Financial Aid

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Welcome
to

• Financial Aid
• Orientation

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• NOTICE
• This orientation must be done in person if you
  live in Cochise County or the surrounding area.
  If you are currently out of the area but will be
  moving to the area for classes you must wait
  until you are here and complete the orientation
  in person.
• If you live an extreme distance from the college
  than you are required to read and fax/mail the
  final page to our office to complete your
  financial aid package.

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Why do we do this?

• 1. KEEP STUDENTS IN SCHOOL
• 2. PEOPLE DO NOT READ
• 3. WHAT YOU DO WITH FINANCIAL
• AID CAN AFFECT YOU FOR YEARS

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Completing the FAFSA

• Have all paperwork ready.
• Taxes, Parent Taxes, W-2s,
• Drivers License, SSN Cards.
• Get a Personnel Identification Number (PIN) for
  student and parent if a dependent student.
  (Keep track of PIN)
• Read all questions completely and TAKE YOUR
  TIME.

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Completing the FAFSA

• 4. Pay attention to the dependency questions. If
  you have a child, but are not married, not
  working and living at home YOU ARE DEPENDENT.
• 5. The FAFSA asks you to list what is on certain
  lines on your taxes, put what is on that line
  even if zero.

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Completing the FAFSA

• 6. If parents refuse to complete the FAFSA
  please contact Financial Aid.
• 7. If a dependent student you and parent must
  sign. If parent is not a US citizen, contact
  Financial Aid.
• 8. Take your time and check everythng before
  you submit. An extra hour on the front can save
  weeks on the back.

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Financial Aid

• What we do
• 1. Pell Grants
• 2. Student Loans
• What we DO NOT DO
• 3. Work-Study
• 4. Scholarships
• 5. We do not send out refund checks

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How is Financial Aid Used

• 1. Tuition and Fees are taken by the school
• before any refund check is sent.
• Pell checks are to be used for Books.
• Anything left is to help students with addition
  school needs.

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Corrections

• DO NOT MAKE ANY CORRECTIONS TO YOUR STUDENT AID
  REPORT.
• MOST CORRECTIONS WILL HAVE NO EFFECT ON YOUR
  AWARD. 
• 3. ALL CORRECTIONS SHOULD BE REFERRED TO THE
  FINANCIAL AID OFFICE!

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Checking Your Financial Aid

• www.cochise.edu MY CC Account, bottom right, open
  link and follow directions.
• Your CC account will tell you
• Requirements
• Awards

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VERIFICATION

• Dependent or independent
• Government chooses 1 out of 3
• Processors choose for errors or needed
  information.
• You must turn-in
• Tax forms must be signed
• Signed Verification worksheet

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WHAT CAUSES VERIFICATION?

• A. Making your own corrections
• Wrong status, having a child does not make a
  student independent.
• Wrong marriage status
• Income (No zero income)
• E. Military BAS/BAH combat pay
• This can add 3-4 weeks to award process

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AWARD LETTERS

• Award letters are not mailed out. Information is
  put on your CC account.
• Award letters will show your full year award,
  based on full-time enrollment.
• If you are not going full-time, your actual
  amount of money may be less.
• If you are awarded scholarships, such as Fry
  Grants they will be listed here.

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Expected Family ContributionEFC

• Comes from information on the FAFSA.
• Income and family size.
• How much money you should be able to spend on
  college without any government aid.

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Cost of Attendance/Student budget

• This is the typical cost of attendance for a
  regular
• full-time student for the entire year, Fall and
  Spring.
• Tuition 1222.00
• Fees 60.00
• Books 1000.00
• Room Board 5900.00
• Transportation 1876.00
• Personal 1350.00
• Loan Fees 60.00
• TOTAL 11486.00

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AID ELIGIBILITY

• Cost of Attendance ( 11486.00 )
• - (EFC) ( 2200.00 )
• Unmet Need ( 9286.00 )
• Is where the Pell awards start.
• WHEN YOUR AWARDS EQUAL COST OF
• ATTENDANCE NO MORE FEDERAL AID CAN
• BE GIVEN.

