Types of Financial Aid Programs
For additional information about the federal financial aid programs, including eligibility guidelines, you are encouraged to read Funding Education Beyond High School: The Guide to Federal Student Aid, which is published by the U.S. Department of Education and available from the Campus Financial Aid Services Office. By visiting the Texas Higher Education Board web site at www.collegefortexans.com, you will find valuable information about many forms of state assistance that are available to qualified students.
Grants (Aid that does not have to be repaid)
- Federal Pell Grants are available if you demonstrate financial need within the established federal guidelines. To determine need, the U.S. Department of Education uses a standard formula, established by Congress, to evaluate the information that you and/or your parent provides on the FAFSA. The formula produces an Expected Family Contribution (EFC) that is an indication of how much a family is expected to financially contribute towards the student’s cost of education.
For those students who qualify, the Pell Grant is intended to be the primary award of a student’s financial aid package and is the starting point for financial assistance at San Jacinto College. Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree from any institution. The amount of aid is based upon the number of hours for which the students enroll and the EFC determined by government analysis of the information submitted by the family on the FAFSA. - Federal Supplemental Educational Opportunity Grants (FSEOG) are limited by the availability of funds and is only awarded to undergraduate students with exceptional financial need. Priority is given to students who receive Federal Pell Grants.
- Texas Public Education Grants (TPEG) are authorized by the State of Texas from tuition revenues generated by San Jacinto College. TPEG is available to enrolled students who demonstrate financial need. The amount of the award varies, depending upon the student’s residency, the number of hours in which the student is enrolled, the student's classification, and the availability of funds.
- TEXAS Grants (Toward Excellence, Access and Success) are need-based grants authorized by the State of Texas. To receive consideration, the EFC must not exceed 4000. This grant is available to qualified Texas residents who graduated from a Texas high school on or after May 1998. Students must have completed the Recommended or Advanced high school curriculum, and it must be stamped on the high school transcript, or verified by the high school in writing. Students may continue to receive the award for up to 150 credit hours or six years, whichever comes first, if they stay in college and continue to meet the eligibility requirements. Students must enroll at least three-quarter time (9 hours) within 16 months of high school graduation. To be eligible to receive a renewal grant, the student must be in compliance with satisfactory academic progress requirements and must have successfully completed 24 hours during the calendar year. Students must not have been convicted of a crime involving a controlled substance.
- TEXAS Educational Opportunity Grant (TEOP) is also a need-based grant authorized by the State of Texas. To receive consideration, students must be a Texas resident, be enrolled at least half-time (6 hours) in a certificate or associate degree plan at a two-year institution, demonstrate financial need with an EFC of 2000 or less (as determined by a standard need-analysis process), not have been convicted of a felony or crime involving a controlled substance, not have an associate degree or baccalaureate degree, and not be eligible for a Texas Grant.
NOTE: Students who are transferring to SJC and are eligible to receive a Renewal TEXAS Grant or TEOP must notify the Campus Financial Aid Services Office by October 1st for the fall and by February 1st for the spring, or eligibility to receive consideration will be forfeited.
The Federal Family Education Loan Program (FFELP) provides two types of education loans that are used by many San Jacinto College students and parents. The Federal Stafford Loan is available to undergraduate students, while the Federal Parent Loan for Undergraduate Students (PLUS) is available to parents of undergraduate students. Both loans require that students enroll in a degree program at the half-time (6 hours) level or above. San Jacinto College (SJC) has contracted with Texas Guaranteed Student Loan Corporation (TGSLC), an Austin-based FFELP loan guarantee agency, to facilitate the application process for student and parent borrowers. TGSLC provides an online loan application, customized for SJC borrowers, to help make the loan application process simple and fast.
- The Federal Stafford Student Loan (subsidized) is a low interest, long-term loan available to students who demonstrate financial need. These loans are made available through banks and credit unions. Students are not charged any interest before repayment begins or during authorized periods of deferment. The federal government “subsidizes” the interest during these periods while the students are enrolled at least half-time.
- The Federal Stafford Student Loan (unsubsidized), which is not awarded on the basis of demonstrated financial need, is available to independent students who need additional assistance. Students will be charged interest from the time the loan is disbursed until it is paid in full. If the student allows the interest to accumulate while in school or during periods of nonpayment, it will be capitalized—that is, the interest will be added to the principal amount of the loan, and additional interest will be based upon the higher amount.
