Financial Aid Puzzle
Kayla Randol & Erin Mercer
Student
Financial
Aid
Facts
It’s your right and responsibility to be aware of and understand this information
FAFSA: Have you applied?
Verification: I have been selected for verification what
do I do?
Award Letter : What is it?
Pell Disbursements: When, how and how much?
Books & Tuition: How do they effect your pell?
If you drop: You could owe money!
Student
Financial
Aid
Facts
It’s your right and responsibility to be aware of and understand this information
Earn your 2nd Check: I have to earn the 2nd check?
Satisfactory Academic Progress: What’s that?
Getting money back: What can I buy?
Student Loans: What you need to know!
Keep us posted: What we need to know!
Social Media: Stay connected with us!
FAFSA
Have you applied yet?
•
Step 1: Apply
•
Apply
Go to www.fafsa.ed.gov
•
School code: 011206
•
Step 2: School receives ISIR (Could take up to 1 week)
•
Application
Received
Step 3: Your application is processed
•
•
•
You have to be enrolled before we can award you
If selected for verification you will be notified
If not selected you will be awarded
Video
Application
Processed
Verification
I have been selected for verification what do I do?
VERIFICATION FORMS
•
TAX TRANSCRIPT
Verification forms will be
mailed to you. Once you
receive them fill them out.
The information that you put
on the form MUST be
accurate! Please read
carefully.
•
Return the forms to the
financial aid office
immediately!
The longer it
takes you the
longer it takes
us!
•
If you did not use the IRS DRT
then you are required to
bring a tax transcript in. Tax
transcripts come from the IRS.
To order one call 1-800-9089946 or go to www.IRS.gov. It
must be a TAX RETURN TRANSCRIPT. A
copy of your taxes will not
work.
Takes
approximately
5-10 business
days to
receive.
• You must have a VALID high school diploma/GED to receive
federal financial aid.
• If you are convicted for any offense while receiving federal aid,
under any state or federal law involving possession or sale of
illegal drugs, your financial aid will be suspended.
• You can NOT receive financial aid at more then one school.
Award Letter
What is it?
•
Award Letter: An offer from a college or career school
that states the type and amount of financial aid the
school is willing to provide if you accept admission and
register to take classes at that school.
Look for your award letter from PTC if you have any
questions stop by the financial aid office for assistance.
•
Pell Disbursements
When, how, & how much?
•
•
WHEN
New students: 1st
disbursement is
September 15th ,
2014
If you have not turned
everything in &
received an award
letter you will not be
receiving a check on
this date.
•
•
HOW
You will receive a letter including
information about your Pell disbursement
check. It will include the amount, date,
time, and location you must come to pick
up your check. If you do not receive a
letter with this information by the 10th of
the month, you may not be scheduled to
receive a check during that month.
•
•
HOW MUCH
New students: Your cost
of books & first tuition
payment will be
deducted from your 1st
disbursement. If there is a
remaining balance then
you will receive the
difference.
Books & Tuition
How do they effect your pell?
•
•
•
•
All books/supplies from PTC bookstore must be received by you before your 1st
disbursement.
You are responsible for tuition payments on or before the assigned due date for the
semester. If you are eligible for pell, tuition payments will be held from your pell
disbursements however if you become ineligible for pell at any time for any reason, you are
responsible for that payment.
Items received from the bookstore may be returned if unused or unopened within 60 days
of receipt. After the 60 day mark they are no longer returnable. Any books or items that
have been opened or used are not returnable. You must have a receipt for returnable
items.
Costs not covered by Financial Aid are your responsibility to pay. Non-payment on tuition
and/or books will result in hold on your transcript and grades. You will not receive your
transcript until the account is paid in full. Non-payment could also prevent future enrollment
at Pioneer Technology Center . Pioneer Technology Center will hold any amount charged
in the bookstore from your pell disbursement.
If you drop…
You could owe money!
R2T4
If you withdraw and do not
complete 60% of your pell payment
period you may owe money.
If you owe money you are required
to pay the amount owed to the
United States Department of
Education.
(A pell payment period is
considered to be 450 hours.)
40%
If you withdraw without being in
good standing in the financial aid
office, Pioneer Technology Center
will report that to the National
student Loan Data System.
If you plan on dropping it is very
important that you talk to Kayla. So
that she can do a calculation and
let you be aware of your risks.
Complete
60%
Earn your 2nd check
I have to earn the 2nd check?
•
•
•
During the 1st disbursement you are pre-paid. It will cover
450 hours if you are full-time and 225 hours if you are parttime.
To be eligible for the 2nd disbursement, the hours for which
you have already been paid must be completed. The two
things that must be completed: (1) attendance of at least
450/225 hours; AND (2) curriculum completion of at least
450/225 hours. The second disbursement cannot be made
until BOTH the attendance and the curriculum completion
requirements are met.
Additional disbursements will be made when you have
completed the hours for which you have already been
paid for.
Satisfactory Academic Progress
What’s that?
•
A student is in compliance with Federal Student Aid Satisfactory Academic
Progress requirements if the Percent of Curriculum Hours Completed meets or
exceeds the Percent of Clock Hours Completed; the Average Grade is a C or
better.
•
Sap is checked after each pell payment period.
•
Failure to meet SAP will result in termination of Pell.
•
If a student fails to maintain SAP, s/he will be notified in writing.
•
A student may appeal the initial termination of financial aid. The appeal form
will be included with the notification of funding termination. The student must
answer; why s/he failed to meet SAP standards, what has changed in his/her
circumstances, and what s/he plan to do differently from the past in order to
meet minimum SAP standards. The student has (10) working days from the date
of the notification to submit the appeals form and documentation to the
Financial Aid Officer. The appeal will be reviewed by the Financial Aid Officer
and an Appeals Committee.
Getting Money Back
What can I buy?
When completing the FAFSA you certify that you will use
federal/or state student financial aid only to pay the cost of
attending Pioneer Technology Center.
Student Loans
What you need to know!
•
PTC does NOT offer
student loans.
•
If you received a loan
from another school and
have went into default
you are not eligible to
receive financial aid at
PTC. (If you are in default
please visit with Kayla to
find out what your
options are.)
•
Student Loans can be
deferred while attending
school. (Get with Kayla)
Keep us Posted
What we need to know!
You must report any changes
in enrollment to the Financial
Aid Officer and the Bookstore
Manager as it may affect my
payment periods and/or your
Financial Award.
You must report any
scholarships, grants, or other
sponsorships to the Financial
Aid Office.
You must report any changes
is address, phone #, or legal
name to the financial aid
office.
Enrollment
Changes
Any scholarships or
grants
Change in
contact
information
Social Media
Stay in contact with us!
Financial Aid Puzzle
If you have any questions regarding financial aid
please call Kayla at 580-718-4228 or email her at
Kaylar@pioneertech.edu
If you have any questions regarding books or
tuition please call Erin at 580-718-4366 or email her
at Erinm@pioneertech.edu