RVCCcatalog

What is Financial Aid?
Few students can afford to pay for college without some form
of education financing or assistance. Financial aid is money for
direct (tuition and fees) and indirect (books, supplies, reasonable
living expenses and transportation) college expenses. This
money comes in four forms:
• Grants which do not need to be paid back
• Scholarships which do not need to be paid back
• Loans which do need to be paid back
• Part-time jobs from which the student earns an hourly
wage also known as Federal Work Study
Students who are awarded financial aid may receive any or
all of these forms of aid.
Financial Aid is assistance available only for students matriculated
(formally accepted) in a financial aid-eligible degree
or certificate program.
To be awarded financial aid, the student must:
• Complete the FAFSA (Free Application for Federal Student
Financial Aid) www.fafsa.ed.gov. Our school code is 007560
• Demonstrate financial need as determined by federal or
state guidelines
• Submit any additional documentation the college may
request
• Eligibility for financial aid is based on the number of
credits for which a student is enrolled in a particular semester.
RVCC defines enrollment as:
• Full time = 12 or more credits per semester
• ¾ time = 9-11 credits per semester
• Part time = 6-8 credits per semester
• Students not planning to enroll at least half-time (6 credits)
should check with the Financial Aid Office to determine
eligibility.
• Maintain satisfactory academic progress (See Standards
of Satisfactory Progress at www.rivervalley.edu/admissions/financial-aid)
• Reapply for financial aid each academic year
A FAFSA must be filed each year. The financial aid year
begins with the summer semester at River Valley Community
College. The preferred filing date is April 1 for the upcoming
aid year. Students who meet this filing date will be considered
for all federal funds and state grants. Students who file after
this date will be considered on a fund-available basis.
To receive aid in future semesters, a student must meet
qualitative and quantitative standards for Satisfactory Academic
Progress for Financial Aid (SAP). These standards are
described below and in the College’s Financial Aid Handbook,
available online: www.rivervalley.edu.
Financial Aid
Satisfactory Academic Progress for Financial Aid (SAP):
Financial aid recipients must make Satisfactory Academic Progress
for Financial Aid in their current matriculated eligible program
to retain financial aid eligibility. The standards for SAP are
specific to the financial aid program, and are both qualitative
and quantitative. The standards measure a student’s cumulative
grade point average (CGPA) and his/her “incremental” progress
in terms of completing a minimum amount of work at stated
intervals. When a student is reviewed for SAP, all the student’s
enrollment periods at RVCC are included in the review. This
includes enrollment periods during which the student did not
receive financial aid and enrollment periods during which a student
did receive financial aid. Satisfactory Academic Progress is
reviewed by the Financial Aid Office at the end of each semester.
Students who meet SAP standards will retain eligibility for
student financial aid for the following semester. Students who
do not meet SAP standards will be placed on SAP warning for
one semester. At the end of the warning semester, the student’s
record will be reviewed. If the students meet SAP standards,
the student will once again be eligible for financial aid for the
following semester. If the student is still unable to meet SAP
standards, he/she will be ineligible to receive financial aid. The
student may appeal the decision. Please contact the Financial
Aid Office regarding the appeal process.
Maximum Timeframe Component: A student may receive
student federal aid for any attempted credits toward his or her
program of study as long as those credits do not exceed 150%
of the published length of the student’s program of study. For
example, a student enrolled in an eligible 24-credit certificate
program can received financial aid for up to 36 credits attempted.
Likewise, a student enrolled in a program of study
that requires 64 credits to earn the degree can receive student
federal aid for a maximum of 96 credits attempted.
Specific Satisfactory Academic Progress for Financial Aid
and the Maximum Timeframe Component policy information
is available through the Financial Aid Office and published in
the Financial Aid Handbook at www.rivervalley.edu.
Sources of Financial Aid
• Pell Grant is a federal grant for students who demonstrate
exceptional financial need. The Pell Grant does not have
to be paid back.
• Federal Supplemental Education Opportunity Grant
(SEOG) is for students who demonstrate exceptional financial
need. The SEOG does not have to be paid back.
• Federal Work-Study money is for educational expenses and
is paid by the school for on-campus and community-based
work. Students receive pay checks as work is completed.
• Federal Perkins Loan is a low interest loan.
• Federal Direct Loan Programs (DL) are low interest loans
and include Federal Direct Subsidized (non interest accruing
while in school), Federal Direct Unsubsidized
(interest accruing while in school) and Federal Direct
Parent Loans (PLUS).
8 2018 - 2019 River Valley Community College Visit our Website at: www.rivervalley.edu