Financial Aid

Financial Aid

What is Financial Aid?

Financial Aid is money that the government and other organizations give you or lend you so you can pay for your higher education expenses. The programs authorized under Title IV of the Higher Education Act of 1965 are grants, loans and work-study funds from the federal government to eligible students enrolled in college or universities. To qualify for federal financial aid, you must apply every academic year using the Free Application for Federal Student Aid (FAFSA).

The U.S. Department of Education awards more than $120 billion a year in grants, work-study funds, and loans to more than 13 million students. Federal student aid covers such expenses as tuition and fees, room and board, books and supplies, and transportation.

What is the FAFSA Application?

To apply for federal student aid, such as federal Grants, Work-Study, and Loans, you need to complete the FAFSA application. Completing and submitting the FAFSA is free and easier than ever, and it gives you access to the largest source of financial aid to pay for college or university. In addition, many states and colleges use your FAFSA information to determine your eligibility for state and school aid, and some private financial aid providers may use your FAFSA information to determine whether you qualify for their aid.

Federal student aid includes:

• Grants—financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund)

• Loans— borrowed money for college or university; you must repay your loans, with interest(Laredo College does not participate in federal , state or private students loans since fall 2012)

• Work-Study—a work program through which you earn money to help you pay for school

When do I fill out the FAFSA application?

• For the 2019–20 year, you can apply between Oct. 1, 2019, and June 30, 2020 (Using the 2017 tax information)

• For the 2020–21 year, you can apply between Oct. 1, 2020, and June 30, 2021 (Using the 2018 tax information)

There are a few federal student aid programs that have limited funds, so be sure to apply as soon as you can.

FAFSA applicants must provide income information from the “prior-prior tax year.” For example, 2019–20 applicants must report 2017 income information. As a result of using “prior-prior tax year information"more students and families will be able to complete their FAFSA using income information imported electronically from the IRS.

Steps to fill out FAFSA:

1. Log in to www.fsaid.ed.gov and create an FSA ID and Password

2. Complete the FAFSA by logging on to fafsa.gov (Must apply every academic year, starting October 1st.)  and completing all requirements.

3. Be registered for three eligible hours or more for most types of aid in the summer, or six eligible hours or more for most types of aid (except PELL) in the Fall/Spring.

4. Meet all requirements before the priority deadline.

• Fall March 1
• Spring November 1
• Summer May 1

The institutional policy for packaging grants, and employment assistance for students is as follows:

Packaging for eligible flexible entry classes will be done at the end of the semester and funds for those classes will be disbursed accordingly.

Students are awarded a combination of funds from all programs for which they qualify. Students are required to apply using the FAFSA to be processed for all aid programs. The financial aid package will attempt to meet 70% of the student’s need with grant assistance and 30% with self-help (Work-Study).

Students not eligible for a Federal Pell Grant but who demonstrate financial need, as defined by the federal government, may be eligible for campus-based programs (Federal Work-Study).

Students enrolled for the summer sessions may receive, if eligible, SEOG, PELL, and Federal Work-Study.

Ability to Benefit

Laredo College offers a variety of financial aid programs to help qualifying students meet the expenses of their college education. Federal regulations require students to have a valid GED or a valid high school diploma or Homeschool setting approved under state law. Any student whose first enrollment in any Title IV eligible postsecondary program was on or after July 1, 2015, and is eligible under one of the Ability To Benefit alternatives for enrollment in an eligible career pathway program.

Consolidated Appropriations Act, 2012 (Public Law 112-74) that affected the Federal student aid programs authorized under Title IV of the Higher Education Act of 1965, as amended (HEA). Public Law 112-74 changed the Federal student aid eligibility criteria for students who do not have a high school diploma or the recognized equivalent of a high school diploma. The new law eliminated all but one (completion of a homeschooling program) of the eligibility alternatives that were available to them.

Financial Aid Verification

What does it mean to be selected for verification?

Verification is a process to confirm that the information you or your parents provided on your FAFSA is accurate. Laredo College Student Financial Aid & Veterans Affairs Services Center is federally obligated to verify all financial aid applicants that have been selected by the U.S. Department of Education.

