W HAT I W ISH THE C OUNSELORS K NEW A BOUT F INANCIAL A ID Presenter: Andrew Hammontree Financial Aid Director at Francis Tuttle Technology Center August 2, 2013

T OPICS Application Process Eligibility Satisfactory Academic Progress (SAP) Pell Lifetime Eligibility Used (Pell LEU) Consumer Information Communication

A PPLICATION P ROCESS Every student who receives federal aid (Pell, SEOG, Work-Study) or OK Tuition Aid Grant must complete the FAFSA. Students may have to include parent information if they are considered dependent by the Dept. of Ed. Born before 1990 Married Veteran or serving on active duty in the U.S. Armed Forces Providing more than half the support for children or other dependents Emancipated minor In a legal guardianship Homeless

A PPLICATION P ROCESS (C ONT.) Most students (and parents) can link to the IRS to import tax information. Students and parents can sign their FAFSA with a PIN. Once the FAFSA is submitted, an electronic copy goes to the school(s) listed on the application. The Financial Aid Administrator reviews the results and notifies the student if they have to complete additional paperwork. Any corrections will cause the application to be re-processed.

E LIGIBILITY Must be a regular student in an eligible program FSA Funds cannot be given for remedial coursework that is not part of the regular program Must have a HS diploma or its recognized equivalent (GED); or completed homeschooling program as defined by state law If student was enrolled in an eligible program prior to July 1, 2012, and does not have a diploma or GED, s/he can qualify under ATB. Must be making Satisfactory Academic Progress (SAP)

E LIGIBILITY Cannot have a federal or state drug conviction while receiving FSA funds. Must be a U.S. citizen or eligible non-citizen Cannot over an overpayment on any prior FSA funds received Males over 18 must register with the Selective Service For grants, cannot have a bachelor’s degree

S ATISFACTORY A CADEMIC P ROGRESS (SAP) Qualitative component Must have a minimum GPA Quantitative component Must be completing at a certain rate Must be at least as strict as the academic policy Each school will have its own policy Students who lose eligibility may appeal the decision if this is part of the school’s policy

P ELL L IFETIME E LIGIBILITY U SED (LEU) The Pell LEU is 600%. 600% is the equivalent of about six years.

C ONSUMER I NFORMATION General disclosures Financial assistance available to students Information about the school’s academic programs, costs, facilities, and policies School costs Withdrawal procedures, refunds, and return of aid Accreditation and licensure Disability services Transfer of credit policies Contact information Penalties and institutional policies on copyright infringement

C ONSUMER I NFORMATION (C ONT.) Completion, graduation, and transfer-out rates Retention rates Gainful Employment disclosures Occupational outcomes with SOC codes and links to occupational profiles on the O*NET website Program length On-time graduation rate Tuition and fees for normal time, costs of books and supplies Job placement rate Median debt

C ONSUMER I NFORMATION (C ONT.) Campus crime and safety information must be distributed to its students and employees each year. Textbook information (ISBN and retail price; or publisher and copyright date and title and author) on the online schedule. If this is not practicable, the school may put “To Be Determined”. Drug and Alcohol Abuse Prevention Program

C OMMUNICATION Talk to the financial aid department. The institution must have checks and balances in place so that not all the Title IV (Pell) administration is handled in the FA Office. A program review will look at the policies and procedures of the institution, not just the FA Office. Everyone has a responsibility to ensure the success of the Title IV programs.

Q UESTIONS ?