Financial Aid Assistance While you and your family are expected to assume a major responsibility for the costs associated with attending a certificate or degree program at the College, there are resources to help you. If you have a demonstrated financial need, or even if you are not able to demonstrate need, you can apply for financial assistance to fund your education. Read on to find out how.Financial Aid Services encourages you to seek financial assistance to help pay for college. Assistance comes in the form of gift aid (grants and scholarships) and self-help aid (loans and employment). Eligibility RequirementsTo be considered for aid eligibility, you must: Be a U.S. citizen or an eligible noncitizen. Be registered with Selective Service (male, U.S. citizens and permanent residents, ages 18-26). Have demonstrated financial need (U.S. Department of Education and Del Mar College will use the information from the Student Aid Report (SAR) to determine the financial need of the student). Attend a school that takes part in one or more of the financial aid pro grams. Be enrolled at least half-time (6 hours) in an eligible program as ap proved by the Department of Education (in some cases, students may receive a Federal Pell Grant for less than half-time enrollment). Be working toward a degree or certificate. Be making satisfactory academic progress as defined by Del Mar Col lege Policy. Refer to “Satisfactory Academic Progress Policy” section. Not owe a refund on any Title IV (Federal Pell Grant, Federal Supple mental Educational Opportunity Grant, Academic Competitiveness Grant or Federal State Student Incentive Grant) or any other Higher Education Grant program received at any institution previously at tended. Refer to “Return of Title IV Funds” under CONSEQUENCES OF WITHDRAWING/DROPPING section. Not be in default on any Title IV Federal Perkins Loan, Federal Stafford Student Loan, Federal Parent Loan for Undergraduate Students (FPLUS), Federal Supplemental Loan to Students (FSLS) or any other Higher Education Act Loan Program received at any institution previously attended. Refer to “Return of Title IV Funds” under CONSE QUENCES OF WITHDRAWING/DROPPING section. Application Process FAFSA: First StepTo qualify for financial assistance, including loans and some scholarships, you must first complete a Free Application for Federal Student Aid (FAFSA). This can be done one of three ways: Complete a Free Application for Federal Student Aid (FAFSA) on the Web, or Complete the FAFSA Renewal Application on the Web. Electronic FAFSAThe U.S. Department of Education has an electronic version of the FAFSA. By using this version, you may reduce the processing time of your application by two to three weeks.Applying on the Web allows you to complete the FAFSA over the Internet in an easy-to-use format. FAFSA on the Web/Renewal FAFSA on the Web can be found at www.fafsa.ed.gov.The questions on the Web application will be listed differently than those on the paper application; therefore, it is important to complete a Pre-Application Worksheet instead of a paper FAFSA to guide you. You can print a copy of the Worksheet from Section I of the FAFSA on the Web home page at www.fafsa.ed.gov or pick up a copy from Financial Aid Services.The Renewal FAFSA is a tremendous time saver as responses from the prior cycles’ FAFSA or Renewal FAFSA are displayed, and you answer only those questions that are likely to have changed from the previous year.The online application procedure is also available in Spanish.Personal Identification Number (PIN)If you applied for the 2011-2012 school year, you will receive an electronic Personal Identification Number (PIN) from the Central Processing Center. This PIN serves as your electronic signature as well as enabling you to access your account information. If you are a dependent student, you must have one parent sign the signature page unless your parent has also obtained a PIN.For more information on the PIN, log on to www. pin.ed.gov. Application Steps Below are six important steps that you need to follow to apply for financial aid. Complete your FAFSA with your correct legal name as it appears on your Social Security Card. Complete the FAFSA or Renewal FAFSA using the actual figures from your 2011 Federal Income Tax Return, annual statements you receive from Social Security, TANF and/or Child Support, including any other documentation of other sources of income. Accuracy is very important when completing this step of the FAFSA, especially these items: a. Adjusted Gross income from the IRS 1040, 1040A, or 1040EZ. b. Income tax paid from the IRS 1040, 1040A, or 1040EZ. c. Income received from other sources, such as gift money from family, private sources, housing, food and other living allowances paid to members of the military, clergy and others (including cash