Current as of October, 2005
Financial Aid
Handout From A Presentation
By Financial Aid Office Personnel
Key Points To Remember
When Students Change Enrollment Status,
It
May Affect Their Financial Aid
Ex: Full-time student drops
a class and changes status to ¾ time
Full-time student = 12 or more credits
¾ time student = 9 - 11 credits
½ time student = 6 - 8 credits
Less than ½ time = 1-5 credits
Advice: If a student is changing credit status,
Refer
Him/Her To Financial Aid.
Advisor Should Advise Students To Take Courses
Only Within Their Program Area
Example:
A student in the CAT
Program wants to take an Education class. Sounds good right?
Problem:
Students can only receive
financial aid for 150% of “normal” time needed to complete an associate
degree, diploma or certificate. If a student takes classes outside the
program area, all financial aid potentially could be used up before the
student completes the degree!!
Advice:
Stick To The Advising Guides (found in your handbook
or the web)
Student Has A Financial Aid
Question
Could be on nearly
anything that has
to do with financial aid: “What can I purchase with my loan check?”
“How long do I have before I start paying this loan?” “Are books covered
by my financial aid?”
Advice:
Refer That Student To The Financial Aid Office.
No One knows,
off the top of his or her head, what individual students are eligible to
receive. Each student’s financial aid package is unique. Two students may
have similar family income, but the financial aid package may be quite
different!
Refer… Refer… Refer… Refer.
Attendance: If a student withdraws from KVCC
without notifying the Financial Aid Office, there may be financial
consequences for both the student and the college.
Worst-case scenario:
A student receives a loan check, spends it, but is no longer attending
classes. The student did not notify the college of non-attendance nor did the
faculty members report the student missing. Now the student
must re-pay all or part of the
funds. KVCC must return these funds to the source even if the college is
unsuccessful in collecting the overpayment from the student. Now the student owes the
loan, has no training, and cannot return to any college until he/she resolves the
debt.
Advice: Notify
The Academic Affairs Office (Registrar) Whenever You Have A Student Who Is
Absent For The Equivalent Of Two Weeks (4 day classes or 2 night classes).
Also Turn In Your Attendance Reports When Asked In A Timely Fashion.
Advice: When
Your Advisees Are Considering Withdrawal And They Receive Financial Aid, They
Should Contact The Financial Aid Office Before Finalizing Their Decisions.
