Transcript York Technical College

York Technical
College
Financial Resources Office
What is Financial Resources?
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Grants
Employment
Scholarships
VA Benefits
Tuition Assistance
Student Loans
General Requirements for All
Students
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You must demonstrate financial need
Be enrolled in an eligible program of study
Have a high school diploma or GED or meet the
Ability to Benefit test criteria
Be a U.S. Citizen or an eligible non-citizen
Be registered with the Selective Service (if male)
Not be in default on a Title IV Loan
Not owe a repayment to a Title IV program
Maintain satisfactory academic progress
Provide a valid social security number
Application For
Financial Aid
F - Free
A - Application
F - for Federal
S - Student
A - Aid
How Do I Apply?
Electronically
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FAFSA on the Web (www.fafsa.gov)
Priority Deadlines
Fall Semester
June 1
Spring Semester
November 1
Summer Session
March 1
Expected Family Contribution
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The FAFSA data will be used to determine your
expected family contribution (EFC). The EFC
is the amount that a student’s family is expected
to contribute toward the student’s cost of
attendance.
The Financial Resources Counselor subtracts the
EFC from the school’s costs to determine your
financial need.
EDUCATIONAL COSTS
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The cost of attendance is the total amount it will
cost you to go to college. Each college is
responsible for determining the annual average
cost of attendance for students using a standard
definition established by the U.S. Congress.
This figure is used to calculate your financial aid
eligibility. Cost of attendance includes tuition,
fees, books, supplies, room & board,
transportation and miscellaneous expenses.
Example of a 9-month Student
Budget
The Financial Resources Office utilizes budgets to give
students a projection of the cost of attending York
Technical College and in determining a student’s yearly
financial aid package.
The following example is for a full-time, in–county,
independent student living away from home for one
academic year:
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Tuition and Fees
Books and Supplies
Transportation
Personal/Miscellaneous
Room and Board
Total
$3352
$1200
$2500
$2250
$7200
$16,502
Definition of Need
Cost of Attendance (COA)
- Expected Family Contribution (EFC)
Financial Need
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The Central Processing System (CPS) notifies
the student of the FAFSA’s processing results:
Paper Student Aid Report (SAR) if the
student’s e-mail address was not provided
E-mail notification sent containing a direct link
to student’s Student Aid Report (SAR) online
if student’s e-mail address provided
Missing Information Letters
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Missing information letters are sent to students
if additional information is required.
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Most common request is for verification of
FAFSA information.
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Students receive a letter in the mail after the
receipt of the FAFSA results and an email
reminder 30 days later.
Verification Process
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Each year, the U.S. Department of Education selects a
group of FAFSA’s for verification, a process used to
make sure that the information students report is
accurate. Verification prevents ineligible students from
receiving aid by reporting false information, and
ensures that eligible students receive all of the aid for
which they are qualified for. Some applications are
selected because of inconsistent information; others are
chosen at random. Colleges can also choose
applications to be verified. Students whose applications
are selected must give their Financial Resources Office
certain documentation to show the information on the
FAFSA is correct.
Corrections to your FAFSA
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If a correction to an applicant’s data is needed,
the correction may be made by either of the
following:
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On the paper Student Aid Report (SAR)
On the Web if the student has a PIN number
By the school (This method is preferred if
information has already been transmitted to the
school)
Financial Aid Information
Missing information and award letters are mailed to
students and this information can also be viewed on
WebAdvisor.
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Log in to the York Tech website: www.yorktech.com
Click on WebAdvisor
Log in
Click on “Students”
See options for Financial Aid on the screen
Financial Resources Assistance
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Federal and state financial aid is a resource to assist
families with the cost of attendance.
There are three categories of federal student aid:
Grants, Work-Study and Loans.
South Carolina State assistance is available in the
following programs: South Carolina Need-Based
Grant, South Carolina Legislative Incentive for Future
Excellence Scholarship (LIFE) and South Carolina
Lottery Tuition Assistance.
