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Types of Aid
What is Available?

Priority deadline for Fall is April 1.  Priority deadline for Spring is November 1.


Scholarships


Collin College Foundation scholarship application forms are available at the Collin College Foundation website. You may also contact the Collin College Foundation Office at 972-599-3145 for applications or more information.

Additional information may be found on the Scholarships page.

Types of Aid

Students are notified via email (and can also view and accept their aid via their CougarWeb) when they are awarded financial aid as well as when/if their award is adjusted at any time throughout the academic year.

Collin College  participates in the following financial aid programs:

  • Federal Pell Grant
  • Iraq & Afghanistan Service Grant
  • Federal Supplemental Educational Opportunity Grant (FSEOG)
  • Texas Public Education Grant (TPEG)
  • Texas Educational Opportunity Grant (TEOG)
  • Texas Grant Renewal
  • Federal Work Study
  • William D. Ford Federal Direct Loan Programs

Grants

Generally speaking, grants are gift-aid awards. This means that, in most cases, students do NOT have to pay these back.  Federal and state awards are made to eligible students who document need, which is the difference between the student's cost of attendance (see Cost of Attendance section) and the Expected Family Contribution (EFC).  

  • Federal Pell Grant :  Funding for the Pell Grant comes from the U.S. Department of Education. This federal grant is available to undergraduate students who have NOT received a baccalaureate degree.  There is a life time limit on Pell Grant (LEU) of 600% or 6 years of full-time attendance (prorated for less-than-full-time attendance). 
            Eligibility for the Pell Grant is determined by the Expected Family Contribution (EFC) as calculated using the
           information provided by
the student/parent on the FAFSA.  Funds from this award will be divided equally between
           the fall and spring semesters and will be credited to the student's account accordingly.  If a student has remaining
           eligibility for summer, a determination will be made regarding the amount available (based on the yearly awarded
           amount and enrollment status).

            A Pell Grant award is based on the actual number of hours a student is enrolled. Typically, the initial posted award
            amount is based on full-time enrollment.  Should a student not enroll for 12 hours or more (full-time), the award will
            be prorated at census based on actual enrollment, i.e., 3/4 time, 1/2 time or < 1/2 time.  Award amounts will vary
            based on EFC and enrollment - yet may range from $590 to $5,730 annually. See the U.S. Department of
            Education's Pell Grant schedules for specific EFC-to-enrollment amounts.

            Pell Grants are considered to be the first source of aid to the student, and packaging FSA funds begins with Pell
            eligibility.  A
correctly determined Pell Grant is never adjusted to take into account other forms of aid.

           To read more about the maximum Pell eligibility, click here.

  • Iraq & Afghanistan Service Grant:  Funding for the IAS Grant comes from the U.S. Department of Education.  To receive the IAS Grant, a student must have an EFC that is NOT Pell eligible. (The student must, however, meet the other criteria for Pell eligibility.) IAS Grants are made under the same terms and conditions as Pell, and disbursements for each payment period are calculated in the same manner as described for Pell.

    Due to sequester, all IAS Grant award amounts first disbursed on or after October 1, 2013 and before October 1, 2014 must be reduced by 7.2% (7.3% after October 1, 2014).  For example, a student otherwise eligible for a Grant of $5,730 (the maximum scheduled award for 2014-2015) would have the grant reduced by $412.56, resulting in a Grant of $5,317.44.

    When submitting an origination to COD for a student receiving an IAS Grant, the College must include the CPS transaction containing the DoD Match Flag set to "Y" or the award will not be accepted.  The award may not exceed the student's cost of attendance.  IAS Grants are not considered Estimated Financial Assistance for packaging purposes.

    For students who meet the eligibility requirements for the IAS Grant BUT have a Pell eligible EFC, the College must use an EFC of 0 to package all federal student aid.  (Note: the 0 EFC is only used for packaging purposes; the calculated EFC is NOT changed.)

  • Federal Supplemental Educational Opportunity Grant (FSEOG): Funding for the SEOG awards comes from the U.S. Department of Education and is awarded to Collin College students based on the following criteria:

       - Be an eligible U.S. citizen or non-citizen
       - Must be enrolled at least half-time in an eligible program
       - Must be Pell eligible

    Students may receive up to $1200 per year in SEOG funds (minimum of $100 - which can be prorated for students enrolled less than an academic year) and is prorated based on the student's actual enrollment.  Funds are awarded based on exceptional need as determined by a student's Expected Family Contribution (EFC) (which is calculated using information provided by the student/parent on the FAFSA), and with a zero EFC being considered first.

  • Texas Public Education Grant (TPEG):  Funding for the TPEG awards comes from the State of Texas and typically, is awarded to students based on the following criteria:

       -  Are Texas Residents, non-residents or students who meet the eligibility requirements for SB 1528
       -  Show financial need (as calculated by their EFC via the FAFSA or TASFA {Texas Application for
          State Financial Aid} in relation to the College's cost of attendance)
       -  Register for Selective Service or are exempt from the requirement

    Awards may vary depending on the category of eligibility (typical examples include $1,600 annually for SB 1528 and $1,200 annually for early filers), but generally require the student to be enrolled at least half-time and are usually prorated based on actual enrollment.

