Financial Aid & Scholarships

Q: What types of loans are there?

Subsidized Loans Eligibility is based on financial need as determined from information provided on the Free Application for Federal Student Aid (FAFSA). You’ll find more information and current interest rates for federal subsidized loans at the Federal Student Aid website. Unsubsidized Loans Unsubsidized Direct loans are not based on financial need. Eligibility is open to any qualified student. You’ll find information and current interest rates for federal unsubsidized loans at the Federal Student Aid website. Federal Parent Loan for Undergraduate Students (PLUS) The PLUS loan is a loan that parents can apply for to assist with covering the cost of attendance. This loan is specifically for parents of undergraduate “dependent” students. For more information about subsidized and unsubsidized student loans, visit studentaid.gov.

Financial aid can seem confusing at first, but we're here to help. We are available on a walk-in basis M-F, 8am-5pm in Student Center Room 117, call us at (406) 756-3849, or email us at finaidinfo@fvcc.edu with your questions.

All financial aid determinations are based on the information on the Free Application for Federal Student Aid (FAFSA). In order to receive any type of aid, each student must complete a FAFSA form. FVCC's school code is 006777.

Fill Out FAFSA

Already applied? Check FAFSA status.

Types of Financial Aid

FVCC offers financial aid in the form of grants, scholarships, work-study, loans and/or some combination of these and each fund may have different requirements.

	Grants	Scholarships	Work-Study	Loans
Do you pay it back?	No	No	No	Yes (plus interest)
Primary Basis	Financial need	Merit, talent or need	Financial need	Financial need or credit
Action Required	Stay enrolled	Maintain GPA/criteria	Work a part-time job	Repay after school
Where it comes from	Gov (federal/state)	Schools or private orgs	Federal government	Gov or private banks

Scholarships

Grants

Work-Study

Loans

Scholarships and waivers are money awarded for merit, talent or specific criteria that either adds funds to your account (scholarships) or cancels out specific charges on your bill (waivers).

FVCC is proud to offer students a variety of scholarship opportunities:

There are 850+ donor-funded scholarships available. All you have to do is fill out one application to be eligible for over 850 different scholarships.

Please see our scholarships page for a full list of scholarships and waivers.

Grants are a form of financial aid that do not have to be repaid. Awards are given to students who demonstrate financial need through the FAFSA application process. Excluding the Pell Grant, an enrollment status of six or more credits is required to receive aid.

Federal Pell Grants

Federally funded program
Awarded to undergraduate students without a bachelor’s or professional degree
Eligibility determined by a student’s Expected Family Contribution (EFC), which is calculated from the FAFSA and enrollment status

Federal Supplemental Education Opportunity Grant (FSEOG)

Federally funded program
Awarded to exceptionally needy undergraduate students
Reserved for students who are eligible for Federal Pell Grant funds

Work-study is a federal and state-subsidized program designed to promote part-time employment of students to help them avoid excessive debt while in college. As a student employee, students gain valuable work experience, develop new skills, and earn a paycheck to help meet their educational and living expenses.

Work-study funds are awarded as part of a student’s financial aid package.
Work-study awards are based on financial need and available funding.
Any changes in a student’s financial aid package may result in a decrease in work-study funding.
A work-study award does not guarantee employment.
Students must participate in the recruitment process by applying to current student employment opportunities posted at on our careers page.

See our FAQs below for more information about work-study.

Loans are a form of financial assistance which requires repayment over time.

FVCC processes loans through the US Department of Education Direct Loan program. Direct loans are low-interest loans for students to help pay for the cost of education after high school. The lender is the US Department of Education rather than a bank or other financial institution.

All direct loans have a 6-month grace period. This means you will have six months from the time you graduate or stop attending school at least half-time (six credits) before you have to start making your student loan payment.

See our FAQs below for more information about loans.

Loan FAQs

Subsidized Loans

Eligibility is based on financial need as determined from information provided on the Free Application for Federal Student Aid (FAFSA). You’ll find more information and current interest rates for federal subsidized loans at the Federal Student Aid website.

