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The Financial Aid Office at
Each year students must complete
and sign a need analysis application. This may be by either a paper or an
electronic Free Application for Federal Student Aid (FAFSA). Returning students
may complete and sign a paper or an electronic Renewal Application. The FAFSA
may be completed on line at www.fafsa.ed.gov.
The web
site is free, fast, secure, and easy to use. When completing the application,
students must indicate Return to
top You
can use your federal pin to access personal information in various U.S.
Department of Education (USDOE) systems, including applying for federal student
aid using FAFSA on the Web. You can request for a PIN, replace a PIN, or update
a PIN
mailing address at the U.S. Department of Education’s website www.pin.ed.gov/. Pin may be used to: ·
To
gain access to FAFSA/Renewal FAFSA on the Web; ·
As
an electronic signature to sign the FAFSA or obtain a copy of FAFSA ·
To
make online corrections to FAFSA; and/or ·
Review
online grant and loan history on the National Student Loan Data System NOTE: Since the PIN
serves as an electronic signature, it must not be given to anyone. WHEN TO APPLYThe
FAFSA or Renewal Application must be completed each year. To insure full access
to all available financial aid programs, you should submit the need analysis
application as soon as the family income tax returns have been completed. (If a
tax return will not be filed, you may apply any time after January 1.)
Returning students must renew their applications by May 15 of each year. WHO MAY APPLY Students applying for
federal aid (Title IV) must meet the following criteria:
HOW FINANCIAL AID IS DETERMINEDBy completing the need analysis application (FAFSA), you will automatically be considered for the federal, state, and campus-based financial aid programs. You will receive a Student Aid Report (SAR) in approximately four weeks, and the school whose code is listed will receive an Institutional Student Information Record (ISIR). The SAR/ISIR contains an Expected Family Contribution (EFC) number, which is needed to determine eligibility. The Financial Aid Office uses the cost of education (tuition, fees, room, board, books and other related expenses) less the EFC number and other resources to determine your financial need.You may contact the federal processor at 1-800-433-3243, if you do not receive your Students Aid Report (SAR) within 3-4 weeks of mailing your FAFSA.
ESTIMATED COST OF ATTENDANCEWhile actual costs vary from student to student, TBC uses average cost figures when determining your eligibility for financial aid. The instructional and general fee component is based on 12 credit hours of enrollment for each quarter. In addition to tuition and fees, books and supplies, housing, meals, transportation and an allowance for personal and miscellaneous expenses are included in determining a cost of attendance figure.
RECEIPT OF OTHER FINANCIAL ASSISTANCE OR CHANGE IN CIRCUMSTANCESThe aid awarded to you was based
on your financial circumstances, enrollment plans, and Satisfactory Academic
Progress status as originally reported. Federal regulations require you to
disclose, and the FAO to include, outside awards in your financial aid package.
If you receive any form of nonfederal assistance after your award has been determined,
an adjustment in your award package may be necessary. In some cases, the
adjustment may include repayment of federal funds. Federal Pell Grant funds are
not reduced if you receive a scholarship or other education-based award. Other
assistance may include but are not limited to scholarships, grants,
fellowships, Ohio National Guard and BVR. You must also report to
the FAO the following changes: 1.
Change
in name or social security number (documentation required) 2.
Change
in address 3.
If
you are in default or owe a refund on a federal grant or loan at any
institution FINANCIAL NEEDYour financial need is the amount that remains after
your EFC and other student resources are subtracted from the estimated cost of
attendance. If the resulting calculation is a positive figure, then you are
considered to have financial need. The FAO attempts to meet your financial need
by
providing access to federal and state funds. If your combined EFC and other
resources are higher than the estimated cost figure, you are not eligible for
need-based aid, but may qualify for low interest educational loans. CHANGE IN FINANCIAL CIRCUMSTANCES The FAO recognizes that a sudden change in your
family
income or an unavoidable expense can have a direct impact on your ability to
continue your education. The FAO can consider those changes and re-evaluate
your eligibility for financial aid. In order for your application to be
reviewed for special circumstances, you will need to see the Director of
Financial Aid to complete a “Special Circumstance” form and provide
documentation to support your request. You should also contact the FAO if any
of the following circumstances apply to you to see if it might affect your
financial aid application. ·
Divorce of parents or yourself from your spouse ·
Death of a major wage earner ·
Loss of employment of a major earner ·
Loss of other income or benefits (Social Security or
child support), yourself, your parents, or your spouse Financial
aid is intended to help students finance their education when family and
personal resources are not adequate to meet the total educational costs.
