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Published byGregory Howard Modified over 8 years ago
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Federal Financial Aid is financial assistance provided to students who fill out the FAFSA application and meet the requirements. Financial aid can include: ◦ Pell Grant ◦ Oregon Opportunity Grant ◦ Federal Supplemental Education Opportunity Grant ◦ Federal Work-Study ◦ William D. Ford Direct Stafford Loans ◦ Parent PLUS Loan ◦ Oregon Promise
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Pell Grant ◦ Determined by Expected Family Contribution, which demonstrates financial need which is calculated by FAFSA ◦ Not paid back Oregon Opportunity Grant ◦ Determined by the Oregon Student Access Commission ◦ Must meet OSAC deadline ◦ Must have financial need ◦ Must be Oregon residents ◦ Enrollment in 6 or more credits ◦ Not paid back
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Federal Supplemental Educational Opportunity Grant ◦ Must have Pell eligibility ◦ Limited funding (first come first serve) ◦ Enrollment in 6 or more credits ◦ Not paid back Federal Work-Study ◦ Must be requested on FAFSA application ◦ Must have financial need ◦ Limited funding (first come first serve) ◦ Enrollment in 6 or more credits ◦ Not paid back
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William D. Ford Direct Stafford Loans ◦ Subsidized and Unsubsidized ◦ Must be paid back ◦ Interest of 3.86% ◦ Enrollment requirement of 6 or more credits ◦ No payments required while students meet enrollment requirements Parent PLUS Loans ◦ Loan is in parents name ◦ Must be paid back ◦ Interest of 6.4% ◦ Enrollment requirement of 6 or more credits ◦ Requires parent to pass credit check
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Determined by FAFSA ◦ Household size ◦ Income ◦ Federal Benefits (SNAP) ◦ Child support ◦ Citizenship or eligible non-citizen status ◦ Major ◦ Previous aid used ◦ Previous academic history ◦ Defaulted student loans ◦ Previous drug convictions while receiving aid
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After the FAFSA is submitted it validated against a series of databases, including the IRS, Homeland Security & HHS Submitted to schools in large batches, sometimes several thousand at a time Applications go through an overnight process to check for errors. Those files that end up in the error report have to be manually resolved.
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Priority Deadlines ◦ It takes several weeks for students to go through the financial aid process ◦ Students who want to guarantee their aid for an upcoming term should review and make sure they meet the priority deadlines, listed on the website Term you plan to start 2013-14 FAFSA submitted by Satisfy requirements by Summer 2016February 15, 2016April 15, 2016 Fall 2016April 15, 2016July 1, 2016 Winter 2017July 15, 2017September 1, 2017 Spring 2017October 15, 2017January 1, 2017
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Located on my.pcc.edu Contains information on students financial aid including: ◦ If we have received the application ◦ If the student needs to turn in documents ◦ If the student has an award ◦ If the student can charge books ◦ What the financial aid status of the student is
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Needs to be on the correct academic year year. This will default to the current year. Shows a students application status Shows the date we are receiving completed FAFSA’s from
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For certain problems on FAFSA, Students must go to www.fafsa.gov to make corrections www.fafsa.gov This only happens when a student doesn’t have a valid FAFSA application. When a student logs into FAFSA, they can view their student aid report that tells them what needs to be corrected
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Requirements that still need to be completed show up as red flags under the clipboard icon
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Satisfied requirements show on a students dashboard as green checks
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Bookstore charging can also been seen on the requirements tab, which is under the clipboard icon
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Students can read about types of aid and managing their financial aid Students can click here to accept or decline their terms and conditions and their award offer
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www.pcc.edu/fa www.pcc.edu/fa Step 3 Need more help
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Students can view or print their award letter even after they have accepted it Students can check disbursements dates here
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SAP status is under the notifications. Students can see these on the stoplight channel of the dashboard. Bookstore charging can be seen under the stoplight channel of the dashboard
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SAP status is under the notifications. Students can see these on the stoplight channel of the dashboard. Bookstore charging can be seen under the stoplight channel of the dashboard
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Resources for students that help them find their loan debt, what their payments would be, how to find scholarships and help them manage finances
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DNP indicators show under the paying for college tab, not directly on the dashboard
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Students must make acceptable payment arrangements ◦ Third Party funding ◦ Payment plan Financial aid can still come in during the term Students who are not awarded have to pay out of pocket for books as well as tuition and fees Students may choose to wait until the following term
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Satisfactory Academic Progress ◦ Good ◦ Warning ◦ Suspension ◦ Probation ◦ Probation with an academic plan What Financial aid looks at ◦ Cumulative GPA must be 2.0 or higher ◦ Students must complete 2/3rds of attempted credits These are Federal requirements
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Time Frame Extension ◦ Students must complete with 150% of the number of credits required for their degree These are Federal requirements ◦ Students within 36 credits (a standard academic year) must submit a Time Frame Extension ◦ Students must create an academic planner for required coursework
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Return of Title IV funds ◦ When a student withdraws or doesn’t pass any coursework for a term Determined by the percentage of a term that the student completes Can result in the student owing part, or all of their financial aid back These are Federal regulations
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Repeat coursework ◦ Financial aid can only pay for a student to take a course two times. If a student takes a course and either withdraws or receives an “F” the student can retake the course until they receive a “D” or higher. Students may take a course more than twice, but the course can not be counted in the number of credits that determines the students level of eligibility These are Federal regulations
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Loans ◦ Reduce the amount offered on the Award Letter ◦ Direct Loan Revision Request Form ◦ Return the money to Student Accounts Grants ◦ Please see the Financial Aid Office
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Have you checked the disbursement schedule? Has your enrollment level changed? Full Time¾ Time½ time¼ Time 12+ credits9-11 credits6-8 credits5 or less credits
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See how much aid you have used See what your payments will be Create a financial plan Find other money
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There are 6 types of VA education benefits There are different rules for each type of VA education benefit The first time a student is using benefits it is highly recommended they speak to a Veterans Specialist Once enrolled, students can access individual information on the Veterans Dashboard (my.pcc.edu)
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The Veterans Education Benefits Webpage can help students understand how to apply for and use their veterans benefits and locate the office that can help at each major campus. http://www.pcc.edu/vets
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Complete the online application through the VA 6 weeks prior to attending. Be admitted to PCC The first 3 steps only need to be completed the first time a student is starting GI Bill at PCC.
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Students should bring the certificate of eligibility that they received by applying for benefits whenever possible. After meeting with a veterans specialist, students can register
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Located just to the right of the dashboard Students need to submit their schedule online to be certified Students need to submit their schedule for certification every term as soon as they are registered.
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Notification on the dashboard changes in real-time to reflect the student’s status
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Students will be able to see if their GI Bill is protecting their registration (this depends on the type of GI Bill the student is using)
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In addition to the school’s Standards of Academic Progress, dropping or withdrawing from classes can cause students to owe money back to the VA. It is important that any student considering dropping or withdrawing from a class speak to a Veterans Specialist before changing their schedule.
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Once a student is certified to the VA, the school has no way of knowing exactly when the VA will send out that payment. PCC notifies students what date their certification was processed and refers further questions about status to contact the VA.
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