Types of Aid

Types of Financial Aid

FAFSA CODE 003609San Jacinto College has many types of financial aid, from outright gifts that you never have to pay back, to low-interest loans with student-friendly terms, to on-campus employment programs that let you work your way through school, and to scholarships available in the Houston area. If for some reason you aren’t qualified for one form of aid, don’t despair. You have options. And you have us. We’ll help you identify everything that’s available to you.

Financial Aid

Grants are a gift – they don’t have to be paid back. They’re awarded based on need, and several types are available.

Federal Pell Grants use a standard formula set by Congress to determine your level of need. The formula produces an Expected Family Contribution (EFC), the amount your family should pay toward the cost of your education. The amount of aid you get is based on your EFC and the number of college hours you’re taking. Pell Grants are awarded only to undergraduate students who haven’t already earned a bachelor’s or professional degree. If you qualify, this would be the primary part of your financial aid package. If you enrolled in less than 12 hours either during the Fall and Spring terms, you may have Pell eligibility for the summer term.

Pell grant will only pay for one repeat class if it was passed with a grade of D or better.

Effective with the 2012-13 award year, if you have attended full time for at least 12 semesters, you may not be eligible for further Pell funding.

Federal Supplemental Educational Opportunity Grants (FSEOG) are given based on the availability of funds and are only awarded to undergraduate students with exceptional financial need. Priority is given to students who receive Federal Pell Grants.

SEOG will only pay for one repeat class if it was passed with a grade of D or better.

Texas Public Education Grants (TPEG) are funded from tuition revenues generated by San Jacinto College and awarded to students who demonstrate financial need. The amount given depends on your residency, the number of hours you’re taking, your student classification, and the availability of funds. TPEG is available for SB 1528 Undocumented, Dual Credit, International, and Continuing Education Students.

To be considered for SB 1528 Undocumented funds: you must graduate from a Texas public or private high school or received the equivalent of a high school diploma or GED in Texas, you must have resided in Texas for at least three consecutive years prior to earning your high school diploma or equivalent, and you must provide to the campus enrollment services office an affidavit that you will file to become a permanent resident at the earliest opportunity you are eligible to do so.

If you're in high school and enroll in dual credit classes, you may apply for a TPEG to cover your share of the tuition and fees. You must complete the TASFA or a paper version of the FAFSA and submit income documents along with your TPEG dual credit application at one of our campus Financial Aid Offices.

If you're an international student, you must complete the TASFA and submit income documents along with your TPEG Foreign Student Application to your International Student Counselor in our Educational Planning and Counseling Office.

If you're in certain continuing education classes, you may apply for a TPEG. You must complete the TASFA and submit income documents along with your TPEG CPD Application to one of our campus Financial Aid Offices.

TPEG will only pay for one repeat class if it was passed with a grade of D or better.

TEXAS Grants (Toward Excellence, Access and Success) are need-based grants authorized by the state for students. It’s available to qualified Texas residents who have graduated from a Texas high school since May 1998. To qualify, you must complete the recommended or advanced high school curriculum, and it must be stamped on your high school transcript, or verified by the high school, in writing. You must also be enrolled in at least 9 semester credit hours. As long as you stay in compliance you can get renewal grants for up to five years from the start of the semester in which you received the award or within 90 attempted credit hours at SJC.

TEXAS Grant will only pay for one repeat class if it was passed with a grade of D or better.

TEXAS Educational Opportunity Grant (TEOG) is also a need-based grant for Texas residents who are not eligible for a Texas Grant. To qualify you must be taking at least six credit hours, have an EFC below 4800, be free of felony and controlled substance convictions and not already have a college degree. Eligibility for TEOG ends with the first of: 4 years from the start of the semester in which you received the award, 75 total attempted semester credit hours, or have acquired an associate degree.

TEOG will only pay for one repeat class if it was passed with a grade of D or better.

By the way, if you’re transferring to San Jac and are eligible for a Renewal TEXAS Grant or TEOG, make sure to notify our Financial Aid Office by October 1st for the fall term and by February 1st for the spring, so you don’t miss your chance for consideration.

