FINANCIAL ASSISTANCE

Federal Financial Aid exists to help those students who would not be able to attend college without monetary assistance.  The Finance Office at Forrest Junior College assists students in developing a financial plan that will meet their needs.  In accordance with U.S. Department of Education regulations, Federal Financial Aid must first satisfy the student’s education expenses.

Persons applying for admission to the College should complete their application for Federal financial assistance as soon as possible after making application.  Continuing students should reapply for Federal Financial Aid each year by April 1.
 

TYPES OF FINANCIAL ASSISTANCE

Forrest Junior College offers three basic categories of financial aid: grants, loans, and employment.  Grants are outright gifts of money, which do not have to be repaid.  Loans are borrowed money that must be repaid with interest and/or fees.  Employment allows students to work and earn money to help pay for educational expenses. Other sources of financial aid are often available.  Some of these include: Veterans’ Administration benefits, Vocational Rehabilitation benefits, and sponsorship by employers.

The amounts and types of financial aid that students receive are determined through federal, state, and local guidelines. 

Students should consider all possible sources of grants, loans, and any other forms of financial resources for which they may be eligible. It is the student’s responsibility and they are encouraged to search for additional funding to help pay educational expenses.

ELIGIBILITY REQUIREMENTS

To receive Federal Student Aid (Title IV), one must:

• be enrolled or accepted for enrollment in an approved associate or diploma program

• be a United States citizen or eligible non-citizen

• demonstrate financial need

• not be in default on a Federal Perkins Loan (formerly NDSL), Federal Stafford Loan

• (Formerly GSL), Federal PLUS loan, or Federal Supplemental Loan for Students (SLS) received at any school previously attended, or have been overpaid in the Federal PELL Grant program

• not owe a refund on a Federal PELL Grant, a Federal Supplemental Educational Opportunity Grant, or State Student Incentive Grant at any school previously attended.

• maintain satisfactory academic progress

• sign a statement of education purpose and registration compliance

• have a high school diploma or GED

To apply for Federal Student Aid, a student must complete: 

1. An Application for Federal Student Aid, FAFSA (for Federal PELL Grants, Federal SEOG, FWS, Federal Perkins and/or Federal Stafford Loans). There is no cost associated with completing this application.

2. A Personal Data Sheet

Federal Financial Aid application packets are avail­able in the College reception area.
 

VERIFICATION

Forrest Junior College has developed the following policies and procedures regarding the verification of information provided by applicants for Federal Student Aid under the Title IV Programs: 

1. Only those students who are selected for verification by the Department of Education will be required to submit supporting documentation.

2. Only one Federal PELL and/or campus-based award can be disbursed prior to the completion of verification

3. The institution prior to the completion of verification may certify a Federal Robert T. Stafford Federal Student Loan application.  However, students have only 45 days from the time the check arrives to the institution to provide the necessary documentation.  If not completed by that time, the check will be returned to the lender.

4. Students have until 90 days after their last day of attendance or the end of the award year, whichever comes first, to complete verification.  In the interim the student must have made arrangements with the College for payment of all tuition and fees due or will risk termination at the option of the College.  After the passage of the aforementioned period, all financial aid that may have been due is forfeited.

5. All students will be notified immediately if they have been selected for verification and will be informed of the supporting documentation that is required.   Any information supplied by the student to correct inaccurate data on the FAFSA must be submitted for reprocessing immediately.  All Federal Financial Aid will be held until this information is received.

6. If the student supplies inaccurate information on any application and refuses to correct it after being counseled by the institution, the College must refer this case to the Department of Education for resolution.  Unless required by the Department of Education, no Federal Financial Aid will be disbursed to the student.

