Page 68 - Palo Verde College 2018-2019 Student Handbook / Planner
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                                NEED ANALYSIS The calculations 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 student’s resources to help pay for their education.
FSA ID FEDERAL STUDENT AID IDENTIFICATION: A username and password created by a student 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.htm.
REGISTERED DOMESTIC PARTNER Recent legislation extends new rights, benefits, responsibilities and obligations to individuals in domestic partnerships registered with the California Secretary of State under Section 297 of the Family Code. These new provisions apply to state funded student financial aid ONLY, and not to federal student financial aid.
RESIDENCY A California resident is one who has maintained a permanent residence in 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 progress toward your degree or certificate. You must meet the Financial Aid Department’s standards of satisfactory progress.
STATEMENT OF EDUCATIONAL PURPOSE/CERTIFICATION STATEMENT ON OVERPAYMENT AND DEFAULT You must sign this statement in order 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 EDUCATION 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.
UNMET NEED A student’s unmet need is determined by the following formula: FINANCIAL NEED — AID AWARDED = UNMET NEED
UNTAXED INCOME All income received that’s not taxed or may not be reported to the IRS, including Social Security benefits, welfare payments, untaxed capital gains, interest on tax- free bonds, clergy and military allowances and others.
VERIFICATION The procedure in which a college checks the information you report on the FAFSA, usually by requesting a copy of your (or your parents’) signed tax return and a Verification worksheet.
VETERAN For the FAFSA, a person who has engaged in active duty in the U.S. Armed Forces or is a National Guard or Reserve enlistee called to active duty, or was a cadet or midshipman at one of the service academies, and who was released under a condition other than dishonorable; or who’ll be a veteran by June 30, 2010.
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