Page 159 - CVTC 2022-2023 Student Handbook

Financial Aid
Students may be eligible for financial aid in the form of federal and state grants, federal loans, scholarships and/or the work-study program by completing the Free Application for Federal Student Aid (FAFSA) and following the steps below. Information is also available at www.cvtc.edu/financialaid.
Application Process
Step One:
Submit a Free Application for Federal Student Aid (FAFSA)
• GetaFSAID(FederalStudentAidID)–StudentsandParents(ifthestudentis dependent) need the FSA ID to sign the FAFSA electronically. Create a FSA ID here: fsaid.ed.gov.
• Getorganized.Gatherthefollowingdocuments:SocialSecuritynumber,driver’s license, income tax return for student and parent (if student is a dependent), bank statements and investment records.
• SubmitFAFSAonlineatwww.fafsa.gov.CVTC’sfederalschoolcodeis005304.
Apply for Admissions
Students must be accepted into a financial aid eligible program at CVTC to receive Financial Aid.
Step Two:
Return any forms or documents requested by the Financial Aid Office as soon as possible. All requests are sent to your CVTC student email account. Make sure to include the student’s CVTC ID number (@00******) on all documentation.
Step Three:
Award offer notification. Students receive their financial aid award notification via their CVTC student email account. The award is based on a student’s eligibility: Most students are eligible for federal loans, but also may be eligible for work-study, state and/or federal grants, and scholarships. Students will receive their award notification by the end of July for fall entry and by late November for spring entry if steps 1-2 above are completed by CVTC’s priority filing date.
CVTC’s priority filing date for the FAFSA is April 30. The priority filing date is not a deadline, but a goal date for students to receive the maximum amount of funding they are eligible for, and in time for course registration/book purchase. FAFSA information received after the priority filing date will still be accepted and processed, but award information may not be in time for students to charge tuition, fees and/or books to financial aid when registering for courses. Other payment options are available for students in this situation.
Step Four:
Receive Financial Aid. If an award package included federal or state grants, these funds will be automatically accepted on the student’s behalf.
If an award package included loans; and the student decides to accept the loans via the Student Information System (SIS), the student is required to complete the following steps at www.studentloans.gov and sign-in with their FSA ID:
• LoanEntranceCounseling(requiredonceforDirectloans)
• MasterPromissoryNote(MPN)(requiredonceeverytenyears)
Financial aid awarded funds are applied toward unpaid balance first, which includes charges on the automatic payment plan. If credited aid exceeds CVTC charges, the Cashier’s Office will refund the student within 14 days of the applied credit. If charges exceed aid, the student must pay the balance.
Eligibility
There are several things students need to understand to ensure they are eligible and continue to be eligible to receive financial aid throughout their programs.
157
PAYING FOR COLLEGE