New Student Orientation - Southern Crescent Technical College

Report
OFFICE OF
FINANCIAL AID
FINANCIAL AID WORKSHOP
FINANCIAL AID WORKSHOP
Students receiving financial aid are responsible for
understanding and adhering to all policies and
procedures as outlined by the State of Georgia, the
Federal Governments and Southern Crescent Technical
College. (Please refer to our Student Handbook, SCTC
Website or contact the Office of Financial Aid).
FINANCIAL AID WORKSHOP
TYPES OF AID
Types of Financial Aid
• Scholarships
• HOPE Scholarship
• HOPE Grant
• Pell
• Federal Work Study
• More information at www.sctech.edu
FINANCIAL AID WORKSHOP
SCHOLARSHIPS
The Southern Crescent Technical College Foundation, Inc. offers
scholarship opportunities to students.
Click the link to access available scholarships:
http://www.sctech.edu/student/grants.php.
Kristen Miller
Director, Institutional Advancement
Southern Crescent Technical College
770.229.3417
FINANCIAL AID WORKSHOP
HOPE ELIGIBILITY
•
•
•
•
•
•
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Be enrolled as a degree-seeking (scholarship) or diploma or
certificate (grant) student at an eligible public or private college
or university or technical college in Georgia.
Meet HOPE's Georgia residency requirements.
Meet HOPE's U.S. citizenship or eligible non-citizen
requirements.
Be in compliance with Selective Service registration
requirements.
Be in compliance with the Georgia Drug-Free Postsecondary
Education Act of 1990. A student may be ineligible for HOPE
payment if he or she has been convicted for committing certain
felony offenses involving marijuana, controlled substances, or
dangerous drugs.
Not be in default or owe a refund on a student financial aid
program.
Maintain satisfactory academic progress as defined by college
FINANCIAL AID WORKSHOP
HOPE SCHOLARSHIP
•
HOPE will pay $62.57 per credit hour
•
Students with a Bachelor’s Degree or higher do not qualify for HOPE
Scholarship
•
GPA requirement of 3.0 at 30 and 60 semester hour checkpoint.
•
Dual enrollment hours will not count in checkpoint calculation
•
Learning support courses will count in checkpoint calculation
•
HOPE Scholarship will not pay for learning support courses
FINANCIAL AID WORKSHOP
HOPE SCHOLARSHIP
•
Scholarship is capped at 127 semester hours
•
Student must meet Georgia residency requirements for 24
consecutive months
•
Students may regain eligibility ONLY ONCE after losing the
Scholarship
•
Beginning July 1, 2011, first time recipients must use the HOPE
scholarship within 7 years of graduating high school or completing
their GED
•
Students must submit official transcripts from ALL colleges attended
AND a HOPE scholarship evaluation form to be considered
FINANCIAL AID WORKSHOP
HOPE GRANTS
Georgia's HOPE Grant (a separate program from the HOPE Scholarship) is
available to residents of Georgia who are attending eligible colleges or
universities in Georgia to earn a certificate or diploma regardless of high
school graduation date or grade point average.
• Grant is capped at 63 semester hours; or a combination of HOPE
Scholarship, HOPE Grant, Zell Miller, and Accel program funds totaling
127 semester hours
• Student must meet Georgia residency requirements for 24 consecutive
months
• Students may regain eligibility ONLY ONCE after losing the Scholarship
FINANCIAL AID WORKSHOP
HOPE GRANT
• HOPE will pay $62.57 per credit hour
• Students with a Bachelor’s Degree or higher do not qualify for HOPE
Grant
• GPA requirement of 2.0 at 30 and 60 semester hour checkpoint.
• Only hours paid by HOPE will count toward checkpoint GPA and
hours.
• Dual enrollment and learning support courses will NOT in
checkpoint calculation
• HOPE Grant will pay for learning support courses
FINANCIAL AID WORKSHOP
HOPE SCHOLARSHIP/GRANT
Award Amounts Example
Student registers for 12 credit hours in a diploma program. School
charges student $1,020 in tuition ($85 per credit hour) and $206 in
fees.
