Paying for college can be one of the toughest parts of earning your degree but it shouldn’t prevent you from achieving your educational goals. The Financial Aid office has many options, which include grants, scholarships, and student loans.
The Application Process
Students must reapply each year to be considered for financial assistance. If you need assistance in paying for college, these steps will help you apply for federal student aid and for financial aid at North Central State College.
- Create a Federal Student Aid ID:
The FSA ID – You will use this user name/password to sign your FAFSA each year as well as to accept student loans (if you choose to do so). If you do not already have an FSA ID, you can create one when logging in to: fafsa.gov
- Gather Required Documents to Apply for Federal Aid
The following information is required for the completion of the FAFSA:
- Student’s social security number and a household parent’s social security number and birth date (if dependent)
- Student’s driver’s license number
- Federal income tax information for all members of the student’s household (student, spouse and parents if dependent)
- Untaxed income received in the household (child support, veteran’s benefits, social security, etc.)
- Information on any investments or assets (not including the home)
- Complete the FAFSA
Complete and submit the FAFSA (Free Application for Federal Student Aid) each year after October 1st to have eligibility determined for federal, state and some types of institutional financial aid. Apply at: fafsa.gov
- Submit High School/GED Documentation
Submit high school/GED documentation. Acceptable documents are a copy of your final high school transcript (showing date of graduation) or GED certificate. Submit your documentation to the Admissions Office.
- Financial Aid Office Processing
Once the financial aid office has your FAFSA application and high school/GED documentation, we will process your application and let you know if you were awarded or if your application was chosen for verification.
- Complete verification (if selected). The FAFSA processor selects about one-third of applicants for verification – a procedure to double-check information you entered on your FAFSA. If you are selected, our office will contact you to provide directions. Aid cannot be determined until verification is complete.
- If you are eligible for Federal grants, they will be automatically accepted on your award notification.
- To receive any offered student loan, students have to complete an Entrance Counseling session, sign a Master Promissory Note (MPN) and complete the Informed Borrowing Confirmation/Annual Student Loan Acknowledgement at https://studentaid.gov/
The FAFSA deadline is always 4 weeks before the tuition deadline. If you complete the financial aid process after the FAFSA deadline, you may still receive your aid in time for the upcoming semester – though it is not guaranteed. Please be prepared to make a payment if your financial aid is not awarded prior to the tuition deadline.
If your financial aid does not cover your costs, you may be eligible for additional loans. Any remaining balance due after financial aid is taken into account will need to be paid before the semester begins in the form of a payment plan or a full payment.
You will submit the FAFSA in 2020-21.
You can submit the FAFSA from October 1, 2019 – June 30, 2021.
You will use income and tax information from 2018.
You will submit the FAFSA in 2019-2020.
You can submit the FAFSA from October 1, 2018 – June 30, 2020.
You will use income and tax information from 2017.
Types of Aid
Below is a brief overview of the types of loans available at NC State. For more information, visit the Loans page.
What is a Direct Loan?
A federal Direct Loan is a federal student loan made directly by the U.S. Department of Education.
Generally, if you took out a federal student loan or consolidated your loans on or after July 1, 2010, you have a federal Direct Loan. There are four types of Direct Loans:
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Direct PLUS Loans
- Direct Consolidation Loans
You can learn more about what type of loan you have through the National Student Loan Data System (NSLDS).
Parent PLUS Loans are available to parents of dependent students to help pay college expenses. They are provided by the US Department of Education and require credit approval. Repayment begins soon after funds are paid out.
Parents must complete the Plus Request Process, including a Plus Entrance and Plus e-MPN at https://studentaid.gov/
Parents wishing to take out a Parent PLUS loan are encouraged to contact the Financial Aid Office for instructions.
If it is determined a PLUS applicant has adverse credit history the US Dept of Ed may require additional information and/or completion of new Entrance counseling and/or a loan endorser.
Alternative Loans (also called private loans) are made by banks directly to students. These loans are not subject to the same government rules as Federal Direct Loans or Stafford Loans.
NC State does not endorse any one private lender. We encourage you to compare lenders before deciding from whom you will borrow.
When exploring this option, beware of Internet scams, if it seems too good to be true, stay away. Be sure to read all material provided by the Private Lender.
Students wishing to use a Alternative/Private Loan must notify the Financial Aid Office.
- You are responsible for providing the necessary documentation, as required by your lender, to our office.
- You are required to conduct any follow-up with the lender and NCSC Cashier’s Office.
- Your loan disbursements will arrive as a paper check to the Cashier’s Office, and is considered as a cash payment at that time.
- Disbursement dates will follow the schedule of all other student loans. Other payment arrangements should be made with the cashier until this check arrives.
- The requested/processed loan amounts will be evenly awarded over the entire academic year. Large single term loan awards will not occur!
- You will be unable to use proceeds from this type of loan to “charge textbooks at the bookstore”; therefore, you are required to purchase your own textbooks until your funds arrive.
Grants and Scholarships
For more information on the many other grants and scholarships available to North Central State College students, visit the Grants and Scholarships page.