While students and their family share the primary responsibility for financing a post-secondary education, a number of federal, state and institutional financial aid programs are available to supplement the family contribution where need exists. Within the limits of its resources, YCCC will award financial assistance to students with need in the form of federal, state and institutional grants, scholarships funded through charitable gifts, federal work-study, and loans. Students will be offered financial aid subject to the availability of funds and course enrollment. All application materials may be obtained from the Financial Aid Office and/or on the Financial Aid page of the YCCC website. Students must reapply through the web or paper version each year after January 1st.

To be eligible for financial aid from federal, state or institutional sources, students must meet the following criteria:

• Be accepted into a YCCC degree or certificate program;

• Be a United States citizen, permanent resident of the United States or other eligible non-citizen;

• Maintain satisfactory academic progress;

• Not be in default on any federal loan program;

• Not owe a refund on a federal grant;

• Have a social security number;

• Be registered with Selective Service (if required);

• Be able to demonstrate financial need.

Most financial aid is awarded to students on the basis of demonstrated need. Financial need is equal to the Cost of Attendance (Student’s financial aid budget) minus the Expected Family Contribution (EFC). The Cost of Attendance at YCCC is comprised of the following estimated student expenses based on full-time attendance (averaging 14 credits), during fall/spring 2006-2007:

The costs listed are for a dependent student living off campus (YCCC does not provide residential housing), NOT at his or her parents’ home. Dependent students living with their parents will have a lower total Cost of Attendance than listed above and likewise, an Independent student will have a higher total Cost of Attendance. Exact figures are available in the YCCC Financial Aid Office.

The Expected Family Contribution (EFC) is the amount of money you and your family are expected to pay toward your education. The EFC is calculated using the information provided by you on the Free Application for Federal Student Aid (FAFSA). The calculation is based on a federal formula that has been passed into law by Congress.

Required Forms and Documents

YCCC is required to review selected students’ Financial Aid Applications and verifies 30 percent of enrolled students who have submitted a FAFSA. This process is called Verification. Verification requires the student to prove the information reported on the FAFSA to be correct. The selection is made by the Federal Government Central Processing Center that administers the FAFSA. The selection is random.

The YCCC Financial Aid Office will notify the student if the application has been selected for Verification. YCCC will send a letter that lists all documents required for Verification (for example, all tax returns as listed below) and the Verification Worksheet. All requested documents and the completed Verification Worksheet should be returned to the YCCC Financial Aid Office within 14 days of the date of the letter UNLESS other arrangements have been made with the YCCC Financial Aid Office. Financial Aid applications will not be reviewed until the Verification process is completed. Corrections made to a student’s FAFSA information as a result of Verification will be made electronically with the United States Department of Education by the YCCC Financial Aid Office. Notification of corrections resulting in an adjustment to a student’s financial aid award will be made through the student’s YCCC e-mail account. Students will be directed to the YCCC Financial Aid page where they may view changes to their financial aid record through the web Student Information Management System (SIMS). Students selected for Verification must submit the following: Federal Tax Return for Students/Spouses: The student must provide signed and complete copies of the student’s and their spouse’s (if applicable) 2005 federal tax return. Federal Tax Return for Parents: If the student is dependent on the parents for support (as defined in step three of the FAFSA), the student must provide signed and complete copies of their parents’ 2005 federal tax return for the 2006-2007 academic year. Verification Worksheet: This and other required forms are available on the YCCC web site at www.yccc.edu on the Financial Aid page.

One paper award notification will be mailed to the student once the Financial Aid Office has determined eligibility during the award year. Students are asked to read its contents carefully and follow any special instructions provided on the forms. Students will be notified via the student’s YCCC student e-mail account of any subsequent changes or updates made to their financial aid status/award during the award year, and will then be directed to the secure SIMS web module to view those changes and/or updates.

Listed below are the various federal, state and institutional programs from which an eligible student may receive assistance. For further information about the federal financial aid programs, see the 2005-2006 Student Guide, published by the United States Department of Education or visit www.students.ed.gov. Copies of this publication are available in the YCCC Financial Aid Office.

Full-time Pell Grant recipients under 20 years of age, and having completed a rigorous secondary school program of study after Jan. 1, 2006 " may qualify for up to 750.00 from the ACG for their first year, and 1,300.00 for the second year. The U.S. Dept. of Education will notify potentially eligible students on or around July 1, 2006 with further guidance, or visit: www.studentaid.ed.gov form current information. Students will be provided with a form from the FAO to have their high school guidance office certify the student completed a rigorous secondary school program.

