2014-2015 FINANCIAL AID AWARD AND DISBURSEMENT GUIDE Financial Aid Services 1200 W. Internatinal Speedway Blvd. Wetherell, Rm 104 Daytna Beach, FL 32114 386-506-3015 / FAX 386-506-4442 Email: financialaid@daytnastate.edu Please Read Cmpletely fr Infrmatin Abut: Eligibility fr Aid Disbursement Cst f Attendance Direct Lan Infrmatin Wrk-Study Infrmatin Renewal Requirements Satisfactry Academic Prgress Withdrawal and Federal Requirements
Welcme t Daytna State Cllege! We are excited that yu have decided t reach yur educatinal gals thrugh Daytna State Cllege! We understand that yu will be receiving a lt f financial aid infrmatin, and we are here t help yu understand the prcess. Yu may review yur financial aid award n the web thrugh FalcnNet. If a change is made t yur Free Applicatin fr Federal Student Aid (FAFSA) r additinal dcumentatin is requested, yu may view yur updated award n yur FalcnNet accunt as a new award letter will nt be mailed t yu. Yu can access FalcnNet frm Daytna State Cllege s web site at www.daytnastate.edu. Click n MyDaytnaState, sign int the prtal, then select FalcnNet n the menu bar. Yur user name fr the prtal was sent t yu by the Admissins Office. Yu can als btain yur user name n MyDaytnaState by clicking n Retrieve Cllege ID and Falcnmail Address (n the upper left f the screen). First-time users f the prtal may use DSC + yur 6 digit birth date as yur initial passwrd (fr example, if yur birth date is January 1, 1990, yur initial passwrd wuld be DSC010190). After selecting FalcnNet, click n Financial Aid (n the menu n the left). T view any dcuments received r still needed, click n Dcument Tracking. T view yur financial aid award, click n Financial Aid Awards. We hpe this guide will clarify the yur financial aid award, the different types f aid ffered, hw eligibility is determined, and the standards f satisfactry academic prgress yu must meet t renew yur financial aid eligibility. Please peridically check FalcnNet fr changes t yur award r any requests fr additinal infrmatin. We will nt send yu a revised award letter. Any changes in yur award r requirements will be available n FalcnNet. Eligibility fr financial aid fr the 2014-2015 academic year is based n yur enrllment status, yur curse f study (cllege credit r vcatinal credit), and the infrmatin prvided n the FAFSA. All students must be enrlled in an eligible degree r certificate prgram, and must be enrlled in curses required by that prgram. Please nte that yu must cmplete the FAFSA every year; therefre, yur eligibility may change frm year t year due t change in family incme, assets, the number in cllege, and standards f satisfactry prgress. Please read all f the enclsed infrmatin, and please be aware f the fllwing when reviewing yur financial aid award letter: Award Status Cdes Status Cde A is an actual award: The funds frm the grant, schlarship, r lan have been apprved. The funds have been, r will be, applied t yur student accunt after the end f the add/drp perid and yur enrllment has been verified fr each class each semester (see cllege catalg fr dates). (Please Nte: All financial aid awards will be reviewed at the end f the add/drp perid each semester, and the amunt will be adjusted t reflect yur enrllment status.) Status Cde C is a canceled award: The award has been canceled r terminated. - 1 -
Status Cde I is an intended award: Yu have the ptin t reduce r decline the award amunt. Additinal paperwrk may be required in rder t receive the funds fr this award. Fr example, in rder t receive the funds fr a Federal Direct Lan, a Direct Lan Request Frm must be received by the Financial Aid Services Office. A Federal Direct Lan Master Prmissry Nte (Direct Lan MPN) and Direct Lan entrance cunseling must als be cmpleted n the web at www.studentlans.gv. (Please allw at least 4 weeks after the submissin f lan paperwrk fr the lan t be prcessed.) Status Cde P is a pending r ptential award: Additinal paperwrk may be required in rder t receive the funds fr this award. Fr example, in rder t receive the funds fr a Fundatin Schlarship, a thank yu letter t the dnr must be submitted. (Late Start Pell Grant awards will remain in a pending status until after the end f the add/drp perid fr the late start classes and after yur enrllment has been verified. Fundatin schlarships will als remain in a pending status until after the end f the add/drp perid and it is determined that the student has met all eligibility criteria.) Status Cde N is a nullified award: The award has been canceled r terminated. Status Cde R is a rejected award: The award has been rejected/declined by the student. Requirements Which Will Delay Disbursement f Yur Funds First-year students wh are als first-time lan brrwers will nt receive their lan funds until at least 30 days after classes begin in their prgram. Als, a student s eligibility fr the Federal Direct Lan and grants is partially based n the credit hur enrllment as well as the start date f classes. Students shuld be aware that certain curses have staggered r irregular start dates (A and B terms) that are nt the same as the beginning f the standard semester. Students enrlled in these curses are nt eligible t receive the lan funds until the classes are in prgress and enrllment can be verified. Students enrlled in a curse with staggered start dates are encuraged t check with Financial Aid Services fr infrmatin cncerning aid disbursement dates. [Fr example: Since a student must be enrlled fr at least 6 credits in rder t receive the lan funds, if yu are enrlled fr 3 credits in Term A and 3 credits fr Term B, yur lans will nt be disbursed until after Term B begins and yur enrllment is verified. If yu are enrlled fr 6 credits fr Term B nly, yur lan funds will nt be disbursed until after Term B begins and yur enrllment is verified.] (Disbursement f lan funds will ccur nly after yur financial aid award has been made, all lan paperwrk has been received, the lan has been prcessed, and the cllege receives the lan funds.) Students are als required t cmplete the Financial Aid 101 Seminar n the prtal (r the Financial Aid 201 Seminar when available). Enrllment Status Yur initial financial aid award is based n yur enrllment status as indicated n yur award letter. Yur financial aid award will be adjusted after the end f the add/drp perid based n yur actual enrllment status. Please nte that mst financial aid prgrams require the student t be enrlled fr at least six credits and sme f yur aid may be reduced r cancelled if yu are nt enrlled in the minimum number f credit hurs required by the award prgram. - 2 -
Full-time enrllment: 12 r mre credits Three-quarter-time enrllment: 9-11 credits Half-time enrllment: 6-8 credits Less than half-time enrllment: 1-5 credits Outside r Other Financial Assistance Yu must ntify the Financial Aid Services Office f any financial assistance yu receive frm a surce utside f Daytna State Cllege. Outside aid wuld cnsist f schlarships, lan, grants, tuitin reimbursement, etc. All types f financial assistance are cnsidered as a resurce t meet yur financial need (utside schlarships, athletic awards, tuitin waivers r tuitin reimbursement, SGA awards, etc.). If yu receive any additinal financial assistance after yur initial financial aid award has been made, yur file will be reviewed t determine if any f yur financial aid needs t be adjusted as a result f the additinal resurce. (Fr example, if yu receive an utside schlarship, tuitin waiver r tuitin reimbursement, SGA awards, etc., yur Direct Lan, Federal Wrk-Study, r need-based grant award may need t be reduced r canceled in rder t add the ther aid t yur award.) Lans If yu are interested in a lan, please review the What I Shuld Knw Befre I Apply fr a Lan sectin in this Guide. If yu decide yu want a student lan, yu must submit a cmpleted Federal Subsidized/Unsubsidized Direct Lan Request Frm and cmplete a