Hocking College Financial Aid
Frequently Asked Questions (FAQs)

What is financial aid?

How do I apply?

Obtain a Free Application for Federal Student Aid (FAFSA) by appling for financial aid through the World Wide Web. The website address is: http://www.fafsa.ed.gov/

File as soon as possible after January 1st of each year in order to meet the
government's priority deadline of February 28th. If you miss the government's February 28th deadline, apply anyway! Hocking College takes and processes financial aid all year long. The deadline is only for federal early allocation of funds.

After Hocking receives the results of your FAFSA, you will receive an Award Notification letter in the mail provided you are an admitted student. This letter will tell you what aid you may have received and what you need to do.

How often do I need to apply for financial aid?

Every year! Students must apply for financial aid each academic year. Renewal
reminders are sent by the government each December for the following academic year to anyone who applied for aid the previous year.

How is my financial aid award determined?

The federal government has designed a formula which determines your expected family contribution (EFC), and can be found on your Student Aid Report (SAR). This formula, which is used by colleges and universities throughout the country, estimates your family's financial strength in order to determine the amount your family should be able to contribute to the cost of education for the academic year.

Family income, assets, size of the family, number in college is among the many items evaluated by this formula. The expected family contribution (EFC) is subtracted from the cost of attendance (COA) to determine your financial need.

What is a Student Aid Report (SAR)?

A Student Aid Report is the analysis of the data you reported on the Free Application for Federal Student Aid (FAFSA). The Student Aid Report has your calculated Expected Family Contribution (EFC) on it, and that number is used to determine your eligibility for financial aid.

You should receive your Student Aid Report from the government one to two weeks after filing the FAFSA. Around the same time, Hocking College will receive an electronic notification of the same information, which we use to determine your financial aid award.

If you do not receive your SAR within six weeks after filing the FAFSA, you should contact the Federal Student Information Center at 1-800-433-3243 to check the status.

What is Verification?

Any student who applies for federal student aid can be randomly selected for verification (similar to a tax audit). Once selected for verification, a student must submit certain documents to confirm information on the FAFSA application. These documents may include a copy of the student's, spouse's and/or the parent's federal tax forms (and other similar items) from the previous year. If you are selected for verification, we will notify you and request any forms that are needed. It is very important that you respond quickly with the needed information; your aid cannot be finalized until verification is completed.

How will I know how much financial aid I'm getting?

If a student is eligible for financial aid, he or she will receive a Financial Aid Award
Letter from the college. This letter tells:

• Type(s) of award(s) student will receive.
• Amount(s) available per quarter.
• Terms & conditions student agrees to meet while receiving aid.

The Office of Financial Aid Services begins mailing out Award Letters to students approximately in early March and continues to mail them weekly as necessary. These letters may inform you that we need further information from you in order to finish processing your aid (simply getting an award letter may not mean that you actually have any aid yet). Be sure to read the letter thoroughly and respond to any requests immediately.

If I qualify for financial aid, what does it cover?

This depends on how much aid you receive, but financial aid is allowed to be applied toward the following:

• Tuition
• General Service Fee
• Course Fees
• Residence Hall Fees
• Incidental college charges

If your total charges exceed your financial aid amount, you will have to pay for the extra charges yourself.

Since the college Bookstore is an independent operation, financial aid is not allowed to be used to charge books and supplies at the bookstore. So, plan to pay cash or use checks or credit cards to pay for all charges at the Bookstore.

How much do I need to pay when I register for classes?

Once your financial aid has been finalized, the college compares the amount of aid you have been awarded to the amount of your college charges/costs.

If your aid meets or exceeds your costs.
If you have enough financial aid to cover all your costs, you will have to pay nothing to register (and you might get some money back a few weeks later).

If your aid does not meet your costs.
If your aid is not enough to cover all your costs, you either must pay the difference on your own with cash, check or credit card or sign up on the AES Payment Plan which will allow you to pay what you still owe later. There is a $30 non-refundable charge to get on the payment plan however, so balance this charge out against what you still owe and decide what is best for you.

If your aid is not yet finalized.
If your aid has not been finalized yet by the time you want to register for classes, you will have to pay for your charges at the time of registration (or get on the AES Payment Plan that carries a $30 non-refundable fee).

Then, when and if your aid finally does come through, the aid will be used to cover your costs. You may get all or some of your "cash" back depending on how much financial aid comes through for you.

You must understand, however, that any charges you incur by registering for classes are your responsibility to pay on time and if your financial aid, for some reason, never gets completed and awarded to you, you will have to pay all these costs on your own. That's another good reason to apply for financial aid as early as possible so you find out what your aid eligibility and award amount will be before you try to register.

When will I get my financial aid?

First, all financial aid paperwork must be completed, mailed, filed, received, etc. before the college can perform the process called "Packaging".

Packaging is the computerized construction of your individualized financial aid award package; this can be anything from one scholarship to a whole group of awards such as PELL, ACG, FSEOG, OIG, OCOG, Loans, Scholarships and so on.

