Financial Aid Office

Frequently Asked Financial Aid Questions

1. How do I apply for Federal Financial Aid? Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov.
2. NWACC's school code? 030633
3. What types of aid does the FAFSA qualify me for? It is used to determine eligibilty for all the Federal programs: Pell, SEOG, Student Loans, Work-study and some state aid programs such as AR Academic Challenge, Go Grant and AR Workforce Improvement Grant.
4. What information do I need to complete the FAFSA? For the 2010-2011 school year, you will need the following financial information:
   • Your Social Security Number (can be found on Social Security card)
   • Your driver's license (if any)
   • Your 2009 W-2 Forms and other records of money earned
   • Your (and your spouse's, if you are married) 2008 Federal Income Tax Return - IRS Form 1040, 1040A, 1040EZ, foreign tax return, or tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia or Palau
   • Your parents' 2009 Federal Income Tax Return (if you are a dependent student)
   • Your most recent bank statements
   • Your most recent business and investment mortgage information, business and farm records, stock, bond, and other investment records
   • Your alien registration number or permanent residence card (if you are not a U.S. citizen)

   To organize your information, print and complete a FAFSA on the Web Worksheet before you begin entering your information online. Follow this link to view info online, documents needed.

5. What is the quickest way to complete a FAFSA? Online. It can take anywhere from 72 hrs to 3 weeks to process a FASFA completed online. Paper FAFSA's mailed in take about 4 to 6 weeks for the Dept of Education to process.
6. Who is eligible for financial aid? Almost everyone is eligible to apply for financial aid. Financial aid includes loans and work-study as well as grants. While not everyone is eligible for grants, everyone could be eligible for loans. The only exceptions are those who have not received a high school diploma or passed the GED test, those who are not enrolled in an eligible degree or certificate program, those who defaulted on any federal loans or have reached the maximum aggregate limit, and noncitizens on a F1 visa and those who are not meeting Satisfactory Academic Progress at NWACC.
7. Can I still apply for the FASFA right before school starts or after the semester starts? Yes! However, you must set up a payment plan with the Cashier's Office until your Financial Aid has been processed and your eligibility determined.
8. How do I transfer my aid from my current college to NWACC? Financial aid does not transfer between colleges. You must first add our school code to your FAFSA application, cancel any remaining aid at your former college and request an official transcript be sent to NWACC. We will determine your eligibility and reaward you.
9. I will be attending another college and NWACC. Can I get aid at both colleges? NO! You should apply for aid at the college you are obtaining a degree from. If you are getting an Associate degree from NWACC and transferring to another college, you will want to apply for aid at the college that you are enrolled in the most hours.
10. What is a subsidized loan? A subsidized loan is a federal loan that does not accrue interest while a student is enrolled in at least six credit hours. You must begin repaying the loan six months after leaving school or dropping below six credit hours. Interest begins accruing on the loans at that time.
11. What is an unsubsidized loan? An unsubsidized loan is a federal loan that accrues interest immediately once the loan is disbursed to you. You must be enrolled in six credit hrs to qualify and you must begin repaying the loan six months after leaving school or dropping below six credit hours.
12. How do I apply for scholarships at NWACC? Our scholarship application for 2009-2010 will be available on our website late February. Normally the deadline to apply is the first of April.

For questions/comments on this content, please contact Financial Aid.

This page was last updated on:  August 04, 2010 @ 7:04 pm