Financial Aid 101 - Cuyahoga Community College
Financial Aid 101 - Cuyahoga Community College
Financial Aid 101 - Cuyahoga Community College
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2011 ┃ 2012<br />
<strong>Financial</strong> <strong>Aid</strong> <strong>101</strong><br />
A Guide to your 2011-2012<br />
<strong>Financial</strong> <strong>Aid</strong> Awards<br />
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships<br />
Tri-C Federal School code:<br />
003040
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships<br />
A Guide to your 2011-2012 <strong>Financial</strong> <strong>Aid</strong> Awards<br />
<strong>Financial</strong> <strong>Aid</strong> <strong>101</strong><br />
Table of Contents<br />
4 What you should know when applying for <strong>Financial</strong> <strong>Aid</strong> at<br />
<strong>Cuyahoga</strong> <strong>Community</strong> <strong>College</strong> (Tri-C ® )<br />
5 Am I eligible?<br />
<strong>Financial</strong> <strong>Aid</strong> Eligibility<br />
Cost of Attendance (COA) & Expected Family Contribution (EFC)<br />
<strong>Financial</strong> <strong>Aid</strong> Awarding<br />
7 What types of Federal <strong>Financial</strong> <strong>Aid</strong> may I receive?<br />
Federal Grants: Pell, Year Round Pell, Iraq Service Grant Programs<br />
Federal Student Loans: Direct Stafford, Perkins, PLUS Loan Programs<br />
11 What types of Institutional <strong>Aid</strong> may I receive?<br />
Scholarship Awards: Institutional and Foundation Scholarships<br />
Federal Work-Study: Student Employment<br />
Federal Supplemental Educational Opportunity Grant<br />
13 Additional Resources<br />
Charles H. Schell Loan<br />
Nurse Educational Assistance Loan Program (NEALP)<br />
Short-Term Emergency Fund<br />
Private Loans<br />
14 Finalizing & Applying Your <strong>Financial</strong> <strong>Aid</strong><br />
Steps to Finalize Your <strong>Financial</strong> <strong>Aid</strong> Award<br />
Changes to Your <strong>Financial</strong> <strong>Aid</strong> Award<br />
Family <strong>Financial</strong> Changes<br />
Book Authorizations (BK Credit Line)<br />
Paying with your <strong>Financial</strong> <strong>Aid</strong><br />
16 Student Loan Repayment<br />
Repaying Your Student Loans<br />
Split Servicing<br />
Managing Your Student Loan Debt<br />
Avoiding Student Loan Default<br />
18 Student’s Rights and Responsibilities<br />
Attendance Policy<br />
Enrollment Requirements<br />
Concurrent Enrollment / Consortium Agreement Requirements<br />
Authorizing Non-Institutional Charges<br />
Withdrawal Policy<br />
Access to <strong>Financial</strong> <strong>Aid</strong> Records and Family Education Rights and Privacy Act (FERPA)<br />
21 Standards of Satisfactory Academic Progress<br />
24 Paying Your Tuition Bill<br />
Paying your tuition<br />
Receiving Excess <strong>Financial</strong> <strong>Aid</strong><br />
25 <strong>Financial</strong> <strong>Aid</strong> TV (FATV)<br />
26 <strong>Financial</strong> <strong>Aid</strong> Glossary<br />
3
Contact Us 800-954-8742 <strong>Financial</strong>aid@tri-c.edu<br />
Eastern Campus<br />
4250 Richmond Road<br />
Student Services 1204<br />
Highland Hills, OH 44122<br />
Fax: 216-987-2411<br />
Metropolitan<br />
Campus<br />
2900 <strong>Community</strong> <strong>College</strong> Avenue<br />
Student Services 209<br />
Cleveland, OH 44115<br />
Fax: 216-987-4130<br />
Western Campus<br />
11000 Pleasant Valley Road<br />
Student Services 224<br />
Parma, OH 44130<br />
Fax: 216-987-5141<br />
Westshore Campus<br />
31001 Clemens Road<br />
Westlake, OH 44145<br />
216-987-3885<br />
Fax: 216-987-5294<br />
The information published in this document is current as of May 6, 2011.<br />
For the most recent copy of this document, please visit the Student <strong>Financial</strong> <strong>Aid</strong><br />
& Scholarships website at: www.tri-c.edu/financialassistance.<br />
4
Student <strong>Financial</strong> <strong>Aid</strong> Checklist<br />
______ Submit an Application for Admission online at www.tri-c.edu/apply/ or in any campus Enrollment Center to<br />
obtain acceptance to <strong>Cuyahoga</strong> <strong>Community</strong> <strong>College</strong>.<br />
______ Submit an official high school transcript or an official GED transcript to any campus Enrollment Center<br />
-OR- Successfully complete 6 credits hours of college-level courses (at Tri-C or transfer credits), physical<br />
education credits are not included -OR- Pass the <strong>College</strong>’s approved Ability-to-Benefit Test, which can be<br />
taken in the Assessment Center. Submit a copy of the ATB test results to the Enrollment Center.<br />
______ Submit all official academic transcripts from colleges that you have previously attended to any campus<br />
Enrollment Center to insure transfer of all completed credits to <strong>Cuyahoga</strong> <strong>Community</strong> <strong>College</strong> (Tri-C). If<br />
you have left Tri-C and returned and have attended other colleges since your initial departure, submit any<br />
updated academic transcripts.<br />
______ Declare a major course of study that you plan to pursue for your degree or certificate program on the<br />
admissions application or in the Enrollment Center.<br />
______ Complete the FAFSA online at www.fafsa.gov at least eight (8) weeks prior to the beginning of the semester<br />
that you plan to enroll. Be sure to review the posted priority filing dates.<br />
______ Review the Student <strong>Aid</strong> Report (SAR) that you will receive from the U.S. Department of Education once<br />
your FAFSA has been processed.<br />
• Transfer Students: If you have previously completed a FAFSA, add the Tri-C school code 003040 to your<br />
SAR by logging in with your U.S. Department of Education approved PIN number at www.fafsa.gov or by<br />
calling 1-800-433-3243.<br />
______ Review messages received from Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships notifying you that there is<br />
additional information needed to complete the financial aid process.<br />
• Log on to your my Tri-C space at http://my.tri-c.edu.<br />
• Check what documents are needed.<br />
• Print and complete any necessary documents.<br />
• Submit completed documents to the Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office by the deadline as<br />
indicated in the message.<br />
______ Read and review your <strong>Financial</strong> <strong>Aid</strong> Award Notification, which states the financial aid funding that you<br />
may receive for the academic year. If you have questions, contact any campus Student <strong>Financial</strong> <strong>Aid</strong> &<br />
Scholarships Office either by phone or in person. See page 4 for contact information.<br />
Submit <strong>Financial</strong> <strong>Aid</strong> Application Annually<br />
Students must complete a FAFSA application each year to be considered for all need-based scholarships and<br />
financial aid. The <strong>Financial</strong> <strong>Aid</strong> and Scholarship priority filing dates are:<br />
May 1– Summer Semester<br />
June 1– Fall Semester<br />
October 1– Spring Semester<br />
Apply for <strong>Financial</strong> <strong>Aid</strong> at www.FAFSA.gov. Apply for Scholarships at www.tri-c.edu/scholarships<br />
5
What you should know when you apply for<br />
<strong>Financial</strong> <strong>Aid</strong> at <strong>Cuyahoga</strong> <strong>Community</strong> <strong>College</strong><br />
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships (SFAS) Expectations<br />
SFAS expects that you:<br />
• Will read and understand your Student <strong>Aid</strong> Report<br />
(SAR).<br />
• Will submit any additional requirements needed to<br />
efficiently process the financial aid application by<br />
the specified date.<br />
• Will meet the Standards of Satisfactory Academic<br />
Progress (SAP) guidelines to remain eligible for<br />
financial aid.<br />
• Will check your Tri-C email account, as this is the<br />
<strong>College</strong>’s official mode of electronic communication<br />
with you.<br />
• Will consult the SFAS office before dropping or<br />
withdrawing from any courses to be sure that you<br />
have a clear understanding of any consequences<br />
associated with those actions.<br />
• Will set up a payment plan to prevent being<br />
dropped for nonpayment if you have not finalized<br />
the financial aid process by the established priority<br />
deadlines.<br />
• Will attend classes for which you have registered.<br />
• Will drop or withdraw from any courses that you do<br />
not plan to attend in compliance with the Refund<br />
and Withdrawal schedules.<br />
• Will notify the SFAS office if your (or your<br />
family’s) financial situation has changed after<br />
filing the FAFSA. Some changes may include a<br />
loss of income, additional expenses incurred for<br />
medical or educational costs, as well as increase in<br />
household size.<br />
Students should expect SFAS to:<br />
• Determine and notify you of your financial aid<br />
requirements after the FAFSA has been received.<br />
• Request and process your financial aid documents<br />
in a timely manner.<br />
• Determine your eligibility with respect to your (and<br />
your family’s) income, assets, number of students in<br />
college, and household size.<br />
• Notify you when you are not in compliance with the<br />
Standards of Satisfactory Academic Progress (SAP)<br />
policy.<br />
• Notify you of your determined financial aid<br />
eligibility in writing and of any changes or reduction<br />
in your financial aid award.<br />
• Apply all financial aid, for which you have requested<br />
and are eligible, to your Tri-C student account to<br />
assist you with meeting your educationally-related<br />
expenses at Tri-C.<br />
• Adjust your financial aid based on enrollment-level<br />
and course registration changes regarding added,<br />
dropped or withdrawn courses and any courses<br />
reported as never attended.<br />
• Notify you at the end of each semester of your<br />
Standards of Satisfactory Academic Progress (SAP)<br />
status via your Tri-C email account if you do not<br />
meet the requirements.<br />
6
Am I Eligible?<br />
<strong>Financial</strong> <strong>Aid</strong> Eligibility<br />
The award package describes financial aid offered<br />
for the 2011-2012 academic year. Your initial award<br />
is typically based on the assumption that you will be<br />
enrolled as a full-time student for the full academic<br />
year. Students who are registered less than full-time<br />
will receive awards that are appropriate for their<br />
enrollment level.<br />
The following information is provided to help you<br />
understand your financial aid and other funding<br />
options. Please feel free to contact our office with<br />
any questions.<br />
Cost of Attendance (COA) and<br />
Expected Family Contribution (EFC)<br />
Tri-C determines your estimated cost of attendance<br />
based on your residency status, as defined by the<br />
<strong>College</strong>’s admissions process, dependency status, as<br />
defined by the FAFSA, and your enrollment status,<br />
based on the number of credits you are enrolled. Cost<br />
of Attendance (COA) includes tuition and general<br />
fees, books and supplies, room and board, personal<br />
expenses, and transportation costs.<br />
The Expected Family Contribution (EFC) measures<br />
a student’s/family’s ability to contribute toward<br />
a student’s educational costs. When you provide<br />
information on the Free Application for Federal<br />
Student <strong>Aid</strong> (FAFSA) about your (and your family’s)<br />
income, assets, household size, and number of<br />
dependents in college, your EFC is determined by the<br />
U.S. Department of Education. The U.S. Department<br />
of Education’s Central Processing System uses this<br />
information and a congressionally mandated formula,<br />
called Federal Methodology, to calculate your EFC.<br />
The EFC is reported on the Student <strong>Aid</strong> Report (SAR),<br />
which you receive from the federal processor after the<br />
FAFSA has been filed. As one of the schools listed on<br />
the FAFSA, Tri-C will receive your SAR from the federal<br />
processor to determine your Cost of Attendance and<br />
financial aid eligibility. Your EFC will be the same for<br />
any college that you attend and is not unique to Tri-C.<br />
However, you cost of attendance may be different at<br />
other institutions.<br />
<strong>Financial</strong> aid eligibility<br />
The financial aid eligibility for need-based aid is<br />
calculated by this formula: The Cost of Attendance<br />
(COA) minus the Expected Family Contribution (EFC)<br />
equals <strong>Financial</strong> Need or eligibility (i.e. Pell, loans,<br />
some scholarships and other grants).<br />
COA – EFC = <strong>Financial</strong> Need<br />
You may not receive a total financial aid award<br />
package that exceeds your COA.<br />
Your specific COA is determined based on your<br />
enrollment status each semester.<br />
