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Prospective Students - Office of Financial Aid

Eligibility

Financial aid is available to eligible students to help them meet expenses while attending college.  Students that are eligible for Federal financial aid should apply complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov.  Financing higher education requires long-range planning, careful budgeting and, usually, sacrifice by both the student and family. Funds from Financial Aid programs are supplemental to maximum financial efforts by the family. For each academic year the Financial Aid Office provides updated financial aid information to assist students in planning their financial needs while attending North Country Community College.

Determining Need

In order to be eligible for any Title IV financial aid, a student must:

Residence Requirements

Essex and Franklin County residents must have been a resident of the State of New York for one year, and of the County of Essex or Franklin for six months immediately prior to registration.

New York State residents must have been a resident of the State of New York for one year and of a county other than Essex or Franklin for six months immediately prior to registration who can present a Certificate of Residence from that county.

Non-resident students are any students that do not fulfill Essex and Franklin County and/or New York State residency requirements as defined in the two statements above. Non-resident students are required to pay non-resident tuition rates. To qualify for the resident tuition rate, a student is required by law to present once each academic year, on or before registration, a Certificate of Residence indicating that he or she has been a legal resident of the State of New York for one year and of the county in which he or she resides for six months.

Verification Forms

Dependent Verification 2007-2008

Independent Verification 2007-2008

Dependent Verification 2008-2009

Independent Verification 2008-2009

Additional Forms

Consortium Agreement Form

Special Circumstances Form

Living Expense Worksheet

Loan Information Brochure

Federal Stafford Loans

Federal Stafford Loans are available as subsidized, unsubsidized, or a combination of both types.  Students are not required to make payments on either type of loan while enrolled at least half-time at an eligible educational institution.  However, students may find it is advantageous to make regular or interest-only payments while enrolled.

Subsidized Stafford Loans are awarded based on each student's demonstrated financial need, as determined by the Financial Aid Office.  These loans are interest free while the student is enrolled at least half-time at an eligible educational institution or during authorized grace and deferment periods.  Interest is charged once the loan is in repayment or when it is in forbearance status.

Unsubsidized Stafford Loans are awarded regardless of each student's demonstrated financial need.  These loans begin to generate interest charges immediately after disbursement.  You have the option of making quarterly interest payments or deferring the interest during at least half-time enrollment, grace, and deferment periods, however the interest due will be capitalized (added to the outstanding loan balance).

All Federal Stafford Loan applicants must complete the FAFSA to determine eligibility for the loan. 

Federal Stafford Loan Terms and Conditions

Interest Rates
Federal Stafford Loans disbursed on or after July 1, 2006 have a fixed interest rate of 6.80%.  The College Cost Reduction and Access Act will adjust the fixed interest rate on all undergraduate Subsidized Stafford Loans according to the following chart:

Federal Unsubsidized loans will remain at the 6.8% fixed interest rate.

Repayment
In most cases, regular loan payments begin after the loan grace period, or 6 months after the student graduates, leaves school, or drops below half-time enrollment.  Repayment will initially be scheduled for fixed monthly payments over a 10 year period.  Each lender will offer other repayment options for interested students.

How to Apply for a Federal Stafford Loan

Students should complete the following steps to apply for a Federal Stafford Loan:

1. Free Application for Federal Student Aid (FAFSA)
2. Accept the desired loan(s) on the Financial Aid Award Offer

Students accepting a Federal Stafford Loan for the first time at North Country or students who would like to choose a new lender should also:

1. Complete and return the green Federal Stafford Student Loan worksheet selecting your lender.  For a comparison of lenders, please see below.
2. Complete an online Federal Stafford Loan Entrance Interview at www.mappingyourfuture.org
3. You will receive information during the summer on how to complete a Master Promissory Note.

Suggested Stafford Loan Lender List

As a Student borrower, you may select any participating, Federally Authorized student loan lender to service your loan needs.  North Country does and will process your loan request from any authorized lender in the Federal Student Loan Program.  Students should note that North Country has selected the following lenders as being preferred based on our past experience with them in servicing loans for our students.  You may select any authorized lender based on your own criteria.