SECONDARY CITIZENSHIP CONFIRMATION PROCEDURE

In accordance with Federal Regulations published on January 7, 1993, Forrest Junior College is establishing the following procedures relative to the secondary citizenship confirmation process for Title IV financial aid applicants who have indicated that they are eligible non-citizens or permanent residents of the United States.  If the primary confirmation process documentation does not confirm eligible Title IV applicant status and the student submits reasonable evidence of eligible status, the College will initiate a procedure to make a second attempt to confirm citizenship status.  The student will be given a copy of the secondary confirmation status procedures so that they can complete the citizenship confirmation process. 

1. Students have 30 days from the date the institution receives the output document or 30 days from receipt of this document (whichever is later) to submit documentation for consideration of eligible non-citizen status.

2. Failure to submit the information by the deadline prevents the College from disbursing any Title IV funds or certifying the student as eligible for any Title IV funds.

3. The College will not make the decision regarding "eligible non-citizen" status without the student having the opportunity to submit documentation supporting a claim of eligibility.

4. Students must submit documentation of their current immigration status to the Financial Aid Office.  This documentation must be official documents from the Immigration and Naturalization Service (INS).  In order to initiate the required process, students must submit INS documents which are legible and which demonstrate their current status with INS.

5. The College will initiate secondary confirmation within 10 business days of receiving both output documents and student's immigration status documents.

GRANTS

Federal PELL Grants were authorized by the Higher Education amendments of 1972 and marked a major change in the concept of student financial aid.  Every undergraduate student enrolled in an associate or diploma program and who does not hold a bachelor's degree and wishes to attend a post secondary institution may apply for this grant.  PELL grants are intended to be the "floor" of a financial aid package and may be combined with any other aid to meet the full cost of education. 

The amount of the Federal PELL Grant will depend upon:  

1. The student aid index

2. The cost of education

3. The length of enrollment during the academic year

4. Enrollment status, i.e. full-time or part-time 

The Federal Supplemental Educational Opportunity Grant Program (SEOG) provides financial assistance to undergraduate students with exceptional need.  SEOG funds are an outright grant of aid and, therefore, do not have to be repaid.
 

FEDERAL LOANS

The Federal Perkins Loan Program (formerly NDSL) is a very low interest loan made to under­graduate and graduate students who are enrolled on at least a half-time basis and who show need for assistance in meeting their education expenses.  Students may borrow as much as $4000 per award year if they are enrolled in an approved associate degree or diploma program. 

The amount of Perkins will depend upon: 

1. The availability of Federal Perkins Loan funds at the school

2. The degree of need demonstrated by the student

3. The amount of other aid received by the student      

Students do not make payments on Federal Perkins Loans as long as they are attending school on at least a half-time basis, remain in eligible programs and maintain satisfactory progress.  Students receive a nine-month grace period after being graduated, leaving school, or dropping below half-time status.  At the end of the grace period, repayment begins.  Students must pay at least $40 per month. 

The student must repay the loan in accordance with the terms agreed upon in the promissory note; the legal document signed at the time the loan is issued.  The student is given a copy of this note and receives the original when the loan is paid in full.  After the grace period has ended and repayment has begun, certain conditions allow the student to go into forbearance and only pay interest on the loan.  For information concerning these conditions, please con­sult the Finance Office or refer to the terms listed in the promissory note.  Note that forbearance is not automatic; students must apply for them, using a form the College will give them upon request. 

Deferment may also be granted for extraordinary circumstances such as prolonged unemployment or illness; however, interest on the loan will continue to accrue.  Note that deferments are not automatic; students must apply for them, using a form the College will give them upon request. 

There are certain conditions that allow a student's Federal Perkins Loan to be canceled, i.e. death, total and permanent disability, teaching in certain programs and other duties in other areas of the country, service in selected specialties of the U.S. Army, the Peace Corps, or VISTA.  Additional information concerning loan cancellation is located on the student’s promissory note forms. 

Students who do not repay their loan(s) in accordance with the terms agreed upon in the promissory note may go into default, and the College can require immediate repayment of the entire loan amount including interest and penalty charges.  The College will cooperate with all borrowers in any way possible; however, late payments and other types of neglect, i.e. failure to report an address change or to submit forms on time, could result in action by a collection agency. This would impair credit, impair relations with the College, and cause personal embarrassment.  The College may take legal action against the student in order to collect the loan and can ask for help from the Federal government in collecting. 

