Financial Aid FAQs

Learn about financial aid through these short videos and frequently asked questions.

Financial Aid Eligibility

How do I maintain federal financial aid eligibility in declared program of study?

How do I maintain federal financial aid eligibility in declared program of study?

Federal regulations limit aid to the cost of courses in your declared program of study.  Federal financial aid effected by this regulation includes Pell, SEOG and Teach grants, Federal Direct Stafford and Plus loans, and Work-Study programs.  Currently this regulation does not apply to state or privately funded scholarships.  To see what type of financial aid you have, log in to MyMC.

Federal financial aid is awarded based on a student's enrollment status and will be prorated if the student is taking fewer than 12 credit hours a semester.  When determining enrollment status (see the definition below), the US Department of Education counts only the hours taken that are in a student;s declared program of study.  Previously passed courses in your declared program of study may be retaken one time only and still count towards enrollment status.

Enrollment Status Definitions:

Full-time status - registered for 12 credits or more in the declared program of study

Three-quarter time status - registered for between 9-11 credits in the declared program of study

Half-time status - registered for between 6-8 credits in the declared program of study

Less than half-time status - registered or 5 credits or less in the declared program of study

 

Program of Study

What is my Program of Study, how do I change it, and how does it impact my financial aid?

What is my Program of Study, how do I change it, and how does it impact my financial aid?

What is my program of study (POS)?
Your program of study (POS) is your declared major.  To see what your declared POS is, run your degree evaluation by logging in to MyMC.  You'll find the tool under:  Registration, Apply for Graduation, Registration Tools, Degree Evaluation.

How do I change my POS?
If you would like to change your POS, complete the Change of Major, Program of Study, Curriculum form and turn it in to the Office of Admissions and Records.

How do I know which classes are in my program?
Run your degree evaluation by logging into MyMC.  You can find the tool under:  Registration, Apply for Graduation, Registration Tools, Degree Evauation.  After you choose the current semester, click "Generate New Evaluation."

Are developmental courses counted in my enrollment for financial aid?
Yes, up to 30 credit hours of developmental courses may be considered part of your program of study.

Are American English Language Program (AELP)/ESL courses included in my declared program of study?
Yes, all AELP/ESL courses are included in your declared program of study.

My course is required for my program, but it isn't counting in my enrollment hours.  What can I do?
Contact the Advising and Counseling department.

I'm enrolled full-time, which is required for my scholarship, but not all registered courses are in my declared program of study.  Will I still be able to get my scholarship?
Yes institutional and state scholarships are not considered federal financial aid.  All of the hours you are registered for will be counted in your enrollment.  Currently, federal financial aid is the only type of aid that is limited to your declared program of study.

I am registered for six credit hours, three of which are in my declared program of study.  Am I eligible for Federal Direct loans?
No, you must be enrolled for a minimum of six credit hours in your declared program of study to qualify for Federal Direct Stafford or Plus loans.

I am required to enroll in electives for my declared program of study.  How many of them will federal financial aid pay for?
Federal financial aid is limited to the specific number of electives identified by your program of study.

I was registered for nine credit hours, six of which are in my declared program of study.  I withdrew from the six credits that were in my declared program of study.  Will my federal financial aid be effected?
Yes, federal financial aid may be prorated based on the time of withdrawal from the classes in your declared program of study.

Can I still repeat a class that financial aid won't cover if I'm registered full-time with other classes in my declared program of study?
Yes, as long as you are taking a minimum of 12 eligible credit hours in your declared program of study, you will be considered full-time for financial aid purposes.

I made a D in my class, but my major requires a C.  How many times can I retake it, and will it count towards my enrollment for financial aid?
For federal financial aid purposes, a D is considered passing.  You may retake the class one time, and it will be counted in your enrollment.

If I withdraw from the class that I previously passed, will that count as my retake?
If you officially withdraw from the class before completing it then it is not counted as your one retake.

If I fail the class that I previously passed, will that course count in my enrollment again?
Retaking a previously passed course and failing it will count as your one retake.

How many times can I repeat a failed class?
You can repeat a failed class until you pass it; however, in order to maintain Satisfactory Academic Progress (SAP) you must earn 67% of all classes you attempt and maintain a cumulative GPA of 2.0.  You can view the SAP policy in MyMC.

Satisfactory Academic Progress (SAP)

What is SAP and how does it impact my financial aid?

What is SAP and how does it impact my financial aid?

Answers can be found in this financial aid video.
Financial Aid at two colleges

Can I receive financial aid at Montgomery College and another college at the same time?

Can I receive financial aid at Montgomery College and another college at the same time?

Attending more than one college at the same time is covered by the Consortium Agreement.

What is a Consortium Agreement?
It is a written agreement between institutions used to track a student's total credit hour enrollment when a student is simultaneously attending two different institutions.  It is important to note that a student cannot receive most types of financial aid from more than one institution during the same semester.

Who is involved in a consortium agreement?
The student and both of the schools are involved in the consortium.  The school where the student will receive a degree is the home school.  The other schools is the host school.