Financial aid consists of scholarships and grants (non-repayable gift
assistance) and loans (which must be repaid). Federal Pell Grant Federal Stafford Loan Program Awards
are made on a non-discriminatory basis and can only be withheld if a student
does not meet stated policies. The
Department of Education or · A signed copy of the student, spouse and/or the parents’ federal tax forms. If you do not have a copy of your federal tax return, you may request a tax return transcript from the IRS. Use these forms to request duplicate tax documents from the Internal Revenue Service. ·
All
W2’s & 1099’s for the respective tax year which will be informed by FAO ·
A
Dependent Verification Worksheet for that respective year ·
A
Independent Verification Worksheet for that respective year You will be notified of your financial aid by an award notice. PAYMENT/DISBURSEMENT OF FINANCIAL AID Financial
aid funds must be used first to pay tuition and fees and then to pay other
educational expenses. Before the start of each term you will be sent a Student
Account Statement, which will show instructional and general fees and other
appropriate charges. Financial aid awards for which all eligibility
requirements have been met will appear as credits. All fees, including
penalties, must be paid according to the deadlines indicated on your Student
Account Statement. Admissions
requirements must be met prior to receiving financial aid. All grants, loans,
and scholarships are subject to change, depending on enrollment status, other
resources, participation criteria, and availability of funds. If attending the
academic year, grants, scholarships and loans will be disbursed in three
allotments during the period of time for which you are enrolled. Your account
will be credited and proceeds will be disbursed by the Business Office. NOTE:
All first-time first year undergraduate loan borrowers have a 30-day delayed
disbursement. Once your tuition and fees
are paid with financial aid, any credit balance will be issued directly to you.
Credit balance is issued to you through a Institutional check by the Business
Office. To
apply for a student loan, students must complete a loan entrance interview form
available from the Financial Aid Office. Remember, planning for tomorrow is
important, so please borrow conservatively. Keep track of how much you borrow
and how much your loan payment will be after graduation. Before
your loan proceeds can be applied to your account you must sign a Federal
Stafford Loan Master Promissory Note (MPN). By completing and signing the MPN,
you are agreeing to repay the amounts borrowed against the note. You can
complete the Master Promissory Note (MPN) online by clicking on the following
link and following the instructions: Start
Your MPN ENTRANCE/EXIT LOAN COUNSELLING Borrowing
from the Federal Stafford Loan Program requires you to receive entrance and
exit interview. The interview sessions are required by Federal Regulations and
offer information relating to the terms and conditions of the loan programs and
your obligations as a borrower. An Entrance Interview is required each year
when you want to borrow a Federal Stafford Loan from Entrance/Exit
Loan counseling can be completed on-line at: http://www.salliemae.com.
Follow the steps given by your FAO. Once completed, an e-mail message will be sent to the FAO indicating
that you have completed the entrance or exit interview.
NOTE: Please note that
for Before
disbursing financial aid funds, TBC must receive financial aid history for
students who have received aid at another school. If you are transferring
to TBC, and have attended college elsewhere in the current academic year, you
must notify the FAO. The FAO will determine your remaining eligibility based on data
received from the National Student Loan Database System. The financial aid history is
used to ensure you do not exceed your annual and aggregate limits on
federal funds. Grants
are money that do not have to be repaid. Loans MUST be repaid.