Edamerica

Lender Code 831453

Phone: 800-337-1009

Fax: 877-533-7587

http://partners.edfinancial.com/l831453/f007111/Home/tabid/9035/Default.aspx

Bank of America

Lender Code 824421

Phone: 1-800-344-8382

Fax: 651-290-8799

www.bankofamerica.com/studentbanking/

Wachovia Education Finance

Lender Code 830005

Phone: 1-800-338-2243

Fax: 888-451-0733

www.wachovia.com/education

North Country uses New York State HESC, American Student Assistance (ASA) and Great Lakes as their guarantor agencies based on past experience with them in processing loans for our students as well as their current default prevention programs.  You may select any authorized guarantor agency based on your own criteria.

Stafford Loan Comparison Chart

Please note:  This information is for comparison purposes only.  Please contact each individual lending agency for specific and up to date information on benefits and criteria used to qualify for and maintain eligibility for advertised benefits.  North Country has selected the above lenders as being recommended based on our past experience with them in servicing loans for our students.  The lenders on this list are not in alphabetical order.  The order above is based on lender volume with North Country students in the past.  You may select any authorized lender based on your own criteria. 

Federal Parents Loan (PLUS)

The Federal PLUS Loan is available to help parents meet the cost of their child’s college education. These loans are made to parents of full or half-time dependent undergraduate students, maintaining satisfactory academic progress.  As a parent, you may borrow up to the cost of education minus any other financial aid.  A credit check is required and is based on lenient federal standards – no debt-to-income ratios or credit scoring. A parent is more likely to be approved on a PLUS application than as co-signer on a private alternative loan.  

The repayment period for PLUS loans is up to 10 years, with a variety of repayment options.  There are no pre-payment penalties, and there are provisions for death or total, permanent disability.  PLUS loans are appealing to many families because of their low, fixed interest rate.  Federal PLUS Loans disbursed on or after July 1, 2006 have a fixed interest rate of 8.5%.  Accrued interest is capitalized once you enter repayment. 

All Federal PLUS Loans may be subject to fees up to 4%, taken from the value of the loan at the time it is disbursed to the school.  The loan amounts on financial aid award notifications represent the gross amount (amount before the fees have been paid). 

 How to Apply for a Federal Parent (PLUS) Loan

1.   The student must have completed the Free Application for Student Aid (FAFSA).

2.   Log on to the website of the lender you wish to borrow from. (Websites are listed below)

3.   Complete pre-approval process on line by following the directions.

4.   Upon approval within minutes, you will receive an e-mail notification (or fax within 2 hours) with instructions to complete   your eMPN (electronic Master Promissory Note).  Once you have completed the eMPN, the Financial Aid Office will also receive electronic notification and will then certify your eligibility for a PLUS Loan. 

Note: Disbursement is determined by federal regulations and will be credited to the student’s account.

5.   If you are denied a PLUS loan, you will receive a denial letter from your lender with instructions for requesting a review.  If you are subsequently approved, the Financial Aid Office will be notified and the process will proceed as above.

6.   If you are denied and unable to justify a request for review OR your review confirmed your denial, the student will then be eligible for an additional unsubsidized Stafford loan.  Please have your son/daughter contact the financial aid office to discuss this option, and other options for funding his/her North Country Community College education.

Suggested Parent Loan Lenders

As a Parent borrower, you may select any Federally Authorized student loan lender to service your loan needs.  North Country does and will process your loan request from any authorized lender in the Federal Student Loan Program.  Parents should note that North Country has selected the following lenders as being preferred based on our past experience with them in servicing loans for our students.  You may select any authorized lender based on your own criteria.

Edamerica

Lender Code 831453

Phone: 800-337-1009

Fax: 877-533-7587

http://partners.edfinancial.com/l831453/f007111/Home/PLUS/tabid/9052/Default.aspx

Bank of America

Lender Code 824421

Phone: 1-800-344-8382

Fax: 617-755-7403

www.bankofamerica.com/studentloans/

Wachovia Education Finance

Lender Code 830005

Phone: 1-800-338-2243

Fax: 1-888-451-0733

www.wachovia.com/plus

North Country uses New York State HESC, American Student Assistance and Great Lakes as their guarantor agencies based on past experience with them in processing loans for our students and parents as well as their current default prevention programs.  You may select any authorized guarantor agency based on your own criteria.

Parent Loan Lender Comparison Chart

Please note:  This information is for comparison purposes only.  Please contact each individual lending agency for specific and up to date information on benefits and criteria used to qualify for and maintain eligibility for advertised benefits.  North Country has selected the above lenders as being recommended based on our past experience with them in servicing loans for our parents.  The lenders on this list are not in alphabetical order.  The order above is based on lender volume with North Country parents in the past.  You may select any authorized lender based on your own criteria. 

