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Financial Aid Awarding Process
 
1Determining Eligibility

The Department of Education determines a student's eligibility to receive federal student aid based upon information provided on the FAFSA application; there are many types of aid a student can qualify for.  Students, and parents of dependent students, provide income and asset information when filling out the FAFSA; this information is used by the Department of Education to determine what type of financial resources a student has available to assist with meeting the costs of college attendance.  TVCC, nor its Financial Aid Office, can change the way the Department of Education determines eligibility.

Types of Aid

 

2Determining Financial Need

If it has been determined that a student is eligible to receive federal student aid, then TVCC's Financial Aid Office must then determine the student's financial need.  Need is determined by taking the Cost of Attendance (COA) and subtracting the student's Expected Family Contribution (EFC) and any other financial resources/contributions.  Cost of Attendance is set for each student based upon information provided on the student's FAFSA and the enrollment status of the student as reflected in their My Cardinal Connect student portal.  Expected Family Contribution is calculated by the Department of Education based upon a student's FAFSA information.

Cost of Attendance    -    Expected Family Contirbution    =    Financial Need

 

3Verification (if selected)

TVCC verifies all student files selected by the Department of Education and additional files selected by the reviewer.  Not all students will be selected for the Verification Process.

The additional files selected for verification by the institution can be based upon but not limited to the following criteria:

  • Estimated Taxes
  • Inconsistent Information
  • Information identified by the Department of Education
     

Documentation required for verification may include one or more of the following:

  • Verification Documents
  • Proof of Income (i.e. signed 1040 Tax Return, IRS Tax Transcript, Social Security Statements, IRS Verification of non-filer form)
  • Identity Documents (i.e. Driver Licenses, Social Security Card, Passport, Proof of Citizenship)
     

You can read more about the Verification Process in the Financial Aid Handbook.  Students selected for verification can often find the required forms on our Financial Aid Forms page.

 

 

4Aid Awards are Offered to the Student

Students are awarded their maximum eligibility using various types of aid from different sources to meet the financial need of the student.  TVCC's policy dictates that awards are offered in the following order:

1. Grants
2. Work-Study (student must secure a Work-Study position to qualify for this award)
3. Student Loans

Disbursement & Refund Information