Federal Supplemental Educational Opportunity Grant (Federal SEOG)

The Federal SEOG is for students without a prior baccalaureate degree and requires no repayment. This grant is for students with exceptional financial need and priority consideration is given to Federal Pell Grant recipients. Awards generally range from $100 to $400. The amount awarded is credited directly to the student’s tuition account (after the final “drop” period) in the Business Office each semester.

Federal Work Study (FWS)

The FWS Program provides on-campus and community service employment opportunities for students who qualify based on need. Wages are paid directly to the student. The FWS Program is a unique employment opportunity in that wages are considered financial aid and do NOT count as income when applying for financial assistance for the next academic year. Generally, awards range from $600.00 to $1,200.00 in any award year. As part of the FWS program, the America Reads program allows YCCC students to add to their professional growth and personal fulfillment by possibly reading to children in a classroom setting. Information is available in the Financial Aid Office or by visiting www.ed.gov/americareads.

Federal Subsidized Stafford Loan

Federal Subsidized Stafford Loans are loans for which the federal government subsidizes the interest while the student is in school, in grace period or in certain types of deferment contact hours. These loans are available through your local participating lenders. Federal Subsidized Stafford Loans are insured by the guaranty agency in each state and reinsured by the federal government. There is up to a one (1) percent guarantee fee and a three (3) percent origination fee charged on some loans. Students must demonstrate financial need in order to qualify.

Federal Unsubsidized Stafford/Loans

Federal Unsubsidized Stafford Loans are available to students without regard to financial need. These loans are made through banks, credit unions and/or savings and loan institutions. A student interested in borrowing from this program needs to complete the FAFSA first and then obtain an application from one of the previously mentioned lending organizations or the YCCC Financial Aid Office or web site. The student submitting a paper application should complete the borrower section of the loan application, and forward it to the YCCC Financial Aid Office for certification. There is normally a one percent guarantee fee and a three percent origination fee charged on loans.

Eligible students may borrow up to a combined subsidized/unsubsidized maximum amount as determined by YCCC based on their year in school and financial need. Possible maximum amounts are: $2,625 for eligible dependent freshmen and $3,500 for eligible dependent sophomores. Independent students are possibly eligible for an additional $4,000 as a freshman, and an additional $4,000 as a sophomore. Please note that a student, in an undergraduate program, may not borrow beyond the program maximum of $23,000 for dependent students, and $46,000 for independent students.

REGARDLESS OF WHETHER A STUDENT IS DEPENDENT OR INDEPENDENT, STUDENTS MAY NOT BORROW MORE THAN THE COST OF ATTENDANCE LESS FINANCIAL AID.

Once deemed eligible by the YCCC Financial Aid Office (FAO), a short paper Stafford Loan application, that is part of your award notification packet, must be submitted to the FAO for processing. This may also be printed from the Financial Aid page of YCCC’s website. An FAO staff person will notify you in writing once your application has been processed and you will be provided with general information in regards to anticipated disbursement dates and amounts, cancellation procedures, and instructions on how to sign your Master Promissory Note (MPN) if required. Normally, your loan funds will be received by the school via Electronic Funds Transfer (EFT) and credited to your student account in the Business Office after the “drop” period of each semester. Any remaining credit balances will be mailed to the student borrower. The interest rate for both subsidized and unsubsidized Stafford Loans is a variable rate and determined every July 1, not to exceed 8.25%. (Interest rates on loans borrowed prior to July 1, 2006 will depend upon the borrower’s past history with the program.) Students generally have up to ten years to repay these loans and begin making payments 6 months after they cease to be enrolled at half-time (6 credits). Monthly payment amounts are based on the total amount borrowed, interest rate, and the borrower’s past history with the program. However, the minimum monthly payment amount is $50.

NOTE: As a reminder to graduating seniors, if you received Stafford loan funds while attending YCCC, you will be required to attend a mandatory Exit Loan Counseling session with the Financial Aid Office prior to picking up your regalia.

NEW: As part of its student loan default prevention program, see the FAO recommends that monthly student loan payments not exceed 8% of anticipated monthly gross income and further recommends student loan borrowing maximums depending on the student’s academic program. See the FAO for more information.

