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Financial Aid FAQs

Financial Aid FAQs

Q. How do I apply for financial aid at East Arkansas Community College?
A. Four Steps

Q. When can I complete my Financial Aid application (FAFSA) form?
A. FAFSAs will be accepted beginning October 1st of each year for the academic year beginning in the next fall.

Q. I applied for Financial Aid last year and completed my file in the Financial Aid Office. When do I have to complete another file?
A. A new application and file must be completed for each academic year. The application process can be started as early as October 1st.

Q. I don't live with my parents. Why do I have to have my parents' tax return?
A. A student is determined to be dependent and must submit the parents' tax return until the student:

  • is 24 years of age
  • has a bachelor's degree
  • is married
  • Provides more than half the support for children
  • Provides more than half the support for dependents (other than children or spouse).
  • is an orphan or was a ward of the court until the age of 18
  • is a veteran of the US Armed Services.

Q. I can't afford to pay for my classes and buy my books. Is it too late for me to apply for financial aid? 
A. Financial aid can be applied for at any time during the semester; however, students are required to have their financial aid files complete at the time of registration unless they plan to pay for the classes themselves.

Q. When will I get my financial aid refund check? 
A. Student refunds are divided into two parts.  The first half is released to students during the 7th week of classes. The remaining amount is released during the 12th week of classes.

Q. What documents are necessary to complete my financial aid file? 
A. All completed files must contain an EACC data form. If your SAR has been selected for verification, you must also complete the verification form and provide a copy of the tax returns to the Financial Aid Office.

Q. What grade point average do I need in order to qualify for financial aid?
A. Please see the Student Aid Satisfactory Academic Progress Policy on page 38 of the Catalog.

Q. Will academic suspension affect my financial aid? 
A. Yes. Students cannot receive financial aid if they are on academic suspension.

Q. What does EFC mean? 
A. Expected Family Contribution (EFC) measures the financial strength of the student’s family, and determines the student's eligibility for federal student aid during one school year. The student receives notification of the EFC on the Student Aid Report (SAR) after the student's FAFSA is processed.

Q. What is the yearly maximum amount that I may borrow on a guaranteed student loan? 
A. Maximum for freshmen is $3,500. Maximum for sophomores is $4,500.

Q. What is the maximum amount that can be received from a PELL grant each academic year? 
A.The maximum PELL Grant award for the 2022-2023 is $6,895 or $3,447.50 each fall and spring semester. The amount you get, however, will depend not only on your financial need, but also on your cost to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.

Q. I need to drop a class. How will that affect my PELL? 
A. The amount of Pell you receive is based upon the number of hours you are enrolled in and attending. To receive 100% of your Pell, you must be enrolled in and attending 12 credit hours or more; 75% is 9-11 credit hours; 50% is 6-8 credit hours.

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