But, it's very important to understand that every one of these items has paperwork
(applications, forms, etc.) associated with it and the college does not control many of them at all. Therefore, whether or not you are eligible depends on someone else (usually a government agency) determining whether or not you will be awarded some financial aid.

Also, all that paperwork takes time to go back and forth between you (the
student), the agency, the college (and sometimes back and forth again and again
depending on completion and eligibility). So, file your paperwork early, completely and do everything that is requested of you for follow-up. Also, keep copies of all your paperwork.

Then, if your aid has been finalized (you receive an Award Notification Letter from the college and/or approved student loan promissory note) before the start of the quarter, your aid will be applied to your account approximately 3+ weeks into the quarter.

If your aid is not finalized by the start of the quarter, the college will require you to pay your fees "up front" while we are waiting to see if you qualify for any aid and how much. So, you may have to plan to pay cash or get on the college Payment Plan while your aid is in process. Then, once your aid is finalized, your aid will be applied to your account.

If the amount of aid posted to your account exceeds the charges on your account, you will receive and Overage Refund Check. These checks are always available on the Thursday after the college posts your aid. See Financial Aid for a schedule of postings and check disbursement dates.

On my Award Letter, I received both subsidized and unsubsidized loans. What's the difference?

You must have financial need to qualify for the subsidized loan. The federal government does not charge interest on a SUBSIDIZED loan:

• While the borrower is enrolled in school at least half time (6 credit hours) (or)
• During a six-month grace period after the borrower leaves school or graduates (or)
• During authorized periods of deferments.

However, interest is charged throughout the life of an UNSUBSIDIZED loan, and
interest starts to accrue on the date of disbursement.

What is a Parent's PLUS Loan?

This is a loan that a parent takes out to assist their dependent student with college expenses. The parent must request the PLUS Loan Application directly from the college (this loan is not part of the FAFSA process) and the application is subject to a credit check.

This loan is in the parent's name and it is the responsibility of the parent to pay
back the loan and interest charges. Repayment begins 60 days after the loan has been finally disbursed. If a PLUS loan is disbursed in Fall, Winter and Spring for instance, the payments would begin 60 days after the spring disbursement (which is usually disbursed in April).

The interest rate is variable and subject to change every July 1st, but has a cap of 9%.

If I want a student loan, how do I go about it?

The Loan process has a number of steps to it and always takes time to complete; you can't just "get a loan" on the spot.

Step 1 - Complete the FAFSA
First, in order to even be eligible for loan consideration, you must complete the entire FAFSA financial aid application and approval process like any other student who wants financial aid.

You MUST indicate on your FAFSA that you wish to receive loans.

Step 2 - Sign the Promissory Note.
Once your application is approved and finalized, the college will print out a Promissory Note (Prom Note for short) and mail it to you. As soon as you receive the prom note, sign it and get it back to the college financial aid department right away.

We then have to send the prom note to the federal government for approval. However, if you have a pin number from the U. S. department of education (the same one that is used for the FAFSA), you may speed up the promissory note process by signing online at http://www.dlenote.ed.gov and choosing Hocking Technical College as the school that you want the information to go to. (Make sure that you complete ALL 10 STEPS).

If you do not have a pin number but would like to sign electronically, you may obtain one by applying at http://pin.ed.gov. Your pin number is obtained real-time at the time you apply.

Step 3 - Loan Money Applied to Your Account.
Once your prom note is approved, we can finally apply your loan money to your account. As you can see, this whole process has a number of timely steps; the quicker you act on your end, the sooner we can get your loan money applied.

A student MUST be registered for at least 6 credit hours, in a program, each quarter in order to be eligible to receive loan monies.

New students, are required to attend classes for at least 30 days and complete Loan Entrance Counseling before the college can apply the loan monies. Complete the counseling online by choosing the "Entrance Counseling" option.

What if I need financial aid for the summer quarter?

Students may receive aid during the summer similarly to other quarters (Fall, Winter, and Spring). However, if a student does receive aid during a summer term, it can affect the aid available for other terms during the academic year. Depending on the type of aid you receive, your future aid could be possibly reduced.

For example, you may receive Pell and FSEOG grants only three quarters for each academic year while State grants (OIG and OCOG) can be used all four quarters of the academic year.

Can I get financial aid if I only attend Hocking part-time?

Absolutely (but see above for Loan restrictions)! Most financial aid awards have a part-time allocation.

Hocking College defines full-time enrollment as 12 – 18 credit hours per quarter. Students enrolling less than 12 hours are considered part-time.

The categories are as follows:

• Three-Quarter Time: 9 – 11 credit hours
• Half-Time: 6 – 8 credit hours
• Less Than Half-Time: 5 or less credit hours

What if my family has a special circumstance that will affect how much we can pay?

Students who have special circumstances should contact the Hocking College Office of Financial Aid Services. All requests must be supported thoroughly by full documentation.