Who selects the student’s FAFSA application for verification?

The U.S. Department of Education (DOE) randomly selects some Free Application for Federal Student Aid (FAFSAs) for verification others are selected by the institution to clarify discrepancies in the data entered on the FAFSA.

Please be advised not all students selected for verification have to submit the same documents. Every case is different.  

Students are notified by the Department of Education that they have been selected for verification when they print out their student aid report (SAR) after their application has been reviewed and processed by the Department of Education (DOE). Furthermore, Laredo College Student Financial Aid & Veterans Affairs Services Center will send an email or text notifying the students that he or she were selected for verification.

Student Financial Aid Verification Tool:

The Student Financial Aid Verification Tool is a web-based software that will facilitate the collection of data between students and the Student Financial Aid & Veteran Affairs Service Center. No more wasting time waiting in line or making trips to campus. The Student Financial Aid Verification Tool is here to alleviate the wait and is available to students 24/7. Those students who have completed their FAFSA and are selected for verification must turn in all requested documents via the student verification tool. Pending documents can be submitted using the mobile device of their choice. To access the Student Financial Aid Verification Tool please login into your PasPort account, go to the student tab located at the top of the page and click my finances.

According to the U.S. Department of Education, students who do not use the “IRS Data Retrieval Tool” when completing the FAFSA are more likely to get selected for verification. It does not mean that all students that use the “IRS Data Retrieval Tool” won’t be selected. Student selected for verification will have to provide an IRS Tax Return Transcript that can take weeks to obtain and delay your verification process. 

Please note that the IRS DRT may not be available for immediate use after filing your federal taxes. If you filed your taxes electronically, it could take up to 2 weeks for your tax information to become available on the DRT. If you filed a paper tax return, please allow 6-8 weeks to use the DRT.

How do I request a copy of my IRS Tax Transcript or Verification of Non-filing?

IRS Tax Transcripts can be requested one of several ways:

Online through http://www.irs.gov. Under the “Tools” section, select “Get a Tax Transcript”, or by calling 1-800-908-9946

2019-2020 Cost of Attendance

Each college or university determines an estimate of how much it will cost to attend school. An estimated cost of attendance (COA) is designed to assist students with their educational expenses for the academic year.

An estimated cost of attendance includes direct and indirect costs. Direct costs include charges a student pays directly to the college, for example, tuition and fees. Indirect costs include expenses the student will likely incur but will not pay directly to the college. Transportation is an example of an indirect cost.

Each student's cost of attendance is based upon full-time enrollment and residency. After the drop and add period each semester, the cost of attendance will be reduced to reflect less than full-time enrollment.

Satisfactory Academic Progress

Determining Eligibility for Academic and Financial Aid Standing at Laredo College

Student success at Laredo College (LC) is an integral and crucial component of the campus mission. For this reason, policies have been established to help ensure that all students meet academic standards and expectations for success set forth by the institution. Listed below are the Satisfactory Academic Progress policies for determining academic standing and financial aid eligibility. Students must carefully read, understand, and adhere to these policies in order to help them attain their educational goals. The policies and practices presented in this document detail and outline the expectations of successful students at Laredo College.

Satisfactory Academic Progress for determining - Academic Standing

The primary responsibility for acceptable standards of academic student success at LC lies with the student. It is up to him/her to maintain their GPA in accordance with established academic standards. In order for students to be considered to be in good academic standing the following measures must be met. Students attending LC must maintain a minimum overall GPA of 2.0 or better to be considered in good academic standing.

Satisfactory Academic Progress for determining - Financial Aid Eligibility

Federal regulations (34 CFR 668.34) mandate that a student receiving financial assistance under federal Title IV programs must maintain Satisfactory Academic Progress (SAP) in his/her course of study regardless of whether or not financial aid is awarded each semester. Students pursuing a certificate or associate degree are responsible for understanding and adhering to the financial aid satisfactory academic progress policy. It is important for all students to understand that the primary financial responsibility for paying for college lies with the parent and the student. All appropriate applications, documentation, and information must be accurate.In the case of a self-supporting student, the primary financial responsibility lies with the student and/or the spouse, if married. Therefore, the purpose in completing the financial aid application process is to determine the expected contribution from income and assets toward the total cost of education by the student, his/her parents or spouse if married.

