Financial Aid


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  • Federal financial aid funds (Title IV Funds) are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, they may no longer be eligible for the full amount of Title IV funds that they were originally scheduled to receive.
  • Financial Aid

    1. 1. WE ARE HERE TO HELP YOU MEET EDUCATIONAL EXPENSES Federal Higher Education Act, Title IV  Federal Pell Grants  Federal Supplemental Educational Opportunity Grant (FSEOG)  Federal Work-Study Program  Federal Direct Loan Program  Federal Plus Loan Program
    2. 2. WE ARE HERE TO HELP YOU MEET EDUCATIONAL EXPENSES Florida Resident State Grants (Full Time, Fall & Winter terms only)  Florida Resident Access Grant (FRAG)  Florida Student Assistance Grant (FSAG) See student handbook for detailed information  _current.pdf
    3. 3. FINANCIAL AID PROCESSES To receive financial assistance  Initial interview  Provide documentation to determine eligibility  Assist throughout verification process  Complete applications properly  Provide FA with accurate information Verification policy  30% of all FAFSA’s are verified  Student will be notified by email, letter, or phone  Funds are not disbursed until required documentation received  Non-compliance results in being ineligible for FA  FA not responsible for reductions in funding
    4. 4. FINANCIAL AID PROCESSES Federal Direct Loan Program  Available to eligible students  Loan amount based on student grade level  Must be enrolled in at least 6 credit hours  Subsidized loan (based on estimated family contribution)  Federal government pays interest while student is in school  Unsubsidized loan  Interest accrues from the date of origination, students responsibility  Plus loan program  Parent borrowers for dependent students  Classification Credit Hours regarding FA  12 or more credit hours is considered Full Time  9–11 credit hours is considered ¾ Time  6-8 credit hours is considered Half Time  5 credit hours or less is considered Less than Half Time
    5. 5. FINANCIAL AID PROCESSES Registration for the next term thru MyHugo  Credit hours allowed  Quick Access Registration  Registration  Steps for registration (check these steps every term)  Step 2: Make financial arrangements  Click on My Documents  Locate the term date you are registering for  Verify how many credit hours FA will cover  Book amount thru eCampus  Repeat above steps to get to My Documents  Locate the term date for book voucher  Verify the amount you will have available for a book voucher  Book amount you are eligible for will be posted in eCampus
    6. 6. FINANCIAL AID PROCESSES Federal Direct Loan Program  Repayment generally begins 6 months  After student graduates  Withdraws  Enrolled in less than 6 credit hours  Ineligible for financial assistance established by Title IV guidelines  Student owes a refund on a grant  Default on prior student loan(s)  Borrowed maximum amount of funds
    7. 7. FINANCIAL AID CONSEQUENCES Impact of Withdrawal (Title IV funding)  Ineligible for federal funding  PELL Grant  Federal Supplemental Educational Opportunity Grant (SEOG)  Ineligible for state funding  Florida Resident Access Grant (FRAG)  Florida Student Assistance Grant (FSAG)  Withdrawal calculation  Determines the earned and unearned portions of Title IV aid  Begins the date the student ceased attendance based on the amount of time the student spent in attendance  If the amount of disbursed funds to the student is greater than the amount the student earned, unearned funds must be returned.  Could result in a balance owed to the school  See student handbook for further explanation;