What is the next step?
How are funds awarded?
The student's records are received into the Banner Software System through the records download process. The students are then assigned to tracking groups based on the Department of Education. If any discrepancies exist on the record the institution can place a student’s file into a verification status at their discretion.
Students are awarded on a first come basis. A file must be completed and "verified" students are required to document all income information.
What now must be determined is the actual educational need.
Need is calculated using the following formula:Cost of education:
Tuition and/or enrollment fees
Books and supplies
Room and Board
Minus student/parent/spouse contribution:
This is the amount you are expected to contribute to your education, your estimated family contributiuon(EFC).
Equals your need:
This is the amount of funds in financial aid that the college is able to award a student in an academic year.
After a student applies for financial aid online with the FAFSA, a Student Aid Report (SAR) will be mailed to the student.
The SAR indicates the EFC (Estimated Family Contribution). The Financial Aid Office receives your information submitted to the Department of Education electronically. Student's files are downloaded into the Banner Software System weekly during our peak periods. Students are not required to submit their SAR's to the Financial Aid Office.
Now that NEED is determined, what happens next?
The aid package is the final step in an attempt to meet the student's eligibility with program dollars.
Scholarships and Grants
Scholarships and Grants are monetary awards that do not have to be repaid. Scholarships are awarded based on student's academic merit. Grants are offered to students who have a financial need.
Federal Work-Study (part time employment on campus)
Work-study funds are earned through campus employment. There are a limited number of campus employment positions and FWS is awarded on a first come basis.
PORTERVILLE COLLEGE IS NOT CURRENTLY PARTICIPATING IN THE STUDENT LOAN PROGRAM