AVAILABLE FINANCIAL ASSISTANCE - Vernon College (VC) participates in several Federal, State, private and institutional student financial assistance programs. These programs include both need-based and non-need-based programs. For determination of need-based Federal or State Financial Aid eligibility, the Free Application for Federal Student Aid (FAFSA) must be completed annually. A formula is applied to the information provided by the student on the FAFSA. Congress established this formula, which determines the student's financial need. The formula result is called the Expected Family Contribution (EFC) and is produced on the Student Aid Report (SAR). Once the financial aid office receives the SAR, the financial aid office will then request from and/or provide the student with any additional required forms. The EFC indicates how much money the student's family is expected to contribute toward the student's cost of attendance. In order to qualify for need-based financial assistance the student must have financial need. Financial need is defined as the difference between the student's cost of attendance (determined by the Director of Financial Aid and the basic components consist of an average cost for tuition and fees, room and board, books and supplies, transportation, personal and miscellaneous expenses) and the student's EFC, Pell Grant eligibility and aid from other sources. Student's who do not have financial need do not qualify for need-based financial assistance.
The financial aid programs available at VC are administered according to the laws and guidelines of each program. Essentially, eligibility requirements are the same for all Federal and State financial aid programs. Recipients of financial assistance must:
1. Be a U.S. citizen or an eligible noncitizen and have a valid social security number;
2. Be registered with Selective Service if a male who is at least 18 years old and born after December
31, 1959, unless you are not required to register;
3. Have a high school diploma or GED certificate;
4. Be enrolled or plan to enroll at least part-time as a regular student in an eligible program. The Pell
Grant and Supplemental Educational Opportunity Grant programs will permit eligible students to
enroll less than half time and still qualify for assistance;
5 Be working toward a degree or certificate;
6. Maintain satisfactory academic progress in a course of study;
7. Not be in default on any loan or owe a refund on any grant made under Title IV of the Higher
Education Act of 1965, as amended, at any institution; and
8. Not have a conviction for violating any federal or state drug possession or sale law while receiving
The U.S. Department of Education frequently changes regulations pertaining to financial aid. Since VC attempts to comply with all legislative mandates and federal regulations, the financial aid office reserves the right to make policy and procedure changes during the award year. If changes occur, they will be posted in the Financial Aid Office.
VC participates in the following Federal and State financial assistance programs:
PELL GRANT - The Federal Pell Grant is a federal program for undergraduate students obtaining his/her first bachelor’s degree and is designed to provide eligible students with a foundation of aid to help defray the cost of education. It is always the ﬁrst program considered for each applicant. Although the Financial Aid Office determines the amount of each student’s Pell Grant, eligibility is determined on the basis of a formula developed by the U.S. Department of Education. The Pell Grant amount depends on the student’s expected family contribution, the cost of attendance at VC and the number of hours for which the student is enrolled (full-time, three-quarter time, half-time, less than half-time). A student may be ineligible for a Federal Pell Grant; however, he or she may qualify for other ﬁnancial assistance. The Federal Pell Grant is to be used solely for educational purposes, which includes tuition, fees, room, board, books, supplies, transportation, and miscellaneous expenses. In order to receive a Pell Grant, the Department of Education must have processed a valid student aid report (which is the result of ﬁling the FAFSA form) with an official expected family contribution while an eligible student is enrolled for the award year. Veriﬁcation documents (if applicable) must be received and be accurate no later than 120 days after the last day of enrollment or the Department of Education’s published deadline, whichever is earlier. A student’s duration of Pell eligibility is limited to the equivalent of 12 full-time semesters.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (FSEOG) - The FSEOG is awarded to ﬁrst time undergraduate students with the lowest estimated family contributions who are also receiving Federal Pell Grants and have ﬁnancial need. Awards are based on the student’s enrollment and are made in accordance with program regulations and on a ﬁrst come, ﬁrst served basis.
TEXAS PUBLIC EDUCATIONAL GRANT PROGRAM (TPEG) -
The TPEG program is funded from tuition paid by credit students attending VC. The applicant must be enrolled at least half-time during the term or terms for which the grant is awarded and have ﬁnancial need. This grant is awarded on a ﬁrst come, ﬁrst served basis, and the amount is based on the student’s enrollment.
