Types of Financial Aid

• Grants
• Scholarships
• Work-Study
• Loans

Grants

Grants are awarded based on financial need and do not need to be repaid. There are five grants available at Hawkeye Community College.

1. Federal Pell Grants

   Federal Pell grants are available to students who demonstrate a significant amount of need for financial aid. Students must complete the FAFSA to receive consideration.
   See the Financial Aid Handbook for more information.

2. Academic Competitiveness Grant (ACG)

   Academic Competitiveness Grants (ACG) are available to students that have received a Pell grant, are enrolled full-time in a 2-year degree program, have completed a rigorous secondary school program of study after 1/1/2006 for first year students or 1/1/2005 for second year students, and are a U.S. Citizen.
   Please see the Financial Aid Handbook for more information.

3. SEOG Grants

   SEOG grants are available to students who demonstrate a significant amount of need for financial aid. Students must complete the FAFSA to receive consideration.
   Please see the Financial Aid Handbook for more information.

4. Iowa Vocational Technology Grant

   The Iowa Vocational Technology grant is available for students who have their FAFSA form at the processing center on or before July 1, meet eligibility criteria, and are enrolled for at least three credit hours in a vocational program.
   Please see the Financial Aid Handbook for more information.

5. Iowa Grant

   The Iowa grant is available for Iowa residents who demonstrate a significant amount of financial need on their FAFSA. Funding for this program varies each year. Limited funds are available.
   Please see the Financial Aid Handbook for more information.

Scholarships

Scholarships are usually awarded on academic merit, talents, and sometimes need. Scholarships do not need to be repaid.

Hawkeye Scholarships

• List of available scholarships
• Scholarships are determined in the preceding semester
• To apply, submit a Hawkeye scholarship application.
• More on Hawkeye Scholarships

Other Scholarships

• The Financial Aid Office maintains a file of scholarships from outside agencies. Please stop in to view our listing.
• Fast Web Scholarships is an online tool to help you find available scholarships you qualify for.

Work-Study

The Work-Study program enables Hawkeye to employ students on a part-time basis.

• Students apply for the work-study program by completing their FAFSA.
• Preference is given to students who demonstrate a need for financial aid, have a good GPA, previously held a work-study position, and whose job performance is in good standing.
• Students may work on or off campus.
• Students earn $7.25 per hour and can work up to approximately 15 hours per week.
• Work-study awards are $2,000 - $3,000 per academic year and students can not earn more than their award.
• A listing of work-study positions is available online or in the Financial Aid office.
• Students are interviewed and hired by their immediate supervisor.
• Students complete timesheets and are paid on a monthly basis.
• Students must be in good academic standing to participate.

• Student Employee Handbook
• Work-study job listings
• Work-study orientaion

Learn more about how you can apply for the work-study program.

Loans

Loan terms vary and must be repaid usually six months after a student graduates or drops below 6 credit hours.

Hawkeye has two types of loans available: Federal and Institutional.

Federal Loans

The Federal Government has three types of loans in the William D. Ford Direct Loan program available for students attending at least half-time (6 credit hours). All students are encouraged to complete a FAFSA to determine which type of loan program they may qualify for.

1. Direct Subsidized Loans *

   The Federal Government does not charge you interest while you are enrolled in school at least half-time, during the six-month grace period, and during deferments. Students must demonstrate need on their FAFSA to receive this type of loan.

2. Direct Unsubsidized Loans *

   You are responsible for the interest charged beginning the date of disbursement until the day the loan is paid in full. You must decide whether to pay the accumulating interest while in school and during the grace period, or allow the interest to capitalize.

3. Direct Parent Loan for Undergraduate Students (PLUS) *

   Parents of dependent students without adverse credit history may borrow for their dependent child in this program. The amount of the loan cannot exceed the cost of attendance and repayment of the loan begins 60 days after the second disbursement.

   If interested in the Parent Plus Loan, please read our Parent PLUS letter. In addition, there is a brochure available in our office with details regarding the PLUS Loan Program.

   For more information please see the Financial Aid Handbook.

* First time Direct Loan borrowers must complete a Direct Loan Master Promissory Note and Direct Loan Entrance Loan Counseling. Students who have withdrawn from classes or have graduated must complete Direct Loan Exit Counseling.

The Federal Government is the lender in this loan program and the money is disbursed directly to the school for the student who has completed a Direct Stafford Loan Promissory Note. All loans must be repaid beginning six months after a student ceases to be enrolled at least half-time.

Please see the Financial Aid Handbook for more information.

Institutional Loans

The Fovall and McElroy Loans are two institutionally administered loan programs available for students for tuition, fees, and book expenses who meet specific criteria. Applications are available in the Financial Aid Office. For each of the loans:

• Applicants must have a minimum cumulative GPA of 3.0 at Hawkeye Community College at the time of the application, be at least a half-time student, and pass a credit report.
• Repayment of the loan is made on a monthly basis directly to the Foundation Office beginning 90 days after graduation or withdrawal from Hawkeye unless continuing at another institution of higher learning.
• Loan amounts will be applied first to tuition and fees.
• The current interest rate is 7.25%.

In addition to the above requirements, Fovall Loan applicants must be female.

Please the Financial Aid Handbook for more information and loan amounts.

Additional Loan Information

Students borrowing for the first time in the Federal Direct Loan program are required to:

1. complete a Loan Entrance Counseling session
2. complete a Master Promissory Note
3. be enrolled and attending class at least six credit hours (Fall, Spring, and Summer semesters) at each disbursement.

Students are encouraged to borrow only what they need. Failure to repay any loan may result in:

• poor credit rating
• garnishment of Federal Tax Refunds
• failure to acquire transcripts
• failure to obtain any future consumer loans

Loans are credited directly to the student's account in the Business Office provided the:

• applicant is registered and attending classes
• applicant is in good academic standing
• applicant has successfully completed all the necessary financial aid requirements.

Regardless of financial aid status, students are required to contact the Business Office prior to the invoice due date to determine payment options.

Financial Aid Office
Hawkeye Center - Main Campus
319-296-4020 or 1-800-670-4769 ext.4020
finaid@hawkeyecollege.edu