Financial Aid Overview

Your dependency status determines whose information you must report when you fill out the Free Application for Federal Student Aid (FAFSA^®) form.

A dependent student is assumed to have the support of parents, so the parents’ information must be assessed along with the students to get a full picture of the family’s financial resources. If you’re a dependent student, it doesn’t mean your parents are required to pay anything toward your education; this information is simply used to determine the student’s maximum eligibility for federal student aid.

If you answer “No” for any of these questions below, you may be considered a dependent student for 2024-25:

• Were you born before Jan. 1, 2001?
• As of today, are you married?
• Are you currently serving on active duty in the U.S. armed forces?
• Are you a veteran of the U.S. armed forces?
• Do you have children or other people (excluding your spouse) who live with you and who receive more than half of their support?
• At any time since you turned age 13, were you an orphan?
• At any time since you turned age 13, were you a ward of the court?
• At any time since you turned age 13, were you in foster care?
• Are you or were you a legally emancipated minor, as determined by a court in your state of residence?
• Are you or were you in a legal guardianship with someone other than your parent or stepparent, as determined by a court in your state of residence?
• At any time on or after July 1, 2023, were you unaccompanied and either (1) homeless or (2) self-supporting and at risk of being homeless?

Special & Unusual Circumstances

Dependency Override: Students who have been classified as dependent according to the criteria established by the Federal Government may petition for reclassification to independent status based upon documented extenuating circumstances

To request and petition the school to consider an independent student status, complete a Petition for Independent Status, available on our website under forms and publications or by email request askpafa@penncotech.edu.

Dependent FAFSA filers whose parents are unwilling to provide information on the application may be eligible for Unsubsidized Direct Loan assistance only.

Students whose marital status changes should provide our office with a copy of their marriage certificate so that we can update their application information. For dependent students, changes in their marital status will change their dependency status and eligibility for aid. Additional documentation (ex: student and spouse’s tax returns transcripts may be requested.

Change in Income: If you or your parent(s) financial situation changes after you have filed your financial aid application or at any time during the academic year, you should submit a letter explaining your special circumstances along with supporting documentation to the Pennco Tech Financial Services Office. Changes in your financial situation include, but are not limited to:

• loss of employment
• disability
• illness,
• separation or divorce
• death of a parent or a spouse.

To request and petition the school to use a Projected Year Income, submit your request by email to askpafa@penncotech.edu.

Note: Your request will not be considered without supporting documentation.

Tuition and Fees – Pennco Tech uses actual tuition amounts for each program as outlined in the student’s Enrollment Agreement.

Miscellaneous Personal Expenses – The allowance for miscellaneous expenses is intended to allow students a reasonable standard of living. The allowance may include clothing, recreation, and personal care expenses.

Loan Fees – For students or parent(s) borrowing through the Federal Direct Loan Program, schools must include in the COA any fees deducted from loan proceeds. The law requires a loan fee be charged on all Direct loans to help offset the cost of providing loan funds. Fees are deducted from the loan proceeds before disbursement. Pennco Tech uses the actual cost of the loan fees in determining the COA.

Transportation Expenses – The transportation component of the COA includes the cost of a students’ travel as it relates to attending school. The transportation figure is based on the cost of transportation to and from school. The transportation component of the budget is constructed based on the average number of miles traveled monthly multiplied by the federal mileage reimbursement rate multiplied by the number of months the student will be enrolled. Federal regulations prohibit including in student budgets the direct expense to purchase and maintain an automobile.

Living Expenses Room and Board expenses are based on the College Board guidance for living expenses, published each year.

Books, Course Materials, Supplies and Equipment – The books and supplies allowance are adequate to cover the cost of required materials for the student’s coursework.  Pennco Tech purchases books and/or supplies from its distributor. Students are packaged for their books, supplies and tools, if the student wishes to purchase books and supplies from Pennco Tech.

Net Price Calculator Tool for Pennco Tech Bristol Campus
You can use this tool to get an estimate of your EFC, Cost of Attendance and Estimated Financial Aid:

https://www.penncotech.edu/npc/Bristol/npcalc.htm

College Financing Plan
This resource tool will help you better understand your educational costs and the financial aid that is available to meet those costs.  This form was created by the Department of Education (ED) and is available to help prospective students compare the cost of attendance (COA) and aid offers from multiple institutions in order to make an informed decision about where to attend school.  

Please contact the Financial Services office for your personalized College Financing Plan.

College Affordability & Transparency Center
This provides the Department of Education tools for comparing college costs, please visit: https://collegecost.ed.gov.