain one or a combination of grants, scholarships,
loans, and/or work study. Grants and scholarships are sources of student financial
aid which are available for education expenses with no requirement to repay. Student
loans are the most common source of student financial aid and must be repaid. Students
receiving a loan are required to complete entrance counseling and sign a master promissory
note which details the conditions of the loan. Finally, you may receive work study
eligibility which requires that you be enrolled for at least six credit hours and
secure a job before receiving funds.
Criteria for selecting recipients for financial aid awards vary.
Federal loans, Federal Pell Grant, and State programs are awarded to students who
meet eligibility requirements specific to each of those programs.
FSEOG and Federal Work-Study are subject to funding limitations. FSEOG awards are
made through an automated selection process. Award amounts will depend on annual funding
Additional information about applying for and receiving federal student aid may be
found on the U.S. Department of Education's website https://studentaid.gov.
Scholarships from Terra College Foundation have funding limitations and are awarded
through a selection process based on required award-specific criteria.
Changes in your Financial Aid Packaging
Based on a change in your eligibility, your enrollment, or an office or agency error,
your aid may be revised at any time. If your financial aid has already been credited
to your student account, you may be responsible for partial or full repayment of the
funds, regardless of the reason for the adjustment.
Financial aid is contingent upon many factors, including availability of federal,
state, and institutional funding.
The Office of Student Financial Aid has the right to review, adjust, and cancel a
financial aid award at any time due to changes in your financial or academic status
or your failure to provide requested documentation.
As required by federal, state and institutional guidelines, revision of your aid package
may occur if:
Your aid was based on inaccurate or false information (including estimated income
data or grade level).
The Office of Student Financial Aid or another agency made an error in determining
your eligibility for, or disbursement of, your financial aid awards.
The amount of financial aid awarded to you exceeds your calculated financial need.
You do not maintain satisfactory academic progress.
You fail to meet enrollment, grade point average, participation, or other requirements
required by a specific award.
You drop classes or withdraw from Terra State Community College.
You were selected for verification and the completion of the verification process
changes your eligibility. The Office of Student Financial Aid must check the accuracy
of the data you report on your FAFSA.
Repeat Coursework and Financial Aid Enrollment
Financial aid may be awarded for unlimited repeats of failed courses (SAP policy still
Financial aid may be awarded for one repeat of a passed course.