Q: What is the difference between a grant, a scholarship and a loan?
A: A grant is a gift that does not have to be repaid; it is based on the student's financial need. A scholarship is an achievement award which is usually based on academic grades, abilities, skills, test scores, class rank, etc. Loans are funds borrowed by the student and/or parent. In most cases, loans must be repaid with an interest charge during a specified repayment period.

Q: I can't access myMCTC. What should I do?
A: Contact the Computer Services Help Desk at (304) 710-3470.

Q: I don't see anything missing on my financial aid requirements. What should I do?
A: Please re-read the information on the site. You may only need to open your Electronic Award on myMCTC and accept or decline the funds. Electronic awards should be available after April 15 each year.

Q: Is there a maximum income level that will make me ineligible for financial aid?
A: No. Income level does not automatically disqualify you for financial aid. Other variables, such as the number in the family and the number attending college are taken into consideration.

Q: What are the factors that determine need?
A: Most people have the misconception that income is the only factor in determining need. Other variables are considered such as: family size, number of family members in college, age of older parent, savings, investments, and various allowances to income and assets.

Q: What are my chances of receiving financial aid?
A: The only way to determine your eligibility for financial aid is to submit a Free Application for Federal Student Aid (FAFSA). Some form of financial assistance will be offered at the school you choose. The assistance may include student or parent loans.

Q: In order to receive financial aid do I have to apply every year?
A: Yes. In order to receive consideration for all programs you must file a Free Application for Federal Student Aid (FAFSA) each year. You may file the FAFSA beginning January 1, but no later than April 15.

Q: What happens if I fail to submit my electronic award?
A: Students who wish to accept student loans must accept the loans on the electronic award and submit the acceptance.

Q: What is the deadline to apply for financial aid?
A: All paperwork should be submitted to the Mountwest Community & Technical College Office of Student Services by June 30 for fall, by November 30 for spring and by April 15 for summer.

Q: I missed the deadline; can I still apply for financial aid?
A: Yes, you must be enrolled at the time funds are disbursed and you must be making academic progress. You must be prepared to cover your expenses from your own resources if you apply late.  I

Q: Why didn't I receive a financial award?
A: If you do not receive an electronic award, you should contact the Office of Student Services. We may not have received an electronic copy of your SAR or there may be problems with your SAR. You may contact us at (304) 710-3370 or ask a counselor. We are located in Mountwest Community & Technical College Building on the first floor..

Q: What is Mountwest Community & Technical College's Title IV code?
A: 040414

Q: Will I be required to submit additional forms to Mountwest Community & Technical College other than the FAFSA?
A: Possibly, if you are selected for review in a process called verification we will contact you via e-mail about additional paperwork requirements.

Q: Can part-time students receive financial aid?
A: Yes. Generally, a student must be enrolled a minimum of six semester hours to receive federal financial aid.

Q: Will it affect my federal financial aid if I drop a class during the semester?
A: If your federal aid has paid to your account, your award will not be reduced. However, you may violate satisfactory academic progress (SAP) rules if you continually register and drop classes. If your aid has not paid to your account, your Pell grant will be reduced.

Q: Will it affect my West Virginia Higher Education Grant or Promise Scholarship if I drop a class during the semester?
A: Yes. Students receiving West Virginia Higher Education Grants must complete 24 semester hours each fall and spring. Dropping a class may affect your eligibility for the next aid year. Students receiving Promise Scholarships must complete 30 semester hours each fall, spring and summer. Dropping a class may affect your eligibility for the next aid year.

Q: Will my aid change if I move off campus?
A: No.

Q: Will my aid change if I change enrollment?
A: Possibly. If you change enrollment prior to your aid payment, please contact our office at (304) 710-3370 or ask a counselor to determine how your aid may be affected if you drop below full-time status (less than 12 hours) or less than part-time (six hours).

Q: Do I need a separate form to apply for a Student Loan?
A: You need only to file the Free Application for Federal Student Aid (FAFSA). All new students must do loan entrance counseling. You will be notified if you need to complete a loan promissory note.

Q: Do I need a separate form to apply for a Parent Loan?
A: Yes. Parent Loans are credit worthy loans. All parents who accept a parent loan (PLUS) should complete a credit check as soon as possible.