Federal Parent Loan for Undergraduate Students (Federal PLUS Loan)

This loan enables parents who have a good credit rating to borrow on behalf of their dependent student who is enrolled in a degree or certificate program. The student must be enrolled on a half time basis (or more). A parent may borrow an amount equal to the student’s cost of education minus any financial aid received by the student. The interest rate on Federal PLUS Loans made after July 1, 1994 is variable, set annually, not to exceed 9%. Repayment begins after the last disbursement of the loan. Borrowers have up to ten years to repay. Applications for the Federal PLUS Loan may be obtained by a participating lender and must be submitted to the YCCC Financial Aid Office for further processing. Federal PLUS proceeds will be received at the College half each semester, via check or EFT. The College will notify the borrower of the loan’s receipt. Since Federal PLUS checks are made co-payable to the parent borrower and the College, they will be mailed to the parent for the first endorsement. Once the signed check is returned to the College, it will be credited to the student’s account in the Business Office. If the Federal PLUS loan causes a credit balance on the student’s account, a check will be issued to the parent borrower.

State Grants

Many states offer financial aid programs to assist residents with college costs. For the New England states, Alaska, Delaware, Maryland, Pennsylvania and Washington D.C. this grant is portable and may be received at YCCC if the student is from one of these states. Grant amounts vary from state to state, and each state program has its own formula and deadline. States determine their own recipients and notify both the selected students and the applicable colleges of the grant determinations. The state awards are often made separate from the YCCC award letter and, as a result, revisions to the financial aid package may be required. The  State Of Maine Grant Program Scholarship (SMGP) for an eligible student attending YCCC is $1000 for full-time attendance and $500 for part time attendance. Visit: www.famemaine.com , under “Education” for other state grant/scholarship opportunities.

The Bernard Osher Scholarship (Osher I)

The Bernard Osher scholarships are awarded by YCCC to full-time matriculated associate degree students (priority given to high school graduating seniors) with demonstrated financial need. To qualify, a student must carry at least 12 credit hours each consecutive semester and be matriculated in an associates degree program. A student must be a Maine resident, as defined by the YCCC policy on residency. To maintain the scholarship, students must achieve by the end of the first semester and/or maintain a minimum cumulative grade point average of 2.5. Priority consideration will be given to students whose FAFSA results (Student Aid Reports) have been received by April 15^th.

Osher Scholarship for Associate in Arts Students (Osher II)

Sponsored by the Bernard Osher Foundation, The Osher II Scholarships will be targeted to first-year students matriculated, either full-time or part-time, in the Associate in Arts in Liberal Studies degree program. Applicants must meet the following eligibility requirements:

-Must not have accumulated more than 24 credits from any higher education institution(s);

-Must not be concurrently matriculated at any higher education institution(s);

-Must be residents of Maine, for at least one year immediately prior to registration for the term for which resident status is claimed;

This scholarship offers eligible students two core courses tuition-free. For the ’06-‘07 school year, this is a $468 value. Students are responsible for fees and books associated with these courses. Students eligible for this scholarship will be identified during their admissions process, and awarded the scholarship upon their formal acceptance. Please forward all inquiries about this scholarship to the Admissions Office.
 

YCCC Foundation

Annually, the York County Community College Foundation makes available privately supported scholarships. These scholarships are the direct result of the Foundation’s fundraising efforts. These scholarships are administered by the Executive Director of the YCCC Foundation in conjunction with the Financial Aid Office according to the donor’s restrictions.

Other Sources of Scholarships and Grants

The YCCC Financial Aid Office will make every effort to notify students of additional scholarship and grant opportunities of which we become aware. Most scholarship applications will be available on the Financial Aid page of the YCCC web site.

Child Care Financial Assistance

YCCC, through Carl D. Perkins program, has limited funds available to students who have childcare needs and would like to apply for assistance under this program. Please visit the Financial Aid web page under the current year scholarships to print the application. (Assistance contingent on availability of funds). There is an August 15 deadline annually.

Outside Resources

Students who receive funding from outside resources, such as community scholarship, employer paid tuition, education-related veteran’s benefits, or a third party payer, must forward a copy of their award to the Financial Aid Office directly within two weeks of receiving their award notification.

Veterans’ Educational Assistance Benefits

Veterans and other eligible persons are able to use their educational benefits for degree and certificate programs that have been approved by the Maine State Approving Agency for Veterans Education Programs. Students who plan to receive veteran’s benefits must see YCCC’s Enrollment Services Coordinator in the Student Affairs Office  to initiate paper work.

Native American Tuition Waiver

Native American tuition waivers are provided for Native American students matriculated in a degree or certificate program. Waivers apply to the per-credit-hour tuition cost only and do not apply to course fees. Native American students are responsible for paying all other costs associated with attendance, including the tuition deposit, all fees, books, supplies and personal expenditures. It is the responsibility of the student to provide proper documentation of eligibility to the Business Office at the time of admissions application to the College. Eligibility is extended to:

v   Those Native Americans whose names are included on the current Tribal census of either the Passamaquoddy or Penobscot Tribes;

Ø        Those persons who have resided in Maine for at least one year prior to matriculation and at least one of whose parents or grandparents was either included on the census of a North American tribal census or who held a band number of the Maliseet or Micmac Tribes.