TOWARD EXCELLENCE, ACCESS AND SUCCESS GRANT (TEXAS GRANT) - The TEXAS grant is awarded to Texas residents who were previous recipients of an initial year TEXAS Grant prior to Fall 2014 and are enrolled at least three-quarter time and meet the following eligibility requirements: have ﬁnancial need and an expected family contribution that is equal to or less than the cap as determined by the Texas Higher Education Coordination Board; do not have a felony conviction involving a controlled substance; do not have a bachelor's degree and are registered with selective service (if required). Continuing eligibility requires the student to have a financial aid cumulative GPA of 2.5 or higher and complete at least 24 semester credit hours in his or her most recent academic year. The maximum TEXAS grant award, as determined by the Texas Higher Education Coordinating Board, is the average statewide amount of in-district tuition and required fees. In order for eligible recipients to receive a renewal award for the 2016-2017 school year, they must complete their financial aid file by January 1, 2017. Students who fail to meet this deadline cannot be guaranteed a renewal award, No new initial year TEXAS Grant awards will be made as funding for this program has been discontinued.
TEXAS EDUCATIONAL OPPORTUNITY GRANT (TEOG) -
The TEOG Grant is awarded ﬁrst come, ﬁrst served to Texas residents who are enrolled at least half-time and meet the following eligibility requirements: have ﬁnancial need and have an expected family contribution that is below the cap as defined by the Texas Higher Education Coordination Board; are registered with selective service (if required); and have not been convicted of a felony or crime involving a controlled substance. Initial recipients must be enrolled in the first 30 hours of an associate's degree or certificate program and must meet Vernon College's satisfactory academic progress standards. Continuing eligibility requires the student to have a financial aid cumulative GPA of 2.5 or higher and a 75% successful completion rate in his or her most recent academic year. The maximum timeframe for receiving the grant is the first of: 4 years from the start of the semester in which the student received the first award through the program; 75 semester credit hours attempted while receiving the grant; or completion of an associate degree. The maximum TEOG Grant is determined by the Texas Higher Education Coordinating Board. Award amounts will be prorated in relation to the student's enrollment status on the day after the census date.
COLLEGE WORK-STUDY EMPLOYMENT PROGRAMS - Both the Federal and State College Work-Study Programs provide jobs on campus for undergraduate students with demonstrated financial need who must or prefer to work while in school in order to meet their educational expenses. Work hours are flexible and generally fit the student's class schedule. Students are paid the prevailing minimum wage twice monthly. Each work-study student is awarded an amount that cannot be exceeded. Once the student's award is earned, employment is terminated. Employment through the College Work-Study Program does not make the student eligible for unemployment compensation when the job is terminated and/or the school term ends. Students in the state work study program must be enrolled at least half-time. Eligible students should apply for work-study by completing an application for work-study employment in the financial aid office. Job notices are posted in the financial aid office and on the VC financial aid homepage. The student is responsible for scheduling interviews with supervisors of jobs in which they are interested.
William D. Ford Federal Direct Student Loan Program (Direct) - The William D. Ford Direct Subsidized and Unsubsidized Loan is a fixed interest rate loan made to a student who is enrolled half-time in an eligible program. The lender is the U.S. Department of Education. Repayment begins six months after a student leaves school or drops below half-time enrollment. The subsidized loan is a need based program and the government pays the interest while the student is enrolled at least half-time. The subsidized loan is the best, first choice for students looking to borrow money for their education. Unsubsidized loans are not need based; therefore, students are not required to demonstrate financial need. Interest accrues on an unsubsidized loan from the time is first paid out. Federal regulations limit the benefits of the direct loan subsidy to an aggregate period of no more than 150% of program length and applies only to first-time borrowers as of July 1, 2013. Once that limit has been exceeded, a student may borrow only unsubsidized loans, and will begin to incur interest charges on outstanding subsidized loans. Before the loan enters repayment, the student will receive a repayment schedule which outlines the total principal, amount of interest expected to accrue over the life of the loan, monthly payment amount and the date the payment is due. With the standard repayment plan the maximum repayment is ten years and the minimum payment will be at least $50.00 per month but may be higher, depending on the outstanding balance. For example: Student borrows $3,000 the first year, $4,500 the second year for a total of $7,500.
This student will pay approximately $85.00 per month for 120 months on a regular ten year repayment plan. Extended, graduated, income contingent and income based repayment plans are also available repayment options. Repayment of the principal balance may be postponed through different types of deferments or a forbearance. Student loans must be repaid. Failure to do so will result in severe consequences. If a student fails to repay their student loan, the student will be referred to the Federal Government for collection.
A dependent student can borrow combined subsidized and unsubsidized loans not to exceed the annual loan limits. The loan limits are $3,500 per year for freshmen and $4,500 per year for sophomores. Independent students may borrow additional unsubsidized loans not to exceed $6,000. Dependent students may borrow additional unsubsidized loans to exceed $2,000. The actual amount the student is eligible to borrow is determined by the financial aid office and may be less than the maximum amount. There are also aggregate limits on the total amount a student can borrow. For loan purposes, a student's classification will be determined by the number of hours completed towards his or her selected degree or certificate at the time of initial certification. A student's classification will not be reevaluated until the beginning of the next academic year (fall through summer). A student who transfers in the middle of an academic year and has received his or her annual loan limit while at the transfer institution will not be eligible for a loan until the beginning of the next academic year. In accordance with federal regulations, VC has the right to refuse to certify a loan or to certify for a reduced amount.
Federal regulations require that students interested in the loan program must complete the Free Application for Federal Student Aid and provide the Financial Aid Office any other requested documentation. Interested students must accept or decrease their awarded student loan amounts via the on-line acceptance feature that is available thru MyVC. Once accepted, students must complete entrance loan counseling and the Master Promissory Note process that is available at www.studentloans.gov. Exit loan counseling and testing are required before the student ceases at-least-half-time enrollment. Once the student completes entrance counseling, exit counseling and /or the MPN process, confirmation is sent to the VC Financial Aid Office.
A school must ensure that exit counseling is conducted with each Direct Loan borrower either in person, by audiovisual presentation, or by interactive electronic means. In each case, the school must ensure that this counseling is conducted shortly before the student borrower ceases at least half-time study at the school, and that an individual with expertise in the title IV programs is reasonably available shortly after the counseling to answer the student borrower's questions. As an alternative, in the case of a student borrower enrolled in a correspondence program written counseling materials may be provided b mail within 30 days after the student borrower completes the program. If a student borrower withdraws from school without the school's prior knowledge or fails to complete an exit counseling session as required, the school must ensure that exit counseling is provided through either interactive electronic means or by mailing written counseling materials to the student borrower at the student borrower's last known address within 30 days after learning that the student borrower has withdrawn from school or failed to complete the exit counseling as required. The exit counseling must inform the student borrower of the average anticipated monthly repayment amount based on the student borrower's indebtedness or on the average indebtedness of student borrowers who have obtained Direct loans, PLUS Loans, or student borrowers who have obtained both Stafford and PLUS loans, depending on the types of loans the student borrower has obtained, for attendance at the same school or in the same program of study at the same school. Exit counseling must also review for the student borrower available repayment options, including standard, graduated, extended, income sensitive and income-based repayment plans including a description of the different features of each plan and sample information and total payments under each plan. Exit counseling also explains to the borrower the options to prepay each loan, to pay each loan on a shorter schedule, and to change repayment plans. Exit counseling provides information on the effects of loan consolidation including, at a minimum, the effects of consolidation on total interest to be paid, fees to be paid, and length of repayment: the effects of consolidation on a borrower's underlying loan benefits, including grace periods, loan forgiveness, cancelation, and deferment opportunities; the options of the borrower to prepay the loan and to change repayment plans; and that borrower benefit programs may vary. Exit counseling must include debt-management strategies that are designed to facilitate repayment; describe the likely consequences of default, including adverse credit reports, delinquent debt collection procedures under Federal law, and litigation; provided a general description of the terms and conditions under which a borrower may obtain full or partial forgiveness or discharge of principal and interest, defer repayment of principal or interest, or be granted forbearance on a title IV loan, including forgiveness benefits or discharge benefits available to a FFEL borrower who consolidates his or her loan into the Direct Loan program; and a copy, either in print or by electronic means, of the information the Secretary makes available pursuant to section 485(d) of the HEA. During exit counseling, student loan borrowers are required to provided current information concerning name, address, social security number, references, and driver's license number and State of issuance, as well as the student borrower's expected permanent address, the address of the student borrower's next of kin, and the name and address of the student borrower's expected employer (if known). The school must ensure that this information is provided to the guaranty agency or agencies listed in the student borrower's records within 60 days after the student borrower provides the information. Exit counseling will also review for inform the student borrower information on the availability of the Student Loan Ombudsman's office and inform student borrower of the availability of the IV loan information in the National Student Loan Data System (NSLDS) and how NSLDS can be used to obtain general description of the types of tax benefits that may be available to borrowers. If exit counseling is conducted by electronic interactive means, the school must take reasonable steps to ensure that each student borrower receives the counseling materials, and participates in and completes the counseling.
