Maintaining And Maximizing Financial Aid Eligibility. March 2005

Transcription

1 Maintaining And Maximizing Financial Aid Eligibility March 2005

2 Georgia Student Finance Commission GSFC State agency for administration of student financial aid since 1965; Serves as a lender and guarantor for the federal Stafford and PLUS loan programs; Offers alternative loans and consolidation loans; Administers service-cancelable loans for critical need areas such as teaching and health careers; Administers ten scholarship and grant programs; Provides a wide range of student financial aid services to Georgia citizens, high schools, colleges, universities, and commercial lenders.

3 Maintaining And Maximizing Financial Aid Eligibility Overview: ACCEL Program Basic Eligibility Requirements for Federal\State Student Aid Programs Program Specific Requirements: HOPE Scholarship Program HOPE Scholarship: Grade Point Average Evaluation Overview: Maintaining and Maximizing Eligibility for Federal\State Need-Based Programs Overview: Maintaining and Maximizing Eligibility for Non-need Based Programs

4 Federal\State Eligibility Requirements Be a US Citizen or; Be a Permanent Resident Alien- PRA\Eligible Non-Citizen. Resident of Georgia Meet Selective Service registration requirements.

5 Federal\State Eligibility Requirements (continued) Matriculated in a program leading to an associate or a baccalaureate degree. Not in default or owe a refund on Federal or State of Georgia educational program. Maintain Satisfactory Academic Progress (SAP) in accordance with Title IV standards and the college s s SAP Policy.

6 HOPE SCHOLARSHIP - ELIGIBILITY REQUIREMENTS (continued) Student s s SAP is evaluated annually: -Qualitative and Quantitative factors -Appeal Process -Extenuating\mitigating circumstances -Loss of Federal\State student aid eligibility Be in compliance with the Federal\State Anti-Drug Statues: Convicted felon is ineligible from the date of conviction to the completion of the next academic term

7 Program Specific Requirements: HOPE Scholarship FIRST TIER: The first 30 semester\45 quarter hours after high school graduation. Graduated as a HOPE Scholar from an eligible high school: - core curriculum 3.0 GPA or 80 numeric average meeting the college prep curriculum (16 units); or - core curriculum 3.2 GPA or 85 numeric average meeting the career/technical curriculum (13 units). - Graduates of non-eligible high schools: Retroactively eligible after attempting 30 semester\45 quarter hours with a 3.0 cumulative GPA.

8 HOPE SCHOLARSHIP ELIGIBILITY REQUIREMENTS (continued) FIRST TIER (continued): Meet USG/DTAE Georgia residency requirements at time of high school graduation and at time of enrollment (1st day of classes) for the term in which the scholarship is sought. Graduation from a Georgia high school is not required. Students may graduate from an eligible high school outside of Georgia, if they meet the HOPE residency requirement. Example: Parent is in the military and Home State of Record is Georgia, but stationed outside of Georgia.

9 HOPE SCHOLARSHIP ELIGIBILITY REQUIREMENTS (continued) FIRST TIER (continued): Exception for students who receive an institutional out-of-state tuition waiver and graduate from a Georgia high school as a HOPE Scholar. Example: Student s s military parent is stationed at Ft. Benning, GA. The military parent s s Home State of Record is Texas. The student is eligible if he/she graduated from a Georgia high school as a HOPE Scholar and receives an out-of-state tuition waiver.

10 HOPE SCHOLARSHIP ELIGIBILITY REQUIREMENTS SECOND TIER: (continued) Attempted 30 semester/45 quarter hours, but no more than 60 semester/90 quarter hours. Must have a 3.0 grade point average after attempting 30 semester/45 quarter hours (Attempted-Hours Checkpoint). Meet USG/DTAE Georgia residency requirements at time of enrollment (first day of classes) for the term for which the scholarship is sought.

11 HOPE SCHOLARSHIP ELIGIBILITY REQUIREMENTS THIRD TIER: (continued) Attempted 60 semester/90 quarter hours, but no more than 90 semester/135 quarter hours. Must have a 3.0 grade point average after attempting 60 semester/90 quarter hours (Attempted-Hours Checkpoint). Meet USG/DTAE Georgia residency requirements at time of enrollment (first day of classes) for the term for which the scholarship is sought.

12 HOPE SCHOLARSHIP ELIGIBILITY REQUIREMENTS FOURTH TIER: (continued) Attempted 90 semester/135 quarter hours, but no more than 127 semester/190 quarter hours. Must have a 3.0 grade point average after attempting 90 semester/135 quarter hours (Attempted-Hours Checkpoint). Meet USG/DTAE Georgia residency requirements at time of enrollment (first day of classes) for the term for which the scholarship is sought.

13 HOPE SCHOLARSHIP HOPE GPA EVALUATION Recipients must have a HOPE Grade Point Average (GPA) of 3.0 at each checkpoint to continue eligibility: -Three Term Checkpoint; -End-of-Spring Checkpoints; -Attempted-Hours Checkpoints.

14 HOPE SCHOLARSHIP: END-OF-SPRING CHECKPOINT Must have a cumulative 3.0 GPA at the end of each Spring semester/quarter. - First Tier recipients must be full-time (12 hrs.) for at least 1 of their first 3 terms. - Second, Third, and Fourth Tier recipients must be reviewed at the end of each Spring term, whether full-time or part-time. Can lose but cannot gain or regain eligibility

15 HOPE SCHOLARSHIP: THREE-TERM CHECKPOINT Only applies to First Tier students. Must have attempted less than 12 hours during each of the student s s first three terms. Can lose, but, not gain or regain eligibility.

