Ways to Pay for College

Grants are based on need and do not have to be paid back.

• Eligibility is based on the results of the FAFSA
• The maximum award amount for 2016-2017 is $5,815 or $2,908/semester as a full-time student.  Any hours less than full-time will decrease eligibility amount.
• Eligibility amount is constant regardless of where the student goes to college
• If grant amount covers the tuition costs, any funds remaining will be refunded to the student for educationally related expenses

Note: Pell grant eligibility maximum usually increases each year by a minimal amount but not likely to decrease from the above amount.

Federal loans are low-interest loans that must be repaid.

• Eligibility is based on results of the FAFSA
• Funds are guaranteed by the Federal Government and borrowed from the U.S. Government
• There are two types of loans:
  • subsidized
  • unsubsidized
• Interest rates are variable every academic year, with a rate cap at 8.25%
• Repayment begins 6 months after graduation.  Payments are deferred if a student maintains enrollment of at least 6 credits/semester excluding summers.

• Students may receive federal aid ONLY for those classes within their degree plan
• Financial aid offices are required to have a Satisfactory Academic Progress Policy.  BRTC requires students to maintain a 2.0 term and cumulative GPA
• Students must work on one degree at a time to be eligible for financial aid.

The following process is required to apply for financial aid.

1. Complete a FAFSA (Free Application for Federal Student Aid) online at www.fafsa.ed.gov
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2. Notification of Eligibility
   • You will receive a SAR (student aid report) from the U.S. Department of Education
   • BRTC Financial Aid office will mail you a letter to indicate we have received your application results
   • Complete and return any enclosed forms immediately
   • FA office will determine your federal aid eligibility (grants and loans) and mail you an AWARD LETTER
   • Aid awarded is to be first applied to tuition, fees, and books
   • Any unused eligibility that semester will be refunded to you
   • ALL awarded aid can be reviewed any time by accessing Campus Connect
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3. Refund Checks
   • ALL refund checks will be mailed to the student’s current address on file
   • A message will be posted on Campus Connect indicating the refund has been mailed
   • An email will be sent to student’s BRTC email account indicating the refund has been mailed.  Instructions to activate the student email account can be found on the Check Email page of the BRTC website.

• PELL grant refunds are processed, if one is due, and mailed approximately 4 to 6 weeks from the beginning of the semester. For students who did not complete the FAFSA within time to be included on the first issuance of refunds, additional disbursements will follow once per month.
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• Student loan refunds are processed approximately the 4th week of class each semester.  Loans are issued in two (2) equal disbursements per semester. Dates for loans each semester are always posted on the Financial Aid Office section of BRTC’s website. Refunds for loans requested after a semester has begun are processed once per month.
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• ALL other refunds will be processed as BRTC receives funds from the funding sources.

The Federal Government requires students receiving Title IV (federal aid) funding MUST attend 60% of the semester before earning all aid received (ex. Pell).  Student eligibility is based on results of the FAFSA