Satisfactory Academic Progress Appeal

Satisfactory Academic Progress Appeal (SAP Appeal)

Federal regulations allow for certain student cases in which the institutions may grant a SAP Appeal. This process is called Satisfactory Academic Progress Appeals; the SAP Appeals may be considered if a student’s failure to comply with one or more areas of Satisfactory Academic Progress is due to events beyond the student’s control, such as a student’s extended illness, serious illness or death in the immediate family or other significant life experience that impacted the student’s emotional and/or physical health, and if such mitigating circumstances can be appropriately documented for the specific term(s) in which the deficiency occurred. Eligibility to receive financial aid funds may be regained by appeal. Students wishing to appeal must have a current FAFSA application on file and complete all verification requirements. SAP Appeals are not considered in the Summer. Contact the Student Financial Aid & Veteran Affairs Service Center to obtain a Satisfactory Academic Progress Appeal Form. SAP Appeals are considered on a case-by-case basis; and when granted are granted only once.The following circumstances are not considered extenuating and beyond the student's control, but based on personal choices:

• Incarceration resulting from a guilty verdict
• Voluntary pause, lapse, or termination of employment
• Voluntary overtime
• Young and irresponsible

Return to Title IV Funds (R2T4)

In accordance with federal law, if a student who has been awarded Title IV aid withdraws, is withdrawn, stops attending, or fails to earn a passing grade in a semester, Laredo College must calculate the amount that must be returned by the institution and/or student to Title IV programs.

If the amount awarded to the student is greater than the amount the student earned, unearned funds must be returned. If the amount awarded to the student is less than the amount the student earned, and for which the student is otherwise eligible, the student is eligible to receive a post-withdrawal disbursement of the earned aid that was not received.

Higher Education Amendments of 1998, Public Law 105-244 (the Amendments of 1998)

Students who completely withdraw from classes and who received federal or state financial assistance MUST refund to the appropriate program(s) a percentage of their aid AFTER tuition, fees, institutional short-term loans and other institutional charges or credits have been paid.

This Return to Title IV (R2T4) refund policy comes into effect when the student completely withdraws at or before the 60% point in time (of the semester) or approximately nine (9) weeks into the semester or four (4) weeks into the summer sessions.

Students who receives an "F_" as a grade for all courses will also be considered for a Return to Title IV (R2T4) calculation, unless the student can provide documentation of attendance throughout the full 60% of the semester. The Student Financial Aid & Veterans Affairs Service Center makes every effort to verify the student's attendance, but ultimately it is the student's responsibility to provide the Student Financial Aid & Veterans Affairs Service Center with evidence that he/she attended the class(es).

Failure to return the funds will result in an administrative "hold" being placed on all student records and ineligible for future financial assistance at any institution.

Please refer to the Student Financial Aid & Veterans Affairs Service Centers Handbook in the Laredo College's student portal; PASPort (PASPort website) under the "STUDENT" tab in the "LC Financial Aid Forms", for the specific calculation used in determining the amount required to be refunded to the federal government.

Attendance Regulations

Regular and punctual attendance is expected of each student in every class. Responsibility for class attendance rests with the student. A student absent from class bears full responsibility for all material covered in class.

Attendance records will be kept for the first 12 class days during the fall semester and the spring semester, the first two days during Maymester, first four class days during the summer session. Students who fail to attend class during this period will be administratively withdrawn from the course by the instructor. No formal attendance is required after the official census date except in cases where a program is required to keep attendance records by their respective accreditation agency.

Students have the right and the responsibility to initiate a drop request from any course. Requests for withdrawal from a course may be submitted online or at the Office of the Registrar and Admissions.

Students on financial aid will be required to return financial aid funds if a non-participatory grade is received for all classes.