Please Note:

You can only receive grants at one school during a term. You should consider accepting your financial aid at the school where you will enroll for the majority of your classes.

Students who are considered transient students are not eligible for aid with SJC. For example, if you are working towards a degree with another school and attend there in the fall and spring terms and only attend SJC in the summer for transfer, you are not eligible for an award with SJC.

If you anticipate receiving other assistance such as scholarships/grants (not awarded by SJC Financial Aid Services) or Veteran benefits, please notify the Financial Aid Services Office. Failure to supply this information could result in an immediate reduction or cancellation of any aid offered or disbursed.

Federal Student Loans

Direct Stafford Loans, from the William D. Ford Federal Direct Loan (DL) Program, are low-interest loans for eligible students to help cover the cost of higher education. The William D. Ford Direct Loan program will serve as your lender and servicer for the life of the loan. This program allows students to borrow loan funds directly from the Federal Government. If you were a borrower under the previous FFEL Program, your existing entrance counseling session and Master Promissory Note (MPN) do not apply to Direct Loans. You will need to complete a new entrance counseling and to sign a new MPN with the Direct Loan program.

Applying for a Loan

First Step - Complete the Free Application for Federal Student Aid (FAFSA). Please note, you must complete a new FAFSA for each school year. The school year begins with the fall semester and ends with the summer semester.

Second Step - Complete the Entrance Counseling by logging on to studentloans.gov and selecting “Complete Entrance Counseling” (Please choose undergraduate counseling type.)

Third Step - Sign the Master Promissory Note (MPN) by logging on to studentloans.gov and selecting “Complete Master Promissory Note” (Please choose subsidized/unsubsidized option.) You are encouraged to download or print a copy of your MPN for your records.

Fourth Step - If you are requesting a PLUS loan, please log on to studentloans.gov and select “Request a PLUS Loan” then “Parent PLUS” loan type. If you are requesting a Direct Subsidized or Unsubsidized Loan for the fall and spring terms of the 2014-15 school year, please submit the 2014-15 Fall-Spring Direct Loan Request Form. Effective Fall 2014, if you have not previously borrowed with San Jacinto College, you will need to complete a Student Budget Worksheet and Federal Student Loan Checklist and submit both with your loan request form. The checklist will be provided to you at the campus office. All loan request forms must be submitted in-person to one of our financial aid offices.

Remember, you must be enrolled and attending half-time (6 semester credit hours) for your loan to authorize or disburse.

The William D. Ford Direct Loan Program (DL) provides the most common types of loans:

Subsidized Direct Student Loans are low interest, long-term loans funded by the federal government for students who demonstrate financial need. You are not charged interest before repayment begins or during authorized deferment periods. The government “subsidizes” the interest while you’re enrolled at least half-time, which is six credit hours.

Beginning with the 2013-14 award year, there are new regulations from the Dept. of Education that may affect your subsidized loan eligibility. This regulation applies to subsidized (not unsubsidized or PLUS) loans disbursed to first-time borrowers on or after July 1, 2013. First-time borrowers are defined uniquely for the new 150% rule: you have no outstanding balance of principal or interest on a loan OR if you have previously received loans, they are paid in full. If you are a first-time borrower under this law, you are only eligible for the subsidized loan for a period of 150% of the published program. Click here for more details on this law or you may review your entrance counseling in studentloans.gov.

Unsubsidized Direct Student Loans are available to students who need additional assistance, and you don’t have to demonstrate financial need to get one. These loans charge interest immediately until they’re paid off.

Parent Loans to Undergraduate Students (PLUS) is a credit based loan that is available to parents, not to exceed the cost of attendance, minus any other financial aid awarded to the students. These loans are only available to parents of dependent students. If your parents are denied a PLUS loan, you can exceed annual dependent loan maximums by up to $4,000 through an Unsubsidized Stafford Loan; however, you must do so by submitting an additional loan request.