York Technical College Foundation Scholarships are
also available.
Financial Resources
Federal
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Federal Pell Grant
Federal Academic Competitiveness Grant
(ACG)
Federal Supplemental Educational Opportunity
Grant (FSEOG)
Federal Work-Study (FWS)
Federal Stafford Loans
Federal Pell Grant
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Must complete the
FAFSA
Actual award amount
based on Expected
Family Contribution
(EFC) and enrollment
status
Money that does not
have to be repaid
Annual amounts range
from $1,176 to $5,550
Federal Academic Competitiveness
Grant (ACG)
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Must be at least a part-time undergraduate
student enrolled in an eligible certificate,
diploma or associate degree program
Must be eligible for Pell Grant
Must be a U.S. citizen or eligible non-citizen
Federal Academic Competitiveness
Grant (ACG)
First academic year undergraduate students must:
 Be enrolled in an eligible program.
 Have completed a rigorous secondary school program
of study.
 Not have been previously enrolled as a regular student
in an undergraduate program.
 Have graduated from high school after Jan. 1, 2005.
 The award is up to $750 for first academic year
undergraduate students.
Federal Academic Competitiveness
Grant (ACG)
Second academic year undergraduate students must:
 Be enrolled in an eligible program.
 Have completed a rigorous secondary school program
of study.
 Have graduated from high school after Jan. 1, 2006
 Have at least a 3.0 GPA for the first academic year for
their eligible program.
 The award is up to $1300 for second academic year
undergraduate students.
Federal Supplemental Educational
Opportunity Grant (FSEOG)
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Must complete the FAFSA
Must be eligible for Federal Pell Grant
Money that does not have to be repaid
Based on hours of enrollment
Funds depend on availability at school
Federal Work-Study (FWS)
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Provides part-time employment while enrolled
in school.
Helps pay for educational expenses.
Available to undergraduate or graduate students
who are enrolled full-time or part-time.
Priority to students who show exceptional need
Students work no more than 20 hours per week.
FWS jobs are limited to availability of positions
and funds.
America Reads
In 1997, former President Clinton launched the
America Reads Challenge to ensure that children
learn to read on their grade level by the third
grade. This work-study program provides
students with employment to help meet their
financial needs. The students gain work
experience as reading tutors involved in service
activities that play key roles in working with
individual children and supporting classroom
activities.
Federal Stafford Loan
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Low interest student loans
Available to students enrolled in at least 6 credit
hours
Must have at least a 2.0 cumulative GPA
Must attend a mandatory entrance loan
interview if first-time student borrower and
complete online entrance loan counseling
State Programs
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South Carolina Need-Based Grant (SCNBG)
LIFE Scholarship
Lottery Tuition Assistance Program
South Carolina Need-Based Grant
(SCNBG)
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Must complete the FAFSA
Be a legal resident of South Carolina
Be a U.S. Citizen or eligible non-citizen
Demonstrate financial need
Must have a minimum 2.0 GPA
Be enrolled at least half-time
Cannot have a two or four year degree
Complete an affidavit verifying that they meet certain criteria
established by the state.
A student is eligible to receive the grant up to four full-time
semesters.
South Carolina Need-Based Grant
(SCNBG)
To continue eligibility for SCNBG, the student
must:
 Maintain satisfactory academic progress
 Complete at least 24 hours for a full-time
student and minimum of 12 hours for a parttime student for fall/spring of the previous
academic year
 Maintain a cumulative GPA of 2.0
LIFE Scholarship
Initial Eligibility
 Must graduate from a South Carolina high
school with a minimum 3.0 GPA on the
Uniform Grading Scale
 Must have an official high school transcript on
file
 Must be enrolling in college for the first time
 Must enroll in a minimum of 12 non-remedial
credit hours
LIFE Scholarship
Continued Eligibility:
 Student must earn at least 30 non-remedial
credit hours and minimum 3.0 GPA in the prior
academic year
 Students enrolling mid-year need a minimum of
15 non-remedial credit hours and a minimum
3.0 GPA
LIFE Scholarship
General Information
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Students are eligible for a maximum of 4 semesters of
LIFE Scholarship at a two-year institution depending
on the academic program in which they are enrolled.