Non-Participatory Grading:

F_ - Failing

NC_ - No credit

NP_ - No pass

NPDV - No pass developmental

NCDV - No credit developmental

Department of Education (DOE) Definitions of Failing grade:

When students are awarded an F or F_ at the end of the semester. The difference is as follows:

• F (Failing) is awarded to students who complete the course but fail to achieve the course objectives or earn a passing grade.
• F_ (Non Participatory Failure) is awarded to students who did not officially withdraw from the course but who failed to participate in course activities.

Department of Education (DOE) definition of Academically Related Activities:

Face to Face Courses:

• Physically attending a class where there is an opportunity for direct interaction between the instructor and students;
• Submitting an academic assignment;
• Taking an exam, an interactive tutorial or computer-assisted instruction;
• Attending a study group that is assigned by the school;
• Participating in an online discussion about academic matters; and
• Initiating contact with a faculty member to ask a question about the academic subject studies in the course.

Distance Education Courses:

• Documenting that a student has logged onto an on-line class is not sufficient by itself.
• School must demonstrate that a student participated in class or was otherwise engaged in an academically related activity such as contributing to an on-line discussion or initiating contact with a faculty member to ask a course related question.

Other Grades (for documentation purposes only):

• NC (no credit) is awarded to students who complete the course but fail to earn credit.
• NC_ (no credit for non-participation) is awarded to students who did not officially withdraw from the course but who failed to participate in course activities.
• NP (no pass) is awarded to students who complete the course but fail to earn credit.
• NP_ (no pass for non-participation) is awarded to students who did not officially withdraw from the course but who failed to participate in course activities.
• Due to the current grading history the developmental courses underscore is opposite of the F grade.
• NP_DV (no credit developmental course) is awarded to students who complete the course but fail to earn credit.
• NPDV (no credit developmental for non-participation) is awarded to students who did not officially withdraw from the course but who failed to participate in course activities.
• NC_DV (no credit developmental course) is awarded to students who complete the course but fail to earn credit.
• NCDV (no credit developmental for non-participation) is awarded to students who did not officially withdraw from the course but who failed to participate in course activities.

Withdrawals

Students are responsible for withdrawing from courses after the official reporting day.

In order to assist with attendance issues faculty may choose to include participation as part of a course grade.

For more information related to Return to Title IV (R2T4) visit the Student Financial Aid & Veterans Affairs Service Center at the Fort McIntosh or South Campus.

Educational Loans

(Laredo College does not participate in federal William D. Ford Direct Program, State or Private students loans since the fall 2012)  All students who have borrowed a federal educational loan must perform an exit counseling in http:order to stay compliant for federal funding. For more Student Loan information, repayment options and to perform an exit counseling, please visit: www.studentloans.gov or www.studentaid.ed.gov.

Laredo College is committed to support students in succeeding in their federal student loan repayment. To assist, the institution has contracted HigherEDGE® Default Aversion Solutions, (HigherEDGE), an organization that provides borrowers with loan information and support, resources during grace period and throughout repayment. 

Loan Science

Loan Science is an organization designed specifically to serve borrowers with federal and private student loans.The benefits of working with Loan Science, a company with significant experience in both federal and private student loan default management include:

The ability to make contact attempts on a more frequent basis, creating more opportunities to provide the personalized assistance your borrowers need.

Industry-leading analytics that allow Loan Science to tailor outreach efforts to specific at-risk populations and provide you with enhanced reporting to illustrate success.

A track record of success when working with institutions with very high cohort default rates.

Loan Science has taken steps to comply with the Department of Education third party servicer regulations.

It's staff understands the repayment process, and their employees are trained to offer help for all types of borrowers, no matter the circumstance. Loan Science is a third-party service provider, not affiliated with any loan servicer or loan holders.

How can Loan Science help you?

Loan Science serves as your guide during grace period and repayment. Loan Science counselors answers student concerns, questions and explains options available to students. Students interested in knowing their servicer, wanting more information about repayment plans, or have concerns about making payments, Loan Science will assist. We have begun working with Loan Science, the leader in federal student loan debt management counseling, and default prevention.

