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Questions in "Financial Aid - Eligibility":

Q. Why should I apply for financial aid? My parents make too much money.
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You should always try to apply for aid. First, it is free. It is also the foundation of other aid such as the State of Colorado merit-based aid, private scholarships and Federal Direct Stafford Loans. Federal Direct Loans are considered financial aid because the benefits are so much better than anything you could get at a bank with a private loan.

Q. What is the income limit to qualify for financial aid?
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There is no specific income limit. A complicated formula is used to look at income, number of people in the household and in college, age of the eldest parent, investments, cash, savings, checking -- even the state of legal residence! You provide this information on the FAFSA application and the result is the EFC (Expected Family Contribution) which is used to determine the family's ability to pay for educational costs.

Q. How long does it take to find out if I get aid?
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It depends on when you apply and if you complete your file in a timely manner. The key is to apply early. The FAFSA is available January 2 for the following August term. PPCC's priority date is March 31. If you apply and have a complete file by that date, you can be sure of getting packaged, being awarded work employment (if you choose) and being able to charge your book purchases at the bookstore. You may continue to apply for financial aid throughout the year; however, it could take 4 - 6 weeks to be awarded and students may or may not be able to get their bookstore purchases with the financial aid.

Q. I want to apply for financial aid, but my parents haven't completed their Federal Tax Returns yet. Should I wait to file my FAFSA?
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In order for you to be considered for the best financial aid package you must submit your FAFSA before March 31. You may provide estimated financial information on your application. If the information changes once the tax returns are filed you must make corrections on your FAFSA.

Q. Why am I only receiving loans?
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Most likely you are a student with less financial need than others. Or, you are a student with financial need who applied later than others with need. Go to our scholarship page and start applying for as many private scholarships as you are eligible to apply for.

Q. What is an EFC?
147 views, Financial Aid - Eligibility

EFC stands for Expected Family Contribution. The federal processor calculates this number based on the information you provide on your FAFSA. It represents how much you/your family can afford to pay toward your education for the academic year. The EFC is subtracted from your cost of attendance (COA) to determine your financial need. If you have any financial need, the Office of Student Financial Assistance will offer you need-based aid on your award notification. COA - EFC = Your financial need

Q. If my Student Aid Report indicates that I am selected for verification, what do I do?
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We will notify you by mail if we need you to provide any further information and you will be able to see what is needed on Self Serve Banner. It is very important for you to respond promptly to any request for information from PPCC's office of Financial Aid to ensure that your student financial aid is processed timely and correctly. You may also watch our website to see what forms might be needed and what your financial aid package is. There are many Dept of Education forms on our website. If you are required to submit a federal tax return, please sign in the appropriate signature box. If you are unable to bring in your documents, you max fax to 719.502.2069 or mail. Please watch the website to ensure they have been received.

Q. I applied for and received financial aid last year. I haven't received any this year. Why?
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You must reapply for financial aid each year. Applications are available each January for the upcoming academic year, which begins with the fall term.

Q. What if my family?s financial situation changes?
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If there are significant changes to your family?s financial circumstances, please contact the PPCC Financial Aid Office.

Q. If my parents are divorced or separated, which parent should complete the FAFSA?
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You should answer the questions using information about the parent that you lived with more during the past 12 months. If you did not live with one parent more than the other, give answers about the parent who provided the most financial support for you (e.g. money, gifts, loans, housing, food, clothes, and medical expenses). Child support payments from your other parent will be taken into consideration, and information about the income and assets of any stepparent must also be provided. We realize that these situations can be sensitive and complicated. Please feel free to discuss your individual circumstances with one of our advisors. All information will remain confidential.

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