Financial Aid for Veterans
Financial Aid Application Process
Financial Aid Application Process
It is important to complete the FAFSA each year even if you do not think you will qualify for financial aid. Colleges and universities use the information supplied on the FAFSA to determine your eligibility for grants, scholarships, work-study awards and federal student loans. Submit your FAFSA as early as October 1 and remember that some schools award funds on a first-come, first-served basis.
To receive any Federal Financial Aid you must submit the FAFSA. Be sure to include Hinds Community College as one of your college choices, using School Code 002407.
Once you complete the FAFSA, the Department of Education will send you a SAR. This report summarizes the information you provided on your FAFSA and estimates your Expected Family Contribution (EFC). If your EFC is lower than the college’s cost of attendance, you will likely qualify for financial aid.
Each school listed on your FAFSA will receive a copy of your SAR and use the information to prepare a financial aid package for you. Your financial aid package, also known as your offer letter, will list the grants, scholarships and work-study funds the school is allocating to you, along with your eligibility for federal student loans.
When applying for financial aid, remember to research grants and scholarships available through the government and private organizations. Many schools automatically consider you for grants and scholarships when you apply for admission.
For those not offered by your school, you can visit:
- Discover’s Student Loans Free Scholarship Search is a fast and easy way to search 3 million scholarships worth more than $18 billion. No registration required.
Student loans are automatically included in your award packages as estimated. Log in to your My.Hinds account for eligibility and actions needed.
Keep the following in mind when you get an aid offer and are deciding which aid is the best to accept:
Accept Financial Aid in this Order
- Free money first (e.g., scholarships, grants)
- Earned money second (e.g., work-study)
- Borrowed money last (e.g., federal student loans)
Make sure you understand the conditions you must meet to stay eligible for the scholarship or grant. For instance, you might have to maintain a certain grade-point average to continue receiving a scholarship, or your TEACH Grant might turn into a loan if you don’t teach for a certain number of years under specific circumstances.
You don’t have to pay the money you work to earn back, but you do have to work for it, so take into account that you’ll have to balance your time between work and studying. Bonus: Research has shown that students who work part-time jobs manage their time better than those who don’t!
You’ll have to repay loan money with interest. Subsidized loans don’t generally start accruing (accumulating) interest until you leave school (or drop below half-time enrollment), so accept a subsidized loan before an unsubsidized loan. Next, accept an unsubsidized loan before a PLUS loan.
You’ll have to repay loan money with interest, and the terms of the loan might not be as good as those of a federal student loan. Be sure to read all the fine print before you borrow.
You’ll have to repay loan money with interest, and the terms and conditions of the loan are usually not as good as those of a federal student loan. Be sure to read all the fine print and borrow wisely.
Many schools also offer tuition payment plans (a monthly interest-free payment toward tuition). This type of plan may help reduce the amount you need to take out in loans. Ask your Business office if such a plan is available.
You can also visit:
- StudentAid.gov is a great source to find and apply for federal grants.
- Fastweb.com sends you personalized options for grants and scholarships.
- StudentScholarshipSearch.com is a free database containing hundreds of scholarships.
- Scholarships.com lets you customize your search results based on your profile.
Financial Aid Timeline & Checklist
- File FAFSA (Free Application for Federal Student Aid). Use Hinds Community College’s school code: 002407. Please make sure to use the IRS Data Retrieval process when completing the FAFSA. If unable to use the IRS Data Retrieval Tool, visit the IRS Data Retrieval and Tax Return Transcript site.
- Application period for Foundation Scholarships
- Financial Aid Offer Letters mailed to students.
- Review Tuition and Fees through your My.Hinds account.
- Make sure you have completed the Hinds Community College Admissions process.
- Make sure that your Hinds Community College email account is activated.
- Make sure that any non-federal loans and external scholarships are in place. Visit your My.Hinds account to find information regarding payment plans and Alternative Financing.
- If a parent chooses to use the federal Parent PLUS loan for additional financing, visit the Federal Student Aid’s Parent PLUS loan page to complete the application and simultaneously sign the promissory note.
- Complete your Federal Direct Loan Promissory Note at StudentAid.gov.
- Complete your Federal Direct Loan Entrance Counseling at StudentAid.gov.
- Bills available upon registration via students My.Hinds account.
- If you are interested in federal work study please apply here.
Financial Aid URLs for Service Members
- Hinds CC Costs and Aid
- FinAid.org provides free information on financial aid, loans, savings, military aid, and scholarships.
- StudentAid.gov offers financial aid information from the U.S. Department of Education.
- The FAFSA site contains the application and information about FAFSA (Free Application for Federal Student Aid).
- CollegeBoard.org develops the CSS (College Scholarship Services) Profile form, which many schools require students to complete in order to apply for financial aid.