Types of Financial Aid
There is a wide variety of funding available to assist students and their families with tuition, fees and other college-related expenses. Financial aid includes grants, scholarships, student loans and work-study.
Grants and Scholarships
Grants and scholarships are gift assistance and do not have to be repaid under most circumstances. If you receive your award letter before you register, you may charge tuition and fees up to the amount of your grant/scholarship eligibility. Any remaining balance can be used to charge required books and supplies if permitted by the terms of the grant/scholarship. If you have paid your own costs before receiving your award letter, or if you did not use all of your aid after tuition, fees, book and supply charges are paid, a check for the balance will be issued to you later in the semester, as long as you maintain eligibility. You are not allowed to receive federal financial aid at two institutions at the same time.
NOTE: Federal regulations require course attendance for all financial aid recipients. This process is detailed online in the College Catalog.
Awards are based on full-time (12 or more credits) attendance. Actual amounts are determined by your enrollment status at the end of the refund period for each class and may be reduced or cancelled at less than full-time enrollment. In general, grants are reduced to 75% at 9 - 11 credits, and to 50% at 6 - 8 credits.
For additional financial aid eligibility requirements, please access the following link: Standards of Academic Progress
Federal Pell Grant
To be considered, complete the FAFSA. Awards range from $605-$5,645. Eligible students must demonstrate financial need as determined by the federal methodology, meet standards of academic progress, not owe due to an over award or be in default on any Title IV Aid, and be working toward a Delta College academic degree or certificate.
The Consolidated Appropriations Act of 2012 reduces the duration of a student's Pell grant eligibility to a 12-semester lifetime limit. Students who have received Pell grant funds for the equivalent of 12 full-time semesters will not be eligible to receive this grant for future semesters. Full-time enrollment is defined as 12 or more credits per semester.
How do you know if you are nearing your lifetime limit? Your SAR (Student Aid Report - results from completing your FAFSA) will report the amount of Federal Pell Grant that you have received. You may also review the results at NSLDS.
Federal Supplemental Educational Opportunity Grant (FSEOG)
To apply, complete the FAFSA. Those students with the most financial need as determined by federal methodology will be considered first. Eligible students must also meet standards of academic progress, not owe a refund or be in default on any Title IV Aid, and be working toward a Delta College academic degree or certificate.
Michigan Competitive Scholarship Program (MCS)
Achieve a qualifying ACT score and complete the FAFSA using Delta College's school code (002251). Students whose FAFSA is received by March 1, will receive priority consideration. The Michigan Department of Treasury awards per academic year based on eligibility.
Tuition Incentive Program (TIP)
Eligible students must be under the age of 20 at the time of high school graduation/GED completion and have been a Medicaid recipient. To receive TIP at Delta College, students must submit copies of TIP letter from the State, high school diploma/GED and birth certificate. For a copy of your TIP letter, contact the Michigan Department of Treasury, Office of Scholarships and Grants at 1-888-447-2687. Eligible students must request in writing TIP renewal each academic year.
Michigan Indian Tuition Waiver (ITW)
Students with one-quarter minimum Native American blood quantum, who are enrolled members of a federally recognized tribe and legal residents of Michigan for one year or more may qualify. ITW covers tuition only, for any number of credits. For more information, visit michigan.gov/mdcr.
Board of Trustees Scholarship (BTS)
Each in-district high school will receive one scholarship. Each high school is responsible for determining and administering the process to nominate one student for the scholarship. Recipients must possess a 3.25 or higher GPA on a 4.0 scale or a 3.85 or higher GPA on a weighted scale. This scholarship pays for tuition and fees up to 62 credits. Scholarship can be used for up to four years, provided the recipient attends consecutive Fall and Winter semesters. Spring/Summer semester attendance is optional. Full-time enrollment is not required. Recipients must maintain a minimum 3.0 college GPA.
Board of Trustees Grant (BTG)
The BTG provides financial assistance for short-term training programs offered through the LifeLong Learning Office. Eligibility is determined by financial need. Grant pays for up to 1/3 of tuition costs or a maximum of $692. Applications are available in the Financial Aid Office and on the Financial Aid Forms page.
Adult Education Scholarship (AES)
Eligible in-district graduates are selected by their alternative high school administrator. AES will cover up to 6 credit hours of tuition only each semester, up to a maximum of 30 total credit hours. Program must be used within four years of the initial award.
External Scholarships are funds provided to students by local and national clubs, organizations, agencies and companies. Scholarship monies may be sent directly to the Financial Aid Office with instructions regarding disbursement. Scholarship checks made out to Delta College or Delta College and the student must be submitted to the Financial Aid Office for application to a student's account.
Students should use free state and national search sites to identify scholarship opportunities or visit their local library to search for community scholarships. Residents of Bay, Saginaw and Midland counties are encouraged to apply for scholarships through these local foundations:
Disability-Related Scholarships and Awards
Opportunities available specifically for students with disabilities.
Michigan Education and Training Voucher Program (ETV)
Educational loans are available to assist students with any unmet educational costs. Loans must be repaid, and should be considered carefully. Students should always file a FAFSA first in order to be considered for federal loan eligibility. When that eligibility is exhausted, parent and alternative loans are the next consideration. Watch the videos Responsible Borrowing to learn about your responsibilities as a borrower and what you should consider when taking out loans for college and Repayment: How to Manage Your Student Loans to learn more about changing repayment plans, postponing or reducing your payments, or combining your federal student loans.
Federal Direct Stafford Student Loans
Subsidized and unsubsidized are available. Both are paid back after graduation.
