Receiving Financial Aid
Financial aid is awarded to students demonstrating a financial need. You are expected to contribute toward paying for your own education. Because of limited funding, most students will not receive a financial aid package large enough to meet all their needs.
- If you are a "dependent" student, both your and your parents financial income and assets are considered in the federal needs analysis process.
- If you are an "independent" student, only your and, if applicable, your spouse's financial income and assets are considered.
The actual need is determined by deducting your and/or your family's contribution from the cost of education. The cost of education takes into consideration tuition and fees for the number of credits you plan to take each semester, living expenses, the number of dependent children and transportation costs.
See Also: Student Rights and Responsibilities
How Aid is Awarded
Once your need is determined, a "package" of aid is developed (if eligible). All eligible applicants are first awarded a Federal Pell Grant. If you apply early, you will be given priority for certain funds. Financial aid awards and modifications are available on MyTMCC. It is your responsibility to check your financial status. Sight-impaired students may contact a financial aid staff member for assistance.
When Aid is Awarded
With the exception of loans, financial aid awards are applied directly to your account at the beginning of each term, provided the file is completed by the established deadlines. The financial aid award pays all charges on your account first, and if the award is in excess of what you owe, a residual check is produced.
Financial aid awards are initially created in expectation of full time enrollment. You may be eligible for financial aid at lower enrollment levels; however, your budget and awards will be adjusted accordingly. Revisions to your award can be viewed at MyTMCC. Adjustments to your enrollment level after your funds have disbursed may result in a change in your financial aid. You may be required to repay all or a portion of your awards. The total estimated Cost of Attendance shown on your award letter is a projection of overall costs you may incur for the academic year. Please note: your actual cost of attendance may vary depending upon enrolled credit hours, program specifications, lab fees and consumer lifestyle choices.
If part of the award is Work Study, you must look for a job on our jobs website, be put on the payroll and receive the money for the hours worked in the form of a paycheck, twice monthly.