Northeastern Junior College

Types of Aid

I received my Award Letter. Now what?

Your award letter will list the types of Grants, Loans, and possibly Work Study options you have available. You must accept or decline the loan amounts you have been awarded. Pell and/or Colorado Student Grant will be accepted automatically.

Click the award types below to learn more about each type of award

Grants

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Grants are considered gift assistance and are provided from Federal, state, and institutional sources.  In general, students must be enrolled in a minimum of six credit hours per semester in order to receive funds from most of the following programs. 

The following grant programs are available at Northeastern Junior College.

Federal Pell Grant (PELL) Program

This program is designed for undergraduate students who do not have a bachelor's or professional degree. The U.S. Congress determines the amount of the Federal Pell Grant.

To apply for a Federal Pell Grant, complete the Free Application for Federal Student Aid (FAFSA).  This can be done on-line through FAFSA on the Web.  To determine an applicant's eligibility, the U.S. Department of Education uses a standard formula, established by the U.S. Congress, to evaluate the information reported on the FAFSA.  This formula produces an Expected Family Contribution (EFC) number.  The applicant will receive a Student Aid Report (SAR) that informs the applicant of the EFC and whether or not they are eligible for the Pell Grant.  The amount of the Pell Grant is determined by the EFC, cost of attendance and the number of credit hours for which the student enrolls. NJC will credit the Pell Grant to the student's account.

Federal Supplemental Opportunity Educational Opportunity Grant (FSEOG) Program

This program is for undergraduate students with exceptional financial need, that is, students with the lowest Expected Family Contribution (EFC) and gives priority to students who receive Federal Pell Grants.  Student must be enrolled in a minimum of six credit hours each semester to receive this grant.  To be considered students must complete the FAFSA by March 1. There is no guarantee that every eligible student will be able to receive the FSEOG; students are awarded on a "first-come, first-served" basis and on the availability of funds.  If a student receives the FSEOG, the funds will be credited to their student account.

Colorado Student Grant (CSG) Program

This program is funded by the State of Colorado General Assembly.  The primary purpose of this grant is to provide financial resources to Colorado resident undergraduate students who would otherwise be unable to pursue post secondary education. 

Estimated Awards

Name of Grant Amt/year (if eligible)
Federal Pell Grant $595-$5730
Federal Supplemental Educational Opportunity Grant $200-$4000
Colorado Student Grant $1000-$2000

Loan Programs

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Student loans are available to help offset educational expenses for the specific academic period.  Borrowing through student loans should be your last alternative.  You should exhaust all other resources of financial assistance, including scholarships, state grants, and campus student employment before applying for a student loan.  Applying for a student loan too early may limit or exclude you from receiving grants/scholarships.

Student Loan Repayment Services

Northeastern has teamed up with Solutions at ECMC to answer all of your student loan repayment questions.  Solutions is a service of the non-profit organization ECMC and is dedicated to helping students manage educational loans.  Their resources are available to you free of charge.  To contact a Solutions Student Loan Repayment Advisor, email or web chat, or call them at 1-877-331-3262.

NJC participates in the William D. Ford Direct Stafford Loan Program, which means all funds are borrowed directly from the government.  This loan program includes the Federal Direct Stafford loan (Subsidized and Unsubsidized), and the Federal Direct PLUS loan.  Stafford loan funds can be used for education-related expenses such as tuition, fees, books, living costs, transportation, childcare, etc.  These loans must be repaid either after the student has graduated or stopped attending classes as a half time student (6 credits).

To be eligible for these loans you must:

In addition, Subsidized and Unsubsidized loans require you to:

Subsidized Loans: are interest-free while you are enrolled in school at least half-time in a degree seeking program.  This loan is available to students who have demonstrated financial need. Loan payments begin six months after you complete your degree or drop below half-time.

Unsubsidized Loans:  accrue interest while the student is enrolled in school and during the repayment period.  This loan is not based on financial need. Loan payments begin six months after you complete your degree or drop below half-time.