Satisfactory Academic Progress

In order to receive financial aid under Title IV of the Higher Education Act (HEA), as amended, a student must maintain satisfactory academic progress (SAP) in her or his course of study according to the standards and practices of the College described below. Student academic records will be reviewed at the end of each semester to determine that each student is making satisfactory academic progress. Two measures will be used, each bearing equal weight in determining the student’s status.

1. Qualitative Measure:

This is a measure of the student’s grade point average. This measure is reviewed at the conclusion of each semester. Qualitative measure is not affected by full or part-time enrollment status. Students will be placed on financial aid probation for one semester if they do not meet the following cumulative GPA requirements. Students who fail to regain satisfactory academic status for a subsequent semester will be placed on financial aid suspension and lose their financial aid:
 

2. Quantitative Measure:

The maximum time for matriculated students to complete a program and receive financial aid must be no more than 150% of the length of their academic program. Students will be evaluated at the end of each semester to determine if they are making Satisfactory Academic Progress (SAP). SAP will be applied to all students, regardless of full-time or part-time status. A credit is defined as attempted when it is on the student’s enrollment schedule at the end of the official Add/Drop period.

Transfer Credits, Advanced Placement Credits and Credit by Examination will be included in the cumulative quantitative total calculations when the credits are officially transferred to fulfill YCCC requirements. These credits do not carry quality points and are not included in the qualitative analysis of satisfactory academic progress.

An “Incomplete” may be awarded by an instructor under extreme circumstances to a student who fails to complete coursework within the prescribed time period. The incomplete will default to “F” if the completed coursework is not submitted within 30 calendar days from the end of the course.

Remedial work in developmental courses may qualify for financial aid if the courses are measured in credit hours and are required as part of the student’s planned program.

Repeated courses due to failure, or having obtained a grade lower than that required for a particular subject affect satisfactory academic progress in the following manner: the course is included in both qualitative and quantitative evaluation in the academic year in which it was taken. The subsequent grade, credit earned and removal of the original grade are evaluated qualitatively at the completion of the repeated course. The original credits attempted remain in the quantitative evaluation. In other words, a repeated course may improve the student’s grade point average, but it does not extend the allowable attempted credits toward degree completion

Appeals for reinstatement of financial aid eligibility lost by students not meeting satisfactory academic progress requirements may be made. Appeals must be received, in writing, by the Dean of Students within fifteen working days of the date of written notification to the student. The Director of Financial Aid and the Dean of Students will evaluate appeals. Mitigating circumstances, which a student believes to have affected his or her ability to maintain satisfactory academic progress, should be documented to the Assistant Dean of Students as part of the student’s appeal. Mitigating circumstances that will be considered will include, but are not limited to:

• Illness or injury to the student or close relative

• Death of a relative or associate

• Family emergency.

Please visit YCCC’s Financial Aid page for more details on the most currently revised SAP policy.

NOTE: If a student withdraws from the College in an academic term during which they are ineligible for financial aid due to not maintaining satisfactory academic progress, they remain ineligible for financial aid until such time that the student once again makes satisfactory academic progress. In other words, you may not re-enter the College with new financial aid eligibility if at the time you withdrew you were not meeting the satisfactory academic progress requirements.

 
Financial Aid Refund Policy (Return of Title IV Funds)

The Act permits a taxpayer to claim the Hope Scholarship Credit to a maximum credit of $1,500 of qualified tuition and related expenses paid on behalf of a person claimed as a taxpayer’s dependant for the first two years of post-secondary education at an eligible institution, provided the student and the taxpayer claiming the credit meet certain eligibility requirements. Fees paid for tuition after the first two years of postsecondary education are eligible for the new “Lifetime Learning Credit.” A full explanation of the new tax benefits can be found in the IRS Publication 970, Tax Benefits for Higher Education, which is also available at: www.irs.treas.gov  under “information for individuals”.

The Act imposes a reporting obligation on all educational organizations that receive qualified tuition and related expense payments. For the 2004 tax year, YCCC will provide every student, who attended during the year, with an IRS Form 1098-T by February 1, 2005 reflecting the following information:

v      Name, Address, and Social Security Number of the student

v      Name, Address, Contact Name and Telephone Number, and Employer ID of the College

v      Indication whether the student attended more or less than half time during the year the same information will also be provided to the IRS by March 1, 2005.