Have questions?

Contact Loan Science at:

Phone: 866.311.9450

Email: contact@loansciences.com

Mailing: Loan Science

P.O. Box 81671

Austin, Texas 78708-9921

Grants

Scholarships

Laredo College offers a limited number of scholarships that have been generously donated in honor of individuals or organizations. Each of these scholarships has specific and unique criteria. While some are available to one or more students each academic year, others are renewable and only become available after the current recipient has graduated or becomes ineligible for the scholarship. Scholarships are designed to reward, encourage, and assist students in pursuing academic excellence, athletics, financial need, campus/community activities, and leadership roles. Because competition for scholarships is intense, merit scholarships are usually available only to the most outstanding new freshmen and continuing students as determined by the LC Scholarship Committee.

Unless otherwise noted, students must complete the General Scholarship Application and submit the application to the Student Financial Aid & Veterans Affairs Services Center anytime throughout the year. Please visit the Student Financial Aid website www.laredo.edu/cms/fa. If you do not have Internet access, contact either center for alternative application instructions. This application only applies to scholarships awarded by the Student Financial Aid & Veterans Affairs Services Center . The scholarship application remains open through out the year. Some students are automatically considered from the college’s transcript records. Most scholarships are awarded in the late spring or early summer for the upcoming academic year.

How do I find scholarships?

Students can learn about scholarships in several ways, including contacting the Student Financial Aid at the school students plan to attend and checking information in a public library or online. Be careful and make sure scholarship information and offers students receive are legitimate; and remember that students do not have to pay to find scholarships or other financial aid. Check out our information on how to avoid scams. For an updated listing of scholarships available please contact either of the Student Financial Aid & Veterans Affairs Services Center located at the Ft. McIntosh or the South Campus.

Try these free sources of information about scholarships:

• The financial aid office at a college or career school
• high school or TRIO counselor
• The U.S. Department of Labor’s FREE scholarship search tool
• Federal agencies
• Your state grant agency
• Your library’s reference section
• Foundations, religious or community organizations, local businesses, or civic groups
• Organizations (including professional associations) related to your field of interest
• Ethnicity-based organizations
• Your employer or your parents’ employers

Over Awards

Federal and state regulations mandate that a student’s total financial aid package (grants and other resources) cannot exceed the student’s financial need. Financial need is defined as Cost of Attendance minus Expected Family Contribution (EFC calculated with FAFSA). Once a student has been selected as a scholarship recipient, the Student Financial Aid & Veterans Affairs Services Center must ensure that the student is not over awarded. Over awards occur when the student’s financial aid package exceeds his or her financial need.

Over Award Example:

Example: A dependent student, Marissa who is living at home with parents and is enrolled for fall and spring full time. Marissa’s total Cost of Attendance is $15,536 and has an Expected Family Contribution (EFC) of $1,120. Marissa’s financial need ($15,536-$1,120) is $14,416. Marissa's Pell Grant Award is $4,626, Texas Grant of $1,325, and a scholarships totaling $9,000 +Pell $4,626+ Texas $1,325 =$14,951. The total awards caused an over award. In such cases, the student must decline one of the awards.

For more information about Scholarships please visit our website: www.laredo.edu/cms/fa.

Work Study Program

The Federal and State work study programs provide part-time employment for students who demonstrate financial need in order to off set the cost of higher education. Work Study employment allows students the opportunity to earn their aid and is not intended to interfere with a student's education. Student's studies are given first priority.The program encourages community service work and work related to the student’s course of study.

Students who require financial assistance may apply for the Federal, or Texas Work Study Program. The Federal Work Study Program provides on-campus and off-campus part-time employment for undergraduates students. The work study program enables students who are enrolled in at least 6 eligible hours to help pay for their college related expenses. Review the Student Financial Aid website for more details; availability of work study positions will be found on-line at the financial aid website www.laredo.edu.cms.fa. Students under work-study must meet Financial Aid Satisfactory Academic Progress standards.