• Financial Aid


    ACC Financial Aid Presentation (October 2019)


           Click HERE to access PowerPoint



    A variety of need-based grants, loans, and work study opportunities are administered through the federal and state governments.  Students become eligible for these sources of aid by filing the FAFSA (Free Application for Federal Student Aid) form beginning October 1 of their senior year.
    Loans can also help students pay for college.  Loans are available through many schools and other organizations and must be repaid.  

    Before borrowing a penny, it is a good idea to call the financial aid office of your college to ask if the college participates in the Direct Student Loan Program. If they do, the college can set up your loan, rather than having to apply at a bank. If the school does not participate in this program, then you will have to apply for these lower interest loans through a bank. Most banks participate in the Stafford Loan program, so you might want to start with your own bank. Since some of these federally subsidized loans have loan limits, you might not be able to borrow enough to cover all of your college costs. Never fear, another program, the PLUS loan, will allow your parents to borrow any remaining costs not covered by your financial aid package.

    FAFSA or Free Application for Federal Student Aid

     What It Is  

    The FAFSA or Free Application for Federal Student Aid is an application form used to determine a student's eligibility for state and federal need-based grants, loans, and work study programs.

    When To File  

    The FAFSA cannot be filed until after January 1 of the year you intend to begin college, since the information required for the form is based on your previous year's tax information. Even though you might not have all of your tax information on January 1, you can still send in the FAFSA by supplying estimated information which you can correct later. However, waiting until you have received your tax information is the best way to complete the form. If you can send in the form by February 1, there will still be money available should you qualify for any of the programs.


           FAFSA Video


    How It Works  

    * You send your completed FAFSA to the application processors (your FAFSA will contain the name and address of your regional processor). You can also apply online at FAFSA.ed.gov. A link to this site is found at the bottom of this page.

    * The regional processor scans in your data and transmits it to the central processor system or CPS.

    * The CPS matches your application information against several national databases to verify your eligibility for aid. For example, it checks your Selective Service status, your Social Security Number, and your citizenship status.

    * The CPS checks your data for inconsistencies.

    * The CPS evaluates your finances and calculates your Expected Family Contribution or EFC.

    * The CPS incorporates your EFC into a multi-part eligibility document called a Student Aid Report or SAR.

    * The CPS sends you a copy of your SAR. You check it over for accuracy and report any errors. This is the form you use if you originally sent in estimated data.

    * The CPS transmits your data to all colleges you list on your FAFSA.

    * The CPS transmits your data to your state higher education agency.

    * Based on the information received through this process, your college sends you a financial aid award letter.

    Ways To File

    *Get your FSA ID first.  The FSA ID is your electronic signature. https://fsaid.ed.gov

    * FAFSA on the Web will create an electronic record of your application and transmit it to the Department of Education over the Internet. To access FAFSA on the Web, click here now: http://www.fafsa.ed.gov/.  Do not be fooled by fafsa.com, which is a website that uses the FAFSA name to lure you to their site and then tries to get you pay for scholarship information. Alvin ISD does NOT endorse fafsa.com. If you choose to file the FAFSA online, first you will need to get a ID, or number that allows you to sign your FAFSA electronically. You can obain your PIN atwww.pin.ed.gov

    * Paper FAFSA can be obtained from FAFSA by going on line to request one.  The federal government no longer sends paper versions to the high school. 


    Determining Your Financial Need

    Determining Your Estimated Family Contribution

    Need analysis is a standardized process of evaluating financial ability to pay for a college education. If you are applying for any financial aid based on need, you submit need analysis information, usually through the FAFSA form, but some colleges use a form called PROFILE and some use their own form. Call the financial aid office of your college choice to find out which form(s) are used. The information is evaluated using a method approved by the U.S. Congress. The analysis results in an amount called the Expected Family Contribution or EFC. The EFC, then, is the amount of money a student and their family are expected to contribute to the costs of attending college. The colleges then use this EFC to determine the Financial Aid award they will offer. Many colleges will estimate your EFC if you call the financial office. This will give you a ballpark figure on which to base your college costs.


    Determining Your Financial Need

    Your financial aid administrator at the college calculates your cost of attendance and subtracts the amount you and your family are expected to contribute (EFC) toward that cost. If there is anything left, you are considered to have financial need. In other words The cost of attendance minus the Expected Family Contribution equals Financial Need.


    Determining Your Financial Aid Package

    The college then decides how much of this need will be met by federal grants, scholarships, loans, and/or work study. Remember that each college puts together their own award package based on that particular college's financial structure. So even though all of the colleges receive the same information (EFC) from the FAFSA, they will package your financial aid award differently. That is why you are likely to receive a larger award package from a private college that has a large endowment and a smaller package from a state university that has little or no endowment funds.



    This organization has put together some resources to aid students and parents.  They are worth checking out.
    Financial Aid Process         http://www.debt.org/students/financial-aid-process/
    College Budgeting 101        http://www.debt.org/students/college-budgeting-101/


    Links for Financial Aid Information



    U.S. Department of Education - Information about federal student aid

    FAFSA on the Web: Do not confuse this site with fafsa.com, which is a website that uses the FAFSA name to get you pay for scholarship information.

    Federal Student Aid Information - Related to the above website

    Register for a FSA ID for filing the FAFSA electronically

    Financial Aid Guide for Students with Disabilities - www.BestColleges.com  



    Which financial aid application should you use?

    There are many different applications for people with different statuses. Choose the one that best applies to you:

    If none of these above apply to you but you are classified as a Texas resident and therefore are eligible to pay the Texas in-state tuition rate, use this 2020-21 TAFSA Application or 2020-21 TASFA Application Spanish Version (Texas Application for State Financial Aid). To use this application, your classification as a Texas resident must not be due to a waiver such as an in-state scholarship or an assistantship. 




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