Financial Aid Literacy

1. Financial Aid Literacy

2. FAFSA What does FAFSA stand for? Free Application for Federal Student Aid Who should complete the FAFSA? Anyone interested in attending college Where can I complete this? www.fafsa.ed.gov

3. Dependent or Independent? If I no longer live with my parents, can I complete the FAFSA without their information? NO Until you turn 24 years old – you are considered a Dependent student by the federal Government and youmust use parental biographical and financial information on the FAFSA unless one of these apply: • You can prove you were in a legal guardianship • You can prove that you were homeless • You are a Veteran • You are legally married • You have a child, that lives with you, and you completely support. (If you reside with your parents and they claim you and/or your child – You CANNOT claim this.If you pay child support to someone else for your child – you CANNOT claim this).

4. S A P What is SAP? Satisfactory Academic Progress SAP is based on: 1. GPA must be 2.0 or higher 2. Withdrawals 3. This is based on the semester GPA at Kilgore College .

5. G P A What is a GPA? Grade Point Average What is the difference : 1. Semester GPA - which is the grade point average for the semester only. 2. Cumulative GPA - is the grade point average for all the semester at the college that you are currently enrolled in. To be successful your GPA should always be at least a 2.0

6. Loans Student Loans are financial aid that MUST be repaid. There are 2 types: Subsidized Loans – This is need-based and the federal government pays the interest on the loan while you are attending school. Unsubsidized Loans – Interest starts accruing as soon as the college receives the money on your behalf.

7. Loans versus Pell Grant: What is the difference? • Loans MUST be repaid after the Grace period • If not repaid, and you enter default on your student loans, the federal government can and will: Garnish wages Federal tax refunds – garnished this if you are delinquent on your payments Social Security benefits Any other assets that you may have • The Pell Grant is free federal aid, as long as you complete your classes and make SAP. • You lose Pell Grant eligibility once you receive a Bachelors Degree • The Pell Grant is now limited to 18 semesters of eligibility • Financial Aid does NOT transfer from one college to another. You MUST go online to www.fafsa.ed.gov , log in, and add the new college code to your FAFSA, then resubmit it. Once the other college receives it they will request documentation from you to award aid there. • Aid must be cancelled at the other college.

8. Refund Not What you Expected? Who should you contact? If your refund amount is not what you thought or expected it to be, you need to contact the Cashier’s Office at 903-983-8108. They can assist you with explaining all your charges, adjustments, and financial aid credits.

9. E-Award • An E-Award letter is an Electronic Award Letter. • You will need to Accept/Decline all Financial Aid online on Campus Connect. This can be accessed at www.kilgore.edu and click on the Campus Connect link. • After you log on to Campus Connect: • Click on the “Student Information” tab • Scroll down and click on “Accept/Decline” • Make sure you choose the correct award • year from the drop down box – 11-12. • Review financial aid package • Accept/Decline • Read and carefully check the boxes • If you want loans, click on the link in the box that must • be checked. Complete the MPN and Entrance Counseling • Click the back arrow to get back to your E-Award • Click on the submit button

10. Where Can I Find Information About My Financial Aid? All information concerning your student account can be found on Campus Connect: • Financial Aid • Print your schedule • Add/drop classes • Unofficial transcripts • Degree audits • Change name/address – Registrar’s Office • Review/Pay account balance • Vehicle registration

11. What in the World is a Ranger Card? Student ID card Debit/MasterCard for Financial Aid refunds Need to access the KC Fitness Center Access to eat in the cafeteria if you purchased a food plan.

12. Game Time Divide room into 2 groups Play game and compete to win!!! 10 MINUTES

13. What Affects My Award Amounts & Refund? • Students are awarded Pell grants based on full-time enrollment – 12 or more credit hours. If you withdraw or you are reported/dropped by an Instructor for non-attendance from classes prior to the 12th class day, your Pell will be automatically be reduced or cancelled. Fulltime: 12 credit hours or more – entire amount awarded ¾ time is 9-11 credit hours – ¾ of Pell amount awarded ½ time is 6-8 credit hours – ½ of Pell amount awarded ¼ time is 1-5 credit hours – ¼ of Pell amount awarded • Students MUST be enrolled in at least 6 credit hours to receive loans. If a student withdraws or is reported/dropped from classes prior to the published refund date, the loans will be completely removed from their student account, as they are not eligible to receive them; and therefore the college must return them. The student will then owe a balance to the College for all charges.

14. Continued…. • Tuition and fees • Housing and Meal plans • Book and Supply charges made in the Book store. • Adjustments/Credits • Increases/decreases in Financial Aid; increase/decrease in grants, scholarships, loans added at a later date, and exemptions.

15. What is the ORD and Why is it Important? The ORD is the Official Reporting Date which is the federal census reporting date that gives data on all the students enrolled and attending class as of the 12th class day. This is important to you as it will affect your financial aid should an Instructor report/drop you for non-attending.

16. Financial Aid Suspension • No longer eligible for Pell/Grants • No longer eligible for Loans • No longer eligible for Scholarships • You must complete 12 hours with a 2.0 GPA and pay for those hours yourself to regain financial aid eligibility

17. Financial Aid Probation Why am I on Probation? • Withdrew from too many classes • Semester GPA is below 2.0 What Does this mean? • You will still receive aid, however there are consequences. • The next semester that you enroll, you must complete it with a 2.0 GPA or face suspension. • You must be careful about the number of classes you withdraw from or get dropped from by an Instructor.

18. Complete Withdrawal of Classes • You will be placed on Suspension automatically at the end of semester – there is no probation! • You may possibly owe money to the college, depending on the withdrawal date.

19. Who is My Financial Aid Counselor? • Last name begins with A – E Mary Smyser 903-983-8183 msmyser@kilgore.edu 2. Last name begins with F - K and all athletes/veterans Jackie Kelley 903-983-8171 jkelley@kilgore.edu 3. Last name begins with L – Sl Marianne Currans 903-983-8641 mcurrans@kilgore.edu • Last name begins with Sm – Z Dwayne Tyner 903-988-3733 dtyner@kilgore.edu • All Longview Campus students Crystal Taylor 903-988-3790 crtaylor@kilgore.edu • Scholarship & Work-study Beverly Davis 903-983-8210 bdavis@kilgore.edu

20. Who Do I Need to Contact? If something happens due to: • Illness • Accidents • Medical problems • Issues with children • Child Care issues • Transportation issues • Death in the family Who should I contact to discuss my academic options? Your Instructor(s) Please note that none of these issues will prevent you from jeopardizing or losing your financial aid. • If I need: • a name or address change • Official Transcripts • Other academic records • Apply for Graduation • The Registrar

21. Thank You We sincerely appreciate you choosing Kilgore College for pursuing your academic goals. We hope that this Literacy Counseling has helped answer any questions that you may have and enlightened you on several of the acronyms, federal rules/regulations, and school policies that apply to Financial Aid. If we can assist you with any additional questions or concerns, please contact your personal Financial Aid Counselor or our front desk at 903-983-8211.