Personal Guide for understanding your Financial Aid

This document is meant to provide additional information and resources for students to maintain eligibility for financial aid. 

At this point, the form is INFORMATIONAL ONLY and is not required for return to the Financial Aid Office.

Our intent is for students to use this as an individual checklist for items to routinely review to ensure all issues (academic and financial) are in good standing.

READ EACH STATEMENT CAREFULLY.  BEFORE CHECKING YOU UNDERSTAND, BE SURE YOU REALLY DO UNDERSTAND. IF YOU DO NOT UNDERSTAND, PLEASE SEEK CLARIFICATION WITH THE FINANCIAL AID OFFICE.

____ I understand that to be eligible for financial aid, I must first meet the general eligibility requirements noted below:

  • Eligibility requirements: You MUST:  
    • Demonstrate financial need (for most programs).
    • Sign statements on the Free Application for Federal Student Aid (FAFSA) stating that:
      • You are not in default on a federal student loan and do not own money on federal student grant. 
      • You will use federal student aid only for educational purposes.
    • Be accepted for enrollment as a degree-seeking in an eligible degree, diploma, or certificate program.
    • Have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau).
    • Meet citizenship requirements.
    • Not have been convicted of drug distribution or drug possession.
    • Have a high school diploma, GED or home school equivalency.
    • If male, register or have registered with the Selective Service between the ages of 18 and 25.
    • Have resolved all issues or problems identified on the Student Aid Report.
    • Not have already earned the equivalent to a Bachelor’s Degree to be considered for the Pell Grant.
    • Complete Verification process, if selected.
    • Not also be enrolled in elementary or secondary school.
    • Be enrolled at least half-time (6 credit hours) for most programs, including the Direct Loan Program.
    • Establish eligibility by attending class and participating in academic activity.
    • Meet Satisfactory Academic Progress (SAP) requirements.

READ EACH STATEMENT CAREFULLY.  BEFORE CHECKING YOU UNDERSTAND, BE SURE YOU REALLY DO UNDERSTAND. IF YOU DO NOT UNDERSTAND, PLEASE SEEK CLARIFICATION WITH THE FINANCIAL AID OFFICE.

____ I understand that financial aid must be used only for approved educational expenses at JCTC during the enrollment period.  Approved allowances that are included in the standard financial aid budget include "direct" costs such as tuition, mandatory fees, and books.   Other costs that may be considered are "indirect" costs such as room and board (rent, food, utilities), transportation (bus fare, gas, emergency vehicle repairs), and personal/miscellaneous.  Pre-existing debts and conditions will not be considered as an expense.    Financial aid is available to assist eligible students by minimizing the financial burden of attending college.   It is intended to assist, NOT REPLACE, resources needed to meet the cost of education.   It is intended to pay for expenses that are incurred as a result of going to college and not intended to pay for day-to-day living expenses.

____ I understand if I officially register and/or enroll in classes at JCTC, that I have created a bill in which tuition must be paid.   Further, I understand it is my responsibility to ensure that this tuition bill is paid by posted tuition payment deadlines.

____ I understand all official college correspondence will be sent to my KCTCS Student Email account and that I should check it regularly to ensure all issues surrounding my education are addressed.

____ I understand to receive student loans, I must ensure I have completed Entrance Loan Counseling and a Master Promissory Note at www.studentloans.gov

____ I understand financial aid disbursements are not scheduled to be applied to student accounts until 3-4 weeks into the term.

____ I understand that I may use anticipated aid that is reflected on my account toward meeting the tuition payment deadline.

____ I understand I can use anticipated aid that is in excess of tuition and fees toward bookstore purchases in the JCTC/Barnes and Noble Bookstore.   Further, I understand that this charging period is only allowed 10 days prior to the long term start and 9 days after for a total 19 day window.

____ I understand that my awards will be posted and I can view them in the KCTCS Student Self Service portal.

____ I understand that my awards are always posted based on full time enrollment in a projected status and will be adjusted for actual enrollment when the census date arrives.   Census date is generally the 8th day of the term.

____ I understand Summer Aid is available for those who qualify. If I have exhausted all current year aid (July 1 to June 30), there may not be funding available for me during the summer enrollment periods.  Plan accordingly - set aside some of your excess funding from other terms to pay summer tuition.

____ I understand that I must apply for financial aid every year at www.fafsa.ed.gov.

____ I understand that Kentuckiana College Access Center is a community agency that partners with JCTC to assist students in completing the FAFSA.   Further, I understand they are not the JCTC Financial Aid Office.

____ I understand if I apply for and receive a student loan, that it must be repaid.   If I fail to repay these loans according to the terms of my Master Promissory Note, I will be considered in default.    Please visit the web site for great information on the consequences of default and how to avoid default.  

____ I understand I will receive a Higher One card in the mail.   I understand that once received, it must be activated so the college will know how to return any funding to me.   I should not discard or disregard.

____ I understand that if my attendance to my classes is not confirmed by the faculty, then my financial aid will be withheld until resolved.

____ I understand that I am expected to maintain satisfactory academic progress (SAP).  To maintain SAP, I must complete 67% of all units attempted with a cumulative Grade Point Average of 2.0 or above.   Further, I understand if I do not maintain SAP, I will enter a WARNING status.   If I do not maintain SAP for the next semester, my financial aid eligibility will be SUSPENDED.    I must also complete educational goals prior to 150% of the published length of my selected program or my financial aid eligibility will be suspended.   If my financial aid eligibility is suspended, I can remain enrolled, but without the benefit of student financial aid resources.

____ I understand that I may appeal financial aid suspension if there are mitigating circumstances that led to the substandard semester.  I also understand that there is no guarantee of appeal approval and that the decision of the Satisfactory Academic Progress Appeal Committee is final.

____ I understand that I am responsible for any tuition payment while my record is being reviewed by the SAP Appeal Committee.

____ I understand that if I withdraw from classes within the first 60% of the term or receive all failing grades or a combination of failing grades and withdrawals/drops, I may be in repayment status for Title IV funds.

____ I understand that if I receive financial aid from more than one school during the same term, I will be in overpayment status and may have to repay all or a portion of my grants.

____ I understand that I may not receive financial aid while I am dually enrolled in secondary or elementary school.

____ I understand that post-secondary education is a privilege not a right.  Financial Aid is made available for eligible students and awards are subject to the availability of funds.

____ I understand that students are strongly encouraged to meet with an academic advisor and to use the college catalog and other college publications to assist them towards achieving their declared program of study.

____ I understand that I must notify JCTC if I intend to transfer to another college during the aid year and plan to receive financial aid at the new college.

____ I understand that I must notify the JCTC Financial Aid Office of any financial assistance received from other sources.  

____ I understand that if for any reason I am deemed ineligible for financial aid and fees that were paid by financial aid become a debt to the college, that I am responsible for payment.

____ I understand that current charges for tuition and fees and minor prior year charges ($200 or less) will be deducted automatically from my financial aid disbursement.

REVIEW DATE: _____________________________  

AID YEAR: ______________________________

STUDENT INITIALS:  _________________________

CONTACT INFORMATION:

JCTC Student financial Aid office
200 W. Broadway
Jefferson Educational Center, 4th floor
Louisville, KY  40202

Phone:  855-246-5282
Fax:  502-213-2498
E-mail:  jefferson-financialaid@kctcs.edu

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