Total $1,276.
HOPE pays $62.57 * 12 Credit Hours = $750.84 (HOPE pays)
Student owes $526.16
FINANCIAL AID WORKSHOP
PELL GRANT
Federal Pell Grants are awarded to students on the basis of financial need.
A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally,
Pell Grants are only awarded to undergraduate students who have not yet
earned a bachelor's or graduate degree.
How do I qualify?
The U.S. Department of Education uses a standard formula to evaluate the
financial information you provide when you apply. You apply with the Free
Application for Federal Student Aid (FAFSA). The formula produces an
Expected Family Contribution (EFC) number that is based on your family's
financial situation -- your Student Aid Report (SAR) contains this number.
This number will determine if you're eligible for a Pell Grant and how
much you can receive.
ALL SCTC Students Should Complete A FAFSA
FINANCIAL AID WORKSHOP
PELL GRANT
All students enrolling for fall 2013 MUST complete a 2013-2014 FAFSA
application at www.fafsa.ed.gov to be reviewed for financial aid
eligibility (Pell, HOPE, Loans, FWS, etc.)
If you are enrolling in the fall 2013 semester, you will need to complete
the 2013-2014 FAFSA.
****Important****
We STRONGLY recommended students to use the IRS Data
Retrieval Tool when completing the FAFSA online. This
automatically imports your IRS Tax data from 2011 into your
FAFSA.
******We will no longer accept copies of your Tax Return******
If you are selected for verification, you will have to get a copy of
your Tax Transcript DIRECTLY from the IRS, which can take up to
4-6 weeks. This will delay the processing of your financial aid.
FINANCIAL AID WORKSHOP
PELL GRANT
****Effective July 1, 2012****
A student can receive up to a maximum of 600% Lifetime
Eligibility Used (LEU) for Pell Grant. (6 years/12 semesters)
Does this affect you?
• If you have attended college for 4 years or longer, receiving
the Pell Grant each year, you are likely to exhausted or have
already exhausted your lifetime limit for 12 semesters of Pell
Grant eligibility during the 2013-2014 aid year.
• If you have attended college and received the Pell Grant for 3
years or less you will likely not surpass the lifetime limit
during the2013-2014 school year.
FINANCIAL AID WORKSHOP
PELL GRANT
Can I see my Lifetime Eligibility Used (LEU)?
• You may view your percentage of Pell Grant used by logging
into www.nslds.ed.gov. Your LEU percentage will be
displayed under the ‘Grants” section.
FINANCIAL AID WORKSHOP
PELL GRANT
How is the percentage used calculated?
• The percentage is based on the annual award at the fulltime
enrollment status. For students with an annual award for
2011-2012 academic year, attending 12 or more credit hours in
each semester (Fall and Spring), the percentage used for the
2011-2012 academic year is 100%. If you only attended 9 credit
hours for two semesters, your percentage used for the
academic year would be 75%.
Will I run out of Pell during the 2013-2014 aid year?
• If you enroll full time for both fall and spring (12 credit hours
or more), you will use all of your Pell award for the year.
• We encourage students to put money aside from their
refunds too cover summer tuition, if they plan too attend.
FINANCIAL AID WORKSHOP
PELL GRANT
FINANCIAL AID WORKSHOP
FEDERAL WORK-STUDY
The Federal Work-Study (FWS) program gives part-time jobs to undergraduate
and graduate students with financial need. Under the program, these students
can work to make money to pay for their education expenses, including tuition,
books, and room and board.
•
Students work on campus, as well as work that is related to your classes
•
You'll be making at least the current federal minimum wage. The current pay
is $8.00 per hour.
•
The total amount of your Federal Work-Study award will depend on when you
apply, your level of financial need and the funding level of your school.
•
Students cannot work more than 15 hours a week. Students can work until
their awards run out.
•
Students get paid once a month.