Borrows have a right to cancel all or a portion of the loan or loan disbursement and have their proceeds returned to the federal government. VC will send a notice to the borrower no earlier than 30 days before and no later than 30 days after the school credits the students account. The notice will include the method and date by which the borrower must notify the school that he or she wishes to cancel all or a portion of the loan or loan disbursement.
VC does not participate in the Perkins Loan, Hinson-Hazlewood Loan Program, HEAL Loan Program, HELP Loan Program and the CAL Loan Program.
FEDERAL DIRECT PARENT LOAN for UNDERGRADUATE STUDENTS (PLUS) - The Direct Plus loan is a fixed interest loan created by the Federal government to help creditworthy parents pay for their dependent student's education beyond high school. Federal Plus loans are not restricted to a student's financial need and can help pay for educational expenses up to the cost of attendance minus all other financial assistance. The U.S. Department of Education will perform a standard credit check with a national credit bureau before approving the loan. If approved, the parent is responsible for paying the principal amount of the loan and all interest that accrues from the date of disbursement until the loan is paid in full. Repayment begins within 60 days after the loan is fully disbursed. However, the parent, upon his or her request, can defer payments on a PLUS loan if the student is enrolled at least half-time. The loan amount may not exceed the dependent student's cost of attendance minus other financial aid awarded for the loan period. If the student's parents are determined to have an adverse credit history, the student may still receive a Direct PLUS loan if they obtain an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS if the student/parent does not repay the loan. If a student's parents cannot obtain a Plus loan, the student is allowed to borrow additional unsubsidized Stafford money. The student must be enrolled at least half-time to receive a Plus loan. To determine a students eligibility for a PLUS loan, the student must complete the Free Application for Federal Student Aid. In addition, a complete financial aid file is required before a Plus loan will be certified. Interested students must print a PLUS Certification/Authorization form and a PLUS Request form.
ALTERNATIVE LOANS - Numerous lenders offer other types of variable rate educational loans for creditworthy students. Alternative loans are provided without consideration of financial need. These loans are not part of the federal government loan programs--they are credit based and may require a cosigner. Alternative loans are generally more expensive than federal loans and should only be used when all other options have been exhausted. A complete financial aid file is required before VC will certify an alternative loan application. Due to less favorable repayment options, VC will not certify a alternative loan for any student that has Direct loan eligibility. Alternative loans will follow the same disbursement policies as subsidized and unsubsidized loans.
INSTITUTIONAL SCHOLARSHIPS - Applications for institutional, endowed and private scholarships are available at www.vernoncollege.edu. Most institutional scholarships are non-need-based. In order to develop a more scholarly student body and in order to place emphasis on achievement, the VC Scholarship Committee awards scholarships to full-time students in the following categories:
SCHOLASTIC/ENDOWED - Awarded to Students to have exhibited outstanding scholastic ability in high school and/or college, based on criteria established by the donor. First year applicants must have achieved a 3.0 grade point average or its equivalent in high school and/or college. For second year consideration, applicants must have earned a 3.0 grade point average in college.
LEADERSHIP - Awarded to students who have demonstrated outstanding leadership ability in student government at VC.
FINE ARTS - Awarded to students who have shown outstanding ability in the areas of performing arts (drama/music.) Drama recipients must enroll in Rehearsal and Performance. Music recipients must enroll in Vocal Ensemble.
ATHLETIC/TEAM - Awarded on a competitive basis to students who participate in the following programs: men's baseball, rodeo, women's volleyball, women's fast pitch softball and athletic training.
PRIVATE - Awarded to students based on the criteria established by the donor. Recipients are generally selected by the department who received the scholarship.
PASS-THRU - These scholarships are not awarded by VC but rather by community service organizations, churches, schools, corporations, employers, etc. The scholarship will not be posted to the student's account until VC receives the check from the donor.
