I understand, any financial aid that was awarded to me in the form of grants (including the Pell Grant), scholarships, work-study, and/or loans will not be authorized or disbursed to my account until I have read and accepted KVCC's Financial Aid Terms and Conditions, accessing My Valley (VIP) account.
I realize my award letter could be altered if any of the following conditions occur:
- I have not completed verification requirements.
- Changes were made to my application information.
- An error was inadvertently made in determining my eligibility for, or the amount of aid awarded.
- Federal/State funding authorizations change.
- There was incorrect information filed with the Financial Aid Office.
- I received additional financial resources that must be reported to the Financial Aid Office.
- I am not maintaining Financial Aid Satisfactory Academic Progress.
- My enrollment status changes - full-time or part-time.
- I am receiving financial aid at more than one institution during the same enrollment period.
- I am not pursuing a certificate or associate degree program, as required for Title IV financial aid assistance. (Post Associate Certificate, Certificate of Achievement and Unclassified Programs are not considered eligible programs for financial aid)
- I did not accept my student loan or work-study award.
I understand (General Information):
- The Financial Aid Office is authorized to pay my tuition and fees from my financial aid award, unless I notify the office otherwise.
- I am not eligible for financial aid if I am still in high school and/or dual enrolled at KVCC.
- I must inform the Financial Aid Office if I will attend and receive financial aid at another college or university while also attending Kalamazoo Valley Community College.
- The information regarding the priority timeline for financial aid awarding at KVCC (www.kvcc.edu/finaid, go to Awarding Priority Dates)
- I am responsible for reading and understanding all applicable refund policies. This includes the KVCC Refund policy and the Return of Federal Title IV Refund policy. I know that tuition refunds may revert back to the appropriate financial aid fund, not to me.
- I must apply for financial aid each academic year. Forms are available January 1. (www.fafsa.gov)
- +I must complete a KVCC Summer Intent Form (in addition to the FAFSA) if I wish to be considered for financial aid for the summer semester. Forms will be available in mid-February.
- Summer awards will be based on full-time attendance for federal aid and will be adjusted based on my actual enrollment status.
- I will only receive one award letter via mail and should refer to My Valley (VIP) account for any changes to my financial aid eligibility.
I understand (Paying for Tuition, fees and books):
- I am required to pay balances owed to the College at the time they occur.
- How financial aid is paid (https://www.kvcc.edu/admissions/finaid/forms/CrBalRef-rev2.pdf)
- If I was awarded a student loan, there are actions that I must take to receive my loan (http://www.kvcc.edu/admissions/financial/loans)
- Financial aid credit balance/refunds will be delivered based on my refund preference as determined when I set up my Student Choice Refunds.
- I am responsible for any remaining balance that financial aid does not cover.
- If I was awarded funds through the Tuition Incentive Program (TIP), I have read the pertinent program information on the back of my award letter.
- If I was awarded funds through the Kalamazoo Promise Scholarship, I have read the KVCC Kalamazoo Promise Information (www.kvcc.edu/finaid/pdf/kalamazoopromiseinfosheet.pdf).
- If I was awarded Work-Study funds, I must access My Valley (VIP) account to accept or decline my Work-Study award and I have read the back of my award letter regarding important information when accepting the Work-Study program.
I Understand (Pell grant Payments):
- Federal Pell Grant awards are calculated based on full-time attendance and will be adjusted based on my actual enrollment status. Pell awards will be prorated for less than full-time enrollment as stated in the following table:
Status Credit Hour Requirement Pell % Full-Time 12 or more credits 100% 3/4 Time 9 - 11 credits 75% 1/2 Time 6 - 8 credits 50% Less than 1/2 Time 1 - 5 credits 20%-25%
Note: I know that depending on my eligibility level for the Federal Pell Grant program, I may be required to enroll for a minimum number of credit hours or I may not be eligible for Pell Grant funds at less than full-time status.
I understand (Attendance and Withdrawing from Classes):
- I must meet established Standards of Satisfactory Academic Progress to maintain eligibility for financial aid. (www.kvcc.edu/finaid, go to Revised Satisfactory Academic Progress Standards)
- My enrollment status is determined by the total number of credit hours I am enrolled for at the end of the drop/add period for the appropriate semester.
- Federal regulations require class attendance. To comply with this Federal requirement, instructors will be monitoring and reporting my attendance status. If I am reported as not attending I will be administratively dropped from those classes. In turn, my financial aid award will be reviewed to determine if the reduced number of credit hours will impact my financial aid eligibility. If an adjustment is required, the Financial Aid Office will revise my award and notify me of this action.
- Dropping classes may result in a loss or reduction of my financial aid eligibility, which could result in a balance owed to the college. I have read information regarding Class Attendance (www.kvcc.edu/finaid, go to Class Attendance).