Basic federal financial aid<br />
eligibility criteria:<br />
• You must be a U.S. citizen or eligible noncitizen, as<br />
defined on the FAFSA.<br />
• You must be registered for Selective Service, if you<br />
are male between age of 18 and 25.<br />
• You must be enrolled and working toward a degree<br />
or certificate in an eligible program.<br />
• You must be able to demonstrate financial need<br />
(except for certain loans).<br />
• You must be in compliance with the Satisfactory<br />
Academic Progress (SAP) policy (see SAP Policy on<br />
page 23.)<br />
• You must certify that you are not in default on<br />
any federal student loan or owe a refund on a<br />
federal grant.<br />
• You must have a valid Social Security Number<br />
(unless you are from the Republic of Marshall<br />
Islands, the Federated States of Micronesia, or the<br />
Republic of Palau).<br />
• You must certify that you will use federal student<br />
financial aid only for educational purposes.<br />
• You must not have been convicted of an offense<br />
involving either the possession or sale of illegal<br />
drugs that occurred while receiving Title IV federal<br />
financial aid.<br />
7
Transfer Students<br />
The Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office<br />
will not process any financial aid for you until your<br />
college transcripts have been received. Students who<br />
are transferring to Tri-C must also notify the Student<br />
<strong>Financial</strong> <strong>Aid</strong> & Schoalrships Office if they have<br />
received financial aid at another institution during<br />
the academic year. If Tri-C processes aid for you and<br />
later finds that you have used all or a portion of your<br />
financial aid at another institution, your financial<br />
aid will be reduced and you will be responsible for<br />
repaying the aid received. Students can only receive<br />
financial aid from one institution during a semester.<br />
• Federal Perkins Loans are awarded to students with<br />
exceptionally high financial need according to their<br />
EFC, who have filed their FAFSA by our priority<br />
deadline and completed the application for the<br />
Perkins Loan.<br />
• Federal Direct Stafford Loans are awarded to<br />
students based on federal eligibility guidelines.<br />
Students who are interested in borrowing loans,<br />
must complete a William D. Ford Loan Application<br />
as well as all appropriate, associated steps.<br />
For information about these loans, access<br />
www.tri-c.edu/financialassistance/Pages/loans.<br />
<strong>Financial</strong> <strong>Aid</strong> Awarding<br />
Once your eligibility has been determined, financial<br />
aid award packages are prepared based on the<br />
information below.<br />
• Federal Pell Grants are awarded to eligible students<br />
based on their EFC.<br />
• Scholarship(s) are awarded to eligible students<br />
based on various criteria, including financial<br />
need, grade point average, major course of study,<br />
and various other factors. For information about<br />
scholarships, go to www.tri-c.edu/scholarships.<br />
• If a FAFSA was filed by our priority deadlines,<br />
college-administered need-based aid, grants,<br />
and scholarships are awarded within the limits of<br />
available funds and eligibility criteria. The priority<br />
deadlines are defined below.<br />
May 1 – Summer Semester<br />
June 1 – Fall Semester<br />
October 1 – Spring Semester<br />
<strong>College</strong>-administered, need-based aid includes<br />
Federal Supplemental Educational Opportunity<br />
Grant (FSEOG), Federal Work-Study, and Federal<br />
Perkins Loan.<br />
• Federal Supplemental Educational Opportunity<br />
Grant (SEOG) is awarded to Federal Pell Grant<br />
eligible students with the lowest EFC who filed their<br />
FAFSA by our priority deadline.<br />
• Federal Work-Study (FWS) is awarded to eligible<br />
students with high financial need who filed their<br />
FAFSA by our priority deadline.<br />
8
What Types of Federal <strong>Aid</strong> may I receive?<br />
The table below outlines the basic requirements for all Federal <strong>Financial</strong> <strong>Aid</strong> awards that are available at Tri-C.<br />
Federal <strong>Financial</strong> <strong>Aid</strong> Programs<br />
Student <strong>Aid</strong> Program Type of <strong>Aid</strong> Program Details Annual Award Limits<br />
Federal Pell Grant (PELL)<br />
Grant: Does not have<br />
to be repaid<br />
Available to students who do not<br />
have a first bachelor’s degree.<br />
$555 to $5550 based on EFC(prorated<br />
based on actual enrollment)<br />
Federal Supplemental<br />
Educational Grant (SEOG)<br />
Grant: Does not have<br />
to be repaid<br />
Must be eligible for the Pell Grant;<br />
based on the eligibility of funds for<br />
early applicant.<br />
$300 based on a $0 EFC, may be<br />
awarded to higher EFC based on<br />
available funds.<br />
Federal Work-Study (CWS) Work: Money earned Must be enrolled for 6 credit hours<br />
during the academic year.<br />
Up to $4,500 based on unmet need<br />
and availability of funds.<br />
Iraq and Afghanistan<br />
Service Grant (IRAF)<br />
Grant: Does not have<br />
to be repaid<br />
A student who is not eligible for a Pell<br />
Grant but whose parent or guardian<br />
was a member of the U.S. Armed<br />
Forces and died as a result of service<br />
performed in Iraq or Afghanistan<br />
after September 11, 2001 may be<br />
eligible to receive the Iraq and<br />
Afghanistan Service Grant.<br />
Tuition assistance to the children of<br />
deceased or severely disabled Ohio<br />
veterans who served in the armed<br />
forces during a period of declared<br />
war or conflict. Must be enrolled for<br />
full-time, undergraduate study at an<br />
eligible Ohio college or university.<br />
Ohio residency is required.<br />
Applicants must be under the age<br />
of 25.<br />
Low-interest (5 percent) loan for<br />
both undergraduate and graduate<br />
students with exceptional financial<br />
need.<br />
(Interest rate subject to change with<br />
pending federal legislation)<br />
Up to full Pell grant award<br />
Ohio War Orphan<br />
Scholarship<br />
Scholarship: Does not<br />
have to be repaid<br />
Scholarship benefits are applied to<br />
instructional and general fee charges.<br />
Perkins Loan Program<br />
(PERK)<br />
Loan: Must be repaid.<br />
Loan forgiveness<br />
options are available<br />
for employment or<br />
volunteer service<br />
specified by the<br />
forgiveness program<br />
Up to $3,000 as an undergraduate<br />
study at Tri-C. Maximum lifetime<br />
award for undergraduate is $27,500.<br />
Nursing Educational<br />
Assistance Loan Program<br />
(NEALP)<br />
Loan: Must be repaid<br />
if student does not<br />
serve as a full-time<br />
nurse in Ohio for five<br />
(5) years<br />
Ohio students enrolled in at least six<br />
(6) credit hours and accepted into an<br />
approved Ohio pre-licensure nurse<br />
education program. Loan amount is<br />
based on the EFC.<br />
$1500 (average annual award)<br />
William D. Ford Federal<br />
Subsidized Loan (FDLS)<br />
Loan: Must be repaid<br />
Must be enrolled in at least 6 credit<br />
hours per semester.<br />
Up to $4500 (annual award)<br />
Maximum undergraduate loan is<br />
$57,500 in combination of subsidized<br />
and unsubsidized loans.<br />
Up to $6000 in addition to<br />
the subsidized loan limit and<br />
independent status. Maximum<br />
undergraduate loan is $57,500 in<br />
combination of subsidized and<br />
unsubsidized loans.<br />
Varies; amount up to the cost of<br />
attendance, less any financial<br />
assistance that the student receives.<br />
Based on approved credit rating and<br />
may require a co-signer.<br />
William D. Ford Federal<br />
Unsubsidized Loan (FDLU)<br />
Loan: Must be repaid<br />
Must be enrolled in at least 6 credit<br />
hours per semester.<br />
William D. Ford Parent Loan<br />
for Undergraduate Students<br />
(PLUS)<br />
Loan: Must be repaid<br />
Parent borrows loan on behalf of the<br />
student who must be enrolled in at<br />
least 6 credit hours per semester.<br />
9
Federal Grants<br />
Pell Grant<br />
Federal Pell Grant - A federal grant awarded to<br />
undergraduate students with exceptionally high<br />
financial need. For the 2011-2012 academic year, the<br />
Pell Grant award ranges from $555 to $5,550.<br />
Students who received their first Pell Grant on or after<br />
July 1, 2008, will be eligible to receive a Pell Grant for<br />
as many as 18 semesters (full-time) or its equivalent<br />
if attending less than full-time. Pell Grant usage and<br />
remaining percentage available will be documented<br />
on the Student <strong>Aid</strong> Report (SAR). This is referred to as<br />
the Pell Lifetime Eligibility Limit.<br />
If you have not completed your undergraduate degree<br />
after receiving 18 full-time equivalent semesters of<br />
Pell grants, you will no longer be eligible to receive a<br />
Pell grant.<br />
Part-time or partial award payments are recorded as<br />
such and subtracted from the 18 full-time semester<br />
limit.<br />
Pell Grant Changes for Summer Pell Awards: Federal<br />
regulatory changes to the Pell Grant program provide<br />
students with an opportunity to complete their<br />
program of study more timely by enrolling in Summer<br />
Semester and receiving a full term Pell Grant award.<br />
Students may receive an additional Pell Grant award<br />
provided they “demonstrate academic progression”<br />
toward the completion of their degree, which means<br />
students must complete credits toward the next<br />
academic year and progress in rank by completing at<br />
least 25 credits during the academic year – Fall, Spring<br />
and Summer.<br />
Each student will be reviewed and calculated based<br />
on their specific information, Pell Grant award,<br />
percentage of grant received to date, completed<br />
credits, enrolled credits, and advancement in rank,<br />
based on completing more than 24 credits during the<br />
academic year. For the purpose of this policy, rank is<br />
defined as the “completion of at least 24 credits each<br />
academic year.” To be eligible for a Second Scheduled<br />
Award, a student must advance in credits beyond 24,<br />
by completing at least 25 credits per academic year<br />
under Year Round Pell (YRP) regulation.<br />
NOTE: Summer 2011 is the last Summer that students<br />
may receive Year Round Pell or a Second Scheduled<br />
Award in an academic year, which would be<br />
applicable using the 2010-2011 FAFSA.<br />
The following are requirements for students to be<br />
eligible for YRP:<br />
• Be enrolled at least half-time (6 or more credits)<br />
each semester during the academic year (Fall 2010/<br />
Spring 2011/Summer 2011).<br />
• Have completed sufficient credits during the Fall<br />
2010 and Spring 2011 and be enrolled in ample<br />
credits during Summer 2011 to be considered to<br />
have “demonstrated academic progression” by<br />
completing a total of at least 25 credits during the<br />
full academic year.<br />
Example 1 - Student receives 100% of regular<br />
scheduled Pell Grant in Fall 2010 (completes 12<br />
credits) and Spring 2011 (completes 12 credits) and<br />
enrolls in 12 credits during Summer 2011. Student is<br />
eligible for YRP of $2,775 for Summer 2011 and has<br />
progressed in rank received to a Second Scheduled<br />
Award, based on the completion of at least 24 credits<br />
during the Fall and Spring semesters and anticipated<br />
completion of more than 24 credits, based on Summer<br />
2011 enrollment of at least half-time.<br />
Beginning with the 2012-2013 academic year, Tri-C<br />
will process Pell grants as a trailer school. This<br />
means that students who choose to attend and apply<br />
financial aid funds for the Summer 2012 can use<br />
remaining Pell for 2011-2012 (current academic year),<br />
if they have not used all funds for Fall 2011 and Spring<br />
2012. New students for Summer 2012 can complete<br />
the 2011-2012 FAFSA to be considered for Summer<br />
Pell grant.<br />
Iraq and Afghanistan Service Grant<br />
A student who is not eligible for a Pell Grant but<br />
whose parent or guardian was a member of the<br />
U.S. Armed Forces and died as a result of service<br />
performed in Iraq or Afghanistan after September<br />
11, 2001 may be eligible to receive the Iraq and<br />
Afghanistan Service Grant.<br />
Additional Student Eligibility Requirements<br />
• Be under 24 years old or<br />
• Enrolled in college at least part-time at the time of<br />
the parent’s or guardian’s death.<br />
The grant award is equal to the amount of a maximum<br />
Pell Grant for the award year – not to exceed the cost<br />
of attendance for that award year.<br />
10
Federal Student Loans<br />
Borrowing Student Loans<br />
A student loan is borrowed money that must be<br />
repaid with interest. When you borrow a student loan<br />
