2011 - 2012 Student Calendar - Helena College of Technology

Financial AidFinancial aid administered by the Financial Aid Office atthe University of Montana-Helena College of Technologyis based on an evaluation of academic accomplishments,financial need, and availability of resources. Students mayqualify for UM-Helena scholarships, awards and grants orfederally sponsored grants, work, and loans. Informationabout eligibility, applying for and accepting aid, and types ofaid are outlined in this section. Some general points:• Scholarships are awarded for each academic year.• Awards are usually made in the spring for the followingacademic year.• UM-Helena does not discriminate on the basis ofrace, sex, color, creed, or national or ethic origin in theadministration of its scholarship program.• All scholarships administered by the College are dividedevenly between fall and spring semesters.• Scholarships are not awarded during the summersession.• Recipients of selected awards must inform the donorand/or Financial Aid Office of their acceptance.The following is an example of how financial aid is determined.The cost of attendance is determined by the College inFebruary of each year for the following academic year.The cost of attendance for a full-time student includes thefollowing factors. The dollar amounts are for this exampleonly.Tuition and Fixed Fees $ 3,000Room and Board Allowance $ 7,000Personal Expense*Allowance $ 5,000Total Cost of Attendance $15,000*The estimate includes allowances for books,supplies, transportation, and personal expenses.If the student has applied for federal aid, UM-Helenaaccesses the estimated family contribution (EFC) informationelectronically from the federal processor. If UM-Helena isnot indicated on the FAFSA as a school that should receivethe Student Aid Report (SAR), the student must submit acopy of the SAR to the Financial Aid Office or contact thefederal processor and request that UM-Helena be added. TheCollege’s code is 007570.UM-Helena subtracts the EFC amount from the cost ofattendance. The resulting amount is financial need as perfederal eligibility guidelines.The calculation is as follows:Financial Aid Cost of Attendance $15,000Less: Calculated EFC (assume $2,000) $ 2,000Calculated Financial Need $13,000Financial aid packages are developed using informationavailable at the time of packaging and may be revised ifenrollment status and/or financial status change.Eligibility Requirements for Federal Aid• Accepted to UM-Helena as a degree-seeking student.• Completed the Free Application for Federal Student Aid(FAFSA) and submitted as soon as possible after the firstbusiness day in January. The information should be sentto UM-Helena, Title IV Code 007570. A FAFSA must becompleted each year the student applies for financial aid.Note: Submitting a FAFSA ensures that a studentwill be considered for all financial assistance fromUM-Helena and the federal government. However,submitting a FAFSA is not mandatory.• The student should review the Student Aid Report (SAR)sent by the processing center and submit necessarycorrections to the Financial Aid Office.Financial Aid NotificationStudents who have been accepted for admission for whomthe College has received results of the FAFSA on or beforeMarch 1st will receive need-based financial aid packages onor about May 1st. The packages will contain all financial aidawards offered by and through UM-Helena with directionsas to how to accept and receive the awards. After May1st, students will receive financial aid packages as they areadmitted to the College and the results of the FAFSA becomeavailable.Approximately 30% of all FAFSA applicants are selected fora process called verification by the Department of Education.In this process, UM-Helena will be comparing informationfrom the FAFSA with signed copies of the student (and/or parent’s/spouse’s) federal tax forms, W-2 forms, or otherfinancial documents. The law requires the college verify thisinformation before awarding federal financial aid. If thereare differences between the FAFSA information and suppliedfinancial documents, UM-Helena will make correctionselectronically and notify the student in writing.Verification must be completed no later than 14 days prior tothe end of the first semester of enrollment. A student’s failureto complete verification will result in the cancellation of allfederal and institutional need-based aid. In addition:• No federal aid will be released until verification iscompleted.• Students employed under the federal or state work-studyprograms cannot work more than 14 consecutive daysfrom the beginning of the semester without completingverification.In some cases, the Financial Aid Office will re-evaluatefinancial aid awards based on special circumstances. Ifa student or student’s family have special needs or haverecently experienced unusual financial circumstances, theyshould contact the Financial Aid Office to obtain a SpecialCircumstance form.28 2011 - 2012 Academic Catalog UM-Helena College of Technology