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Required Forms

• 1. Financial Aid Data Form
• 2. Orientation
• 3. Verification if selected by the government
  or Cochise College.
• Loans
• Loan Acceptance
• Loan Entrance Counseling
• (ONLINE ONLY)
• Proof of Attendance Form.
• 5. Other documents as requested

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When you get refunds

• 1. You are only paid for classes you are
  attending NOW
• 2. Classes starting later, 2nd 8 weeks, part of
  term 4, will be paid when they start
• 3. When a Pell award is made Cochise College
  will take all money owed from the first refund
  check

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Students Responsibilities

• 1.  Pell award adjusted thru last day
• to add. Financial Aid award adjusts
  up and down.
• 2. If a class is cancelled, or you drop a class,
  it is your responsibility to add another class.

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Students Responsibilities

• 3. If you drop below half-time (6credit hours)
  during this drop/add period, you will be
  ineligible for any financial aid.
• 4. All money you received must be returned.

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Students Responsibilities

• 5. If you receive Pell and never attend one or
  more classes, you will have been OVERPAID. You
  will be billed for the overpayment.
• 6. IT IS YOUR RESPONSIBILITY TO DO AN OFFICIAL
  WITHDRAWAL.

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Student Responsibilities

• 7. It is your responsibility to CHANGE YOUR
  ADDRESS AND PHONE NUMBER. With the school.
• 8. It is also your responsibility to know what is
  presented in this Financial Aid Orientation. Not
  matter how long you attend Cochise College.
• 9. Check Higher One website for refund status.

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ROSTER or INSTRUCTOR DROP

• If you are Roster Dropped or Instructor
  Dropped the instructor reports a Last Day of
  Attendance.
• This is the date used for federal Refunds.
• If incorrect the date must be corrected
  through the Instructor and Dean of Student
  Services
• NOT FINANCIAL AID.

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Academic Progress

• 1. You must maintain a cumulative Grade Point
  Average (GPA) of 2.0.
• 2. Completion of  75 of enrollment.
•   (Completion is a letter grade)
• 3. Progress is monitored each semester.

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Academic Progress

• Completion is     
• 12 credits - 9 credits
• 9-11 credits - 7 credits
• 6-8 credits - 5 credits

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REPEAT CLASSES

• If you do not complete a class that
• Pell has paid for, with a letter grade,
• you will not receive money from Pell
• to take that class again.
• Pell does not pay to retake a class you
• passed, but repays for F.

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Appeal Status

• 1. You could be approved, put on probation, or
  be suspended.
• You may be restricted to number of credits Pell
  will pay.
• All appeal results will be sent to your
• Cochise College email account

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Suspended

• You must go to one semester, of 6 credit hours,
  using your own money, and pass with a 2.0. (Must
  be at Cochise College)
• Complete a new progress appeal form.
• You will be restricted to half-time enrollment.

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Restricted Enrollment

• When you reach 96 credit hours,
• either transferred or taken, you
• must turn-in a degree plan from
• the academic counselor.
• 2. Financial Aid pays only for required
  courses on Degree Plan.

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GETTING YOUR PELL

• Checks are mailed by Higher One, not financial
  aid.
• Checks go to the address on your CC account.
• Checks can be sent directly to your bank, Higher
  One Website once you get your card. Remember to
  print out page to send!
• 4. Correct your address with Admissions
• in person, by a telephone call, or email, or at
  your CC account.
•  

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PELL DATES(Regulated by DOE).

• First Pell checks mailed no earlier than 10 days
  prior to first day of class.
• Loans will not be sent until Proof of Attendance
  form is turned-in.

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Why didnt I get a Pell check?

• 1.  Check CC Account for an award.
• 2. If not awarded check your requirements.
• 3. Financial aid awards, Higher One sends the
  checks
• 4. Check your CC account address.
• 5. Check out Higher one website.

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Federal Refunds(Money owed back to the
Government)

• If you
• A . Withdrawal from all classes.
• B . Stop attending classes.
• You could owe a federal refund to the
• government.
• If you receive a Pell refund and never
• attend class(s) you will owe a federal refund.