Parent Plus Loans:  are for the parents of dependent students.  Parents may borrow up to the cost of attendance per child (minus other aid).  Repayment typically begins sixty days after the final disbursement for the period of enrollment for which you borrowed.  Plus loans are usually less expensive than private student loans.  Plus loans are based on a credit check, if it is denied the student usually becomes eligible to borrow up to $4,000 in additional Unsubsidized Stafford Loan.  This additional Stafford loan cannot exceed the student’s Cost of Attendance minus all other aid (including other loans).

www.studentloans.gov

To apply for a student loan you must have a completed financial aid file at NJC.  After your financial aid eligibility has been determined, you will need to complete entrance counseling and a master promissory note or your loan will not disburse to your account.

Loans are an effective method to fund your education.  However, there are a few things you should consider before borrowing a loan:

When you borrow a loan, you are accepting the responsibility of repaying the loan plus interest.  The specific amount of money you borrow is the principal.  Interest is a percentage of the principal, which your pay as a fee for borrowing.  When it comes time to pay back the principal and interest you usually pay in monthly installments.  If you fail to repay (or default) the government may penalize you.

It is your responsibility to know all of the terms and conditions!

Estimated Awards

Name Amount Rate

Federal Subsidized (need based)

OR

Federal Unsubsidized (for those not eligible for above)

$3500 Freshman
$4500 Sophomore

$3500 Freshman
$4500 Sophomore

4.66% Fixed

4.66% Fixed

Federal Unsubsidized Loan (without regard to need)

$2000 Dependent

$6000 Independent

4.66% Fixed
Federal Parent Loan for Undergraduate Students (PLUS) Cost of Attendance minus other aid 7.21% Fixed

Work-Study Programs

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Federal (FWS) and State (CWS) Need-Based Work-Study

NJC participates in two work-study programs with award amounts based on the students documented need.  These programs provide part time employment for the eligible student to earn money to fund their education.  Students must indicate on the FAFSA that he or she wants to be considered for this award.

Work-study positions are located on NJC's campus.  Positions are also available to tutor elementary students at various community schools, work at the Logan County Justice Center in Probation or District Court, and other non-profit agencies located in and around the Sterling area.

Students earnings are restricted to the amount of their award

Colorado No-Need Work-Study Program (CONN)

 The State of Colorado provides limited funds for employment of students who do not necessarily have a financial need.  Applicants must be Colorado residents for tuition purposes.  Students' earnings are restricted to the amount of their award. 

Estimated Awards

Allotment per year $400-$2650
Hourly Rate (Average) $8.25-$7.95
Hours Worked 8-10/week

If you would like to be considered for a work study, you must complete a FAFSA and apply for a position on the work study website www2.njc.edu/workstudy available after April 1, 2012.

Scholarships

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Scholarships are an excellent way to help cover the cost of an education.  There are many scholarships available, but you may need to do some research to find them.  Your high school counseling center is one source of information.  The Colorado Council on High School/College Relations Handbook, local libraries, churches, parent's employer, local service civic organizations, and the Internet are other good services.

Northeastern Junior College annually awards scholarships to incoming freshmen and many of these are renewable.  To be considered for a scholarship, a student must first apply for admission.  The admissions and scholarship applications must be submitted by March 1, prior to fall enrollment.  There are also scholarships that may require a separate application, portfolio, personal interview or tryout.

For more information regarding NJC's scholarship opportunity please refer to our Scholarships page.

Colorado Merit Scholarship

This program is funded by the State of Colorado General Assembly so you must be a Colorado Resident and meet the individual criteria outlined on the scholarship application.

Other Resources

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Veterans Benefits:
 Northeastern Junior College works with the Veterans Administration to assist in administering the provision of the various programs of benefit to veterans or eligible relatives of veterans.  The NJC Financial Aid Office certifies enrollment, submits applications, and transmits necessary credentials and documented     Information to the proper Veterans Administration Office.

Vocational Rehabilitation Benefits:
There may be funding available to assist students in need of vocational/occupational rehabilitation because of physical or emotional handicaps.  These funds help to cover the cost of tuition, fees, books, supplies,      maintenance, medical services and transportation.  You may call your local Division of Vocational Rehabilitation Office.

The Workforce Center (ORJT or JTPA):
There may be funding available to assist students for tuition, fees and books.  This office may also help you find additional employment off campus.  They are located on campus in Walker Hall.  You may set up an appointment at (970) 522-9340.

Off Campus Employment: 
There are occasions when local employers will post available positions and the contact office is the Residence Life Office, located in the Hays Student Center, (970) 521-6600.

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