Q: How long after I complete my Ford Federal Loan promissory note before I can receive the money?
A: If all necessary paperwork is complete, a check for any refund due will be mailed to the student's local address in approximately 7-10 working days or applied directly to the Higher One card..

Q: How can I apply for work study?
A: Complete the Federal Work Study Application, available in the Office of Financial Aid. If you demonstrate financial need, you may qualify.

Q: Do I need to submit tax returns to the Office of Student Services?
A: Only if our office sends an e-mail requesting the forms to be submitted as part of the verification process.We must have Tax Return Transcripts directly from the IRS and cn no longer accept personal copies of the 1040 forms.

Q: What does it take to be considered an independent student?
A: Any one of the following will result in a student being considered independent for federal student aid programs:

Students who do not meet the criteria of an Independent student may ask for a dependency override. The US Department of Education feels that students under 24 years of age should be assisted by their parents in educational expenses. You cannot live with your parents and request a dependency override. A Financial Aid Committee will review your documents and notify you by letter of the decision. You will be asked to provide the following:

Q: If my parents are separated or divorced, whose income is reported on the Free Application for Federal Student Aid (FAFSA)?
A: The parent you live with should complete the FAFSA. If the parent you live with has remarried, the income of that parent and their new spouse (step-parent) must be used.

Q: What is the interest rate on my student loans?
A: Borrowers with loans made prior to July 1, 2006 will have a variable rate adjusted annually (July 1). The interest rate will not exceed 8.25%. Borrowers with loans guaranteed after July 1, 2006 will have a fixed rate interest, please see the chart for interest information on the Loan Information Page. Subsidized loans are need-based aid and interest does not accrue while you are in school. Unsubsidized loans are not need-based and the interest will accrue on a quarterly basis. You will receive a quarterly interest statement from the Loan Servicing Center. You may pay the interest if you choose but, you are not required to do so.

Q: What is the interest rate on my parent loans?
A: Borrowers with loans made prior to July 1, 2006 will have a variable rate adjusted annually (July 1). The interest rate will not exceed 9%. Borrowers with loans guaranteed after July 1, 2006 will have a fixed rate interest of 8.5%. Parent loans are repayable 60 days after the loan has been fully disbursed.

Q: Is the money I receive from financial assistance programs taxable?
A: Any scholarships, benefits, fellowships, or grants (gift aid) received from Mountwest Community & Technical College or any other source that, when combined exceed the cost of tuition, fees, books, and required equipment and supplies, are considered taxable income. Loans are not included. Since you are required to report taxable awards to the I.R.S. as income, you should keep a detailed record of all expenditures for tuition, fees, books, and required equipment and supplies. Housing and food are considered non-exempt, so money spent on these items is subject to income tax. For more detailed information, consult a personal tax advisor. Federal Work Study earnings are taxable and must be reported on tax returns.

Q: What should I do if my family's financial circumstances change after I apply for financial aid?
A: If a family's financial circumstances have changed due to death of a parent, divorce, separation, or loss of employment, they should contact the Office of Student Services. Special circumstances may include:

You may be asked to provide:

Q: Will the financial aid offered at one school transfer to another school?
A: No. Financial aid does not transfer from school to school. Students planning to transfer to another school should contact the Office of Student Services at both schools to find out what is required.

Q: Is there any aid available if I decide to attend summer school and how do I apply?
A: If you plan to attend the summer sessions, you must notify our office.

Q: What do I need to do if I need to take a class at another school while attending Mountwest Community & Technical College?
A: Mountwest Community & Technical College (the home school) students may choose to take classes at another institution (the host school). You must request approval to take credit as a transient student from the Office of Registrar at Mountwest Community & Technical College. If your request is approved, you will receive a letter of approval to earn credits as a transient student. The Office of Financial Aid at Mountwest Community & Technical College must have a copy of the transient approval letter in order to request a consortium agreement from the host school. The host school must confirm your enrollment before you can receive your financial aid.

Q: What happens if I list no income on the FAFSA application?
A: If you listed zero income on your FAFSA application, you may be selected for Verification.