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Federal Refund

• You receive a bill in the mail for the amount of
  refund you owe.
• 2. You have 45 days to repay the amount owed, or
  make arrangements with Business Office.
• 3. If you do not repay you will be reported to
  the Dept of Education, and your eligibility for
  aid will be suspended.

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Student loans at Cochise College.(Still must do
a FAFSA)

• 1. You must complete the loan entrance
  counseling at the Financial Aid page, at
  www.cochise.edu.
• 2. You must select a lender, or your loan will
  not be processed. ( Cochise College has a lender
  list at our Financial Aid web page, however you
  may choose any lender that will do student
  loans.)

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Student loans at Cochise College.

• 3. You must be in 6 credits at one time during
  the semester. Attending 3 credits per 8 weeks
  will not work.
• 4. You must complete all required LOAN paperwork
  including Proof of Attendance.

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(No Transcript)
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Types of Loans

• Subsidized Stafford Loan Student has unmet need.
  Uncle Sam pays the interest while you are in
  school and in your grace period.
• 2. Unsubsidized Stafford Loan. No unmet need.
  You are responsible for the interest at time of
  disbursement.
• 3. PLUS loan. Parents are responsible for the
  interest at time of disbursement

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BE AWARE OF LENDING LIMITS

• THERE IS A MAXIMUM TO LOANS
• DO NOT MAX OUT YOUR LOANS AT
• THE COMMUNITY COLLEGE LEVEL
• IF YOU PLAN TO GO ON TO THE
• UNIVERSITY THEIR TUITION IS
• MUCH HIGHER

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Student loans at Cochise College.

• Loan limits at Cochise College
• Freshman 15,000
• Sophomore 9,000
• No more than 24,000 in student loans at
  Cochise College.

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Student Responsibilities

• 1. Repaying your loan with interest.
• 2. Complete an exit counseling when you leave
• Cochise College or drop below half-time.
• 3. Keeping track of your lenders.
• Tip Use WWW.NSLDS.ED.GOV to access information
  about all of your student loans. You may also
  contact the Federal Student Aid Information
  Center at 1-800-4-FED-AID or TDD [phone]

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LOAN PROCESS

• Request a Loan.
• Turn in loan acceptance and do online entrance
  counseling.
• Receive a copy of your Master Promissory Note
  (MPN)..

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LOAN PROCESS

• Sign and return the MPN in the enclosed
  envelope.
• When you start class have instructors sign
  Enrollment Verification and return the form to
  financial aid. First time students and borrowers
  wait 30 days.
• Loans always are sent out in two checks.

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NOT REPAYING YOUR STUDENT LOANS.

• Youll be denied federal financial aid for
  college.
• Defaulted loans are reported to national credit
  bureaus.
• Your federal and state income tax refunds may be
  withheld.
• Your wages may be garnished.
• 5. Professional licenses and certifications may
  be revoked.

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INTEREST RATES

• Interest rates are set every July.
• Capped at 8.25.
• Unsub is 5.6.
• Subsidized is 6.8.
• Parent PLUS Loan is 8.50.

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Things to Remember

• 1. Learn to use your CC Account and email.
• 2. Do your FAFSA early.
• 3. You can owe a federal refund, and lose your
• federal aid at every school in America. If
• you stop going to school, or are dropped
• by an instructor.
• 4. You must be in 6 credits for Pell and loans.

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Things to remember

• 5. Sign up for the Higher One Card, NOW!
• 7. Check Higher One website for refund
  information.

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• PLEASE TALK TO FINANCIAL AID IF
• YOU HAVE A PROBLEM OR QUESTION.
• PLEASE DO NOT TALK TO ANOTHER
• DEPARTMENT. THEY MAY NOT HAVE
• GIVE YOU THE RIGHT ANSWER.

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CONTACTS

• General Financial Aid
• atherton_at_cochise.edu
• Veterans
• parrisj_at_cochise.edu
• 520 515-5417/5462

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• Please go to the forms page and complete the
  2007-2008 orientation signature form.
• Once complete mail or fax the form to address on
  the form