Your Financial Aid Guide: How to Pay for College

Whether you’re a recent high school graduate or an adult learner considering whether to attend college, one of the first questions you may ask yourself is, “How will I pay for my education?” It’s an important question that may impact which school you’ll attend, the number of classes you take each semester, and other key factors of your higher education experience. Investing in a college education provides a lifetime of opportunities and enriches your personal development.

While applying for financial aid may be a new process, it does not have to be overwhelming. Between federal, institutional, and other private funding options available, there are many ways to cover the cost of your education and get you one step closer to your goals.

Through Northampton Community College’s comprehensive guide, you’ll learn about:

• Who qualifies for financial aid
• Types of financial aid
• How to apply
• Frequently asked questions

Who Is Eligible for Financial Aid?

You must be a U.S. citizen or national to receive federal financial aid. Additionally, select non-citizens, like permanent residents, are eligible for federal assistance.

International students who have relocated to the United States do not qualify for federal financial aid.

Want to see if you’re eligible? Review the U.S. Federal Student Aid website for more information.

Types of Financial Aid

1. Student loans: Similar to a regular loan, a student loan is borrowed money that you must repay after completing your education. Within this category are federal student loans and private student loans from banks, credit unions, or other lenders. Usually, federal student loans have lower interest rates and flexible repayment options and are often considered more “student-friendly” financing options.
2. Grants: A grant is money you receive for your education that does not need to be repaid as long as you meet specific requirements. Grants are typically offered according to financial need, such as the Pell Grant and Federal Supplemental Educational Opportunity Grant (FSEOG). Additionally, many states offer grants as long as you are a resident of that state. If you live in Pennsylvania, check out the PA State Grant Program.
3. Scholarships: Like grants, scholarships are considered “gift aid,” meaning they don’t have to be repaid. They are often awarded based on academic or athletic achievement, leadership roles you’ve taken on, community service, financial need, or an association with specific organizations. The school you’re attending may offer you scholarships in your financial aid package; however, you can also find and apply for scholarships from outside organizations, non-profits, or businesses.
4. Work-study programs: Work-study is part-time employment, usually on campus, that allows you to acquire real-world job experience and earn money to pay for your expenses while you’re in school. Work-study is offered as part of federal financial aid, so you must submit a FAFSA to see if you qualify. Work-study is popular and limited, so we recommend submitting your FAFSA early to be considered.

How to Apply for Financial Aid in Six Steps

Discover how to breeze through the financial aid application process in six easy steps.

We encourage you to apply for financial aid, regardless of whether you think you’ll qualify. Completing the Free Application for Federal Student Aid (FAFSA) is free (you should never pay to complete a FAFSA) and helps your school’s financial aid office determine your financial need.

1. Gather Your Documents

Before diving into the application process, gather the documents you’ll need to fill out the FAFSA:
Your Social Security number or Alien Registration Number (if you are not a U.S. citizen)

• If you’re a dependent student, you’ll need your parents’ Social Security numbers
• Tax returns
• Records of child support received
• Current balances of cash, savings, and checking accounts
• Net worth of investments, businesses, and farms

Please review the information provided by the U.S. Department of Education when completing the FAFSA form for more details.

2. Create Your FSA ID

Your next step is to create your Federal Student Aid (FSA) ID, which you will use in subsequent years when applying for financial aid. This acts as your username and password and as your legal signature, so keep it in a safe place. Your FSA ID lets you fill out and submit your FAFSA online.

Create Your FSA ID

3. Complete the FAFSA

Now you’re ready to complete your FAFSA, which is used to determine your financial aid eligibility. When you apply online, it should take you less than an hour to answer questions about your income, your family’s financial situation, and general college plans.

You’ll also need to put in the school codes of the colleges and universities that you are considering. This ensures that the financial information you include on the FAFSA is sent to them. For example, NCC’s school code is 007191. Don’t know your college’s code? Use the School Search tool on the Federal Student Aid website to find it.

