Sources of Financial Aid
Financial aid for students of Sierra Nevada College is available from a variety of sources in many forms. These include:
TEACH Grant | SNC offers the Federal Student Aid TEACH Grant for MAT and M.Ed. students. In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. For consideration for the TEACH Grant file the FAFSA and return the TEACH application. Click here for more information.
- SNC TEACH Application (PDF | DOC): Return application to Financial Aid by emailing email@example.com
- To qualify you must also complete: Agreement to Serve (ATS) & Initial and Subsequent Counseling
Federal Stafford Student loans are funded by the federal government and awarded by the student completing the FAFSA (Free Application for Federal Student Aid) . Interest rates for loans are determined each July 1st. Students accept loans(s) electronically on SNCSIS
- The Federal Direct Subsidized Stafford Loan is federally-sponsored “need-based” loan. The federal government pays the interest while you are enrolled at least half time. Interest begins to accrue upon graduation or separation from school. The current interest rate for subsidized loans is 3.4%
- The Federal Direct Unsubsidized Stafford Loan is a federally-sponsored loan which is not need-based but has no interest subsidy. The interest accrues from the date of disbursement. You may pay the interest while you are enrolled or defer the interest. Accrued interest will capitalize once when you enter repayment. Students are encouraged to make the interest payments while in school to help decrease the total costs of the loan. The current interest rate for unsubsidized loans is 6.8%
First-time borrowers must complete a Master Promissory Note (MPN) and Entrance Counseling before funds will be credited to the student’s account. You can complete the MPN online at www.StudentLoans.gov . You will need your federal pin. You must also complete Entrance Counseling online at www.StudentLoans.gov Per Federal regulations, loan funds for first-time borrowers will be disbursed 30 days after the start of the semester. Origination fees will be deducted with each disbursement from the amount of loan requested.
- Federal Parent Plus Loan for Dependent Undergraduate Students: Parents wanting to borrow through a PLUS loan must complete an online application and Master Promissory Note at www.StudentLoans.gov . Except for the VSAC Plus loan, SNC only accepts Federal Direct PLUS loans, so outside lender PLUS applications will not be processed. The Parent Plus loan is a credit-based loan with a current interest rate of 7.9%. Parents may opt to defer repayment until their student graduates, although interest will begin accruing when the loan is funded. Origination fees will be deducted from the amount of loan requested.
- Stafford Loan Forgiveness Program for Teachers | If you have received Stafford loans while at SNC and have been or will be employed for at least five consecutive, complete school years as a full time teacher in an elementary or secondary school designated as a low-income school you may qualify for loan forgiveness. For further information go to www.studentaid.ed.govand select repaying. Or call 1-800-4-FED-AID. For a list of eligible schools in Nevada go to www.TCLI.ED.GOV (location based on county).
Students with additional need may apply separately for alternative loans through outside lenders. Sierra Nevada College’s recommended lenders are selected by the quality of products and services they provide to students and families, and a student has the right to chose any outside lender to obtain student loans. The college will work with any alternative lender you choose. Please contact the Director of Financial Aid, Nicole Ferguson, if you would like help in selecting a lender.
VA Students / GI Bill
SNC certifies VA students for both the regular GI bill and the Post 9/11 GI bill (Yellow Ribbon Program) for fully admitted and enrolled students. In order to be certified, please submit the following to firstname.lastname@example.org.
- Copy of the form the VA sends you proving eligibility.
- If you are using your benefits at another institution, you will have to do a change of program/school (VA Form 22-1995). You can fill out this form electronically at: http://vabenefits.vba.va.gov/vonapp/main.asp
- Copy of all transcripts from every institution you have attended, including a military transcript; the links for the different branches are below in case you do not have your military transcript. If you do not have a military transcript, then I need a copy of the letter stating that you did not complete any training/education while in the service. The branch you were in will send this to you.Army transcripts: http://aarts.army.milNavy & Marines:https://smart.navy.mil/smart/signIn.do | https://smart.navy.mil/request.pdf(request form)Coast Guard:http://www.uscg.mil/hq/cgiAir Force: http://www.au.af.mil/au/ccaf/transcripts.asp
- Lastly, you will need to fill out a request for certification every semester you are enrolled at SNC. You can find the form at http://www.sierranevada.edu/admissions/undergrad/financial-aid/forms/
Sierra Nevada College is a member of the Servicemembers Opportunity Colleges. Visit http://www.soc.aascu.org/for more information.