Evening Program Financial Aid

2015-2016 Evening Transfer Student Financial Aid
Independent Students
(23 years & older)

Columbia College Office of Financial Aid (FA) Process

  1. Apply for admission to Columbia College HERE
     
  2. File the FAFSA at www.fafsa.ed.gov  using the Columbia College federal code #003430 for the academic year of enrollment as follows:

    2013-2014 FAFSA for summer 2014 admission using your 2012 federal tax return information

    2014-2015 FAFSA for fall 2014 admission using your 2013 federal tax return information 
     
  3. AFTER being accepted, a financial aid award is mailed to the student based on their academic status and aid eligibility (SEE TABLE A)
     
  4. Student signs and returns the signed financial aid award letter to the Office of Financial Aid
  5. Student goes to Studentloans.gov  and completes the following two steps:

    A. Complete Entrance Loan Counseling

    B. Sign the Master Promissory Note

    TABLE A

Academic Status

Subsidized Stafford Loans

0% interest rate while you are enrolled in classes.

Unsubsidized Stafford Loans – Interest  rate of 4.66% (2014-2015) accrues on the loan from the time it is disbursed

Maximum Stafford Loans for an independent student enrolled FULL TIME, 12+  semester hours in an academic year

1-23 hours freshman

$3,500

$6,000

$9,500

24–55 hours  sophomore

$4,500

$6,000

$10,500

56- 89 hours junior

$5,500

$7,000

$12,500

90+ hours senior

$5,500

$7,000

$12,500

PELL GRANT – This grant is based on financial need that is determined by the information filed on the FAFSA and does not have to be repaid. The maximum award for 2013-2014 for a full time student is $5,645.

FACTS about Stafford Federal Loans

  1. If you are in default on previous federal financial aid, you are NOT eligible for any federal or state financial aid
  2. You must enroll in at LEAST 6 credit hours per semester to receive Stafford Loans
  3. You are not required to make loan payments while you are enrolled in at least six credit hours per semester
  4. If you are currently making a Stafford loan payment, once you are enrolled in Columbia College, you can request to have the loans payment deferred through the Office of the Registrar at 803.786.3672.
  5. There are 2 types of Stafford Loans:
    Subsidized Stafford Loans: 0% interest accrues while you are enrolled in classes.
    Unsubsidized Stafford Loans –an  interest  rate of 3.86% (2013-2014) accrues on the loan
  6. The amount of loan money you are awarded varies depending on the number of hours enrolled in each semester (SEE TABLE B)

    TABLE B

2015-2016

$385 per Credit Hour

Technology Fee

Books

  Part time:  6 hours

  6 x $385 = $2,310

  +$150

If the financial aid awarded for a semester has a balance remaining after tuition and fees are charged, up to $600 per semester can be used towards the purchase of books in the Columbia College bookstore.

 


  ¾  time :    9 hours

  9 x $385 = $3,465

  +$150


  Full time: 12 -18 hours

  $5,300

  +$150

Other Sources of Financial Aid

  • Some employers provide tuition reimbursement based on academic performance - check with your Human Resources Department
  • Veteran's benefits - The VA Student Checklist provides you with important information.