Alternative Student Loans

Alternative student loans are private, direct-to-consumer loans used to assist with educational expenses not covered by federal aid.  In most cases, it is most beneficial to the student and family to use a Federal Parent (PLUS) Loan instead of an alternative loan.  You may check with your bank for alternative loans that do not require school certification.  North Country does not service alternative loans or provide customer service to students who have problems with these loans.  Please consider the information below before deciding to borrow an alternative loan.

 Scholarship Information

The Financial Aid Office does not award scholarships directly. The Enrollment Office will notify the Financial Aid Office of any of the following scholarships which are applied automatically if you are eligible; the Adirondack Scholarship, the Hodson Scholarship, the International Scholarship, and the Canadian Alliance Scholarship. All other scholarships are handled on a case by case basis and are not awarded through the Enrollment and/or Financial Aid Office. If you have received a scholarship from a different source, you should follow all of the instructions that are necessary to receive the scholarship money and notify the Financial Aid Office when necessary. The links below are for your information in finding additional scholarships opportunities. These links are not affiliated with the Enrollment Office so if you have any questions, please contact the person(s) responsible for the scholarship information.

http://www.nccc.edu/scholarship_info.aspx

http://www.finaid.org/scholarships/

I am pleased to announce the launch of an exciting, innovative new resource www.college.gov. College.gov was designed by students for students and features first-person accounts of students who overcame challenges to going to college such as peer pressure, lack of family support, and financial barriers. It provides relevant, comprehensive information about why to go, how to go, and how to pay for college or other postsecondary education programs. Young people who may not have considered higher education a viable option will be engaged, informed, and inspired to create their own "roadmap" to college.

External Financial Aid Links

www.college.gov

Sign your Prom Note (AMSA) www.amsa.com

National Student Loan Data System www.nslds.ed.gov

Entrance / Exit Interviews

FAFSA (Free Application for Federal Student Aid)

The Smart Students Guide

NY College Savings Program

HESC (Higher Education Services Corporation)

Important Financial Aid Numbers / Codes

American Student Assistant - Stafford Loan Inquiry 1-800-999-9080

Federal Code: 007111

Federal Student Aid Processor: Duplicate SAR (319) 337-5665, Check SAR Status (800) 4-FEDAID

NYS Tap Program: (888) NYS-HESC

NYS Tap Code: 2258

NYS Higher Education Services Corp: Stafford Loan Inquiry (888) 697-4372

IRS (copies of tax returns of Form 1722): Local Number (914) 471-6662 ext.45

Selective Service: (847) 688-6888

Appeal 

Under provisions pertaining to Standards of Academic Progress, Withdrawal or Non-Attendance or Program Pursuit Regulations, students are allowed to appeal the loss of their eligibility to receive Title IV financial aid. The appeal procedures provide students who do not meet the above regulations and who have experienced exceptional or extraordinary circumstances "beyond the student's control" an opportunity to continue eligibility to receive financial aid. Appeals may be granted only where it is determined that circumstances beyond the student's control resulted in failure to satisfy the requirements and where is a reasonable expectation that the student will meet these requirements in the future.

• Students wishing to appeal the loss of their financial aid eligibility must complete and submit an Appeal Application to the Vice President of Enrollment & Student Services by the deadline indicated on the application.
• Students appealing must authorize the release of pertinent information as part of an investigation of the facts concerning the student's failure to meet academic progress regulations.
• The Faculty Governance Council has the responsibility to determine whether or not an Appeal Application is approved. Students will be notified as to the Committee's decision.

Reinstatement of Financial Aid

Students whose appeals have been denied, or how have not appealed and choose to remain at North Country Community College without receipt of Title IV federal student assistance, may request a review of their academic records after the completion of additional credit hours to determine whether the courses taken have brought them up to the appropriate standards. If the academic standard is met, eligibility for receipt of Title IV federal student assistance may be restored for subsequent terms in that year. Further, students who lost their financial aid eligibility, and do not attend North Country Community College for at least one year, may request that their eligibility be reviewed for reinstatement. Students who lose their financial aid eligibility for two different enrollment periods are no longer eligible to receive financial aid at North Country Community College.

Contact Us:

North Country Community College

23 Santanoni Avenue, P.O. Box 89, NY 12983-0089

Tel: 518-891-2915 Toll Free: 1-888-879-6222

orfinaid@nccc.edu