you are making a legal obligation to repay the loan, so<br />
carefully consider the amount you borrow. Students<br />
can request a one, two or three semester loan. If the<br />
loan is requested for two terms the loan amount will<br />
be divided in half and there will not be any remaining<br />
loan funds available during a third semester.<br />
In addition to Federal student loans, <strong>Cuyahoga</strong><br />
<strong>Community</strong> <strong>College</strong> offers institutional student loans.<br />
What are the requirements to borrow while attending<br />
Tri-C?<br />
• Complete and submit the FAFSA. This must also be<br />
completed for Alternative (Private) loans;<br />
• Complete all required Tri-C paperwork;<br />
• Complete the loan application;<br />
• First-time borrowers at Tri-C must complete an<br />
online Entrance Counseling Quiz and electronically<br />
sign a Master Promissory Note (MPN) at<br />
www.studentloans.gov;<br />
• Enroll and remain enrolled in at least six (6) credits<br />
each semester;<br />
• Have not defaulted or be in overpayment on any<br />
federal grant or student loan programs;<br />
• Have not borrowed in excess of federal loan limits;<br />
• Maintain compliance with Tri-C’s Satisfactory<br />
Academic Progress policy;<br />
• First time Tri-C borrowers will have at least 30-day<br />
delay from the start of their enrollment before the<br />
loan can be credited to their accounts.<br />
Federal Student Loans (Direct Stafford<br />
and Perkins)<br />
Direct Stafford Loans<br />
Tri-C participates in the William D. Ford Federal Direct<br />
Loan Program, which is a Stafford Loan processed<br />
through and borrowed from the U.S. Department of<br />
Education. The types of Loans are:<br />
• Subsidized Loans: Awarded on the basis of<br />
financial need and are not subject to credit<br />
approval. You will not be charged interest before<br />
repayment or during a period of deferment.<br />
• Unsubsidized Loans: Not awarded based on<br />
financial aid and are not subject to credit<br />
approval. You are responsible for the interest<br />
accumulated on the loan, which is capitalized<br />
every three months during deferment, grace, and<br />
repayment periods until the loan is paid in full. If<br />
you choose not to pay the interest before leaving<br />
school, it will accumulate and be added to the<br />
principal amount upon repayment.<br />
The interest rate on the Direct Loan is determined<br />
each year July 1. The interest rate may change based<br />
on the Treasurer T-bill, on an annual basis. Updated<br />
interest rates may be available on the Student<br />
<strong>Financial</strong> <strong>Aid</strong> & Scholarships website.<br />
You will be given a 6-month grace period after<br />
finishing school or dropping below half-time<br />
enrollment status. Repayment on the Direct Loan will<br />
begin after the grace period.<br />
Applications for the Direct Loan are available in the<br />
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office and at<br />
www.tri-c.edu/financialassistance/Pages/Forms.<br />
Perkins Loan Program<br />
The Perkins Loan is an educational loan provided by<br />
the federal government and repayment is made to<br />
Tri-C. The Perkins Loan is a need-based student loan<br />
designed to assist students with educational expenses<br />
who have exceptional financial need while attending<br />
college. You must be enrolled at least half-time (6<br />
credits) to be eligible.<br />
The interest rate on the Perkins Loan is 5%. The<br />
interest rate is subject to change with pending federal<br />
legislation. If you receive a Perkins Loan, you will<br />
be given a 9-month grace period for repayment<br />
after finishing school or dropping below half-time<br />
enrollment status. Repayment on the Perkins Loan<br />
will begin after the grace period. Loan repayment<br />
amounts begin at $40 per month.<br />
If you work in public service or participate in certain<br />
programs that assist disadvantaged populations<br />
during repayment, you may qualify for a portion of<br />
your loan repayment to be cancelled. For additional<br />
information, please contact your Student <strong>Financial</strong><br />
<strong>Aid</strong> & Scholarships Advisor.<br />
11
To be considered for a Perkins Loan, you must<br />
complete the FAFSA, complete a Perkins loan<br />
application and all associated steps as outlined on<br />
the application.<br />
Applications for the Perkins Loan are available at the<br />
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office or online<br />
at our online <strong>Financial</strong> <strong>Aid</strong> Forms page at:<br />
www.tri-c.edu/financialassistance/Pages/Forms.<br />
Federal Direct PLUS Loan:<br />
Parent Loan for Undergraduate Students (PLUS)<br />
Loans are requested by parents of undergraduate<br />
dependent students who have additional need after<br />
the maximum amount of all other aid has been<br />
awarded. Parents must submit an application for<br />
credit approval.<br />
The interest rate on the PLUS Loan is determined<br />
each year July 1. The interest rate may change based<br />
on the Treasurer T-bill, on an annual basis. Updated<br />
interest rates may be available on the Student<br />
<strong>Financial</strong> <strong>Aid</strong> & Scholarships website. Repayment on<br />
the PLUS Loan will begin after the final disbursement<br />
for the loan period.<br />
To be considered for a PLUS Loan, you must complete<br />
the FAFSA, have your parent complete a PLUS Loan<br />
request form and all associated steps as outlined on<br />
the application.<br />
Applications for the PLUS Loan is available in the<br />
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office and<br />
online at our online <strong>Financial</strong> <strong>Aid</strong> Forms page at:<br />
www.tri-c.edu/financialassistance/Pages/Forms.<br />
12
What types of Institutional <strong>Aid</strong> may I receive?<br />
Scholarship Awards<br />
Institutional Scholarships<br />
Tri-C has many scholarship opportunities available<br />
to Tri-C students, including merit-based awards for<br />
students who excel in the classroom, as well as awards<br />
to participate on the Tri-C athletic teams or to serve<br />
on Student Government. Information regarding<br />
eligibility for these resources is available through<br />
the individual programs. For additional information<br />
contact the individual departments listed below.<br />
Priority awarding dates are June 1 and October 1<br />
each year.<br />
Tri-C Institutional Scholarship Opportunities include:<br />
Program<br />
department<br />
Academic Excellence High School Guidance<br />
Counselor<br />
Honors Program<br />
Athletic<br />
Journalism<br />
Student Senate<br />
Trio-Access<br />
Honor’s Program<br />
Coordinator<br />
Student Life, Athletics and<br />
Recreation Office<br />
Student Life, Athletics and<br />
Recreation Office<br />
Student Life, Athletics and<br />
Recreation Office<br />
Access or Student Support<br />
Services Offices<br />
Foundation Scholarships<br />
Tri-C Foundation Scholarships are scholarships<br />
that are made available through the generous<br />
contributions from members in our community<br />
including alumni, businesses, and other individual<br />
donors. Scholarships are available in a variety of<br />
areas and are based on major, status, residency, etc.<br />
For a list of Foundation scholarships, please visit the<br />
Scholarships Page at www.tri-c.edu/payingforcollege/<br />
scholarships.<br />
How to Apply for Tri-C Foundation Scholarships<br />
www.tri-c.edu/payingforcollege/scholarships<br />
1. Complete the Free Application for Federal Student<br />
<strong>Aid</strong> (FAFSA) at www.fafsa.gov.<br />
2. Complete the online Scholarship Application.at<br />
www.tri-c.edu/scholarships.<br />
3. Check your my Tri-C space after June 1.<br />
Selected scholarship recipients will be contacted by<br />
the Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office once<br />
the selection process has been completed. If you have<br />
questions regarding scholarship opportunities at<br />
Tri-C, please visit the scholarship web site at www.tri-c.<br />
edu/scholarships, or contact the Student <strong>Financial</strong> <strong>Aid</strong><br />
& Scholarships by phone 1-800-954-4752, or by email<br />
at scholarships@tri-c.edu.<br />
Other Resources and Scholarships<br />
Many students receive funding from external<br />
scholarship sources, such as The Cleveland<br />
Foundation or <strong>College</strong> Now, to assist them in funding<br />
their educational expenses. You are required to<br />
report any scholarships that you receive to the<br />
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office. External<br />
scholarships will be included in your total financial<br />
aid award package and are used to calculate your<br />
financial need. Eligibility for federal campus based<br />
funds (such as SEOG) or self-help aid (such as,<br />
student loans and student employment) may be<br />
adjusted so as not to exceed your <strong>Financial</strong> Need<br />
and/or Cost of Attendance. If, at any time during the<br />
award period, you receive additional resources that<br />
were not considered in calculating your eligibility for<br />
campus-based aid, and if these resources combined<br />
with expected financial aid will exceed your need,<br />
Tri-C reserves the right to adjust financial aid awards<br />
to ensure that external and internal funding does not<br />
exceed the <strong>Financial</strong> Need and/or Cost of Attendance<br />
for the academic year. Adjustments may be made<br />
to your financial aid award at any time during the<br />
year as updated information is received. If a change<br />
has been made to your financial aid award, you will<br />
receive a message from the Student <strong>Financial</strong> <strong>Aid</strong><br />
& Scholarships Office instructing you to login to<br />
my Tri-C space to view the changes.<br />
13
Federal Work-Study (FWS)<br />
The Federal Work-Study Program, also known as<br />
college work-study (CWS) is a college-based federal<br />
financial aid program that is administered by Tri-C.<br />
The Work-Study Program (CWS) allows eligible<br />
students to work and earn funds while enrolled in<br />
at least six credit hours to help offset educational<br />
expenses. The maximum award for the 2011-2012<br />
academic year is $4,500. Student may work up to 20<br />
hours per week when classes are in session. During<br />
official break periods, students may work 20 hours<br />
per week provided that they have not earned their full<br />
Work-Study award. The salary is paid from Federal<br />
Work-Study funds and hourly rates are determined<br />
by the position. Duties must be directed toward<br />
professional and skilled responsibilities and are<br />
defined by each department, not by the Student<br />
<strong>Financial</strong> <strong>Aid</strong> & Scholarships Office.<br />
Finding a job on Campus<br />
If you have been awarded Federal Work-Study, you<br />
can view the job postings online through Tri-C’s<br />
employment system. The steps to searching/applying<br />
for a position are:<br />
• Log onto http://careers.tri-c.edu<br />
• Click “Search Postings” on left-hand menu<br />
• For Position Type, select “Student Employment”<br />
• For Job Category, select “Work Study Student”<br />
• Click “Search”<br />
• Click “View” under any Position Title of interest<br />
• To apply to a position, click “Apply For This Posting”<br />
• Complete application process<br />
The supervisor of the department in which you have<br />
applied will contact you if you are determined a<br />
prospective candidate for the position.<br />
Authorization must be completed each year in the<br />
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarship Office. If you<br />
begin working before you have been assigned an<br />
official start date, it will be the responsibility of the<br />
department to pay for those hours. Additionally, it is<br />
very important that you and your supervisor monitor<br />
the hours of each pay period to ensure you work<br />
within your allotted hours.<br />
You are also required to notify the Student <strong>Financial</strong><br />
<strong>Aid</strong> & Scholarships Office if you receive any additional<br />
financial resources (i.e. external scholarships or<br />
awards) that may affect your eligibility for work-study<br />
funding. Additionally, if you decide to stop working or<br />
become ineligible due to enrollment or other criteria,<br />
your employment will be terminated from the Work-<br />
Study Program. If you do not qualify for a work-study<br />
position, based on your financial need, you are invited<br />
to use Key Career Place services to find a job in a<br />
nearby business.<br />
Federal Supplemental<br />
Educational Opportunity<br />
Program (FSEOG)<br />
The Federal Supplemental Educational Opportunity<br />
Grant (FSEOG) is a college-based federal grant<br />