payments and cash value of benefits). d. Household size should reflect only those family members who are being supported by the student or the student’s parents. (Do not include family members who do not fit the description found in the FAFSA instructions). e. Number of family members from the household who are in college (Do not include your parents). f. Cash and savings. g. Investment and other real estate net worth (Do not include the value of the house in which you or your family live). h. Dependent student’s income. After completing the FAFSA online, submit the application electronically and either mail the signature page within 10-14 days or utilize the PIN which serves as an electronic signature. About one week after filing your FAFSA electronically, you should receive a Student Aid Report (SAR) in the mail. If you provided an email address, the SAR will be emailed to you. If you listed Del Mar College on your FAFSA (code 003563) you are not required to bring the SAR to Financial Aid Services. We will receive an Electronic Institutional Student Information Record (ISIR) with your information. The U.S. Department of Education may select your application for a process called Verification. If this occurs, a verification worksheet is required, along with a copy of the most current tax transcript of the person(s) whose income is reported on the FAFSA. Verification of other information, including number in college and number in household, may also be required. Academic transcripts of all college credits are needed. A copy of GED scores/certificate is also needed if applicable. High school graduates should have their transcripts on file at the Office of Admissions and Registrar. Failure to complete any of these steps, or if any of the information is inaccurate or missing, may cause a delay in the processing of your file. In addition to these steps, you may request to schedule a personal interview with financial aid personnel. Financial Aid Deadlines: Priority Priority is given to you when you complete your financial aid file by the priority deadlines and show the greatest documented need. Priority deadlines are established to allow ample time for the processing of your file and timely delivery of funds to you. Applications for financial assistance are accepted after January 1 of each year for the following academic year. It is recommended that you apply at least two months before the priority deadline. Financial Aid Program Deadline Academic Year May 1 Spring Only October 1 Summer Sessions February 15 If the scheduled deadline falls on a holiday or weekend, you have until the next business day to turn in your paperwork. All applications received after the priority deadline are awarded according to the availability of funds on a first-come, first-serve basis. Types Of Aid The source and amount of any aid will depend greatly on your demonstrated need as determined by the U.S. Department of Education and Del Mar College Financial Aid Services. Aid comes in two major forms: gift aid and self-help aid. For detailed information on types of aid, go to www.delmar.edu/finaid. I. Gift Aid There are two kinds of gift aid—grants and scholarships: Grants Del Mar College participates in numerous federal, state and local grant programs. • Federal Pell Grant (FPELL) • Federal Supplemental Educational Opportunity Grant (FSEOG) • Del Mar Student Grant (Resident) (DMSG) • Del Mar Student Grant (Nonresident) (DMSGN)• Texas Grant Initial (TXNEW) • Texas Grant Renewal (TXCON) • Texas Educational Opportunity Grant Initial (TEOG) • Texas Educational Opportunity Grant Renewal (TXTWR) Scholarships Del Mar College offers numerous scholarship opportunities for you. Scholarships are monetary awards that do not have to be repaid. Funding for scholarships is provided from organizations, individuals, companies, foundations and grants. Scholarships are awarded to you on the basis of scholastic achievement, financial need and/or a variety of criteria set by the benefactor. The value of a scholarship award and the awarding process vary according to the discipline or department in which you are applying. Available scholarships and deadlines are as follows: Del Mar College Foundation Scholarships Academic Year - April 30 Applications for Foundation and Alumni Association scholarships will be accepted online. Students must complete a Free Application for Federal Student Aid (FAFSA) prior to applying. For detailed information about how to apply for scholarships, go to Scholarships. II. Self-Help There are two forms of self-help—loans and employment: Loans Loans are available to assist you in meeting your educational costs. All of the loans available are long-term, low-interest loans. No loan may be made if you are unwilling to repay the loan. A prior default or delinquency on a loan or an established history of