08.04.2014 Views

Financial Aid 101 - Cuyahoga Community College

Financial Aid 101 - Cuyahoga Community College

Financial Aid 101 - Cuyahoga Community College

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

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 />

18


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 />

20


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

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!