Unsubsidized Loans

Unsubsidized Direct loans are not based on financial need. Eligibility is open to any qualified student. You’ll find information and current interest rates for federal unsubsidized loans at the Federal Student Aid website.

Federal Parent Loan for Undergraduate Students (PLUS)

The PLUS loan is a loan that parents can apply for to assist with covering the cost of attendance. This loan is specifically for parents of undergraduate “dependent” students.

For more information about subsidized and unsubsidized student loans, visit studentaid.gov. A deferment or forbearance is a postponement of payments for a specific period of time. Deferments are an entitlement of the Federal Student Loan Program and if you meet eligibility requirements, a deferment will be granted.

Common types of deferments are in-school deferment, unemployment deferment, and economic hardship deferment. Forbearances are granted at the discretion of the loan holder/servicer.

Interest continues to accrue during both deferments and forbearances for Unsubsidized loans. For Subsidized loans, interest continues to accrue during forbearances. Besides annual loan limits based on grade level, students also have cumulative loan limits. As a dependent undergraduate student the limit is $31,000 (maximum $23,000 subsidized). As an independent undergraduate student the limit is $57,500 (maximum $23,000 subsidized). For more information on loan limits, visit studentaid.gov. The origination fee for loans disbursed on or after October 1, 2017 and before October 1, 2018 is 1.066%. For loans disbursed on or after October 1, 2018, the origination fee will be 1.062%. The origination fee is a percentage of the principal amount of each Direct loan that you receive. The fee is deducted before you receive any of the loan funds. For the most recent interest rates and information, visit studentaid.gov. Consolidation through the Direct Student Loan Program is another repayment option, especially when a student has loans with multiple lenders.

Before consolidation, check with your current loan servicer to determine if you have any repayment benefits. Consolidation is not the best option for every student. Please evaluate this option carefully before consolidating your loans. FedLoan Servicing (PHEAA): 800-699-2908 | myfedloan.org
Great Lakes: 800-236-4300 | mygreatlakes.org
NelNet: 888-486-4722 | nelnet.com
Navient: 800-722-1300 | navient.com
CornerStone: 800-663-1662 | mycornerstoneloan.org
EdFinancial: 855-337-6884 | edfinancial.com
Granite State – GSMR: 855-337-6884 | gsmr.org
MOHELA: 888-866-4352 | mohela.com
OSLA Servicing: 866-264-9762 | osla.org FVCC’s current cohort loan default rate for FY 2022 is 0%. The FY 2022 national cohort default rate is 0%. Read more about cohort default rates for colleges.

Work-Study FAQs

Work-study awards are offered on a first-come, first-served basis for those students that complete the FAFSA as soon as possible. If a student is interested in work-study, they can complete our Work-study Interest Form. Eligibility for a work-study award depends on financial need as determined by the Free Application for Federal Student Aid (FAFSA). Since funds are limited, students applying by the priority filing date of March 1st and December 1st have the best opportunity to receive a work-study award.

In order to be eligible for student employment, a student must:

Be enrolled at FVCC as a credit-seeking student and maintain a minimum of six (6) credits per semester (audited classes are not considered degree-granted credits and do not count toward the credit hour requirement)

Maintain satisfactory academic progress per FVCC student guidelines.

View student job openings here, then complete and submit an application. Most posted student employment jobs require you to upload a resume to the online application system. Before you start your job search, be sure to have or create a resume.

Depending on the supervisor’s needs, the maximum hours per week a student may work is up to 19 hours.

For information and support with student employment, please contact the student employment coordinator at (406) 756-3985.

Work-study awards are not applied towards a student’s tuition bill, nor is the amount of the award guaranteed. An award authorizes a student to participate in the program and sets a limit as to the amount of income a student can earn during the academic year.

It is the responsibility of the student to work enough hours to reach the earnings limit, and to budget wisely throughout the year to meet necessary college costs.

Email Us