  • TEXAS Grant Renewal Program* (TXGR):  Funding for the Texas Grant Renewal awards comes from the State of Texas and is awarded to students based on the following criteria:

       -  Be enrolled at least three-quarter time as an undergraduate student who previously received a
          Texas Grant award and has not been granted a baccalaureate degree
       -  Have not been convicted of a felony or crime involving a controlled substances
       -  Have a calculated financial need
       -  Maintain Satisfactory Academic Progress (SAP) as follows:

                + 2.5 cumulative GPA
                + 24 semester credit hours in an Academic Year

    Students may receive up to $2,700 per year in Texas Grant Renewal funds. Awards are NOT prorated and are the same providing the student is enrolled at least three-quarter time.

    Students apply when they complete the FAFSA or TASFA.

    Generally speaking, Texas Grant Renewal awards are not automatically awarded. In most cases, assigned FAO staff confirms student eligibility first and then awards Texas Grant Renewals manually.

    *Beginning Fall 2014, public community, technical, and state colleges are no longer able to make  
      Initial Year Texas Grant awards to students.


  • TEXAS Educational Opportunity Grant  (TEOG):  Funding for the TEOG awards comes from the State of Texas and is awarded to students based on the following criteria:

       For Initial Awards:

       - Be registered for Selective Service or be exempt
       - Have a 9 month EFC of no more than $4,800
       - Be classified as a Texas resident
       - Have not been convicted of a felony or crime involving a controlled substance
       - NOT be concurrently receiving a Texas Grant, and
       - Be enrolled at least half-time and awarded in the first 30 hours (or its equivalent) of an associate's 
         degree or certificate program (excluding credits for dual enrollment or by examination)

      For Renewal Awards:

      - Be enrolled at least half-time as a student who previously received a TEOG award and has not yet 
        been granted an associate's degree or baccalaureate degree
      - Be classified by the institution as a Texas resident
      - Have not been convicted of a felony or crime involving a controlled substance
      - NOT be concurrently receiving a Texas Grant
      - Maintain Satisfactory Academic Progress (SAP) as follows:

          + 2.5 cumulative GPA
          + 75% successful completion of attempted hours
          + Reach the maximum time frame for receiving the grant which is the first of:

                ~ 4 years from the start of the semester in which the student received the first award through
                   the program
                ~ 75 SCH attempted while receiving the grant, or
                ~ Completion of an associate's degree

    Students may receive up to $2,700 per year in TEOG funds. Awards are prorated based on actual enrollment (of at least half-time).

    Students apply when they complete the FAFSA or TASFA.

    Generally speaking, TEOG is not automatically awarded.  In most cases, assigned FAO staff confirms student eligibility first and then awards TEOG manually.

      

Federal Work-Study

Funding for Federal Work-Study comes from the U.S. Department of Education. The FWS program gives students the opportunity to work on campus or in a community service position on a part-time basis. FWS students may work up to 20 hours per week and are awarded based on the following criteria:

   - Be an eligible U.S. citizen or eligible non-citizen
   - Have a calculated need
   - Must be enrolled at least half-time in an eligible program

Students may receive up to $8,000 per year in FWS funds. Initial awards are typically offered at $6,000, but may be reduced based on unmet need.  Students receive these funds for actual hours worked and in the form of a paycheck from Collin College on a monthly basis.  2014-2015 pay rate (as of October 1, 2014) is $10.25 per hour.

To receive a FWS award, a student must file a Free Application for Federal Student Aid (FAFSA) as part of the application process and contact the FWS Coordinator at amchavez@collin.edu.  FWS funds are not automatically awarded, but e-mails are sent to qualifying students during the aid year. Students may search for work-study positions and complete an application for employment on the Collin College HR website - http://www.collin.edu/hr/employment/.



William D Ford Direct Loan Program Overview

These are low-interest federal loans offered to students and parents.  Students are required to pay back loan money they borrow (i.e., subsidized and unsubsidized loans), usually after graduating or falling below half-time (6 hours) enrollment. 

  • Federal student loan interest rates are set annually by the Federal Government.
  • Students must be enrolled and attending at least half time (six credit hours) to be eligible for any student loan program.

*For more information, such as the types of student loans, interest rates, repayment responsibilities, entrance and exit counseling, consolidation, loan services and rights and responsibilities as a student and of the school, see www.studentloans.gov

**In addition, all loans; subsidized, unsubsidized and parent PLUS loans awarded through Collin College will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders and schools determined to be authorized users of the data system.

