What is Financial Aid?
Financial aid helps students and their families pay for college. This financial assistance covers various educational expenses that my include tuition and fees, books and supplies, and transportation. Take a look at the menu on the left for all the details and options.
All students should complete the federal government’s Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov . TCL’s school code is 009910. You must complete the FAFSA for all financial aid including the SC Lottery Tuition Assistance program. Here’s a BIG tip, start the financial aid process early because it takes time to complete! Financial Aid qualifications vary. Once your FAFSA is submitted, please to follow-up with Financial Aid at 843.525.8207.Have FAFSA questions? Check out these helpful videos on everything FAFSA and get your questions answered.
Financial Aid Priority Deadlines
Avoid long lines and last minute completions,submit your financial aid application early.
|Term:||FAFSA Submission Priority Deadline||Document Submission Priority Deadline||Loan Submission Priority Deadline|
|2017 Summer I/ II||March 17||April 14||April 14|
|2017 Fall/Fall I||May 30||June 30||June 30|
|2017 Fall II||June 30||July 31||July 31|
|2017 Fall III||July 31||August 31||August 31|
|2018 Spring/Spring I||November 3, 2017||November 24, 2017||November 24, 2017|
|2018 Spring II||December 8. 2017||January 5, 2018||January 5, 2018|
|2018 Spring III||January 26, 2018||February 16, 2018||February 16, 2018|
24/7 Financial Aid Help!
To get financial aid help 24 hours a day, 7 days a week, 365 days a year!
Visit Financial Aid TV (FATV), an online video service that will help you find answers to all things financial aid.
- FATV is an online library of short (60-90 seconds each) video clips that are accessible on demand, 24/7.
- FATV videos communicate complex financial aid information in an easy-to-understand style.
- FATV covers a wide array of topics including Financial Aid, Financial Literacy, Loans, Grants, and more.
More About Financial Aid
Your financial assistance awards are used to pay student account balances. Any remaining awards will be disbursed according to a schedule provided by the TCL Business Office. Students are responsible for payment of funds owed to TCL if financial assistance funds are not received as anticipated. Students receiving financial assistance are subject to TCL’s registration, refund and credit terms. Refund of tuition, fees or other items purchased with a credit card will be processed as a credit to the cardholder’s account.
How Financial Need is Determined
The amount of financial assistance students receive is determined by the federal government and eligibility factors that could include:
– Prior year’s adjusted gross income
– Family size
– Untaxed income
– Number of dependents
– Number of family members attending college
– Other factors as determined by the US Department of Education
The federal government establishes the student’s Expected Family Contribution (EFC) and the TCL financial aid office compares it with the educational need of the student, determining the final types of eligible awards and appropriate aid amount. Financial need is determined by comparing the cost of attending college (including tuition, books, living expenses, transportation, personal expenses and child care) to the student’s available resources, such as money the student expects to contribute towards his/her education from wages, savings, other income, and parent’s contributions if the student is dependent upon the parent for support. The EFC is the amount of money the government expects the student and the student’s family to contribute toward the cost of education. The EFC is calculated by the U.S. Department of Education based on the information reported on the FAFSA.
Financial Aid Procedures
- Satisfactory Academic Progress
- Federal Pell Grant Program
- Federal Work Study Program
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Refund and Repayment to Title IV Fed Financial Aid Programs
- William D. Ford Federal Direct Stafford Loan Program
- Verification Process for Title IV Programs
- Veterans’ Education Benefits Program
- Lottery Tuition Assistance Administration
- Repeated Course Financial Aid
To help ease the financial burden for South Carolina college students and their families, the South Carolina General Assembly has created an income tax credit for tuition paid to South Carolina colleges and universities. To claim the credit, a Form SC 1040 must be filed. When preparing the South Carolina income tax return, Form I-319 Tuition Tax Credit must be completed. This form is included with all state individual income tax booklets. For more information about the tax credit, please visit the South Carolina Tuition Tax Credit website.