- Federal Parent Loans to Undergraduate Students (PLUS) are available to parents, not to exceed the cost of attendance, minus any financial aid awarded to the students. These loans have a higher interest rate, and the borrower is responsible for paying all the interest that accrues.
San Jacinto College utilizes the TG Loans By Web (LBW) student loan application process . TG Loans By Web™ is a fast and accurate way to complete your Entrance Counseling, Stafford Student Loan applications, or Parent Loan for Undergraduate Studies (PLUS) applications and get immediate results for your Plus Credit Check online.
Before you begin there are some things you will need to do
- You must complete a FAFSA application before applying for a loan (http://www.fafsa.ed.gov/), except for a PLUS loan.
- You should print, read and keep a copy of this document for your records.
Before you begin there are some things you will need to know
- You must be enrolled in and attending a minimum of 6 hours in order to receive loans.
- If you have been placed on suspension from financial aid, you are not eligible for loans.
- All requirements for receiving financial aid must be satisfied before you are eligible to receive loans.
- You must complete Entrance Loan Counseling if you have never applied for a loan with San Jacinto College before.
- Loan application deadlines – see chart
- Loans must be repaid.
- You may use any lender that participates in the loan program, or use a lender from our preferred list.
Preferred Lender
CODES
PHONE
LENDER WEBSITES Bank of America 832733 800-835-1161 www.bankofamerica.com/studentloans Compass 828078 800-829-4599 www.compassbank.com/campus COSTEP 833102 800-949-6371 www.costep.org EdAmerica 831453 800-337-1009 www.edamerica.net Franklin Bank 821359 800-813-4372 #2 www.fnb-bcs.com Key Bank 813760 800-236-4300 www.key.com/educate Nellie Mae 829076 800-634-9308 www.nelliemae.org Nelnet, Inc. 833669 888-486-4722 www.nelnet.com Wachovia 830005 800-338-2243 www.wachovia.com/education Wells Fargo 807176 800-658-3567 www.wellsfargo.com/student Woodforest 831929 888-486-4722 www.woodforeststudentloans.com Loan Periods and Disbursement Date - the period for which you are requesting your loan(s)
- Must correspond to the dates listed on the chart below.
- It is to your advantage to request your loan as a Fall/Spring combination loan as opposed to a Fall only or Spring only loan.
- Loan proceeds are not available to pay registration costs.
- Your loan will be released in two or more installments. If you become ineligible to receive your loan disbursement due to dropping below 6 hours or officially or unofficially withdrawing from classes, all future disbursements will be cancelled. You must submit a written request for re-instatement of loan funds for other terms.
- No checks will be released prior to the 30th class day.
- Your loan proceeds check will be mailed to the address on file at the Enrollment Services Office. Please make sure your address is correct.
Summer Part of Term (POT) - is a separate period for financial aid and requires a separate loan application to be completed either during the Spring term or before the Loan App Deadline Dates listed on the chart below .
- Students should not include Summer as part of a Fall and/or Spring loan application.
- POT 3 is not eligible for applying for loans unless enrolling in another POT session for a minimum of 3 hours.
- No loans will disburse until you are actually attending the POT that brings your attendance to 6 hours, provided that the previous POT was successfully completed with a “C” or better.
Loan Periods 2007- 2008
Terms
Period
1st Disbursement
2nd Disbursement
Loan Application Deadline Dates
Fall/ Spring
08/27/2007 – 05/08/2008
9/24/2007
2/11/2008
4/21/2008
Fall Only
08/27/2007 – 12/13/2007
9/24/2007
10/22/2007
11/26/2007
Spring Only
01/14/2008 – 05/08/2008
2/11/2008
3/10/2008
4/21/2008
Summer
05/19/2008 - 08/14/2008
n/a
n/a
7/31/2008
Maximum loan amounts - below are the maximum amounts that you may borrow for a 12 month period. However, depending on your financial need and program of study, you might not be eligible to receive the full amount that you requested. Even if you are eligible for the full amount, consider whether you need to borrow the full amount.
First year student
Dependent student Subsidized/Unsubsidized
Independent student Subsidized/Unsubsidized
(Up to 29 completed hours)**
Two terms (Fall and Spring)
$3,500
$3,500 + $4,000
One term (Fall or Spring)
$1,750
$1,750 + $2,000
Second year student
(30 or more hours completed)**
Two terms (Fall and Spring)
$4,500
$4,500 + $4,000
One term (Fall or Spring)
$2,250
$2,250 + $2,000
** Only hours completed at SJC are used to determine loan eligibility.
Please note - A dependent student, if eligible, may borrow in excess of $3,500 for first-year students and $4,500 for second-year students, only after the parent has applied for and has been denied a PLUS. The additional loan would be an Unsubsidized Stafford Loan not to exceed $4,000.
