Welcome to the Financial Aid Online Orientation at Folsom Lake College (FLC). As you go through this presentation, you will gain a greater

Transcription

1 Welcome to the Financial Aid Online Orientation at Folsom Lake College (FLC). As you go through this presentation, you will gain a greater understanding of financial aid policies, procedures, and timelines.

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3 Apply Online at Electronic File is transferred to FLC is sent to you; additional documents may be requested File review and award process take approximately 4-6 weeks from the date you submit the last required document (all documents must be submitted) Possible delays: If we need clarification or if file is later selected for verification Award Notification sent when file has been completely processed by the Financial Aid Office

4 All official s from your college will be sent to your Los Rios Gmail account. You can access your Gmail account at: apps.losrios.edu If you have questions concerning the Gmail account please go to: apps.losrios.edu/faq.html Note: The Financial Aid Office will correspond via the address listed on your FAFSA.

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6 Note: Be prepared to show picture ID and provide copies of your documents. We do not makes copies.

7 Have the following available when you call: Your Student ID # Your Web ID # Your Web ID # is located on the upper right hand corner of your Welcome Letter/Checklist Letter Quick Links: Financial Aid

8 Students are required to have completed one of the following: High School Diploma or equivalent High School Proficiency Exam State Equivalent Test GED Completed Home School Note: Students who enrolled in college prior to July 1, 2012 may be eligible for an alternative method to meet the high school requirement. Please visit the financial aid website for more information.

9 Students are encouraged to submit Official Transcripts of all colleges attended, except other Los Rios Colleges (ARC, CRC, and SCC) to the Admissions & Records (A&R) Office to receive credit for coursework taken at another institution that are accepted towards their Educational Goal at FLC. Students will be dismissed or may have to repay if they have a prior degree or have 72+ units for any transcripts evaluated after aid has been disbursed.

10 Declare an eligible Educational Goal with the Admissions & Records Office Undecided Educational Goal is not eligible for financial aid Eligible Educational Goals A Transfer to 4-Year after AA/AS B Transfer to 4-Year w/o AA/AS C Earn AA/AS Degree w/o Transfer E Earn A Vocational Certificate

11 Financial Aid and Admissions Office Driver s License/ID Social Security Card Immigration Cards/Papers (DHS / INS)

12 Keep your mailing and address current at all times with the Admissions Office and the Financial Aid Office Any mail or address discrepancies must be corrected with Admissions Office, Financial Aid Office and Higher One separately Activate your Gmail account

13 Satisfactory Academic Progress (SAP) is: Maintaining a minimum of 2.0 Cumulative Grade Point Average (GPA) Complete 75% of units attempted Have Not completed a degree, attempted 72 or more units, or attempted more than 150% of the units required for a certificate program Note: Units from other colleges count towards the 72 unit limit Depending on your academic performance, you will fall into one of three academic standings: Good Standing: Maintaining SAP =You are eligible to receive financial aid. Dismissed: Not maintaining SAP = You are not eligible to receive financial aid Denied: Appeal denied = You are not eligible to receive financial aid Note: Dismissed students can choose to submit a SAP appeal

14 Students who are dismissed from financial aid due to unsatisfactory academic progress can choose to submit a SAP appeal once per award year Appeals with circumstances beyond the student s control must be substantiated with documentation to be considered for financial aid reinstatement If the appeal is approved, the student will once again be eligible to receive financial aid and will be placed on probation status If the appeal is denied, the student will not be eligible to receive aid until student academically restores SAP or the student can re-appeal in the following academic year if below 120 units attempted

15 Students who have completed a degree (including a foreign degree), attempted 72 or more units, or have attempted more than 150% of the units required for a certificate program will be dismissed from Financial Aid Your Appeal should address the following: Your goal at FLC Why you have not met graduation/transfer requirements What actions you have taken to make sure you will graduate in the near future Provide any documentation available to support your reasons Meet with a FLC counselor to complete an Academic Plan Students who have completed a degree must also: Explain why you are not currently using your completed degree and why you are returning to a community college Students who enter a program after already having attempted 120 units or have completed a BA program are not eligible for financial aid (BOG Fee Waiver is still available)

16 Files may be selected for verification at any time: The U.S. Department of Education selects files for verification FLC Financial Aid Office may select a file for verification if there is conflicting information Repayment is required for any over awarded or ineligible portion of financial aid received as a result of the verification process All Financial Aid documents must be authentic

17 You cannot receive financial aid from two or more schools during the same academic time period If you have listed multiple schools on your FAFSA, you will want to make sure to contact the schools you will not be attending and close your file to prevent them from claiming the funds you will need at FLC If you are paid at multiple schools you will be billed and your account will be forwarded to the US Department of Education or a State Agency for collection

18 Enroll in at least one course at FLC The classes must be required for your educational program of study at FLC The request form must be completed in full (including counselor certification) and submitted to the Financial Aid Office by the deadline listed for each term

19 Duration of Pell eligibility for all students is the equivalent of 12 full-time semesters For more information you can visit studentaid.ed.gov You can check your used and remaining Pell Grant amounts at

