Financial Aid FAQ
Below are answers to Financial Aid’s frequently asked questions.
Am I considered a Dependent or Independent student?
Your dependency status is determined by your answers on the FAFSA. For more information regarding your dependency status, please visit the FAFSA Dependency Status webpage.
I don't live with my parents, they don't claim me on their tax returns, and they don't give me any financial support. Do I have to put down their information on my application?
If you cannot answer "yes" to any question in the "Step 3" section on the FAFSA, you must include parent information. Students are considered dependent or independent for financial aid purposes based on criteria established by the federal government. Parents of dependent students must provide their financial information in order to determine eligibility for the various federal aid programs.
My parents are separated or divorced. Whose information should be given on the FAFSA?
If your parents are divorced or separated and don’t live together, answer the questions about the parent with whom you lived more during the past 12 months.
If you lived the same amount of time with each divorced or separated parent, give answers about the parent who provided more financial support during the past 12 months or during the most recent 12 months that you actually received support from a parent.
My parents make too much money, should I apply for financial aid?
Calculating and determining financial aid eligibility can be complicated. There is no easy, straightforward "income cut-off" or other method to help you anticipate whether you'll be eligible. Regardless of how much money you or your parents make, you should still submit the FAFSA.
What if my family’s financial circumstances change drastically during a given year?
There are circumstances that will enable the financial aid office to adjust a student’s aid eligibility. These circumstances could include: job loss due to unemployment or illness, separation or divorce, or unusual medical expenses. If conditions such as these occur during the academic year, please complete a Special Circumstances Form.
I recently got married. Do I need to make corrections to my FAFSA indicating I am now married?
Federal guidelines do not allow for you to update marital status in the middle of an awarding year. Once you file the FAFSA indicating that you are single, you will not be able to change that information until you file the FAFSA again for the following year.
I have been selected for verification. What does this mean?
Verification is the process of verifying the information reported on the FAFSA in comparison to you and your parent’s tax returns. If you are selected, you cannot be awarded until verification is complete. Please provide requested documentation as soon as possible to resolve any conflicting information.
I am a Dependent student. Who should or can be included in my household size?
If you are a dependent student, the people reported in your parent(s) household should include you, the student (even if you’re not living at home,) your parent(s) and siblings, if they receive more than half of their support from your parent(s). This may also include any other dependents that live in the household and receive more than half of their support from your parent(s). Your verification worksheet has further instructions regarding whom to report in the household size.
I am an Independent student. Who should be included in my household size?
If you are an independent student, your household should include you, the student, your spouse and dependents (if applicable). This may also include any other dependents that live in the household whom you provide more than half of their support. Your verification worksheet has further instructions regarding whom to report in your household size.
How can I check the status of my financial aid?
You can check your status on MYCVCC Portal Self-Service - Financial Aid. You can also review the types of aid offered and the items which require your attention, such as missing documents.
When will I be awarded for the current academic year?
Awarding for the current academic year usually begins in July. You can view your financial aid status and award notification using Self-Service - Financial Aid on the MYCVCC Portal.
What is meant by a financial aid award offer?
A financial aid award offer informs the student of the types and amounts of aid the student will receive for the academic year.
On MYCVCC Portal, why does it say I am currently ineligible for a portion of my financial aid?
Financial aid is disbursed depending on enrollment status. On the Portal, the awarded amount is based upon full time enrollment. The anticipated amount is calculated according to your actual enrollment status. The currently ineligible amount is the aid you are not eligible for based upon less than full time enrollment.
Can I receive financial aid if am not a degree seeking student?
No. Students must be enrolled in a degree seeking program that requires 16 or more credit hours to obtain the degree.
Can I use financial aid for courses not required in my program of study?
No. Courses not required for completion of your degree, with the exception of pre-curriculum courses, cannot be considered when determining your eligibility for financial aid. It is imperative that you review the requirements of your program of study.
How can my parents get information about my financial aid?
The Family Education Rights and Privacy Act (FERPA) is a federal law designed to protect the student’s educational records. Per the FERPA, we cannot disclose a student's financial aid information to anyone other than the student-unless he or she has given written permission for us to do so with a Student Consent to Release or Request Information Form. The FERPA applies to the student regardless of age or dependency status.
Do I need to be a full-time (12 credit hours) student to receive financial aid?
No. Students may be enrolled less than half-time (6 credit hours) and be eligible for some federal financial aid programs.
Can a student receive federal aid at CVCC and another school in the same semester?
No, a student may only receive federal aid at one institution in the same semester.
Can I get financial aid for summer school?
Yes, you may be eligible for aid for summer. Summer school aid is based upon any remaining eligibility after Fall and Spring. Due to recent changes to the Pell Grant Program, if you receive Pell during the academic year, you may be eligible for the Pell Grant for Summer.
