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Financial Aid

Frequently Asked Questions...and Answers

  1. How can I obtain financial aid?
  2. What types of financial aid are available?
  3. When are Pell Checks ready?
  4. When can students obtain books?
  5. Must I repay my financial aid if I withdraw from school during the semester?
  6. What is the application deadline for financial aid?
  7. What financial aid is available for part-time students?
  8. What is a Hope Credit?
  9. How do I submit a written appeal to the Financial Aid Committee?
  10. Are scholarships available through the Virginia Western Educational Foundation?
  11. What other sources of financial aid are available?
  12. Who has access to the information on the forms filed as part of the financial aid application?
  13. If my parents are separated or divorced, do they both have to contribute to my education?
  14. How do I qualify to apply for financial aid as an independent student?
  15. What is my Expected Family Contribution (EFC)?
  16. What if I have a credit balance on my student account?
  17. How do I get a work-study job?
  18. What happens if I receive a work-study award and do not work?
  19. When do I apply for Summer Work-Study?
  20. Will I have to pay back any financial aid money if I drop out or withdraw from school?
  21. Will my financial aid award be reviewed while I am at VWCC?
  22. On which year's FAFSA is my eligibility for Summer Semester financial aid based?
  23. How do I apply for a Pell Grant?
  24. What do I do with a Student Aid Report (SAR) that I receive in the mail?
  25. Why did my financial need change from last year?
  26. What is the difference between the Business Office and the Financial Aid Office?
  27. If my or my family's current-year income will be drastically lower than last year's income that was reported on my FAFSA, what do I do?
  28. What is VWCC's Title IV Code?
  29. What is my Data Release Number (DRN)?
  30. What is a PIN?
  31. Where is my Award Letter?
  32. When will I receive my award?
  33. Can I enroll without an award?

1.  How can I obtain financial aid?

Most students apply directly over the Internet. Otherwise, a paper application may be obtained from the Financial Aid Office located in Chapman Hall Room C106. Students can obtain assistance in completing the form. The form must be submitted to the processing center for approval. Additional documentation, such as tax forms, may be required to complete the application process. It is advisable to apply as early as possible. (Students who apply late for financial aid may have to pay their own expenses and, if approved, obtain reimbursement.)

2.  What types of financial aid are available?

There are three kinds of financial aid at Virginia Western: grants/scholarships, loan, and work-study. Our largest program is Pell (1856 students received over $3.75 million in Pell Grant funds last year). The average cost of tuition and books for a full-time student at Virginia Western is around $1,500 per semester, and the maximum Pell award is $2,155 per semester. Other types of aid often supplement Pell Grants.

3.  When are Pell Checks ready?

First, federal funds must be ordered once Student Aid Reports have been processed and the U.S. Department of Education provides authorization. Usually the initial disbursement is 6-8 weeks into the semester.

Subsequent disbursements are made periodically throughout the term.

4.  When can students obtain books?

Textbooks and supplies can be charged to the student's financial aid award beginning on the second day of classes and continuing through the drop/add period. The student must be enrolled for at least 6 credits.

5.  Must I repay my financial aid if I withdraw from school during the semester?

A student who withdraws from all classes during the first 60% of the semester very frequently has to repay a portion of the financial aid that he or she has received. The amount of repayment is influenced by the date on which the last course withdrawal took place. A similar calculation is performed in those cases where the student ceases attendance in all courses, whether or not he or she has actually submitted a formal notice of withdrawal.

6.  What is the application deadline for financial aid?

Students should apply as early as possible to allow sufficient time for processing (generally 4-5 weeks). Additional time may be required if corrections and/or verification are necessary. Applications which have been processed by May 31 will receive priority for state grants (these funds are limited). For some types of aid, such as Pell Grants and Stafford loans, students can apply anytime during the year. However, they should be prepared to pay for tuition and books, and receive reimbursement, if their application cannot be processed within seven days prior to the start of classes.

7.  What financial aid is available for part-time students?

With the exception of some scholarships, which are restricted to full-time students, students enrolled for at least 6 credits receive consideration for most types of financial aid provided at Virginia Western. The Pell Grant program and PTAP, a state grant program, are also both available to students taking fewer than 6 credits.

8.  What is a Hope Credit?

This is a tax credit, which can be taken by eligible students for tuition paid during the freshman and sophomore years, up to a maximum of $1,500.

9.  How do I submit a written appeal to the Financial Aid Committee?

You should fully explain your extenuating circumstance, in letter form, and submit this directly to the Office of Financial Aid.

10. Are scholarships available through the Virginia Western Educational Foundation?

Community citizens, companies, and organizations generously provide the money to fund scholarships. Annual awards are disbursed from over 40 separate scholarship programs. A complete listing of the scholarships, with their criteria, is available in the Foundation Office located in Fishburn Hall. The applicant's academic major and past academic performance are strongly considered, with financial need sometimes also being an essential criterion. An application form, common to all programs, must be completed and forwarded to the Foundation Office. You are encouraged to visit the Foundation website.

11. What other sources of financial aid are available?

There are many local, state and national organizations that provide scholarship funds each year. Information about local scholarships can be obtained in the Financial Aid Office. To learn about other scholarships, you are encouraged to conduct scholarship searches on the Internet.

12. Who has access to the information on the forms filed as part of the financial aid application?

Only the financial aid office staff at VWCC has access to this confidential information.

13. If my parents are separated or divorced, do they both have to contribute to my education?

The custodial parent must complete the FAFSA. If that parent is remarried, information from the step-parent also is needed. The non-custodial parent is not required to report information.