Terms and Conditions of Title IV, HEA Loans

Terms and conditions of Federal Student Loans (Stafford and Parent PLUS) are listed on the Master Promissory Note (MPN) signed by a borrower accepting the loan.  The MPN must be completed by all students receiving federal student loans and can be found at www.studentloans.gov.   New borrowers will also need to complete Entrance Counseling at the student loans website. Students only need to complete entrance counseling and sign their master promissory note once while attending Collin College.

No loans will be disbursed until the College has a valid MPN and proof of Entrance Counseling on file.

If a student borrower drops below half-time, they will be required to complete Exit Counseling.


Federal Direct Subsidized Stafford Loans

This is a low interest federal loan that enters repayment six months after the student ceases to be enrolled at least on a half-time basis (6 hours).  The term "Subsidized" means that the government pays the interest on the loan while the student is enrolled in school.  The Subsidized loan interest rate for the 2014-2015 year is 4.55% (for loans disbursed on or after 7/1/2014).

This is a need-based loan; meaning, the student must be found to have financial need as determined by their EFC compared to the College's Cost of Attendance (COA).

Freshman may be eligible to borrow up to $3,500 annually (depending on their actual need).  Sophomores may borrow up to $4,500 annually (again, depending on actual need).

The U.S. Department of Education sets a lifetime limit on the amount of subsidized loans an undergraduate student may borrow at $23,000.

First-time borrowers (those who have no principal or interest balance on any Direct or FFEL Loan on the date they receive a Direct Loan on or after July 1, 2013) may not receive Direct Subsidized Loans for a period that exceeds150% of the published length of the academic program in which they are currently enrolled.  Students will be monitored each semester to ensure they are not exceeding the 150% fule.


Federal Direct Unsubsidized Stafford Loans

This is a low interest federal loan that enters repayment six months after the student ceases to be enrolled at least on a half-time basis (6 hours).  The term "Unsubsidized" means that the student pays the interest on the loan while the student is enrolled in school.  The Unsubsidized loan interest rate for the 2014-2015 year is 4.66% (for loans disbursed on or after 7/1/2014).

This is a non-need based loan; meaning, the student does NOT need to have financial need as determined by their EFC compared to the College's Cost of Attendance (COA).  This loan program provides financial assistance to all eligible students regardless of income.

Dependent undergraduate students (not including dependents whose parents are unable to obtain a Direct PLUS loan) are eligible for $2,000 annually, in addition  to the amount of subsidized eligibility.

   -  Freshman dependent undergraduates can receive $3,500 subsidized plus $2,000 unsubsidized for a total of $5,500
      annually.  Students who do not receive the full eligibility for subsidized loans (based on need), may receive the
      difference in unsubsidized loans.

   - Sophomore dependent undergraduates can receive $4,500 subsidized plus $2,000 unsubsidized for a total of $6,500
      annually.  As with the subsidized loan, students who do not receive the full eligibility of subsidized loans (based on
      need), may receive the difference in unsubsidized loans.

Independent undergraduate students, and dependent undergraduate students whose parents are unable to obtain a Direct PLUS loan have higher additional unsubsidized eligibility.

   - Freshman independent undergraduates and dependents whose parents are unable to borrow a PLUS loan can receive
     $3,500 subsidized plus $6,000 unsubsidized for a total of $9,500 annually. Students who do not receive the full eligibility
     for subsidized loans (based on need), may receive the difference in unsubsidized loans.

   - Sophomore independent undergraduates and dependents whose parents are unable to borrow a PLUS loan can
     receive $4,500 subsidized plus $6,000 unsubsidized for a total of $10,500 annually.  As stated above, students who
     do not receive the full eligibility of subsidized loans (based on need), may receive the difference in unsubsidized loans.

The U.S. Department of Education sets a lifetime limit on the amount of total loans (subsidized and unsubsidized combined) a dependent undergraduate student may borrow at $31,000 (of which only $23,000 can be subsidized).

The lifetime limit on the amount of total loans (subsidized and unsubsidized combined) an independent undergraduate student, or a dependent student whose parent is unable to obtain a PLUS loan may borrow at $57,500 (of which on ly $23,000 can be subsidized).


Federal Direct Parent Loan for Undergraduate Students (PLUS)

This federal loan is a long term, low interest loan available to parents of dependent students regardless of income. However, parents must demonstrate credit worthiness to be eligible for a PLUS loan.  This loan enters repayment 60 days after the last disbursement each year.  A separate loan application must be filed by the parent in order to receive these funds.  In addition, a Direct PLUS Loan Promissory Note must be completed with the U.S. Federal Government.  While the student is at Collin College, the MPN must be completed only once. Parents can apply for a PLUS loan at www.studentloans.gov.   The PLUS loan interest rate for the 2014-2015 year is 7.21% (for loans disbursed on or after 7/1/2014).

Students are required to complete the FAFSA to receive  PLUS loan proceeds.   The loan proceeds are divided equally between the fall and spring terms. 

The annual Direct PLUS loan limit is equal to the cost of attending Collin College less any financial assistance the student is receiving.