If the change in your financial situation involves any of these:

• Loss of income earned from work (due to unemployment, plant closing, termination, retirement or other)
• Loss of nontaxable income (alimony, unemployment, etc.)
• Loss of untaxed income (such as social security benefits, child support, worker's compensation or other); Loss of income due to a disability, separation or divorce, death of a parent or spouse
• Any other reason

You should request a Change of Income Form and return it with all of the necessary documentation as soon as possible.

We will review your request for any allowable changes that may help you and your
family better afford the cost of education.

I receive no help from my parents and live on my own; how can I be "independent" for financial aid purposes?

In order to be independent for financial aid purposes, you must be able to answer "yes" to at least one of the following questions on the 2008-2009 FAFSA (Step Three):

• Were you born before January 1, 1985?
• At the beginning of the 2008-2009 school year, will you be working on a master's or doctorate program (such as an MA, MBA, BD, JD, PhD, EdD, etc.)?
• As of today, are you married?
• Do you have children who receive more than half of their support from you?
• Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2009?
• Are both of your parents deceased or ward of the court or were you a ward of the court until age 18?
• Are you a veteran of the U.S. Armed Forces?

If you cannot answer "yes" to at least one of these questions, then you are considered dependent for the purpose of determining your eligibility for financial aid. You are considered dependent even though you may not live with your parents. You are considered dependent even though your parents may contribute little or nothing towards your education.

This definition of an independent student became law in July of 1992. If you do not meet this definition but have extraordinary circumstances that you can document, you should contact a financial aid counselor for guidance. You may possibly qualify for a Dependency Override.

If I have a bachelor's degree, may I still receive Financial Aid?

Students with a bachelor's degree may still apply for the Federal College Work Study Program and Federal Direct Stafford loans (both subsidized and unsubsidized).

However, students will not be eligible for the Pell, ACG,OIG,OCOG or FSEOG grants.

What happens to my financial aid if I add or drop classes, if I withdraw from
college or if one of my classes is cancelled?

These are complex situations, which can affect your financial aid drastically; do not take such situations lightly.

Since aid levels are always based on your current enrollment status (full-time or part-time), it is very important for you to be aware of your enrollment level at all times.

If your status changes due to any of the situations named above, contact the Hocking College Office of Financial Aid Services immediately to discuss the status of your aid. Also, it is best to hold off changing your schedule until you have discussed with a financial aid associate what the effect on your aid might be by making such a change.

Aid will be reduced if you drop below certain enrollment levels or if you withdraw, the aid may be taken away and you may end up owing both the federal government and the college money.

How do I apply for scholarships?

All students are encouraged to look for scholarships early by inquiring at their local high school, library, parents' place of employment, local religios affiliations, and thier community. The Web is a especially good source for scholarship Information.

Whether you are an incoming freshman student or a returning student, find out about http://www.hocking.edu/financial_aid/scholarships/index.htm.

All applications must be fully completed and returned to theOffice of Financial Aid Services each year by February 28th. or the deadline specified on the application; late applications will not be considered.

Do I have to apply for scholarships every year?

Will I receive a financial aid overage/refund check?

If you receive more financial aid in a quarter than the charges on your account at the college, you may qualify to receive the overage amount in the form of a check. The process that determines this is called Financial Aid Reconciliation (Recon) and the college conducts four (4) Recons each quarter, processed on Friday nights (subject to change if necessary). Typically, aid is applied to accounts on the first recon each quarter.

If a student receives more financial aid than the amount of their account charges, an overage check will be available at Cashier's/Records Office on the Thursday following the Recon.

Check with the Office of Financial Aid Services for overage/refund check dates for the current academic term.

However, in cases where aid cannot be applied at that time because it has not yet been finalized, it will be applied at the next scheduled Recon for that quarter (once finalized).

Can I use my financial aid to charge books or supplies at the Bookstore?

How do I receive Federal Work-Study?

You apply for Federal Work-Study by completing the FAFSA and answering "yes" to the question that asks whether or not you are interested in student employment (#28 on the 2008-2009 FAFSA.

The Office of Financial Aid Services does not place students in employment positions; we are only the office that awards work-study funds. Visit the Office of Student Employment for opportunities and available positions.

The earlier you look into positions available, the better chance you have of obtaining a student employment position of your choice.

If I don't qualify for Federal Work-Study, is there any other way I can work on
campus?

Yes, while not part of financial aid, the college employs students in positions throughout the college through the Part-Time Employment program.

See the Office of Student Employment at Hocking College for employment opportunities and available positions. The earlier you look into positions available, the better chance you have of obtaining a student employment position of your choice.

Will I receive the same amount of financial aid next year?

What should I do if I'm confused or have questions?

Please, Ask, Ask, and Ask! We have a staff of financial aid counselors and specialists available to help you at any time (we are open Monday – Friday 8:00 a.m. – 5:00 p.m. except holidays). See us in the Concourse of John Light Hall or call 1-877-HOCKING, Ext. 7061.

During busy times, please know that we are working as quickly as possible to attend to the needs of all students. You are the reason we are here- and we thank you for your patience.