Financial aid includes any form of financial assistance that helps you pay for college. This includes scholarships, grants, work-study and student loans.

What's the difference between gift aid and loans?

Gift aid, such as scholarships and grants, does not have to be repaid, while loans have to be repaid with interest, whether or not you graduate.

How can I find scholarships?

Scholarships are available through various sources, and can be merit-based or need-based. You can find out about scholarships at Scottsdale Community College's website.

What is work study?

Work study programs allow you to work part time at Scottsdale Community College or in the community. Work study may be part of your financial aid award. Click here, on work study for more information.

How do I apply for financial aid?

The first step is to submit the Free Application for Federal Student Aid (FAFSA).

What is the FAFSA?

The Free Application for Federal Student Aid is a form that you must complete in order to apply for federal financial aid programs. To ensure you receive all the aid for which you are eligible, you should submit your FAFSA as soon after January 1 as possible.

How is my financial aid eligibility determined?

Based on the information provided on your FAFSA, the federal government will determine your family’s expected family contribution (EFC). The difference between the cost of attendance budget and your EFC is your financial need.

Most financial aid will be based on your financial need; however, some forms of gift aid, such as merit-based scholarships, and unsubsidized federal loans are not dependent on financial need.

What factors determine expected family contribution (EFC)?

Your expected family contribution (EFC) is determined using a formula developed by the Department of Education and designed to assess what a family can afford. Factors include the number of family dependents, number of children in college, income and a percentage of total assets (not including home equity).

What is a Student Aid Report (SAR)?

After filing your FAFSA, you and all of the schools you listed on your FAFSA will receive a copy of your SAR. This document lists all of the information you provided and gives you a chance to review that information for accuracy. If you have any changes to your SAR, send corrections to the address listed on the report or submit corrections on line.

What is a financial aid award?

Your financial aid award is prepared by the financial aid office and lists all the types and amounts of financial aid for which you are eligible. It may include grants, scholarships, work study and loans. You need to carefully review your award letter.

What is the difference between a subsidized loan and an unsubsidized loan?

A Subsidized Federal Stafford Loan is a need-based loan for undergraduate and graduate students. Interest is subsidized by the government – the federal government pays the interest for you while you are in school at least halftime and for a six-month grace period after you leave school.

An Unsubsidized Federal Stafford Loan is not need-based and the federal government does not subsidize the interest. Therefore, you will be responsible for paying the interest on the loan from the day it is first disbursed. You can, however, choose to defer interest payments until you leave school.

Are there any loans for parents?

Yes. Parents can get PLUS Loans to cover up the full cost of education less other financial aid received.

What is the Master Promissory Note?

The MPN is a legally binding document that sets the terms of your student loans. By signing the MPN, you are promising to repay your student loan, regardless of whether you graduate or are satisfied with your education.

Is the MPN my loan application?
No, the MPN is simply the promissory note. Rather than completing a separate application, you begin the loan process each year by answering "yes" to the question on the Free Application for Federal Student Aid (FAFSA) that asks if you are interested in student loans.

What happens if I list more than one school on the FAFSA and receive an MPN from more than one lender or school?
It is your responsibility to inform Scottsdale Community College if you will not attend to avoid multiple loan disbursements and unnecessary paperwork.

Why do I need to provide my e-mail address?
That question is optional, but by providing your e-mail you are helping the lender communicate with you more efficiently.

Who is eligible for federal education loans?

Students who are citizens or permanent legal residents and attending an approved school at least half time are eligible for federal student loans. Male borrowers must satisfy Selective Service requirements.

How much can I borrow?
The loan limits for Stafford loans have not changed. Each year, the financial aid office will let you know the loan amount for which you are eligible and give you the opportunity to accept, reduce or decline that amount.

Federal Stafford Loan Limits: Loan limits depend on your year in school and dependency status. Independent students and dependent students whose parents don’t qualify for a PLUS loan are eligible for additional unsubsidized loans.

What are the interest rates and fees on Stafford and PLUS loans?

The interest rates for both loans are variable and adjusted annually. The rate on Stafford loans is capped at 8.25 percent; the cap on PLUS loans is 9 percent.

Loans are subject to a 3 percent origination fee and up to a 1 percent guarantee fee. These fees are deducted from your loan proceeds so your disbursements will not be for the full requested loan amount.

If I get a loan, how do I get my money?

Generally, loans funds are sent in two disbursements – one at the beginning of the loan period and another at the midpoint. Review your award letter for additional information regarding your award

When do I start repaying loans?

You do not have to begin repaying your loans until six months after you graduate, withdraw or drop below half time. Remember, on unsubsidized loans interest accrues while you are in school. Although you can choose to defer interest until after your grace period, your total loan costs will be higher because accrued interest will be added to your principal balance (capitalized) when you enter repayment.

Scottsdale Community College
Financial Aid Office
9000 E Chaparral Road
Scottsdale, Arizona 85256-2626
(480) 423-6549 / Fax: (480) 423-6591