NMC students oriented on financial aid

The Northern Marianas College Financial Aid Office recently held a presentation and workshop at the NMC Student Center for ongoing and new students to orient them on the different financial aid options open to them and the ways of availing of these assistance.

According to the weekly news update from the college, the presentation was divided into two parts. The first part consisted of information on available federal, state, and local financial aid that are out there for students to apply, how students can retain their financial aid, and what to look out for when searching for financial aid.

The second part was about the procedures for filling out the 2006-2007 Free Application for Federal Student Aid or FAFSA.

Though FAO expected more, only seven students attended the workshop but they were very attentive and raised several questions, which the FAO staff was able to answer.

Some students who attended failed to bring their 2005 1040s so they were asked to visit FAO during the next several days with their 1040s to complete their application.

The workshop also educated the students about Pell awards processing, which normally takes four to 12 weeks to process.

“The most frequent misconception students have is that once they apply for financial aid or the FAFSA they are automatically awarded,” said NMC, adding that that is not always the case. It said that applying only tells the students if they are eligible or not based on their EFC number.

The FAO will have to verify all applications before the student is awarded financial assistance. The awarding period comes when FAO sends out the award letters to students.

This is why the Financial Aid Office is once again encouraging all students who plan to enroll at NMC this Fall 2006 to apply as early as possible in order to be awarded during the registration period. Deadline to apply for Fall 2006 Pell grant is on Sept. 8, 2006.

New tuition rates are now in effect at the Northern Marianas College, with resident students shelling out $30 more per credit hour beginning August this year.

Starting Fall 2006 semester, resident students will have to pay $95 per credit course. This is a 31-percent increase over the old rate, which was $65 per credit hour for resident students.

The college first announced the rate hike during NMC’s 25th Silver Anniversary Commemoration Day in March.

The board earlier said the move is part of plans to help the college cope with its severely limited budget for the year.

Apart from the tuition hike, the college also halted its hiring requirements. NMC BOR chair Kimberlyn King-Hinds said the hiring freeze would equate to $588,356 in related savings but would also result in fewer instructors, less counselors, and one less school dean.