Scholarships are gifts recognizing students on the basis of academic
achievement, special skills, or other criteria. Work study program allows a
student to work and earn credit to offset educational expenses. Federal Pell Grant is available to undergraduate students pursuing their
first bachelor's degree. The amount of the grant is based on the EFC number,
the student's need, the estimated cost of attendance, the student's enrollment
status, and the money appropriated by the Federal Government. Awards can be
from $609 to $5350 for qualified students Federal Family Educational Loan Programs include the Subsidized Federal
Stafford Loan, Unsubsidized Federal Stafford Loan, and the Federal PLUS. To
obtain the first Stafford Loan, the student must complete a Master Promissory
Note. The Master Promissory Note will be sent to the student either electronically
or through the mail. The promissory note must be completed and returned to the
lender before funds will be released. The student may not need to complete a
new Master Promissory Note the following year. Subsidized Federal Stafford Loan is a low-interest, variable-rate
loan that must be repaid within 10 years. The maximum amount that can be borrowed is $23,000. Students must be
enrolled at least half time. There is an origination/insurance fee that is deducted from the gross amount of these loan amounts. Unsubsidized Federal Stafford Loan is a non-need based program for
those ineligible for (any or all of) the Federal Stafford Loan. The student is
responsible for interest payments. The annual and aggregate loan limits for dependent
undergraduate students equal the Federal Stafford Loan limits (less the amount
of any Federal Stafford loans). NOTE:
All first-time recipients at Meet the Financial Aid Director for entrance and exit counseling Federal PLUS Loans (Parent Loans for Under-graduate Students) enable parents
to borrow money to help pay for their children's education. Parents may borrow
on behalf of a dependent student. The maximum loan amount that a parent may
borrow for each dependent student is the difference between the cost of
attendance and any other financial assistance. The loan requires a separate
application. Ohio Choice Opportunity Grantprovides need-based tuition
assistance to undergraduate students from low and moderate income
families. Awards are based on family income with consideration given to the
number of dependents in the family. Scholarships are awarded to those that meet the requirements as listed in the
school catalog. Students must complete a scholarship application available from
the college office. The deadlines for the scholarships will be posted
throughout the campus at the beginning of each quarter. Veterans Benefits
As an important part of the
service that veterans have provided to the After the enrollment has
been certified, the VA representative needs to be notified if a student drops a
class, adds a class, or withdraws. The Veterans Administration (VA) must be
notified of any enrollment changes. Early notification could prevent a delay in
the delivery of funds and overpayments. In addition, the VA needs to be
notified when a student changes his/her major. Vocational Rehabilitation Consulting Service assists students with physical
limitations or health problems. Students who wish to apply must contact their
local Division of Vocational Rehabilitation Office. SATISFACTORY ACADEMIC PROGRESS Satisfactory
Academic Progress will be measured in three separate ways. The three areas to
be measured will be GPA, credits attempted vs. credits completed, and maximum time
frame allowed. The satisfactory academic progress for each student will be
measured at the end of each quarter of attendance. All
credits, including transfer credits, will be used in calculating both the
Quantitative and Qualitative components of Satisfactory Academic Progress. Please refer to the SATISFACTORY
ACADEMIC PROGRESS BROCHURE. REFUND/RETURN OF TITLE IV FUNDS The Student Financial Aid Return of Federal Financial Aid applies
when a student receives financial aid funds and withdraws, drops out, or
otherwise fails to complete the period of enrollment for which he or she was
charged. NOTE: Students whose parents receive a PLUS loan are considered
to have received SFA funds and are covered by the Student Financial Aid Return
of Title IV Funds. Federal regulations require all institutions to develop a policy
which determines the amount of Title IV grant or loan assistance that a student
has earned as of the student's withdrawal date. A refund of institutional
charges or the percentage of Title IV aid earned for a student, who withdraws
from A
student has the right to know what financial aid programs are available at TBC. A
student has the right to know the deadlines for submitting applications for
each of the financial aid programs available. A
student has the right to know how financial aid will be distributed, how
decisions on that distribution are made, and the basis for these decisions. A
student has the right to know how financial need was determined. This includes
the costs for tuition and fees, room and board, travel, books, and supplies,
personal and miscellaneous expenses, etc., are considered in the budget. A
student has the right to know what resources (such as parental contribution, other
financial aid assets, etc.) were considered in the calculation of the need. A
student has the right to request an explanation of the various programs in the
student aid package. A
student has the right to know what portion of the financial aid he or she
receives must be repaid, and what portion is grant aid. If the aid is a loan,
he or she has right to know what the interest rate is, the total amount that
must be repaid, the payback procedures, length of time to repay the loan, and
when repayment is to begin. A
student has the right to know how the college determines whether or not he or
she is making satisfactory academic progress, and what happens if he or she is
not. A
student must complete all application forms accurately and submit them on time
to the appropriate office. A
student must provide correct information. In most instances, misrepresenting
information on financial applications forms is a violation of the law and may
be considered a criminal offense, which could result in indictment under the
United States Criminal code. A
student must return all additional documentation, verification, corrections,
and/or new information requested by either the FAO or the agency to which he or
she submitted the application. A
student is responsible for reading and understanding all forms that he or she
is asked to sign and for keeping copies of them. A
student must accept responsibility for all agreements signed. A
student must be aware of and comply with the deadline for application or
reapplication for aid. A
student must repay, according to the repayment provisions of the loan fund, all
loans accepted must be used for educational expenses. A
student must comply with the standards of Satisfactory Academic Progress for
renewal of Financial Aid programs. A
student must report any additional assistance from outside sources such as
scholarships, grants, fellowships, and educational benefits. A
student must notify the FAO of a change in enrollment status. A
student must keep the FAO informed of any changes in address, name, financial
situation, or any change in student status.
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