program that is administered by Tri-C. This grant is<br />
awarded to undergraduate students enrolled full or<br />
part-time with exceptionally high financial need.<br />
The maximum award offered for the 2011-2012<br />
academic year is $300. This grant is not awarded for<br />
Summer session.<br />
Getting started working<br />
Once you have submitted the student employment<br />
packet to the hiring department, the Work-Study<br />
Advisor will inform you and your supervisor of your<br />
official start date. Your first day of work will be at the<br />
beginning of a new pay period. You cannot begin<br />
your assignment unless you have been authorized<br />
to work by the Work Study Advisor at your campus.<br />
14
Additional Resources<br />
In addition to Federal student loans, <strong>Cuyahoga</strong><br />
<strong>Community</strong> <strong>College</strong> offers institutional student loans.<br />
Charles H. Schell Loan<br />
Tri-C has received funding from the Charles E.<br />
Schell Foundation, Fifth Third Bank, Trustee, to<br />
provide interest free loans to selected Tri-C students.<br />
Students selected as recipients of the loan shall sign a<br />
promissory note for the amount of the loan awarded.<br />
The note will be made payable without interest and<br />
without undue hardship unto the recipient. Loans are<br />
awarded for one semester.<br />
Eligibility requirements for the Charles E. Schell<br />
Foundation Loan Fund include:<br />
• Must be an enrolled student for credit courses<br />
at Tri-C;<br />
• Must be a resident of Ohio, West Virginia, Kentucky<br />
or adjoining states;<br />
• Must be between the ages of 15 and 25 years of age;<br />
• Must be a citizen of and born in the United States;<br />
• Must maintain a 2.0 cumulative <strong>Cuyahoga</strong><br />
<strong>Community</strong> <strong>College</strong> grade point average.<br />
Loan requests may not exceed $500. Students may<br />
borrow one loan per academic year and are eligible to<br />
reapply each year for the Charles E. Schell Loan.<br />
Nurse Education Assistance Loan<br />
Program (NEALP)<br />
The Nurse Education Assistance Loan Program<br />
(NEALP) provides financial assistance to Ohio<br />
students enrolled for at least half-time study (or<br />
accepted for enrollment) in an approved Ohio nurse<br />
education program. NEALP provides funding for<br />
nurses who intend to serve as instructors or students<br />
who intend to serve as nurses after graduation.<br />
Short-term Emergency Fund<br />
Tri-C provides temporary assistance to students who<br />
encounter emergency situations for educational<br />
expenses such as books, tuition, fees, transportation<br />
and other expenses. This loan program cannot be<br />
used to meet everyday living expenses. The funding is<br />
processed on a first-come, first-served basis.<br />
To receive an emergency loan all students must meet<br />
the criteria outlined below:<br />
• Be enrolled in at least 6 credit hours and maintain<br />
good satisfactory academic progress as determined<br />
by Tri-C;<br />
• Be in good financial standing with the <strong>College</strong> and<br />
the U. S. Department of Education;<br />
• Have a completed FAFSA on file and;<br />
• Cannot have an outstanding Short-term<br />
Emergency Loan.<br />
The maximum award is $500. All loans must be repaid<br />
within 90 days.<br />
If you are interested in receiving Short-Term<br />
Emergency Funds, please contact the Student<br />
<strong>Financial</strong> <strong>Aid</strong> & Scholarships office.<br />
Private Loans<br />
Alternative (Private) loans are non-federally funded<br />
loans that are provided through banks and other<br />
lending institutions. These loans can be used to<br />
supplement other financial aid awards and/or can be<br />
applied for directly through the lending institution.<br />
Applications are subject to credit approval and cosigners<br />
may be required. Interest rates and repayment<br />
schedules may differ from federal guidelines. A FAFSA<br />
must be completed and federal eligibility determined<br />
before the <strong>College</strong> can certify the loan.<br />
The annual award for the most recent academic year<br />
was $1,500/year. In exchange, to qualify for loan<br />
cancellation, recipients must be employed full-time<br />
as a registered nurse or licensed practical nurse in<br />
the State of Ohio for a minimum of five years after<br />
graduation.<br />
To apply, students must complete the FAFSA in<br />
addition to completing the NEALP application online<br />
at http://regents.ohio.gov/sgs/nealp/students.php.<br />
15
Finalizing & Applying Your <strong>Financial</strong> <strong>Aid</strong> Awards<br />
Steps to Finalize Your <strong>Financial</strong> <strong>Aid</strong> Award<br />
• Enroll/Register for courses in an eligible degree or<br />
certificate program.<br />
• Check my Tri-C space or contact the Student<br />
<strong>Financial</strong> <strong>Aid</strong> & Scholarships Office to ensure all<br />
requirements are completed.<br />
• Return all requested verification documents (i.e.,<br />
verification worksheet, copy of signed tax return,<br />
W-2 statements) if applicable, within two weeks of<br />
all notifications.<br />
• Pay your semester tuition bill by the due date to<br />
avoid being dropped for nonpayment, if you have<br />
not completed the financial aid process by the<br />
established priority deadlines.<br />
Students who are first time student loan borrowers<br />
at Tri-C have additional requirements that must be<br />
completed prior to borrowing student loans:<br />
• Student must complete a Master Promissory Note<br />
(MPN) and Entrance Counseling online<br />
www.studentloans.gov.<br />
Once you complete an application for admission to<br />
Tri-C with the Enrollment Center or online, you will<br />
receive access to the <strong>College</strong>’s my Tri-C space site to<br />
view your student information, register for classes, and<br />
view your financial aid status. You will be assigned a<br />
<strong>College</strong> e-mail address once you register for classes.<br />
Family <strong>Financial</strong> Changes<br />
A student may request a review of their financial<br />
aid eligibility if the family’s financial situation has<br />
changed after filing the FAFSA. Some changes may<br />
include a loss of income, additional expenses incurred<br />
for medical or educational costs, as well as increase in<br />
household size. To discuss your circumstances or for<br />
more information, visit or call Student <strong>Financial</strong> <strong>Aid</strong> &<br />
Scholarships.<br />
Changes to Your <strong>Financial</strong> <strong>Aid</strong> Award<br />
You should notify the Student <strong>Financial</strong> <strong>Aid</strong> &<br />
Scholarships Office of any external financial aid you<br />
may receive, including, but not limited to remission of<br />
fees, tuition assistance, and scholarships from other<br />
sources.<br />
Verification<br />
You may be selected for a process called Verification.<br />
Verification is a process in which the Student<br />
<strong>Financial</strong> <strong>Aid</strong> & Scholarships Office is mandated by<br />
the U.S. Department of Education to confirm the<br />
information reported on the FAFSA. You may be asked<br />
to provide signed copies of your (and your parents’)<br />
2010 Federal Income Tax Return and all 2010 W-2<br />
forms, complete a 2011-2012 Verification Worksheet,<br />
and/or document other financial income and submit<br />
additional financial documents as required for<br />
verification.<br />
Students who are selected for Verification will not<br />
receive financial aid and may not qualify for a book<br />
authorization until the verification process has been<br />
complete.<br />
Students will be notified of any changes to their<br />
financial aid awards. Changes may be necessary due<br />
to a change in your EFC as a result of completed<br />
financial aid verification, any added or adjusted<br />
financial aid awards and scholarships or any changes<br />
in your student loans.<br />
Every effort will be made to adjust a student’s financial<br />
aid award prior to funds being applied to the student’s<br />
Tri-C account. In some cases, Student <strong>Financial</strong> <strong>Aid</strong><br />
& Scholarships may be required to return funds that<br />
a student had received to the appropriate federal/<br />
state program after the funds have been applied to<br />
the student’s account. This could result in the student<br />
owing a balance to Tri-C.<br />
The Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office<br />
reserves the right to review and revise a financial aid<br />
award due to any of the following:<br />
• Changes in the student’s major.<br />
• Changes in a student’s enrollment.<br />
• Changes affecting a student’s eligibility for awards.<br />
• Changes resulting from the verification process.<br />
• Changes resulting from a student receiving<br />
additional sources of financial aid.<br />
• Changes to correct errors in student information.<br />
• Changes to and recalculation of student’s financial<br />
satisfactory academic progress (SAP).<br />
To determine the specific changes to your financial<br />
aid awards, please contact the Student <strong>Financial</strong> <strong>Aid</strong> &<br />
Scholarships office.<br />
16
Applying your awards for<br />
Book Authorization<br />
Book authorizations (BK Credit Line) are established<br />
on your My Tri-C card for use in the Barnes & Noble<br />
book stores for students who have a finalized financial<br />
aid award and who will have federal financial aid in<br />
excess of at least $100 above tuition and fee costs.<br />
For example, if your tuition is $900 and your federal<br />
financial aid totals $1,750, a book authorization will<br />
be established for you up to $850. If your tuition is<br />
$1,000 and your federal aid only totals $1,000, a book<br />
authorization will not be established for you, as you<br />
will have no financial aid in excess of tuition and fees.<br />
Book Authorizations (BK Credit Line) are set up in the<br />
following amounts based on credits of enrollment:<br />
1 – 5 credits = $213.00<br />
6 – 8 credits = $425.00<br />
9 – 11 credits = $638.00<br />
12 or more credits = $850.00<br />
If you are not eligible for the above book<br />
authorization, based on your financial aid awards,<br />
and have at least $100.00 in excess financial aid, after<br />
tuition and fees have been deducted, you may receive<br />
a book authorization for $100.00, regardless of the<br />
number of credits.<br />
Book authorizations (BK Credit Line) may be available<br />
at least one week prior to the start of the term for<br />
eligible students. All students receiving a book<br />
authorization will be notified of its availability and<br />
expiration through your Tri-C e-mail account. The<br />
amount of the Book Authorization that you use will<br />
automatically be deducted from any financial aid<br />
refunds that you may receive. You can view your Book<br />
Authorization by using a My Tri-C Card AMC machine<br />
at various locations on each campus, or by reviewing<br />
the “BV Credit Line” at the Online Card Office website.<br />
To login to the Online Card Office, login to my Tri-C<br />
space and click on the “My Info Tab.” The My Tri-C<br />
Card Channel will direct you to the online card<br />
office website.<br />
Purchasing books with your<br />
Book Authorization<br />
Once your financial aid funds have been applied<br />
to your My Tri-C Card, you can go to any campus<br />
Barnes & Noble book store to purchase books. Book<br />
authorizations are established based on your financial<br />
aid and class registration. You are encouraged to<br />
register by the suggested financial aid dates posted on<br />
the Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships website, in<br />
order to have book authorizations available as early as<br />
possible each semester.<br />
Book authorizations may be provided to students,<br />
who have met all financial aid eligibility requirements,<br />
registered in applicable coursework for the semester,<br />
and have met satisfactory academic standards for<br />
financial aid purposes.<br />
Book authorizations may be used to purchase<br />
textbooks and related supplies. You have the option to<br />
purchase, new or used books, electronic text books, or<br />
textbook rentals.<br />
Textbook Rental Program<br />
The textbook rental program is a new option available<br />
at all Barnes & Noble book store locations. To rent<br />
textbooks, students must secure the rental with a valid<br />
credit card, sign a rental agreement and pay the rental<br />
costs. The cost to rent a textbook is about half the cost<br />
of a new textbook. The rental fee can be paid using<br />
you My Tri-C Card, cash or any major credit card.<br />
Students can keep the rented textbooks for the entire<br />