Federal Direct Lan Master Prmissry Nte (MPN) n the web. Yu need t cmplete the MPN nly if yu have nt dne ne in the past. What Are the Enrllment Requirements fr Each Prgram? Students must be enrlled fr a specific number f credit hurs per term in rder t receive and retain financial aid funding. All students must be enrlled in an eligible degree r certificate prgram, and must be enrlled in curses required by that prgram. Enrllment is checked after the end f the add/drp perid and may be checked again if a student withdrawals r drps a curse. State f Flrida Prgrams Flrida Academic Schlars/Flrida Medallin r Flrida Vcatinal Gld Seal: Minimum f 6 credit hurs per term. Flrida Student Assistance Grant: Minimum f 6 credit hurs per term. Students must demnstrate need as determined by the FAFSA and must meet the EFC requirement as determined by the State. First Generatin Matching Grant Prgram: Minimum f 6 credit hurs per term. This grant is funded by the Flrida legislature and the funds must be matched by the cllege. At this time we d nt knw if funds will be available fr 2014-2015. Students must demnstrate need fr the Flrida Student Assistance Grant as determined by the FAFSA and meet the EFC requirement as determined by the State. Flrida Wrk Experience Prgram: minimum f 6 credit hurs per term. Student must demnstrate need as determined by the FAFSA. - 3 -
Federal Financial Aid Prgrams Pell Grant: Minimum f at least 1 curse per term. [Please nte that determinatin f eligibility fr the Pell Grant is based n enrllment status, cst f attendance, and expected family cntributin (EFC). Enrllment fr less than 6 credits per term may make a student ineligible fr the Pell Grant.] Federal Supplemental Educatinal Opprtunity Grant: Minimum f 6 credit hurs per term. Federal Direct Lans (Subsidized and Unsubsidized): Minimum f 6 credit hurs per term. Federal Wrk-Study: Minimum f 6 credit hurs per term. Iraq Afghanistan Service Grant: Minimum f at least 1 curse per term. Institutinal Financial Aid Prgrams Daytna State Need Grant: Minimum f 6 credit hurs per term. Daytna State Vcatinal Need Grant: Minimum f 6 credit hurs per term. Institutinal Wrk-Study: Minimum f ne curse per term depending n prgram f study. Hw Are Financial Aid Funds Paid t My Student Accunt? All students must have a cmpleted Financial Aid 101 Seminar (r Financial Aid 201 Seminar, when available) n file. Grants and Schlarships cntrlled by the cllege are usually psted t yur student accunt apprximately three weeks after the end f the add/drp perid fr yur prgram, and yur enrllment has been verified fr each curse (see cllege catalg fr estimated dates). [Please Nte: Psting funds t yur student accunt is nt the same as receiving thse funds as a refund. The Office f Student Accunts must run separate prcesses t determine if a student is eligible fr a refund.] Lans will be psted t yur student accunt when the funds are received; hwever, if yu are a new Daytna State brrwer, yu must cmplete Federal Direct Lan Entrance Cunseling befre the funds will be psted t yur accunt. Entrance cunseling can be cmpleted n the web at http://www.studentlans.gv. First-year students wh are als first-time brrwers may nt receive the funds until at least 30 days after classes begin in their prgram. N lan funds will be disbursed until at least three weeks after the end f the add/drp perid and after enrllment has been verified fr each curse. (Disbursement f lan funds will ccur nly after yur financial aid award has been made, all lan paperwrk has been received, the lan has been prcessed, yu have cmpleted yur Federal Direct Lan Master Prmissry Nte n the web at www.studentlans.gv, and the cllege receives the lan funds.) [Please Nte: Psting funds t yur student accunt is nt the same as receiving thse funds as a refund. The Office f Student Accunts must run separate prcesses t determine if a student is eligible fr a refund.] Please nte that any funds psted t yur student accunt will first be used t pay yur charges t the Cllege. [This means that if yur lan funds are psted t yur student accunt prir t grant funds, yur charges with the cllege (tuitin, fees, bk vuchers r bk deferments, etc.) will be deducted frm the lan funds. If yur grant funds are psted t yur student accunt prir t lan funds, yur charges with the cllege (tuitin, fees, bk vuchers r bk deferments, etc.) will be deducted frm the grant funds.] Psting funds t yur student accunt is nt the same as receiving thse funds as a - 4 -
refund. The Office f Student Accunts must run separate prcesses t determine if a student is eligible fr a refund. A student s eligibility fr financial aid is partially based n their enrllment status as well as the start date f classes. Students shuld be aware that certain curses have staggered r irregular start dates (A and B sub-sessins) that are nt the same as the beginning f the standard semester. Students enrlled in these curses are nt eligible t receive the financial aid funds until the classes are in prgress and enrllment can be verified. [This means that funds will be held until enrllment is verified fr B term r late start curse(s)). Fr example: Since a student must be enrlled fr at least 6 credits in rder t receive the lan funds, if yu are enrlled fr 3 credits in Term A and 3 credits fr Term B, yur lans will nt be disbursed until after Term B begins and yur enrllment is verified. If yu are enrlled fr 6 credits fr Term B nly, yur lan funds will nt be disbursed until after Term B begins and yur enrllment is verified. If yu are eligible fr the federal Pell Grant and yu are enrlled fr 3 credits in Term A and 3 credits fr Term B, yu will nly receive half f yur Pell Grant amunt after yur enrllment has been verified fr Term A; yu will receive the ther half f yur Pell Grant amunt after Term B begins and yur enrllment has been verified. If yu are enrlled fr 6 credits fr Term B nly, yur Pell Grant funds will nt be disbursed until after Term B begins and yur enrllment is verified. If yu are registered fr late start r staggered start classes, the Pell Grant fr these classes will be cded as a Late Start Pell.] Outside schlarships will be psted t yur student accunt each semester upn receipt f the funds. Psting funds t yur student accunt is nt the same as receiving thse funds as a refund. The Office f Student Accunts must run separate prcesses t determine if a student is eligible fr a refund. What Happens t my Financial Aid if I Drp a Class r Classes? Yur financial aid will be adjusted if yur enrllment drps belw the minimum number f credits required fr the award. Fr example, if yu drp belw 6 credit hurs befre yur lan funds have been received, yu will nt be eligible fr the lan as yu must be enrlled fr at least 6 credits t receive the funds. All financial aid awards will be reviewed at the end f the add/drp perid each semester, and the amunt will be adjusted t reflect yur enrllment status and eligibility at that time. If yu withdraw frm all f yur classes befre the last day t receive a tuitin refund, yur financial aid will be canceled. If yu withdraw frm all f yur classes r cease attending classes prir t cmpleting mre than 60% f the term, yu may we a percentage f the federal funds received fr that semester (see the cllege catalg n return f Title IV funds fr mre infrmatin). What is Cst f Attendance? Mst individuals calculate the cst f attendance by the amunt f tuitin and fees charged plus the cst f bks and supplies. These are direct educatinal expenses. There are, hwever, indirect educatinal expenses, such as transprtatin expenses, fr which students will need t budget. The chart belw illustrates examples f bth in-state and ut-f-state budgets fr full-time cllege credit and vcatinal credit students fr ne academic year (Fall Semester and Spring Semester). - 5 -
