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2018-2019 General Catalog and Student Handbook > Financial Aid > Financial Aid Available

Financial Aid Available

Federal Pell Grant - A Federal Pell Grant normally does not have to be repaid. Federal Pell Grants are considered the foundation of federal student financial aid. The amount of a Federal Pell Grant awarded is based on the Expected Family Contribution (EFC), cost of attendance, enrollment status and whether the student attends school full-time or part-time and for a full academic year or less. A student may not receive Federal Pell Grant funds at more than one school at a time. A student may receive the Federal Pell Grant for up to 12 semesters or the equivalent of 6 years and not to exceed 600% for Lifetime Eligibility Used (LEU).

Year Round Pell Grant - Beginning with the 2017-2018 school year, an eligible student may receive additional Pell Grant funds in order to complete his or her degree requirements at a faster rate. An eligible student may receive up to 150% of his/her scheduled award. in order to receive these additional funds, an eligible student must be enrolled at least half-time in an eligible program, meeting Satisfactory Academic Progress (SAP) requirements and have remaining lifetime Pell Grant eligibility.

Federal Supplemental Educational Opportunity Grant (FSEOG) - FSEOG is for undergraduates with exceptional financial need. Students with the lowest expected family contributions (EFC) receive priority. Limited assistance is available to eligible students from the program. This grant is gift aid and normally does not have to be repaid.

Federal Work Study - The federal work-study program provides part-time employment opportunities to students who wish to earn money while attending college. On average, students work approximately 10-15 hours per week and may earn up to $3,000 or more per year. A student should consider whether his or her academic responsibilities will permit him or her to assume the obligations of part-time employment.

Vocational Rehabilitation - Many states offer educational assistance to students who have a significant disability. A North Carolina student should contact the Vocational Rehabilitation Division of the Department of Health and Human Services, Raleigh, NC, or in the student’s local community. A student from another state should contact the local Vocational Rehabilitation Division in his/her state.

NC Education Lottery Scholarship - A North Carolina resident enrolled in an eligible program may be eligible for this award. This award may range from $100 to $3000 and may be awarded to eligible students in addition to the Federal Pell Grant. Students must complete the FAFSA to be considered for this award.

Forgivable Education Loan for Service Program (FELS) - This program was established by the North Carolina General Assembly in 2011. This forgivable loan for service program is available to students with a desire and commitment to work in North Carolina as future teachers, nurses and allied health professionals. Information and application may be obtained online at www.cfnc.org.

NC Community College Grant (NCCCG) - A North Carolina resident enrolled in an eligible program at least half-time may qualify for this grant. This award may range from $100 to $1500 and may be awarded to students in addition to the Federal Pell Grant. Students must complete the FAFSA to be considered for this award.

NC Targeted Assistance Program and NC Less Than Half-Time Funds - This program provides limited need-based assistance to students enrolled in high demand/low enrollment programs or to eligible Vocational Rehabilitation students. To be considered for these funds, students must complete the FAFSA and meet the requirements to receive a Pell Grant, be a NC resident, and be enrolled in an approved program for a minimum of six credit hours per semester for the NC Targeted Assistance Program and at least one credit hour to be considered for NC Less Than Half-Time funds.

NC Veterans’ Scholarship - This program provides assistance to eligible dependent children (under 25 at the time of application) of certain deceased or disabled veterans. Additional information regarding this scholarship opportunity may be obtained by calling (919) 733-3851 or through the Veterans’ Scholarship website at www.doc.nc.gov/vets.

Veterans’ Affairs - Wayne Community College is providing training under Public Law 358, G.I. Bill effective June 1966; Public Law 634, the children of deceased or disabled veterans; and Public Law 894, disabled veterans and Public Law 98-525, New G.I. Bill enacted October 1984 and under the Post 9/11 Veterans Education Assistance Act of 2008. Post 9/11 veterans and service members may be eligible for the new education benefits package to include tuition and fees, a monthly housing allowance and a yearly stipend for books and supplies. Applicants interested in any of the VA educational benefits may contact the WCC Veterans Affairs Coordinator. Information is also available online at www.gibill.va.gov or by calling (888) GI-BILL ((888) 442-4551).

American Opportunity and Lifetime Learning Tax Credits - These income tax credits may reduce a family’s federal taxes. They are based on the student’s qualified educational expenses minus grants, scholarships, and other tax-free educational assistance. The American Opportunity Tax Credit (AOTC) is a new credit that replaces the Hope Credit for most taxpayers. The AOTC can be claimed for the first four years of post-secondary education up to a maximum of $2,500 per eligible student. The AOTC is available to tax filers with a modified adjusted gross Income of $80,000 or less or $160,000 or less for married couples filing a joint return The Lifetime Learning Tax Credit is available for any level of post-secondary study up to a current maximum credit of $2,000 per return. The credit is not available to single filers with a modified adjusted gross income greater than $60,000 or joint filers with adjusted gross incomes greater than $120,000. Taxpayers who file “married filing separately” are not eligible to take the American Opportunity or Lifetime Learning credit. For more information on this credit and other educational tax credits, visit the IRS website at www.irs.gov or contact a tax professional.