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1. How do I apply for Student Financial Aid?
2. What is SMCC's Federal School Code?
3. How important is it to file early?
4. If I am only interested in an on-campus job or a loan, do I still need to complete a FAFSA?
5. My family makes too much money; why should I complete the FAFSA?
6. Can I still qualify for aid as a part-time student?
7. What happens after I submit the FAFSA?
8. If I receive my SAR, what is the next step?
9. How and when will I receive my financial aid?
10. Where can I find private scholarships?
1. How do I apply for Student Financial Aid?
All students applying for financial assistance must complete the Free Application for Federal Student Aid (FAFSA). All student aid administered by Southern Maine Community College including federal, state and institutional sources can be applied for through the timely completion of the FAFSA. Application for student assistance is filed once per academic year. March 1 is SMCC’s priority filing date.
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2. What is SMCC's Federal School Code?
Our Federal School Code is 005525.
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3. How important is it to file early?
SMCC’s priority date for filing the FAFSA is March 1. The importance of filing early and accurately cannot be stressed enough. Aid is awarded according to financial need, as determined by the FAFSA, on a first-come first-serve basis. Do not wait until you are accepted to SMCC before you file your FAFSA. Even if priority dates have passed, you can still file a FAFSA and be considered for student financial aid.
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4. If I am only interested in an on-campus job or a loan, do I still need to complete a FAFSA?
Any student who wants to be considered for any type of financial aid – grants, loans or work-study, is required to file a FAFSA.
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5. My family makes too much money; why should I complete the FAFSA?
All students, regardless of family income, will qualify for an unsubsidized Federal Direct Loan if enrolled for at least 6 credits in a semester. The first step in applying for a Federal Direct Loan is to complete the FAFSA. The annual unsubsidized Direct Loan limit for 1st year undergraduate students is $5,500 and for 2nd year undergraduate students is $6,500.
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6. Can I still qualify for aid as a part-time student?
Yes! If you are eligible for a Federal Pell Grant, you may still qualify for a smaller grant if you take as few as 3 credits in a semester. Eligibility for Federal Direct Loans requires enrollment of at least 6 credits per semester.
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7. What happens after I submit the FAFSA?
After submitting the FAFSA, a Student Aid Report (SAR) will be mailed to the student and the Federal Processor will transmit your FAFSA information electronically to SMCC. Review the SAR for accuracy and make sure that SMCC is listed as a school to receive your information. If SMCC is not listed, log on to the FAFSA website and add SMCC’s Federal School Code (005525). Once we have received the FAFSA information, we will contact you by mail or e-mail if additional information is needed.
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8. If I receive my SAR, what is the next step?
Once you have been formally accepted to SMCC by the Admissions Office, we will contact you if additional information is needed (such as copies of federal tax returns, for example). Once all required information is received and reviewed, a financial aid award letter will be sent to the student detailing your eligibility for grants and/or loans from federal, state and institutional sources. Your aid eligibility is determined by several factors: financial need (as calculated using information on the FAFSA), the number of credits you enrollment level (full- or part-time), the availability of funds, and the date your FAFSA was filed.
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9. How and when will I receive my financial aid?
Financial aid funds (grants and/or loans) are applied to student bills once student enrollment and eligibility is verified (after the add/drop period) and aid adjusted for actual enrollment. If a student’s financial aid exceeds the amount due the college, a refund for the difference will be issued to the student. The first refunds are typically issued to eligible students one month into the semester.
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10. Where can I find private scholarships?
The Finance Authority of Maine (FAME) offers a free scholarship search on their website www.famemaine.com. A free scholarship search is also available at www.finaid.org.
The Financial Aid Office frequently receives scholarship notifications from various organizations. These are posted on “My SMCC” under the “Students” tab on the “Financial Aid” link.
The US Department of Education and the Federal Trade Commission (FTC) advise students and parents to be aware of the existence of financial aid fraud. According to the FTC, perpetrators of financial aid fraud often use these telltale lines:
• The scholarship is guaranteed or your money back.
• You can’t get this information anywhere else.
• I just need your credit card or bank account number to hold this scholarship.
• We’ll do all the work.
• The scholarship will cost some money.
• You’ve been selected by a “national foundation” to receive a scholarship or “you’re a finalist” in a contest you never entered.
To file a complaint or for free information, students or parents should call 1-877-382-4357 or visit: www.ftc.gov/scholarshipscams
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