- Census Date and Financial Aid Awards
- Ineligible Programs and Courses
- Return to Title IV Funds
- Satisfactory Academic Progress Policy
- Student Loan Code of Conduct
- Verification
CENSUS DATE AND FINANCIAL AID AWARDS
Students who are eligible for financial aid and enroll at CLC receive an award notification which lists each type of financial aid you may receive. The award amount shown in the award notification is based on your enrollment (credit hour load) at the time the award is processed. If the award is processed for fall term, the award notification will also include a projected award amount if you attend CLC full-time in the spring.
However, the actual amount of aid you receive will be based on your enrollment as of the financial aid census date. Please refer to the class schedule or the Important Dates web page for the 2008-2009 Aid Year census dates. On the census date, the financial aid office will 'freeze' your enrollment and adjust your award to the correct amount based on actual credit hours enrolled. If you enroll in late-starting classes after the financial aid census date, those classes will not be eligible for financial aid. If your award of aid includes a class that has not yet started, you will not be able to drop that class without contacting a financial aid advisor. Your aid will be adjusted after you are permitted to drop and you will be required to return a portion of the aid you received.
Late applicants (awarded after the census date) will be processed during the remainder of the term on a first-come, first-served basis. The amount of the award will be based on enrollment at the time the award is processed. Late awards will be disbursed immediately.
INELIGIBLE PROGRAMS AND COURSES
In order to be eligible to receive financial aid, a student must be enrolled in and actively pursuing a degree or certificate in an eligible program of study. The College of Lake County offers a wide range of associate degrees and certificates in eligible programs. The Associate in Arts, Associate in Science, Associate in Engineering Science, Associate in Fine Arts, Associate in Arts in Teaching and Associate in Applied Science degree programs are eligible. Most career certificate programs that require at least 16 credit hours to complete are eligible as well. (See the specific career certificate for more information on eligibility.)
The College offers courses that meet a wide range of community need. Some courses are not eligible to be included in a financial aid award. Eligible courses are those that may be applied to completion of a degree or certificate, and/or developmental courses that are at a post high school level and prepare a student to take college level classes. Courses that do not meet this criteria, as well as audited courses, non-credit courses, or courses with the prefix of ABE, ADE, ASE, ESL, GED and VST are not eligible for financial aid.
RETURN OF TITLE IV FUNDS
The Higher Education Amendments of 1998, Public Law 105-244 established how Title IV eligibility is determined when a student completely withdraws from school. The Department of Education required this provision to be implemented by all schools starting in October 2000.
The new requirements do not dictate an institution's refund policy as it relates to institutional charges incurred by the student. Instead, the institution is required only to determine the amount of Title IV funds a student has earned as of the date he or she ceases to be enrolled. The amount of Title IV funds earned by the student is based on the amount of time the student was enrolled; it has no relationship to the student's incurred institutional charges.
The percentage of Title IV funds earned by a student who fully withdraws is calculated by simply dividing the number of calendar days the student was enrolled by the number of calendar days in the semester. For example: If a semester contained 112 calendar days and a student withdrew on the 28th calendar day, they would be entitled to 25% of their Title IV funds (28 days attended/112 days in semester = 25%).
Schools are required to calculate the Return of Title IV Funds up through the 60% point of each semester. After the 60% point it is considered that the student has earned 100% of the Title IV funds disbursed. For more information on the College's Withdrawal policies, please refer to the Student Records Policies web page.
Please feel free to contact the Office of Financial Aid if you have any questions concerning this provision.
SATISFACTORY ACADEMIC PROGRESS STANDARDS
FOR FINANCIAL AID RECIPIENTS
The federal government requires that students who receive Title IV financial aid make satisfactory academic progress towards completing their degree. Satisfactory academic progress is measured in three ways:
- COURSE COMPLETION RATE
- PROGRAM TIME FRAME TO COMPLETE DEGREE (Timeframe Limitation)
- GRADE POINT AVERAGE
You must satisfy all three of these standards of progress to maintain financial aid eligibility. Failing to comply with this policy will result in the denial of your financial aid award.
Course Completion Rate Requirement
- Students must successfully complete at least 67% of all course credit hours that are attempted at CLC. A successful completion is defined as earning a grade of 'D' or better. Withdrawals (official or unofficial), incompletes, repeated classes, and remedial courses are included in hours attempted.
- Beginning at the end of the Fall 2009 semester, students who do not comply with the requirement will be put on a one semester probation, but will still receive financial aid for that semester. If 67% completion rate is not achieved by the end of that semester, they will be restricted and will no longer be eligible for financial aid.
