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Financial Aid Puzzle Kayla Randol & Erin Mercer. Award Letter : What is it? Student Financial Aid Facts It’s your right and responsibility to be aware.

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Presentation on theme: "Financial Aid Puzzle Kayla Randol & Erin Mercer. Award Letter : What is it? Student Financial Aid Facts It’s your right and responsibility to be aware."— Presentation transcript:

1 Financial Aid Puzzle Kayla Randol & Erin Mercer

2 Award Letter : What is it? 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? Pell Disbursements: When, how and how much? Books & Tuition: How do they effect your pell? If you drop: You could owe money!

3 Getting money back: What can I buy? Student Financial Aid Facts It’s your right and responsibility to be aware of and understand this information Earn your 2 nd Check: I have to earn the 2 nd check? Satisfactory Academic Progress: What’s that? Student Loans: What you need to know! Keep us posted: What we need to know! Social Media: Stay connected with us!

4 Step 1: Apply Go to School code: Step 2: School receives ISIR (Could take up to 1 week) 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 Have you applied yet? FAFSA Application Received Apply Application Processed Video

5 VERIFICATION FORMS 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! 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 or go to It must be a TAX RETURN TRANSCRIPT. A copy of your taxes will not work.www.IRS.gov TAX TRANSCRIPT Verification I have been selected for verification what do I do? The longer it takes you the longer it takes us! Takes approximately 5-10 business days to receive.

6 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.

7 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. Award Letter What is it?

8 WHEN New students: 1 st disbursement is September 15 th, 2014 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 10 th 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 1 st disbursement. If there is a remaining balance then you will receive the difference. Pell Disbursements When, how, & how much? If you have not turned everything in & received an award letter you will not be receiving a check on this date.

9 All books/supplies from PTC bookstore must be received by you before your 1 st 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. Books & Tuition How do they effect your pell?

10 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.) 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. If you drop… You could owe money!

11 Earn your 2 nd check I have to earn the 2 nd check? During the 1 st disbursement you are pre-paid. It will cover 450 hours if you are full-time and 225 hours if you are part- time. To be eligible for the 2 nd 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.

12 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. Satisfactory Academic Progress What’s that?

13 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. Getting Money Back What can I buy?

14 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) Student Loans What you need to know!

15 Enrollment Changes Any scholarships or grants Change in contact information 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. Keep us Posted What we need to know!

16 Social Media Stay in contact with us!

17 Financial Aid Puzzle If you have any questions regarding financial aid please call Kayla at or her at If you have any questions regarding books or tuition please call Erin at or her at


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