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Types of Financial Aid

The chart below is specifically referring to how the funds are awarded at Scottsdale Community Community College for 2012-2013.

Name of Program What is it? Who is eligible? Does it have to be repaid?
Federal Pell Grant Grant assistance for undergraduate students. Annual awards range from $602-5550 (at time of posting). Student eligibility is determined according to a congressionally mandated formula which computes the expected family contribution. Students may be eligible at less than half time. Funds are not limited. No.
Federal Supplemental Educational Opportunity Grant (FSEOG) Grant assistance for undergraduates with exceptional need; priority is given to Federal Pell Grant recipients. Annual award $1000* maximum. Eligible students must have exceptional financial need, enroll at least half time, and qualify for a Federal Pell Grant. Funds are limited and awarded on a first come, first serve basis. No.
Leveraging Education Assistance Partnership (LEAP) Grant Grant assistance for undergraduates with exceptional need; priority is given to Federal Pell Grant recipients Annual award $1000* maximum. Eligible students must be a resident of Arizona and enroll at least half time. Funds are limited and awarded on a first come, first serve basis. No.
Federal Work Study Part time employment during the academic year. Wage per hour varies based on job description. Students can work up to 20 hours/week. Annual awards vary and range up to $4000*. Eligible students must have a minimum of $2500 of need and enroll at least half time at SCC. Once they have been notified that they are work study eligible, interested students must contact Career Planning and Placement . Funds are limited and awarded on a first come, first serve basis. No.
Federal Direct Loan A subsidized and/or unsubsidized loan with a fixed interest rate of 6.8%. Annual limits range from $3,500 to $4,500. Independent students are eligible for additional loan funds; however they must contact the SCC Financial Aid Office if interested. Subsidized: Eligible students must have financial need and enroll at SCC at least half time (6 credit hours or more).

Unsubsidized: Eligible students must enroll at SCC at least half time.
Yes. Repayment of principal and interest will begin 6 months after student graduates, leaves school, or drops below half time status.

Yes. Interest is charged from the time student receives their loan until paid in full. Repayment begins 6 months after student graduates, leaves school, or drops below half time status.
Federal Direct PLUS Loan A loan available to parents of dependent undergraduate students. This is not a need based loan. Loans disbursed on or after July 1, 2006 have a fixed 7.9% interest rate. Maximum amount is cost of attendance minus any other financial aid the student is receiving. Eligible student must be enrolled at SCC at least half time and their parents must be approved through the Direct Loan credit check process. Yes. Repayment begins 60 days after the full amount has been disbursed.
Alternative Loans A loan which is available without regard to financial need. Maximum amount is cost of attendance minus any other financial aid the student is receiving. Eligibility requirements vary with each lender. You can review these different requirements at the lenders website. Yes. Repayment options vary with each lender.

 

* These amounts are specific to ScottsdaleCommunity College students.