Program Timeframe to Complete Degree
Students may pursue completion of a degree program on a full or part-time basis, but the federal government requires that students make progress toward degree completion in a timely fashion. Progress toward completing a degree is measured, not by time, but by a total number of attempted hours allowed to complete the degree. For example, a student pursing a 60 credit hour associate degree will continue to be eligible for financial aid until he/she has attempted 110% of the required number of hours for the degree. For example, in a 60 credit hour degree program, the student may attempt up to 66 credit hours before the time to complete is exceeded. Degrees or certificates of varying lengths are prorated accordingly. Changes in majors and additional degrees include all attempted hours. Once the student's time frame to complete the degree has reached 100%, the student will be placed on probation. When the student's timeframe reaches 110%, the student is placed on restricted status and is no longer eligible for financial aid at the college.
Included in the count of attempted hours are all attempted coursework taken at CLC, transfer credit accepted from other institutions, and any Advanced Placement or CLEP credit. All withdrawal grades, failing grades and incompletes, as well as repeated courses and remedial coursework, are included in the attempted hours count. If a student receives a grade of F or WF in a course and must repeat the course, financial aid will only pay for a second attempt. Additionally, students can only receive financial aid for up to 30 attempted hours of remedial coursework.
Cumulative Grade Point Average Requirement
Students must have a 2.00 Cumulative GPA to graduate from the college, and therefore, must meet the following interim cumulative GPA (remedial courses ARE included in GPA for SAP):
| Hours Attempted |
Cumulative GPA | |||
|---|---|---|---|---|
| 0.00 - 1.49 | 1.50 - 1.99 | 2.00 - 4.00 | ||
| 0-14 | Restriction | Probation | Good Standing | |
| 15 and Above | Restriction | Restriction | Good Standing | |
The above chart displays a student's Satisfactory Academic Progress Status (Good Standing, Probation, or Restriction) as a function of the number of hours attempted and the resulting cumulative GPA.
Financial Aid Probation Status
A student will be placed on Financial Aid Probation for failing to meet the Grade Point Average Requirement as defined by this policy. During the probationary period, the student will maintain their eligibility for financial aid.
Financial Aid Restriction Status
A student will be placed on financial aid restriction and will be denied aid for failing to meet the Course Completion Rate Requirement, Grade Point Average Requirement, and/or for exceeding the Program Time Frame to Complete a Degree Requirement as defined by this policy. During the restriction period, the student will not be eligible for financial aid. Eligibility for financial aid will be regained once the student meets the conditions for satisfactory progress.
Appeal Process
Any student placed on restricted status has the right to appeal. All appeals must be complete and provide detailed information about extenuating circumstances. Extenuating circumstances include: personal illness/accident, serious illness or death within the immediate family, auto accident or other situation beyond the reasonable control of the student. Third-party documentation is required with each appeal when applicable. Documentation may include but is not limited to copies of medical records, accident reports, and/or letters from an academic advisor, work supervisor, or other counselor. Appeals must be submitted in the term for which the student is seeking financial aid. All appeal decisions are final. 2009-2010 SAP Appeal Form
STUDENT LOAN CODE OF CONDUCT
Purpose
Prohibits conflict of interest with the responsibilities of an officer, employee, or agent of CLC with respect to student loans. CLC officers, employees and agents include, but are not limited to:
- Financial aid, admission, and business office personnel;
- Supervisors of financial aid, admission and business office personnel;
- The CLC president; and
- Members of the Board of Trustees.
Prohibition Against Renumeration of the College of Lake County (CLC)
CLC will not solicit or accept anything of value from any lender, guarantor, or servicer in exchange for any advantage or consideration provided by the lending institution related to its student loan activity. This prohibition covers, but is not limited to:
- Revenue-sharing arrangements;
- Any computer hardware for which CLC pays below market prices;
- Any computer software used to manage loans, unless the software can manage disbursements from all lenders; and
- Any printing costs, postage or services.
This does not prevent CLC from soliciting or accepting favorable terms and conditions where the benefit is made directly to student borrowers.
Prohibition Against Renumeration to CLC Officers, Employees and Agents
CLC officers, employees and agents are prohibited from soliciting or accepting any gift, gratuity, favor, discount, entertainment, hospitality, loan or other item having a monetary value of more than a de minimus amount from a lender, guarantor, or servicer of educational loans.
This prohibition includes, but is not limited to, services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance, or reimbursement after the expense has been incurred.
This does not preclude any CLC officer, employee, or agent from receiving compensation for conducting non-college business with a lender, guarantor, or servicer, or from accepting compensation that is offered to the general public.
