Presentation on theme: "PREVIOUSLY SOUTHSIDE VA TOBACCO LOAN FORGIVENESS PROGRAM AND SOUTHWEST BURLEY TOBACCO SCHOLARSHIP PROGRAM."— Presentation transcript:
PREVIOUSLY SOUTHSIDE VA TOBACCO LOAN FORGIVENESS PROGRAM AND SOUTHWEST BURLEY TOBACCO SCHOLARSHIP PROGRAM
SOUTHSIDE LOAN FORGIVENESS PROGRAM FY 03 – FY 124,669 STUDENTS TOTAL AWARDS $24,287,781. Residency based Enrolled in a degree-seeking program at a 4-year college or university, in-state or out-of state, public or private. $4,130 per year = Maximum award Employment in Southside Region = Forgiveness of 1 year of assistance after completing 1 full year of employment Not employed in Southside Region = Total repayment of assistance received.
One degree per person, per lifetime Repayment deferred as long as award recipient was enrolled in qualifying courses (Graduate School) One-year Grace Period after graduation from college to find employment Minimum monthly payment = $100 Up to 10 years to repay 4 local Community Colleges also receive funds
Jane Doe – 4 years of enrollment BS + 2 years of Graduate School + 1 year Grace Period + 10 years to repay = 17 years minimum to fully repay. Excludes Military Tenure, Medical Residency, etc.
SOUTHWEST BURLEY TOBACCO SCHOLARSHIP SOUTHWEST BURLEY TOBACCO SCHOLARSHIP FY 03 – FY 12 2,851 STUDENTS TOTAL AWARDS$9,430,398 Residency-based Enrolled in a degree-seeking program at a 4- year college or university, in-state or out-of state, public or private Direct linkage to former tobacco quota holder or grower Awarded as a scholarship/grant $2,750 per year Maximum Award Not a loan; therefore, neither repayment nor forgiveness attached.
One degree per person, per lifetime. 4 local Community Colleges also receive funds
Residency based – MUST be a legal resident of the United States, having lived within the footprint of the Virginia Tobacco Commission for not less than 12 months with no ties to any other state. Currently enrolled in a degree-seeking program at a 4-year college or university for a minimum of 6 semester hours or its equivalent. College or university can be public or private, in-state or out-of-state. MUST be in good standing with the college or university.
Applying College Freshmen MUST submit a copy of his/her college acceptance letter from the college/university he/she will attend. Southwest Virginia Residents MUST be a direct descendant (spouse, child, grandchild, step- grandchild) of a former tobacco quota holder or grower, during 1998 - 2004. Nieces or nephews are not considered direct descendants. Living on a farm does not make an applicant eligible for the Southwest scholarship.
AWARD AMOUNTS SOUTHSIDE TOBACCO LOAN FORGIVENESS PROGRAM: $4,130 per funding cycle (FA, SP, and SU semesters) SOUTHWEST BURLEY TOBACCO SCHOLARSHIP: $2,750 per funding cycle (FA, SP, and SU semesters) VIRGINIA TOBACCO REGION SCHOLARSHIP: $90 per semester hour or $100 per semester hour for Community College Transfers. Employment Bonus after graduation.
Assistance will be provided for tuition and academic fees ONLY. Virginia Tobacco Region Scholarship assistance is provided as a “Last-Dollar Effort”, i. e. any and all other financial aid that can be used for ONLY tuition and academic fees must be applied to the award recipient’s account before assistance received through this program. If no tuition or academic fee balance remains, no award will be issued under this program.
Any assistance that can be used for the “Total Cost of Attending College” should be applied to those other costs with the student’s account for tuition and academic fees marked PENDING for the award from the Virginia Tobacco Region Scholarship Program. Assistance will be provided for up to 120 semester credit hours. Repeated courses are not covered under this program.
