Important Financial aid Terms

Academic Year:
      A period of time KCTCS Colleges use to measure a quantity of study. For example, the academic year may consist of a fall and spring semester, during which you complete a minimum of 24 semester hours. The KCTCS Academic Year begins in July of each year and runs through to June of the following year

Expected Family Contribution (EFC)
      When you apply for federal student aid, the information you report is used in a formula established by the U.S. Congress. The formula determines your Expected Family Contribution (EFC), an amount you and your family could contribute toward your education. If your EFC is below a certain amount (4041 for 2008-2009), you'll be eligible for a Federal Pell Grant, assuming you meet all other eligibility requirements.

Cost of Attendance (COA)
       Cost of attendance is a budget allowance based on an average tuition of 11 hours and average costs used to calculate student need.

2008-2009 Cost of Attendance for KCTCS Students   

 *NOTE:   Transportation is calculated at 25 miles roundtrip x 5 days a week x 32 weeks x .48.5 cents per mile.

      Tuition and books are adjusted based on enrollment. Books and transportation may be adjusted upward with appropriate documentation.

      The estimated total cost of attending a KCTCS college. For full-time students, COA is generally calculated on an annual basis and it includes direct costs such as tuition and fees and indirect costs such as books, supplies, housing, transportation, and other expenses. Other expenses that might affect COA include loan fees incurred, child or dependent care paid, costs related to a disability, illness, or other special circumstances and other miscellaneous expenses approved by the college financial aid administrator within federal guidelines. An adjustment for additional work-related expenses while participating in a Cooperative Education program may be included. Books and supplies will vary. Housing is an expense you may incur, however, KCTCS does not charge you or bill you for housing unless you live on campus. NOTE: Contact your college financial aid administrator if you have unusual expenses that might affect your COA.

Dependent Care: (for All Other Student only)
      An allowance as detemined by the institution for students with one or more dependent is based on expenses reasonably incurred for dependent care and the number and age of such dependents.

1. To include a dependent care allowance in your COA, you must furnish documentation that you have a dependent (i.e. a person who is included in your household size) and that the dependent has care in order for you to attend college.
2. The amount may be determined as an amount per individual dependent.
3. The allowance does not have to reflect actual costs but may be a reasonable projection of the costs expected to be incurred by you for dependent care.
4. To be included, documentation from the caregiver is required

IMPORTANT NOTE:
      Contact the financial aid administrator if you have any unusual expenses that might affect your cost of attendance.

Default:
      Failure to repay a loan according to the terms agreed to when you signed a promissory note. Default also may result from failure to submit requests for deferment or cancellation on time. The consequences of default are severe.

Eligible Program for Financial Aid:
      A course of study that leads to a degree, certificate or diploma and meets the U.S. Department of Education's requirements for an eligible program. To get federal financial aid, you must be enrolled in an eligible program.

Financial Aid Package
      The total financial aid (federal and nonfederal) offered to you by your college. You will receive a Financial Aid Notification or Award Letter from KCTCS Financial Aid system office or your college detailing the types and amounts of financial aid you are eligible to receive for the current Academic Year. Your signature may be required to accept your financial aid package.

General Education Development (GED) Certificate:
      A certificate students receive if they've passed a specific, approved high school equivalency test. Students who don't have a high school diploma but who have a GED may still qualify for federal student aid. A school that admits students without a high school diploma must make a GED program in the vicinity of the school available to these students and must inform them about the program.

Enrollment Status
      The load of coursework you carry during a term (semester). Enrollment status may be either full time or part-time and is generally based on the number of credits you are taking. Twelve credits is required for full time. Financial Aid enrollment status for students pursuing a degree program (AA, AS, AAT, AAS, etc.) or a diploma or certificate is based on credits.

Regular Student:
      One who is enrolled in an institution to obtain a degree, diploma or certificate. Generally, to receive aid from the programs at KCTCS Colleges, you must be a regular student. (See the definition of eligible program.)

Satisfactory Academic Progress
To be eligible to receive federal student aid, you must maintain satisfactory academic progress toward a degree, certificate or diploma. You must meet the written standards of Satisfactory Academic Progress of the college you will attend. You must have a Satisfactor Grade Point Average (GPA) by the end of your first academic year (may be less than two semesters for students not starting in Fall) of study and successfully completed 67% of all classes attempted. You must continue to maintain satisfactory academic progress for the rest of your course of study to remain eligible for all Federal and State Student Financial Aid programs.

Selective Service Registration:
      If required by law, you must register, or arrange to register, with the Selective Service to receive federal student aid. The requirement to register applies to males who were born on or after January 1, 1960, are at least 18 years old, are citizens or eligible noncitizens, and are not currently on active duty in the U.S. Armed Forces. (Citizens of the Federated States of Micronesia, the Marshall Islands, or Palau are exempt from registering.)

Student Aid Report (SAR)
      The SAR is the federal "output document" printed by a FAFSA processor and mailed to you after you have submitted your FAFSA. The SAR contains the family's financial and other information reported by you on the financial aid application. Your eligibility for aid is indicated by the EFC printed on the front of the SAR. KCTCS Colleges participate in the Electronic Data Exchange and other services offered by the U.S. Department of Education and can receive your information by the internet on an institutional document called an Individual Student Information Report (ISIR). Your SAR or the ISIR, and other information furnished by you are used to prepare your financial aid package.

Verification
      A procedure whereby the financial aid officer at the KCTCS college you will attend checks the information you reported in the financial aid application, usually by requesting a copy of the previous year tax returns filed by you, your spouse, and/or your parents. KCTCS Colleges conduct their own form of verification in some cases. In addition, KCTCS Colleges must verify students selected through the Federal Central Processing System, following the procedures established by federal regulations. The FAFSA processor will print an asterisk next to the EFC (on the Student Aid Report (SAR) or the Individual Student Information Report (ISIR)) to identify students who have been selected for verification.