To Apply for a Loan - Logon to Loans By Web (http://lbw.tgslc.org/)
- Complete entrance loan counseling
- Choose your lender and e-sign
- Complete and submit the loan application
After you have applied for your Stafford Loan
If you did not take advantage of the electronic e-sign offered by Loans By Web at the time that you submitted your loan request, a Master Promissory Note (MPN) must be received by your lender.
- Allow 2 weeks for an MPN packet. The MPN packet will be sent to the mailing address you have provided to the Admissions Office. Please update the information in order to avoid a disruption in the communication flow.
- You will need to sign, date and mail the MPN back to your lender. Your lenders address information will be provided with your packet. You may disregard this packet if you e-signed or already have an MPN on file.
Right 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 the Stafford loan or disbursement. If you wish to exercise your right, please submit a signed written request to the Campus Financial Aid Services Office. The request for cancellation or reduction must be received by the SJC Financial Aid Services Office prior to the loan being disbursed to you. After the loan is disbursed to you, you must return the funds directly to your lender.
The Financial Aid Services Office requests that you check your student record on the SOS website for updates to your financial aid package. Please contact your SJC Campus Financial Aid Services Office if you have questions about your student loans or about other financial aid programs at SJC.
Alternative Loans are a financing option available to students who may require additional funding other than federal loans, grants, and scholarships, to attend school. A student can contact these organizations directly to learn more. An alternative loan, like any other, is required to be repaid. Alternative Loans Lenders
Lender
Code Phone
Type of Loan
SAP
˝ TIME
824421 800-344-8382 #2
Undergraduate Loan
Y
Y
503000 866-306-0868
Chase Select
N*
N*
900905 888-272-4665
Signature Loan**
N*
Y
500000 800-236-4300
Key Alternative Career Loan
Y
Y
191 800-837-4326
N*
Y
812089 800-242-3062 #6404
College Access Loan / Health Education (HELP)
Y
Y
830005 800-347-7667
Wachovia Education Loan
N*
Y
*Students do not need to meet the San Jacinto College Academic Requirements for Receiving Financial Aid (Satisfactory Academic Progress—SAP) or be enrolled in a minimum of 6 hours to qualify for these loans. ** Sallie Mae's Signature Loans and Career Training Loans both have a $15,000 cap. The signature loans can be applied for through TG's Loans by Web.
Flight Loans are available for Aviation students. Students may obtain a flight loan for only one flight course during the fall, spring, or summer registration periods and class changes. This loan is only available for one flight course per term. Students are required to pay 50% of the flight fee on the day the loan is approved. Students may qualify for an installment payment plan for your lecture course fees. The College assesses a $25.00 service fee, which is due with the first payment. A late fee is not assessed with this loan. Students may apply for this loan only at the Central Campus Financial Aid Services Office, and all payments are accepted only at the Central Campus Business Office. The loan must be paid in full prior to the approval of another flight loan. This loan will be due at the end of a 12-month period. This flight loan can only be obtained for the flight school contracted with the San Jacinto College District. More detailed information is available from the Central Campus Financial Aid Services Office at 281.998.6150. Scholarships (Aid that does not have to be repaid)
A variety of scholarships, many funded through The San Jacinto College Foundation, are available from both institutional and private sources. Scholarship selection criteria may be based on demonstrated need, academic merit, or other specific qualifications, depending on the funding source. The funding source also determines the amount of the scholarship award. Applications for applying for Fall Term 2006 scholarships are due by June 16, 2006. Applications for Spring Term 2007 scholarships are due by October 15, 2006. For additional information and a scholarship application, students are encouraged to contact the Campus Financial Aid Office well in advance of these dates.
Employment (Aid that must be earned)
- You must inform SJC that you want to participate in the Federal Work Study (FWS) program by responding appropriately to question 26 on the FAFSA.
- Federal Work Study (FWS) is a federal work program that provides part-time on-campus employment to students who demonstrate financial need. FWS students earn at least $7.00 per hour, (many jobs pay more) and may work up to 19.5 hours per week. Information regarding employment opportunities for students eligible for Federal Work Study can be obtained at each campus Career and Employment Center. It is important to remember, an offer of FWS does not guarantee job placement and jobs are limited.
- Part-time employment is available through various departments and/or the Career and Employment Center. Students should contact the appropriate campus office for additional information.
