Page 100 - Palo Verde College 2022-2023 Student Handbook / Planner

Financial Aid
STUDENT FAILS TO MEET TERMS OF AGREEMENT SIGNED WITH THE COLLEGE
When the determination is made that the student did not receive all the earned Title IV aid and the withdrawal date has been determined, the Financial Aid Office will send the student a letter offering the undisbursed financial aid. The student will be instructed to respond to the letter within 14 calendar days indicating whether the student wants the funds if the student requests that the earned Title IV aid be disbursed, a check will be ordered and made available for the student to pick up in the Student Services Office within 90 days of the college’s determination that the student withdrew. If the response from the student is received within 14 days, it will be honored. Any response received after 14 days will be late and a notice will be sent to the student advising him or her of the outcome.
GLOSSARY OF TERMS
CAHSEE State law, enacted in 1999, authorized the development of the California High School Exit Examination (CAHSEE), which students in California public schools would have to pass to earn a high school diploma. All California public school students must satisfy the CAHSEE requirement, as well as all other state and local requirements, in order to receive a high school diploma. The CAHSEE requirement can be satisfied by passing the exam or, for students with disabilities, receiving a local waiver pursuant to Education Code Section 60851(c) or receiving an exemption pursuant to Education Code Section 60852.3.
CITIZEN/ELIGIBLE NON-CITIZEN You must be one of the following to received Federal Student Aid: • U.S. Citizen or National
• U.S. permanent resident who has an I-151, I-551 or I-551C (Alien Registration Receipt Card) • Certain resident of Pacific Island
• Other eligible non-citizens (for details check with the Financial Aid Office)
COST OF EDUCATION The cost of education is the total amount it will cost a student to go to school. The total includes costs belonging only to the student for transportation and personal expenses.
DRN DATA RELEASE NUMBER A number located in the lower left corner of the SAR that is assigned to your application by the U.S. Department of Education.
EXPECTED FAMILY CONTRIBUTION (EFC) An amount, determined by a formula established by Congress, which indicates how much of your family’s financial resources should be available to help pay for school.
FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) A Federal Financial Aid Online Application that collects financial data on a student and/or parents for applicant’s aid need analysis. The website address is www.fafsa.ed.gov or you can apply by phone at 1-800-4-FED-AID (1-800-4333243).
FINANCIAL AID AWARD LETTER An award letter contains information on the types and the amounts of aid being offered to a student. The amounts reflect what a student will receive during the period of enrollment. There is an area to accept or reject any or all the aid offered. The award letter lists the cost of education, expected family contribution and financial need.
FINANCIAL NEED The difference between what you (and your parents, if dependent) can contribute to the cost of your education and the cost of going to the college of your choice.
GRANT A grant is financial aid that you don’t have to repay.
NEED ANALYSIS The calculation that the College Scholarship Services perform on the information contained in the students ’FAFSA.
These calculations help a college decide how much money is available from the students’ resources to help pay for their education.
FSA ID/FEDERA- STATE AID IDENTIFICATION A username and password created by a student for the first time they apply for federal aid. If you fail to remember your FSA ID, a request to retrieve your FSA ID can be done at https://fsaid.ed.gov/ npas/index.html.
REGISTERED DOMESTIC PARTNER Recent legislation extends new rights, benefits, responsibilities and obligations to individuals in domestic partnership registered to with the California Secretary of State under Section 297 of Family Code. These new provisions apply to state funded student financial aid ONLY, and not federal student financial aid.
RESIDENCY A California resident is one who has maintained a permanent residence in the state of California for the time of one year and one day or longer.
SATISFACTORY ACADEMIC PROGRESS To be eligible to receive federal student aid. You must maintain satisfactory academic progress towards your degree or certificate. You must meet the Financial Aid Department’s standards of satisfactory academic progress.
STATEMENT OF EDUCATIONAL PURPOSE/CERTIFICATION STATEMENT ON OVERPAYMENT AND DEFAULT you must sign this statement to receive Federal Student Aid. By signing, you are stating that you do not owe a refund on a federal grant, and that you are not in default on a federal loan. You are also agreeing to use your student aid for EDUCATIONAL RELATED EXPENSES ONLY. (Both statements are on the Free Application for Federal Student Aid [FAFSA]
STUDENT AID REPORT (SAR) a report form indicating a student’s eligibility for Federal Grants. 98