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GRANTS
FEDERAL PELL
GRANT
This grant provides federal financial
assistance to those who need it to attend the college or university of their choice. Federal PELL grants are intended to be the
“floor” of a Financial Aid package and may be combined with other forms of aid
in order to meet the full cost of education. The
amount of your Federal PELL Grant is determined on the basis of your own and your
family’s financial resources.
To Be Eligible For The PELL Grant, A Student Must:
have established financial need by means of the Free
Application for Federal Student Aid (FAFSA) for that year.
be enrolled in an eligible program of study offered by an
eligible institution of post-secondary education. Federal
PELL Grant is designed to provide financial assistance to those student who qualify and
want to attend Laredo Community College.
Federal PELL Grant can be provided to students enrolled
full-time (12 + hours); three-quarter time (9 to 11 hours); half-time (6 to 8 hours), and
less than half-time (1 to 5 hours). Federal
PELL awards to students enrolled less than half-time will be decreased proportionately.
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FEDERAL
SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG)
The Higher Education Act of 1965,
PL89-329 establishes Federal Supplementary Educational Opportunity Grants, through
institutions of higher education to qualified students of exceptional financial need, who
would be unable to obtain education benefits without such assistance.
To Be Eligible For The SEOG Grant, A Student Must:
be accepted for enrollment at least half-time;
show evidence of academic or creative promise and
capability of maintaining good standing in his/her course of study;
be of exceptional financial need (with priority given to
Federal PELL Grant recipients);
not be able to attend such institutions without the
Grant.
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TEXAS PUBLIC
EDUCATIONAL GRANT
This provides assistance to resident students
with no more than 10 percent of total grant funds awarded through the program in a fiscal
year awarded to non-resident students. Need
will be the primary factor to be considered for students who qualify academically. Applicants must be enrolled for 6 or more eligible
semester hours. All applicants must meet our
Satisfactory Academic Progress policy in order to be eligible for this grant. On-Campus TPEG: The
on-campus TPEG provides awards to students to pay for education expenses while at Laredo
Community College. The student must show
financial need and be enrolled at least 6 eligible hours. |
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TEXAS GRANT
This grant provides assistance to eligible students for payment of
tuition and fees.
To Be Eligible For A Texas Grant Initial Award A Student Must:
be a Texas resident
have applied for financial aid through the FAFSA application
show financial need
be enrolled at least three-quarter time ( 9 hours) in an
undergraduate degree or certificate plan at an eligible institution
not have been granted a baccalaureate degree
be a graduate of a public or accredited private high school in
Texas not earlier than the 1998-99 school year
must have completed the recommended or advanced high school
curriculum
must have received an associate degree from an eligible
institution no earlier than May 1, 2001, and re-enroll not later than the end of the 12th
month after the month the person receives an associate degree from an eligible institution
(effective Fall 2001)
To Be Eligible For A Texas Grant Renewal Award A Student Must:
have previously received an initial award through this program
have applied for financial aid through the FAFSA application
show financial need
be enrolled at least three-quarter time (9 hours) in an
undergraduate degree or certificate plan at an eligible institution
not have been granted a baccalaureate degree
make satisfactory academic progress towards an undergraduate
degree or certificate, which requires:
 | in the first academic year that the student meet the
satisfactory
academic progress requirements as indicated by the financial aid office
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| in subsequent years, completion of at least 75 percent of
the hours
attempted in the student’s most recent academic year, and maintain an
overall grade point average of at least 2.5 on a four point scale
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TEXAS II GRANT
This grant provides assistance to eligible students for
payment of tuition and fees.
To Be Eligible For A Texas II Grant Initial Award A
Student Must:
be a Texas resident
have applied for financial aid through the FAFSA
application
show financial need and have a family contribution
of $2000 or less
be enrolled at least half-time (6 hours) in the
first 30 hours of a certificate or associate’s degree plan at a public two-year
institution
not have been granted a baccalaureate degree
not be eligible for an award through the original
TEXAS Grant Program
To Be Eligible For A Texas II Grant Renewal Award A
Student Must:
have previously received an initial award
through this program
have applied for financial aid through the
FAFSA application
show financial need
be enrolled at least half-time (6 hours) in an
associate’s degree or certificate program at a public two-year institution
not have been granted a baccalaureate degree
not be eligible for an award through the
original TEXAS Grant Program
have received TEXAS II Grant awards for no more
than 75 semester credit
hours or the equivalent
make satisfactory academic progress towards an
undergraduate degree or certificate, which requires:
| completion of at least 75 percent of the hours
attempted in the student’s
most recent academic year
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| maintenance of an overall grade point average
of at least 2.5 on a four
point scale
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SCHOLARSHIPS
Scholarships are awarded on the basis of
academics only or any combination of athletics, academics, financial need,
campus/community activities, and leadership positions.