How does it work?
The student initiates the process by contacting the home school's financial aid office and following their procedures.  The home school then contacts the financial aid office at the host school to certify the hours the student is taking.  The request is usually processed by Montgomery College within 72 after it is received.

Who is responsible for the bill at the host school?  Does financial aid transfer?
The student is responsible for the bill at the host school.  The bill can be paid by any refund the student receives at the home school or directly by the student. Financial aid does not transfer directly between schools. If the bill is due before  aid is processed, the student is still responsible for the bill.  

Does a consortium agreement give me additional financial aid?
In some circumstances, a consortium agreement may allow for additional financial aid eligibility.  For example, if a student is taking nine hours at his home school, his financial aid will be processed for three-quarters time.  But if the student is taking three hours at another institution, the consortium agreement will allow the home school to add three hours to the nine hours and process the financial aid as full-time.  the consortium may increase the cost of attendance of s student if the program at another school has higher expenses (such as study abroad fees) but it does not guarantee additional aid.

 

Registration and Financial Aid

Will my seat in a class be saved while I wait to hear about financial aid?

Will my seat in a class be saved while I wait to hear about financial aid?

When completing your financial aid application if you submitted a class reservation form, Financial Aid will hold your classes pending a final determination of your financial aid eligibility. If you have already registered or when you register your classes will not be deleted for nonpayment. If you do not wish to attend Montgomery College, you must officially withdraw from classes in person or on the web. If you do not withdraw from classes, you will owe a bill for tuition and fees.

Your estimated financial aid may not be large enough to cover all of your tuition, fees, and books. You will be responsible for paying whatever charges the award does not cover. If our final determination is that you are not eligible for some or all aid, you will be responsible for all of the charges that were not covered.

You must attend your classes to remain eligible for any financial aid award. Do not wait to receive the final decision on your award to attend classes. If you have officially registered, you must attend your classes.

Books

How do I get my books?

How do I get my books?

Students who receive financial aid in excess of their charged tuition and fees who have given approval through the Cash Management Form may use their funds to pay for required books and supplies at any MC Books and More. If the only financial aid you receive is a Board of Trustees grant or other tuition-specific award, you do not qualify for a book credit. Book credits are processed automatically for eligible students in August for fall semester, in January for spring semester, and in May for the summer session. Check MyMC prior to the beginning of the semester to see if you qualify. Book credit eligibility and use of book credits at MC Books and More ends approximately two weeks into the semester.
Withdrawing from class

How will withdrawing from class effect my financial aid?

How will withdrawing from class effect my financial aid?

You must attend all of your classes in order to receive financial aid. The Office of Student Financial Aid must document your attendance in classes. Your financial aid may be canceled if proof of your attendance cannot be provided, even if you have not officially withdrawn from school and still owe a bill for tuition and fees. Non-attendance is considered an unofficial withdrawal from school. Attendance in on-line classes is documented through submission of academic assignments, completion of exams, or actual participation in on-line discussions about academic matters.

If you receive financial aid from federal Title IV funds and completely withdraw from MC, the college returns your funds to the proper financial aid accounts on a proportional basis. Title IV funds include Federal Pell Grant, FSEOG, TEACH Grant, FWS, and Federal Direct Loans. You may owe a bill for tuition and fees to the college after we reduce your financial aid. Your official withdrawal date may be the date you process the withdrawal, or the documented date you stopped attending classes. Contact your campus financial aid office for examples of how this process affects the repayment of financial aid.

Withdrawing from classes, dropping classes, or failing classes can have an effect on your satisfactory academic progress and ability to receive future financial aid.

Your bill and financial aid

How does financial aid pay my bill?

How does financial aid pay my bill?

The college disburses financial aid awards on a semester basis. We credit all financial aid proceeds, including student loans, to your student account at the College. The awards pay for all outstanding tuition and fees for the semester awarded, and may pay for charges in the previous semester if it is within the same academic year. Students with awarded financial aid in excess of their charges for tuition and fees will have a book credit automatically processed for the campus bookstores. These can be viewed on-line at MyMC. The college will deduct the book charges from your financial aid.

If you have a credit balance after all outstanding obligations are met, the college will issue you a refund check. You may receive direct deposit of your financial aid refund to your bank account by signing up for "e-refund" on MyMC. The college begins sending refunds of any balance remaining after all your charges are paid approximately four weeks after the semester begins, if your aid is awarded and credited to your bill. Awards from differing sources may credit to your account at different times. Also, your awards may be adjusted if your enrollment changes. Sometimes the amount of your financial aid is not enough to pay your entire semester bill at the College. If you have an amount of financial aid referenced on your semester bill that is enough to cover your fees, your classes will not be deleted for the semester at the time payment is due. You must still pay the balance of your bill. If you need additional financial aid to pay your bill, you may want to consider accepting a Federal Direct Loan, if you have not already done so. Students are responsible for all charges not covered by financial aid. If financial aid is referenced on your semester bill and you determine that you do not wish to attend MC for the semester, you must officially withdraw from any classes you have registered for prior to the refund date in order to not be liable for those charges.

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