Please nte: Tuitin fr in-state Bachelr students: $2,901* (24 credits); ut-f state Bachelr students: $15,219* (24 credits) Full-Time Cllege Credit Budget In-State Out-f-State Tuitin (24 credits) $2,508* $9,763* Bks and Supplies Rm and Bard Persnal Transprtatin Ttal Budget $ 1,200 $ 2,128 (dependent) $ 6,000 (independent) $ 1,624 dep. / $1,600 independent $ 700 dep. / $1,500 independent $ 8,160 (dependent) $12,808 (independent) $1,200 $ 2,128 (dependent) $ 6,000 (independent) $ 1,624 dep. / $1,600 independent $ 700 dep. / $1,500 independent $15,415(dependent) $20,063 (independent) Full-Time Vcatinal Credit Budget In-State Out-f-State Tuitin (24 credits) $2,014* $8,056* Bks and Supplies Rm and Bard Persnal Transprtatin Ttal Budget $1,200 $ 2,128 (dependent) $ 6,000 (independent) $1,624 dep. / $1,600 independent $ 700 dep. / $1,500 independent $ 7,666 (dependent) $12,314 (independent) $1,200 $ 2,128 (dependent) $ 6,000 (independent) $1,624 dep. / $1,600 independent $ 700 dep. / $1,500 independent $ 13,708 (dependent) $ 18,356 (independent) Sme prgrams f study have additinal csts. Please refer t the Prgram Descriptins. *Based n 2013-2014 rates Please nte: Daytna State Cllege des nt prvide residence halls. - 6 -
Prcessing Requirements What Shuld I Knw befre I Apply fr a Federal Direct Lan? Federal Subsidized/Unsubsidized Direct Lan Request Frm: Students wh are interested in applying fr a student lan must cmplete and submit this frm. The frm may be btained at any f the Financial Aid Services ffices r yu may dwnlad the frm frm ur website under 2014-2015 Frms. Federal Direct Lan Entrance Cunseling: All first-time Direct Lan brrwers at Daytna State must cmplete Federal Direct Lan Entrance Cunseling. The purpse f entrance cunseling is t infrm yu f yur rights and respnsibilities as a brrwer. The lan will nt be prcessed until the Lan Entrance Cunseling is cmpleted. Lan Entrance Cunseling may be cmpleted n the web at http://www.studentlans.gv. Click Sign-In in the Manage My Direct Lans bx n the left Sign in using yur PIN (this is the same PIN used t sign yur FAFSA) Select Cunseling, Cmplete Cunseling Select Entrance Cunseling Select I am cmpleting entrance cunseling t receive Direct Lans as an undergraduate student. This cunseling will fulfill cunseling requirements fr Direct Subsidized and Unsubsidized Lans. (D nt select the entrance cunseling fr graduate r prfessinal students.) The Financial Aid Office will be ntified when this requirement is met. Students requesting the Direct Additinal Unsubsidized Lan must als cmplete Financial Awareness Cunseling each year at www.studentlans.gv. Cmplete the Federal Direct Lan Master Prmissry Nte (MPN) n the web at www.studentlans.gv if yu have nt already dne s. The Federal Direct Lan Master Prmissry Nte (MPN) is nt available frm the schl. Click Sign-In in the Manage My Direct Lans bx n the left Sign in using yur PIN (this is the same PIN used t sign yur FAFSA) Select Master Prmissry Nte, Cmplete MPN Select Subsidized/Unsubsidized The prcessing f a student lan has multiple steps that d nt start until the Federal Subsidized/Unsubsidized Direct Lan Request Frm, Direct Lan entrance cunseling, and the Direct Lan Master Prmissry Nte (Direct MPN) have been cmpleted. The Cllege makes every attempt pssible t make a schedule and wrkflw that has a gal f disbursing lan balances at the earliest pssible time. Crdinating the electrnic infrmatin amng the cllege, the U.S. Department f Educatin, Higher One, and faculty attendance submissin is a cmplex prcess t navigate, administer and crdinate. Step 1. The cllege will review yur Federal Subsidized/Unsubsidized Direct Lan Request Frm t make sure it is cmpleted crrectly, r return it t yu fr crrectin. Step 2. The cllege cmpletes an nline data prcess t electrnically send yur lan infrmatin t the U.S. Department f Educatin. Step 3. If yu have nt already dne s, yu (the student) shuld cmplete the Direct Lan Master Prmissry Nte (Direct MPN) n the web at www.studentlans.gv. (Yu can als cmplete Direct Lan entrance cunseling n this web site if yu have nt already dne s.) Step 4. The U.S. Department f Educatin will review the electrnic file received frm Daytna State, and verify if a Direct Lan MPN has been cmpleted. While the Direct Lan can be apprved by the U.S. Department f Educatin withut a cmpleted Direct Lan MPN, the lan - 7 -
funds will nt be apprved by the federal gvernment until it verifies that a Direct Lan MPN has been cmpleted. Step 5. The initial disbursement date each semester is scheduled fr apprximately 3-4 weeks after classes start t allw fr the enrllment verificatin prcess t be cmpleted. Lan funds are received nce per week frm the U.S. Department f Educatin. First-time brrwers cannt have lans disbursed until 30 days after the start f classes. Step 6. When the lan funds are received frm the U.S. Department f Educatin, they g int a general cllege clearing accunt and then the funds are disbursed t the individual student accunts. The cllege then needs t cnfirm that enrllment has been verified by instructrs fr at least 6 credits, and there have been n withdrawals reducing current enrllment t belw 6 credits. At the same time, cmpletin f the lan entrance cunseling will be verified nce again. Types f Lans Federal Direct Subsidized (a fixed interest rate f 3.86% fr lans first disbursed between July 1, 2013 and June 30, 2014) This lan is awarded t students wh demnstrate need as determined by the Free Applicatin fr Federal Student Aid (FAFSA) results. With this lan, the federal gvernment pays the interest while the student is enrlled at least half time (6 credit hurs) in an eligible prgram. There is a 1.072% riginatin fee which will be deducted frm the grss amunt f the lans fr lans disbursed n r after December 1, 2013. Maximum lan amunt fr students enrlled in prerequisites t be accepted int a DSC undergraduate degree prgram is $2,625 fr a maximum f 12 mnths. Maximum lan amunts fr the year are $3,500 fr certificate students and Assciate degree students wh have earned less than 30 credits (freshmen) twards their current prgram f study; $4,500 fr Assciate degree students with 30+ credits earned twards their current prgram f study (sphmres); and $5,500 fr students with 60 r mre credits earned twards their current prgram f study (junirs and senirs in the bachelr degree prgrams). The aggregate amunt f subsidized lans that undergraduate students can brrw is $23,000. Fr Direct Subsidized Lans that are first disbursed between after July 1, 2012 and July 1, 2014, the student will be respnsible fr the interest during the 6 mnth grace perid after the student stps attending schl at least half time. Student must be enrlled at least half time. Federal Direct Unsubsidized Lan (a fixed interest rate f 3.86% fr lans first disbursed between July 1, 2013 and June 30, 2014) This lan is awarded t students wh d nt shw need as determined by the FAFSA results r are nt eligible fr the entire amunt f their lan t be subsidized. The federal gvernment des nt pay the interest n this lan, and yu will be respnsible fr paying the interest. Yu have the ptin n the lan applicatin (Master Prmissry Nte) t defer the interest payments while in schl. The interest, if deferred, is added t the principal balance f the lan. There is a 1.072% riginatin fee which will be deducted frm the grss amunt f the lan fr lans disbursed n r after December 1, 2013. Maximum grade level lan amunts mentined abve (fr the Federal Direct Subsidized Lan) are fr bth subsidized and unsubsidized lans. - 8 -
