Financial Aid Resources

Contact Us

Outreach Educators are available to assist students with the process of identifying and applying for financial aid and scholarships.

Please contact New College Institute if you have any questions about applying for financial aid, completing the FAFSA, or preparing for college.  We are available to speak with students of any age....and their parents who are considering completing their college degree as well.

Call Sammy Redd at (276) 403-5611 or Steve Keyser at (276) 403-5612.

E-Mail:     gotocollege@newcollegeinstitute.org  

Financial Aid Through Our Partner Institutions

Financial aid may be provided through our partner institutions.  Students who demonstrate financial need typically qualify for federal grants and loans.  To determine eligibility for an type of financial aid, students MUST first complete the Free Application for Federal Student Aid (FAFSA).  In addition, our partner institutions may offer scholarships and grants.  Contact the financial aid office of the college or university sponsoring your program at New College Institute.

Links:
     Averett University
     Longwood University
     Norfolk State University
     Old Dominion University
     Radford University
     University of Virginia
     Virginia Commonwealth University

FAFSA - Free Application for Federal Student Aid

ALL students applying for financial aid should complete a FAFSA application. 
Click Here To Apply

Students MUST apply by the priority deadline to qualify for all sources of state and institutional funding.  Students can apply after the priority deadline with the undertanding that some sources of aid will no longer be available. Listed below are specific FAFSA deadlines for our partner institutions:

James Madison University - February 15                                
Longwood University - March 1                                                
Norfolk State University - March 15                                         
Old Dominion University - February 15                                   
Patrick Henry Community College - June 1                            
Radford University - March 1                                                    
Virginia Commonwealth University - April 15 (March 15 preferred)                        

Local & Regional Scholarship Programs

Virginia Tobacco Commission Loan Forgiveness Program - www.tic.virginia.gov
Provides students with a loan of up to $1875 per semester.  20% of the total loan is forgiven (does not have to be paid back) for each year the student works in the southern Virginia region following graduation.  There are no financial, credit, or GPA requirements to participate in the program.  Funds disbursed on a first come, first served basis.  Program begins accepting applications March 1 for the 2010-11 academic year.

JT - Minnie Maude Scholarship - www.jtmm.org
Awards more than $1 million annually in scholarship funds available for students in this region.  The application is rather lengthy and can be confusing, but the scholarships are substantial.  Last year, scholarships ranged from $500 to $7500.  Financial need is considered, but not a determining factor.  Individuals living in the following counties are eligible:  Henry County, Martinsville City, Danville City, Pittsylvania County, Halifax County, Rockingham County, NC, and Caswell County, NC.  Application deadline for traditional-age students is April 3.  Application deadlines for non-traditional students are February 1, June 1, and October 1.

Martinsville Area Community Foundation - www.martinsvilleareacommunityfoundation.org
Students complete one application to qualify for a variety of local scholarships. funding is available for Henry County, Martinsville City, Pittsylvania County, Patrick County, and Franklin County.

Burroughs Scholarship Trust
Administered by BB&T, interested students should call to place their name on a waiting list beginning January 1st.  (All funds for 2010 are exhausted).  In previous years, the program has awarded grants up to $3000.  The phone number is (276) 666-3148.

Patrick Henry Community College Scholarship Program - www.ph.vccs.edu
Students who are taking classes at Patrick Henry Community College can apply for scholarships administered by the PH Foundation.  Students complete one application which is typically made available online in late March - early April.  Danville Community College sponsors a similar scholarship program.

Ben Gardner Scholarships - www.newcollegeinstitute.org
Administered by the New College Foundation, the Ben Gardner Scholarship Program awards scholarships to students expressing an interest in law, allied health, or the environment.  In 2008, the Foundation awarded two $2500 scholarships to New College Institute students.  Applications will be posted on the NCI website in Fall 2010.

Paying For College - Financial Easy Planner

Paying for college is no small undertaking.  There are many questions to consider:  what it will cost, how much you can save, how much can you and your family afford to pay, how much to borrow, and what scholarships are available to you.  College Board Financial Aid Easy Planner will help you answer all of these questions and more.
Click Here For More Information



SMART Grant

A new component of the federal student aid program is the SMART grant.  It provides up to $4000 per year for students in their third and fourth years of college who are majoring in some form of science, technology, engineering, or math.  Our IT program is included in the list of eligible majors.  This grant is available to any student who is Pell Grant eligible.
Click Here For More Information



TEACH Grant

Beginning in the fall of 2008, the Department of Education will began offering TEACH grants as another component of the federal financial aid program.  The program will award grants of up to $4000 per year to students planning to teach in high need fields in schools serving low-income students for four years following graduation.  (Note: all Martinsville City and Henry County public schools qualify).  TEACH grants are entitlements (no cap on number of participants) and are not need-based.  Sudents, however must complete the FAFSA to be eligible.
Click Here For More Information



Scholarship Search Websites

Helpful on-line tools to help you locate scholarships, internships, grants, and loans that match your educational level, talents, and background.  Students are also encouraged to visit local high school websites as well as the Patrick Henry Community College website for information about local, regional, and national scholarship programs.

College Board
Fastweb
PHCC Scholarships



Especially For Local Students

Comprehensive listing of available financial resources for local students.
Click Here For Details


The College Place

Free online resource for students of all ages and their families.
Click Here For Details


Books

These books are great resources for students motivated to extend their scholarship search beyond local and regional programs.

How To Go To College (Almost) For Free - by Ben Kaplan
The Ultimate Scholarship Book 2009 - by Gen and Kelly Tanabe

Lifetime Learning Tax Credit

Students can claim a tax credit for 20% of qualified educational expenses.  Qualified expenses include only tuition and fees (not books) and can be claimed for money that students pay out-of-pocket or through loans.  Example:

  Tuition & Fees:  $4,000
- Student Out-of-Pocket = $2,000
- Student Loan = $2,000
_________________________
 
  $4,000 (x20%)  =  $800 Tax Credit

Students should receive Form 1098-T in the mail from the college and should use it to claim the credit on their tax returns.