16 HOPE SCHOLARSHIP: ATTEMPTED-HOURS CHECKPOINTS (continued) End of First Tier: 30 Attempted Hours End of Second Tier: 60 Attempted Hours End of Third Tier: 90 Attempted Hours Can gain, lose, or regain eligibility.

17 HOPE SCHOLARSHIP HOPE GPA EVALUATION (continued) The HOPE GPA is a unique calculation used solely for the purpose of determining HOPE Scholarship eligibility at the college level. The HOPE GPA may differ from other GPA calculations. The office which is normally responsible for the institutional grade point average evaluation should perform the HOPE GPA evaluation.

18 HOPE SCHOLARSHIP HOPE GPA EVALUATION (continued) All college-degree hours attempted after high school graduation must be included to determine the checkpoints. All earned college-degree hours, with their corresponding grades (A,B,C,D,F), must be included to determine HOPE GPA at each checkpoint. All college-degree hours attempted prior to high school graduation (including hours paid by Accel) are not included to determine checkpoints or HOPE GPA.

19 HOPE SCHOLARSHIP HOPE GPA EVALUATION (continued) College-degree hours attempted at all postsecondary institutions attended by the student after high school graduation, and their corresponding grades, must be included, regardless of whether the current institution accepted the hours.

20 HOPE SCHOLARSHIP HOPE GPA EVALUATION (continued) Hours attempted in a technical diploma/certificate program of study are not included, unless those hours are accepted toward a college degree.

21 HOPE SCHOLARSHIP HOPE GPA EVALUATION (continued) Hours attempted under a degree program of study or accepted toward a degree program of study, and their corresponding grades, must be included in the HOPE GPA for: Learning Support/Remedial courses; Independent Study courses; Repeated courses.

22 HOPE SCHOLARSHIP HOPE GPA EVALUATION (continued) Hours which are included as attempted- hours: Incomplete courses; In-Progress (other than current term); Withdrawal courses; Pass/Fail courses; Satisfactory/Unsatisfactory courses.

23 `HOPE SCHOLARSHIP HOPE GPA EVALUATION (continued) Hours which are not included as attempted- hours: Continuing Education courses; Audit courses; AP credits; Credits by examination (CLEP).

24 HOPE SCHOLARSHIP COMBINED PAID-HOURS LIMIT Combined Paid-Hours Limit is 127 semester or 190 quarter hours: Accel Paid-Hours HOPE Grant Paid-Hours Diploma/certificate programs Beginning with Summer 2003 term Does not include HOPE Grant Paid-Hours prior to high school graduation and before Fall 2004 term HOPE Scholarship Paid-Hours Degree programs Beginning with 1993

25 HOPE SCHOLARSHIP COMBINED PAID-HOURS LIMIT (continued) Extended Fourth Tier programs of study, currently,, allow up to 150 semester/225 quarter hours for the Combined Paid-Hours Limit. Students with a baccalaureate degree are not eligible for the HOPE Scholarship.

26 HOPE SCHOLARSHIP AWARD Tuition awards equal actual tuition charged (no minimum hours); tuition will not covered if paid by some other source- e.g., ROTC Scholarship. HOPE-Approved Mandatory Fees awards same as (FY 04) award year;

27 HOPE SCHOLARSHIP AWARD- HOPE Book Allowance: - Less than half-time (1-5 hours); $50 per quarter/$75 per semester. - More than half-time (6 plus hours); $100 per quarter/$150 per semester.

28 HOPE SCHOLARSHIP AWARD (continued) Financial aid resources other than HOPE. If applied to tuition and mandatory fees, HOPE Scholarship must be canceled or reduced. Other eligible statuses: Transient; Distance Learning; Study Abroad; Alternative Study.

29 Overview: Maintaining and Maximizing Student Federal\State Financial Aid Eligibility Eligibility must be demonstrated each academic year in order to receive assistance: Federally funded Title IV. Need-Based programs-i.e., Pell, Supplemental Education Opportunity Grant- SEOG,College Work Study-CWSP, LEAP Grant, Perkins Loan, and Stafford Loan. State funded Non-need Based programs-e.g., Governor s s Scholarship, Service-Cancelable Loans, etc. and Georgia Lottery for Education funded programs-e.g., HOPE Grant\Scholarship, Promise Scholarship.

30 The Determination of Eligibility for Need-Based Programs Two major factors are considered: Cost of Education: : Includes tuition\fees, books\supplies, room\board, transportation and personal expenses. Expected Family Contribution-EFC: The outcome of the analysis of income, assets, household size, and other data indicated on the- Free Application for Federal Student Aid-FAFSA. COST OF EDUCATION-EFC=NEED

31 Maximizing Eligibility for Need- Based Programs *Submit FAFSA as soon as possible after January 1 st. *Submit the college s s financial aid application by the deadline. *Promptly submit any follow-up documentation e.g., tax forms in a timely manner. *Inform FAO of special\unusual circumstances family circumstances-e.g., loss of employment, separation\ divorce, disability, etc.

32 FAFSA: Factors Which Impact Level of Need *Income (i.e., Taxable and Non-taxable) -Dependent students: Parent and student income -Independent students: Student and\or spouse income *Assets (i.e., Net) -Dependent students: Parent and student assets -Independent students: Student and\or spouse s assets *Household Size *Number in College

33 MAXIMIZING ELIGIBILITY FOR NON-NEED BASED PROGRAMS State\Lottery Funded Programs: * Review eligibility criteria for each State\Lottery non-need based program e.g., Service-cancelable allied health, education loans, etc. Private Aid Sources: *Conduct search for various types of scholarships-e.g., academic, affiliation, etc. Key web-sites for scholarship information:

34 GEORGIA STUDENT FINANCE COMMISSION LOANS SCHOLARSHIPS -GRANTS Calvin King (800) , Ext. 9070