Effective with the Fall 2011 term, Direct Loans will only pay for one repeat class if it was passed with a grade of D or better.

**Please note that San Jac does not originate Grad PLUS Loans**

Loan periods and Direct Loan disbursements

Loan funds are authorized to your account to pay tuition, fees, and bookstore charges. The balance of loan funds (after tuition, fees, and books are paid) are released 30 calendar days after classes start and are paid in two or more installments called disbursements.

San Jacinto College has a new policy for refunding financial aid after your outstanding charges to the College are paid. You may receive your financial aid refund in a single deposit to your San Jac Card approximately 30 days after the start of the term or you may receive your financial aid refund deposits to your San Jac Card approximately every two weeks through a program called Aid Like A Paycheck, starting as early as three weeks into the term and continuing throughout the semester. Your total expected financial aid amount will be the same regardless of when you are scheduled to receive your refund deposits. If you are selected to participate in the study, you will be notified and informed via email of which disbursement method you will receive your financial aid refund through. For more information on this test, visit the Aid Like A Paycheck webpage on our website.

Please see chart below for approximate dates of standard loan disbursements. All students are encouraged to review details about their individual disbursement schedule in SOS.

For your loan to authorize or disburse, you need to be enrolled and attending six credit hours or more. If you are registered for parts of term, your loan will not disburse until you reach six credit hours.

Due to federal regulations, first-time borrowers are not disbursed loan funds until 30 days after the start of the term. First-time borrowers are defined as students who are within their first year (have completed 29 hours or less including transfer work) and who have not previously received a loan award at either SJC or another school.

Loan Period 2013-2014

Terms

Period

1st Disbursement

2nd Disbursement

Loan Application Deadline Dates

Fall / Spring

8/26/13- 5/9/14

9/18/2013

2/5/2014

4/25/2014

Spring Only

1/13/14- 5/9/14

2/5/2014

3/17/2014

4/25/2014

Summer

6/2/14 - 8/8/14

6/24/2014

7/7/2014

7/25/2014

 

Loan Period 2014-2015

Terms

Period

1st Disbursement

2nd Disbursement

Loan Application Deadline Dates

Fall / Spring

8/25/14 - 5/15/15

9/16/2014

2/10/2015

4/24/2015

Spring Only

1/19/15 - 5/15/15

2/10/2015

4/6/2015

4/24/2015

Summer

6/8/15 - 8/13/15

6/30/2015

7/21/2015

7/24/2015

 

2014-2015 Aid Like a Paycheck Disbursement Schedule

Terms

1st

2nd

3rd

4th

5th

6th

7th

Fall 2014

9/9/2014

9/23/2014

10/7/2014

10/21/2014

11/4/2014

11/18/2014

12/2/2014

Spring 2015

2/3/2015

2/17/2015

3/3/2015

3/24/2015

4/7/2015

4/21/2015

5/5/2015

 

(Note: Aid Like A Paycheck does not disburse every two weeks during the summer term. For the summer term, participants will be on the standard disbursement schedule.)

 

Summer Loans

The summer term counts as a separate period for financial aid and requires a separate loan application. Remember, just like loans for fall and spring, you have to be taking at least six credit hours to be eligible. So if you’re taking three hours for the first part of the summer and another three hours for the second part, eligibility kicks in when you’re taking the second part.

If you received the maximum loans during the Fall and Spring terms, additional loans are not available unless you advanced a grade level.

Maximum loan amounts

The annual maximum amounts you may borrow are as follows:

  • $5,500 for a first-year, dependent student
  • $6,500 for a second-year, dependent student
  • $9,500 for a first-year, independent student
  • $10,500 for a second-year, independent student

In addition to annual borrowing limits, loans also have aggregate limits:

  • $31,000 total of subsidized and unsubsidized limit for dependent students - No more than $23,000 of this amount may be subsidized
  • $57,500 total of subsidized and unsubsidized limit for independent students - No more than $23,000 of this amount may be subsidized

Your financial need and program of study determines how much of this you’re eligible for. Because loans are a type of aid that must be repaid, we recommend only borrowing what you need. If your parents are denied a PLUS loan, you can exceed these maximums by up to $4,000 through an Unsubsidized Stafford Loan; however, you must do so by submitting an additional loan request.

