Types of Financial Aid
MISSISSIPPI TUITION ASSISTANCE GRANT [MTAG]
Mississippi Tuition Assistance Grant (MTAG) is a state scholarship awarded to students who have not already received a degree from a college or university. MTAG is awarded to a student who has been a legal resident of Mississippi for at least 1 year prior to the award year, an ACT score of 15 or better, and a grade point average of 2.5 based on a 4.0 scale. Freshmen and sophomore awards are $250 per semester if full funding is available.
MISSISSIPPI EMINENT SCHOLARS GRANT [MESG]
Mississippi Eminent Scholars Grant (MESG) is a state scholarship awarded to first-time entering students. MESG is awarded to a student who has been a legal resident of Mississippi for at least 1 year prior to the award year, has a minimum ACT score of 29 and 3.5 grade point average on a 4.0 scale, and is recognized as a finalist or semifinalist by the National Merit Scholarship Corporation or the National Achievement Scholarship Program. MESG award covers tuition and mandatory fees not to exceed $2,500.00. For more information, check the RiseUp MS website.
FEDERAL PELL GRANT
The Federal Pell grant is money that is available to undergraduate students who have not received a baccalaureate degree. This money does not have to be paid back, as long as the student remains enrolled and attends more than 60% of that semester. The U.S Department of Education uses a standard formula to evaluate the information the student provides on the FAFSA to determine his/her eligibility. The award can be between $565 and $5,815 per award year. These funds are divided between fall and spring semesters and credited to the students account. Any remaining balance of financial aid (after fees are paid) is applied to the student's BankMobile card in four disbursements.
FEDERAL SUPPLEMENTAL EQUAL OPPORTUNITY GRANT [FSEOG]
The FSEOG grant is money available to undergraduate students who meet eligibility criteria. Eligibility is determined using the results of the FAFSA. FSEOG is awarded to the student with exceptional financial need or the lowest Expected Family Contribution (EFC). Priority is given to students who receive Federal Pell Grants. This money does not have to be paid back, as long as the student remains enrolled more than 60% of that semester.
FEDERAL SUBSIDIZED LOAN
A Federal Subsidized Loan is awarded on the basis of financial need. Normally, no interest will be charged on the loan before repayment begins because the federal government “subsidizes” the interest during this period. However, for new borrowers beginning July 1, 2013 that subsidy will end after 150% of the published time for completion for the program you are in or once you are no longer enrolled half time in school.
FEDERAL UNSUBSIDIZED LOAN
A Federal Unsubsidized Loan is not awarded on the basis of need. The Federal Unsubsidized Loan provides financial assistance to all students regardless of income. You 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 it will be capitalized and added to the principal amount of the loan.)
FEDERAL PLUS LOAN
Creditworthy parents of dependent students can take out loans to supplement their children’s aid packages. The Federal PLUS loan program allows parents to borrow money to cover any costs not already covered by the students financial aid package, up to the full cost of attendance. PLUS loans are the financial responsibility of the parents, not the students. Dependent undergraduates may be eligible to borrow additional funds through the unsubsidized Federal Stafford Loan program if the parent is unable to obtain a PLUS loan because of exceptional circumstances or because the parent was denied a PLUS loan. PLUS Loan Repayment begins within 60 days after the last disbursement of the loan. Interest begins to accrue on the day of the FIRST disbursement.
Hinds Community College offers a variety of scholarships and students are allowed to receive more than one scholarship. We want your education to be accessible and affordable. Check our scholarship page for available opportunities and call us at 601.857.3767 if we can assist you.
College Work-Study is an excellent opportunity for undergraduate students to receive work experience and earn extra money without leaving campus. Students work 12 hours per week and earn minimum wage with pay periods once per month. Hinds Community College offers both Federal and Institutional types of college Work-Study. To apply for either of these programs of Work-Study, students must complete the FAFSA, making sure that their answer to the question about what types of student aid interest them includes work-study, and provides Hinds' school code (002407) on the FAFSA. Once the FAFSA is submitted to the Department of Education, a standard formula is used to produce an Expected Family Contribution (EFC) which determines the type of work-study the student will be eligible to receive. The Work-Study programs give students the chance to gain valuable work experience to help with future job opportunities. At the beginning of each semester students attending the Raymond and Utica campus that are interested in participating in one of the work-study programs must come to the Financial Aid Office at their location concerning their work-study eligibility. Students attending locations other than Raymond and Utica must contact the Deans' Office at their location about available work-study positions.