Student Financial Aid at ICC
ICC participates in Title IV student financial aid programs
funded by the federal government including the Federal Pell Grant Program, the Federal
Supplemental Educational Opportunity Grant, the Federal Stafford Loan Program, and the
Federal Parents Loan for Undergraduates Program. Information about these programs can be
found in the General Catalog.
Other Financial Aid
Academic and activity scholarships are available at ICC
through the Financial Aid Office in the Student Union Building. Athletic scholarships are
available through the Athletic Office in the Field House. Information about the many
scholarships is available in the General Catalog and in the offices mentioned. A limited
amount of non-federal student labor funds for specific jobs is available, also.
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3.5 –
4.0 GPA, 27 or above on the ACT, or Valedictorian or Salutatorian of high school graduating
class will receive a Presidential Scholarship of tuition (and use
of books for up to eighteen hours and must carry sixteen or more
credit hours per semester. |
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3.0 –
3.49 GPA or a 22-26 on the ACT will receive will receive a Dean's
Scholarship of $1000 per year
($500 per semester) with enrollment of twelve
credit hours or more. |
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2.5 –
2.99 GPA will receive $200 annually with enrollment of twelve
credit hours or more. |
Federal College Work-Study Program
The Federal Work-Study Program (FWS) employs students who
are in need of the earnings from part-time employment in order to pursue an undergraduate
course of study. Students work from 5-20 hours weekly, when not attending classes. Jobs
include clerical work, classroom assistance, laboratory assistance, and building
maintenance. Pay is at the federal minimum wage rate. An application form for determining
need is available from the Office of Student Financial Aid and an interview with the
Office of Student Financial Aid is necessary.
See
.
Federal Pell Grants
Students apply by sending a completed Free Application for
Federal Student Aid to the federal processor in the envelope provided. Applicants will
receive a Student Aid Report which should be brought to the Office of Student Financial
Aid at ICC to obtain the grant award. Payments are made each semester to pay for tuition,
fees, books, transportation, housing, food, clothing, etc. if the student qualifies. To
receive the full grant a student must enroll in twelve semester credit hours or more and
maintain satisfactory academic progress in his/her course of study.
Federal Supplemental Educational Opportunity Grants
The Federal Supplemental Educational Opportunity Grant
Program (FSEOG) at ICC provides direct awards for college students in amounts ranging from
$100 to $800 per year. Applicants to the FSEOG Program must have their financial need
analyzed and determined each school year. Information is available from the Director of
Student Financial Aid. To be eligible, the student must be enrolled and attending classes,
and maintain a satisfactory academic progress in his/her course of study.
Federal Stafford Loan Program
The college participates in the Federal Stafford Loan
Program. Up to $2625 per academic year may be borrowed by qualified first-year students
from participating lending institutions. Applications are available at ICC or from the
student’s hometown bank, and verification of the student’s enrollment and loan
amount is made by ICC. Stafford loans may be subsidized and/or unsubsidized. Subsidized
loans are interest and payment free during college attendance. Unsubsidized loans require
interest to accrue on the principal of the student’s loan. Repayment of a Federal
Stafford Loan begins six months after a student completes his/her course of study and a
minimum of $600 per year including principal and interest is required over a five to
ten year repayment period.
STEP 1:
Complete Entrance Counseling to apply for
your Stafford Student Loan.
This step will also complete your Master
Promissory Note. (When you click on the link
below you will first need to create a
username and password.)
Click Here:
Complete Entrance Counseling For Your
Stafford Student Loan
STEP 2:
See the Financial Aid Office to determine
how much money you are eligible to borrow.
At this time, you will also be required to
provide three additional references. They
must be different than the two you provided
on your Master Promissory Note. (Step 2 must
be completed before your loan will be
certified.)
STEP 3:
It is required that you
complete the Exit Counseling for your
Stafford Student Loan
before you graduate, transfer to a different
school, or withdraw from all classes.
Click Here:
Complete Exit Counseling For Your Stafford
Student Loan
Federal Parents’ Loan for Undergraduate Students
Program
The college participates in the Federal Parents’ Loan
for Undergraduate Students Program. A parent of a dependent undergraduate student may
borrow an amount up to the cost of attendance minus any other student financial aid
received from participating lending institutions. Applications are available at ICC or
from the student’s hometown bank and verification of the student’s enrollment
and loan amount is made by ICC. Repayment by the student’s parent begins 60 days
after the loan is received. A minimum of $600 per year including principal and interest is
required over a five- to ten- year pay-back period.
Satisfactory Academic Progress for students
receiving Federal Financial Aid match those
standards set for all ICC students. The
standards have a quality component (GPA)
measured against a quantitative component
(number of credits attempted). The
Satisfactory Academic Progress Standards are
as follows:
1. Students with
1-15 total cumulative semester hours must have completed those
semester hours with at least a 1.75 cumulative GPA to advance to the
next level.
2. Students with
16-30 total cumulative semester hours must complete those semester
hours with at least a 1.90 cumulative GPA to advance to the next
level.
3. Students with
31-91 total cumulative semester hours must complete those semester
hours with at least a 2.0 cumulative GPA to advance to the next
level.
A student will be
placed on probation if his/her cumulative grade point average is
less than the accepted standards for each semester. A student on
probation who fails to raise his/her cumulative grade point average
to the required minimum after a regular (Fall and Spring) semester
will be placed on suspension for the period of one regular (Fall or
Spring) semester. Students may appeal suspension.
A suspended
student may apply for reinstatement of their financial aid by
submitting a petition by the deadline date specified in the Academic
Suspension Letter. The petition will be reviewed by the Dean of
Instruction.
The Dean of
Instruction may elect to approve the petition as submitted, to
approve the petition with conditions (e.g., delayed disbursement),
to uphold suspension, or to take action which is deemed in the best
interest of the student. If the student is reinstated for financial
aid, he/she will automatically be placed on probation.
In order to receive a grant, loan or work assistance from
Title IV student financial aid federal funds at ICC, a student must:
- Be a United States citizen or eligible non-citizen,
- Be registered with Selective Service, if an 18-32 yr. old
male,
- Have financial need as determined by a federally approved
need analysis,
- Be a high school graduate or have a G.E.D. certificate,
- Not have a baccalaureate degree,
- Be enrolled in an eligible program of study in classes that
lead to fulfilling requirements for a degree or a certificate of vocational proficiency,
- Maintain satisfactory academic progress,
- Not be in
default on any Title IV loan or owe a refund
on any Title IV grant.
