1. How do I
apply and when?
2. What happens after I apply?
3. What is the Federal School Code for Manhattan Area Technical
College?
4. What is a PIN number and do I need one?
5. How long does the financial aid process take?
6. What is verification?
7. What does EFC mean?
8. Can I transfer my Financial Aid from one school to another?
9. Can I receive Financial Aid from more than one school?
10. What does Cost of Attendance mean?
11. How does the technical college decide how much money
I will receive?
12. Do I have to be enrolled in a certain number of hours
to receive financial aid at Manhattan Area Technical College?
13. I don't live with my parents and they do not help
me financially, why do I have to apply for financial aid using my parent's
income and asset information?
14. If I am eligible for aid, when do I receive funds
and where?
15. What should I do if my or my family's financial circumstances
change after I apply for financial aid?
To complete an electronic Free Application for Federal Student Aid (FAFSA) simply go to www.fafsa.ed.gov. You can complete your FAFSA anytime after January 1. The paper version of the FAFSA is available through MATC or your high school counselor.
The FAFSA will determine your eligibility for all Title IV Aid (Federal Pell Grant, Federal SEOG Grant, Federal Stafford Student Loans and Federal Work Study). Not all aid is based on need. Consequently, everyone can be eligible for some type of loan.
FAFSA Deadlines:
" January 1 is the first day a student can submit a FAFSA application
for the following academic year.
Even though MATC does not have
a priority deadline, you should complete your
FAFSA as early as possible.
2. What happens after I apply?
After you submit your FAFSA, the federal processor performs an initial eligibility check and calculates need levels on the information provided. You will receive confirmation in the form of a Student Aid Report (SAR) from the federal processor and your information will be forwarded to the MATC Financial Aid Office electronically for additional eligibility checks. The MATC Financial Assistance Office will contact you if further information is needed.
3. What is the Federal School Code for Manhattan
Area Technical College?
In order to supply a student's FAFSA information to an institution, the Federal Processor uses a six-digit number called a Title IV Federal Code. The school code for MATC is 005500.
4. What is a PIN number and do I need one?
A PIN is your Personal Identification Number and is needed to sign your FAFSA electronically. You can request a PIN at www.pin.ed.gov. If you are required to include your parent(s) information on the FAFSA, the parent signing the FAFSA will also need a PIN. You should retain your PIN information. The PIN does not expire and can be used each year when you complete your FAFSA.
5. How long does the financial aid process take?
Because every student's situation is different, processing time will vary. A few of the factors that can effect processing time are: if a student is selected for verification, how quickly all requested documents are submitted to our office and when the FAFSA was originally submitted. MATC will start processing applications by the end of March and applications will be processed in the order in which they were received. Generally, once you submit your FAFSA it will take 3 - 5 weeks for it is be processed. Although the Financial Aid Office will try to keep in touch with you, it is your responsibility to make sure all documents are submitted in a timely manner and that your file is both accurate and complete.
The Federal Government randomly selects applications for verification as they are submitted. It is then the schools responsibility to request copies of taxes and other information to verify that the data reported on the Free Application for Federal Student Aid (FAFSA) is accurate. Errors must be corrected and sent to the Federal Processor. Eligibility for financial aid can change due to verification.
EFC is the Expected Family Contribution level determined by the US Department of Education. In short, EFC reflects the family's ability to pay for college during the award year. It is based on the information provided by the student on the Free Application for Federal Student Aid or confirmed through the verification process. EFC is the sum of the parental contribution (dependent student only) and student contribution. EFC does not reflect what the student or parents may have in "cash on hand" but the amount the family is expected to pay throughout the award year.
8. Can I transfer my Financial Aid from one school to another?
No, only the information used to determine eligibility transfers to another school. The student must go to www.fafsa.ed.gov and make a correction to their processed FAFSA. The correction is adding the Title IV code for the school you are transferring to. Once the correction is made the school added will electronically receive the results of your FAFSA and will determine your eligibility for their institution.
9. Can I receive Financial Aid from more than one school?
It is not unusual for students to be enrolled at more than one institution at a time. However, you cannot receive financial aid from both institutions. The school you plan to receive a certificate/degree from should be the school you receive financial aid from. That institution can award aid based on the hours from both schools. If you are enrolled in classes that are not on the MATC campus, you need to provide MATC Financial Aid Office with proof of enrollment of those hours.
10. What does Cost of Attendance mean?
Cost of Attendance (COA) is the allowable expenses a student will incur by attending college. COA can vary widely between certain categories of students within an institution and even between certain institutions. The following items are included in the COA at MATC:
" Tuition and Fees
" Books and Supplies/Tools
" Room and Board
" Transportation
" Personal/Misc. Expenses
" Loan Origination Fees
" Daycare
Expenses associated with attending college are not tailored to individual expenses but reflect an average paid by MATC students in a particular program.
11. How does the technical college decide how much money I will receive?
According to federal regulations, Expected Family Contribution (EFC) is subtracted from the allowable Cost of Attendance (COA) to determine need. If the EFC is low enough, a student may be eligible for a Pell Grant and/or other campus-based aid. It is the policy of the MATC Student Financial Assistance Office to award students their maximum eligibility in all available funds categories.
12. Do I have to be enrolled in a certain number of hours to receive financial aid at Manhattan Area Technical College?
Students must be enrolled at least half-time, 6 credits. Financial aid can vary depending on enrollment status. At MATC 6 - 8 credits is ½ time, 9 - 11 credits is ¾ time and 12 or more is full-time.
13. I don't live with my parents and they do not help me financially, why do I have to apply for financial aid using my parent's income and asset information?
The Higher Education Act of 1992 clearly states which students will be considered independent of parental support for education costs. Independent students must be able to document at least one of the following criteria:
" 24 years old by Dec. 31
of the award year
" Orphan or ward of the court
" Veteran of the Armed Forces of the U.S.A.
" Enrolled in a graduate or professional program (beyond a bachelor's
degree)
" Married
" Student has legal dependents other than spouse
If you do not qualify under these rules, the financial aid administrator or Financial Assistant Committee may consider exceptional circumstances that would allow you to be independent. The unwillingness of a parent to provide support or the choice of a student not to accept support are unacceptable reasons to be considered independent. If you have exceptional circumstances, contact the MATC Financial Aid Office.
14. If I am eligible for aid, when do I receive funds and where?
Aid cannot be disbursed until all required documents have been submitted and you officially enroll in the number of hours for which aid was processed. Generally, funds are disbursed at Final Registration/Fee Payment day, which is just prior to the start of each semester. After the semester starts, funds are available in the MATC office.
If a student is receiving Federal Stafford Student Loan funds and is borrowing for the first time, you must be in school 30 days before those funds can be disbursed.
15. What should I do if my or my family's financial circumstances change after I apply for financial aid?
Unfortunately, family or personal circumstances can take a turn for the worse during an award year. The federal government allows each school to develop a policy of Professional Judgment to review unforeseen circumstances that limit a student or family's ability to pay for college expenses. For special circumstances to be considered, complete the Professional Judgment form at www.matc.net/forms.