Students who receive LIFE Scholarship are not eligible
to receive Lottery Tuition Assistance.
LIFE Scholarship is not awarded in the summer
session.
LIFE Scholarship covers the cost of tuition and
provides a $300 per year book allowance.
Lottery Tuition Assistance
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Must complete a FAFSA
Must be a South Carolina resident
Must enroll in at least 6 credit hours
Must maintain a cumulative GPA of 2.0 once 24
credit hours have been attempted
Lottery Tuition Assistance
General Information
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Amount of award is determined by the state
legislature
Award not based on need
Lottery can only be used to pay the cost of
tuition
Understanding Student
Financial Resources at
York Technical College
Foundation Scholarships
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Provided through York Technical College
Foundation as well as industries, businesses,
professional organizations, civic clubs and
individuals.
Awarded on the following:
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Academic excellence
Achievement
Leadership qualities
Need
Other criteria specified by donor
Financial Resources Satisfactory
Academic Progress (SAP)
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Students must make
satisfactory academic
progress to be eligible for
financial aid.
Students must meet
guidelines which comply
with federal regulation.
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The financial aid policy is
separate from the general
academic policy.
Satisfactory Academic
Progress must be
maintained even during
semesters when aid is not
received.
Satisfactory Academic Progress
Three criteria that determine progress:
 Maximum length of time for which the student
may receive financial aid (150%)
 Percentage of attempted credit hours the student
must earn (70%)
 Minimum GPA the student must maintain
(GPA)
Maximum Time Frame (MTF)
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Maximum time frame for completion of
program is 150% of published hours
Assessment of hours is cumulative and includes
previous hours attempted; transfer credits,
repeat classes, incomplete grades and
withdrawals.
Previous credits included even if financial
assistance was not received.
Maximum Time Frame 150%
Scenario 1: Nikisha enrolled as a student in the
Teleproduction program. This program requires
45 credit hors for completion.
Calculation: 45 credit hours x 150% MTF = 67.5
attempted hours
Explanation: Nikisha is no longer eligible for financial
assistance for this program once attempted hours equal
67.5
150% MTF
Scenario 2:
Kara graduated from Environmental Technology. This program requires 20
credit hours of completion. Kara attempted 30 credit hours prior to
graduating from the Environmental Technology program. Kara decided to
enroll in the Teleproduction program the next term of enrollment.
Calculation: Maximum Time Frame for the Teleproduction program: 67.5
attempted hours
20 credit hours required for Environmental Tech
30 credit hours attempted
= 10 hours excess
67.5 MTF for Teleproduction
10 excess hours
= 57.5 New MTF for Teleproduction
150% MTF
Explanation:
Kara has 57.5 remaining attempted hours of
eligibility to complete the Teleproduction
program due to successful completion of the
Environmental Technology program. However,
excess hours from the 1st program will affect the
MTF remaining.
70% Completion
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Students must complete 70% of all hours
attempted each semester.
Attempted hours are cumulative and all previous
semesters are included in the calculation.
Attempted hours are all courses in which a
student is enrolled at the census date.
70% Completion
Scenario 1:
Denise attempted 12 credit hours Fall term and she
earned 6 credit hours.
Calculation:
12 credit hours attempted x 70% =8.4 attempted credit
hours.
Explanation:
Denise is not meeting 70%; She needed to earn 8.4
credit hours to meet the 70% requirement, but only
earned 6 credit hours. Financial Aid – SAP status
Probation next term of enrollment.
70% Completion
Next term:
Denise enrolled in 9 credit hours Spring term.
