1. What is financial aid?
Financial aid is money for students to help meet college costs. It can include grants, scholarships, work-study, and federal student loans. Grants (Federal and State) are based on financial need and do not have to be repaid. Scholarships are non-repayable awards, and may be based on merit, special talent, financial need, application deadlines, or all of the above. College work-study, is also based on need and funds available, allow students to earn money while attending school by working part-time on campus. Federal direct loans are funds borrowed at a low, fixed interest rate that must be repaid later. Repayment on loans do not begin until six months after the student either graduates, drops below half-time enrollment, or ceases to be enrolled for any reason.
2. What is my financial need?
To qualify for financial aid you must demonstrate need. Please understand, however, that the primary contributors to your educational expenses are you and your family. When you apply for federal student aid, the information you report is used in a formula established by the Department of Education. The formula determines your Expected Family Contribution (EFC), an amount you and your family are expected to contribute toward your education. Cost of Attendance - EFC = Financial Need
3. How long does the application process take?
If your application is chosen for verification by the Department of Education, additional documents may be requested and the processing time may increase. Once documents have been received by the financial aid department, processing time would be approximately 10-15 business days.
4. Do I have to include my parent’s financial information?
For 2024-2025, you must include parental information unless you can answer, "yes" to one or more of the following personal circumstances:
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1. The student is currently serving on active duty in the U.S. Armed Forces for purposes other than training.
2. The student is a veteran of the U.S. Armed Forces.
3. The student has children or other people (excluding your spouse) who live with the student and who receive more than half of their support from the student now and between July 1, 2024, and June 30, 2025.
4. At any time since the student turned 13, they were an orphan (no living biological or adoptive parent).
5. At any time since the student turned 13, they were a ward of the court.
6. At any time since the student turned 13, they were in foster care.
7. The student is or was legally emancipated minor, as determined by a court in their state of residence.
8. The student is or was in a legal guardianship with someone other than their parent or stepparent, as determined by a court in their state of residence.
9. None of the above apply.
If you answered "no" to all of these questions then you must include parental information on your application, even if your parents are not helping you financially. The federal government assumes that your parents have an obligation to pay for your education and requires that your parent's financial resources be considered.
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5. What do I do with my Student Aid Report (SAR)?
Check your Student Aid Report (SAR) carefully for any incorrect items. Make any necessary corrections, send to the Department of Education, and make a copy for your records. Coastal Bend College will receive an electronic analysis of all the information on your SAR if you specified Coastal Bend College as one of your college choices. No financial aid will be awarded until students complete all other necessary forms.
6. When should I apply for financial aid?
Financial aid applications are available on the FAFSA website after October 1st each academic year except for 2024-2025 it will be available in December. You must apply as soon as you can after this date, providing that you and/or your parents have completed the tax return needed for the FAFSA application.
7. I applied last academic year; do I have to reapply for this new academic year?
Yes. You must reapply for financial assistance every academic year. Financial aid consideration does not continue from one year to the next without applying. All financial aid eligibility is determined using the prior year income. For example, your 2023-2024 eligibility was based on income received in 2021, and for 2024-2025 your eligibility will be based on income received for 2022.
8. Can I receive a Pell grant if I am enrolled in less than half time?
Yes, if you are otherwise eligible. You won't receive as much as if you were enrolled full time, but based on your FAFSA you may be eligible. Other aid (like direct loans) will require at least half time enrollment.
9. Do I need to have a high school diploma or GED?
Financial aid applicants must have a high school diploma or must have successfully completed the General Educational Development (GED) Certificate to receive student financial aid.
10. What happens if I withdraw from a class(es)?
Contact a Financial Aid Advisor prior to any withdrawal. If you totally withdraw from all your classes during any semester you may owe a repayment of funds disbursed. Enrollment status does affect eligibility. Please be aware that some awards may have to be reduced or cancelled due to adjusting enrollment patterns. Withdrawing from classes may also put your financial aid in to a warning/ suspension status. Please contact a Financial Aid Advisor prior to any withdrawal.
11. My parents are divorced (separated). Which parent’s information should I use to complete the FAFSA?
Effective with the 2024-2025 year, for divorced or separated parents, income and assets are reported for the parent who provides the most financial support over the 12 months prior to filling the FAFSA even if the student does not live with that parent or lives with the other parent. "Support" means money for such things as housing, food, clothing, transportation, medical care, and school.
12. Do I have to use my stepparent’s information to complete the FAFSA?
Yes, stepparent's information must be included on your financial aid application.
13. Should my guardian and/or grandparent’s financial information be used to file the FAFSA?
Unless they are your legal (court appointed) guardians or they have legally adopted you, you must use your parents’ information.
14. What if I have unusual circumstances?
If you and your family have unusual circumstances that might affect your need for financial aid, submit the FAFSA and then consult with the Financial Aid Office.