What happens to my financial aid if I drop a class or withdraw completely from school?
Withdrawing from all classes or dropping a class at any point after the drop/add period will negatively impact your completion rate and possibly affect your eligibility for future aid. Additionally, if you drop a course or withdraw from the semester, you may be required to return some of your financial aid to the Department of Education. Please consult with a financial aid technician before deciding.
I never withdrew, but I stopped attending or submitting assignments, why did you return funds?
Students are unofficially withdrawn when the institution realizes that the student is no longer attending classes or submitting assignments. The Office of Scholarships and Financial Aid is required to use the student's last date of attendance to determine a withdrawal date. The Federal Return of Title IV formula is then used to determine the amount and type of aid the student earned and/or the amount and type of aid to refund to various financial aid programs.
I was advised to drop a class rather than receive a low grade. How is my financial aid impacted?
Even though dropping a class may help your GPA, the Satisfactory Academic Progress Policy considers hours dropped with a "W" as "attempted, but not successfully completed." You are negatively affected if the total number of hours you drop places you under the required 67% completion rate.
What is Satisfactory Academic Progress?
To receive Title IV Federal funds, a student must be making measurable academic progress toward completion of an eligible degree. Federal regulations require evaluation of both quantitative and qualitative academic progress.
How is my "completion rate" determined for Satisfactory Academic Progress (SAP)?
The total number of hours passed is divided by the total number of hours completed. You must complete 67% of all credit hours attempted from the beginning date of enrollment at the college. Developmental and transfer credit hours are included in this measurement.
How long will it take to review my SAP appeal?
The SAP Committee may have up to 7 days to make a determination and the decision will be final. The student will be notified by email of the decision.
What is considered "supporting documentation" for a SAP appeal?
This is dependent upon the student's reason(s) for not meeting SAP. Supporting documentation could include letters from doctors, court documents, letters from employers, death certificates, obituaries, funeral programs, etc.
When will I get my financial aid disbursement?
If you have aid in excess of your tuition, fees, and bookstore charges, the remaining funds will be disbursed after all semester charges have been made. Your refund will be disbursed to you based on how you set up your CVCC OneCard. Please review the disbursement dates on the Consumer Information page.
How do class start dates affect my financial aid disbursement?
The eligibility for federal funds is governed by regulations from the Department of Education. Students are eligible for financial aid disbursements based on actual start dates for individual classes rather than the starting date of the current semester. Only the classes for which you have begun attendance will be included in the current disbursement. Please review your class schedule to determine when your classes actually begin.
What is work-study, and how do I find a work-study Job?
Work-study is a federal student aid program that provides part-time employment while you are enrolled in school to help pay your education expenses. For more information, view the work-study menu on MYCVCC Portal.
Does an outside scholarship affect my financial aid award?
Outside scholarships must be included in your financial aid package as a resource to help pay your educational costs. It is the responsibility of the student to notify the Office of Scholarships and Financial Aid of all outside scholarship awards.
Yes, we can help. Please contact us for more information.
Please note: The Higher Education Act does not allow us to share data from your FAFSA directly with certain outside agencies, such as state benefit programs, even with your written permission.
To view (PDF) documents you may need to download free Adobe reader at www.adobe.com.
Please refer to the Campus Store Hours and Events page for dates to use financial aid.
HOW IT WORKS
Books and school supplies may be charged to a student's account during the allotted timeframe. If there are additional financial aid funds available and if the funds are not restricted to payment of tuition and fees, these additional financial aid funds can be made available in the bookstore to purchase books and supplies.
Using this option means that financial aid funds, including grants and scholarships, students have been awarded may be applied towards tuition and fees, as well as books and supplies charges.
Students will need to have their student ID card and a copy of their schedule.
Financial Aid & Campus Store
Using Financial Aid at the Campus Store
Please refer to the Campus Store Hours and Events page for dates to use financial aid.
HOW IT WORKS
Books and school supplies may be charged to a student's account during the allotted timeframe. If there are additional financial aid funds available and if the funds are not restricted to payment of tuition and fees, these additional financial aid funds can be made available in the bookstore to purchase books and supplies.
Using this option means that the financial aid funds (including grants and scholarships) which students have been awarded may be applied towards tuition and fees, as well as books and supplies charges.
Students will need to have their student ID card and a copy of their schedule.
WHAT YOU NEED TO KNOW
The amount of funds (grants and scholarships) a student has been awarded must exceed their total tuition, fee, books and supplies charges. Students will have to pay any charges in excess of incoming financial aid.
Students may owe the college if they register for courses, purchase books, and then drop a course.
Students are not required to purchase books and supplies in the campus store. Using financial aid funds to charge in the bookstore is a service provided by the college as a convenience.
