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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:

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Presentation on theme: " Federal Financial Aid is financial assistance provided to students who fill out the FAFSA application and meet the requirements. Financial aid can include:"— Presentation transcript:

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2  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

3  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

4  Basic information: Name, Address, DOB, SSN, Citizenship status  Income information: Students can link their FAFSA with the IRS or type in their income from their 1040  Parents information: If the student is under 24 by the first day to apply for that years FAFSA  FAFSA Pin Number

5  FAFSA randomly selects some students for verification  Verification means that the Financial Aid Office has to collect documents determined by FAFSA  These documents must be reviewed  If anything is missing or does not match the documents turned in, the Financial Aid Office is required to update FAFSA before we can process an award

6  Documents that can be asked for include ◦ Household size verification ◦ Tax return transcripts or W2s if the student was not require to file taxes ◦ SNAP documentation ◦ Childcare cost documentation ◦ Child support verification ◦ Selective service documentation ◦ High school completion documentation ◦ Identity documentation ◦ Citizenship documentation ◦ Other documents as needed

7  FAFSA submits applications to schools that the students put on their application  Submitted to schools in large batches, sometimes this can be several thousand at a time  Applications go through a series of checks before they are loaded into Banner  Banner upgrades at the beginning of the year often cause delays

8  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 on the financial aid website Term you plan to start 2013-14 FAFSA submitted by Satisfy requirements by Summer 2013February 15, 2013April 15, 2013 Fall 2013April 15, 2013July 1, 2013 Winter 2014July 15, 2013September 1, 2013 Spring 2014October 15, 2014January 1, 2014

9  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

10  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

11  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

12  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

13  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

14  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

15 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

16 Requirements that still need to be completed show up as red flags under the clipboard icon

17 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

18 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

19 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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21 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

22 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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25 Requirements that still need to be completed show up as red flags under the clipboard icon

26 Satisfied requirements show on a students dashboard as green checks

27 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

28 Students can view or print their award letter even after they have accepted it Students can check disbursements dates here

29 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

30 Bookstore charging can also been seen on the requirements tab, which is under the clipboard icon

31 DNP indicators show under the paying for college tab, not directly on the dashboard

32  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

33  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

34  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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45  Loans ◦ Direct Loan Request Form ◦ Pick what term and what fund you want to reduce  Grants ◦ Please see the Financial Aid Office

46 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

47 See how much aid you have used See what your payments will be Create a financial plan Find other money

48 The Veteran Services Webpage can help students understand how to apply for and use their veterans benefits. http://www.pcc.edu/vets

49 Complete the online application 6 weeks prior to attending. Be admitted to PCC

50 Students need to bring the certificate of eligibility that they received by applying for benefits After meeting with a veterans specialist, students can register

51 Located just to the right of the dashboard Students need to submit their schedule online to be certified

52 Notification on the dashboard changes to reflect the students status


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