Financial Aid FAQ

Important for all students - please use this link to watch a video on how to access your MyNACC Single Sign-on portal. You will need to select the Banner SSB application to accept financial aid awards and complete financial aid requirements. /about-nacc/college-offices/educational-technology/#MyNACC%20Demo

1. What types of Federal Student Aid are offered?

• Grants - These do not have to be repaid. (Unless you withdraw from school and owe a refund)
• Work Study - A program that allows you to work to help pay for school.
• Loans - Money that is borrowed to help pay for college that must be repaid, with interest.

Click the link below for more information.
https://www.youtube.com/watch?v=Pn4OECMTh5w

2. How do I create an FSA ID?

Video on how to create an FSA ID

Video on how to create an FSA ID for a person with no SSN

3. What if I forget my FSA username or password?

Click the link below to find out how to reset your FSA ID username.
https://www.youtube.com/watch?v=lIwnEbOXSGg

4. How do I submit a FAFSA application?

To find out information about completing a FAFSA application click HERE.
On-campus FAFSA Help Sessions are offered every Wednesday at 1:00 p.m. in the Student Center room 111. Please use the following link to register for a FAFSA Help Session https://northeast.secure.force.com/events#/list?keyword=FAFSA.

5. How often do you have to reapply for FAFSA?

Every Fall Semester begins a new award year. Priority deadline to submit a FAFSA application and have your financial aid processed in time for Fall Semester is

July 15th

6. How is dependency status determined?

https://www.youtube.com/watch?v=dEbxaRjlLus

7. What is an Student Aid Index (SAI) number & how is it calculated?

What is the SAI?

Your Student Aid Index (SAI) is a formula-based index number ranging from –1500 to 999999. Where your SAI falls within the SAI range helps your school determine how much financial support you may need. A negative SAI indicates you have a higher financial need. Your SAI is an index number used by financial aid professionals when creating an aid offer. Your SAI is calculated using information that you (and other contributors, if required) provide on the Free Application for Federal Student Aid (FAFSA^®) form

Your SAI is not

• a dollar amount of aid you’ll receive,
• what your family is expected to provide, or
• your final financial aid offer. 

1. Log in to StudentAid.gov using your account username and password.
2. Select your processed FAFSA submission.
3. Select “View FAFSA Submission Summary.”
4. Select the “Eligibility Overview” tab.

How is the SAI Calculated?

Click the links below to find out information on how the U.S. Department of Education determines a students EFC.

Student Aid Index Calculation (SAI)

8. What is Northeast Alabama Community College's Federal School Code?

001031

9. How do I view and complete my financial aid requirements?

Sign in to your MYNACC student portal.

Select BANNER SSB, (you will be required to sign in again using the same MYNACC credentials)

Select “Student” Tab

Select “Student Landing Page”

Select “Financial Aid Dashboard”

Select “Aid Year” (2024-2025)

Your requirements should show up on the main screen.

For the Indirect Charges to Title IV Authorization, Select the Questions box to Accept/Decline.

10. How do I view/accept/decline my financial aid awards?

Sign in to your MYNACC student portal.

Select BANNER SSB, (you will be required to sign in again using the same MYNACC credentials)

Select “Student” Tab

Select “Student Landing Page”

Select “Financial Aid Dashboard”

Select “Aid Year” (2024-2025)

Select “Award Offer” Tab

The Pell Grant is automatically accepted. You only need to Accept/Decline your student loan.

11. Do I have money for books?

Sign in to your MYNACC student portal.

Select BANNER SSB, (you will be required to sign in again using the same MYNACC credentials)

Select “Student” Tab

Select “Student Landing Page”

Select “Make a Payment, Deposit, and Payment Plan”

Once the webpage loads, you should see your balance on the home screen with the authorized aid factored in. ***Please remember a positive balance means you still owe a portion. A negative balance means you are due a refund. You can use your refund for books.

12. Has my financial aid been approved or applied?

Sign in to your MYNACC student portal.

Select BANNER SSB, (you will be required to sign in again using the same MYNACC credentials)

Select “Student” Tab

Select “Student Landing Page”

Select “Make a Payment, Deposit, and Payment Plan”

Once the webpage loads, you should see your balance on the home screen with the authorized aid factored in. ***Please remember a positive balance means you still owe a portion. A negative balance means you are due a refund.