Scholarships are designed to reward,
encourage, and assist students in pursuing academic excellence and leadership roles. The Scholarship Handbook may be accessed through
the Financial Aid Office or the Web Site: www.laredo.cc.tx.us. |
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EMPLOYMENT
Full-time students who
require financial assistance may apply for the Federal Work-Study program. Employment is available for both campus and
off-campus jobs. The work-study program
enables need students to help pay for their college related expenses.
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LOANS
Eligible Borrowers are
undergraduate and graduate students who:
have applied for financial aid through the
FAFSA application
show financial need
are citizens or eligible non-citizens
are enrolled at least 6 eligible hours
are making
satisfactory progress
have no prior defaults on NDSL, GSL or PLUS loans and owe no refunds of PELL, SEOG or
SSIG Grants
are registered with the Selective System, and
have certified their intent to use the loan
proceeds for educational purposes
have a complete financial aid file
must attend a mandatory loan session for each
loan processed
Maximum Annual Loan
Amounts:
- First year
Undergraduate Student
$2,625
- Second year
Undergraduate Student
$3,500
Students may only borrow 1/3 of eligible amount per semester.
Repayment Responsibilities:
No payment of principal required during
the student’s in-school period plus six months;
interest payments are made and subsidized by the U.S. Government during this time
for subsidized loans. Interest rates are
available from your lender.
How Much Will I Have To Pay Each Month?
The amount of each payment depends upon
the size of your debt. You should ask your
lender what your monthly payments will be before you take out the loan.
What Happens If I
Don’t Pay Back My Loan?
You will go into default. You will not be eligible for further financial
assistance. Credit bureaus will be notified
of your default, and this may affect your future credit rating. The Internal Revenue Service may withhold your
income tax refund and apply it toward your loan. |
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TEXAS
PARENT LOAN FOR UNDERGRADUATE STUDENT (TPLUS)
Repayment Responsibilities:
Borrower payment of principal and interest
begins within 60 days of loan disbursement. Student
borrowers are entitled to deferment of principal while attending school full-time.
Eligible Borrowers:
Parents of Dependent Undergraduate Students
who:
are citizens or eligible non-citizens
have no default on prior NDSL, GSL, or PLUS loans and owe no
refunds on PELL, SEOG, or SSIG grants
have stated their intent to apply the proceeds to the educational
costs of the student, and whose dependent undergraduate student is:
| a citizen or eligible non-citizen
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| enrolled in at least 6 eligible hours
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| making satisfactory academic progress, and has no defaults
on prior NDSL, GSL, or PLUS loans and owes no refunds on PELL, SEOG, or SSIG grants
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| applying for financial aid through the FAFSA application
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Independent Undergraduate Students and
Dependent or Independent Graduate Students who meet the student criteria outlined above. |
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The loan check must be made payable to the borrower and requires
his/her endorsement.
If the lender transfers (e.g. sells) the loan and the right to
receive payments, the borrower must be sent a clear notification.
Borrowers have the right to federal interest benefits, if
qualified.
Lenders must provide the borrower with a copy of completed
promissory note.
Borrowers have a right to a 6 month grace period before repayment
begins after the borrower has left school or is attending school less than half-time. The exact length of this period is indicated by
the lender on the promissory note.
Borrowers have a right to prepay the loan without penalty.
Borrowers have a right to deferment of repayment. Under deferment a borrower is not required to make
payments of the loan principal for a period of time.
Also, if the borrower qualified for Federal interest benefits while in school,
he/she will not be required to pay interest on the loan during the deferment period.
Borrowers may request forbearance.
If the borrower cannot meet his/her repayment schedule, he/she may request
forbearance for a specified period of time if it will assist the borrower in avoiding
default.
The loan obligation will be cancelled in the event of death or
permanent and total disability. THIS LOAN
CANNOT BE CANCELLED OR “FORGIVEN” FOR DUTY IN THE MILITARY SERVICE OR FOR
TEACHING IN SHORTAGE AREAS.
The borrower must use care in choosing a school. All schools must provide information to
prospective students about the school’s program and performance. Borrowers should consider this information
carefully before deciding to attend a school.
The borrower must arrange with the lender to pay the interest on
the loan if he/she does not qualify for federal interest benefits. Interest benefits are explained in the
instructions section on the application booklet.
The borrower must notify the lender if any of the following
occurs before the loan is repaid: graduation,
withdrawal from school or less than half-time attendance.
The borrower should notify the lender if any of the following
occurs before the loan is repaid: name
change, transfers to other schools.
The borrower must repay the loan in accordance with the repayment
schedule.
The borrower must notify the lender of any occurrence which may
affect the borrower’s eligibility for a deferment if the borrower is under deferment
of repayment.
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