14. How do I qualify to apply for financial aid as an independent student?

Seven questions are asked on the FAFSA to determine whether you are a dependent or independent student. For independent status, your answer needs to be "yes" to at least one of these questions. It is possible, in exceptional circumstances, for the school to override the criteria. If you are dependent but feel that you have an exceptional circumstance, you need to present this to the Financial Aid Officer.

15. What is my Expected Family Contribution (EFC)?

Expected Family Contribution (EFC) is the amount you and your family are expected to contribute toward your education. For dependent students, this amount is derived from income and asset information provided by you and your parents. For independent students, it is derived from your own income and asset information (and that of your spouse, if married).

16. What if I have a credit balance on my student account?

If you have a credit balance on your account (after tuition and textbook charges have been paid) you will be mailed a check 6-8 weeks into the semester.

17. How do I get a work-study job?

You must first complete a FAFSA form. Also, you must be enrolled in at least 6 credits. If you are interested in work-study participation, you need to inform the Financial Aid Office. Once all current positions are filled, a waiting list is formed. Students often drop or change jobs during the year, and so vacancies often arise. When and how do I get paid for my student job? You are paid bi-weekly for the hours that you have worked. A check is delivered to your work location. This is your money that you can spend as you see fit on education-related expenses, such as room and board, transportation, etc.

18. What happens if I receive a work-study award and do not work?

You do not get paid. You then simply need to cover your education-related expenses through other resources.

19. When do I apply for Summer Work-Study?

You should notify the Financial Aid Office as early as possible, preferably by the middle of Spring Semester.

20. Will I have to pay back any financial aid money if I drop out or withdraw from school?

If you receive federal financial aid and drop out or withdraw from school during the first 60% of the semester, you very likely will have to repay a portion of the financial aid that you have received.

21. Will my financial aid award be reviewed while I am at VWCC?

Each year you must re-apply for financial aid by completing the new FAFSA, so that changes in your family's financial situation and changes in VWCC's cost of attendance can be considered.

22. On which year's FAFSA is my eligibility for Summer Semester financial aid based?

Your eligibility for financial aid during Summer Semester is based upon the FAFSA that you completed for the preceding academic year (e.g., for Summer Semester, 2008, it would have been based upon your 2007 -2008 FAFSA).

23. How do I apply for a Pell Grant?

When you complete a FAFSA, you are automatically considered for a Pell Grant.

24. What do I do with a Student Aid Report (SAR) that I receive in the mail?

Submit it to the Financial Aid Office if you did not list VWCC on your original FAFSA application. If you did list VWCC on your application, we will receive your information electronically. In this case, you should just keep your Student Aid Report for your records.

25. Why did my financial need change from last year?

Since financial need represents the difference between the total cost of attending VWCC and the ability of you and your family to contribute, a significant change from one year to another results from a significant change in one of these two variables. Although the cost of attending VWCC typically increases from year to year, it does not do so in a drastic way. Therefore, there probably was a change in your family's financial situation (your income, your parents' income, number in household, etc.).

26. What is the difference between the Business Office and the Financial Aid Office?

These two offices are located in different locations and are separate from one another administratively. The Financial Aid Office awards grants, scholarships, loans, and work-study. The Business Office sends bills and collects payments for college charges not covered by aid.

27. If my or my family's current-year income will be drastically lower than last year's income that was reported on my FAFSA, what do I do?

Provide to the Financial Aid Office a written projection of total income for the current calendar year. Be as detailed as possible, including reasons for the reduction. Please note that total-year income must be included, and not just income since the change of income occurred. If you apply for financial aid again next year, your actual income for the current year will be needed at that time. This actual income will be compared to what is projected. In the case of a substantial difference, it is unlikely that a similar projection will be considered again, even if otherwise appropriate.

28. What is VWCC's Title IV Code?

Our Title IV School Code is 003760.

29. What is my Data Release Number (DRN)?

Your Data Release Number is a four-digit number assigned to your application by the U.S. Department of Education and printed on the top right corner of your Student Aid Report (SAR). Anyone wanting to receive or change your FAFSA information must have your DRN in order to do so. Do not give out your DRN to anyone unless you have agreed to give him or her access to your FAFSA information.

30. What is a PIN?

A PIN is the code that you need to sign your FAFSA electronically; retrieve your Renewal FAFSA information over the Internet, file your Renewal FAFSA using the FAFSA on the Web site, access the National Student Loan Data System (NSLDS) web site and view information about other federal student aid you may have received. Your PIN is similar in purpose to the PIN you use to access your bank account. To protect the privacy of the information you are submitting, you must keep your PIN secret. If you need a PIN, have lost or forgotten your PIN, or if you think someone else knows your PIN, you can request a new PIN.

31. Where is my Award Letter?

Students should log onto My VWCC. Awards are determined daily throughout the award year. Students must set their online preferences to the current award year. They then should be able to view their awards when these have been made. An award letter will also be mailed to the student. It is important that the student maintain a current and accurate address in My VWCC.

32. When will I receive my award?

Awards are based on the expectation of full-time enrollment. However, the awards will be adjusted after the last day for a tuition refund. Adjustments may take several weeks. After awards have been adjusted, they will be posted to tuition/fees. If there is any remaining balance, a residual balance check will be issued to the student approximately 6-8 weeks into the semester.

33. Can I enroll without an award?

You can enroll without an award if you are able to make payment on your own. If you are later eligible to receive an award, the funds will be provided to you as a retroactive award and a residual check will be mailed to you. If you cannot enroll without an award, you should continue to check My VWCC daily to see if an award has been posted.

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