semester and the books must be returned no later<br />
than 10 days after the last day of finals. For more<br />
information, please contact your campus book store.<br />
Paying with your <strong>Financial</strong> <strong>Aid</strong><br />
If you have received a financial aid award notification<br />
via my Tri-C space and via Tri-C email, and have<br />
registered for the minimum number of credit hours<br />
required to receive the aid, funds will be applied to<br />
tuition charges.<br />
Indirect educational expenses are the student’s<br />
responsibility until the credit balance is received.<br />
Students not receiving the results of their financial aid<br />
application at the time of registration should inquire<br />
about applying for an Installment Payment Plan.<br />
17
Student Loan Repayment<br />
Repayment on your student loans begins after the<br />
six (6) month grace period that starts either after<br />
you graduate, leave school or enroll in fewer than<br />
six credits in a semester. If you have borrowed an<br />
unsubsidized loan, you will be charged interest<br />
during the grace period, which you can choose to let<br />
accumulate. There is no interest charged during the<br />
grace period for a subsidized loan.<br />
Loans must be repaid regardless of whether you<br />
complete your program or degree. The lender will<br />
send you information and determine the date for you<br />
to begin repayment. You are responsible for repaying<br />
your loan on time, even if you do not receive a bill or<br />
repayment notice. Contact your lender if you have not<br />
received information from them. Failure to make your<br />
payments on time will affect your credit rating. Failure<br />
to make payments will also cause you to be in default.<br />
There are several types of repayment options available<br />
to you:<br />
• The Standard 10-year Repayment Plan has a<br />
minimum $50 monthly payment.<br />
• The Extended Repayment Plan has a minimum<br />
$50 monthly payment and allows you to pay over a<br />
longer period, but you will repay more because of<br />
the longer repayment period.<br />
• The Graduated Repayment Plan offers a lower<br />
monthly payment initially but then periodically<br />
increases and allows you to pay over a longer<br />
period. You will repay more because of the longer<br />
repayment period.<br />
• The Income Contingent Repayment Plan bases your<br />
monthly payment on your yearly income.<br />
If your repayment becomes difficult, know that there<br />
are options. Contact your lender immediately –<br />
do not wait!<br />
Split Servicing<br />
Starting in the 2010-2011 academic year, all Stafford<br />
and Grad PLUS Loans are made through the Direct<br />
Loan (DL) program, so if you borrowed this year, you<br />
have at least one year of Direct Loans (you may have<br />
more, depending on your previous college).<br />
You may have some FFELP Loans borrowed before<br />
your previous college moved into the Direct Loan<br />
Program and/or borrowed before you enrolled<br />
at Tri-C.<br />
Your Loan Servicer is the organization your lender or<br />
current holder contracts with to work with you during<br />
repayment and who processes requests for deferment,<br />
forbearance, and repayment plan selection.<br />
You can find your current loan servicer on NSLDS at<br />
www.NSLDS.ed.gov. Simply click on the number to<br />
the left of each loan on the Account Summary page<br />
and you will see additional information on that loan,<br />
including the loan servicer, their address, and phone<br />
number.<br />
You may have one or more of the following types of<br />
loans, resulting in a “Split Portfolio”:<br />
• FFELP Loans that have not been sold to the<br />
Department of Education (ED).<br />
• FFELP Loans that have been sold to ED and assigned<br />
to a new loan servicer.<br />
• Direct Loans that have been assigned a new loan<br />
servicer.<br />
• Loans from your school, sometimes called “campusbased<br />
loans” such as Perkins, Health Professions<br />
Student Loans (HPSL), and institutional loans<br />
directly from your previous college(s); some schools<br />
service their own campus-based loans, while other<br />
schools contract with an outside servicer.<br />
• Private loans that have been assigned to a loan<br />
servicer with whom your private lender contracts.<br />
NOTE: You may receive notices from the loan servicers,<br />
other than the U.S. Department of Education<br />
while in deferment, which means your loan has<br />
a Split Servicing agreement. Once you go into<br />
repayment, you may request to have all of your loans<br />
consolidation under a single servicer.<br />
What can you do and what is being done to help<br />
Consolidate your eligible loans<br />
Consider consolidation as part of your repayment<br />
strategy. Consolidation is a process whereby you<br />
pay off or “refinance” multiple loans with one<br />
new loan resulting in one loan servicer. There are<br />
advantages and disadvantages to consolidation, so<br />
talk with your lender about consolidations and the<br />
interest rate.<br />
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Use NSLDS to identify your loan servicer(s)<br />
As referenced before, go to www.NSLDS.ed.gov<br />
and click on the number to the left of each loan to<br />
identify and get important information on your<br />
loan servicer(s).<br />
The U.S. Department of Education (ED)<br />
is helping<br />
The Department of Education is taking steps to<br />
move any loans they own, including Direct Loans,<br />
to one Loan Servicer for you, so watch your mail<br />
carefully for notices about this. You may see the<br />
Department of Education referenced on NSLDS<br />
as “ED.”<br />
Debt Management<br />
In order to successfully repay your loan, you must<br />
manage your finances. Start by getting organized.<br />
Keep track of all of your loan and other financial<br />
documents in one place.<br />
• Know your student loan rights and responsibilities.<br />
• Develop a budget by estimating your income and<br />
expenses. Only you can determine if you are living<br />
within your budget.<br />
• Re-evaluate your expenses and reconsider your<br />
needs and wants.<br />
• Avoid using credit cards.<br />
• Work part-time and borrow only what you really<br />
need while in school.<br />
• Keep in contact with your lender.<br />
A forbearance allows you to temporarily reduce,<br />
extend or postpone your payment. You are<br />
responsible for paying the interest on your subsidized<br />
and/or unsubsidized loan. Receiving a deferment<br />
or forbearance is not automatic. You must apply<br />
and continue making payments until your request<br />
has been granted. Failure to do so will cause you to<br />
become delinquent or to default on your loan.<br />
Consolidating your loan is another option which<br />
may help to reduce your monthly payment. Loan<br />
consolidation is combining one or more eligible loans<br />
into one, resulting in one monthly payment. You<br />
will have a longer time period to repay and you will<br />
receive a fixed interest rate.<br />
Avoiding Loan Default<br />
Failing to make scheduled monthly payments will<br />
cause you to default on your loan. There are severe<br />
consequences to defaulting such as wage or tax<br />
refund withholding and becoming ineligible for any<br />
additional federal aid.<br />
If you are experiencing difficulty repaying your loan,<br />
under certain circumstances you may qualify to have<br />
your monthly payment postponed. Contact your<br />
lender to find out if you qualify for a deferment or<br />
forbearance.<br />
A deferment allows you to temporarily postpone<br />
payments on your loan; however, you will be<br />
responsible for paying the interest on your<br />
unsubsidized loan during this period of deferment.<br />
19
Student’s Rights and Responsibilities<br />
Attendance Policy<br />
Eligibility for federal student financial aid is<br />
determined based on your enrollment status on the<br />
15th day of the session in which you are enrolled.<br />
Students who register for courses but do not attend<br />
may be reported for non-attendance by Tri-C faculty<br />
and your financial aid will be adjusted to reflect<br />
financial aid eligibility only for attending courses.<br />
Federal regulations require that students attend all<br />
registered classes in order to receive federal financial<br />
aid funds. Students who do not attend the full session<br />
are responsible for withdrawing from the courses.<br />
Tri-C is required to insure that students receive<br />
financial aid only for courses that they attend and<br />
complete. Students who fail to complete at least one<br />
course may be required to repay all or a portion of<br />
their federal financial aid funds and may be ineligible<br />
to receive future federal financial aid awards. Students<br />
who withdraw from classes prior to completing more<br />
than 60 percent of their enrolled class time may be<br />
subject to the required federal refund policy. Students<br />
who have stopped attending classes but may not<br />
be withdrawn may be subject to the Return of Title<br />
IV Policy, as noted below, based on their last date<br />
of attendance.<br />
Enrollment Requirements<br />
<strong>Financial</strong> aid is determined by your enrollment status.<br />
Your initial financial aid award is typically based on<br />
the assumption that you will be enrolled full-time for<br />
the full academic year.<br />
You are not required to enroll full-time. Student’s<br />
who enroll less than full-time will receive pro-rated<br />
financial aid awards.<br />
Concurrent Enrollment/Consortium<br />
Agreement Requirements<br />
What is Concurrent Enrollment?<br />
Concurrent enrollment refers to enrollment at more<br />
than one institution at the same time. If you enroll in<br />
more than one school during the same<br />
time period, the school granting the higher degree<br />
is the school that should process and award your<br />
student financial aid. Federal regulations prohibit<br />
students from receiving financial aid at more than one<br />
institution at the same time. If you request and receive<br />
financial aid from more than one<br />
school at the same time, you will be required to repay<br />
the funds to one school and will be ineligible to<br />
receive financial aid until the repayment has<br />
been made.<br />
What is a Consortium Agreement?<br />
If concurrent enrollment occurs, a consortium<br />
agreement must be completed to avoid the receipt<br />
of multiple financial aid payments. A consortium<br />
agreement is a written agreement between two or<br />
more eligible institutions which allows a student to<br />
receive aid while studying at a school other than the<br />
degree granting institution.<br />
The form is available through your degree granting<br />
school <strong>Financial</strong> <strong>Aid</strong> Office (also known as your<br />
home school), and should be completed by the<br />
school where you are taking additional course work.<br />
The combined enrollment at both institutions will<br />
determine your award. Once classes are completed<br />
you must send your transcripts from the host school<br />
to the home school. Under a consortium agreement,<br />
the school that awards the funds can either disburse<br />
funds directly to you to pay your other school’s costs<br />
or the school can send a payment directly to your<br />
account at the other school. The host institution will<br />
also notify your home school if there is a change in<br />
your enrollment status. If you are a visiting student<br />
attending Tri-C on a consortium agreement, it is your<br />
responsibility to make a payment with the Enrollment<br />
Center to ensure that your classes are not dropped<br />
for non-payment. Tri-C does not participate in<br />
consortium agreements as a home school, except for<br />
specific Tri-C sponsored study-abroad programs.<br />
Authorizing Non-Institutional Charges<br />
Tri-C allows you to charge tuition, fees, books and<br />
supplies to your student account. In addition to these<br />
institutional charges, other charges such as fines<br />
can accumulate on your account. However, you may<br />
authorize Tri-C to apply your student financial aid to<br />
charges on or to your student account. By answering<br />
YES on the Rights and Responsibilities form, you may<br />
authorizes Tri-C to use your Title IV (federal) funds<br />
to pay charges in excess of tuition, fees, books and<br />
supplies. Some examples of non-institutional charges<br />
are parking fees, bus passes, library fines, meals plans<br />
and any remaining funds will be refunded to you for<br />
in-direct college expenses.<br />
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Students can obtain the Student Rights and<br />
Responsibilities form at the Enrollment Center, The<br />
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarship office as well as<br />