Dependent students may be able t brrw an additinal $2,000 unsubsidized even if they have brrwed their maximum grade level amunt. The aggregate amunt f subsidized/unsubsidized lans that undergraduate dependent students can brrw is $31,000 (f which n mre than $23,000 can be subsidized lans). Student must be enrlled at least half time. Additinal Federal Unsubsidized Direct Lan (a fixed interest rate f 3.86% fr lans first disbursed between July 1, 2013 and June 30, 2014) Students wh are independent as determined by the FAFSA results (r dependent students whse parent has applied fr the Federal Direct Parent PLUS Lan and been denied) are eligible t brrw additinal amunts f the Federal Direct Unsubsidized Lan. Students requesting the Direct Additinal Unsubsidized Lan must als cmplete Financial Awareness Cunseling each year at www.studentlans.gv. There is a 1.072% riginatin fee which will be deducted frm the grss amunt f the lan fr lans disbursed n r after December 1, 2013. Maximum lan amunts fr the year are $4,000 fr certificate students, freshmen and sphmre students in Assciate degrees, and $5,000 fr junir and senir students in the bachelr degree prgrams. Independent students may be able t brrw an additinal $2,000 unsubsidized lan. The federal gvernment des nt pay the interest n this lan, and yu will be respnsible fr paying the interest. Yu have the ptin n the lan applicatin (Master Prmissry Nte) t defer the interest payments while in schl. The interest, if deferred, is added t the principal balance f the lan. The aggregate amunt f subsidized/unsubsidized lans that undergraduate independent students can brrw is $57,500 (f which n mre than $23,000 can be subsidized lans). Student must be enrlled at least half time. Federal Direct Parent PLUS Lan (a fixed interest f 6.41% fr lans first disbursed between July 1, 2013 and June 30, 2014) The parent is the brrwer f this lan and a credit check is required. The student must be enrlled at least half time (6 credit hurs per semester). Students are required t file the FAFSA befre a Federal Direct Parent PLUS Lan may be prcessed. The parent may brrw the difference between the cst f attendance and the amunt f financial aid awarded t the student. Repayment begins after the last disbursement fr the lan has been received. Hwever, parents may apply fr a deferment while the student is enrlled at least half time (6 credits). The federal gvernment des nt pay the interest n this lan; the parent will be respnsible fr paying the interest. There is a 4.288% riginatin fee which will be deducted frm the grss amunt f the lan fr lans disbursed n r after December 1, 2013. Parents can apply fr the Federal Direct Parent PLUS Lan n the web at www.studentlans.gv. Click Sign-In in the Manage My Direct Lans bx n the left Sign in using yur PIN (this is the same PIN that the parent used t sign the student s FAFSA) Select Request a Direct PLUS Lan Select Parent PLUS - 9 -
New Limit n Direct Subsidized Lan Eligibility fr New Brrwers Effective July 1, 2013, the Mving Ahead fr Prgress in the 21 st Century Act established a limit n Direct Subsidized Lan eligibility fr first-time brrwers. A first-time brrwer is a student wh has n utstanding balance f principal r interest n a Direct Lan r FFEL Lan as f July 1, 2013 r the date the brrwer btains a Direct Lan after July 1, 2013. First-time brrwers will n lnger be eligible fr a Direct Subsidized Lan nce the student has received the Direct Subsidized Lan fr a perid that is 150% f the published length f the student s current educatinal prgram (as determined by years). Belw are examples f the 150% maximum eligibility perids fr Daytna State Cllege degree and certificate prgrams: Prgram Length Maximum Eligibility Perid 4-year bachelr degrees x 1.5 6.0 years 2-year assciate degrees x 1.5 3.0 years 1-year certificate prgrams x 1.5 1.5 years A first-time brrwer wh lses eligibility fr additinal subsidized lans as a result f reaching the maximum eligibility perid, als lses the interest subsidy n subsidized lans received n r after July 1, 2013 during all perids if the student did nt cmplete the prgram and cntinues enrllment in the same prgram r enrlls in anther prgram f the same r shrter length. The lss f the interest subsidy wuld be effective n the date f the cntinued r new enrllment. Please Nte: The determinatin f the 150% limit n Direct Subsidized Lan eligibility is nt the same as the financial aid standards f satisfactry academic prgress maximum time frame f 150% fr cmpletin f a degree r certificate prgram. The financial aid standards f satisfactry academic prgress maximum time frame is based n 150% f the prgram length as determined by ttal attempted credits (please refer t sectin, What is Satisfactry Academic Prgress?). Lan Facts Brrwing n a lan is a serius undertaking, and can be a majr cntributr t excessive student debt. Be a smart brrwer and avid verwhelming lan bligatins by understanding yur ptins and keeping yur debt t a minimum. Yu are encuraged t brrw nly the amunt necessary t pay fr tuitin, fees, and bks. Cautin: Please remember, at the start f the semester, lans are being prcessed by every cllege in the cuntry, resulting in a pssible slwdwn in the system due t the high vlume. Yu shuld never write checks r make payment prmises when waiting fr a lan disbursement. Research and apply fr as many schlarships/grants as pssible. The mre free mney yu btain, the less lan mney yu will need. Prepare a budget. Knw hw much yu will need t pay fr yur curses and ther educatinal csts. Knw that yu dn't have t brrw the entire amunt that's available t yu. Yu can chse t have a lwer lan amunt. - 10 -
Always lk int yur eligibility t apply fr the Federal Direct Lan (subsidized/unsubsidized) befre yu apply fr a private lan. If yu decide t brrw, lk int the varius types f student lans available as the interest rates, repayments benefits, and credit criteria vary. Lans must be repaid. Once yu sign the prmissry nte, yu are bligated t repay this debt regardless f yur educatin and/r emplyment utcmes. Yur educatinal lans will becme part f yur credit histry; prtect yur credit. Defaulting n yur lan (failure t make payments r adequate payments) will result in a lwer credit scre which may have an adverse effect n yur ability t brrw in the future. Lan Disbursement Prcess Lan funds will be received electrnically and psted t yur student accunt. N lan funds will be disbursed until at least three weeks after the end f the add/drp perid and after enrllment has been verified. (Disbursement f lan funds will ccur nly after yur financial aid award has been made, all lan paperwrk has been received, the lan has been prcessed, yu have cmpleted yur Federal Direct Lan Master Prmissry Nte and lan entrance cunseling n the web, and the cllege receives the lan funds.) [Please Nte: Psting funds t yur student accunt is nt the same as receiving thse funds as a refund. The Office f Student Accunts must run separate prcesses t determine if a student is eligible fr a refund.] A student attending bth the fall and spring semesters will usually receive ne disbursement fr ne-half f the ttal lan prceeds per semester, if eligible. Funds fr a fall nly r spring nly lan will be disbursed in tw disbursements during the term, ne-half f the lan prceeds each time. The secnd disbursement cannt be received until at least half way thrugh the lan perid. Check with the Office f Student Accunts fr anticipated disbursement dates. Students must be enrlled fr at least 6 credits in rder t receive the funds at the time f disbursement. If yur enrllment status drps t less than half-time, n lan funds can be disbursed regardless f the charges r riginal enrllment status (Nte: Curses fr which yu have received Ws and FNs are nt included when determining yur enrllment status). First-year students wh are als first-time brrwers may nt receive the funds until at least 30 days after classes begin in their prgram. A student s eligibility fr the Federal Direct Lan is partially based n yur enrllment status as well as the start date f classes. Students shuld be aware that certain curses have staggered r irregular start dates that are nt the same as the beginning f the standard semester. Students enrlled in these curses are nt eligible t receive the lan funds until the classes are in prgress and enrllment can be verified. Students enrlled in a curse with staggered start dates are encuraged t check with Financial Aid Services fr infrmatin cncerning aid disbursement dates. [Fr example: Since a student must be enrlled fr at least 6 credits in rder t receive the lan funds, if yu are enrlled fr 3 credits in Term A and 3 credits fr Term B, yur lans will nt be disbursed until after Term B begins and yur enrllment is verified. If yu are enrlled fr 6 credits fr Term B nly, yur lan funds will nt be disbursed until after Term B begins and yur enrllment is verified.] Students in vcatinal certificate prgrams must successfully cmplete the required clck hurs and weeks in their first payment perid befre they wuld be eligible t receive any disbursements f financial aid fr the secnd payment perid. [Fr example: If the Law Enfrcement vcatinal prgram requires the cmpletin f 770 clck hurs ver 20 weeks, a student wuld nt be eligible fr a secnd disbursement f financial aid until the student had successfully cmpleted the first 385 clck hurs and first 10 weeks f the prgram.] - 11 -
