Financial Aid / /

Set up Department of Education PIN number for student (and parent) Fill out FAFSA on the Web Recommended to use IRS Data Retrieval Tool to import Tax Return Information into FAFSA FAFSA Processes Application sends confirmation College Receives FAFSA Information College Processes FAFSA College Checks Financial Aid Eligibility (Type of Award(s) & SAP) College Awards Financial Aid Financial Aid Office and Business Office Reconcile Accounts LFCC / Financial Aid Process

Financial aid is funding provided to students and families to help pay for postsecondary educational expenses LFCC / What is Financial Aid?

Complete ASAP using the FAFSA with your 2011 tax return LFCC / When to Apply

Complete the Free Application for Federal Student Aid (FAFSA) form 1. Student Parent 2. Complete application online and submit online LFCC / How To Apply

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 Social security card and driver’s license  W-2’s from the previous tax year  Completed 2011 tax return Self Spouse Parent(s) LFCC / What Is Needed LFCC’s School Code:

 Untaxed income (child support, combat pay)  Veteran’s, military or clergy benefits/allowances  Business or farm records  Investments and checking/savings account balances  Alien registration number if not a U.S. citizen LFCC / What Is Needed LFCC’s School Code:

While completing FOTW, applicant may submit real-time request to IRS for tax data IRS will authenticate taxpayer’s identity If match found, IRS sends real-time results to applicant in new window Applicant chooses whether or not to transfer data to FOTW LFCC / IRS Data Retrieval Tool _________________________________________________

FEDERAL Pell Grant Federal Supplemental Education Opportunity Grant (FSEOG) Federal Work-study Program LFCC / Financial Aid Programs _________________________________________________

FEDERAL Pell Grant Actual award amount is based on the number of credits in which you are enrolled LFCC / Financial Aid Programs _________________________________________________ Enrollment StatusCredits Needed Full Time12 Credits + Three-quarters (3/4)Time9-11 Credits Half (1/2) Time6-8 Credits Less than Half Time1-5 Credits

FEDERAL Federal Supplemental Education Opportunity Grant (FSEOG)  Out of state students only  Must be enrolled in at least 6 credits Federal Work-study Program  Employment on campus with most positions average hours a week LFCC / Financial Aid Programs _________________________________________________

*STATE Commonwealth Award (COMA) Part-time Tuition Assistance Program (PTAP) Virginia Guaranteed Assistance Program (VGAP) *All state programs have limited funding – it is best to apply early to get the maximum award for which you are eligible LFCC / Financial Aid Programs _________________________________________________

*STATE Commonwealth Award (COMA) Only for legal residents of VA Must be enrolled in at least 6 credits *All state programs have limited funding – it is best to apply early to get the maximum award for which you are eligible LFCC / Financial Aid Programs

*STATE Part-time Tuition Assistance Program (PTAP) Only for legal residents of VA Must be enrolled in 1-8 credits *All state programs have limited funding – it is best to apply early to get the maximum award for which you are eligible LFCC / Financial Aid Programs

* STATE Virginia Guaranteed Assistance Program (VGAP) Provides funds to graduating high school seniors Dependent only students Must be enrolled full-time (12 credits) Minimum GPA: 2.5 *All state programs have limited funding – it is best to apply early to get the maximum award for which you are eligible LFCC / Financial Aid Programs

VETERANS Department of Veterans Affairs benefits Virginia Military Survivors and Dependents Education Program Veterans Affairs Coordinator : Kelsey Byard LFCC / Other Financial Assistance

TUITION PAYMENT PLAN Requires a down payment and an enrollment fee Not a loan – no interest is charged The earlier you sign up, the longer the payment period – select F.A.C.T.S. from the Quick Links menu LFCC / Other Financial Assistance

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Money students and parents borrow to help pay college expenses Repayment usually begins after education is finished Only borrow what is really needed Look at loans as an investment in the future LFCC / Loans

Subsidized Stafford Loan Unsubsidized Stafford Loans Parent PLUS Loan LFCC / What types of loans are offered?

For students with demonstrated financial need, as determined by federal regulations. Interest is charged while a student is in school at least half-time (6 credits), during the grace period, and during approved deferment periods LFCC / Subsidized Stafford Loans

Not based on financial need Interest is charged during all periods, even during the time a student is in school and during grace and deferment periods LFCC / Unsubsidized Stafford Loans

Unsubsidized loans for the parents of dependent students. Help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods LFCC / Parent PLUS Loan

Parents may defer payments until 6 months after the student graduates or leaves school (must request this option) This loan is the parent’s responsibility – it cannot be transferred to the student. Credit check required; cannot have adverse credit history LFCC / Parent PLUS Loan

Apply once each year Jan – March application awards for upcoming fall and spring All award notifications are sent to your LFCC student address. Must have the FAFSA completed as you will need to provide the EFC # on the scholarship app LFCC / Scholarships

Awards based on: Essay ratings – be sure to spell check! Current GPA (college or high school) Must submit high school transcript if you have never attended LFCC LFCC / Scholarships

Requirements for scholarships: Program of study; locality; single parent; first-generation college student; etc. Not all are merit based, some are based on financial need Do not have to be full-time or have a high GPA* *Unless required by scholarship donor. Minimum GPA to maintain award is a LFCC / Scholarships

Federal regulations require students receiving financial aid to meet Satisfactory Academic Progress (SAP) standards: GPA Completion Rate (must be at least 67%) 150% of program maximum Take the classes you need. Pass the classes you take. Utilize the drop and withdrawal dates in the academic calendar Audited classes are not eligible for financial aid If you stop attending classes, you may owe money back to LFCC LFCC / Satisfactory Academic Progress ______________________________________________________________

GPA Requirement: Must maintain a certain GPA depending on the number of credits attempted 67% Completion Rate: Calculated by dividing the number of completed credits by the total number of credits attempted. Must be or exceed 67% 150% credit maximum: Cannot exceed attempting 150% of credits required for your degree program (including transfer credits) LFCC / Satisfactory Academic Progress Credits AttemptedMinimum GPA 1-15 Credits Credits Credits2.0

If not meeting one or more of the SAP Standards, you will be notified via your LFCC student account. If you do not submit a valid appeal letter by the due date all financial aid for the upcoming semester will be cancelled LFCC / Satisfactory Academic Progress

Bookstore Spring bookstore accounts open through Feb. 11 (reminder for 2 nd 8 week courses) Loan only students have through Jan. 25 Copy of your schedule, student ID number and a photo ID are required Limited to $1,000 per semester Online ordering through Textbook rental is also offered LFCC / Bookstore & Other Information

Other Information Accounts will show pending or past due until after the Financial Aid Office and the Business Office reconcile all accounts Remainder checks are sent approximately half-way through the semester to your address on file LFCC / Other Information

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LFCC / Lord Fairfax Community College Your Future. Our Focus.