TUITION EXEMPTIONS - The following tuition exemption programs are administered through the Texas Higher Education Coordinating Board: children of certain disabled or deceased public employees, deaf and blind students, children of prisoners of war or persons missing in action, students in foster care, valedictorian of any accredited high school in Texas, children of professional nursing program faculty and staff, Clinical preceptors and their children and firefighters taking fire science courses. Some tuition exemptions are need-based. Eligible students should contact the Texas Higher Coordinating Board for more information.
Vernon College is an approved training institution for VA education benefits. The Veterans Services Office at Vernon College assists eligible servicepersons, veterans and their dependants in obtaining assistance and information on educational benefits while attending our institution. The programs under the Department of Veterans Affairs include:
• Chapter 30 - Montgomery GI Bill Active Duty Educational Assistance Program
• Chapter 31 - Vocational Rehabilitation Program
• Chapter 32 - Post Vietnam Era Veterans Educational Assistance Program (VEAP)
• Chapter 33 - Post 9/11 GI Bill
• Chapter 35 - Survivors’ and Dependents’ Educational Assistance Program
• Chapter 1606 - Montgomery GI Bill for Selected Reserve
Information regarding requirements for all educational programs can be found at http://www.benfits.va.gov/gibill/ Applications for the benefits are available at this VA web site or from the Vernon College VS Office. Applications should be submitted directly to the Department of Veterans Affairs.
Additional Information regarding the use of VA benefits at Vernon College is available in the Vernon College Handbook for Veterans. This document may be obtained in the Vernon College VS Office or on line at Vernon College Handbook for Veterans.
The purpose of the Hazlewood Exemption (Hazlewood Act) is to provide an education benefit to honorable discharged or separated Texas veterans and their dependent children and spouses. More information is available at http://www.tvc.texas.gov/Hazlewood-Act.aspx. All students using Hazlewood benefits must make satisfactory academic progress toward a degree or certificate or other formula funded programs in accordance with the institution's policy regarding eligibility for financial aid.
The Hazlewood Exemption helps fund an eligible student's education costs. The exemption covers tuition and institutional fees. It does not cover any lab or special fees for individual courses The required Hazlewood paperwork must be submitted each semester to the Veterans Services Office at Vernon College in order to receive the exemption prior to the last class date of each semester. Instructions are available at the Vernon College Veterans Services Office or on line at Hazelwood Exemption Instructions.
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. Enrollment status will be determined according to the following: Full-time - 12 semester hours or more; Three quarter-time - 9-11 semester hours; Half-time - 6-8 semester hours; Less than half-time 1-5 semester hours. Courses the student enrolls in for the second compressed course (Fall II, Spring II or Summer II) will be excluded from the student's enrollment status until balance checks for the Fall, Spring and/or Summer semester have been disbursed. There is a 30 semester hour limit for remedial coursework for any individual student. Remedial hours attempted beyond the 30 hour limit will not be included in course load for determining enrollment status. 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. Courses that do not count toward a student's degree or certificate, with the exception of remedial courses, can not be included to determine his or her enrollment status. If the student enrolls in a compressed semester (Fall I or Fall II, Spring I or Spring II, Summer I or Summer II) or in a minimester that is included as part of a 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 census date of the student's last class.
DISBURSEMENT OF AWARDS - All grants, loans and scholarships are electronically credited to a student's account and can be applied toward the student's tuition and fees, book and dorm charges. Students do have the option to decline to electronically credit their account with their book charges. The student may also provide written authorization to charge minor prior year institutional charges of $200 or less, or any other educationally related cost to their financial aid account. Grant, scholarship and loan balances will be disbursed by the Business Office within 30 days after the beginning of the semester. Grant, scholarship and loan balances for students enrolled in the second compressed semester (Fall II, spring II and Summer II) will be disbursed within 30 days after the beginning of that semester. As per federal regulations, Direct loans are issued to students in multiple disbursements. Generally this means students will receive equal portions of their loan each semester, except if their loan is only one semester in length. If one semester then generally the loan will be split into two disbursements in that semester. Also, as per federal regulations, the first disbursement of a student loan to a first-year, first-time borrower must be held for at least 30 days. Exact disbursement dates will be posted on the VC Financial Aid webpage. For students who complete their file after the semester is completed, their award will be based upon their final enrollment status and will include only courses completed (includes earned F's, in progress and incompletes), and dropped classes or withdraws will not be included in determining enrollment status. The business office disburses balances at least twice monthly. Financial aid balances will be place 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. Any financial aid awards will first be applied to the balance due Vernon College before being issued to the student. Students who fail to establish eligibility, don't begin attendance in each class or don't attend their classes thru count day, will have their financial assistance reduced or canceled.
