Saturday – October 25, 2014

 

Federal Regulations That May Affect Your Financial Aid

The Consolidated Appropriations Act of 2012 was signed into law. This legislation impacts federal financial aid programs and student financial aid eligibility.
  • The new law also reduces the duration of a student's Pell grant eligibility to a 12-semester lifetime limit. Students who have received Pell grant funds for the equivalent of 12 full-time semesters will not be eligible to receive this grant for future semesters. Full-time enrollment is defined as 12 or more credits per semester.

Please refer to your FAFSA S tudent Aid Report for your lifetime Pell grant status. If you are awarded Pell grant funds and later found to have exceeded the lifetime limit, the award will be canceled and you will be responsible for any charges.

Repeated Coursework

Federal regulations limit the number of times a student may repeat a course and receive financial aid for that course.
  • A student may receive aid to repeat a previously passed course one additional time.
  • If a student retakes a course that is not aid eligible, a recalculation of aid is done to exclude the credits for the repeated course. This rule applies whether or not the student received aid for earlier enrollments in the course.

The 150% Rule

When you receive financial aid, you are subject to the 150% Rule. This rule means that if you attempt more than 150% of the credit hours needed to graduate from your program of study, you will not continue to receive financial aid. If you exceed 150% in any one program, you will not be eligible to continue to receive financial aid. All of the credits that you have ever taken at MATC or transferred to MATC, whether financial aid was used or not, are counted in this 150% rule calculation. If you have changed programs of study, all credits that you have ever taken at MATC or transferred to MATC are counted, whether they can be counted toward the credits you need to complete your program of study or not.

You can access the 150% Rule Appeal form here.

Federal Student Loans

Milwaukee Area Technical College participates in the William D. Ford Direct Lending Program.

Students must be enrolled in a minimum of six (6) credits to be eligible for student loans.

Students who have not previously received a loan from MATC and are requesting a loan must complete Direct Loan Entrance Counseling and sign a Direct Loan Master Promissory Note (MPN). If you do not complete Direct Loan Entrance Counseling and sign a Direct Loan Master Promissory Note, your loan funds will not be applied to your account.

You may complete Online Direct Loan Entrance Counseling and sign a Direct Loan Master Promissory Note at studentloans.gov.

The MATC Federal School Code is 003866

The MATC Financial Aid office assists students by awarding financial aid to help pay education-related expenses. Financial aid is available from federal, state, and private resources. There are four primary types of financial aid programs: grants, scholarships, loans and federal work-study.

  • Grants and scholarships are free money you will not have to pay back.
  • Loans are money you will have to pay back.
  • Federal work-study is money you will not have to pay back. You earn federal work-study money by working a job approved through the MATC JOBshop. You can use this earned money to help pay for your education-related expenses.

How to Apply

The instruction sheet below has step by step directions on the financial aid application process as well as important information to remember throughout the application process.

Financial Aid Flyer

Click here to view/print 2014-2015 Financial Aid Information. (pdf)

How Financial Aid is Disbursed to Your MATC Student Account

At MATC your financial aid grants and scholarships will be disbursed to your student account starting the fourth week of the semester. If you are a returning student at MATC and have been awarded a loan at MATC before, your loan will also be disbursed to your student account starting the fourth week of the semester. If you are a new student at MATC, receiving a loan for the first time at MATC, your loan will be disbursed 30 days after the start of the semester. You must have completed your Entrance Loan Counseling and Master Promissory Note before any loan funds will be sent to MATC.

You can access Entrance Loan Counseling and Master Promissory Note here.

Your financial aid will not be disbursed before classes start.
We realize that having your books the first day of classes is vital to your academic success. You may be eligible to receive a book deferment if the MATC Financial Aid office has received your FAFSA and your financial aid has been awarded for the semester, or you have submitted all required financial aid documents to the MATC Financial Aid office. You are not eligible for a book deferment if your FAFSA has not been received. You can access the last date to purchase books on deferment by reviewing the Dates of Importance here.

It is for these reasons that it is important for you to complete your FAFSA application as early as possible to ensure that your financial aid has been awarded, so that you can get a book deferment and purchase books for your first day of classes.

You can access the financial aid disbursement dates by reviewing the Dates of Importance here.

You can view the amount of financial aid that you were awarded by going to MyMATC here.

Are You Eligible to Receive a Financial Aid Refund?
Once your financial aid funds have been disbursed to your MATC student account, all charges that you have incurred at MATC will be deducted. These charges may include tuition, fees, book deferments, and other charges that you may have incurred. Any financial aid funds that are remaining after all of your charges have been paid are processed into a financial aid refund check and mailed to the address that the MATC Registrar's office has on record for you.

If you are eligible to receive a financial aid refund check, the financial aid refund check will be mailed to you one (1) week after the financial aid has been disbursed to your MATC student account.

Tuition and Fee Information

Scholarships

Many scholarships are also available. Please click on "Scholarships" on the left margin of this page and/or contact the Financial Aid Office for scholarship information.

Use These Helpful Resources

Financial Aid Handbook

Wisconsin Educational Opportunity Program

www.fastweb.com