Financial Affairs

What is the Bishop State Community College Federal Title IV Code?

When can I pick up my Federal Pell Grant Check?

When can I totally withdraw from school without owing a refund on the Pell Grant?

How do I apply for a Federal Pell Grant and other types of student financial assistance?

Do I have to reapply for financial aid every year?

Can my financial aid change?

How do I become independent for financial aid purposes?

What is Professional Judgment Request?

What is Satisfactory Academic Progress and how does it apply to me?

If I am in default on a federal guaranteed student loan, can I still receive federal financial assistance?

How is my financial need determined?

If my parents are divorced or separated, whose financial data should be used when I'm completing the FAFSA?

I probably don't qualify for financial aid. Should I apply for aid anyway?

What happens to my financial aid status if I withdraw from school?

If I get a private scholarship, what impact does this have on my eligibility for other financial aid?

What is the Bishop State Community College Federal Title IV Code?

The Federal Title IV Code is 001030

When can I pick up my Federal Pell Grant Check?

Pell Grant Checks will be mailed to students as of December of 2007. Please make sure that your address is correct in the Admissions Office.

When can I totally withdraw from school without owing a refund on the Pell Grant?

Federal guidelines require that you must attend classes beyond the 60% period of the term to earn all of the Pell Grant payment.

How do I apply for a Federal Pell Grant and other types of student financial assistance?

The first step in applying for a Federal Pell Grant and other Title IV financial assistance is to complete the Free Application for Federal Student Aid (FAFSA). You can complete the FAFSA either in a paper format or on the Internet (click here).

Do I have to reapply for financial aid every year?

Yes. You must apply for financial aid every academic year. After your first year you will receive a pin # or a "Renewal Application" from the federal processor. The renewal application contains preprinted information from the previous year's FAFSA. Note that your eligibility for financial aid may change significantly, especially if you have a different number of family members in college. Renewal of your financial aid package also depends on your making satisfactory academic progress toward a degree, such as earning a minimum number of credits and achieving a minimum GPA.

Can my financial aid change?

Yes. As stated in the student award notification, initial financial aid awards are the best estimate of what you are eligible to receive. Most changes in awards, however, involve factors that are under your control, and of which you should be aware. Your award may be increased, reduced, or even canceled, if:

a) Your family financial circumstance changes, causing your need to change. See Professional Judgment (below).
b) You receive any additional outside resource, such as a privately awarded scholarship, which was not listed on your award notification.
c) You provided incorrect data on your FAFSA or Renewal FAFSA.
d) You do not maintain Satisfactory Academic Progress.

How do I become independent for financial aid purposes?

You may be considered independent for the 2007-2008 Academic Year if you meet at least one of the following requirements:

- were born before January 1, 1984,
- are a veteran of the US Armed Forces,
- are married,
- are a ward of the court, or were a ward of the court until age 18,
- have a legal dependent for whom you provide more than half of their support, or
- enroll in a graduate or professional program.

What is Professional Judgment Request?

An aid administrator may use professional judgment, only on a case-by-case basis to change a dependent student's status to independent, or to increase or decrease one or more of the data elements used to calculate the Expected Family Contribution (EFC). The reason for the professional judgment request must be made in writing and accompanied with all the appropriate documentation. An aid administrator's decision regarding a professional judgment request is "final" and cannot be appealed to the U.S. Department of Education.

What is Satisfactory Academic Progress and how does it apply to me?

Once you have been enrolled at Bishop State for two or more semesters, you must meet Satisfactory Academic Progress standards by maintaining at least a 1.75 cumulative GPA and average passing 67% of all hours attempted. Grades of W and F count against your passing percentage. If you have been notified by our office that you are not making satisfactory progress and you feel that there are extenuating circumstances that you wish us to consider, you must send your explanation in writing to the financial aid office. Your explanation will be reviewed and a decision made within 3-5 working days as to whether you will be given a conditional exception to these standards.

If I am in default on a federal guaranteed student loan, can I still receive federal financial assistance?

A student who is in default on a federal guaranteed student loan is ineligible to receive federal financial assistance until the loan is either paid or satisfactory arrangement is made with the lender to resume payment on the defaulted loan.

How is my financial need determined?

The federal processor determines your individual family's ability to contribute to the cost of education ("Expected Family Contribution") by using the information you provide on the Free Application for Federal Student Aid (FAFSA) and a formula called "federal methodology." The formula considers your parents' and your income and assets, your family size, and the number of family members enrolled in college. The EFC will be the same at any college you attend. After receiving your Expected Family Contribution (EFC) amount from the federal processor, the Office of Financial Aid then subtracts your EFC from the standard student budget (average cost of attendance). In formula form: Cost of Attendance - EFC = Student Financial Need.

If my parents are divorced or separated, whose financial data should be used when I'm completing the FAFSA?

If your natural parents are separated or divorced, use the natural parent with whom you lived the most in the past 12 months. If you lived with neither parent, or lived with each parent an equal number of days, use the parent that provided the most financial support to you over the past 12 months. If that parent has remarried, you must also include the step parent's financial information on the application, and parent and step parent should report themselves as married on the FAFSA.

Example: You have been living with your mother and stepfather for the past 12 months. You would use your mother's income and stepfather's income, and you would report on the FAFSA as the number in family: yourself, your mother, your stepfather, and any other children that they support.

I probably don't qualify for financial aid. Should I apply for aid anyway?

Yes. Many families mistakenly think they don't qualify for aid, and prevent themselves from receiving financial aid by failing to apply for it. In addition, there are a few sources of aid such as Unsubsidized Stafford and PLUS loans that are available regardless of need. The Free Application for Federal Student Aid (FAFSA) form is free

What happens to my financial aid status if I withdraw from school?

Check with financial aid before withdrawing from school. Depending upon when you withdraw from school, you may be required to repay a specified percentage of any aid you have received in the term in which you are withdrawing, since the funds you receive are designed to help you meet your living expenses for the entire term.

If I get a private scholarship, what impact does this have on my eligibility for other financial aid?

If you receive a private scholarship award, this may impact your financial aid award since the combination of all financial aid and scholarships cannot exceed your need. First, the loans that are offered to you will be reduced, then other aid. A revised award notification will be mailed to notify you of the changes. If you know that you will be receiving a private scholarship, please contact our office as soon as possible to prevent receiving an over award and possible repayment of aid you have already received.