Types of Financial Aid

  • Understanding the difference between the multiple forms of financial aid will help you determine which options are best for you.

    • GRANTS are gifts that do not need to be paid back. Grant decisions are based on family income, household size, reported assets, and the number of children in college. The most common is the Federal Pell Grant that pays for tuition, fees and books, and any unused money gets paid to the student. There are also the Federal Supplemental Opportunity Grant and the S.C. Needs Based Grants.

    • LOANS are borrowed money that must be repaid with interest after you leave or graduate from school. Loans mean debt. To be financially responsible, request only what they need, not the higher amounts that may be offered.

    • SCHOLARSHIPS are gifts that do not require repayment. They can be awarded on various criteria such as academics, hometowns, gender, ethnicity or program of student. Some scholarships are even renewable from year-to-year.

    • WORK STUDY is a federal program in which students can earn money by working a part-time job at SCC. Students are limited to 20-25 hours of work per week, and have the opportunity to learn about their school from the inside. They gain valuable work experience to add to their resume and life experience for budgeting their salary.

    • VETERANS ASSISTANCE is available for US Military veterans and their families.

    • APPRENTICESHIPS, INTERNSHIPS & COOPERATIVE (CO-OP) (co-op) education offer opportunities for qualified students for paid (or non-paid) assignments in a supervised work setting and classroom.



    Student Eligibility Requirements for Federal Aid

    The following requirements are for all federal aid programs including Pell Grant, FSEOG, Federal Work Study and Direct student loans. Each program may also have additional eligibility criteria.

    Students must meet the following general eligibility requirements to receive federal assistance:

     

    • Be enrolled or accepted for enrollment in an eligible college program
    • Be a regular student, not a transient student (someone who attends another college)
    • Have a high school diploma or GED
    • Be a U.S. citizen or eligible non-citizen
    • Not be a member of a religious community that directs the program of study or provides maintenance (except for unsubsidized Direct Loans)
    • Be registered with the Selective Service (males only)
    • Not be in default on a federal student loan borrowed for attendance at any institution
    • Not have borrowed in excess of federal loan limits
    • Not owe a repayment on a federal grant or scholarship received for attendance at any institution
    • Maintain satisfactory academic progress
    • Not be enrolled concurrently in an elementary or secondary school
    • Provide a valid social security number