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Financial Aid
Lack of funds is never a good reason for not going to college. Southern participates in a wide variety of scholarships, grants, loans and employment opportunities. Usually, 90-95% of our students who apply for Financial Assistance, receive some type of aid.Generally, aid is either merit-based (awarded based solely on academic ability) or need-based (the difference between the estimated cost of attending college and the family’s ability to pay). Need-based aid includes grants, which do not have to be repaid or earned, and self-help assistance (Federal Family Educational Loans, which must be repaid, Plus Loans for parents, and self-help through the Federal College Work Study Program).
Standards for Financial Assistance
In accordance with federal regulations, Southern West Virginia Community and Technical college has adopted the following standards of academic progress for students applying/receiving financial assistance.Students receiving and/or applying for federal assistance must meet the criteria adopted by the institution for Standards of Academic Progress. The following factors must be met in order to be considered:
Students must complete at least 65% of the total number of hours enrolled each semester.
Students must maintain an overall grade point average of 2.00.
Students who fail to meet this criteria will be notified in writing by the financial assistance office. Students may request, in writing, a semester of probation.
While attending on a probation status, students may not drop/fail any classes and must complete the semester with an overall grade point average of 2.00.
Upon completion of the probation period, the standards of progress are again reviewed. Students who again fail to meet the standards of progress will no longer be eligible to receive federal assistance.
The Financial Aid Office is required by federal statute
to determine how
much financial aid was earned by students who withdraw, drop out, are
dismissed, or take a leave of absence prior to completing 60% of a
payment
period or term.
For a student who withdraws after the 60% point-in-time, there are no
unearned funds. However, a school must still complete a Return
calculation
in order to determine whether the student is eligible for a
post-withdrawal
disbursement.
The calculation is based on the percentage of earned aid using the
following Federal Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days
Financial Aid FAQ
What is financial aid?
Financial aid consists of scholarships, grants, loans and employment opportunities to assist you in financing a postsecondary education.
If you apply for financial assistance through the FAFSA (Free Application for Federal Student Aid), you will receive a PIN number. This is used to reapply for assistance. You must apply for assistance every year during the month of January.
Approximately three weeks after your application is received, you will receive a student aid report (SAR), this is the result of the review of your application. Review this information carefully, do not return it to the processing center unless corrections are required. Check the schools that received your information. Only the schools listed will receive a copy of your SAR.
The school(s) that you listed will contact you if other documents are required.
An award letter from the school containing the cost of attendance and the actual amount you could receive must be received prior to enrollment.
Types of financial aid
Merit-based aid - funds awarded based on academic ability, generally in the form of scholarships or tuition waivers.
Applying for Financial Aid
You can apply for all types of financial assistance by completing the FAFSA (Free Application for Federal Student Aid). FAFSA application forms are available in the financial aid office or the application can be completed online.After applying for federal aid, you will receive a student aid report (SAR). This is the result of the review of your application. Review this information carefully. This is your copy. Do not return this report to the processing center unless corrections are required.
Only the schools listed on the report will receive a copy of this information. The schools that you listed on your application will contact you for any additional additional information required.
If your application is selected for the verification process, you will be required to submit copies of all income information, both taxable and untaxable.
Students applying for state aid must complete the FAFSA. The deadline for applying for most state aid is March 1st of each year. However, applications for the Promise Scholarship must be received before January 31st.
The FAFSA form and the forms for state aid available through the Community and Technical College System of Weset Virginia can be found by clicking on the links below: