Miscellaneous
Grants
Federal Pell Grant
This is a federal program
designed to provide grants to students based on financial need. A maximum
award is determined annually by federal guidelines. Grant awards become
part of a student’s financial aid package. To receive a 100-percent
award, the student must be enrolled in 12 or more credits. To receive
a 75-percent award, the student must be enrolled in 9, 10 or 11 credits.
To receive a 50-percent award, the student must be enrolled in 6, 7 or
8 credits.
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Federal Supplemental
Educational Opportunity Grant (FSEOG)
As provided under the Higher Education Act, Federal grants are available
to students on the basis of financial need. The grant becomes part of
the student’s financial aid package. Students must be enrolled at
least half-time and must be eligible for a Pell Grant to receive the FSEOG.
Wisconsin Higher Education Grant (WHEG)
The amount of the grant is calculated by the Wisconsin Higher Educational
Aids Board and is based on financial need. This grant becomes a part of
the financial aid package developed by the Financial Aid Office. Students
must be Wisconsin residents and enrolled at least half time. For additional
information on state programs, log onto http://heab.state.wi.us.
Federal Stafford Loan
The Federal Stafford Loan is part of the Federal Family Education Loan
Program (FFELP). As an educational loan, it provides a low interest rate
and does not enter repayment until six months after the student graduates
or drops below half-time enrollment status. This six-month period is called
a grace period.
There are two types of Federal Stafford loans: subsidized and unsubsidized.
The college will determine what combination of the two the student is
eligible to receive.
Subsidized Federal Stafford loans are based on financial need as determined
by the Free Application for Federal Student Aid (FAFSA) and the Financial
Aid Office. The federal government pays the interest on this loan while
the student is enrolled at least half-time and during the grace period.
Unsubsidized Federal Stafford loans are not based on financial need; however
a FAFSA must still be completed. Students who do not quality for the subsidized
loans or need to supplement additional educational costs may use the Unsubsidized
Federal Stafford Loan. However, the borrower is responsible for paying
all of the interest on this loan at all times.
Students must be enrolled in an eligible program for at least six credits
to be eligible to receive a Federal Stafford Loan.
To apply: The first step is to complete a FAFSA. Applicants should
be sure to check “yes” to the question on the FAFSA that asks
if they are interested in student loans. The MATC Financial Aid Office
will send an award letter which includes the maximum amounts the student
is eligible to borrow from both the subsidized and unsubsidized loan program.
After the award letter is signed and returned to the MATC Financial Aid
Office, a Master Promissory Note (MPN) will be mailed to the student from
the Great Lakes Higher Education Corporation.
Students must complete a mandatory Entrance Loan Counseling form prior
to the release of any loan check. To complete the online Entrance Counseling
requirement, visit the Mapping Your Future Website at http://www.mapping-your-future.org/.
For additional information on student loans and the student’s online
account, visit the Great Lakes Higher Education Corporation website at http://www.glhec.org.
Federal Work Study
Under provisions of the Higher Education Act, employment opportunities
are available to students on the basis of financial need. The amount they
are eligible to receive becomes part of their financial aid award. Students
must be enrolled at least half time.
Minority Student Grant Program
This program is designed to improve retention and increase graduation
opportunities for second-year students enrolled in a two-year program.
Students must have completed at least 32 credits to be eligible for the
Minority Grant. Students must also show financial need and be enrolled
at least half time (6 credits). The Minority Student Grant Program provides
financial assistance to African-American, Hispanic, Native American and
Southeast Asian (Cambodian, Laotian and Vietnamese) students.
Native American Assistance Grant
Grants for Native American students are available through the Wisconsin
Higher Educational Aids Board and the Bureau of Indian Affairs. The grant
amount is based on financial need. Financial aid application procedures,
as previously outlined, must be followed in determining financial need.
In addition, a student must complete a separate Indian Scholarship Application
for the purpose of certification by the Bureau of Indian Affairs as to
the degree of Indian blood. A student must be enrolled full time to receive
a Bureau of Indian Affairs Grant and half time to receive a State Indian
Assistance Grant.
Talent Incentive Grant (TIP)
This program supplements the WHEG program and is targeted to serve disadvantaged
and/or minority students. Contact the Financial Aid Office for further
information.
If you have additional questions, visit Ask MATC to view frequently asked Financial Aid questions, or phone the Financial Aid Office at (608) 246-6170.
Last
Modified:
December 19, 2006
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