This prohibition does not prevent CLC from holding membership in any non-profit professional associations.
The following items are not considered "gifts":
- Materials or programs on issues related to loans, default aversion, default prevention, or financial literacy;
- Food, refreshments, training, or informational material furnished to any officer, employee, or agent as an integral part of a training program designed to improve the service of a lender, guarantor, or servicer of education loans to CLC, if such training contributes to the professional development of the officer, employee, or agent;
- Favorable terms, conditions, and borrower benefits on an education loan provided to a student employed by CLC if such terms, conditions, or benefits are comparable to those provided to all students;
- Entrance and exit counseling services provided to borrowers, as long as:
- The institution's staff maintains control of the counseling; and
- The products and services of any lender are not promoted.
- Philanthropic contributions to CLC that are unrelated to education loans and are not made in exchange for any advantage related to education loans;
- State education grants, scholarships, or financial aid funds administered by or on behalf of a State.
Ban on Gifts to Family Members
Gifts to family members of any officer, employee, or agent of CLC will be considered a gift to said officer, employee or agent if:
- The gift is given with the knowledge and acquiescence of the officer, employee, or agent; and
- The officer, employee, or agent has reason to believe the gift was given because of the official position of said officer, employee or agent.
Limits of College Officers, Employees and Agents Participating on Lender Advisory Boards
CLC officers, employees and agents are prohibited from receiving any remuneration for serving as a member or participant on an advisory board of any lender, guarantor or servicer, or receiving any reimbursement of expenses from said participation.
This does not preclude any officer, employee or agent from participating on a lender advisory board unrelated to student loans.
This does not preclude CLC officers, employees and agents not directly or indirectly involved in the affairs of the college's financial aid office from serving on the board of directors of a publicly traded or privately held company.
Contracting Arrangements Prohibited
CLC officers, employees and agents are prohibited from entering into contracting or consulting arrangements, except that:
- An officer, employee, or agent who is not employed in the financial aid office and does not have responsibilities for loans may perform paid or unpaid service on a board of directors of a lender, guarantor or servicer.
- An officer, employee, or agent who is not employed in the financial aid office but does have responsibilities for loans may perform paid or unpaid service on a board of directors of a lender, guarantor or servicer if they recuse themselves, in writing, from decisions involving CLC.
- An officer, employee, or agent of a lender, guarantor, or servicer may serve on the Board of Trustees of CLC if they recuse themselves, in writing, from decisions regarding student lending.
Prohibition on Offers of Funds for Educational Loans
CLC will not solicit or accept any offer of funds for private educational loans or opportunity pool loans in exchange for providing a lender with loan volume or a preferred lender arrangement.
Ban on Staffing Assistance
CLC will not solicit or accept staffing assistance from any lender, except for:
- Professional development training;
- Educational counseling, financial literacy, or debt management materials to borrowers, provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials;
- Short-term staffing assistance to help CLC during emergencies.
Interaction with Borrowers
CLC participates in the Federal Family Education Loan (FFEL) program and all student and parent borrowers are packaged under that program. In respect to FFELP and/or alternative loans:
- CLC will not, for any borrower, assign through award packaging or other methods, the borrower's loan to a particular lender
- CLC will not refuse to certify, or delay certification of, any loan based on the borrower's selection of a particular lender or guaranty agency.
How to Apply for a Stafford Student Loan at CLC
For information about applying for a student loan, see Student Loan Procedures.
VERIFICATION
The process of documenting the information you provided on the FAFSA is called verification. If your application is selected for verification by the Department of Education, you will receive the following message on your Student Aid Report (SAR):
Your application has been selected for review in a process called verification. Your school has the authority to request copies of certain financial documents from you, your parents (if you are dependent) or your spouse (if you are independent and married).
The Financial Aid Office will send you a letter (1) notifying you that you were selected for verification and requesting certain financial documents and (2) a 2008-2009 or 2009-2010 Verification Worksheet (please see our forms section if you need a verification worksheet) for you to complete and return to the office. Each person who entered financial information on your FAFSA must submit signed copies of their recent income tax return. Students should submit all requested documentation within 30 days from the date postmarked on the verification notification letter. If you do not provide the documents requested, you may not receive federal student aid, and you might not receive aid from other nonfederal sources.
If there are differences between your FAFSA and the documents you submitted to the office, we will make corrections to your FAFSA, notify you of the changes, and adjust your financial aid award
The Financial Aid Office can not award you federal or state financial aid until you complete the verification process.