Remember—Tuition, fees, supplies and/or bookstore charges will be subtracted from any financial aid and the balance will be sent to the student’s selected refund preference with BankMobile Disbursements, a technology solution, powered by BMTX, Inc.
Financial Aid Census Dates
The financial aid census date is the point at which a student’s enrollment status is locked for financial aid purposes. This is the date the Office of Scholarships and Financial Aid takes a "snapshot" of students' enrollment to establish the "official enrollment" for reporting purposes and financial aid eligibility. At this point in the term, credit hours are locked and financial aid for the term is adjusted to reflect the student's enrolled credits that are eligible to receive financial aid. Credits added after the census date cannot be used to increase financial aid eligibility.
| Semester | Census Date |
|---|---|
| Fall 2022 | September 08, 2022 |
| Spring 2023 | February 09, 2023 |
| Summer 2023 | June 15, 2023 |
Disbursement Schedule
Financial aid funds will be disbursed to student accounts provided all outstanding financial aid requirements have been met. Financial aid funds are first applied to student charges (tuition, fees, books charged, etc.). Students are eligible for financial aid disbursements based on actual start dates for individual classes rather than the starting date of the current semester. Only the classes for which the student has begun attendance will be included in the current disbursement.
If a remaining balance exists, a refund (except work-study) will be sent to the student's selected refund preference with BankMobile Disbursements, a technology solution powered by BMTX, Inc. For more information about BankMobile Disbursements, visit the BankMobile Disbursements Refund Choices.
Click here to view our third-party service contract for refund management.
Return of Title IV Funds
How a Withdrawal Affects Financial Aid
Note: This procedure is separate and apart from the state refund policy for tuition and fees. View the state refund policy.
The Return of Title IV Funds procedure shall apply to all students who withdraw, drop out or are expelled from Catawba Valley Community College (CVCC), and receive financial aid from Title IV funds. The term "Title IV Funds" refers to the Federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs:
- Federal Pell Grants
- Federal SEOG
Students who withdraw from all classes prior to completing more than 60% of an enrollment term will have their eligibility for aid recalculated based on the percent of the term completed. For example, a student who withdraws completing only 30% of the term will have "earned" only 30% of any Title IV aid received. The remaining 70% must be returned by the school and/or the student. CVCC encourages students to read this procedure carefully. If a student is thinking about withdrawing from all classes PRIOR to completing 60% of the semester, they should contact the Office of Scholarships and Financial Aid to see how their withdrawal will affect their financial aid. It can negatively affect the student's overall academic progress AND it will create a debt to CVCC, the Department of Education or both that the student is responsible for paying! Once more than 60% of the enrollment term has been completed, students earn all the assistance that they were scheduled to receive for that period.
WITHDRAWAL DATE
As CVCC is an institution that does not require attendance, a student’s withdrawal date is:
- the date the student began the institution’s withdrawal process (as described in the CVCC Catalog) or officially notified the institution of intent to withdraw; or
- the midpoint of the period for a student who leaves without notifying the institution; or the student’s last date of attendance at a documented academically-related activity, if available (see “Unofficial Withdrawal Procedure for Federal Student Aid Purposes Only” below).
Refunds due on all institutional charges, including tuition and fees, will be calculated using the state refund procedure.
CALCULATING THE RETURN OF TITLE IV REFUND
Title IV aid is earned in a prorated manner on a per diem basis up to and including the 60% point in the semester. The percentage of Title IV aid earned shall be calculated by dividing the number of days completed by the student by the total number of days in the semester or term. The percent of term completed shall be the percentage of Title IV aid earned by the student. The total number of calendar days in a term of enrollment shall exclude any scheduled breaks of more than five days.
If a student withdraws from all coursework on or before the 60% of the period, CVCC is required to return a portion of their financial aid that is unearned. The amount of aid that the College will return to the Federal aid programs is the lesser of:
- the total amount of unearned Title IV assistance to be returned; or
- an amount equal to the total institutional charges incurred by the student for the payment period or period of enrollment multiplied by the percentage of the Title IV grant assistance that has not been earned by the student.
As a result of this calculation, federal funds may not cover all unpaid school charges due to CVCC upon the student's withdrawal. Any debt created by CVCC returning a portion of the student's aid to the federal programs is due and payable by the student. Unpaid debts to CVCC will prevent the student from receiving an official academic transcript and prevent the student from registering for more coursework at CVCC until the debt is paid in full.
If a student does not receive all of the funds that was earned, they may be due a post-withdrawal disbursement. If the post-withdrawal disbursement includes loan funds, the student must give their permission before CVCC can disburse them. Students may choose to decline some or all of the loan funds so that they don’t incur additional debt. CVCC will automatically use all or a portion of post-withdrawal disbursement of grant funds for tuition, fees, and other institutional charges. We need the student's permission to use the post-withdrawal grant disbursement for all other school charges. If permission is not given, the student will be offered the funds. However, it may be in the student's best interest to allow CVCC to keep the funds to reduce their debt at the school.