on line at:<br />
http://www.tri-c.edu/financialassistance/Pages/Forms.<br />
Withdrawal Policy<br />
Tri-C’s Student <strong>Financial</strong> <strong>Aid</strong> & Scholarship Office<br />
encourages students to read and understand the<br />
withdrawal and repayment policy carefully. These<br />
policies affect your financial responsibility should<br />
you change your enrollment status. Students who<br />
are considering a withdrawal from all classes should<br />
contact their campus Student <strong>Financial</strong> <strong>Aid</strong> Office<br />
to determine how a change in status will affect their<br />
aid. Because financial aid funds are paid based<br />
on a student’s attendance, any change in status<br />
may cause a repayment of financial aid funds. The<br />
<strong>College</strong> understands that unforeseen events may<br />
occur in student’s lives that result in a student’s<br />
withdrawal from school. Due to these situations, it is<br />
very important that students understand this policy<br />
and follow the appropriate steps to withdraw when<br />
necessary. For more information and to obtain the full<br />
Withdrawal Policy, you can visit the Policies Page on<br />
the Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships website at:<br />
www.tri-c.edu/financialassistance/Pages/Policies.<br />
Return of Title IV Policy<br />
If you completely withdraw from all of your classes,<br />
you may be required to repay a percentage of the<br />
federally funded financial aid that you received to<br />
the U.S. Department of Education. Once you have<br />
dropped all of your classes, the <strong>College</strong> is required to<br />
calculate the aid that you received and days enrolled<br />
to determine if you will be required to repay federal<br />
financial aid funds. You may owe a portion of your<br />
federal financial aid to both Tri-C and to the U.S.<br />
Department of Education.<br />
The Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office<br />
will return either a portion or all of your federal aid<br />
to the U.S. Department of Education, based on the<br />
amount of financial aid that you did not earn. This<br />
will create a balance on your student account that<br />
you are responsible for paying. Any amount that<br />
you owe as result of your drop to zero credits must<br />
be repaid to the <strong>College</strong> within 60 days of the end<br />
of the semester. If you fail to repay the amount due,<br />
you will be reported to the Ohio Attorney General’s<br />
Office for collection. Students who owe a balance to<br />
Tri-C should contact the Enrollment Center on their<br />
campus for further information.<br />
In addition to owing a balance to Tri-C, you may also<br />
need to return a portion of your federal aid directly to<br />
the U.S. Department of Education. Any portion that<br />
you owe to the U.S. Department of Education will be<br />
reported as an overpayment and must be repaid prior<br />
to receiving and additional federal aid at Tri-C. This<br />
overpayment will appear on your Student <strong>Aid</strong> Report<br />
(SAR) and will also prevent you from receiving federal<br />
aid at any college or university in the United States.<br />
Students who owe an overpayment to the U.S.<br />
Department of Education are encouraged to contact<br />
the Department directly at 800-621-3115 to establish a<br />
satisfactory payment arrangement.<br />
In addition to repaying funds, failure to complete<br />
the courses for which you enroll may also affect your<br />
Satisfactory Academic Progress (SAP) status. Students<br />
who fail to complete the semester of enrollment<br />
may be placed on warning status or could lose their<br />
eligibility for federal aid.<br />
Students who apply for a Withdrawal Exception are<br />
also subject to the Return of Title IV Policy and may<br />
have to repay financial aid funds upon the submission<br />
of a Withdrawal Exception petition.<br />
Access to financial aid records<br />
Student may request a copy of their financial aid<br />
records. The Family Educational Rights and Privacy<br />
Act (FERPA) is a federal law that protects the privacy<br />
of student educational records. Students at Tri-C are<br />
given the right through FERPA to inspect and review<br />
their educational records. If you wish to receive a copy<br />
of your financial aid records at Tri-C, please request<br />
and submit the FERPA Record Release form to the<br />
Student <strong>Financial</strong> <strong>Aid</strong> & Scholarships Office. A copy of<br />
your records will be mailed to you within 45 days from<br />
the date submitted to the mailing address on file with<br />
the Admissions and Records Office. Please confirm that<br />
your address is correct before submitting this form. If<br />
your address is incorrect, your personal financial and<br />
educational information could be mailed to someone<br />
who may use it against you.<br />
21
FERPA<br />
The Family Educational Right and Privacy Act (FERPA)<br />
is a federal law that protects the privacy of student<br />
educational records. Students at Tri-C are given the<br />
right through FERPA to authorize a representative to<br />
receive financial aid information on their behalf. If a<br />
student wants to authorize the Student <strong>Financial</strong> <strong>Aid</strong><br />
& Scholarships to give information to other people<br />
(including parents), the student must grant access<br />
by completing the FERPA Release Authorization form<br />
in person.<br />
This form must be returned in person or via mail to<br />
the Student <strong>Financial</strong> <strong>Aid</strong> &Scholarships Office by the<br />
student and student must present picture identification<br />
at time of submission.<br />
22
Standards of Satisfactory Academic Progress (SAP)<br />
The Higher Education Act of 1965, as amended by Congress in 1994, mandates that a student receiving federally<br />
funded financial aid must be “making measurable progress toward completion of his/her course of study in order<br />
to continue to receive federal financial aid under the programs listed above.” The law further states that all credits<br />
attempted, since the first semester of enrollment, at an institution must be included, whether or not, federal<br />
financial aid was received.<br />
Satisfactory Academic Progress<br />
At <strong>Cuyahoga</strong> <strong>Community</strong> <strong>College</strong> (Tri-C ® ), a student is making satisfactory academic progress toward the<br />
completion of his/her degree provided the student is meeting the following standards. Students must maintain<br />
a cumulative grade point average (GPA) of 2.0 or higher, successfully complete at least 67% (or two-thirds) of<br />
courses attempted overall, and may not have attempted more than 93 total credits.<br />
General Satisfactory Academic Progress Standards<br />
Credits attempted including:<br />
Repeats, F’s, W’s, I’s, NP’s<br />
0-92<br />
Minimum Cumulative<br />
Grade Point Average<br />
2.0<br />
Required completion rate for all<br />
credits attempted<br />
67%<br />
NOTE: Effective July 1, 2011, students who have earned<br />
a semester grade point average of 0.0 (zero) will be<br />
immediately disqualified for student financial aid and<br />
be placed on a SAP disqualification status.<br />
Max Time Frame: All recipients of federally funded<br />
financial aid have a maximum of up to 93 attempted<br />
credits to obtain an associate degree. Transfer hours<br />
are included in the 93 total credits attempted.<br />
Remedial Courses: Up to thirty (30) attempted credits<br />
of combined remedial coursework and/or English as<br />
a Second Language (ESL) courses may be excluded<br />
from the 93 attempted credit limit and may be<br />
excluded from a student’s completion rate calculation,<br />
up to 30 attempted.<br />
Repeated Courses: Repeated courses are added into<br />
credits attempted and are used in the calculation of<br />
attempted credits verses completed credits.<br />
Graduates: After obtaining an associate degree from<br />
Tri-C, graduates are no longer eligible for additional<br />
federal financial aid without declaring educational<br />
purpose for additional federal financial aid by<br />
completing a Disqualified Graduate SAP appeal.<br />
Failure to maintain Satisfactory<br />
Academic Progress<br />
Failure to meet the rate of completion requirement<br />
and / or the grade point average requirement will<br />
result in the following:<br />
<strong>Financial</strong> <strong>Aid</strong> Warning: (After one (1) semester)<br />
1. Students who are not making satisfactory academic<br />
progress at the end of one term of enrollment will<br />
be placed on financial aid warning and will be<br />
notified of their financial aid status.<br />
2. During the term of financial aid warning, students<br />
are eligible for financial aid and are encouraged<br />
to re-evaluate their academic progression toward<br />
the completion of their course of study, obtain<br />
academic advising, and other academic support<br />
resources to support their academic success.<br />
<strong>Financial</strong> <strong>Aid</strong> Disqualification: (After two (2) or<br />
more semesters)<br />
1. Students who are not making satisfactory academic<br />
progress after at least two semesters of enrollment,<br />
will be placed on financial aid disqualification and<br />
notified of their financial aid status.<br />
2. Students who are placed on financial aid<br />
disqualification will be ineligible to receive federal<br />
financial aid for the next semester of enrollment<br />
unless they have an approved SAP Appeal.<br />
3. Students may appeal the disqualification of<br />
their federal financial aid by documenting any<br />
23
extenuating and/or mitigating circumstances<br />
that may have led to their inability to maintain<br />
satisfactory academic progress. Students who<br />
submit a financial aid appeal are not automatically<br />
reinstated for federal financial aid. The Student<br />
<strong>Financial</strong> <strong>Aid</strong> & Scholarships Office considers<br />
the students’ written appeal, other supporting<br />
documentation, and federal regulations when<br />
making a final determination of financial aid<br />
reinstatement.<br />
*Notifications of financial aid warning and financial<br />
aid disqualification will be sent only to students<br />
who were enrolled for the previous term and have<br />
a completed FAFSA application on file. However,<br />
all students will be evaluated each semester for<br />
compliance with the Standards of Satisfactory<br />
Academic Progress Policy. Students enrolled prior to<br />
Fall 2010 may have to submit a SAP appeal if they had<br />
been disqualified for financial aid under a previous<br />
SAP Policy, whether or not they have attended one or<br />
more semesters.<br />
SAP Status Notification<br />
Standards of Satisfactory Academic Progress are<br />
calculated at the end of each semester. If a student<br />
submits a FAFSA after the semester SAP evaluation<br />
process, SAP eligibility will be reviewed at the time<br />
the FAFSA is received.<br />
Additionally, student’s SAP will be re-evaluated upon<br />
the receipt and submission of late grades or change in<br />
grades. As a result, financial aid eligibility will be recalculated<br />
and adjusted. Students may be determined<br />
ineligible for financial aid and will be notified<br />
accordingly. If financial aid funds had been disbursed<br />
before grades had been submitted, the student may<br />
be responsible for returning funds based on this reevaluation<br />
of SAP.<br />
SAP status notifications will be sent to students<br />
who had enrollment for the previous term and<br />
have a completed FAFSA application on file for the<br />
previous term. However, all past and present students<br />
will maintain a current SAP status, whether or not<br />
students have received federal financial aid.<br />
* Notifications of financial aid warning and financial<br />
aid disqualification will be sent only to students who<br />
were enrolled for the previous term and have a completed<br />
FAFSA application on file. However, all students will be<br />
evaluated each semester for compliance.<br />
Maximum Credit Limit for <strong>Financial</strong> <strong>Aid</strong> Eligibility<br />
The maximum number of credits that can be<br />
attempted to complete an associate degree and<br />
receive federal financial aid is 93 credits. Students will<br />
receive a Warning status when they have attempted<br />
77 credits and thereafter. Students with 93 attempted<br />
credits are immediately disqualified for federal<br />
financial aid. To obtain additional federal financial<br />
aid a student may complete a Maximum Credit<br />
Limit appeal.<br />
Withdrawals, incompletes, and repeated courses are<br />
considered in the calculation of credits attempted.<br />
Audited courses are not included in the calculation of<br />
credits attempted.<br />
If a student has transfer credits, up to 73 of those<br />
credits are counted towards the 93 attempted credit<br />
limit, leaving the student 20 attempted credits to<br />
complete their degree at Tri-C, whereby additional<br />
credits request must be requested through the<br />
Maximum Credit Limit Appeal process.<br />
Disqualification Graduate (D-Grad)<br />
At the time in which any student earns an associate<br />
degree (AA or AS) at Tri-C, the student will be<br />
disqualified for federal financial aid and required<br />
to submit a SAP appeal to be considered for future<br />
federal financial aid eligibility. This status will be<br />
assigned to students who have been awarded a Tri-C<br />
degree, but may not have attempted 93 credits, in<br />
the event students wish to return to Tri-C for an<br />
additional degree. Students who wish to obtain a<br />
second degree must complete a D-Grad SAP appeal<br />
and declare a new major for further federal financial<br />
aid consideration.<br />
Appeal Process<br />
Federal regulations restrict those circumstances that<br />
may enable a SAP appeal from being successfully<br />
approved. Students should provide as much<br />
documentation as possible regarding unusual and/<br />
or mitigating circumstances with their appeal to be<br />
afforded full consideration. The Student <strong>Financial</strong><br />
<strong>Aid</strong> & Scholarship Office considers students’ written<br />
appeal, other supporting documentation, and federal<br />
regulations when making a final determination.<br />
Students who are on <strong>Financial</strong> <strong>Aid</strong> Warning are<br />
strongly encouraged to participate in a Satisfactory<br />
24
Academic Progress workshop experience. Workshops<br />
provide a thorough explanation of the SAP policy<br />
and the standards that each student is expected to<br />
maintain to remain eligible for federal financial aid<br />
through completion of their degree or program. In<br />
addition to documentation of unusual circumstances,<br />
which must be verified, attending a SAP Intervention<br />
workshop is a mandatory part of the SAP appeal<br />
process. Students who submit a SAP appeal are not<br />
automatically reinstated for federal financial aid.<br />
There are several reasons a student may file a SAP<br />
appeal. These include the following: death of a family<br />
member; disabling illness or injury to the student;<br />
disabling illness or injury of an immediate family<br />
member that required the student’s care; the student’s<br />
emotional or mental health issue that required<br />
professional care; or other unusual circumstances<br />
beyond the student’s control or progressive<br />
academic improvement. However, students who<br />
cannot demonstrate the ability to recover from<br />
prior poor academic performance and graduate<br />
before attempting 93 credits, will be unable to regain<br />
financial aid eligibility through the SAP Appeal<br />
process and will have to meet the overall standards<br />
of Satisfactory Academic Progress to have federal<br />
financial aid reinstated.<br />
A student must properly document the basis<br />
for his or her appeal in accordance with the SAP<br />
appeal requirements. A student should refer to the<br />
Satisfactory Academic Progress appeal form or speak<br />
with a Student <strong>Financial</strong> <strong>Aid</strong> Advisor for further<br />
information on the specific requirements of a SAP<br />
appeal.<br />
The decision of the Satisfactory Academic Progress<br />
Appeal Committee is final. Students may not reappeal<br />
the decision of the SAP Appeal Committee,<br />
unless additional information supporting original<br />
circumstances have been provided.<br />
Appeal Decisions<br />
<strong>Financial</strong> <strong>Aid</strong> Probation Status: Students with<br />
approved GPA/Completion Rate appeals must<br />
continue to earn a semester grade point average<br />
(GPA) of 2.5 or higher and semester completion rate<br />
of at least 67% (or two-thirds) to maintain continued<br />
eligibility for federal financial aid in each subsequent<br />
semester. Students on financial aid probation status<br />
for insufficient grade point average or insufficient<br />
completion rate must demonstrate progressive<br />
improvement toward their degree; however, students<br />
may not exceed 93 attempted credits while on<br />
financial aid probation and continue to receive federal<br />
financial aid. If a student on <strong>Financial</strong> <strong>Aid</strong> Probation<br />
reaches 93 attempted credits, the student will have to<br />
complete a Maximum Credit Limit Appeal.<br />
<strong>Financial</strong> <strong>Aid</strong> Probation Status: Students with<br />
approved Maximum Credit Limit appeals must<br />
continue to follow their prescribed degree plan and<br />
recommended courses associated with their declared<br />
major to continue to receive federal financial aid.<br />
Additionally, students are expected to complete their<br />
degree within the number of credits as defined by<br />
the Counselor as associated with the most recent<br />
Maximum Credit Limit Appeal. Students on financial<br />
aid probation status for maximum credit limit must<br />
demonstrate progressive improvement toward their<br />
degree by maintaining a cumulative grade point<br />
average (GPA) of 2.0 or higher and complete 100% of<br />
all courses attempted per semester in order to remain<br />
eligible for federal financial aid.<br />
Disqualification Status: Students who have not<br />
demonstrated mitigating circumstances for an<br />
approved SAP appeal and who cannot demonstrate<br />
the ability to recover from prior poor academic<br />
performance and graduate before attempting 93<br />
credits, will be unable to regain financial aid eligibility<br />
through the SAP Appeal process. Students will have to<br />
meet the overall standards of Satisfactory Academic<br />
Progress to have federal financial aid reinstated.<br />
Students may not re-appeal circumstances,<br />
which have already been denied unless additional<br />
documentation has been provided. Students who are<br />
placed on <strong>Financial</strong> <strong>Aid</strong> Disqualification will have<br />
their SAP status evaluated at the end of each semester<br />
of enrollment to determine if the student is complying<br />
with overall cumulative SAP standards to be returned<br />
to eligible SAP status.<br />
Please refer to the <strong>College</strong>’s Standards of Satisfactory<br />
Academic Progress Policy brochure, which is available<br />
on our website and at the Student <strong>Financial</strong> <strong>Aid</strong> &<br />
Scholarships Office on any campus.<br />
25
Paying Your Tuition Bill<br />
Paying your tuition<br />
You are expected to pay your tuition by the posted<br />
payment dates for each semester of enrollment. Tri-C<br />
provides several methods to secure your courses by<br />
the payment deadlines.<br />
Payment Options<br />
Cash<br />
• In person at the Enrollment Centers on each campus<br />
Personal Check<br />
• Online at my Tri-C space<br />
• In person or mail to the Enrollment Centers on<br />
each campus<br />
Credit Card<br />
• Online at my Tri-C space<br />
• Visa, MasterCard or Discover payment in person at<br />
the Enrollment Centers on each campus<br />
Tuition Loan Payment Plan<br />
Pay tuition bills in installments over the course<br />
of the term. Payment plans are offered in 3, 4 or 5<br />
installments.<br />
A $25 non-refundable processing fee is applied at<br />
the time of registration into a payment plan. Some<br />
restrictions apply. All installment payments can be<br />
made in person at the Enrollment Center, on-line<br />
or via mail. A late fee will be applied to each unpaid<br />
installment and additional charges may be incurred as<br />
a result of checks returned due to insufficient funds.<br />
If a you have met all the requirements for<br />
disbursement and the disbursed aid exceeds the<br />
<strong>College</strong> charges, you will receive a refund.<br />
<strong>Financial</strong> aid is disbursed or financial aid funds are<br />
applied to tuition charges for students with completed<br />
financial aid awards 35 days after the start of each<br />
session that you are registered to attend classes. The<br />
disbursed aid will show as a credit on your account<br />
balance in my Tri-C space.<br />
Student Accounting has up to 14 days after the credit<br />
appears on a student’s Tri-C account to initiate the<br />
refund process. A refund check will be mailed to the<br />
student’s local address or directly deposited into a<br />
bank account the student provided when registering<br />
for direct deposit. A student may use these funds to<br />
purchase books and supplies, and other education<br />
related expenses.<br />
If PLUS loan funds result in a credit on a student’s<br />
Tri-C account, a refund check will be sent in the<br />
parent’s name to the parent borrower’s address, unless<br />
the parent requests on the Federal Direct PLUS Loan<br />
Application that the refund be issued to the student.<br />
Note: Changes to financial aid or charges to a student’<br />
account after a refund is received could result in the<br />
student owing a balance to the <strong>College</strong>.<br />
Sign up online at my Tri-C space or visit Enrollment<br />
Centers on each campus.<br />
Receiving Excess <strong>Financial</strong> <strong>Aid</strong><br />
After we verify a student’s enrollment, class<br />
attendance has been reported by faculty and that all<br />
requirements are completed, financial aid listed<br />
on the eBill will pay directly to the student’s Tri-C<br />
account. For financial aid disbursement dates, see<br />
the Important Dates schedule on the <strong>Financial</strong><br />
<strong>Aid</strong> page of the Tri-C website http://www.tri-c.edu/<br />
financialassistance/Pages/ImportantDates.<br />
26
<strong>Financial</strong> <strong>Aid</strong> TV (FATV)<br />
Check out <strong>Financial</strong> <strong>Aid</strong> TV (FATV) – a collection<br />
of video clips providing quick answers to common<br />
financial aid questions. This online service is available<br />
24 hours a day, seven days a week online at:<br />
http://tri-c.financialaidtv.com.<br />
FATV provides students and prospects access to<br />
a library of video content specifically designed to<br />
provide information on all aspects and stages of the<br />
<strong>Financial</strong> <strong>Aid</strong> process and to answer questions about<br />
the various <strong>Financial</strong> <strong>Aid</strong> programs available at Tri-C.<br />
Videos provided to assist you include the following:<br />
• <strong>Financial</strong> <strong>Aid</strong> Basics<br />
• Applying for <strong>Financial</strong> <strong>Aid</strong><br />
• Eligibility<br />
• Understanding the FAFSA<br />
• New GI Bill<br />
• Loan Overview, Programs and Repayment<br />
• Tips on Saving and Borrowing Money<br />
• Satisfactory Academic Progress (SAP)<br />
27
<strong>Financial</strong> <strong>Aid</strong> Glossary<br />
Ability To Benefit (A-T-B): A U.S. Department of Education<br />
approved test for students who do not have a high school<br />
diploma or equivalent, such as a G.E.D who wish to<br />
receive federal financial aid. Students without a high<br />
school diploma or G.E.D must successfully past the A-T-B<br />
to be considered for federal financial aid.<br />
Alternative Loan or Private Loan: Non-federally funded<br />
loans that are provided through banks and other lending<br />
institutions, based on an approved credit check. Interest,<br />
fee, and repayment varies based on the lender and loan<br />
amount borrowed.<br />
Consolidation: With regards to repaying loans, this practice<br />
combines several educational loans into one new loan<br />
with a new payment schedule and interest rate.<br />
Consortium Agreement: A written agreement between two<br />
or more eligible institutions which allows a student to<br />
receive aid while studying at a school other than the home<br />
institution. (see also Visiting Student and Home School.)<br />
Cost of Attendance (COA): The total estimated amount it<br />
will cost students to go to school – usually expressed as a<br />
yearly figure. It is determined using rules established by<br />
United States Department of Education regulations and<br />
law. This figure determines the total aid a student may<br />
receive and cannot be exceeded.<br />
Data Release Number (DRN): A four-digit number assigned<br />
to Title IV federal student aid applicants. It is listed on the<br />
Student <strong>Aid</strong> Report<br />
Default: Failure to repay a loan according to the terms<br />
agreed upon when the promissory note is signed. For<br />
federal-based Title IV loan programs, default happens<br />
after 270 days of non-payment on the account.<br />
Deferment: An approved temporary suspension of loan<br />