20 Cal Grant is a State grant that students may be eligible to receive in addition to other grants Students must complete the FAFSA and submit the GPA verification form to the California Student Aid Commission (CSAC) Note: If you have at least 16 degree applicable/transferable units, FLC will submit your GPA electronically to CSAC. There are 2 deadlines for applying for the Cal Grant March 2 nd and September 2 nd (Community colleges only) For more information about Cal Grants go to: If you are awarded Cal Grant, our office will download your information from the California Student Aid Commission We will verify your eligibility and award Cal Grant once your financial aid file is completed and when the CA Budget is approved/passed

21 Follow the steps below to be considered for the program: File your FAFSA by the Priority Deadline Answer Yes on FAFSA federal work-study question Complete your file by the FLC priority deadline Meet and maintain SAP requirements Must have financial need Be enrolled and maintain at least six units at FLC Awards are disbursed on a first come, first serve basis

22 Federal Student Loans will be considered only after the FAFSA application has been processed and all grant eligibility has been determined You must remain enrolled in 6 units at all times to receive student loans To apply for a Direct Student Loan, you must complete the three step process: Note: You will receive a loan award notification notifying you of the date of your disbursement See the FLC Website for more information: Quick Links: Financial Aid

23 California Chafee Grant Program is available for youth aging out of foster care or emancipated from foster care Chafee Grant is both federal and state funded Awards up to $5000 per academic year Administered by the California Student Aid Commission It is extremely important that you advise the commission of any school change by: Calling AND contacting the FLC Financial Aid Office Click logo for more basic requirements

24 Complete FAFSA every year Complete one time Chafee Application School will submit need analysis every year California Department of Social Services must confirm court dependent foster youth eligibility As of July 1st, New applicants must not be over 22 years old Enrolled in an eligible public or private college Enrolled in at least half time status (6 or more units) Attend class regularly and maintain satisfactory academic progress

25 The BOG Waiver permits enrollment fees to be waived for the entire academic year Summer, Fall, and Spring The BOG and FAFSA applications are available online If you need assistance with your applications, please make an appointment with a financial aid staff You can locate the Online application at:

26 BOG Fee Waiver must be completed every year during spring registration for the following academic year BOG Fee Waivers are for California residents only and eligible Dream Act/AB540 students There are three ways to qualify for the BOG Click the icon to learn more: If you have paid your enrollment fees and now qualify for a BOG, you must complete a Fee Refund Application with the Business Office before the last day of instruction for the semester in which you are requesting a refund

27 California Dream Act of 2011 became law with the passage of two Assembly Bills, AB 130 and AB131. Students who meet AB 540 criteria are eligible to apply for a BOG Fee Waiver beginning January 1, 2013 by completing a BOG Fee Waiver Application or the California Dream Act Application. Beginning January 1 of each year the California Dream Act will be available for students to apply for Cal Grants and Chafee Grants.

28 You will receive your Higher One card once you submit your FAFSA and are enrolled in classes When you receive your card in the mail, DO NOT throw it away! There is a fee to re-order your card You must activate your Higher One Card before you can receive a disbursement You can choose from the following disbursement methods: Open a Higher One account Easy Refund Transfer funds to your existing bank account ACH Transfer Request a paper check Remember to keep your address information up to date with both Financial Aid and Admissions & Records, otherwise, you may not receive your card and may have to pay to re-order your card If you move after you activate your Higher One card, remember to also update your address with Higher One

29 ENROLLMENT STATUS: Full-time status (FX) = or more units Three -quarter time status (3/4X) = units Half-time status (1/2X) = units Less than half-time status (<1/2X) = units Example: Award Proration based on enrollment status for a semester ENROLLMENT STATUS AWARD FOR SEMESTER 1-ST PAYMENT 2-ND PAYMENT FX $ 2,000 $ 1,000 $ 1,000 3/ 4X $ 1,500 $ 750 $ 750 1/ 2X $ 1,000 $ 500 $ 500

30 On the scheduled Recalculation Date for each term, your financial aid eligibility will be re-determined based on units you are enrolled in as of that date If you have reduced your enrollment, you may be required to pay back some of the money you were previously awarded If you increased your enrollment, likewise, you may have increase in eligibility Recalculation Dates for each term are posted on the FLC Financial Aid Webpage Attention: Any units added after the recalculation date will not be considered towards your award determination!

31 Example: You received a 1/2X award and you dropped below 6 units as of the Recalculation Date. You will be required to repay an amount based on the following calculation: Pell Grant (1/2X award received) $ Pell Grant (less than 1/2X award) Repayment owed to Pell Grant $

32 The following are considered unsuccessful grades for Financial Aid: F, NP, I, IP, W, NC, RD If you earn all unsuccessful grades, you may be required to repay your financial aid award If you withdraw from classes, you may be required to repay your financial aid award

33 Financial Aid Deadlines Quick Links: Financial Aid Click on Financial Aid Deadlines on left menu Institutional Deadlines Click on Academic Calendar on left menu

34 Do not withdraw excessively from classes Earn passing grades Make progress toward your degree Meet with your counselor regularly Do not overwhelm yourself with classes you do not have time for Only register for classes that are consistent with your educational goal Avoid changing major repeatedly Be aware of Financial Aid dates & deadlines

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