Students who are in default on any loan received at Forrest Junior College, or any other college, will not be admitted or allowed to re-enter Forrest Junior College until the loan is no longer in default.
 

The Federal Stafford Loan Program (Family Federal Educational Loans [FFEL]) provides low interest loans through participating lenders such as banks, state agencies, credit unions, or savings and loan associations. Undergraduate and graduate students who are enrolled on at least a half-time basis are eligible to apply for the Federal Stafford Loan Program.  The College must certify students' Federal Stafford Loan applications (Master Promissory Note), indicating the cost of education, academic standing, and any other aid that students will receive.  A Free Application for Federal Student Aid (FAFSA) is completed to determine the amounts students may borrow under the Federal Stafford Loan Program.

First year undergraduates may borrow up to $2625 a year.  Second year students may borrow up to $3500 a year.  Each lender charges an "origination fee" of up to 5.5 percent, which is deducted propor­tionately from each loan disbursement the student receives.  A lender may also charge an insurance premium of up to 3 percent of the loan principal, which is also deducted propor­tionately from each loan disburse­ment.   

Students receive a six-month grace period after they graduate, leave the College, or drop below half-time credit hour load.  Repayment begins at the end of the grace period.  Students will be allowed at least five years to repay the loan and may be allowed up to ten years.  The minimum payment available is $50 per month. 

When students leave the College, they must contact their lender to establish a repayment schedule.  The amount of the payments depends on how much the student has borrowed and the amount of time allowed for repayment.   

After the grace period has ended and repayment has begun, certain conditions allow students to defer repayment.  Interest will accumulate during any deferment period; however, the federal government will pay the interest.  Please consult the Finance Office for information concerning these conditions.  Students must contact their lenders to apply for deferments.  Deferments are not automatic.  Students whose loans are in default are not eligible for deferment. 

Students may request forbearance if they are willing but unable to meet their repayment schedule and are not eligible for deferment.  The lender does not have to grant forbearance.   

A Federal Stafford Loan may be canceled if a student dies or becomes totally and permanently disabled after receiving the loan. 

Students who do not repay their loans in accordance with the terms agreed upon in the promissory note will be in default, and the state guarantee agency or federal government may take legal action to collect. 
 

FEDERAL WORK PROGRAM

The Federal Work-Study Program (FWS) is a federally funded program that was esta­blished by Congress under the Economic Oppor­tunity Act of 1964 and is under the authority of the Higher Education Act of 1965, as amended. 

The Federal Work-Study program provides jobs to graduate and undergraduate students who need financial aid to assist them in meeting the expenses for their education. 

The College will assign jobs on and off campus with public or private organizations.  The College will take into consideration an applicant's financial need, class schedule, and academic progress prior to arranging a job and assigning a work schedule.  The hourly salary will be at least the current minimum wage. 

The amount of the Federal Work-Study award will depend upon: 

• The amount of other federal aid received by the student

• The availability of Federal Work-Study funds at the College

• The degree of need demonstrated

• The availability of jobs and a time allowance, which does not conflict with the student's class schedule 

The eligibility requirements for Federal Work-Study are the same as those identified for the other Title IV programs. 

Seven percent of FWS funds must be spent in community service, such as activities at Headstart and the Literacy Program.
 

FJC STUDENT EMPLOYMENT PROGRAM

In certain cases, a student may be selected for the Forrest Junior College Student Employ­ment Program.  Students are selected for the program according to their skills, curriculum, class schedule, and the College's par­ticular needs.  Financial need is not a necessary prerequisite. Students in this employment program must maintain satisfactory progress in order to remain employ­ed.
 

SCHOLARSHIPS

Private Source Scholarships: Scholarships, loans, and grant-in-aid- programs may be available from private sources such as fraternal groups, churches, societies, and clubs.  Students may obtain information about theses scholarships by contacting the guidance depart­ments of their high schools or by writing to local chapters of the organizations themselves.
 

