Get Going • Paying for College • Loans & Grants

Loans & Grants Available

Financial Aid has become more and more important to students as tuition costs rise and cost of living expenses escalate. The Somerset Community College Financial Aid Office has two locations to better serve you. Our main office is located in the Harold Rogers Student Commons Building in Somerset. We also have a branch location in London at our London North Campus – Building I. Our office hours are Monday thru Friday 8:00 am through 4:30 pm with extended hours on Thursday until 6:00 pm (Somerset only).

 

Few prospective students are aware of the many types of aid that are available. At SCC, we offer federal grants, state grants, scholarships, loans, and work programs. You may qualify for more than you realize. The first step is to complete the Free Application for Federal Student Aid (FAFSA) which is available at www.fafsa.ed.gov . This is a free website. Our college’s school code is 001997. This will be needed when submitting the FAFSA.

The Federal Pell Grant

This is a grant that does not have to be repaid as long as you remain in school and make satisfactory grades. Pell Grants range from $608 to $5350.

The Supplemental Education Opportunity Grant

This grant provides additional funds ranging from $200 to $400. Again, this grant does not have to be repaid.

The CAP Grant

The CAP Grant is sponsored by the state. Currently the amount of the CAP Grant is $950 for a full time eligible student. You must be enrolled for at least 6 hours to be considered for the CAP Grant.

Federal Family Educational Loan Program (FFELP)

FFELP at Somerset Community College consists of Federal Subsidized and Unsubsidized student loans. The FFELP is administered by guaranty agencies that insure lenders against any loss should a borrower default on the loan. Please inquire in the Financial Aid Office regarding loans. An online entrance interview is required for all loan applicants. This online interview can be completed at www.kheaa.com . Your financial aid file must be completed before an application will be released to you.

 

Loan Amount: $3500 for the first year of undergraduate study (29 credit hours or less) and $4500 for the second year of undergraduate study (30 credit hours or more).

 

The first disbursement for all loans within our college is delayed for 30 days after the beginning of the loan term.

Federal Work Study

We also participate in the Federal Work Study Program. We have several positions on our campuses to help students earn extra money while enrolled in college. Again, your financial aid file must be completed before being placed in a position or being added to the waiting list. Students are paid $7.25 per hour and typically earn $600 to $2000 during the academic year.

Kentucky Educational Excellence Scholarship (KEES)

The 1998 General Assembly provided Kentucky high schools student an excellent way to make their education pay. Students who graduate from an eligible KY high school with a GPA of 2.5 or higher can earn this scholarship. Also, there is a bonus amount for scoring a 15 or higher on the ACT. You may check your KEES eligibility at www.kheaa.com.

Scholarships

Scholarships are also offered through various funding sources. Some of the scholarships are need based and will require proof of financial aid. Scholarship applicants may be picked up in the Financial Aid Office or click here to print scholarship application now.

Overawards

Overawards are possible! Anytime you receive more financial aid than you are eligible to receive, an overaward is created. This includes all types of financial aid from grants, loans, work study, waivers, scholarships, etc. To avoid this from happening, please notify the Financial Aid Office of any money you are receiving from an outside source such as scholarships, third party assistance, etc.

Other Important Information

Payment of Aid

Refunds will be distributed through Higher One. Students will receive a debit card in the mail. Activate the debit card using the 16 digit number on the front of the card. Next choose your preference of how you want your refund sent to you.

 

If you receive a college-administered scholarship, you will receive credit on your student account for that amount. Any amount not covered by the scholarship and/or not paid by other financial aid awards will be an obligation to be paid by the student.

Any financial aid award is contingent on the actual receipt of funds appropriated to SCC by federal and/or state governments.

Standards of Progress

Federal regulations state that all students must be making measurable progress toward completion of their degree and be in good standing with the college. Students who do not meet the minimum standards of academic progress will not receive financial assistance until academic progress is reestablished. Student SAP policy (KCTCS website)

Financial Aid Ability to Benefit

All students receiving financial aid must submit proof of high school graduation or GED test scores prior to receiving financial aid. If a student does not have a high school diploma or GED, the student will be asked to take the COMPASS exam before enrolling in classes to determine if minimum scores are met for Ability to Benefit.

Financial Aid File

A student must be a degree-seeking student. He or she must have a completed financial aid file that may include documentation and verification material if requested by the aid office. Verification documents will be required for students chosen for verification. The documentation can include, but not be limited to, the verification worksheet, student/spouse tax returns and W2's or student/parents tax returns and W2's.

Watch for Deadlines

Make decisions early. Apply for the fall semester by the Kentucky priority deadline of March 15 if at all possible.

Notice of Awards

When your financial aid file is considered complete, you will receive an award in the mail. The award notice will list all of your financial aid, including scholarships, grants, loans, and work study eligibility. Typically award notices are calculated for full time students. If you do not register for full time status, your aid will be reduced accordingly.

Return of Title IV Funds

When a student who has received Title IV loans and grants withdraws from the institution during the semester or receives all E's and F's, the institution must determine the amount of Title IV money earned by the student during that enrollment period up to the date of withdrawal or midterm if no official withdrawal took place. The amount of unearned Title IV funds must be returned to the Title IV programs. In addition, the student will owe the institution the amount of money it was required to return in the student's name due to the withdrawal or incompletion.

For the Present and the Future

We urge you to keep in touch with the Financial Aid Office. We will periodically sent emails to all students on campus. Please check your email accounts regularly for updates and reminders.