Financial Aid [email protected]@lfcc.edu / 540-868-7130

Financial Aid

[email protected] / 540-868-7130 / www.lfcc.edu/finaid

Lord Fairfax Community College

mailto:[email protected]

Set up Departme

nt of Education

PIN number

for student

(and parent)

Fill out FAFSA on the Web•Recommended to use IRS Data Retrieval Tool to import Tax Return Information into FAFSA

FAFSA Processes Application sends

confirmation e-mail

College Receives

FAFSA Informatio

n

College Processes

FAFSA

College Checks

Financial Aid

Eligibility (Type of Award(s) & SAP)

College Awards

Financial Aid

Financial Aid Office

and Business

Office Reconcile Accounts

2800-906-LFCC / www.lfcc.edu

Financial Aid Process

Financial aid is funding provided to students and families to help pay for postsecondary educational expenses.


What is Financial Aid?

Complete ASAP using the 2012-13 FAFSA with your 2011 tax return


When to Apply

Complete the Free Application for Federal Student Aid (FAFSA) form

1. www.pin.ed.gov Student Parent

2. www.fafsa.gov

Complete application online and submit online.


How To Apply



Social security card and driver’s licenseW-2’s from the previous tax yearCompleted 2011 tax return

Self Spouse Parent(s)


What Is Needed

LFCC’s School Code: 008659

Untaxed income (child support, combat pay)

Veteran’s, military or clergy benefits/allowances

Business or farm records

Investments and checking/savings account balances

Alien registration number if not a U.S. citizen


What Is Needed

LFCC’s School Code: 008659

While completing FOTW, applicant may submit real-time request to IRS for tax data

IRS will authenticate taxpayer’s identity

If match found, IRS sends real-time results to applicant in new window

Applicant chooses whether or not to transfer data to FOTW


IRS Data Retrieval Tool _________________________________________________

FEDERALPell Grant

Federal Supplemental Education Opportunity Grant (FSEOG)

Federal Work-study Program


Financial Aid Programs_________________________________________________

FEDERALPell Grant

Actual award amount is based on the number of credits in which you are enrolled.



Enrollment Status Credits Needed

Full Time 12 Credits +

Three-quarters (3/4)Time 9-11 Credits

Half (1/2) Time 6-8 Credits

Less than Half Time 1-5 Credits

FEDERALFederal Supplemental Education Opportunity

Grant (FSEOG)

Out of state students only

Must be enrolled in at least 6 credits

Federal Work-study Program

Employment on campus with most positions average 10-15 hours a week.



*STATECommonwealth Award (COMA)Part-time Tuition Assistance Program (PTAP)Virginia Guaranteed Assistance Program

(VGAP)

*All state programs have limited funding – it is best to apply early to get the maximum award for which you are eligible.



*STATE

Commonwealth Award (COMA)•Only for legal residents of VA •Must be enrolled in at least 6 credits



Financial Aid Programs

*STATE

Part-time Tuition Assistance Program (PTAP)•Only for legal residents of VA •Must be enrolled in 1-8 credits




*STATE

Virginia Guaranteed Assistance Program (VGAP)• Provides funds to graduating high school seniors • Dependent only students• Must be enrolled full-time (12 credits)• Minimum GPA: 2.5




VETERANSDepartment of Veterans Affairs benefits

Virginia Military Survivors and Dependents Education Program

Veterans Affairs Coordinator:

Kelsey Byard ([email protected])


Other Financial Assistance

TUITION PAYMENT PLANRequires a down payment and an enrollment fee

Not a loan – no interest is charged

The earlier you sign up, the longer the payment period

www.lfcc.edu – select F.A.C.T.S. from the Quick Links menu


Other Financial Assistance


Money students and parents borrow to help pay college expenses

Repayment usually begins after education is finished

Only borrow what is really needed

Look at loans as an investment in the future


Loans

Subsidized Stafford Loan

Unsubsidized Stafford Loans

Parent PLUS Loan


What types of loans are offered?

For students with demonstrated financial need, as determined by federal regulations.

Interest is charged while a student is in school at least half-time (6 credits), during the grace period, and during approved deferment periods.


Subsidized Stafford Loans

Not based on financial need

Interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.


Unsubsidized Stafford Loans

Unsubsidized loans for the parents of dependent students.

Help pay for education expenses up to the cost of attendance minus all other financial assistance.

Interest is charged during all periods.


Parent PLUS Loan

Parents may defer payments until 6 months after the student graduates or leaves school (must request this option)

This loan is the parent’s responsibility – it cannot be transferred to the student.

Credit check required; cannot have adverse credit history


Parent PLUS Loan

www.lfcc.edu/scholarshipsApply once each year• Jan – March application awards for upcoming fall and spring

All award notifications are sent to your LFCC student e-mail address.

Must have the 2013-14 FAFSA completed as you will need to provide the EFC # on the scholarship app.


Scholarships

Awards based on:Essay ratings – be sure to spell check!

Current GPA (college or high school)•Must submit high school transcript if you have never attended LFCC


Scholarships

Requirements for scholarships:• Program of study; locality; single parent; first-generation college student; etc.

Not all are merit based, some are based on financial need

Do not have to be full-time or have a high GPA**Unless required by scholarship donor. Minimum GPA to maintain award is a 2.0


Scholarships

Federal regulations require students receiving financial aid to meet Satisfactory Academic Progress (SAP) standards:

• GPA

• Completion Rate (must be at least 67%)

• 150% of program maximum

Take the classes you need. Pass the classes you take.

Utilize the drop and withdrawal dates in the academic calendar

Audited classes are not eligible for financial aid

If you stop attending classes, you may owe money back to LFCC


Satisfactory Academic Progress______________________________________________________________

GPA Requirement: Must maintain a certain GPA depending on the number of credits attempted

67% Completion Rate: Calculated by dividing the number of completed credits by the total number of credits attempted.

• Must be or exceed 67%

150% credit maximum: Cannot exceed attempting 150% of credits required for your degree program (including transfer credits)


Satisfactory Academic Progress

Credits Attempted

Minimum GPA

1-15 Credits 1.5

16-30 Credits 1.75

31+ Credits 2.0

If not meeting one or more of the SAP Standards, you will be notified via your LFCC student e-mail account.

If you do not submit a valid appeal letter by the due date all financial aid for the upcoming semester will be cancelled.


Satisfactory Academic Progress

BookstoreSpring bookstore accounts open through Feb. 11

(reminder for 2nd 8 week courses)

Loan only students have through Jan. 25

Copy of your schedule, student ID number and a photo ID are required

Limited to $1,000 per semester

Online ordering through Textbook rental is also offered

www.lfcc.edu/bookstore


Bookstore & Other Information

Other InformationAccounts will show pending or past due

until after the Financial Aid Office and the Business Office reconcile all accounts

Remainder checks are sent approximately half-way through the semester to your address on file


Other Information

?


Questions



Lord Fairfax Community College

Your Future. Our Focus.

Documents

Financial Aid [email protected]@lfcc.edu / 540-868-7130