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New guidelines, regulations apply to financial aid applicants




Financial Aid at PVCC has changed due to the implementation of new federal regulations and guidelines.

According to Ken Clarke, PVCC’s director of financial aid, students applying for financial aid should be aware of the following:

New regulations are slowing the award process:

The Financial Aid office is in the middle of processing student financial aid applications selected for the verification process. Students are experiencing a delay in receiving their financial award because:

• Many students submitted the documents required for the verification process after the June 19, 2012 priority deadline.

• The required documentation for the verification process has changed. Due to new changes in federal regulations, colleges can only accept an IRS tax return transcript for verification. To obtain an IRS tax return transcript, go to the IRS website and click on the "Order a Return or Account Transcript" link, or call 1-800-908-9946.

• The verification process is detailed and lengthy.

Check your college issued email for updates on your financial aid application.

It is important for students to continue to check their student center at My.Maricopa.edu, their “To Do List,” and their official student email for messages and information from the Financial Aid office and the college.

New application process for Federal Direct Unsubsidized loans:

Students who currently have an award for the Federal Direct Subsidized loan and wish to receive an award for the Federal Direct Unsubsidized loan must complete three new steps. Student will discover these three steps as they accept their subsidized loan award. If you have already accepted your subsidized loan and missed this important process, please visit:

http://www.pvc.maricopa.edu/finaid/federal-direct-student-loansloans for review.

Lifetime Pell Eligibility Law: In December 2011, President Obama signed into law the Consolidated Appropriations Act, 2012 (Public Law 112-74). This law has significantly impacted the Pell Grant Program. Beginning in Fall 2012, students are now limited to six years of Pell Grant eligibility during their lifetimes. Therefore, if you are receiving 100 percent of your Pell Grant, then you will exhaust your award at six years. A student’s remaining eligibility will be determined from the first time he or she received a Pell Grant award. For more details visit: http://studentaid.ed.gov/types/grants-scholarships/pell/calculate-eligibility.

Total Lifetime Eligibility Used — LEU

Note: From 2009–10 through 2010–11, it was possible for a student to receive up to two scheduled awards in a year. So some students might have received up to 200 percent for one or more of those years.

Satisfactory Academic Progress: Federal regulations (CFR 668.32(f) and 668.34) require a student to move toward the completion of a degree or certificate within an eligible program when receiving financial aid. For more details visit:

http://www.paradisevalley.edu/finaid/terms-and-conditions

Scholarships: Students are encouraged to seek alternative forms of financial aid to assist them in funding their education. To review scholarship opportunities visit:

http://www.pvc.maricopa.edu/finaid/scholarships.

For more information on how to apply for scholarships see:

http://www.pvc.maricopa.edu/sites/default/files/finaid_scholarshipnutsbolts11.pdf

Things to Remember:

• Students can only receive financial aid for classes that are listed on the curriculum for their degree or certificate. Check with a PVCC academic advisor or the Financial Aid office for more details.

• Financial aid funds are for educational expenses, i.e., related fees, room and board, books, supplies, some transportation and personal expenses. Funds should not be used to purchase a car, property, nonprescription drugs, alcohol, inappropriate entertainment and discretionary items like tattoos.

• Do not write checks based on an anticipated financial aid disbursement.

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