FEDERAL STUDENT FINANCIAL AID PROGRAMS TITLE IV FEDERAL
PELL GRANT PROGRAM
The Federal Pell Grant Program provides direct grants from the U.S. Department of Education to the undergraduate student for educational expenses. Since it is a grant program, the student does not have to repay the amounts received AFTER completing 60% of the term. Federal Pell Grants will range in size from $0 to a maximum of $5,920 per year (amount subject to legislative changes). No eligible student will be denied a Federal Pell Grant. The award year at this institution begins the Fall Semester of each year and ends the Summer Semester of the following year.
To apply, the student, (and if applicable) parents and spouse must complete the Free Application for Federal Student Aid (FASFA). For aid to be processed in a timely manner, the Free Application for Student Federal Aid (FASFA)should preferably be submitted two (2) weeks before registration. IT IS HIGHLY ENCOURAGED THAT THE STUDENT COMPLETES THE FASFA ONLINE (LIMITED PAPER FORMS WILL BE AVAILABLE).
A student can apply using the Internet by the following:
- Obtaining an FSA ID from the U.S. Department of Education.
- Completing the FASFA or renewal FASFA at www.fasfa.ed.gov.
The Wallace Community College Selma federal school code is 009980. The electronic process takes approximately one week for approval. Once the student has a valid Institutional Student Information Record (ISIR), the Office of Financial Aid uses the guidelines set forth by the Department of Education to determine the amount of the grant award. This is accomplished by using the Expected Family Contribution (EFC) number on the ISIR, and the amount assigned to that number on the Pell Grant payment schedule for the current year. It should be noted that this institution does not determine eligibility requirements for a Pell Grant nor the amount of the grants. Awards are made at the time a student has a complete financial aid file. Also, this institution verifies each ISIR that has been selected for verification.
All credit balances in the student Pell Grant accounts are disbursed 14 calendar days from the first instructional day of each semester.
Students may be selected on a random basis by the federal government or the Office of Financial Aid to verify the following items:
(1) family income, (2) taxes paid, (3) family size, (4) number of family members other than parents attending a postsecondary institution, and (5) any other item identified by the Office of Financial Aid. Failure to submit the requested documentation will cause the student to forfeit entitlement to the financial aid. Students needing to correct their Student Aid Reports (SAR) as a result of verification will be notified at the time of verification or shortly thereafter by mail or email.
Students must have completed all required financial aid forms by the first day of the semester to avoid having to pay the initial cost of tuition, fees, books, and supplies themselves. Financial aid forms and materials submitted after the beginning of the semester will be processed as quickly as possible. Because FSEOG funds are limited, awards from these programs are made to the neediest Pell Grant recipients until funds are exhausted. In addition to Pell eligibility, preference is given to students with dependents. Federal Work Study is awarded on an ongoing basis to eligible students with an interest in, and the skills required for the job assignment.
Please Note: If a student’s schedule includes a mini-term course that begins midterm, the amount of the Pell Grant award may change when the mini-term begins. The Office of Financial Aid may be contacted to determine if there will be an adjustment to the Pell Grant award.
The Federal Government has identified, for student financial assistance programs, certain categories of students who must be considered Independent financial aid applicants. A student is considered an independent financial aid applicant if he or she meets one of the following criteria:
- Was born before January 1, 1989-(changes annually)
- Is a veteran of the U.S. Armed Forces
- Is on active duty in the U.S. Armed forces
- Is an orphan or ward of the court
- Is/was an emancipated minor
- Is/was in legal guardianship
- Has a legal dependent other than a spouse
- Is a married student
- Is a homeless child/youth
- Is determined homeless by HUD
- At risk for homelessness
- Has a child or children who receive more than half of their support from you.
An Independent financial aid applicant is not required to submit parental information in the application process; however, if the independent applicant is married, spousal information must be reported. A student who cannot meet at least one of the criteria is considered a Dependent Applicant and must provide parental information in the application process.
Federal Supplemental Educational Opportunity Grants (FSEOG)
FSEOG are for undergraduates with exceptional financial need, that is, students with the lowest Expected Family Contributions (EFCs). Priority is given to students who receive Federal Pell Grants. FSEOG does not have to be paid back. There is no guarantee that every eligible student will be able to receive an FSEOG award; students at each school will be awarded these funds based on availability at the institution. Students can receive a minimum of $100 and a maximum of $4,000 a year.
FEDERAL WORK-STUDY PROGRAM (FWS)
The Work-Study Program provides jobs for undergraduates and graduate students with financial need, allowing them to earn money to help pay educational expenses. The program encourages community service and work
related to each student’s course of study. The Office of Financial Aid determines who is eligible for work-study using the federal EFC from a valid ISIR and institutional cost of attendance. Work-Study applications are available in the Office of Financial Aid.
Students can earn at least the current minimum wage, but the amount may be higher depending on the type of work they perform and the skills required. The total Federal Work-Study award depends on when the student applies, the level of need, and the funding level of the school.
Awards are based on the amount of funds available and given to eligible students according to the priority date published in the school catalog.
Job sites are provided both on and off campus. If the student works on campus, the student is employed by the school. The employer for those students employed off campus will usually be a private non-profit organization or public agency.
The amount a student earns cannot exceed his/her total Federal Work-Study award. When assigning work hours, the Office of Financial Aid will consider the student’s class schedule and academic progress. Work-study students may generally work additional hours upon request of the supervisor and approval from the Office of Financial Aid. Students are allowed to work during breaks with approval from the Office of Financial Aid.