Financial Aid Overview

Getting a college education can be expensive. Even though Southwestern Michigan College has one of the lowest tuition rates in the region, we know that many students will need further financial assistance to make their educational dreams come true.

Generally, both full- and part-time students, should apply for financial aid. Although, many awards are based on financial need or on academic achievement, there are numerous community scholarships available that have various criteria for eligibility.

Federal financial aid, which is need-based, is designed to eliminate economic barriers to education, according to a federal formula used to evaluate the need. Students may be eligible for financial aid even if they don’t meet specific guidelines for financial need or scholastic achievement.

While some students may receive a financial aid award that pays for their tuition and books, other students may have to make up the difference between what financial assistance or scholarship opportunities they receive and what they can contribute. Together, these categories of financial assistance provide funding possibilities for students in virtually every situation.

Federal Tax Benefits

There are several tax benefits for educational expenses available to students and/or parents of students who file a U.S. tax return. In some cases, these benefits could result in a tax credit or deduction that would equal the full cost of tuition and fees for an SMC student!

For additional information on federal tax benefits for educational expenses, including who qualifies and how to apply, review the Parent and Student Guide for Tax Benefits.

Many Southwestern Michigan College students receive some type of financial aid. Financial aid at SMC falls into five main categories:

• Grants: Money a student gets based on need that is not paid back.
• Scholarships: Money that is given based on grades or talent that is not paid back.
• Employment Opportunities: Money earned by the student who is employed by SMC as a work study while attending college.
• Loans: Money borrowed for college that is paid back.
• Payment Plans: Monthly payments for tuition and fees. SMC has a no interest tuition payment plan through the eCashier™ FACTS Payment Plan. If you are interested in taking advantage of this payment plan, you should contact the Lori Collins, Accounting/Third Party Billing, at (269) 782-1298 or e-mail lcollins01@swmich.edu

Financial Aid advisors are available by appointment or on a walk-in basis at the Dowagiac campus and by appointment only at the Niles Area Campus.

Resources

The National Association of Student Financial Aid Administration (NASFAA) publishes the Parent and Student Guide to Federal Tax Benefits for Tuition and Fees to provide students, parents, counselors, and others with general guidance to federal education-related tax benefits. The Guide includes basic information about the Hope Scholarship Tax Credit, the Lifetime Learning Tax Credit, and the Tuition and Fees tax Deduction.

A great source of additional financial aid information is FinAid! – The Smart Student Guide to Financial Aid. This Web site is comprehensive, informative, objective, and free of charge to all users.

Please refer to the related links section of this page for a links to these resources.

The Financial Aid office at the Dowagiac campus and the Financial Aid advisor at the Niles Area Campus are ready to help you. Contact them to determine if you qualify for federal or state financial aid programs.