Students employed through the work-study program are paid twice monthly. Time sheets must be submitted on the appropriate dates each month in order to receive a paycheck. Student's who fail to submit their time sheet by the designated date, will not receive payment until the following pay period.
SATISFACTORY ACADEMIC PROGRESS -Students who receive federal and/or state funds administered by the Vernon College (VC) Office of Financial Aid, must demonstrate satisfactory academic progress. The VC Financial Aid Satisfactory Academic Progress policy is separate and stricter than VC Admissions and Records academic standards. Coursework attempted and grades earned in semesters forgiven through the state of Texas’ "Academic Fresh Start" program will be included in the satisfactory academic progress calculation. The student’s Financial Aid Transcript that is located in Campus Connect under the Account Information option, and not the VC academic transcript, is the transcript used for all satisfactory academic progress calculations. The financial aid cumulative GPA and the number of hours attempted and earned could be different than the student’s academic cumulative GPA and number of hours attempted and earned. All periods of enrollment at VC must be counted, including any semester in which the student did not receive financial aid. Students who do not have a VC academic history (first time college enrollment or incoming transfer students) will be assumed to be making satisfactory progress at the time of first enrollment. There are three standards for satisfactory progress: qualitative, quantitative and maximum time frame.
QUALITATIVE – The qualitative measure evaluates the quality of academic work using standards measureable against a norm. Students must maintain a cumulative GPA of at least 2.0. Grades of A, B, C, D, F and WF contribute toward the GPA. Grades of W, P, I, AU and U do not. All grades, including developmental coursework and repeated courses, are included in the student’s GPA. Transfer grades are not included in the GPA calculation
QUANTITATIVE – The quantitative measure is the pace of completion required to make sure the student completes within maximum timeframe. Students must have a successful pace of completion rate that is at least sixty-seven (67%) percent of all courses attempted at VC. This includes both developmental and college-level coursework. Successful completion is measured by grades of A, B, C, D, and P. Grades of F, W, WF, U, I, and AU are counted toward the total hours attempted but not successfully completed. Repeated courses are included in the pace of completion calculation. Pace of completion is calculated by dividing the cumulative number of hours the student has successfully completed by the cumulative number of hours the student has attempted. At VC, for financial aid purposes, being enrolled in a course for credit beyond the official census date counts as an attempt. The VC Office of Financial Aid will use standard rounding rules when calculating percentages under the quantitative measurement.
MAXIMUM TIMEFRAME – Federal regulations specify that the maximum time frame for program completion may not exceed 150 percent (150%) of the published length of the program. Time frame is measured by the number of credit hours attempted. If the student switches degree or certificate programs, VC will not count toward the one hundred fifty (150%) percent maximum time frame the credits attempted in the old major. However, any courses that apply to the new program must be counted. For transfer students, VC will count accepted transfer credits that apply toward the new or current program in the maximum timeframe calculation. Students who exceed the one hundred fifty (150%) percent maximum time frame limit will no longer be eligible for financial aid. Developmental classes do not count toward the one hundred fifty (150%) percent maximum time frame. Credits that have been repeated will be counted toward the one hundred fifty (150%) percent maximum time frame. Once it is determined that it is mathematically impossible for the student to complete his/her program within the maximum time frame, the student immediately becomes ineligible for aid.
FAILURE TO MAINTAIN SATISFACTORY PROGRESS:
FINANCIAL AID WARNING - Students who fail to meet one or more of the satisfactory academic progress standards will be placed on financial aid warning status for their next semester of enrollment. A student on financial aid warning will be eligible to receive financial aid. If the satisfactory academic progress standards are met at the end of the warning semester, the warning status will be removed. If, at the end of the warning status semester the satisfactory academic progress standards are not met, the student will be placed on financial aid suspension. Students cannot appeal a financial aid warning status.
