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2020-2021 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 and enrollment status. A student may not receive Federal Pell Grant funds at more than one school at a time. 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 - Eligible students may receive additional Pell Grant funds for the summer term even if they received a full-time award in both fall and spring semesters.  The year round Pell Grant allows students to continue enrollment through the summer and complete their degree program sooner. To receive the additional Pell Grant, an eligible student must be enrolled in at least six (6) credit hours in an eligible program and meet the minimum Satisfactory Academic Progress (SAP) requirements.

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.

NC Education Lottery Scholarship (NCELS) - A North Carolina resident enrolled in an eligible program may be eligible for this award. This award may range from $100 to $3588 and may be awarded to eligible students in addition to the Federal Pell Grant. Students must complete the FAFSA to be considered for this scholarship.

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 $2300 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 the NC Targeted Assistance Grant, a student must be enrolled at least 1/2 time for the semester.  For the NC Less Than Half-Time Grant, a student must be enrolled in at least 1 credit hour for the semester.

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.

Vocational Rehabilitation Educational Assistance - Most states offer educational assistance to students who have a disability. A North Carolina resident 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 their state.

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 (844) 624-8387 toll free or through the Veterans’ Scholarship website at www.NC4Vets.gov.

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; 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 Representative at (919) 739-6735. Information is also available online at www.gibill.va.gov or by calling (888) 442-4551.

My Career Advancement Account (MyCAA) - This program is extended to an eligible spouse of an active duty, National Guard, or reservist of the armed forces.  This is a career development and employment assistance program that provides up to $4000 to eligible spouses pursuing a license, certification, or associate degree in a portable field or occupation.  MyCAA does not cover an associate degree in General Education.  For more information, contact the WCC Business Office at (919) 739-7097 or email pds@waynecc.edu.

American Opportunity and Lifetime Learning Tax Credits -The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student. If the credit brings the amount of tax you owe to zero, you can have 40 percent of any remaining amount of the credit (up to $1,000) refunded to you. The amount of the credit is 100 percent of the first $2,000 of qualified education expenses you paid for each eligible student and 25 percent of the next $2,000 of qualified education expenses you paid for that student. But, if the credit pays your tax down to zero, you can have 40 percent of the remaining amount of the credit (up to $1,000) refunded to you. For more information on this credit and other educational tax credits, visit the IRS website at www.irs.gov or contact a tax professional.