Cost of Attendance (COA)
The estimated cost of attending Tri-County Technical College for one academic year. This amount includes:
Expenses the student and his/her family pays to the college
A form of financial aid that must be repaid with interest.
Private (Alternative) Loan: A loan from an institutional lender used to pay for up to the annual cost of attendance, less any financial aid received. Private loans typically require borrowers to be creditworthy or have a co-signer. These loans carry varying interest rates, fees, and repayment options. Repayment of interest (and often principal) generally begins immediately, with some lenders offering the options to defer for in-school periods.
Basic levels of enrollment - Undergraduate (students seeking an associate's degree, a certificate, a diploma, or a baccalaureate degree). Tri-County Technical College offers associate's degrees, certificates, and diplomas. The amounts and types of financial aid a student is eligible for is determined, partially, by their enrollment level.
Academic workload that a student is attempting for an academic period. This relates to the number of credit hours taken by a student during a given semester.
Full-time status: at least 12 credit hours
Three-quarter time status: at least 9-11 credit hours
Half-time status: at least 6-8 credit hours
Less than half-time status: 1-5 credit hours
Expected Family Contribution (EFC)
A measure of how much a student and his/her family can be expected to contribute towards the student's education for the academic year. The EFC is calculated according to a formula specified in the law. It is based on the information provided, on the FAFSA, by the student and his/her family.
Federal Pell Grant
A grant provided by the federal government to qualified undergraduate students who demonstrate exceptional financial need. These students have an Expected Family Contribution (EFC) below a threshold designated annually by the U.S. Department of Education, based on the amount of program funds appropriated by Congress.
Federal Supplemental Educational Opportunity Grant (FSEOG)
A grant provided by the federal government to qualified students who demonstrate exceptional financial need. Priority is given to Pell grant recipients and funds must be awarded by the school in lowest EFC order. (Limited amount appropriated and awarded by priority.)
Federal Work-Study (FWS)
Program that provides part-time employment to students who need the earnings to help meet their cost of postsecondary education. Program provides monthly wage to students and encourages students to participate in community service activities.
Aid awarded to a student that does not need to be repaid. Grants are typically based on financial need.
Expenses incurred that the student and/or family may pay to a third party other than the college (landlord, business, etc.)
The amount of direct and indirect costs remaining after all grants and scholarships are subtracted.
Difference between the cost of attendance and all grants and scholarships. Out-of-pocket cost can be covered through a variety of sources- savings, income, and educational loans.
Aid awarded to the student that does not need to be repaid. Scholarships awards are typically based on merit or a combination of merit and need, such as academic distinction, talent, affiliation with various groups, or career goals.
Financial aid in the form of loans or student employment. Loans are used to help pay the remaining net cost after all other aid is deducted. Student employment earnings (including Work-Study) are generally not deducted from billed costs. Earnings can be used to help cover indirect costs and are paid in the form of monthly wages to the student.
The process to confirm the accuracy of data provided by the student on the FAFSA. In order to complete the verification process, students are required to provide certain documents to the school for review.