FAQ: Understanding Your Financial Aid Offer & Types of Aid

Back to Financial Aid Overview

What is the difference between Federal financial aid, State financial aid, and Institutional financial aid?

“Financial aid” refers to any funding designed to assist with your educational expenses. Most financial aid flows through the school and is applied directly to your student account.

FEDERAL: This financial aid is generally determined based on the information included on your Free Application for Federal Student Aid (FAFSA) and comes from the U.S. Department of Education. Examples include the Pell Grant, SEOG Grant, and Federal Direct Student Loans to name a few.

STATE: This financial aid may also use information included on the FAFSA to determine eligibility but sometimes requires an additional application. The primary difference is that the source of funding is from the state government. An example of State funded aid is the Arizona Leveraging Partnership Act (AZLeap).

INSTITUTIONAL: This financial aid may also use information included on the FAFSA to determine eligibility but primarily looks at other factors such as high school GPA and performance. Examples include Yavapai College Foundation Scholarships, Athletic Scholarships, Departmental Scholarships, etc.

Types of Aid Available at Yavapai College

Funding your college experience with Grants, Scholarships, Loans, and Federal Work Study.

Grants

Grants are gift aid offered to qualified undergraduate students demonstrating exceptional financial need. Grants do not have to be repaid as long as enrollment for the semester in which you receive the grant is maintained.

Federal Grants

Pell Grants
  • Students who have not received a bachelor's degree may be eligible for this federal grant program. The amount of the award will depend on your Student Aid Index (SAI) resulting from the FAFSA and student's enrollment status.
Federal Supplemental Educational Opportunity Grant (FSEOG)
  • FSEOG is awarded by YC to students with high financial need. The amount of the FSEOG award will depend on enrollment status. YC has limited FSEOG funds and awards are made on a first-come, first-served basis.  There is nothing students need to do in addition to completing their FAFSA.
  • Learn more at https://studentaid.gov/understand-aid/types/grants/fseog

State Grants

Arizona Leveraging Educational Assistance Partnership (AzLEAP)
  • AzLEAP is awarded by YC to Arizona resident students with high financial need. The amount of the AzLEAP award will depend on enrollment status. YC has limited AzLEAP funds and awards are made on a first-come, first-served basis.  There is nothing the student needs to do in addition to completing their FAFSA.

Grants are disbursed each semester based on your enrollment status at the Financial Aid Freeze date. Pell Grant recipients cannot receive more than 600% of Pell Grants in a lifetime. For more information, contact your financial aid advisor.

Loans

Student loans are optional funds for educational expenses and are considered self-help financial aid because you must repay the money loaned to you including any potential interest that may be accumulated. Be advised that credits considered for fall loan eligibility that are not earned in fall, will reduce spring loan eligibility.

The Yavapai College Financial Aid Office has adopted and abides by the Arizona Student Loan Code of Conduct and the NASFAA Ethical Principles and Code of Conduct.

Click here to compare Federal Direct Student Loans and private loans: https://studentaid.gov/understand-aid/types/loans/federal-vs-private

For details about Direct Subsidized and Direct Unsubsidized Loans, visit: https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

Information about Parent PLUS Loans can be found here: https://studentaid.gov/understand-aid/types/loans/plus/parent

For questions about loan repayment, this free resource may be helpful: https://my.studentconnections.com/

To learn how to request a Federal Direct Student Loan at YC, visit our loan page: https://www.yc.edu/financialaid/loan

Scholarships

Scholarships are a type of financial aid that does not need to be paid back and are awarded on various criteria, which usually reflect the values and purposes of the donor or founder of the award. They can be merit-based, need-based, student-specific, career-specific and/or college-specific. The links below provide further information about scholarships offered at Yavapai College and tips on applying for outside scholarships.

Scholarship Resources - includes YC Foundation Scholarships and outside scholarship links

Student Employment

YC offers part-time employment opportunities to eligible students.  Financial aid recipients may be eligible for Federal Work Study. Work study is aid earned in the form of a paycheck. Visit our Federal Work Study & Student Employment page.

How is financial aid awarded?

