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Financial Aid FAQs

What is financial aid?

Financial aid is money for educational expenses for college or career school. This includes grants that do not have to be paid back and loans that are repaid with interest. Work-study money is earned at a job on campus to help pay educational expenses. Scholarships are funds that do not have to be repaid and are usually based on academic merit but can be based on interests, hobbies, ethnicity and/or financial need.

Is there a way to appeal SAP(Satisfactory Academic Progress)?

If a student is placed on financial aid suspension and has unusual circumstances (illness, death in the family, accidents, etc.) that were a factor in not meeting satisfactory academic progress, he or she has the right to submit an appeal. Appeals are reviewed by the Appeals Committee, and all decisions are final.

How can I apply for financial aid?

First, students and parents need to apply for a PIN. Next, they should complete the FAFSA using their tax documents and sign the FAFSA electronically using their PIN.

What is a CAP (College Access Program) grant?

The CAP Grant is a need-based state funded grant for Kentucky residents and has a priority deadline of March 15. You may apply for Federal and State funds by completing the FAFSA online. No additional application is needed for the CAP grant. See www.kheaa.com .

How many credit hours must I be enrolled in to receive a Pell grant?

Students receive their Pell grant award based on the number of credits hours taken each semester. Students in fewer than 12 credit hours per semester will receive a reduced amount of funds in their Pell grant.

How do I know if I’m a dependent or an independent?

Your dependency status is determined based on your answers to questions 46-58 on the FAFSA. If you answer yes to any one of these questions, you may be considered an independent student. If you answer no to all of these questions, you are considered dependent and be required to supply parent information.

Am I eligible for financial aid?

Your eligibility for financial aid is determined by completing the FAFSA.

My FAFSA (Free Application for Federal Student Aid) was rejected because it is missing a signature. What do I do?

The FAFSA is signed by using your PIN number assigned to you by the Department of Education. Once you have your PIN, return to the FAFSA website and electronically sign your FAFSA. Parents must sign the FAFSA of dependent students using the same process, using their own PIN number.

What is the difference between Federal Subsidized/Unsubsidized Stafford Loans?

For the need-based Subsidized Stafford Loan, the federal government pays the interest while you are enrolled at least half-time (six semester hours). However, for the non-need-based Unsubsidized Stafford Loan, interest accrues while the student is enrolled and must be paid by the student upon graduation or ceasing enrollment of half-time status. Both types of Stafford loans have an interest rate that is capped at 8.25%. Repayment begins six months after you graduate or you cease to be enrolled at least half-time (six semester hours).

What is the Federal Supplemental Educational Opportunity Grant (FSEOG)?

The FSEOG is a need-based grant. Students must have a zero Estimated Family Contribution (EFC). Apply early, as this award is very limited and awarded on a first-come, first-served basis. This is applied for when the FAFSA is submitted.

What is Satisfactory Academic Progress (SAP)?

Federal regulations mandate that a student receiving financial aid under Title IV programs must maintain Satisfactory Academic Progress (SAP) in his/her course of study, regardless of whether or not financial aid is awarded each semester. To receive and to continue to receive financial aid, you must:
• Earn (pass) 67% of all credits you attempt in every term
• Maintain at least a 2.0 GPA at the end of every term
• Have attempted fewer than 150% of the credits required for your program of study

Where can I find information about HCC scholarships?

Review our scholarship page for scholarship options and deadlines.

Should I apply for aid even though I probably will not qualify?

Yes. The application is free and some sources of aid (such as unsubsidized Stafford loan and some types of scholarships) are available regardless of need. 

How and when do I get my residual money?

The financial aid section on your PeopleSoft Self-Service account will show anticipated full-time aid up through the last day to enter a course (census date). If you are enrolled less than full-time, your anticipated aid will then be adjusted. Financial aid will be disbursed through KCTCS using an integrated software system for all community and technical colleges in Kentucky. When your financial aid award is disbursed to your account, your tuition, fees and any applicable book charges will be deducted. If your award exceeds your direct school cost, funds will be sent to you approximately the fifth week of classes via the standard refund process. In order to receive your Higher One/KCTCS Debit Card in a timely manner, you must check to make sure your correct address is on file. This card is your ticket to make your refund preference through Higher One. Your address of record can be checked through PeopleSoft Self-Service.

I have financial aid at another school, but I want to transfer to HCC. Can I transfer my aid?

Yes, you will need to make sure HCC school code (001993) is added to your FAFSA. The financial aid office will determine your eligibility for Pell, CAP, and KEES once your FAFSA is received. Loans are non-transferable and a loan application must be completed to apply for a student loan at HCC.

How do I update my FAFSA to include HCC as a school choice?

Go to the FAFSA website and click on "Add or delete a school code" under "FAFSA Follow-up". Use your U.S. Department of Education PIN to submit a new school code. The school code for Henderson Community College is 001993.

I was selected for verification. What is that and what do I have to do?

Approximately thirty percent of the student population that applies for student aid is randomly selected for the verification process. It is the federal government's way of making sure students are correctly reporting their information on the FAFSA. You will need to fill out the verification form and submit a signed copy of your federal tax forms and all W-2s to the Financial Aid Office. If you are a dependent student, you will also need your parents’ signed federal tax forms and W-2s. Other documentation maybe required by the financial aid office.

Do I have to wait until I am admitted before I apply for financial aid?

No. Students do not have to be admitted to Henderson Community College in order to complete the FAFSA.

What happens after I submit my FAFSA?

If you apply online, your application will be processed in 10-14 days. You will receive a Student Aid Report (SAR) via the e-mail account you provided on your financial aid application stating your eligibility to receive financial aid. If you apply by mail, your application will take about four weeks. Unless any problems arise, you will get a SAR in the mail stating if you are eligible to receive financial aid for the year. Please review your SAR carefully to check for errors or other required documentation needed to complete your financial aid process.

What is a Pell Grant?

The Pell Grant is a need-based grant ranging from $976 to $5350 per year. The Pell Grant is available to degree-seeking students with an EFC(Estimated Family Contribution) of 4617 or less (as determined on the FAFSA). Grants are funds that are not repaid by the student.

Where can I get financial aid forms?

You may access forms online or by visiting our campus.

If I withdraw from school, will I have to repay the financial aid?

When a recipient of Title IV funds (loan, Pell, FSEOG, or ACG) withdraws from a school or stops attending before 60% of the term, the school must determine the amount of Title IV aid the student has earned as of the student’s withdrawal date. Students should always contact the Financial Aid Office before withdrawing from a class to see how this might affect their financial aid.