Financial Aid
Financial aid bridges the gap between the cost of your education and what you can afford to pay.
Almost three-quarters of MCTC students receive some form of financial aid to help cover their educational expenses. Do not assume that you will not qualify – apply!
Financial aid at MCTC can take the form of grants or scholarships (which you don’t need to pay back), federal student loans or work study.
Note: Beginning with the 2012-2013 award year, you can only receive a Pell Grant for up to a maximum of 12 semesters or the equivalent. More information about Pell grants can be found here.
When to apply
- Start now. You don’t have to wait until you’ve applied to the College or enrolled for courses. The earlier you complete your application, the earlier you will know what financial aid you will receive.
- Submit a FAFSA as soon as possible after January 1 for the academic year that starts in the fall. The Free Application for Federal Student Aid (FAFSA) is the first step in applying for financial aid. The information you are asked to provide on the FAFSA is used to determine your eligibility for grants, federal loans and work study. Some of the information is from the previous year’s income tax filing.
- The FAFSA on the Web Worksheet tells you what documents (for example, your tax forms) you'll need to refer to as you fill out the FAFSA, and it shows you the FAFSA questions so you can fill in your answers in preparation for applying at www.fafsa.gov. The worksheet is an optional tool; you can go straight to the FAFSA website to apply if you prefer.
- We strongly encourage you to use the IRS Data Retrieval Tool to update your FAFSA with IRS tax return information. This video contains instructions on using the IRS Date Retrieval Tool.
- Apply for a federal student loan after you have received an award letter and have registered for your courses. Allow 2 weeks for the loan to be processed.
- You apply for financial aid every year. Financial aid is awarded for the academic year that starts in the fall. For a second academic year at MCTC, start a new application.
- Summer financial aid is based on remaining eligibility from the previous academic year.
Financial aid priority dates
Fall 2013: July 12, 2013
Spring 2014: December 6, 2013
Submit the FAFSA and any requested documents by the priority date and you will know your award before the start of the semester.
About financial aid
Types of awards
You may be offered one or more of these types of financial aid. Here’s what you need to know and do:
