Types of Financial Aid

The primary goal of Financial Aid is to assist students in paying for college and is achieved by:

• Evaluating your family's ability to pay educational costs
• Distributing limited resources in an equitable manner
• Providing a balance of gift aid and self-help aid

Grants

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 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.

Academic Competitiveness Grant (ACG) Program

This program is funded by the federal government.  It is awarded to to first and second year undergraduate students and who receive Federal Pell Grants.  The student must be a U.S. citizen, be enrolled in a minimum of 12 credits and have completed a rigorous secondary school program.

Colorado Leveraging Educational Assistance Partnership (CLEAP) Program

This program is funded by the state of Colorado and the federal government.  It is for Colorado resident undergraduate students with exceptional financial need, that is student with the lowest 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 for this grant, students must complete the FAFSA by March 1. There is no guarantee that every eligible student will be able to receive the CLEAP; students are awarded on a "first-come, first-served" basis and on the availability of funds.  If a student receives the CLEAP, 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

Loan Programs

NJC participates in the Federal Family Education Loan Program (FFELP).  This loan program includes the Federal Stafford loan (Subsidized and Unsubsidized), and the Federal PLUS loan.  These loans allow students to borrow money from a private lender to help pay for education costs.  The lender will make a loan directly to you through the school.

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 can complete a Master Promissory note for a Federal Stafford loan at www.studentloanonline.com.  Please refer to the "Federal Stafford Student Loan - Instructions" form to help you complete the application.  This form will be sent to you with your award letter.

To be eligible for these loans you must:

• Have a completed financial aid file
• Complete a valid Master Promissory note at www.studentloanonline.com
• Be enrolled in a degree program or certificate program
• Be attending at least half-time (six credit hours minimum) for the entire loan period
• Not be in default on any type of student loan
• Not owe a repayment on a federal student grant
• Be in compliance with the NJC Financial Aid Satisfactory Progress Policy
• First time borrowers at NJC must have completed the Entrance Loan Counseling section at www.studentloanonline.com

  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	Lender
  Federal Subsidized and Unsubsidized Loan	$3500 Freshman $4500 Sophomore	6.8% Fixed	Various banks
  Federal Parent Loan for Undergraduate Students (PLUS)	Cost of Attendance minus other aid	8.5% Fixed	Various banks

  Work-Study Programs

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

  NJC participated 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-$2100
  Hourly Rate (Average)	$6.85-$7.00
  Hours Worked	10-12/week

  If you would like to be considered for work-study, you must complete the Free Application for Federal Student Aid (FAFSA) by March 1 each year.

  Scholarships

  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 sumitted 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 our scholarship page.

  Other Resources

  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) 521-6608