Phoenix College Financial Aid Office
ABOUT YOUR FINANCIAL AID AWARD
It is the student’s responsibility to understand their rights and responsibilities when receiving financial aid. Therefore, the following information is provided to make you aware of some of the most common policies, procedures and federal regulations that affect students and receipt of financial aid at Phoenix College (PC). Please also read the following informational material available on the PC Financial Aid Office website at www.phoenixcollege.edu/faid:
2015-2016 For Your Information
Standards of Satisfactory Academic Progress (SAP) for Financial Aid Eligibility
Pell Grant Awarding Policy
Direct Loan General Policies and Procedures
I. GENERAL TERMS AND CONDITIONS
- To receive financial aid, you must be pursuing an eligible degree or certificate program. In addition, you must have a high school diploma, GED or have been home-schooled.
- You are expected to understand your responsibility in regard to the Standards of Satisfactory Academic Progress (SAP) for financial aid recipients at this institution. Failure to make SAP may result in withholding or canceling all or part of your financial aid award(s). Please refer to the Standards of Satisfactory Academic Progress for Financial Aid Eligibility Policy available on the PC Financial Aid Office website.
- Additional assistance received from ANY source since filing your financial aid application must be reported to the Financial Aid Office. Additional assistance could include, but is not limited to, outside donor scholarships, tribal monies paid directly to you or on your behalf, and awards. Any changes in course load, name, state residency for tuition and fee purposes, should also be reported to the Financial Aid Office.
- Revisions may be made to this award as a result of changes in your eligibility, academic status, or your failure to comply with federal and state laws or regulations, and college policies. The college reserves the right to verify attendance, and review, revise, or terminate your financial aid award at any time.
- In accordance with federal regulations, you may be required to repay federal financial aid if you completely withdraw from all classes during a period of enrollment. Any refunds and deposits are applied to institutional debts and/or federal programs as regulated by law. Please visit the Return to Title IV Funds Procedure page for a breakdown of the process.
- You must notify the Financial Aid Office in writing to decline any financial aid awarded. Cancellation of financial aid awards do not automatically cancel enrollment. It is your responsibility to follow proper withdrawal procedures through the Admissions and Record Office if you do not wish to be enrolled at Phoenix College.
- You may not receive federal aid from more than one school for the same period of enrollment. Doing so may require you to repay all federal aid awarded during that period.
II. YOUR FINANCIAL AID AWARD
- If your Financial Aid Award Notification Letter includes a Pell grant, you must be registered for all classes you intend to take in a semester by the dates below. Courses added after these dates will not be considered for Pell Grant payment. Please refer to Pell Grant Awarding Policy available on the PC Financial Aid Office website.
Fall 2016 – August 30, 2016 @7PM MST
Spring 2017 – January 24, 2017 @7PM MST
Summer 2017 - June 1, 2017
- If you wish to be considered for federal aid for courses taken at another institution, submit a completed Consortium Agreement form to the PC Financial Aid Office by the deadline dates indicated above when PC is serving as the parent institution. More information about Consortium Agreements is available on the PC Financial Aid Office website by clicking on Financial Aid Forms.
- If your Financial Aid Award Notification Letter includes a Fed Direct Subsidized and/or Unsubsidized Loan, you must complete a Master Promissory Note (MPN) at least once per academic year and within thirty days of the award or by the end of the add/drop period, whichever comes first. PC will not receive loan funds until the MPN is completed. For instructions on how to complete your MPN, how to reduce your loan amount, applying for additional Direct Stafford Loan Funds and your rights and responsibilities, please read the Federal Direct Student Loan Requirements and Information.
- If your Financial Aid Award Notification Letter includes a Federal Work-Study (FWS) award, the amount indicated is the maximum dollars you may earn in a part-time job on-campus. Having a FWS award does not guarantee a job or guarantee you will earn all the dollars awarded. More information about the Federal Work-Study program and hiring procedures is available on the PC Financial Aid Office website.
III. FINANCIAL AID DISBURSEMENT
- Disbursement Schedule: Financial aid awards are scheduled to post to student accounts at their home institution during the second full week after their earliest class for the term starts. Excess aid (the amount remaining after all tuition, fees, book advance, and any other related charges are covered) will be disbursed through the MSRP process. Students should not expect their funds any earlier than the third week after their earliest class start, dependent upon the MSRP delivery method selected.
- Some of the reasons that may prevent a financial aid refund from generating are:
- Your level of enrollment does not match your financial aid award amount.
- Your prior semester grades still need to be evaluated or recorded by the Admissions and Records Office.
- PC has an incorrect address for you. Please verify/update your address by logging into your Student Center at My.maricopa.edu.
- You have an outstanding debt at a Maricopa Community College.
- You are enrolled in courses with different start dates in a semester. This may delay receipt of financial aid funds.
- The amount of your tuition/fees and book costs incurred is greater than your grant, scholarship and/or loan award.
- The Financial Aid Office has a hold on your aid award.
If you have any questions about any of the information contained here, financial aid in general or information on your Financial Aid Award Notification Letter, please contact the Financial Aid Office.