FINANCIAL AID SUSPENSION - Financial aid suspension occurs when the student does not meet the satisfactory academic standards for two consecutive semesters. Financial aid suspension also occurs if the student receives all F’s or a combination of all F’s and W’s for attempted classes in a semester. The Director of Financial Aid also reserves the right, through professional judgement, to place a student of financial aid suspension. Students will not receive financial aid, including student loans, while on financial aid suspension. Students placed on financial aid suspension may continue to enroll at VC, but must pay for their coursework and expenses from their own funds. Enrolling and paying for courses as well as successfully completing courses can assist in regaining the student’s eligibility. In order to regain eligibility, the student must bring their cumulative GPA up to at least a 2.0 and/or their cumulative successful pace of completion up to at least 67% and remain within the 150% maximum timeframe. When this is accomplished, the student will be removed from financial aid suspension and therefore eligible for financial aid. STUDENTS ARE RESPONSIBLE FOR NOTIFYING THE OFFICE OF FINANCIAL AID WHEN THEY BELIEVE THEY HAVE REGAINED ELIGIBILITY FOR FINANCIAL ASSISTANCE.
FINANCIAL AID PROBATION – Students who successfully appeal their financial aid suspension status will be placed on financial aid probation for one semester. Vernon College can require that a student on financial aid probation fulfill specific terms and conditions, such as taking a reduced course load or enrolling in specific courses. A student on financial aid probation may receive financial aid. At the end of that semester, the student must meet Vernon College's satisfactory academic progress standards or the requirements of the established individual academic plan. Failure to do so will result in the student being placed on financial aid suspension.
MONITORING: Students progress will be reviewed at the end of each long semester (December for students enrolled in the Fall, Fall I and/or Fall II semester[s]; May for students enrolled in the Spring, Spring I and/or Spring II semester[s]; and August for students enrolled in the Summer, Summer I and/or Summer II semester[s]). Notification of a student’s satisfactory academic progress status will be posted on his or her Campus Connect account. Students should access Campus Connect to verify their status.
APPEAL PROCEDURE: Students placed on financial aid suspension due to lack of satisfactory progress may appeal the denial of financial aid due to an unusual or extraordinary situation that affected the student’s progression toward the successful completion of his or her program of study. Examples of unusual circumstances include: injury or illness of the student or family member, death of a relative of the student, maximum time limit exceeded, or other special circumstances. The appeal must be submitted in writing to the Financial Aid office and must include supporting documentation to support the appeal. Appeals submitted without supporting documentation will be denied. The appeal must address why the student failed to make satisfactory academic progress. This includes, if applicable, the semester the student was placed on warning, and what has changed in the student's situation that would allow the student to demonstrate satisfactory academic progress at the next evaluation. An appeal may be approved only if the Financial Aid office has determined that the student will be able to meet satisfactory academic progress standards after the subsequent semester. The Financial Aid office also has the option to develop an academic plan with the student that, if followed, will ensure that the student is able to meet satisfactory academic standards by a specific point in time. Students, who are appealing the maximum time frame limit, must be meeting the requirements for 67% completion and a 2.0 cumulative GPA in order for this appeal to be approved. The Financial Aid office will notify students in writing of the results within 30 business days after submitting all requested documentation. Students whose appeal is denied may submit a second appeal in writing to the Scholarship Committee. The second appeal should also be submitted to the Financial Aid office who will, in turn, submit it to the Scholarship Committee. The Scholarship Committee's decision will be final and will be reported to student in writing within 30 business days after receipt of the second appeal.
1. What financial assistance is available.
2. What are the deadlines for submitting applications.
3. What is the cost of attending and refund policies.
4. What is the criteria used to select financial aid recipients.
5. How is financial need determined.
6. What is the criteria used to determine the amount of a student's award.
7. What is satisfactory academic progress and how does it affect the student.
1. Be informed about the institution before you enroll.
2. Complete all forms accurately and submit them on time.
3. Read and understand forms you are asked to sign.
4. Know and comply with deadlines.
5. Keep all personal information, such as address, telephone number, name, up to date with the
Admission and Financial Aid Offices
6. Accept responsibility for all agreements you sign.
7. Maintain good standing and satisfactory academic progress.
INFORMATION DISSEMINATION COORDINATOR: Joe Hite, Dean of Admissions and Financial Aid/Registrar is available, upon reasonable notice, to assist students in obtaining consumer information throughout the normal administrative working hours of Vernon College. Students should contact Melissa Elliott, Director of Financial Aid, for information on student financial assistance. Their offices are located in the Osborne Administration Building on the Vernon Campus. You may also reach them by phone at (940) 552-6291