AWARD LETTER NOTIFICATION GUIDE
2014-2015
3301 Hocking Parkway, Nelsonville, OH 45764-9588
T: 740.753.7061 E: [email protected]
Office of Financial Aid Services
Deneene Merchant, Director
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OVERVIEW
Congratulations on successfully completing the application for admission and financial aid processes! We are delighted that
you have chosen to attend Hocking College. Based on the Free Application for Federal Student Aid (FAFSA) results, the
Office of Financial Aid Services has prepared a financial aid package especially for you which include the maximum awards
possible to cover your total educational expenses. Depending on the type of aid you have been awarded, there may be additional
requirements that are necessary to ensure that you receive all expected funds.
Please be sure to read all information in this award notification guide to familiarize yourself with requirements and other
important information that will be helpful to you. If you have not yet received your award letter, contact our office today. A
Financial Aid Coordinator (FAC) is available to assist you Monday through Friday between the hours of 8:00am – 5:00pm,
with flexible office hours during peak enrollment. FACs have alphabetical assignments. Please see below:
LAST NAME BEGINNING
FINANCIAL AID COORDINATOR
A–M
PHONE#
EMAIL
Carrie Arnold
740.753.7056
[email protected]
N–Z
Jodie Lewis
740.753.7058
[email protected]
FINANCIAL AID SERVICES
Main Phone Line
740.753.7061
[email protected]
Master
Promissory
Note
Important Message for STUDENT Loan Borrowers
Entrance
Counseling
If order for your student loans funds to be disbursed into your student
account at Hocking College, you are required to complete a Master
Promissory Note (MPN) and Entrance Counseling. The Department of
Education will not release funds to the school until these requirements are
met.
WebAdvisor
Acceptance
INSTRUCTIONS FOR STUDENTS
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GO TO WWW.STUDENTLOANS.GOV
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ACCEPT YOUR AWARDS ON WEBADVISOR
CLICK ‘LOG-IN’ TO MY ACCOUNT
CLICK ON ‘SUBSIDIZED/UNSUBSIDIZED LOANS
COMPLETE THE MPN
COMPLETE ENTRANCE LOAN COUNSELING
YOU WILL NEED YOUR ESTIMATED FINANCIAL AID AWARD
AMOUNTS AND ESTIMATED BUDGET/COST OF
ATTENDANCE DURING THIS PROCESS
.
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Important Message for PARENT Loan Borrowers
Parents who wish to apply for a loan for their son or daughter may
borrower up to the student’s Cost of Attendance (COA) minus any
aid the student is eligible to receive. Repayment on the Parent
Loan for Undergraduate Students (PLUS) begins 60 days after the
last disbursement. The interest rate is 8.9%.
INSTRUCTIONS FOR PARENTS – PLUS APPLICATION
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GO TO WWW.STUDENTLOANS.GOV
CLICK ‘LOG-IN’ TO MY ACCOUNT
COMPLETE THE MPN
BEGIN THE PLUS APPLICATION PROCESS
A CREDIT DECISION WILL BE PROVIDED AT THE
COMPLETION OF THE APPLICATION
The Expected Family Contribution (EFC)
When you completed your FAFSA, the Federal Department of Education’s Central Processing System
(CPS) reviewed your application to determine the amount the government believes you and/or your
family should be able to contribute to your education. The FAFSA information also identifies whether
or not your information alone will be needed to complete this process or if your parent’s or spouse, if
applicable, information will be needed. The final formula calculates the EFC, and this number is used
to determine what types of financial aid you are eligible to receive and the amount. It is also used to
determine ‘Financial Need.’ Financial Need is determined by the following formula:
Cost of Attendance (COA) (tuition & fees, books & supplies, room & board and other miscellaneous expenses)
Your EFC
_______________________________
=
Your Financial Need
FEDERAL WORK STUDY:
If you received the estimated Federal Work Study (FWS) on your Award Letter, you have passed the initial
review to determine your eligibility for FWS. To confirm your eligibility and to be able to be assigned to a
position, you must visit Financial Aid Services to obtain additional information. If you do not complete this
process within three weeks of the semester, the award will be canceled and made available to other eligible
students.
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Types of Financial Aid
Primary Sources of Financial Aid
Gift Aid: Aid that you do not repay such as grants
and scholarships.
Self-Help: Federal work study is a student
employment program for students who
demonstrate financial need.
Loans: Both students and parents can borrower
loans to help pay educational expenses. These are
funds that must be repaid.
TYPES OF FINANCIAL AID
TYPES OF AID
ELIGIBILITY CRITERIA
MAXIMUM ANNUAL LIMIT
1.
PELL Grant
1.
EFC of $5157 and Under
1.
$5730
2.
Supplemental Educational
Opportunity Grant
2.
Pell Eligible and Financial Need
2.
$600
3.
Varies
3.
Varies
3.
Scholarships
4.
Demonstrate Financial Need
4.
$5500 Dependent (1t Year)
4.
Direct Student Loans
5.
Credit Worthiness
5.
Direct PLUS
6.
Credit Worthiness
6.
Alternative (Private) Loans
7.
Varies
7.
Agency Funding (i.e. WIA, VA, ETV)
$9500 Independent (1st Year)
5.
Up to Cost of Attendance Minus
Student’s Expected Financial Aid
6.
Up to Cost of Attendance Minus
Student’s Expected Financial Aid
7.
Varies/Up to Cost of Attendance
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Eligibility Criteria to Receive Federal Student Aid
In order to receive most types of financial aid, students must meet a set of criteria. Additionally, there are
minimum standards that students must achieve to continue eligibility for financial aid. Please see the list
below:

Be a U.S. citizen or eligible permanent resident (Acceptable visas: I-551, I-151, or I-94 if stamped
“refugee,” “indefinite parole,” “humanitarian parole,” “Cuban-Haitian entrance” or “asylum granted.”

Must have a valid social security number
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Be enrolled in an eligible program
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Not in default on a federal loan
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Not owing a refund on a federal grant

Registered with Selective Service (All males at least 18 years old and born after December 31, 1959)
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Have a High School Diploma, GED or equivalent based upon state exam

Maintaining Satisfactory Academic Progress (SAP)
IMPORTANT LINKS
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www.fafsa.ed.gov (Complete a FAFSA, View and/or make corrections to your Student Aid Report (SAR).
www.studentaid.ed.gov (Learn more about federal aid programs, eligibility criteria, and details on loans).
www.nslds.gov (Track your federal grant and loan history).
www.fastweb.com (Scholarship search).
www.careerinfonet.com (Career and salary information).
www.ss.gov (Register and/or confirm your Selective Service registration (males 18 – 25).
www.irs.gov (Request a Tax Return Transcript).
www.pin.ed.gov (Apply for a Personal Identification Number (PIN).