Financial Aid Packaging

When awarding financial assistance, NCTA attempts to balance aid packages between gift aid (i.e., grants and scholarships*) and self-help (i.e., low interest loans and part-time employment).

Campus-based aid (i.e., Federal Perkins Loans, FSEOG and FWSP) is a limited federal resource and consequently is awarded on a first-come, first-complete basis. Therefore, it is important to apply as early as possible to be considered for this limited assistance.

*Note: All scholarships will be included as part of a student's total aid package, regardless of source.

First-Come/First-Complete

Students should apply as early as possible before the beginning of each award year.

Complete the Free Application for Federal Student Aid (FAFSA) as soon after January 1 as possible for the award year that will begin the following fall. Some federal funds (i.e., FWSP, Federal Perkins Loans and grants for priority applicants) are provided by the federal government and managed by OSFA, and because these funds are limited, they are awarded on a first-come, first-complete basis.

Need Determination

The financial information you and your family provide on the FAFSA is analyzed by a processor using a standard formula created by the United States Congress to calculate how much money individual students and their families can reasonably be expected to pay toward college expenses. This procedure is called need analysis.

After processing your financial information, the federal processor sends the results to NCTA, indicating how much you and your family are expected to contribute. We compare this amount with the cost of attending NCTA. If the cost of attendance is greater than what you and your family can provide, you are considered to have financial need and eligibility for aid.

In addition, students receive aid through state funds, college resources, and private sources, each with its own set of rules and regulations. Within federal, state, and college parameters, the OSFA works to see that you get the money for which you are eligible.

Tuition Waiver and Scholarships

The OSFA should be notified if you receive a scholarship, veterans' tuition waiver, or any other tuition waiver during the academic year and it does not appear on your financial aid notification. Scholarships and tuition waivers are considered part of your total financial aid package.

Ward of Court - Room/Board

Students who receive funding for room and board from the state must notify the OSFA of this benefit. This amount will be included as a resource towards your financial need.