1. The Financial Aid Office reserves the right to verify all documents submitted for your file along with information provided on your FAFSA at any time. During the review process, it may be determined that more documentation or information is needed to resolve conflicting information. Until the additional information is provided, no further processing will be done on your file. The final determination of your eligibility may be delayed if corrections are needed or other information is required.
2. Financial aid must be used only for educational expenses at IVC during the enrollment period. Educational expenses include "direct" costs such as tuition, fees, books and supplies. Other costs that may be considered are "indirect" costs such as room and board (rent, food, utilities, household supplies), transportation (bus fare, gas, emergency vehicle repairs), and personal/miscellaneous.
3. Financial aid awards are processed on the basis of fulltime attendance. If you enroll in less than 12 units per semester your Pell Grant and/or your Cal Grant payments will be adjusted. Pell Grants are paid in 2 payments over the semester. Your payments will be based on your enrollment status at the freeze date. If you add units after the freeze date, you will not receive an increase or additional payments. Please refer to the Financial Aid Disbursement section on our website for more information and the specific payment dates for each semester.
4. If you were paid aid and failed to begin attendance in the courses, you will owe a repayment of 100% of the funds. If you do not attend a late start class and have received payment for these classes, your eligibility will be recalculated to determine if funds must be repaid.
5. If your legal or mailing address is located in another state and you are enrolled in all online (web) classes, you will not be eligible for federal financial aid. If you feel your status is incorrect, you must come into the Financial Aid Office and provide appropriate documentation to show you reside in California.
6. You must be enrolled in an approved program of study leading to a degree, certificate or transfer to a four-year college.
7. You must maintain Satisfactory Academic Progress (SAP). Your academic history will be reviewed annually, even if you have not received financial aid before. To be in "Good Standing" for Financial Aid, you must meet all of the standards of Satisfactory Academic Progress (SAP).
8. You will not be eligible for aid if you owe a repayment or overpayment on a Pell Grant, SEOG, or other federal grant from any college.
9. You will not be eligible for any federal aid if you are in "Default" on a Stafford, Direct, PLUS, SLS, or Perkins Loan or other federal loans from any institution. You may regain eligibility by providing proof that you have made satisfactory repayment for six (6) consecutive months, consolidated, or paid your loan(s) in full. You may then regain eligibility for federal grants and loans. You must continue to make your monthly payments. You may need to provide proof every year that you have maintained your monthly payments. If you miss a payment, you will become ineligible and you will have to make payments for 12 consecutive months to regain eligibility for any Federal aid.
10. If you receive a federal grant and you drop or withdraw from all classes before the 60% point of the semester, you may owe a repayment. If you are required to repay any unearned portion of your award you will receive a letter detailing the amount you owe and the process for repayment. You will have 45 days from the receipt of that letter to repay the amount in full to the college or your overpayment will be reported to the US Department of Education, which will then contact you for repayment. You will be ineligible for any additional Title IV funds until repayment is made in full.
11. You are required to notify the Financial Aid Office of any outside scholarships or other resources that you receive for or during the academic year. Federal financial aid regulations require that we record your outside funding as a financial resource and add it to the total financial aid package we have offered you. If your total aid from all sources (including the outside funds) exceeds your cost of attendance, we are obligated to reduce your total aid to avoid exceeding the budget limit.
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