Financial Aid

FINANCIAL AID PROGRAMS

Grants offered at North Central are funds that do not have to be repaid. Grants are primarily based on demonstrated need and developed for students that do not possess a bachelor's degree. Students apply using the FAFSA.

Federal Pell Grant (FPELL) : A federal award based on exceptional financial need. Awards range from $400 to $4310. Awards are based on enrollment status from full to less-than-half-time depending on individual eligibility.

Federal Supplemental Educational Opportunity Grant (FSEOG): A federal award based on exceptional financial need and students who also receive Federal Pell Grants. The award amount is based on funds available each year.

Academic Competitiveness Grant (ACG): A federal award based on exceptional need and completion of a rigorous
high school program of study. An eligible recipient must have graduated from high school after January 1, 2005, be a
Pell Grant recipient, and a first- or second- year undergraduate student. Award amounts are $750 for first- year students and $1,300 for second- year students.

Michigan Educational Opportunity Grant (MEOG): A State award based on exceptional financial need and Michigan residency for 12 months. Students must be at least half-time. The award amount is determined by the College based on funds available.

Michigan Adult Part-Time Grant (MAPTG): A State award based on financial need for students enrolled from 3-11 credit hours that are considered independent students, have been out of high school for at least two years and have Michigan residency for 12 months. The award is determined by the College based on funds made available by the State each year.

Michigan Tuition Incentive Program: A State award that provides for tuition and fees to students who are under age 20, are high school graduates, or have earned a GED. The Michigan Department of Treasury, through Family Independence Agency Medicaid records, certifies eligibility for each recipient. Students must enroll in at least six credit hours per semester.

Scholarships are funds that do not have to be repaid, are primarily based on academic achievement and may or may not be based on need. Outside/private scholarships have deadlines established each academic year. Check the Scholarship Book in Student Services for applications and deadline dates.

Michigan Competitive Scholarship: A State program for students who achieve required scores on the ACT exam and have financial need. The Michigan Department of Treasury determines eligiblity and the award amount.

Michigan Merit Award: A State scholarship program awarding a minimum of $2,500 to graduating high school seniors (2006 and prior) who meet Michigan Education Assessment Program (MEAP) High School Testing (HST) scores and other criteria as determined by the Michigan Merit Award Board. The award is disbursed in two academic years.

Michigan Promise Scholarship: A State scholarship program beginning with the 2007 high school graduating class. It provides up to $4,000 for successfully completing two years of college with eligibility determined by the State based on MEAP or Michigan Merit Exam (MME) scores and other criteria.

North Central Michigan College Presidential Scholarship: Each area high school principal may nominate a graduating high school senior who will be the valedictorian, salutatorian, or have a 3.5 overall high school grade point average. The award is for full-time tuition and fees for two academic years (fall and winter semesters). The award is renewed each semester the student maintains eligiblity.

North Central Michigan College Foundation Scholarships: Through generous donations from the community, the College makes available a variety of scholarships. Many have a need component. Students should file a FAFSA along with the North Central Michigan College Scholarship Application.

Student Employment: Students file the FAFSA to be considered for Federal or State work study. Work study is need-based aid. Students receive a paycheck for the hours they work. The maximum amount a student may earn is specified. Students can learn of job openings through the Financial Aid Office.

Federal Work Study: Provides up to 20 hours per week of on-campus employment to students with financial need. Limited community services positions are available off-campus.

Michigan Work Study: Provides up to 20 hours per week of on-campus employment to students with financial need and who meet a 12 month Michigan residency requirement.

Loans: Student loans are borrowed money and require repayment with interest. Repayment begins six months after a student ceases to be enrolled half-time and be making academic progress to receive loan consideration. Students should only borrow what they realistically can repay. The approved loan amount is determined by the student's financial need, other financial aid and resources, program limits and the loan amount requested. The school, not the lender, determines the eligibility for a federal student loan. The College can refuse to certify a loan application or can certify a loan for an amount less then the student would otherwise be eligible for if the College documents the reason in writing. The College's decision is final and cannot be appealed to the federal government. Students are encouraged to also read the guide, Funding Education Beyond High School available in the Financial Aid Office or access web information at www.studentaid.ed.gov before taking out a loan. Academic history will be considered, regardless of overall GPA. Excessive withdrawals and /or incomplete grades could result in denial of funding. Students should contact the Financial Aid Office for additional information and the steps to request a loan.

FFEL Stafford Loans: For those students with financial need, the government pays the interest during school periods with a subsidized FFEL Stafford Loan. If eligible a student may receive loan funds beyond the subsidized loan limit or, if they do not have a financial need, through an unsubsidized FFEL Stafford Loan. Loan maximums are set by the government but may be limited due to student eligibility. All students, receiving subsidized and unsubsidized FFEL Stafford loans participate in mandatory entrance and exit counseling on-line. The counseling takes place prior to the first disbursement of a loan. On-line loan counseling is accessed through the College website. Loan counseling presents information regarding the responsibilities of indebtedness, repayment options and the consequence of failing to repay a loan.

Federal PLUS Loan: A student is required to file a FAFSA to be considered for this non-need based loan. The Federal PLUS loan is for parents who want to borrow money to help pay for their dependent child's education. This loan is based on the parents' credit rating.

Federal Student Loan Deferment: Deferment is a period of time during repayment of a Federal Family Education Loan Program (FFELP) loan in which the borrower, upon meeting certain conditions, is not required to make payments. The most typical deferment conditions are: continuing study at an approved school with at least half-time enrollment, unemployment, and economic hardship. Students must apply for deferment by contacting their lender.

Other Resources

Veterans: Veterans and veterans' dependents are encouraged to contact the Financial Aid Office for information about VA educational benefits. The VA Certifying Official is part of the Financial Aid staff and assists students in applying for VA educational benefits and operates as a contact person between the student and the Veterans Administration. The student must request certification each semester with the Financial Aid Office VA Certifying Official. Students are required to make satisfactory academic progress to continue receiving benefits. All changes of address, program of study and withdrawals from courses must be reported immmediately to the VA Certifying Official.

Women's Resouce Center (WRC) Funds: The WRC has limited funds available to students who are single parents, displaced homemakers and those in non-traditional academic programs for their gender. FAFSA filing is required.

Little Traverse Bay Bands of Odawa Indians: Contact the Education Department at 231.242.1492 for resources available to LTBB members.

Michigan Indian Tuition Waiver: Michigan residents who are North American Indian and are certified one-quarter blood quantum by their tribal association may be eligble for tuition assistance funding. A Michigan Indian Tuition Waiver Application from the Inter-Tribal Council of Michigan must be completed. Call 800.562.4957.

Michigan Works!: Funds are available for students in vocational programs who are economically disadvantaged, long-term unemployed or dislocated workers. Eligible students may receive funding for tuition, fees, books, supplies and mileage. For more information students should contact their local Michigan Works! office.

Petoskey-Harbor Springs Area Community Foundation: Scholarship funds for graduating high school seniors or graduates from Emmet County . Contact the Foundation at 231.348. 5820 for current scholarships and deadline dates.