Financial Aid Info & Disbursement Guide

2014-2015

For Eligibility for Financial Aid at DCCC, its necessary to:

1. Be accepted at DCCC in a Title IV-eligible program (this includes all Associate Degree programs at DCCC, and a limited number of Diploma and Certificate programs).  

2. Provide proof you have earned a recognized HS diploma or High School Equivalency.

  • High School completers, provide an officially signed and dated final transcript, showing graduation date.
  • High School Equivalency completers, provide an official final score report (may accompany the High School Equivalency certificate OR an official copy of your score report from the state agency where it was completed.
3. Complete the FAFSA (listing DCCC) for the appropriate award year and submit any requested documents or information to complete your review process by the priority deadlines posted below.
   

Fall 2014

Spring 2015

Summer 2015

FAFSA: June 1 FAFSA: November 1 FAFSA: April 15
Paperwork: June 15 Paperwork: November 15 Paperwork: April 15
  • You may apply after the deadline, but must pay your own enrollment expenses to begin unless financial aid is awarded by the tuition deadline (or bookstore charging dates).  DCCC will continue to process financial aid applications and award eligible students throughout the term.              

4. Maintain Satisfactory Academic Progress for academic eligibility which requires that you:

  • Maintain a cumulative Grade Point Average (GPA) of 2.0 or higher, 
  • Successfully complete 67% (2/3rds) of the cumulative hours you have enrolled in,  
  • Complete your program within 150% of its required number of credit hours. 
  • Attempt no more than 30 hours of pre-curricular (developmental) course work  
5. Not receive financial aid at another college for the same time period (or you must return FA funds).
 
6. Not exceed the Pell life-time limit (6 years full-time equivalent or complete 1st bachelor’s degree. State Grant funds also have time limits.)

Financial Aid Awards:

1. Students are notified through their DCCC student e-mail of 2014-2015 financial aid awards once eligibility is determined. 

  • Students are directed by e-mail to DCCC StormTrac to view the Financial Aid Award Letter.
  • Financial Aid by Term and Financial Aid by Year on StormTrac will indicate what types of financial aid have been accepted (“A”) or simply offered (“O”), what terms will be funded, and the maximum estimated amounts for each.
  • Student Loans appear on the award letter as an “Offered” resource. To accept loans, students must complete the required Direct Student Loan STEPS for NEW or RETURNING borrowers at DCCC at www.davidsonccc.edu/financial-aid/student-loans. The loan is accepted only after completion.
    • Student Loan requirements (all steps & forms) need to be completed by the 15th of the month to be paid out on the following month’s scheduled disbursement (ex. Aug. 15 for Sept. 20 OR Jan. 15 for Feb. 21)
    • Fall loans are not to be processed after Nov. 15, 2014.  Spring loans not processed after April 15, 2015 and Summer loans not processed after June 15, 2015.
  • Awards amounts are estimates based on full-time enrollment, but actual amounts will depend on the level of enrollment and adjusted appropriately.
  • Enrollment levels are frozen prior to the first payment period for each term for calculation of FA awards. Any classes added/registered after that date will NOT be reflected in financial aid funds and the student is responsible for paying for any additional tuition and books for the added class(es).
  • The following are enrollment levels for state and federal financial aid for all terms (including summer).
Full-Time 12 (or more) credit hours
3/4 Time 9-11 credit hours
1/2 Time* 6-8 credit hours
Less than half time (LTHT) 1-5 credit hours

*Most awards require at least ½-time enrollment

  • Cosmetology, Esthetics BLET and 1st year Therapeutic Massage students are all in clock-hour payment programs and award amounts are prorated and timed differently for those students.
  • Financial Aid will not pay for: Audits “AU”, Credit by Exam "CE", Transfer Credits, No Shows “NS”, Dropped “D” classes before the 10% census date, Deleted or Cancelled classes “X”, or 2nd repeats of previously passed classes.

2. Awards are generally made for Fall and Spring semesters only, Summer term is not funded.

  • Students required to attend summer classes should SAVE prior refunds to cover costs or must self-pay to attend.
  • If you have not used 100% of your annual Pell award for fall and spring terms, you may receive a summer Pell award. You must notify the Financial Aid of your summer plans so the award may be adjusted. 
  • Community College Grant (NCCCG) and NC Education Lottery Scholarship (NCELS) are available Fall and Spring terms only to NC Residents who are enrolled at least ½-time.  There are no State awards in summer.