•
When scheduling your work, your employer or financial aid administrator will
look at your class schedule and your academic progress.
•
Apply online on the Employment page on www.sctech.edu
FINANCIAL AID WORKSHOP
WITHDRAWALS
If you withdraw from one or more courses after the ADD/DROP period,
you will receive a grade of W and you may also receive a recalculation on
financial aid funds received for that term. Since a calculation is made
based on the percentage of the semester you have completed, the
Financial Aid Office cannot give you a specific amount upon your
inquiry. You may owe a portion of any financial aid received. Withdrawn
courses (including Hardship withdrawals) count toward total hours
attempted and when determining satisfactory academic progress.
Financial Aid does NOT pay for “repeat courses” if the student receives a
passing grade of D (if considered passing for a course) or better.
FINANCIAL AID WORKSHOP
SATISFACTORY ACADEMIC
PROGRESS (SAP)
Students must maintain a cumulative Grade Point Average
(GPA) of 2.0. The GPA is cumulative (includes entire academic
history). Students must have a minimum GPA of 2.0 when
transferring programs in order to receive financial aid.
GRADE
QUALITY
POINTS (QP)
HOURS
TOTAL
QP
A
4 X
3 semester hours
12
B
3
X
3 semester hours
9
C
2 X
5 semester hours
10
31 quality points/9 hours = 3.44 GPA
FINANCIAL AID WORKSHOP
SATISFACTORY ACADEMIC
PROGRESS (SAP)
Students must maintain a completion rate of at least 67% in
ALL hours attempted in order to receive financial aid.
Attempted hours include F’s, I’s IP’s and or W’s.
Attempted
Withdraw
Passed
Completion
Rate
12
6
6
50%
3
3
0
0%
9
0
9
100%
Passed hours
Attempted
hours
Completion rate
22.66
22.66
100%
19.99
32.98
61%
FINANCIAL AID WORKSHOP
SATISFACTORY ACADEMIC
PROGRESS (SAP)
Students cannot exceed maximum timeframe. A student may
receive financial aid for 150% of the number of semester hours
required to earn a degree, diploma or certificate.
For example, if a student is enrolled in a diploma program that
takes 100 semester hours to complete, that student may receive
financial aid (if eligible) for 150 semester hours before financial
aid is revoked.
FINANCIAL AID WORKSHOP
SATISFACTORY ACADEMIC
PROGRESS (SAP)
What happens if a student fails to meet one or all of the SAP
components?
Students falling below the SAP guidelines for the first time will
be put on Financial Aid Warning. Financial Aid Warning is a
warning period only and the student is still eligible for aid. The
student will then have one(1) semester to meet SAP standards
before being placed on Financial Aid Suspension.
Students who are on Financial Aid Suspension are NOT eligible
for Financial Aid. Student have the right to appeal their first
suspension.
FINANCIAL AID WORKSHOP
SATISFACTORY ACADEMIC
PROGRESS PLAN
If the appeal is approved, financial aid is reinstated changing their SAP
status to Probation. Students are then placed on a Satisfactory Academic
Progress Plan. During the semester that student is on probation, they
must maintain a 2.0 GPA, cannot withdrawal from any classes and can
only register for courses that are required for their certificate, diploma or
degree.
The SAP Plan must be signed and returned to the Office of Financial Aid
or a hold will be placed on your account until the plan is received. At the
end of the semester your progress will be reviewed to make sure you have
met the terms of the appeal. If so you will continue on Financial Aid
probation, if not you will be placed on suspension without an option to
appeal again. You will be required to pay out of pocket until you are back
in Financial Aid Good Standing.
FINANCIAL AID WORKSHOP
STUDENT LOAN PROGRAM
Effective Fall semester 2013 Southern Crescent
Technical College will no longer participate in
the Student Loan Program.
FINANCIAL AID WORKSHOP
QUESTIONS?????
Contact our office at 770-228-7368 or 706-646-6386 or by
email at [email protected]

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