Financial - Northwest Mississippi Community College

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what is workstudy? The You must complete the FAFSA and indicate that you are interested in work-study to be considered. Unfortunately, you cannot work as many hours as you want. The amount of money you earn cannot exceed your total work-study award, which ranges from 30-40 hours per month. If a student has remaining eligibility, work-study will be awarded. NWCC Work-Study: www.northwestms.edu/workstudy Personal Identification Number (PIN): www.pin.ed.gov Free Application for Federal Student Aid (FAFSA): www.fafsa.gov Pre-Application Worksheet for the FAFSA: www.studentaid.gov State Grants (MTAG, MESG): www.mississippi.edu work-study program provides on-campus jobs for students with financial need, allowing them to earn money to help pay for educational expenses. Positions are available in many locations on campus. Wages are $7.25 an hour. You will be paid by the school directly once a month. It is your responsibility to pick up your check from the Business Office or endorse it to the school to credit to your account. For more information, such as how to apply and what jobs are available, visit our Work-Study tab on our website (under the Future Students tab then click on <strong>Financial</strong> Aid) where you will find the printable documents needed to start your new on-campus job. helpful websites
what types ofLOANS are available? Direct Stafford loans are a major form of self-help aid. These funds are to be used for education purposes, which include tuition, books, supplies, room, board, and transportation. Unlike scholarships and grants, these funds do have to be paid back. There are several repayment schedules, but most begin six months after graduation or withdrawal from school or when the student becomes less than half-time, falling below six credit hours. Interest rates also vary. Direct Subsidized Stafford Loan Loans through the U.S. Department of Education are available to undergraduate students who demonstrate financial need. Borrowing limits vary according to classification and dependency status. The federal government pays the interest for the student until repayment begins. The interest rate is fixed at 5.6 percent. Direct Unsubsidized Stafford Loan Loans through the U.S. Department of Education are available to students without regard to financial need. Borrowing limits vary according to classification and dependency status. Annual eligibility is limited to the cost of attendance minus other financial aid the student receives. Even though repayment does not begin immediately, the student is responsible for interest charges that begin to accrue immediately. The interest rate is fixed at 6.8 percent. Direct Parent Loan (PLUS) Parent loans enable parents with good credit histories to borrow to pay the education expenses of their dependent undergraduate children. Annual eligibility is limited to the cost of attendance minus other financial aid the student receives. <strong>Financial</strong> need is not a requirement for this program. Repayment and accrual of interest begins immediately. Students must file the FAFSA to establish eligibility for the loan. The interest rate is fixed at 8.5 percent.
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Financial - Northwest Mississippi Community College

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