OTHER FORMS OF FINANCIAL ASSISTANCE

GI Bills for Veterans: The Veterans Administration, under the provisions Title 38, U.S.C., commonly refer­red to as the "GI Bill," provides educational assis­tance programs for veterans, some personnel who are currently in the armed services, and disabled veteran­s.  Eligibility require­ments, benefits, and time limits vary for the different programs.  Students should contact the Veterans' Counselor or local Veter­ans Ad­ministra­tion Regional Office for further details.
 

GI Bill for Veterans' Dependents: The Veterans Administration, under the provi­sions of the GI Bill, also provides educational assistance to a veteran's spouse or dependent children.  This assistance is also available to surviving spouses or surviving dependent children.  The veteran must be either deceased or permanently disabled as a result of a service-con­nected disabilit­y.  Other eligibility require­ments and time limits apply to this program.  Students should contact the Veterans' Counselor or a local Veterans Ad­ministr­ation Regional Office for further details. 

Students who receive Veterans benefits are subject to special rules set by the govern­mental agency with regard to academic probation and course withdrawal.  Recipients of Veterans benefits that are on probation should not be certified beyond two quarters without an improvement in his/her academic standing. 
 

Vocational Rehabilitation: This program is operated to assist disabled individuals in preparing for or returning to, productive activity.  Vocational Rehabilitation Offices can provide funding for training, personal counseling and other services.  These services can be provided to people who have physical or mental disabilities that can be considered handicaps to employment. Services to eligible individuals are provided by state agencies for vocational rehabilitation.  Further information may be obtained by contacting the local office of the State Vocational Rehabilitation Agency
 

Employer Sponsorship: Many employers provide educational benefits to their employees.  For further information, contact the personnel office where you work.  Most educational reimbursements from employers are made after the student satisfactorily completes the course(s).  Payment is usually made to student and therefore, student’s using employer sponsorship must make payment to the College in advance of taking a course(s).
 

Trade Assistance Act: In some cases, funds may be available on an individual referral basis through the Trade Assistance Act (TAA).  Students should contact their local Employment Security Commission office. 
 

Private Tuition Assistance Program: The College offers a private tuition finance program.  It enables students to pay in installments all or part of their costs of attendance at the College.  This program can be hand-tailored to fit particular circumstances.  Further information is available in the Finance Office.  There is a monthly administrative fee for this service.
 

LEAVE OF ABSENCE

Requests for a leave of absence may not exceed 180 days.  Students are limited to one leave of absence per 12-month period of enrollment under Federal Title IV regulations. Additional subsequent leaves may be granted for jury duty, military reasons, or circumstances covered under the FMLA of 1993.  

A student whose leave of absence request has not been granted will be considered withdrawn.  Students who do not return from leave of absence as scheduled will be considered withdrawn.  Students who are withdrawn due to not returning from an approved leave of absence and have received Federal student loan monies need to be aware that the time taken during the leave of absence will be counted toward their “grace” period.  A program Interruption/Withdrawal Fee is charged to any student who is withdrawn.
 

REESTABLISH ELIGIBILITY FOR FEDERAL FINANCIAL AID

A student will loose their Federal Financial Aid eligibility due to not maintaining satisfactory progress.  A student who has been terminated for failing to maintain “satisfactory academic progress” may be reinstated after one quarter by reapplying for admission to the College, retaking courses previously failed or upgrading the skills applicable to student’s educational objectives, and demonstrating the academic ability to progress satisfactorily in the program.  However a student will not be eligible for Federal Financial Aid during the reinstatement-grading period.  If by the end of that grading period a student achieves a GPA of 2.0 or better he will be considered to be making “satisfactory academic progress” and will be eligible for Financial Aid consideration in subsequent grading periods.

Student Loan Information
Click on the links below to find out more about types of financial aid.

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