nonpayment of debts may be taken as evidence of unwillingness to repay the loan. There are three kinds of loans: Student Loans The following student loan programs are available: • Federal Direct Loan Program* • Direct Loan Subsidized (DLSUB) • Direct Loan Unsubsidized (DUNSB) • Direct Loan Unsubsidized-Additional (AUNSB) * The Federal Direct Loan Program consists of both the Federal Subsidized and Unsubsidized student loans; however, the U.S. Department of Education is your lending institution. You will be responsible to it for all your correspondence and repayments. Parent Loans The following is the main parent loan: • Federal Parent Loans for Undergraduate Students (FPLUS) Your parents may borrow funds under this loan program on behalf of you, if you are a dependent undergraduate student. Parents can borrow up to the cost of education minus other financial aid you may have received. Parents must have a good credit history to qualify. For detailed information on how to apply for a FPLUS Loan, go to Parent Loans Alternative Loans Alternative loans are private loans offered by lending institutions. They are not part of the federal government guaranteed loans and should only be used when all other options have been exhausted. Research all possibilities for scholarships, grants, work-study and federal loans before borrowing from an alternative loan program. What should you look for in an Alternative Loan? • Annual Percentage Rate (APR) • Loan Limits • Repayment Terms • Cosigner Requirement • Repayment Incentives • Interest Capitalization • Lender for Federal Loans For detailed information on how to apply for alternative loans, go to Loans. Student Employment Programs You may opt to work part-time, usually on campus, to help pay for college. There are three student employment programs: Federal Work-Study Program (FWSP) Texas College Work-Study Program (TXWKS) Student Assistant Employment Program For detailed information about these student employment programs, go to Employment. Satisfactory Academic Progress Del Mar College has adopted the following Satisfactory Academic Progress policy. These standards apply to all financial aid programs unless the terms of a particular program indicate otherwise: Federal/state regulations require you to be making Satisfactory Academic Progress at the time you receive financial assistance. All financial aid recipients must be enrolled in a program of study leading to a certificate or associate’s degree. For more information, go to Satisfactory Academic Progress. Consequences Of Withdrawing/Dropping It is important that you consider very carefully the consequences of withdrawing/dropping all of your classes at Del Mar College; this can adversely impact your financial aid. Return of Title IV Funds Return of Title IV Funds applies to you if you have been awarded assistance from a federally funded loan or grant and have completely withdrawn (officially or unofficially) from Del Mar College. Your instructor reports your last day of attendance. The Department of Education considers you to have officially withdrawn if you earn all non-passing grades. Calculation of Return Federal aid is earned on a daily prorated basis up to and including the 60% point in the semester. After the 60% point, all aid is considered earned and no refunds/repayments are required. Your Return of Title IV Funds will be calculated accordingly: The percent earned is calculated by dividing the number of calendar days completed by the number of calendar days in the semester. The earned percentage received in federal assistance is the amount you are permitted to keep. The unearned percentage (remaining amount) must be returned to the federal government by both the College and you. This may cause you to owe both the College and the federal government. The percent Del Mar College must return, on your behalf, will be returned to the appropriate federal fund program. The Del Mar College Business Office will bill you for the amount owed to the College. Outstanding balances at the end of the term will be referred to a collection agency by the Del Mar College Business Office. The funds will be refunded to the Federal Funds Program in the following order, if applicable: Unsubsidized Federal Direct Student Loan Subsidized Federal Direct Student Loan Plus Loan Program Pell Grant Program Federal SEOG You must repay the amount owed to the appropriate federal program within 45 days. After the 45th day, if payment is not received, your overpayment will be referred to the Department of Education for collections and to the National Student Loan Database. You must then make repayment arrangements with the Department of Education in order to maintain future eligibility for federal funds. Summary Financial Aid Services is ready to assist you with exploring options to financing your higher education costs.