- Must be enrolled in a minimum of 6 credits.
- Must maintain academic progress.
- Dependent freshmen (0-29 credits) can receive up to $3500 in subsidized loans per year.
- Dependent sophomores (30 or more credits) can receive up to $4500 in subsidized loans per year.
- Dependent students may be eligible to receive an additional unsubsidized loan in the amount of $2000 per academic year.
- Independent students, as defined by the Federal Government on the FAFSA, are eligible to receive a maximum of $6000 in unsubsidized loans per year.
- The Direct Subsidized Loan enables undergraduate or graduate students who show financial need to borrow money to help pay for their educational expenses. Generally interest does not accrue until the student graduates, withdraws from school or drops below half-time. Students who receive Direct Stafford Subsidized Loans for the first time on or after July 1, 2013 may start incurring interest while in school. Learn more about the new 150% rule.
- Interest accrues on an unsubsidized loan while you are in school. You may choose to pay the interest while in school or capitalize the interest.
- To request a loan, log in to MyDelta and complete the Federal Direct Student Loan Request found in the Financial Aid section.
Federal Direct Parent Plus Loans
Enables parents with good credit history to borrow funds to help pay for the cost of their child's education. Students must be dependent as defined by the Federal government on FAFSA, enrolled at least half-time and maintaining satisfactory academic progress.
- Student must have completed a FAFSA and have it on record with the college.
- Interest rate is 7.21%.
- Repayment begins within 60 days after the final loan disbursement is disbursed for the period of enrollment for which the parent has borrowed for their student. Therefore, the first payment of a fall/winter loan will usually be due in February.
- No grace period. Interest begins to accumulate at the time the first disbursement is made.
- Parents who have Plus loans must begin repaying both principal and interest while student is in school or request deferment on the payment(s) of this loan as long as the student is maintaining half-time enrollment. www.StudentLoans.gov
- No loan meeting is required.
- The maximum a parent can borrow is equal to the cost of attendance (COA) minus any other financial aid the student receives.
- To complete a Direct Parent Plus Loan, visit www.StudentLoans.gov and go to Complete Plus Request Process.
- To endorse the Direct Parent Plus Loan after the Request Process, visit www.StudentLoans.gov and go to Endorse Plus Loan.
Options if PLUS is not approved
- Parent may be approved with an endorser (co-signer).
- Student may complete a Stafford Loan application and select the PLUS REPLACEMENT option of the loan. This enables the student to borrow additional unsubsidized loan with proof of Plus denial, up to an additional $4000.
- Private alternative loans may be available.
Federal Direct Plus Loans for Graduate and Professional Degree Students
Delta College is a community college and does not offer graduate degree programs; therefore, students are not eligible to apply for the Federal Direct Plus Graduate and Professional Degree loans.
The Direct Loan variable-fixed interest rates as of July 1, 2014:
- 4.66% for subsidized
- 4.66% for unsubsidized, and
- 7.21% for parent plus loans
Alternative Educational Loans
Prior to applying for an alternative educational loan, Delta College strongly encourages students to complete the FAFSA. Doing so, allows students to be considered for grants, as well as for Federal Direct student loans. For Federal Direct student loan consideration, students must also complete entrance loan counseling and a Master Promissory Note (MPN) at www.StudentLoans.gov and Delta’s loan request form available through MyDelta.
Federally funded Direct undergraduate student loans do not require a credit check or co-signer and offer fixed interest rates that are often more advantageous than alternative educational loans.
Alternative educational loans are available as an option for students whose program of study is not eligible for Federal Title IV financial aid, students who are not maintaining standards of academic progress, or those who show remaining need after all other financial aid is subtracted from their college's cost of attendance. In order to be eligible for an alternative educational loan at Delta College, you must be enrolled at least half-time. The combination of alternative loans and Federal, state and institutional aid and resources you are awarded cannot exceed the cost of attendance.
Following is an alphabetical listing of some private lending institutions that have offered alternative educational loans to Delta College students in the past three to five years. This listing is offered to assist those interested in researching alternative educational loan options. It is not intended as a comprehensive directory of private lenders and does not constitute an endorsement by Delta College of alternative educational loans or of specific lending institutions. We encourage students to visit lender websites to compare interest rates, repayment options and other loan terms and conditions. We also suggest that you investigate other alternative educational loan options, including your local bank or credit union.
Catholic Federal Credit Union
Note: Students must maintain Standards of Academic Progress to be eligible.
Note: After October 12, 2013, JP Morgan Chase & Co. will stop taking loan applications.
Note: After June 30, 2012, Chase will only offer loans to its existing customers with a Chase checking/savings account, loan, mortgage or credit card.
Dow Chemical Employees' Credit Union
Note: Students must be a credit union member and maintain a 2.0 GPA or higher. A co-signer may be required.
Fifth Third Bank
Note: No applications are being accepted at this time.
MI-LOAN (Michigan Alternative Loan Program)
Note: No applications are being accepted at this time.
Note: No applications are being accepted at this time.
The Higher Education Opportunity Act of 2008 requires that before a private educational lender may finalize a private education loan for a student in attendance at an institution of higher education, the private lender must obtain the signed, completed self-certification form. Most lenders will provide this form directly to students. If your lender does not, you can obtain a Private Education Loan Applicant Self-Certification form at the Delta College Financial Aid Office.
Other Financial Aid Resources
Students interested in obtaining additional education or training to re-enter the workforce should explore potential funding opportunities through their local Michigan Works and Michigan Rehabilitation Services agencies.