Types of Financial Aid
Federal Pell Grant Program
The purpose of the Federal Pell Grant is to provide eligible students with a foundation of financial aid for post-secondary education. Any student working toward a degree/diploma/certificate may be eligible for the grant, which ranges from $672-$6,495 per academic year, depending on the number of credit hours enrolled each semester and the Expected Family Contribution (EFC) as calculated by the Department of Education. A student must register for at least 12 qualified credit hours to receive the maximum semester award of their allotted Federal Pell Grant. If the student has not used their complete Federal Pell Grant allotment during the fall or spring semesters of the academic year, the student may be able to use their academic year leftover allotment during the summer semester.
Beginning with the 2017-2018 academic year, Federal Pell Grant eligible students may be entitled to an additional 50% Federal Pell Grant allotment for the summer semester. Year-Round Federal Pell Grant policy allows students to receive up to 150% of their initial Federal Pell Grant award over the course of the allotted academic year. This enables the student to continue taking classes during the summer semester and finish their program faster than they would otherwise. So, even if a student has already been awarded their initial 100% Federal Pell Grant allotment during the fall and spring semesters, he or she may also qualify for an additional 50% Federal Pell Grant allotment during the summer semester of that same academic year. (The additional 50% Federal Pell Grant allotment cannot exceed 50% of the initial 100% Federal Pell Grant allotment.) Please speak with a Financial Aid Representative for further details on the requirements.
Federal Supplemental Educational Opportunity Grant
This grant is for students demonstrating exceptional need to meet their costs of education. Eligibility is determined from the FAFSA application.
Federal College Work Study Program
The Federal Work Study Program is a federally funded program that provides an opportunity for students to work and earn money to assist with their educational expenses while enrolled at MCC. Students must show financial need, as demonstrated on the Free Application for Federal Student Aid (FAFSA), and register for a minimum of six credit hours each semester in order to qualify for the Work Study Program. For more information contact the Financial Aid Office or visit www.mayland.edu/financial-aid.
North Carolina Community College Grant (NCCCG)
The NCCCG is funded by an appropriation made by the North Carolina General Assembly in 1999 and provides the largest financial need-based student assistance program in the history of the North Carolina Community College System. It is the intent of the General Assembly that the Community College System makes these financial aid funds available to the neediest students who are not eligible for other financial aid programs that cover their required educational expenses. Students who are ineligible to receive a full Pell Grant award are considered for this need-based grant. To be eligible for the NCCCG, students must complete the Free Application for Federal Student Aid (FAFSA).
To be considered for the NCCCG, an applicant must:
- Be a North Carolina resident for tuition purposes;
- Meet all the eligibility requirements for a Federal Pell grant, except the Expected Family Contribution (EFC) requirement;
- Enroll for a least six (6) credit hours per semester as an undergraduate student in a degree, certificate, or diploma program at an eligible North Carolina post-secondary institution;
- Meet the Satisfactory Academic Progress (SAP) requirements of the institution he or she is attending.
A student must register for at least 15 qualified credit hours to receive the maximum semester award of their allotted NCCCG. Funding for the NCCCG is awarded to students for the fall and spring semesters only; these funds are not available for the summer semester.
North Carolina Education Lottery Scholarship (NCELS)
The North Carolina Education Lottery Scholarship program was created by the 2005 General Assembly to provide financial assistance to NC students with need who attend eligible colleges located within the state of North Carolina. This scholarship is offered by the North Carolina State Education Assistance Authority through College Foundation, Inc. Eligibility for the NCELS is determined by the Free Application for Federal Student Aid (FAFSA). To be considered for the NCELS, students qualify under the same guidelines as the NCCCG (listed above).
A student must register for at least 12 qualified credit hours to receive the maximum semester award of their allotted NCCCG. Funding for the NCELS is awarded to students for the fall and spring semesters only; these funds are not available for the summer semester.
MCC Foundation Scholarship Program
Students at MCC are encouraged to explore a range of scholarship opportunities, including the MCC Foundation Scholarship Program.
Around sixty (60) scholarships are available through the MCC Foundation Scholarship Program. While criteria for each scholarship varies, the majority are awarded on the basis of financial need and academic promise. For more information about MCC Foundation scholarships and to access the online scholarship application, visit the Foundation Scholarship page at www.mayland.edu/financial-aid/scholarships/mcc-foundation-scholarships. The MCC Scholarship Committee reviews applications and makes awards once per year.
Community Scholarship Opportunities
Information on several community scholarships is available under the Scholarships and Additional Financial Assistance page on the Financial Aid page of the website at www.mayland.edu. This page is updated regularly with the most current scholarship information.
North Carolina Child Care Grant
The Childcare Assistance Program is a state grant funded through the North Carolina Community College System. This grant provides childcare assistance for children of students enrolled in a curriculum program at MCC and displays financial need.
Students must complete the following steps to apply for assistance:
- Complete the Free Application for Financial Student Aid (FAFSA) online to determine financial need;
- Be enrolled for a minimum of nine (9) credit hours per semester and maintain a 2.0 GPA or higher;
- Have child enrolled or have an enrollment date at a licensed childcare facility or registered home;
- Turn in a Childcare Assistance application;
- If married, turn in spouse’s current check stub;
- Contact DSS in student’s residence county to be put on waiting list for childcare voucher.
Funding is limited and awarding of the funds is based on the following criteria:
- Family size;
- Verified income;
- Financial need;
- Enrollment status (i.e. full-time or part-time);
- Cumulative grade point average (2.0 or higher); [AND]
- Special circumstances, if applicable.
Students will be rated based on these conditions. Those students with the highest ratings will be awarded first. Students who have a spouse in the home who is not working or is not enrolled in school for a minimum of nine (9) credit hours are not eligible for funding.
529 Savings Plan
A 529 Savings Plan is an education savings plan designed to help families save for college expenses. These plans are named after section 529 of the Internal Revenue Code. They allow taxpayers to either prepay or contribute to an account for paying a student’s qualified higher education expenses. Contributions to 529 plans are not deductible, but there is no income limit for contributors.
529 plan distributions are tax-free as long as they are used to pay qualified higher education expenses for a designated beneficiary. Qualified expenses include tuition, required fees, books, and supplies. Room and board also qualify for students who are at least half- time.
Education IRA/ Coverdell ESA
This is a trust or custodial account that is created exclusively for the purpose of paying the qualified higher education expenses of the designated beneficiary of the account. A beneficiary is someone who is under the age of eighteen (18) or is a special needs beneficiary. Taxpayers, including the designated beneficiary, may deposit up to $2,000.00 in any year no matter how many accounts have been established. Also, no tax is owed upon withdrawal unless the amount withdrawn is greater than the cost of the student’s qualified higher education expenses.
Additional information on the Coverdell Education Savings Accounts can be found at: www.irs.gov/publications/p970/ch07.html .
Community college students may be eligible to receive education tax credits that can reduce the expense of education. There are two (2) education tax credits available, (1) the American Opportunity Credit and (2) the Lifetime Learning Credit. The credits are based on education expenses paid for students enrolled in eligible institutions. Additional information on education credits can be found at www.irs.gov/uac/Tax-Benefits-for-Education-Information-Center.
Veterans Administration Education Benefits
All degree, diploma, and certificate programs at MCC are approved by the North Carolina State Approving Agency under Public Law 634 for educating and training veterans, dependents of deceased or disabled veterans, and members of the Selected Service. Continuing Education courses are not approved for VA Education Benefits. Information and assistance in establishing eligibility for VA Education Benefits may be obtained from the VA Certifying Official in the Financial Aid Office.