Northeast Alabama Community College

Financial Aid FAQ

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?
   https://www.youtube.com/watch?v=K7ihhGk8mCY&feature=youtu.be
   
   
    
3. What if I forget my FSA ID password?
   Click the link below to find out how to reset your FSA ID password. 
   https://www.youtube.com/watch?v=ZvhBQH266lo&feature=youtu.be
    
4. What if I forget my FSA username?
   Click the link below to find out how to reset your FSA ID username. 
   https://www.youtube.com/watch?v=bZkF4ZoZwzc&feature=youtu.be
    
5. How do I submit a FAFSA application?
   To find out  information about completing a FAFSA application click HERE.
    
6. 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. 
    
7. How is dependency status determined?
   https://www.youtube.com/watch?v=dEbxaRjlLus
   
   
    
8.  What is an Expected Family Contribution (EFC) number & how is it calculated?
   
   What is the EFC?
   "The Expected Family Contribution (EFC) is a number that determines students’ eligibility for certain types of federal student aid. This number is calculated with the EFC formulas, which use the information that students provide on the Free Application for Federal Student Aid (FAFSA®). Financial aid administrators subtract the EFC from students’ cost of attendance to determine their need for the following federal student financial assistance offered by the U.S. Department of Education."
   
   How is the EFC Calculated?
   Click the links below to find out information on how the U.S. Department of Education determines a students EFC.
   
   2019-2020 EFC Formula Guide
   2020-2021 EFC Formula Guide
    
9. What's the myStudentAid App?
   To find out information about the myStudentAid App click HERE.
    
10. What is Northeast Alabama Community College's Federal School Code?
    001031
     
11. How do I accept my financial aid awards?
    To accept a financial aid award, you must login to your MyNACC account & select the Financial Aid tab, Award. Award for Aid Year,  Accept Award Offer & then accept or decline your award.