Your Student Center> View Financial Aid will show your Financial Aid Award listing the dollar amounts that you will receive if you are a full-time student. The dollar amounts for most financial aid awards will be adjusted each semester depending on the number of credits in which you enroll.
After enrollment has been confirmed, bookstore charge reconcilliation and all adjustments to aid based on actual enrollment, the Financial Aid Office begins disbursing aid to the Business Office. The Business Office generates refund checks to students within 14 days as required by federal regulation. After the first round of disbursements is sent to the Business Office, aid for late applicants is disbursed on a weekly basis throughout the remainder of the semester/aid year.
Which programs are adjusted?
Pell Grant is normally adjusted according to the chart below.. Some students will be eligible for Pell Grant if enrolled less than half time. Students with high EFC numbers may not be eligible for Pell Grant if enrolled less than full time.
VGAP awards are for full-time students only and will be cancelled if you are not enrolled at full time.
Commonwealth Grant, SEOG Grant, VCCS Grant and Federal Direct Student Loansrequires that students are enrolled in at least half time. Awards will be cancelled for students in less than 6 credits.
Work Study and Germanna Work Study awards are normally not adjusted but will be cancelled if students are not enrolled at least half time.
PTAP (Part Time Tuition Assistance Program) awards are for students enrolled for 1 - 6 credits. This award will be cancelled for students who are not enrolled for 1 - 6 credits.
|Number of Credits||Enrollment Level||Percent of Full Time Award|
|12 or more||Full time||100%|
|9 - 11||Three quarter time||75%|
|6 - 8||Half time||50%|
|5 or less||Less than half time||0%|
Receiving Alternative Loan Funds
In many cases the borrower applies through the lender's web site and the application is certified by the Financial Aid Office. The loan check is sent to the college once the loan is approved and the college applies the loan to the student's tuition and fees balance before distributing the loan funds to the student, and after enrollment has been verified. Any refund due to the student from an alternative student loan will be delivered to the student by mail to the address on file with the Admissions & Records Office. In some cases the loan check is sent directly from the lender to the student.