The following table defines first and second-year students as well as eligibility by loan periods:

Terms

Dependent student Subsidized+Unsubsidized

Independent student Subsidized+Unsubsidized

First-Year Student (Up to 29 completed hours – transfer hours included)

Two terms (Fall and Spring)

$3,500 + 2000

$3,500 + $6,000

One term (Fall, Spring or Summer)

$1,750 + 1000

$1,750 + $3,000

Second-Year Student (30 or more hours completed – transfer hours included)

Two terms (Fall and Spring)

$4,500 +2000

$4,500 + $6,000

One term (Fall, Spring or Summer)

$2,250 +1000

$2,250 + $3,000

 

 

How to cancel or reduce loan proceeds

You (or your parent in the case of a PLUS loan) have the right to cancel all or part of a Stafford loan. All you do is submit a signed written request to your campus Financial Aid Services Office.

Alternative loans

If you need additional loan funding, below is a list of lenders who have conducted business with San Jacinto College within the last 5 years. These lenders utilize electronic processing compatible with SJC’s financial aid management system ensuring consistent and timely delivery of loan funds. This is not a complete list of all lenders, the choice of lenders is yours to make.

Alternative loans operate on a different disbursement schedule and are subject to different requirements than Direct Loans. Once your alternative loan has been certified by SJC, it is subject to a rescission period that may be up to 14 days depending on your lender. The rescission period is determined by the lender. If the loan has been certified and the rescission period has been met, you can expect a disbursement from your alternative loan as early as 12 class days from the start of the term known as the census date. If you are an aviation student and the loan has been certified by SJC and has met the rescission period, you can expect a disbursement as early as the first day of class.

 

 

Lender

Code

Phone

Type

SAP

1/2 Time

Chase

503000

866-306-0868

Chase Select

N

N

Sallie Mae

900905

888-272-4665

Smart Option

N

N

TX Higher Ed Coordinating Board

812089

800-242-3062 #6404

College Access Loan

Y

Y

Wells Fargo

807176

877-699-5444

Collegiate Loan

N

N

 

 

***Please remember that loans must be repaid***

If you still have questions regarding Direct Loans or you need any other financial aid information, please visit your campus Financial Aid Services Office.

Please note: Students who are considered transient students are not eligible for aid with SJC. For example, if you are working towards a degree with another school and attend there in the fall and spring terms and only attend SJC in the summer for transfer, you are not eligible for an award with SJC.

Like grants, scholarships don’t have to be paid back. They’re given for financial need, academic merit and many other special criteria. Scholarships are available from a wide variety of sources, and many are reserved specifically for our students through the San Jacinto College Foundation. This non-profit organization exists to boost the excellence and achievement of San Jac students. You could be the next.

Apply online

Visit the Foundation Website

Here are more sources for scholarship information:

Visit the College for all Texans website

Visit the Fastweb website

Visit the CollegeNet website

Visit the Harris County Medical Society Alliance - Nursing Scholarship website

Visit the Hispanic Association of Colleges and Universities (HACU) website

Visit HACU's list of other scholarships

Visit the Hispanic Scholarship Fund website

Visit the Scholarships.com website

Visit the TG website

Visit the Federal Student Aid website

Visit the Sallie Mae Scholarship Search website

You can supplement your financial aid package by working part-time on campus through the Federal Work-Study or Texas Work-Study programs. If you are interested in a Work Study position, please contact a campus Financial Aid Services office. They will assist you in determining eligibility for this award. Also, please be sure to show your interest on question 31 of the FAFSA-Are you interested in Federal Work Study?

For a listing of jobs, please visit the SJC Career Connections site or contact one of our Career and Employment Centers. Jobs are limited, so please visit the site frequently to see what positions are available.