2002-2004 Catalog - St. Charles Community College

Tuition and Financial AssistanceEXAMPLE OF REPAYMENTLoan Balance 6% 8 % 10%At Repayment Pymt Months Interest* Pymt Months Interest* Pymt Months Interest*$1,000 $50.00 22 $56.25 $50.00 22 $76.87 $50.00 22 $98.49$2,000 50.00 45 237.03 50.00 47 333.94 50.00 49 442.94$5,000 55.51 120 1,661.50 60.66 120 2,280.01 66.07 120 2,929.47$10,000 111.02 120 3,322.46 121.33 120 4,559.31 132.15 120 5,858.09$15,000 166.52 120 4,983.96 181.99 120 6,839.31 198.23 120 8,787.13*Total interest over the life of your loan using the Equal Payment Plan.If your interest is capitalized, it will increase theamount you have to repay and could extend therepayment term. If you choose to pay the interestas it accumulates, you will repay less in the longrun. (See chart above.)Work-StudyWork-Study (part-time campus employment) isoften an option for eligible students. Hours workedare determined by need and by credit-hour enrollment.Application forms for the federal Work-Study program are available in the Financial AssistanceOffice. Work-Study checks are issuedbi-weekly through the Cashier’s Office.SCHOLARSHIPSScholarships are funds that do not requirerepayment. They range from a specific amountgiven in a particular semester to a full scholarshipof tuition, fees, and books for up to fourconsecutive semesters.A number of scholarships have been establishedat SCC and through our local community. Thescholarships at SCC include those establishedthrough the Board of Trustees, Foundation Office,Athletic Department, various SCC clubs,organizations, faculty, and staff. These scholarshipsare based on a wide range of criteria thatinclude academic achievement, career programsbeing followed, leadership involvement, talent, andathletic ability.The Scholarship Guide, a booklet that lists theSCC and local community scholarships andprovides pertinent information for applying, can beobtained from the Financial Assistance Office,Room 1115, in the Administration Building.Since there are literally thousands of scholarshipsnationwide, you may want to contact thelibrary for reference. If you have Internet access,you may find scholarships through various Internetaddresses that are provided in the SCCScholarship Guide.Notification of AwardYou will be informed of the decision on anapplication for financial aid as early as possible.Final awards cannot be made until you are actuallyenrolled and your enrollment status and cost ofeducation are determined. No awards will be madeuntil all required documents have been receivedand your previous course work at St. Charles CommunityCollege has been evaluated for satisfactoryacademic progress standards.Satisfactory AcademicProgressAll students receiving any form of financialassistance are expected to make satisfactory academicprogress. The standards for academicprogress are shown in the table that follows.The first column shows numbers of cumulativecredit hours and the second column shows theminimum cumulative GPA a student is expected toearn based on those credit hours.For example, if you have attempted 18 credithours, you will need to have a minimum cumulativegrade point average of 1.8.Cumulative Cumulative GradeCredit Hours Attempted Point Average*1-15 1.516-30 1.831 or more 2.0*Includes grades of A, B, C, D, and F. (Gradesof I, P, R, V and W are not counted in a student’scumulative grade point average.)All first-time financial assistance applicants musthave their previous grades from SCC and theircumulative completion rate from all previouscourse work evaluated prior to disbursement of anytype of federal financial assistance. NOTE: All financialassistance awards are pending until this processhas been completed. If you have not met the minimumstandards for grades and completion rate, youwill be placed on probation or suspension.25