Financial Assistance

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).

For additional information, contact 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
completed up to the withdrawal date divided by the total days in the
payment period or term. (Any break of five days or more is not counted as
part of the days in the term.) This percentage is also the percentage of
earned aid.

Funds are returned to the appropriate federal program based on the
percentage of unearned aid using the following formula:

Aid to be returned = (100% of the aid that could be disbursed minus the
percentage of earned aid) multiplied by the total amount of aid that could
have been disbursed during the payment period or term.

If a student earned less aid than was disbursed, the institution would be
required to return a portion of the funds and the student would be required
to return a portion of the funds. Keep in mind that when Title IV funds are
returned, the student borrower may owe a debit balance to the institution.

If a student earned more aid than was disbursed to him/her, the institution
would owe the student a post-withdrawal disbursement which must be paid
within 120 days of the student's withdrawal.

The institution must return the amount of Title IV funds for which it is
responsible no later than 45 days after the date of the determination of
the date of the student’s withdrawal.

Refunds are allocated in the following order:

· Unsubsidized Federal Stafford Loans
· Subsidized Federal Stafford Loans
· Unsubsidized Direct Stafford Loans (other than PLUS loans)
· Subsidized Direct Stafford Loans
· Federal Perkins Loans
· Federal Parent (PLUS) Loans
· Direct PLUS Loans
· Federal Pell Grants for which a Return of funds is required
· Federal Supplemental Opportunity Grants for which a Return of funds
is required
· Other assistance under this Title for which a Return of funds is
required (e.g., LEAP)

Last Update - 05/21/2007