Once your application for admission is complete and your FAFSA form is received by our office, we will
notify you in writing of any additional documentation required.
Before the Financial Aid Office can determine your financial aid package you need to:
-
Be accepted into a degree, diploma, or certificate program at Cabarrus College.
(Note: You are encouraged to apply for Financial Aid at the same time that
you apply to a program. However, a financial aid package will not be provided to you until you
have been accepted into a particular program.)
Apply for financial aid between January 1st and March 15th
to be able to receive the maximum financial aid. FAFSAs submitted after this date will be considered only as funds
are available. Students starting a program in the Spring semester should complete a FASFA form as soon as possible
to allow the Financial Aid Office to determine eligibility.
I have been selected for verification. What does this mean to me?
The Department of Education will select individual FAFSA applications for a review process called verification. Individuals can be selected for one of
the five verification categories.
Applicants selected for verification will need to complete a verification worksheet for 2013-2014 corresponding to the individual verification code you
have been provided by Cabarrus College.
You should receive one of the following verification codes for 2013-2014: V1, V2, V3, V4*, or V5* in a letter
emailed to you by Cabarrus College. Find your form under Dependent (your parents information was required on the
FAFSA) or Independent (no parental information was required on the FAFSA).
Dependent Student Forms (Parental information was required on the FAFSA form)
Once you have submitted your FAFSA, required documents, and have been admitted to Cabarrus College, the Financial
Aid Office will determine your need and, if you are eligible, develop a customized package including funds from those
programs for which you qualify. As a result, your financial aid package from Cabarrus College may include one or a
combination of scholarships, federal or state grants, federally subsidized or unsubsidized loans, and/or on-campus
student employment.
The basic types of financial aid available are:
-
Federal and State Grants: Funds awarded to the student under these categories do not
have to be repaid. Sources of grant funds are the Federal Government and the state of North Carolina. Grants
are usually awarded to students who demonstrate the greatest financial need.
-
Scholarships: Funds awarded to the student under these categories do not have to
be repaid. Scholarships are monies that are made available to students from various local community groups,
state funds and corporate donors.
-
Student Loans: Loans are funds that you must repay. The type of loan you are eligible
for depends on financial need, however even a student without Financial need can qualify for loans. Types of loans
include Federal Direct Loans for the student and Federal Direct Plus loans for Parents of Undergraduate Students
(PLUS).
-
Work Study: Federal Work Study is a federally funded program that provides
employment opportunities to students with the highest financial need. Placement is limited.