What D I D if I Want t Wrk? Students interested in wrking may d s thrugh ne f three wrk prgrams and must cntact the Student Emplyment Crdinatr in the Financial Aid Services Office if interested in Federal Wrk- Study (FWS), the Flrida Wrk Experience Prgram (FWEP), r Institutinal Wrk-Study (IWS) regarding available psitins and paperwrk. Federal Wrk-Study Must shw need thrugh the cmpletin f the FAFSA. Must be enrlled fr at least 6 credit hurs per semester. May wrk up t 20 hurs per week (depending n need). Students may nt wrk during scheduled class times. A student will nt be allwed t earn mre than the award amunt ffered. Must meet the Financial Aid standards f satisfactry academic prgress. Institutinal Wrk-Study Nt based n need, cmpletin f the FASFA is nt required. Must be a Daytna State Cllege student. May wrk up t 30 hurs per week. Students may nt wrk during scheduled class times. Must meet the Financial Aid standards f satisfactry academic prgress. Flrida Wrk Experience Prgram Must shw need thrugh the cmpletin f the FAFSA. Must be enrlled fr at least 6 credit hurs per semester. Maximum hurs determined by the emplyer and student (depending n need). Students may nt wrk during scheduled class times. Must maintain a minimum cumulative grade pint average f a 2.0. A student will nt be allwed t earn mre than the award amunt ffered. Must meet the Financial Aid standards f satisfactry academic prgress. I have been ffered a FWS/FWEP/IWS psitin; Nw What? When the student is ffered Federal Wrk-Study, Flrida Wrk Experience Prgram, r Institutinal Wrk-Study, he/she will need t see the Student Emplyment Crdinatr lcated in the Financial Aid Services Office n the Daytna Beach campus t cmplete the necessary paperwrk. Students must cmplete a Federal Emplyment Eligibility Verificatin/I-9 frm as well as a Federal W-4 frm befre they may begin t wrk n campus. These frms must be cmpleted in persn with the Student Emplyment Crdinatr. Yur FWS, FWEP, r IWS award is earned thrugh wrking; students are paid via direct depsit r thrugh the Daytna State One Card. - 12 -
State f Flrida Prgrams What are the Renewal Requirements fr my Financial Aid? Flrida Academic Schlars: Need a 3.0 cumulative grade pint average as f the end f the spring term, and earn at least 24 credit hurs fr the academic year, if enrlled full time (prrated fr part-time students). Must be enrlled in an eligible degree r certificate prgram, and must be enrlled in curses required by that prgram. Must nt have earned a bachelr degree. Please refer t the attached Bright Futures Schlarship infrmatin frm last year s (2013) Legislative sessin. When the 2014 Legislative sessin has cncluded, we will prvide any changes r updates. Flrida Medallin r Flrida Vcatinal Gld Seal: Need a 2.75 cumulative grade pint average as f the end f the spring term, and earn at least 24 credit hurs fr the academic year, if enrlled full time (prrated fr part-time students). Must be enrlled in an eligible degree r certificate prgram, and must be enrlled in curses required by that prgram. Must nt have earned a bachelr degree. Please refer t the attached Bright Futures Schlarship infrmatin frm last year s (2013) Legislative sessin. When the 2014 Legislative sessin has cncluded, we will prvide any changes r updates. First Generatin Matching Grant Prgram: Need a 2.5 cumulative grade pint average as f the end f the spring term, and earn at least 24 credit hurs fr the academic year, if enrlled full time (prrated fr part-time students). Must be enrlled in an eligible degree r certificate prgram, and must be enrlled in curses required by that prgram. Must be meeting the Financial Aid standards f satisfactry academic prgress. Must nt have earned a bachelr degree. Please nte that this grant is funded by the Flrida Legislature and the funds must be matched by the cllege. At this time we d nt knw if funds will be available fr 2014-2015. Flrida Student Assistance Grant: Need a 2.0 cumulative grade pint average as f the end f the spring term, must be enrlled in an eligible degree r certificate prgram, must be enrlled in curses required by that prgram, and must nt have earned a bachelr degree. Must be meeting the Financial Aid standards f satisfactry academic prgress. Must earn the fllwing fr each term an award was received during the academic year: 12 credit hurs fr each term f full-time enrllment; 9 credit hurs fr each term f three-quarter time enrllment; r 6 credit hurs fr each term f half-time enrllment. Flrida Wrk Experience Prgram: Need a 2.0 cumulative grade pint average as f the end f the spring term, must be enrlled in an eligible degree r certificate prgram, and must be enrlled in curses required by that prgram, and must nt have earned a bachelr degree. Must be meeting the Financial Aid standards f satisfactry academic prgress. Must earn the fllwing fr each term an award was received during the academic year: 12 credit hurs fr each term f full-time enrllment; 9 credit hurs fr each term f three-quarter time enrllment; 6 credit hurs fr each term f half-time enrllment - 13 -
Federal Financial Aid Prgrams Students must cmplete the FAFSA t determine eligibility each year and meet the financial aid Standards f Satisfactry Academic Prgress t renew financial aid prgrams. Hwever sme prgrams have additinal requirements, see belw. Federal Pell Grant: Must nt have earned a bachelr degree (Please nte: A student with a baccalaureate r prfessinal degree is ineligible even if the degree is frm an unaccredited schl r is nt recgnized by the Cllege. Similarly, a student with a baccalaureate r prfessinal degree frm a freign schl usually isn t eligible fr a Pell grant.) Effective July 1, 2012, the Cnslidated Apprpriatins Act f 2012 reduced the duratin f a student s eligibility t receive a Federal Pell Grant frm 18 semesters (r its equivalent) t 12 semesters (r its equivalent). This change applies t all Federal Pell Grant eligible students. It is n lnger limited t students wh received their first Federal Pell Grant n r after July 1, 2008. Federal TEACH Grant: Must nt have earned a bachelr degree (see abve). Funded by the Federal Gvernment, this grant is fr undergraduate students in the B.S. in Educatin degree in a high need field such as Bilingual Educatin and English Language Acquisitin, Freign Language, Mathematics, Reading Specialist, Science, Special Educatin, and ther identified teacher shrtage areas. Students must have at least a 3.25 cumulative grade pint average, and must cmplete Teach Grant cunseling and Teach Grant Agreement t Serve each academic year. Federal Direct Subsidized Lan: Effective July 1, 2013, the newly enacted Mving Ahead fr Prgress in the 21 st Century Act established a limit n Direct Subsidized Lan eligibility fr firsttime brrwers. A first-time brrwer is a student wh has n utstanding balance f principal r interest