Financial Aid Eligibility
Frequently Asked Questions
- Why should I apply for financial aid? My parents make too much money.
- What is the income limit to qualify for financial aid?
- How long does it take to find out if I get aid?
- Is it too late to apply for financial aid?
- 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?
- If my parents are divorced or separated, which parent should complete the FAFSA?
- Do I reapply for aid in subsequent years?
- What if my family’s financial situation changes?
- What happens to my financial aid eligibility if I get married?
- Why am I only receiving loans?
- Am I allowed to receive financial aid from more than one institution at the same time?
- If my EFC indicates I'm not eligible for need-based financial aid, are there other options?
- Why does the Department of Education ask for income information from the year before I go to school?
- I don't think that I'm eligible for anything, but I need help! What can I do?
- I applied for and received financial aid last year. I haven't received any this year. Why?
- Why did I not receive as much as the award letter said?
- If my Student Aid Report indicates that I am selected for verification, what do I do?
A. 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.
A. 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.
A. 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.
A. Probably not. The FAFSA takes approximately one week using FAFSA on the Web to process. It may take approximately 3 weeks for financial aid to be calculated and awarded to students once all data has been received and the student's file is complete. We would encourage you to review our priority application deadlines for Pikes Peak Community College's financial aid programs. You may apply for financial aid thoughout the school year, however you cannot expect financial aid to pay up-front costs for tuition, fees or bookstore charges.
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?
A. 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.
A. 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.
A. Because your family’s financial position may change from year to year, you are required to resubmit the FAFSA by March 31 to be eligible for priority packaging for the next school year. If your family’s financial standing remains consistent with the previous year, then you can generally expect PPCC to re-issue your current federal and state aid package.
A. If there are significant changes to your family’s financial circumstances, please contact the PPCC Financial Aid Office.
A. You will not necessarily receive more financial assistance if you get married. According to federal regulations, you are still dependent on your parents for the academic year if you get married after you file the Free Application for Federal Student Aid (FAFSA). Dependency status cannot be updated based on marriage until the following academic year. If you are married prior to filing the FAFSA, you will be considered an independent student for federal financial aid. This means that your parents will not need to provide financial information on the FAFSA; they also will not have to sign your application. You will need to provide your spouses' income information and if selected for verification, be able to provide a signed copy of their federal tax return and other requested documentation.
A. 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.
A. No. If you are enrolled at more than one college or university at the same time, you may receive financial aid from one of the institutions, not both. Contact a Financial Aid advisor for more information as Pikes Peak Community College works with other colleges on Consortium Agreements. However, not all colleges participate in that program.
A. If your EFC indicates you are not eligible for need-based financial aid, you may apply for an Unsubsidized Federal Stafford Loan. If you are a dependent student, your parents can apply for a Parent Loan for Undergraduate Students (PLUS). Also keep in mind that the FAFSA is the foundation for many private scholarships and it is free to apply.
Q. Why does the Department of Education ask for income information from the year before I go to school?
A. Studies have consistently shown that verifiable income tax information from the base year (2008 for the 2009-10 award year) is more accurate than projected (2009) information when determining family financial strength in calculating the Expected Family Contribution (EFC).
A. 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
A. You may be eligible for federal student loans, but you must complete the FAFSA on the Web in order to be considered. If you don't qualify for either of the two federal student loan programs, or if you need to borrow more than the allowable borrowing limits at your grade level, you may find assistance through alternative loans. Alternative loans are commercial student loans that are not subsidized or insured by the federal government. Alternative loans are available through some banks, guaranty agencies, and secondary student loan markets at competitive interest rates. We also encourage you to research scholarship opportunities.
A. You must reapply for financial aid each year. Applications are available each January for the upcoming academic year, which begins with the fall term.
A. Federal student aid programs are awarded based on the percentage of time you are enrolled for the semester. Most scholarships and grants will be prorated so if you are attending 9-11 credits; your award will be 75%. If you are attending 6-8 credits; your award will be 50%. Most scholarships and grants will not pay under 6 credit hours. Federal Direct Loans will pay the same as long as you are enrolled in at least 6 credit hours.
A. 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'm not sure if I want to take out a student loan or work during the school year. What should I enter for the questions asking if I am interested in student loans or Student Staff?
A. Some schools use the answers about loans and Student Staff on the FAFSA to construct a financial aid package for you. By answering with either "loans," "Student Staff," or "loans and Student Staff," says that you are interested in either or both types of aid but does not obligate you to take out a loan or accept a Student Staff position. It usually just means that the school will consider offering you a loan or Student Staff as part of your aid package. If you do indicate on the application that you are interested in either or both loans and Student Staff, you can change your mind and not accept the loan(s) or Student Staff later. Keep in mind that if you answer "No" to the Student Staff question when you apply—and subsequently change your mind—a Student Staff job may not be available if all of the Student Staff funds at the school have been awarded to other students.
A. At the end of each semester, PPCC will review each student's progress to determine whether a student is making satisfactory progress towards their educational goal in both qualitative and quantitative measurements.
The qualitative measurement consists of the cumulative grade point average as determined by the Colorado Community College System Standards of Academic Progress. This contains two components:
(1) the cumulative completion rate of credit hours completed versus credit hours attempted; expressed as a percentage rate of completion and
(2) the maximum timeframe allowed for a student to complete their certificate of degree program expressed as a percentage of total credits required. Review of Satisfactory Academic Progress will take place at the end of each semester. All applicants will be evaluated in the same manner, whether or not they have previously received financial aid at PPCC. In order to meet satisfactory academic progress requirements financial aid applicants and recipients must meet the qualitative and quantitative measurements outlined:
Cumulative GPA Requirement - Students must maintain a minimum cumulative grade point average of 2.0 for all credits attempted.
Cumulative Completion Rate - Students must complete at least 67% of cumulative attempted credit hours. The completion rate is defined as the percentage of the total number of credits completed divided by the total number of credits attempted over the entirety of a student's academic record at the school performing the calculation.
Transfer credits on the student's record are not taken into consideration when computing the student's completion rate.
All other credits, including remedial credits, are included in the calculation of the cumulative completion rate.
Maximum Time Frame -once students have attempted 100% of the number of credit hours required for their degree or eligible certificate program, they will be required to submit a degree completion evaluation with the signature of an academic advisor or counselor in order to be considered for continued financial aid eligibility.
Federal regulations allow financial aid recipients to receive financial aid for a maximum number of attempted credits. Students attempting credits in excess of 150% of the required number of credits to complete their program of study will be suspended. If at any point in time it is determined that a student cannot complete their program study within 150% of the program length, financial aid eligibility will be suspended. Transfer credit hours are included in the calculation of allowable maximum time frame. Attempted credit hours under all courses of study are included in the calculation of attempted and earned hours.
Appeals must be submitted to the Financial Aid Office with a completed appeal form (offered on the web or in one of the Enrollment Services Centers) and supporting documentation. The student is responsible for presenting sufficient information and documentation to substantiate the existence of extenuating circumstances. Appeals may be filed for extenuating circumstances, such as medical problems (family illness), family emergency (death of a family member), and other documented extenuating circumstances beyond the student's control.
Pikes Peak Community College | 5675 S. Academy Blvd. Colorado Springs, CO 80906 USA
(800) 456-6847 | (719) 502-2000