She was eligible to receive financial aid during a
term of Financial Aid-SAP probation. She
earned 6 credit hours for the Spring term.
Calculation:
21 cumulative credit hours attempted x 70% =
14.7 attempted credit hours needed.
70% Completion
Explanation:
Denise cumulatively not meeting 70%; Denise
needed to earn 14.7 credit hours to meet the
70% requirement, but only earned 12 cumulative
credit hours. Financial Aid – SAP status is
suspended next term of enrollment.
Grade Point Average
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Students must maintain a 2.0 grade point
average (GPA).
GPA is cumulative and includes all semesters for
which a student has been enrolled.
Grade Point Average
Terry must maintain a cumulative GPA of 2.0
Explanation:
If Terry does not meet 2.0 GPA, Financial Aid –
SAP status will be Probation next term of
enrollment. If Terry does not raise his GPA
above a 2.0 the term following probation he will
be suspended from receiving financial assistance.
Financial Aid Probation
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Students who receive financial aid but fail to
maintain Satisfactory Academic Progress will be
placed on financial aid probation.
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Exception: A probationary period cannot be
extended to students who have exceeded the
Maximum Time Frame of 150% of a program of
study or have attempted 180 credit hours.
Financial Aid Suspension
Financial Aid Suspension will result from failure to:
 Complete the minimum required number of credits
required during a probationary semester.
 Maintain a cumulative GPA of at least 2.0 during a
probationary semester.
 Graduate prior to exceeding the maximum number
of credits allowed for the student’s published
program length.
Financial Aid Suspension
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Meet the requirements of an appeal approval. A
student, who is suspended again after failing to
meet these requirements, must attend on his/her
own without financial aid and earn the required
cumulative GPA and met 70% in order to regain
eligibility.
Subsequent appeals may be considered if a
student has experienced unusual, extenuating
circumstances that can be documented.
Appeals Process
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Students must provide written documentation of
extenuating circumstances.
Submission of an appeal does not guarantee
reinstatement of financial aid.
Students whose appeals are approved are placed on
financial aid probation, will continue to receive financial
aid and must meet the conditions of the appeal.
Students whose appeals are denied will not receive
financial aid until they are once again making
satisfactory academic progress.
Changes in Enrollment
If you drop before classes begin or before the
census date, your financial aid will be adjusted
based on the hours for which you are enrolled
on the census date. Also, if you never attend a
class, your award amount will be adjusted if it
reduces your enrollment below full-time.
Example of Potential Award
Adjustment Based on Enrollment
Fulltime
12 hours
¾ Time
½ Time
Less than ½ time
9-11 hours
6-8 hours
5 or less hours
A student eligible to receive a full Pell would be awarded
accordingly:
$2,775
$2,082
$1,388
$694
Full Time Enrollment
¾ Time Enrollment
½ Time Enrollment
Less than ½ Time Enrollment
Return to Title IV
Complete withdrawal from college: As part of
Section 484B of the Higher Education Act,
Congress passed new provisions governing what
must happen to your federal financial assistance
if you completely terminate enrollment.
If a student withdraws from York Technical
College, the college or the student may be
required to return a portion of the funds.
Myths About Financial Aid
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MYTH: “You must be enrolled in 12 credit
hours per term to receive financial aid.”
FALSE. Many federal and state programs
awards are based on enrollment. Therefore you
can be enrolled in as little as 1 credit hour to
receive financial assistance.
MYTHS…..
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MYTH: “You or your parents can’t get any
financial aid because your family income is too
high.”
FALSE. Income is only one of the criteria on
which financial aid is based. If the costs exceed
your family’s means, you will qualify for some
form of financial aid (grants, work-study, or
South Carolina state assistance). Also some
scholarships are based on merit.
For more information:
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Stop by the Financial Resources Office in the
Student Services Building
Call 803-327-8005
Email [email protected]