n a Direct Lan r FFEL Lan as f July 1, 2013, r the date the brrwer btains a Direct Lan after July 1, 2013. First-time brrwers will n lnger be eligible fr a Direct Subsidized Lan nce the student has received the Direct Subsidized Lan fr a perid that is 150% f the published length f the student s current educatinal prgram. Please refer t sectin, New Limit n Direct Subsidized Lan Eligibility fr New Brrwers. Institutinal Financial Aid Prgrams Students must cmplete the FAFSA t determine eligibility each year and meet the financial aid Standards f Satisfactry Academic Prgress t receive institutinal funded financial aid prgrams. What is Satisfactry Academic Prgress? Financial Aid Satisfactry Academic Prgress will be reviewed each semester fr all students. In rder t determine if a student is meeting the financial aid satisfactry academic prgress standards, all transcripts frm any previus pst-secndary institutins attended are required. In general, students will be ntified by FalcnMail email within a week after each semester has ended, r after all fficial academic transcripts are received and evaluated, if they are nt meeting the financial aid standards f satisfactry academic prgress. [Students wh had nt submitted a FAFSA at the time that the Financial Aid Services Office des the review at the end f a semester will generally be ntified thrugh FalcnMail within 3-4 weeks after the FAFSA is received.] Students can view their financial aid satisfactry academic prgress status (as well as the effective semester/year fr that status) n FalcnNet under Financial Aid Awards. - 14 -
Gd Standing: T be in gd standing yu must satisfy all f the fllwing elements f the plicy: 1. Successful Cmpletin Rati: Earn 67% r abve f cumulative credits attempted, cmbining all Daytna State Cllege attempted credits and all attempted transfer credits added t the Daytna State Cllege transcript (including all develpmental/remedial credits); 2. Cumulative Grade Pint Average: Earn a cumulative grade pint average (cum GPA) f a 2.0 r abve (including develpmental cllege credits and transfer credits added t the Daytna State Cllege transcript), with the exceptin f the BS in Educatin degree. Students in the BS in Educatin degree must earn a cum GPA f a 2.5 r abve (including develpmental/remedial cllege credits and all transfer credits added t the Daytna State Cllege transcript); 3. Maximum Time Frame: Graduate within 150% f the length fr the student s prgram, including all Daytna State attempted credits and all transfer attempted credits added t the Daytna State Cllege transcript. [Fr Assciate degree prgrams, a maximum f 90 attempted credits; fr Bachelr degree prgrams, a maximum f 180 attempted credits; fr certificate prgrams, 150% f the published length f the certificate prgram. Students will als be suspended as sn as it is determined t be mathematically nt pssible t graduate within the 150% timeframe, nt when the 150% timeframe is reached.] Successful Cmpletin Rate This standard requires students t successfully cmplete (with letter grade f A, B+, B, C+, C, D+, D) a minimum f 67 percent f the ttal number f credits attempted. [Fr example, if yu have attempted a ttal f 30 credits, yu must successfully cmplete 20 credits with a cum 2.0 r abve. (30 credits x.67 = 20 credits successfully cmpleted)] Attempted credits include all credits in which yu are registered at the end f the add/drp perid. Letter grades f F, FN, W, I, SP r IP will nt be cnsidered as credits successfully cmpleted r earned. Students wh repeat a curse fr any reasn shuld be aware that each time yu enrll in a curse it cunts as an attempt, but nly ne attempt is cnsidered earned. Repeated curses will have an impact n yur ability t cmplete yur prgram within the required maximum time frame. (Please nte: Academic amnesty des nt apply t the financial aid standards f satisfactry academic prgress.) Cumulative Grade Pint Average (cum GPA) Yu are required t maintain a minimum cumulative grade pint average f 2.0 (C grade). Students in the BS in Educatin degree must maintain a minimum cumulative grade pint average f 2.5. Refer t the Cllege catalg fr mre infrmatin regarding grading plicies. (Please nte: Academic amnesty des nt apply t the financial aid standards f satisfactry academic prgress.) Maximum Credit Review/Pace Under these standard, students must cmplete their degree r certificate within 150% f the prgram length, including all Daytna State attempted credits and all attempted transfer credits n the Daytna State Cllege transcript. All attempted credits, including incmplete grades and repeats, are cunted tward the 150 percent maximum time frame. The nly exceptins t this are all ESL curses and nncredit curses. [Fr Assciate degree prgrams, a maximum f 90 attempted credits; fr Bachelr degree prgrams, a maximum f 180 attempted credits; fr certificate prgrams, 150% f the published length f the certificate prgram.] (Please nte: Academic amnesty des nt apply t the financial aid standards f satisfactry academic prgress.) Students will als be ineligible fr financial aid as sn as it is determined t be mathematically nt pssible t graduate within the 150% timeframe, nt when the - 15 -
150% timeframe is reached. If yu exceed the maximum number f credits (r if it is determined t be mathematically nt pssible t cmplete yur degree/prgram within the 150% timeframe), students are n lnger eligible t receive financial aid unless a ne-time appeal is apprved. If apprved fr an appeal fr exceeding 150% f the prgram length, it will be a ne-time nly appeal fr the degree r certificate prgram fr which the appeal was based. If the appeal is apprved, the student will receive an academic plan listing the credit hurs and curses needed t cmplete the prgram frm Academic Advising. As part f apprval status, students will be required t agree t, and sign, and submit the plan t Financial Aid Services. The student cannt change majrs nce the appeal has been apprved. Students must successfully cmplete all classes attempted each semester, enrlling nly in classes required fr the apprved majr, and earn at least a 2.0 term GPA each semester. Students wh d nt cmply with these terms will be suspended and be ineligible fr financial aid. All attempted credits, including incmplete grades and repeats, are cunted tward the 150% maximum time frame. Once the number f apprved attempted credits is reached r exceeded, the student will n lnger be eligible fr financial aid. If the student changes t anther majr, degree, r certificate prgram and has nt cmpleted the degree r certificate prgram fr which the appeal was apprved, the student will n lnger be eligible fr financial aid and will nt be cnsidered fr anther appeal fr maximum credit. Students wh change their educatin prgram r graduate and reapply t a new prgram must still adhere t the maximum credit plicy. In ther wrds, all f yur previus Daytna State attempted credits and all attempted transfer credits will cunt twards the 150% time frame. Cnsideratin will be given t students cmpleting a secnd degree r certificate. Financial Aid Warning: A student will be placed n Warning the first time the first tw Gd Standing requirements are nt met (a student wh is nt meeting the requirement t cmplete within 150% f the prgram length will be suspended). Students can cntinue t receive financial aid while n Warning, even thugh they are nt in Gd Standing, with the understanding that all the Gd Standing criteria must be met at the end f the Warning term r they will be suspended. Financial Aid Suspensin: A student wh is nt in Gd Standing after the warning perid will be ineligible fr financial aid (suspended), as well as students wh exceed 150% f the prgram length (r as sn as it is determined that it is nt mathematically pssible fr the student t cmplete within 150%). Financial aid (which includes grants, lans, and wrk-study) cannt be received nce suspensin ccurs. An appeal f suspensin is allwed, and will be apprved nly in the cases f a dcumented exceptinal persnal circumstance beynd the cntrl f the student (death f an immediate family member; illness/injury resulting in excessive absences, nn-vluntary military activatin). The first time a student is suspended and an appeal is apprved fr nt meeting the verall cmpletin rate and/r nt earning the required cum GPA, the status will be changed t Prbatin. As part f the Prbatin prcess, the student is required t agree t, and sign, an Academic Plan. Students may als be required t btain the signature f an Academic Advisr n their Academic Plan. If the terms f Prbatin and the Academic Plan are nt met, this will result in a final suspensin, and the student will be ineligible t receive financial aid until the student returns t Gd Standing. - 16 -
