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Types of Aid

Financial Assistance Available To SVC students

When you become a student at Skagit Valley College, financial aid may be available to you. Financial aid is given according to policies set by the Congress of the United States and the state of Washington. Families have the primary responsibility to meet educational costs. However, financial aid is available to meet the difference between family resources and yearly academic expenses. Below are the four types of financial assistance available to SVC students.

Grants

Grants

Applying for aid takes time, about 8-16 weeks. To apply for aid, you must complete a Free Application for Federal Student Aid (FAFSA). These are available from the Financial Aid Office or you may apply over the web at www.fafsa.ed.gov.  If you do not have a Personal Identification  Number (PIN) assigned to you by the federal processor please contact www.pin.ed.gov.  After the federal government processes your FAFSA, the SVC Financial Aid Office will send a request for additional information.

You may request that a paper FAFSA form be mailed to you. Please contact the Financial Aid Office.

Loans

Skagit Valley College participates in the Federal Direct Student Loan Program. Loans are financial aid monies that must be repaid. The loan is a long term, low interest loan through Skagit Valley College and the US Department of Education. This loan program requires you to complete the FAFSA form, additional information worksheets, along with the steps required to borrow money through the Direct Loan program.

Loan funds can be subsidized or unsubsidized. Subsidized loan funds do not accumulate interest until six months after the student ceases to be enrolled in six or more credits. Unsubsidized loan funds do not have interest deferred while the borrower is in school.

Federal Direct PLUS Loan – Parent Loans to Undergraduate Students are loans that are not based on need, that can be obtained by the parents of dependent students up to the cost of Education less any financial aid received. The interest rate for these loans will vary from year to year and interest is not deferred.

See the Direct Student Loan section for further information.

Work Study Programs

Federal College Work-Study: This federally funded program provides part-time on-campus work for students with financial need. If eligible, a student may work as many as 19 hours per week. You may choose from a variety of jobs that offer valuable career related experience. Payments are made once a month.

State Work Study: This state funded program provides part-time work for needy students in their major field of interest, either on- or off-campus. On-campus placement is coordinated by the Financial Aid Office. Off-campus employment is coordinated by the Cooperative Education program. Entry-level wages are paid (Temporarily suspended due to State budget cuts).

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Tuition Waivers

Federal College Work-Study: This federally funded program provides part-time on-campus work for students with financial need. If eligible, a student may work as many as 19 hours per week. You may choose from a variety of jobs that offer valuable career related experience. Payments are made once a month.

State Work Study: This state funded program provides part-time work for needy students in their major field of interest, either on- or off-campus. On-campus placement is coordinated by the Financial Aid Office. Off-campus employment is coordinated by the Cooperative Education program. Entry-level wages are paid (Temporarily suspended due to State budget cuts).

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