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Financial Aid Terms and Conditions You must apply for financial aid each academic year. Forms are available January 1. The Financial Aid Office is authorized to pay your tuition and fees from your financial aid award, unless you notify our office otherwise. Please understand your award letter could be altered if any of the following conditions occur: You are not eligible for financial aid if you are still in high school and/or dual enrolled at KVCC. You must inform the Financial Aid Office if you will attend and receive financial aid at another college or university while also attending Kalamazoo Valley Community College. Enrollment status is determined by the total number of credit hours you are enrolled for at the end of the semester drop/add period. Federal regulations require class attendance. To comply with this Federal requirement, instructors will be monitoring and reporting your attendance status. Federal aid recipients reported as not attending will be administratively dropped from those classes. In turn, your financial aid award will be reviewed to determine if the reduced number of credit hours will impact your financial aid eligibility. If an adjustment is required, the Financial Aid Office will revise your award and notify you of this action. Dropping classes may result in a loss or reduction of financial aid eligibility, which could result in a balance owed to the college. Students are required to pay balances owed to the College at the time they occur. Federal Pell Grant awards are calculated based on your enrollment status. Please note that Pell awards will be prorated for less than full-time enrollment as stated in the following table:
Note: Depending on your eligibility level for the Federal Pell Grant program, you may be required to enroll for a minimum number of credit hours. Students with low Pell Grant eligibility may not be eligible for Pell Grant funds at less than full-time status.
You are responsible for any remaining balance that financial aid does not cover. You are responsible for reading and understanding all applicable refund policies. This includes the KVCC Refund policy and the Return of Federal Title IV Refund policy. You should note that tuition refunds may revert back to the appropriate financial aid fund, not to you. If your tuition and fees are paid, and your financial aid award is greater than the amount of your tuition and fees paid, this will result in a credit balance on your student account. This balance will be disbursed to you in the form of a KVCC Bookstore authorization, KVCC Parking Pass authorization, and/or a credit balance. Depending on when your credit balance occurs, will determine if you are eligible for an authorization and/or credit balance. Book and Supply Authorization: Book and supply authorizations will usually be available the week before the semester starts and continuing through the second week of the semester. (Refer to appropriate class schedule to determine the earliest date you can access your book and supply authorization). To access your authorization, you must be registered for the upcoming semester and have had your financial aid eligibility determined.Parking Pass Authorization: Financial aid eligible students will be authorized to apply parking pass charges against their financial aid balance. The Anna Whitten Hall (AWH) Student Service Center desk will be the exclusive site for processing financial aid parking pass authorizations. Students may purchase monthly or semester passes. Parking pass authorizations will be available during the same time period as book and supply authorizations. (See above).Financial Aid Credit Balance/Refunds: Credit balance/refunds are run weekly, and are available on Fridays beginning the fourth week of the semester. (Refer to appropriate semester-specific class schedule to determine the exact date when initial credit balance/refunds will be available). A credit balance/refund will be available if you have financial aid funds remaining after your tuition, fees, book and supply authorization or voucher and parking pass authorization have been deducted.Standards of Satisfactory Academic Progress: Students must meet established Standards of Satisfactory Academic Progress to maintain eligibility for financial aid. Students who attend KVCC must complete: 75% of the minimum credit hours required by the enrollment status used to determine the financial aid award with a minimum 2.0 cumulative grade point average. Standards of Satisfactory Academic Progress also require that financial aid recipients complete their Associate Degree or Certificate within the time frame which, by federal regulation, is 150% of the published length of the program; which is 93 credit hours. This also includes course work attempted and transfer credits. Private funded programs may require different progress standards. Refer to appropriate program guidelines or consult with Financial Aid Office staff.Summer Financial Aid Awards: If you wish to be considered for financial aid for the summer semester, you must complete a Summer Intent Form. (Forms are available in the Financial Aid Office and on our website beginning in February). The deadline to submit a Summer Intent Form is the first Friday in June.Summer awards are based on the enrollment status you indicate on your Summer Intent Form. If your actual enrollment differs from what you indicate on your Intent Form, your financial aid award for the summer semester may be adjusted. We encourage you to become familiar with KVCC’s Valley Information Portal (VIP) system. This will enable you to credit balance your financial aid information periodically through VIP for any changes to your financial aid eligibility. Kalamazoo Valley Community College Financial Aid Office — Texas Township Campus — Room 4530 — 6767 West O Avenue P.O. Box 4070 — Kalamazoo, MI 49003-4070 — Phone: 269-488-4340 — Fax: 269-488-4120 E-mail address: finaid@kvcc.edu — Web site: www.kvcc.edu TermCond.doc 28-Apr-2009 |