Financial Aid Prbatin/Academic Plan: If the student s appeal f suspensin fr nt meeting the verall cmpletin rate and/r nt earning the required cum GPA is apprved, the status f Prbatin is given fr the next perid f enrllment fr a ne final pprtunity t demnstrate satisfactry academic prgress. As part f the Prbatin prcess, the student is required t agree t an Academic Plan. Students can cntinue t receive financial aid while n prbatin and the academic plan, even thugh they are nt in Gd Standing. Students n Prbatin and an academic plan will be reviewed at the end f the Prbatin semester t determine if they have returned t Gd Standing. If, at the end f the Prbatin semester, they have nt returned t Gd Standing, but have met the requirements f the Academic Plan, they will cntinue n Prbatin and the Academic Plan fr the subsequent semester f enrllment. As part f prbatin status, students will be required t agree t, and sign, an Academic Plan as designated by the cllege. The requirements f the Academic Plan will vary depending n yur specific academic histry: In general, students are apprved fr Prbatin will be required t successfully earn 100% f all future credits attempted and earn a 2.0 GPA in each subsequent semester f enrllment until they return t Gd Standing.. If at the time f Prbatin is being awarded, students have nt cmpleted the Develpmental Curse sequence required by the Cllege, they will be limited t 8 credits f enrllment in the immediate next semester and must enrll in at least ne f the Develpmental classes still utstanding. Students must successfully cmplete 100% f classes attempted and earn a 2.0 GPA during that semester. If all classes are successfully earned with a 2.0 GPA, then Prbatin will be cntinued and the student will be required t successfully earn 100% f all future credits attempted and earn a 2.0 GPA in each subsequent semester f enrllment until they return t Gd Standing. The Office f Financial Aid will assign the apprpriate Prbatin and Academic Plan based upn a review f each student s specific academic histry. Students enrlled in Certificate prgrams will be assigned an Academic Plan that meets the pace requirements required by the U.S. Department f Educatin. The Academic Plan will have t be signed and returned by the student prir t the reinstatement f financial aid, and thse students still needing t take Develpmental classes will need t have an Academic Advisr als sign the Academic Plan. Students will nt be allwed t change majrs while n an Academic Plan. Therefre, if a change f majr is cntemplated, it must be dne in cnjunctin with the signing f the riginal Academic Plan. The cllege reserves the right t cnduct an Administrative Review n a case-by-case basis if an appeal is denied, r when a student fails t meet the requirements f Prbatin and the Academic Plan if there was a significant ne-time unanticipated life changing event while n the Academic Plan causing the student t withdraw r fail classes during a prbatinary semester. Request fr an Administrative Review shuld be sent t the Financial Aid Services Office. - 17 -
Reinstatement frm Suspensin Students wh fail t maintain successful cmpletin rate and/r cum GPA as utlined n their Academic Plan will be suspended frm future financial aid and must return t Gd Standing prir t being eligible t receive financial aid in a future semester. Based upn the number f credits attempted and grades received, this culd mean a student suspended wuld have t pay fr a semester r several semesters f classes befre the student may becme eligible fr aid again. (Please nte: Reinstatement des nt pertain t the suspensin fr exceeding the maximum credit review.) Repeated Curses When repeating a curse, students may receive financial aid fr a curse if the previus grade was an F, FN, r W. (Please nte: Fr vcatinal curses, a student may nt receive financial aid fr repeated curses.) In additin, students may als receive financial aid fr a repeated curse if the initial grade earned des nt meet the pre-requisite requirement fr the next curse in the sequence. Students may nly receive financial aid fr a repeated curse nce. Develpmental/Remedial Curses A student may receive financial aid fr a maximum f 30 attempted develpmental credits. After the student has attempted 30 develpmental/remedial credits, any additinal develpmental/remedial credits taken by the student will nt be included in determining the enrllment status f the student fr financial aid. Nn-Credit Curses These curses are nt eligible fr Title IV assistance and d nt satisfy requirements f any Title IV eligible academic prgram. As such they are nt cnsidered in the Standards f Satisfactry Academic Prgress. Prir Baccalaureate Degree Students wh have cmpleted a baccalaureate r prfessinal degree frm an institutin, regardless f whether the institutin is unaccredited r a freign schl, are nt eligible fr federal r state grant funds. It des nt matter whether the degree is accepted r recgnized by Daytna State Cllege. Students wh have cmpleted a baccalaureate r prfessinal degree are nt eligible fr financial aid fr the AA degree. Cmpletin Rate Chart fr Successful Prgressin tward a Degree r Eligible Certificate by Term The chart belw demnstrates 67 percent cmpletin rate fr attempted hurs in a semester. The lefthand clumn is the attempted hurs, and the number f credits needed t be successfully cmpleted with at least a 2.0 GPA is in the right-hand clumn. Fr example, if yu register fr 11 credit hurs, yu must successfully cmplete 8 credit hurs with a 2.0 cum GPA r higher t meet the satisfactry academic prgress requirements fr the semester. Bth the 2.0 cum GPA and cmpletin rate f 67% applies t bth the semester and cumulative credit hurs n yur transcript. - 18 -
Earned Hurs Needed Credit Hurs (Passed with cum Attempted GPA f 2.0 r greater) 19 13 18 13 17 12 16 11 15 11 14 10 13 9 12 8 11 8 10 7 9 7 8 6 7 5 6 5 5 4 4 3 3 3 2 2 1 1 Student Withdrawal and Federal Requirements This plicy applies nly t students wh receive Federal student financial assistance under Title IV f the Higher Educatin Act. Types f assistance are the Federal Pell Grant, Federal Supplemental Educatinal Opprtunity Grant, Teacher Educatin Assistance fr Cllege and Higher Educatin Grant, Federal Direct Lan (subsidized and unsubsidized) and Federal Direct Parent PLUS Lan. A student wh withdrawals frm r stps attending curses prir t cmpletin f mre than 60 percent f the semester will be required t repay all r a percentage f the federal aid received. If a student plans t attend bth the A term and the B term, and withdraws frm all classes in the A term r withdraws frm all classes in the B term, he/she may be required t repay all r a percentage f the federal aid received. Fr example: A student wh withdraws frm all A term classes prir t cmpletin f mre than 60 percent f that term, and is registered fr B term classes, must cnfirm in writing at the time f withdrawal frm the A term that he/she des intend t enrll in the B term classes. If the student des nt submit this written cnfirmatin f the intent t enrll in the B term classes at the time f withdrawal frm the A term, the student will be cnsidered withdrawn fr financial aid purpses, and the student may be required t repay all r a percentage f the federal aid received. (Als, if the student cmpletes all classes frm the A term, but withdraws frm all classes frm the B term, the student will als be cnsidered withdrawn fr financial aid purpses, and the student may be required t repay all r a percentage f the federal aid received.) - 19 -
