What is financial aid?
Financial aid is money from a source other than the family to assist with the cost of attending Vernon College. Most students receive financial aid from one or more of the following sources to help pay for their educational expenses:
How do I apply?
Complete a Free Application for Federal Student Aid (FAFSA) online at www.fafsa.gov. In order to electronically sign your application, you should apply for a PIN number at www.pin.ed.gov. If a parent is required to sign the FAFSA, one parent must also apply for a PIN number.
Do I need a PIN number?
No, you do not need a PIN number to apply for financial aid, but the PIN number will allow the processor to expedite your application. It will provide you additional options such as signing your application electronically, checking the status of your application online and making corrections to your application online. If you choose to take a student loan in the future, the PIN number can also be used as your electronic signature on that agreement. If you do not use a PIN number for electronic signature then you MUST print the application signature page and mail it to the processor, which could significantly delay the processing of your application.
How soon should I apply if I want to attend VC during the 2014-2015 school year (Fall 14 – Summer 15)?
The earliest date is January 1 prior to the academic year you plan to attend. For example, January 1, 2014 was the first day you could apply for financial aid for the 2014-2015 school year. The earlier you apply, the better, as some resources are limited and may run out. We encourage all students to apply as soon as they complete their 2013 income tax return.
What if neither I nor my parents will file an income tax return?
Then you may complete and submit your FAFSA as soon as you wish. There is a space for you to indicate that you will not be filing an income tax return.
What is the Title IV code for Vernon College?
The Title IV school code for all campuses is 010060.
Will I need to fill out other forms in addition to the FAFSA to receive financial aid?
If you are selected for a process called verification or if conflicting information exists, the financial aid office may need additional documentation to complete your file and you may need to fill out and/or supply additional forms to receive financial aid. The Financial Aid Office will inform you of any documentation you need to complete. Students can go to MyVC and check the status of their financial aid. Most forms are available at http://www.vernoncollege.edu/FINAID/Forms.aspx You will also need to complete an admission application and have your high school or GED transcript on file in the Registrar’s Office. If you have been to any other college, university or trade school, you must also have current academic transcripts from those schools on file in the Registrar’s Office.
Do I have to reapply for financial aid every year?
Yes, you must reapply for financial aid for every award year. The 2014-2015 FAFSA will cover the Fall 2014 through Summer 2015 semesters. Renewal of your financial aid package also depends on you making satisfactory academic progress.
What is satisfactory academic progress?
Students who receive federal and/or state financial aid must demonstrate satisfactory academic progress in order to remain eligible. The student’s academic record at VC is used to measure satisfactory progress and all periods of enrollment at VC must be counted, including any semesters in which the student did not receive financial aid. Some financial aid programs have additional satisfactory academic progress requirements.
What happens after I apply?
Once your FAFSA is processed, you will receive a Student Aid Report (SAR). That is what the government sends to you and VC once you have submitted your application. The SAR lets us know if you may be eligible to receive a Pell Grant. On the SAR is an EFC number. The EFC, or Expected Family Contribution, is what the federal government has determined your family can contribute to your education. Your award will be based on this EFC number. The award information displayed after your submit your FAFSA is an estimation of your potential eligibility and in no way is a guarantee of your eligibility for financial aid. Your final eligibility is determined by the financial aid office.
How long is the application process?
Applications are processed in the date order they are received from the federal processor. Be patient, the process of applying for aid can take time. The application review and awarding process can take several weeks, even months, to process especially during peak summer months.
How will I know how much I have been awarded?
After your application information is confirmed and eligibility determined, you will receive an award notification via your VC student email account. Please activate your VC email account if you have not done so. Award information is also available thru Campus Connect.
I noticed my award letter is for full-time enrollment. What happens if I enroll less-than-full-time?
You awards may be decreased. If you would like to know your grant awards for less-than-full-time enrollment, use the following percentages to get an approximate award amount: three-quarter time students multiply the award by 75%, half-time students multiply the award by 50% and less-than-half-time students multiply the award by 25%. Not all students that qualify for a Pell Grant at full-time enrollment, will qualify for one at less-than-full-time.
How do I determine my enrollment status?
A full-time student is enrolled in 12 or more hours. A three-quarter time student is enrolled in 9-11 hours. A half-time student is enrolled in 6-8 hours. A less-than-half-time student is enrolled in 1-5 hours. Courses the student enrolls in for the second compressed course (Fall II, Spring II or Summer II) will be excluded from the students enrollment status until balance checks for the Fall, Spring and/or Summer semester have been disclosed. Repeated courses will be included in determining course load as long as the repeated course is not the result of more than one repetition of a previously passed course.
When does the financial aid office determine my enrollment status?
The amount of financial aid a student receives is based on his or her enrollment status on the day after the census date, and awards will be adjusted accordingly. If the student enrolls in a compressed semester (Fall I or Fall II, Spring I or Spring II, or Summer I or Summer II) or in a minimester that is included as part of the previous semester (December or May mini) the student’s final enrollment status for determining grant eligibility that semester, is the day after the census date for the semester of the last course taken. If a student drops, withdraws from or adds a class on or before the census date, the student’s enrollment status will be adjusted and the student’s grant aid recalculated. Recalculations will include both increases and decreases in enrollment up to the day after the census date of the student’s last class.
How will I get my money?
All grants, loans and scholarships are electronically credited to your student account and can be applied toward your tuition and fees, book and dorm charges.
What if I still have a balance on my account after all of my institutional charges are paid?
Financial aid balances will be placed on the student’s Chaparral Card unless the student has designated a different direct deposit account. Students who do not have a Chaparral Card or who do not designate a direct deposit account will be mailed a check.
When will I receive my balance?
They will be disbursed by the business office within 30 days after the beginning of the semester. Exact disbursement dates will be posted on the VC Financial Aid webpage.
I did not pass the THEA test or ACCUPLACER test. Will financial aid play for remedial classes?
Financial Aid will pay for 30 hours of remedial coursework. Remedial hours attempted beyond the 30 hour limit will not be included in course load for determining enrollment status.
Will financial aid pay for all the classes I want to take?
In order to receive financial aid, you must be taking classes that work toward a degree or certificate offered at VC. If a student is enrolled in courses that do not count toward their degree or certificate, they can not be included in course load for determining enrollment status.
What happens if I withdraw from school?
Federal regulations require a portion of the student’s financial aid be returned if the student withdraws or stops attending before completing over 60% of the semester. This could result in you owing money to VC and or the federal government. The required calculation is based on the date the student began the withdraw process, the student’s last date of attendance at an academically related activity or midpoint of the semester for a student who leaves without notifying VC.
What are the eligibility requirements?
There are several general eligibility requirements financial aid recipients must meet. A financial aid recipient must: be a US citizen or an eligible non-citizen; be registered with selective service (if required); maintain satisfactory academic progress; be enrolled in an eligible program and working toward a degree or certificate offered at VC; not be in default on a student loan or owe a refund on any educational grant; and not have a conviction for violating any federal or state drug possession or sale law while the student was receiving federal student aid.
What if I have a drug conviction?
A drug-related conviction does not necessarily make you ineligible for financial aid. Call 1-800-433-3243 or go tohttp://www.fafsa.gov to find out if you are eligible.