Title IV federal financial aid is awarded based on a student’s eligibility as determined by the FAFSA and their cost of attendance. Learn more about how financial aid is calculated by going here: https://studentaid.gov/complete-aid-process/how-calculated

Cost of Attendance (COA) is an average of what YC students reported spending in specific categories. Students are allowed to be awarded up to their COA. When a student’s award package totals, or exceeds their COA, we will review the students’ record to determine which award will be reduced. Depending on the timing of when all awards are posted or disbursed, this review may result in the reduction of a student's eligible Pell grant.

Need-based aid – such as the Federal Pell Grant – is awarded to students who demonstrate financial need, while non-need-based aid – such as Direct Unsubsidized Loans – is available regardless of need, though still subject to annual and lifetime limits.

Students’ financial aid offers are packaged by combining available grants, work-study, and loans, ensuring total aid does not exceed the student’s cost of attendance and, for need-based aid, does not exceed financial need demonstrated on the FAFSA.

Where can I view my financial aid offer?

After YC receives the FAFSA, students can view their financial aid offer by going to the “Offer” tab in the financial aid section of https://www.yc.edu/. Federal grants and federal loans are disbursed each semester based on your enrollment status and will be prorated if you are not enrolled full-time.

Please note that amounts listed in the “Offer” section of financial aid can change. Check back here regularly to view the current status. Factors that may trigger modification to the amount include, but are not limited to:

  • The number of credits required to be eligible for different aid types
  • Satisfactory Academic Progress
  • Lifetime Eligibility Used
  • Maximum Time Frame
  • Appeals
  • Verification Requirements
  • as well as other factors.

Federal student loans are not included in Yavapai College’s offer package. To receive a federal student loan, follow the steps listed here: https://www.yc.edu/financialaid/loan

Unsatisfied Requirements

After reviewing your FAFSA, YC may request additional documentation. If needed, these items will appear as “Unsatisfied Requirements.” If no unsatisfied requirements are listed, no further action is needed at this time. If you do have unsatisfied requirements, please submit the information requested as soon as possible to avoid delays in processing your financial aid.

When will I receive my financial aid?

After classes begin, your financial aid will automatically be applied toward your tuition and other charges. Financial aid may cover a portion of or all of your tuition balance. If you have any financial aid funds left over after paying your tuition and other charges, you’ll receive a refund about ten days after classes begin.

Review the refund amount by logging into https://www.yc.edu > My Account > Student Financials > Payment Center > Activity Details once the appropriate deadline has happened.

The quickest way to get your refund is to enroll in direct deposit by following these steps: https://www.yc.edu > My Account > Student Financials > Payment Center > My Account > scroll down to Direct Deposit Refunds > Enter your information here.

The "View Your Award Payment Schedule" on the Offers tab of the My Financial Aid shows: 

  • Expected date is the date that the funds have been released to pay towards your tuition balance at YC. This is NOT when you will receive the funds via check or direct deposit if you set up eRefund. It is generally 7-10 days after the expected date, review the academic calendar for more information. 
  • Expected amount is NOT the amount you are receiving as a check or direct deposit. This is the amount of each award, per term, before it’s applied to tuition, fees, or books. 

Check out YC’s Academic Calendar for important dates: Academic Calendar

Does my financial aid cover my total tuition balance?

Once you’ve registered for classes, your bill will be available in https://www.yc.edu> My Account > Student Financials > Payment Center > Activity Details. If your FAFSA has been received and processed, your financial aid award will be accounted for in the balance due. If there is still a balance due after financial aid is applied, then that balance will need to be paid through the Payment Center or by some other form of aid.

Buy Books with your Financial Aid

Students are eligible to charge books at the YC bookstore directly to their account if they have been awarded aid and have a credit balance after all tuition, fees, and room and board charges have been paid. Students will have the opportunity to charge books for a limited time. Please see the Academic Calendar for specific dates. If you have questions about bookstore purchases or opt-out forms (purchasing from a third party), please contact financial.aid@yc.edu. If a student chooses to use the bookstore opt-out form, they are no longer able to use their financial aid for that semester to purchase items at the YC bookstore.