This may result in the student wing a balance t the Cllege and/r the federal gvernment. These funds are returned in a specific rder until each prgram is reimbursed up t 100 percent f the amunt received by the student fr that term. The distributin rder fr the return f funds is as fllws: Federal Direct Unsubsidized Lan Federal Direct Subsidized Lan Federal Direct Parent PLUS Lan Federal Pell Grant Federal SEOG Federal TEACH Grant Iraq Afghanistan Service Grant If determined by the calculatin, the student must repay the prtin f the riginal grant verpayment that is in excess f half f the ttal Title IV grant funds that he/she received r culd have received. The student des nt have t repay grant verpayments f $50 r less per prgram. Any repayment f Title IV lans is t be repaid under the cnditins f the existing prmissry nte. A student wh wes a grant repayment remains ineligible fr further Title IV financial aid until the grant is repaid, unless the student and the U.S. Department f Educatin agree n a satisfactry repayment arrangement. The U.S. Department f Educatin allws a student t retain eligibility fr 45 days frm the date that the institutin sends the repayment ntificatin t the student. After 45 days, the student will either have t pay the verpayment in full r make satisfactry arrangements with the U.S. Department f Educatin t repay the verpayment t retain eligibility fr Title IV financial aid. Unpaid balances will result in a hld n the student s recrds, diplmas, transcripts, and future registratin activity. Furthermre, these debts may be referred t an utside cllectin agency and t apprpriate credit bureaus. Resulting cllectin csts will be added t the riginal debt and the student must pay these csts, as well as attrney s fees, if applicable. Please feel free t cntact the Financial Aid Services Office at 386-506-3015 r email us at financialaid@daytnastate.edu if yu have any questins regarding financial aid. - 20 -
NOTE: After the 2014 Flrida Legislative sessin has cncluded, we will prvide any changes r updates t the Bright Futures Schlarship prgram. 2013 Flrida Legislative Bright Futures Updates The 2013 Flrida Legislative Sessin resulted in changes t the Flrida Bright Futures Schlarship Prgram effective July 1, 2013. Additinal infrmatin regarding the changes, as well as ther Bright Futures infrmatin, is available at http://www.flridastudentfinancialaid.rg/ssfad/bf 1. Students are n lnger required t submit a FAFSA fr the Bright Futures Schlarship. 2. Bright Futures award amunts fr the 2013-2014 academic year Bright Futures recipients cntinue t receive a fixed cst per credit hur award based n their Award Level Flrida Academic Schlar (FAS), Flrida Medallin Schlar (FMS), Flrida Gld Seal Vcatinal Schlar (GSV), r Academic Tp Schlar (ATS) Institutin Type 4-year, 2-year, r Vcatinal/Technical, and Credit Type Semester, quarter, r clck hur The 2014-2015 award amunts are nt yet available n the Bright Futures web site. 3. Bright Futures recipients must repay the cst fr curses drpped r withdrawn Students will cntinue t be required t repay the cst f any Bright Futures funded curse drpped r withdrawn (after the end f the drp/add perid) unless an exceptin is granted by the financial aid ffice at their hme pstsecndary institutin. Repayment fr the cst f drpped r withdrawn curses is required t renew a Bright Futures award at the end f the spring term fr a subsequent academic year. 4. Restratin fr students wh lse their Bright Futures Schlarship Beginning with 2009-2010 high schl graduates and thereafter, these students will be permitted a ne-time restratin pprtunity fr their Bright Futures schlarship if it is lst due t insufficient GPA in the first year f funding. Students wh fail t meet the minimum GPA requirement after the first year f funding will nt renew and will nt be permitted a restratin pprtunity, and will be terminated frm the schlarship prgram. Beginning with 2009-2010 high schl graduates and thereafter, these students are terminated frm the schlarship if the award is lst due t insufficient hurs. 5. Maximum funding f Bright Futures Schlarship Beginning with 2009-2010 high schl graduates and thereafter, students may receive funding f the Bright Futures schlarship fr up t100% f the required hurs fr their prgram f study. (Students wh graduated frm high schl prir t this may receive the Bright Futures schlarship fr up t 110% r the required hurs fr their prgram f study.) - 21 -
6. Career Educatin Prgrams fr Gld Seal Vcatinal Schlars Beginning with 2011-2012 high schl graduates, Gld Seal Vcatinal Schlars may be funded fr up t 100% f their prgram f study in Career Educatin Prgrams, which include: Technical Degrees and Certificates: Assciate f Science degrees (AS), Assciate f Applied Science degrees (AAS), and Cllege credit certificates Career Certificates r Diplmas: PSAV (vcatinal) Certificates r Diplmas and Applied Technlgy Diplmas (ATD) Students may be funded fr up t 72 semester hurs (r 2,160 clck hurs) except in the Applied Technlgy Diplma (ATD) where they are limited t 60 semester hurs (r 1,800 clck hurs). Students may be funded in additinal certificates, diplmas, and/r degrees as listed abve up t the maximum hurs f funding allwed. [Fr example: If students finish an ATD and transfer int anther eligible prgram, they are eligible t be funded up t 72 semester hurs (r 2,160 clck hurs).] 7. Renewal criteria fr Bright Future recipients Bright Futures recipients are required t meet minimum credit hur requirements t renew their award each year. The Flrida Legislature amended Sectin 1009.532 (1)(a), Flrida Statutes, t require full-time students t earn at least 24 semester hurs, r the equivalent in quarter r clck hurs, t renew their award (prrated fr part-time students). The chart belw utlines the credit hur requirement fr students funded in 2011-2012 and thereafter. Bright Futures Credit Hur Renewal Requirements Institutin Term Type Credit Hur Type Student Funded (per term) 12+ Hurs (Full-Time) Semester Hur 9-11 Hurs (Three-Quarter Time Required Earned Hurs (per term) 12 9 Semester 6-8 Hurs (Half-Time) 360+ Hurs (Full-Time) 6 360 Clck Hur 270-359 Hurs (Three-Quarter Time) 180-269 Hurs (Half-Time) 270 180-22 -
Students are required t meet the minimum credit hur requirement fr the academic year based n the terms funded. Fr example, a student funded full-time (12+ hurs) fr tw terms in a semester hur institutin must earn a minimum f 24 semester hurs and the required GPA t be eligible fr renewal. Students with different enrllments (full-time, three-quarter time, r half-time) during an academic year must earn the required hurs that crrespnd t their enrllment fr each term. Fr example, a student enrlled at a semester hur institutin at 15 hurs (full-time) fr the fall term and 8 hurs (half-time) fr the spring term is required t earn a minimum ttal f 18 semester hurs (12 hurs fr the fall term + 6 hurs fr the spring term) and the required GPA t be eligible fr renewal. A student funded fr tw terms at a quarter hur institutin fr 15 hurs in the first term and 12 hurs in the secnd term must earn a minimum ttal f 24 credit hurs (12 hurs fr the first term + 12 hurs fr the secnd term) and the required GPA t be eligible fr renewal. A student funded fr 240 clck hurs fr nly ne term at a quarter semester institutin must earn 180 clck hurs and the required GPA t be eligible fr renewal. - 23 -