FAQ: Financial Aid - Award Information & Cost of Attendance

     Student Central FAQ: Financial Aid - Award Information & Cost of Attendance   

  

Question: For what kind of aid am I or am I not eligible and why?

Answer: There various factors that decide aid eligibility. To ensure you maximize your eligible aid, ensure you've done the following:

  • Complete the FAFSA in a timely manner. The FAFSA takes three (3) days to process.
  • Confirm the program you're interested in enrolling.
  • Ensure CCBC's school code (002063) was added when completing the FAFSA.
  • Review your SIMON for updates on any award information.
  • Complete the CCBC FundME application to maximize any additional awards from CCBC
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Answer:

Question: What is my annual limit for loans?

Answer: Limits depend on your year in school, enrollment status, and dependency status.

CCBC Staff Resource: (Handout)

Question: What is my lifetime limit for loans?

Answer: The lifetime limit for loans is as follows:

  • Independent undergrad: $57,500 total, with $23,000 subsidized and $34,500 unsubsidized.
  • Dependent undergrad: $31,000 total, with $23,000 subsidized and $8,000 unsubsidized.
Question: What is the lifetime limit for Pell Grants?

Answer:  You have 600% eligibility, equivalent to 6 years of full-time study.

Question: What are the terms of loans (student/PLUS)?

Answer: Carefully read the Master Promissory Note (MPN) and complete entrance counselling.

Question: How/when are loans repaid?

Answer: Timing of loan repayment is important:

  • Six (6) months after your last date of attendance (not graduation date)
  • If you drop below half time (6 credits), you have 6 months from that date to begin repayment
Question: What are the minimum/maximum enrollment requirements for particular awards?

Answer: There are a number of requirements to consider:

  • You must be enrolled in a minimum of six (6) credits for loads
  • No enrollment limit for Pell Grants - prorated per credit based on eligibility
  • No enrollment limit for Baltimore County College Promise
  • State Grants - Refer to MHEC website for award requirements and to accept awards. State grants factor into the Cost of Attendance (CoA). Your award will adjust based on cost of attendance for each institution.
    • Educational Assistance (EA) Grant
    • Guaranteed Access (GA) Grant
    • Maryland Promise
    • Maryland Part-Time Grants

CCBC Staff note: For a specific scholarship, refer to the Financial Aid Office for enrollment requirements

Question: Can I increase, decrease, or cancel my loan(s)

Answer: It depends. We'll need to check to see if you've been offered loans and if so, how much. Either way, we'll need to connect you with the Financial Aid office to complete a Loan Change Form.

CCBC Staff Note: This requires an escalation to the Financial Aid Office.

Question: When will my award disburse?

Answer: Disbursement occurs after the third week of classes (after the drop/add period).

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