Fall 2015-2016 Financial Aid Updates
There are several changes in processing of financial aid that may affect you. Please carefully read the information below and contact the Financial Aid Office if you have questions.
- The maximum Pell Grant award for the 2015-2016 year is $5775. SEOG awards will average $500 and HEAPS (WV Part-time Grant) will be based on up to six credit hours of tuition.
- Current and Prospective Students, who are turning in ANY paperwork to the Financial Aid Office via mail, walk-in, or fax please be sure you label ALL documentation with your student ID number and name so that your paperwork can be identified and processed in a timely manner.
- Please review the Satisfactory Academic Progress Policy for financial aid, which was effective July 1, 2011. The New Policy and Process may have a strong impact on current or future aid eligibility. You may review this information on our website at http://www.blueridgectc.edu/financial-aid/satisfactory-academic-progress/.
- Federal Pell Grant Duration of Eligibility – Public Law 112-74 amended HEA section 401(c)(5) to reduce the duration of a student’s eligibility to receive a Federal Pell Grant from 18 semesters (or its equivalent) to 12 semesters (or its equivalent). This provision applies to all Federal Pell Grant eligible students. This took into effect during the 2012-13 award year and will remain in effect. The calculation of the duration of a student’s eligibility will include all years of the student’s receipt of Federal Pell Grant funding. This change in the duration of students’ Federal Pell Grant eligibility is not limited only to students who received their first Federal Pell Grant on or after the 2008-2009 award year, as the HEA previously provided when the duration of eligibility was 18 semesters. The Department will send notification to students this applies to.
- Maximum Eligibility period to receive Direct Subsidized Loans- There is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program. This is called your “maximum eligibility period”. You can usually find the published length of any program of study in your institutions catalog. For more information regarding this and the impact on your eligibility please go to http://ifap.ed.gov/eannouncements/attachments/051613DirectSubsidizedLoanLimit150PercentAnnounc1Attach.pdf
- Students who are eligible for Federal Work Study must be enrolled in classes at least half time (six credit hours), and must meet the current Satisfactory Academic Progress Policy.
- The Direct Subsidized Loans for undergraduates with a first disbursement date between July 1, 2015, and June 30, 2016 are 4.29% and for the Direct Parent Plus Loan 6.84%
- Generally, students will not be awarded the WV Grant or HEAPS in conjunction with SEOG in the same semester.
- The Finance Office determines all financial aid refund check dates and relays that information through email to your Blue Ridge student email account. Please make sure that you have satisfactorily completed ALL requirements for financial aid. The most common requirements that are not completed – for student loan purposes – are the master promissory note and entrance counseling. Please check your BRIDGE account to make sure all outstanding requirements are completed. Otherwise, this will delay your refund. Thereafter, refunds will be issued each Friday in the Finance Office. You must provide your Blue Ridge Student ID in order to pick up your refund!