payments based on certain events and criteria. (see also<br />
Forbearance.)<br />
Delinquency: Failure to make payments, when due on a<br />
student loan, as specified in the promissory note and in<br />
the selected repayment plan. Delinquency can lead to<br />
default.<br />
Dependent Student: A student is dependent if under the<br />
age of 24; not working on a master’s or doctorate degree;<br />
not married; not providing 51 percent support for their<br />
child; not providing 51 percent support for a dependent<br />
(a person other than their child or spouse); not an orphan<br />
or ward of the court until the age of 18; and not a veteran<br />
of the U.S. Armed Forces. A student who is considered<br />
dependent must provide parental information on the<br />
FAFSA.<br />
Direct Loan (DL) Program: A student loan program<br />
administered by the United States Department of<br />
Education. Participating schools allow their students to<br />
borrow directly from the federal government instead of<br />
from a private lender. Tri-C currently participates in the<br />
Direct Loan program. (see also Subsidized Loans, Title IV<br />
Funds and Unsubsidized Loans.) www.dlssonline.com<br />
Disbursement: The transaction that occurs when grant and/<br />
or loan monies are released to an account. This could<br />
include when aid is credited to pay a student’s balance<br />
at their college or when excess financial aid is released<br />
to a student in the form of a refund check for non-direct<br />
educational expenses.<br />
Expected Family Contribution (EFC): This is the estimated<br />
dollar amount a family can reasonably expect to<br />
contribute toward college costs. A federal calculation,<br />
the EFC is based on family earnings, assets, students in<br />
college and size of family. The actual amount a family will<br />
pay depends mostly on the cost of the school.<br />
Federal Work-Study (FWS): A program that provides jobs<br />
for students with financial need, allowing them to earn<br />
money to help pay educational and/or personal expenses.<br />
Generally, these positions are on campus or based within<br />
the community.<br />
<strong>Financial</strong> <strong>Aid</strong>: Any type of funding that helps students meet<br />
their educational expenses.<br />
<strong>Financial</strong> <strong>Aid</strong> Package: The total amount of financial aid<br />
a student will receive for the academic year detailed by<br />
aid program and award amount. It is based on full-time<br />
enrollment at Tri-C.<br />
<strong>Financial</strong> Need: The difference between the student’s Cost of<br />
Attendance (COA) and the family’s expected (EFC) ability<br />
to pay these costs. Need is reduced by the amount of aid<br />
awarded to a student.<br />
Forbearance: The approved temporary suspension or<br />
reduction of loan payments due to a financial hardship<br />
during which interest continues to accrue. (see also<br />
Deferment.)<br />
Free Application for Federal Student <strong>Aid</strong> (FAFSA): The<br />
basic form required for federal student aid and various<br />
scholarships. www.FAFSA.gov<br />
Freshman Grade Level: A freshman is a student who has<br />
completed between 0 and 29 credits. Loan amounts vary<br />
for students based on freshman and sophomore grade<br />
level.<br />
Full-time Status: A student is considered to be enrolled<br />
full-time when they are enrolled for 12 credits or more per<br />
semester.<br />
Grace Period: The period after a student graduates, leaves<br />
school (either officially or unofficially), or drops below<br />
half-time status before loan payments must begin.<br />
Grade Point Average (GPA): A student’s cumulative Grade<br />
Point Average is used to evaluate a student’s Satisfactory<br />
Academic Progress for <strong>Financial</strong> <strong>Aid</strong> and to evaluate a<br />
academic standing with the college. GPA may also be<br />
considered when determining eligibility for some grant<br />
and scholarship programs.<br />
Grant: Generally, grants are need-based and are provided<br />
by the United States Department of Education or state<br />
government and do not have to be repaid. (see also Title IV<br />
Funds.)<br />
Half-time Status: A student is considered to be enrolled halftime<br />
when they are enrolled for 6 to 8 credits per semester.<br />
Home Institution: With regard to consortium agreements<br />
and visiting students, the ‘home institution’ is the<br />
accredited school from which the student receives a<br />
degree and maintains primary enrollment (i.e. taking<br />
classes at Tri-C, but receiving a degree from Cleveland<br />
State University). (see also Visiting Student and<br />
Consortium Agreement.)<br />
28
Independent Student: Does not have to provide parent<br />
financial information on the FAFSA. A student is<br />
independent if age 24 or older, working on a master’s or<br />
doctorate degree; married; provides at least 51 percent<br />
support for their child; provides at least 51 percent<br />
support for a dependent (a person other than their child<br />
or spouse); an orphan or ward of the court until the age<br />
of 18; a veteran of the U.S. Armed Forces, or one who is<br />
currently serving on active duty.<br />
Interest: A loan expense charged to a borrower for the use of<br />
borrowed money. Interest is calculated as a percentage of<br />
the principal of the loan, which includes the original loan<br />
amount borrowed and any capitalized interest.<br />
Less Than Half-Time Status: Students are considered to be<br />
enrolled at a less than half-time status, when they enroll in<br />
5 or less credits per semester.<br />
Loan: Borrowed money that must be repaid with interest.<br />
Master Promissory Note (MPN): The legal and binding<br />
contract signed by the lender and the borrower. This note<br />
details all the terms and conditions of the loan, including<br />
the amount, interest rate and repayment obligations.<br />
www.studentloans.gov<br />
National Student Loan Data System (NSLDS): A database<br />
of federal student loan borrowers. If student borrowers<br />
want to find out information about their student loans,<br />
they may use the NSLDS <strong>Financial</strong> <strong>Aid</strong> Review service,<br />
operated by the United States Department of Education.<br />
By entering a social security number, date of birth, and<br />
PIN, the student will be able to access their current loan<br />
information online. www.NSLDS.gov<br />
New Student: Student who have not attended another<br />
college or university.<br />
Overpayment: Occurs when a student receives more aid<br />
than eligible to receive. This situation makes a student<br />
ineligible for Title IV financial aid and must be cleared up<br />
before they may receive additional funds.<br />
Parent Loan for Undergraduate Students (PLUS):<br />
Loans made to credit worthy parents of dependent<br />
undergraduate students through the Direct Loan program.<br />
(see also Title IV Funds.)<br />
Pell Grant: Pell Grants are awarded usually only to<br />
undergraduate students who have not earned a bachelor’s<br />
degree. The amount a student receives will depend the<br />
on financial need, the enrollment status (full-time or<br />
part-time) of the student, and whether the student plans<br />
to attend school for a full academic year or less. (see also<br />
Federal Supplemental Opportunity Grant and Title IV<br />
Funds.)<br />
Personal Identification Number (PIN): An electronic access<br />
code that serves as your identifier. The PIN allows access<br />
to your personal federal student aid information online<br />
from various U.S. Department of Education systems.<br />
www.pin.gov<br />
Principal: Used to indicate the total sum of money borrowed<br />
through a student loan. Loan principal includes the<br />
original amount borrowed plus any interest that has been<br />
capitalized.<br />
Regular Student Status: A student who is enrolled in a<br />
degree or certificate program at Tri-C.<br />
Returning Student: Students who have been away from Tri-C<br />
for at least one semester and have attended or earned<br />
credits from another college or university.<br />
Satisfactory Academic Progress (SAP): The level of<br />
academic achievement expected of a student in order to<br />
continue to receive financial aid.<br />
Scholarships: Awards that usually do not have to be paid<br />
back. They may be given to students who demonstrate<br />
or show promise of high achievement in areas such as<br />
academics, athletics, music, art or other disciplines.<br />
Generally, scholarships are monies that come from private<br />
individuals or organizations, not from the government.<br />
Sophomore Grade Level: A sophomore is a student who has<br />
completed 30 or more credits. Loan amounts vary for<br />
students based on freshman and sophomore grade level.<br />
Stafford Loans: The specific name of the educational<br />
loans made available to students through the Direct<br />
Loan Program. (see also Direct Loan Program, Interest<br />
Rate, Subsidized Loans, Title IV Funds and Unsubsidized<br />
Loans.)<br />
Student <strong>Aid</strong> Report (SAR): The SAR summarizes the<br />
information reported on the FAFSA. The schools students<br />
listed on the application receive electronic copies of the<br />
SAR and use the information to determine a student’s<br />
eligibility for federal financial aid.<br />
Student Assistant (SA): A program that provides jobs for<br />
students with no financial need. Students earn money to<br />
help pay educational and/or personal expenses. A SA will<br />
not have a federal work-study award.<br />
Subsidized Loans: These are loans on which the federal<br />
government pays the interest until the student enters<br />
repayment. Additionally, the federal government<br />
compensates for the interest while this loan is in a<br />
deferment status. After these periods end, payment of<br />
interest and capital is the obligation of the student/<br />
borrower. (see also Direct Loan Program, Interest Rate,<br />
Title IV Funds, Stafford Loans and Unsubsidized Loans.)<br />
Supplemental Education Opportunity Grant (FSEOG):<br />
These federal grants are for undergraduate students with<br />
exceptional financial need. Pell Grant recipients with the<br />
lowest EFCs will be the first to get FSEOGs. The amount of<br />
FSEOG a student may receive varies depending on when<br />
they apply, financial need, funding at the particular school<br />
and policies of the particular financial aid office. (see also<br />
Title IV Funds and Pell Grant.)<br />
Three-quarter Time Status: Students are considered to be<br />
enrolled three-quarter time if they are enrolled for 9 to 11<br />
credits per term.<br />
Title IV Funds: Federal financial aid programs authorized<br />
under Title IV of the Higher Education Act of 1965, as<br />
amended, and regulated and administered by the United<br />
States Department of Education. Generally, these funds<br />
may consist of both grants and/or loans, depending<br />
on the student’s particular situation. (see also Direct<br />
Loan Program, Grant, Pell Grant, Interest Rate, PLUS<br />
Loans, Stafford Loans, Subsidized Loans, Supplemental<br />
Educational Opportunity Grant and Unsubsidized Loans.)<br />
29
Transfer Student: Students who have attended and earned<br />
credits from another college or university and plan to<br />
enroll in courses at Tri-C.<br />
Unmet Need: When the combination of a student’s financial<br />
aid package and the family contribution do not cover<br />
the cost of attendance, the resulting gap is called the<br />
unmet need.<br />
Unsubsidized Loans: Loans on which the student is<br />
responsible for paying the interest from the date of<br />
disbursement until the loan is paid in full, regardless of<br />
enrollment status. The interest rate is the same as in the<br />
subsidized Federal Stafford Loan, but accrues from the<br />
time of disbursement. The student/borrower can either<br />
make periodic payments or the interest can be capitalized,<br />
at the time of repayment, which means that it will be<br />
added to the principal amount of the loan. (see also Direct<br />
Loan Program, Interest Rate, Stafford Loans, Subsidized<br />
Loans and Title IV Funds.)<br />
Verification: A process by which the student financial aid<br />
office substantiates the data that a financial aid applicant<br />
has reported on the FAFSA. Additional information from<br />
the student, a spouse, and/or parents is used to confirm<br />
previously submitted data.<br />
Visiting Student (Transient Student): A student who is<br />
currently enrolled in another accredited college or<br />
university and applies to Tri-C for a specified period<br />
of time to take courses as a visiting student. Generally<br />
speaking, a visiting student would expect to return to, and<br />
graduate from, their home school. (see also Consortium<br />
Agreement and Home School.)<br />
30
July 2011<br />
www.tri-c.edu/financialassistance