AWARD GUIDELINES Once an applicant becomes an award recipient, he/she can receive an award for each year until graduation so long as eligibility requirements are met. Therefore, returning students will always be awarded as first priority. Second Priority will be given to Upcoming College Juniors and Seniors with a declared STEM-H major, including Community College Transfers, rank ordered by cumulative GPA Next are the Upcoming College Juniors and Seniors who are enrolled in declared majors other than STEM-H, including Community College Transfers, ranked ordered by cumulative GPA.
This priority is followed by Upcoming College Sophomores, rank ordered by GPA; and, Finally, Upcoming College Freshmen with an acceptance letter from a 4-year college, rank ordered by GPA. All awards are dependent upon funds remaining in the program. When all funds have been allocated, the respective program will be closed.
APPLICATION ENTERED ONLINE SUPPORT DOCUMENTATION RECEIVED AWARD IS APPROVED NAME OF APPLICANT ENTERED ON COLLEGE LISTING COLLEGE REP ABLE TO SEE LISTING REP VERIFIES ATTENDANCE AND ENTERS ENROLLMENT HOURS
FINANCIAL AID OFFICERS: CALCULATE AWARD FROM THE VIRGINIA TOBACCO REGION SCHOLARSHIP PROGRAM AS PART OF THE TOTAL FINANCIAL AID PACKAGE – NOT TO EXCEED “THE TOTAL COST OF ATTENDING COLLEGE”. INFORM STUDENT/PARENTS THAT PAYMENT FROM THE VIRGINIA TOBACCO REGION SCHOLARSHIP WILL NOT BE RECEIVED UNTIL AFTER YOUR LAST DROP/ADD DATE.
PROVIDE CORRECT E-MAIL ADDRESS FOR THE PERSON(S) AT YOUR COLLEGE OR UNIVERSITY WHO SHOULD RECEIVE CORRESPONDENCE FROM THE TOBACCO REGION SCHOLARSHIP PROGRAM. CURRENTLY, OUR CONTACT LIST IS MOSTLY MADE UP OF REPS IN STUDENT ACCOUNTS. IF YOU OR SOMEONE IN YOUR OFFICE WOULD LIKE TO RECEIVE THIS INFORMATION, SEND YOUR MAILING INFO TO email@example.com@swcenter.edu DETAILED INFORMATION LETTERS WILL BE MAILED THE LATTER PART OF JUNE, 2012.
STUDENT ACCOUNTS/BILLING STUDENT LISTING WILL CONTAIN ALL INFORMATION NECESSARY TO PROCESS PAYMENT, INCLUDING A STUDENT AUTHORIZATION COLLEGE/UNIVERSITY REP WILL LOG INTO STUDENT LISTING THROUGH A PORTAL, USING AN ASSIGNED PASSWORD.
COLLEGE REP WILL VERIFY STUDENT ENROLLMENT AND ENTER THE NUMBER OF ENROLLMENT HOURS FOR EACH STUDENT. WHEN ENROLLMENT HOURS ARE ENTERED, THE AMOUNT OF THE STUDENT AWARD WILL AUTOMATICALLY BE CALCULATED, BASED ON THE INFORMATION IN THE TOBACCO REGION SCHOLARSHIP OFFICE
WHEN THE ENROLLMENT LISTING IS COMPLETED AN EMAIL WILL BE SENT TO firstname.lastname@example.org, AND THE INVOICE PROCESSED AS USUAL. email@example.com IF AN AWARD RECIPIENT DROPS OUT OF SCHOOL, EITHER A FULL OR PARTIAL PAYMENT IS TO BE REFUNDED TO THE TOBACCO REGION SCHOLARSHIP PROGRAM BY THE COLLEGE OR UNIVERSITY. ANY REFUND WILL BE COLLECTED FROM THE STUDENT BY THE COLLEGE OR UNIVERSITY.
THE COLLEGE OR UNIVERSITY MUST INVOICE THE TOBACCO REGION SCHOLARSHIP PROGRAM. NO REFUNDS CAN BE MADE TO THE STUDENT.