The FAFSA typically opens each year on October 1. The deadline may vary based on your college or university; however, the federal deadline is June 30 each year. We recommend applying early to increase your chances of securing competitive funding opportunities like work-study.

4. Review Your Student Aid Report (SAR)

Once you submit your FAFSA, you’ll receive your Student Aid Report (SAR), which summarizes the information from your FAFSA and offers an estimate of your financial aid eligibility. This is also the document colleges and universities reference when compiling your financial aid package.

Review your SAR carefully to confirm all your details are correct. If you catch any errors, you can log in to your studentaid.gov account and start a correction, ensuring you receive your aid promptly.

Sometimes, your college or university may require you to provide additional information to help them determine your financial aid package. It is important that you respond to any requests promptly so that your financial aid package is not delayed.

5. Receive your Award Letter

After receiving your SAR, your school will process your information to determine the types and amounts of aid you can receive. Once determined, they’ll send you an award letter, or financial aid offer, which outlines the grants, student loans, and work-study opportunities for which you qualify.

Your letter will also include the “cost of attendance,” which estimates the cost of one academic year, including tuition and fees, housing and food if you plan to live on campus, personal expenses, and more.

If you’ve applied to numerous colleges and universities and have been admitted, you can expect financial aid offers from each institution, and they may be different. This allows you to compare which school’s aid packages best suit your needs.

6. Accept or Decline Your Aid

To make it official, you must accept or decline your financial aid award from the school you plan to attend. Your school should provide clear instructions once you’ve received your admissions offer and submitted your deposit. Typically, you can accept or decline your aid online by logging in to your student portal and proceeding from there. You also have the option to accept or decline individual pieces of the aid package. For example, if you qualify for a grant and a student loan, you may accept the grant and decline the loan if you think the grant is sufficient.

If you have any questions about your award letter, please contact the school's financial aid office. Their staff can help you understand all the critical information in your aid letter and ensure you invest in your education with confidence.

Financial Aid FAQs

What Can Financial Aid Be Used For?

You can use your financial aid to pay for a broad range of expenses, including:

• Tuition and fees
• Books and other supplies
• Student housing
• Meal plans
• Transportation

Does Financial Aid Cover My Summer Classes?

In some cases, your financial aid may cover the cost of your summer courses. If you have funds from your student loans or grants left over from the academic year, you can apply these to your summer classes.

In some cases, you may have to submit a separate FAFSA to receive federal aid for summer classes, so be sure to check with your school’s financial aid office.

Overall, it’s best to regularly check in with the financial aid experts at your school. They’ll be able to help you evaluate your financial aid offer and its specifications and plan your course load accordingly.

Do I Have to Pay Financial Aid Back?

The answer depends on what types of financial aid you rely upon. If most of your aid consists of student loans, then yes, you must pay those back. The terms of your loan and the interest you accrue may determine how soon you must repay those loans and how frequently you must make payments.

If you have scholarships and grants covering your expenses, you will likely not have to pay them back. Keep in mind that if you do not meet specific criteria for your grants, such as enrolling in the specified number of credits, withdrawing from your courses, or accepting additional financial assistance, you may be required to repay the money you received as a grant.

Learn more about how to maintain your federal grant eligibility.

Invest in Your Success—Study at NCC

As one of Pennsylvania’s leaders in affordable education, Northampton Community College empowers you to reach your goals. Here, you can choose from 120+ academic programs designed to enrich your skills and receive the support you need from our financial aid office.

Motivated by our goal of helping you and other students graduate with little to no debt, we offer competitive tuition rates and generous financial aid packages to keep the cost of your education low. We proudly distribute an estimated $53 million in aid each year, including almost 1,000 scholarships, demonstrating our practical commitment to accessible education.

Whatever your plans for the future, NCC can help you chart your path to success.
Ready to become a Spartan? Take the next step by reviewing our admissions information.