Registering and Charging Tuition and Books:

1. Students work with an Academic Advisor to plan and register for required classes.
2. Students who have financial aid completed and awarded by the tuition payment deadline will have tuition held to prevent the classes from being dropped for non-payment.
3. Students who have financial aid completed and awarded by the bookstore charging period will be able to charge books and required supplies with a printed class schedule and a photo ID. They may be ordered online from our bookstore as well.

Dates to Charge at DCCC Bookstore

Fall Semester August 11-22, 2014
Spring Semester January 5-16, 2015
Summer Term May 26 - June 5, 2015

*All purchases and returns/credits back to the FA account at the DCCC Bookstore must be done within the charging window for the term.  The 30-Day bookstore return/refund policy applies to out of pocket purchases only.

Disbursement (Payment) Of Remaining Financial Aid Funds

1. Financial Aid disbursements are made AFTER enrollment and attendance is confirmed. This requires 30-45 days to confirm the information and process funds.

  • For any classes beginning after the first 2 weeks of the term, financial aid for those late-start credit hours will be delayed until enrollment is confirmed the following month.  There is monthly reporting.
  • Loan disbursements are made after confirmation of enrollment in 6 credit hours (1/2 time).

2. Once enrollment levels are confirmed, DCCC requests financial aid funds and the Business Office first pays tuition, fees, and bookstore charges. 

  • If costs exceed the amount of available aid the student is responsible for the remaining balance.

3. After educational charges are paid, remaining financial aid funds will be transmitted to a Discover Debit Card.  Students receive one card that they will use every term thereafter.

  • First time FA recipients at DCCC will be mailed a card 1 week prior to the disbursement of funds.
  • Cards must be activated and kept secure as they are used each term for FA payments.
  • Cards may be used anywhere Discover card is accepted (grocery, gas, banking, ATM’s, etc.).
  • A fee-free ATM is available for use in the Brooks Student Center lobby for payment card holders.

Financial Aid Disbursement Dates

  Fall 2014 Spring 2015 Summer 2015
1st Disbursement September 26, 2014  February 20, 2015 July 2, 2015
2nd Disbursement October 24, 2014 March 20, 2015 July 17, 2015
3rd Disbursement November 14, 2014  April 24, 2015  N/A
4th Disbursement December 12, 2014 May 15, 2015 N/A

Policy for Student's Return of UNEARNED Financial Aid Funds:

  1. Students must attend/participate in classes to earn financial aid funds (grants and loans). 
  2. Students who cease to complete the term, either by officially withdrawing or dropping, or who do not formally withdraw but stop attending or participating will be reviewed for a possible return of Financial Aid funds. 
  3. The Financial Aid Office must calculate the portion of financial aid that has been earned by a student.  If the calculation results determine the student did not attend past the 60% date of the enrollment period, the unearned portion must be returned to the US Department of Education.
  4. Students will be notified by DCCC student e-mail and can view billing on StormTrac for required payment of unearned financial aid and if a Return of Funds is required it must be paid within 45 days of notification.
  5. Failure to repay unearned financial aid funds will prevent further financial aid, reenrollment at DCCC, the ability to receive transcripts and possible transfer of billing to a collections agency.
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Financial Aid Office

B.E. Mendenhall Jr. Building

Hours of Operation:
Monday & Tuesday: 8 a.m. - 6 p.m.
Wednesday, Thursday, Friday: 8 a.m. - 5 p.m.

Call Us: 336.249.8186, ext. 6393
Fax Number:
336.224.0240
finaid@davidsonccc.edu

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Financial Aid Deadlines

Spring 2015:
FAFSA Application: November 1, 2014
FAFSA File Completion: November 15, 2014
Admissions Application/Placement: Dec. 1, 2014

Summer 2015:
FAFSA Application: April 1, 2015
FAFSA File Completion: April 15, 2015
Admissions Application/Placement: May 10, 2015

Fall 2015
FAFSA Application:
June 1, 2015
FAFSA File Completion: June 15, 2015
Admissions Application/Placement: August 1, 2015
Classes will begin August 17