RETURNING FUNDS TO THE DEPARTMENT OF EDUCATION
Unearned Title IV aid shall be returned to the following programs in the following order:
- Federal Pell Grant
- Federal SEOG
- Other Title IV grant programs
Any amount of unearned grant funds that must be returned is called an overpayment. The maximum amount of a grant overpayment that must be repaid is half of the grant funds received or were scheduled to be received. Students do not have to repay a grant overpayment if the original amount of the overpayment is $50 or less. Students must make arrangements with their school or the Department of Education to return the unearned grant funds.
UNOFFICIAL WITHDRAWAL PROCEDURE FOR FEDERAL STUDENT AID PURPOSES ONLY
A student who stops attending class or leaves CVCC without following the official procedures for withdrawal from a course or from CVCC is subject to receiving a grade of “F” posted on their record for each course in question.
Failure to complete courses will have a significant impact on a student’s financial aid status. When a student receives all F's day 38 of the semester. The length of the semester totaled 112 days. The student completes 38 of 112 calendar days (38/112).
|
Example of Impact of Students' Financial Aid |
|
|
Percentage of Title IV aid earned |
34% |
|
Original Pell Award |
$2908.00 |
|
Amount of Title IV aid earned |
$2908.00 x 34% = $988.72 |
|
Amount of Title IV aid unearned (to be returned) |
$2908.00 – $988.72 = $1919.28 |
|
Institutional charges incurred by student |
$1646.94 |
|
Percentage of Title IV aid unearned |
100% - 34% = 66% |
|
Institutional charges unearned |
$1646.94 x 66% = $1086.98 |
|
Pell Grant to be returned to Department of Education |
$1086.98 |
|
Initial amount of unearned Title IV aid due from student |
$1919.28 – $1086.98= $832.30 |
|
Amount of Title IV grant protection |
$2908 x 50% = $1454.00 |
|
Title IV grant fund for student to return |
$832.30 - $1454.00 = $0.00 |
CVCC policy requires the student to repay the unearned institutional charges of $1,086.98 to CVCC. CVCC is required to refer a student for collections upon failure to repay the unearned portion of the institutional charges.
RETURN OF FUNDS POLICY FOR STATE GRANT PROGRAMS PROCEDURE
CVCC is required to complete a withdrawal worksheet provided by the North Carolina State Education Assistance Authority to calculate the amount of funds it must return when a student withdraws on or before the 35% point of the term. In completing the worksheet, “last date of attendance” is determined consistent with Title IV regulations for return of Title IV funds. Any debt to CVCC created by this withdrawal calculation is due and payable by the student.
- Official Withdrawal
- Institutional Charges: If a student is entitled to a refund of tuition and fees, the state grant funds must be returned before issuing the student any funds.
- Non-institutional expenses: If a student withdraws on or before the 35% point of the term, CVCC shall use the state grant withdrawal worksheet and prorate the amount of state funds disbursed for non-institutional expenses and return state funds.
- Any credit balance created by state funds and awaiting disbursement must be returned to the state grant program rather than be released to the student.
- CVCC is not required to return any funds for non-institutional expenses when the student officially withdraws after the 35% point of the term.
- Unofficial withdrawal or no earned academic credit
- If a student does not officially withdraw from a term, CVCC shall determine and document the last date of attendance consistent with regulations for the return of Title IV funds;
- CVCC will use the state-provided worksheet to calculate any required return of state funds; the worksheet will calculate using the same method identified for an official withdrawal.
- If CVCC cannot document the last date of attendance, it shall:
- Use the worksheet to calculate any required return of state funds, noting that the last date of attendance cannot be determined.
- The worksheet will calculate the refund using the 10% point in the semester as of the date of withdrawal if CVCC indicates that the last date of attendance or academic activity could not be established.
- In all cases where a student earns no academic credit for a term, CVCC must determine whether they completed the term. If CVCC determines that the student did not withdraw, but instead completed the courses and earned no academic credit, CVCC is not required to return state funds. If CVCC determines that the student unofficially withdrew, CVCC must use the worksheet to determine if any funds must be returned to state grants. Future disbursements of state aid are subject to Federal Title IV satisfactory academic progress determinations by CVCC.
- If a student does not officially withdraw from a term, CVCC shall determine and document the last date of attendance consistent with regulations for the return of Title IV funds;
ORDER OF RETURN OF STATE FUNDS FOR WITHDRAWAL
The return of state funds required by this policy will be applied to the NC Scholarship up to the maximum amount of funds disbursed from each program:
- NC Scholarship;
- North Carolina National Guard Tuition Assistance Program