FINANCIAL AID QUICK FACTS
Effective Fall 2006 Semester
7 / 13 / 06

All Financial Aid

• Most cash scholarships, loans and PACT will pay for courses that are not required for a Student Degree Plan/Major.
• Books may be charged at the bookstore beginning the first day of class for all types of aid. Pell Grant and Stafford Loans may be charged beginning August 1, 2006. We will publish a day each semester that Pell and Loans may be used to charge aid.
• Students may check their financial aid at any time by logging on to www.wallacestate.edu. They can look at their financial aid summary at any time.
   

Pell Grant

• Students are paid according to amount of money the federal government determined for their eligibility coupled with the number of credit hours they are taking within their major/degree plan.
• Pell Grant will not pay for courses not required by the major/degree plan.
• Pell Grant will receipt (clear in business office) the entire balance owed by a student.
• Pell Grant will pay for repeated courses.
• Pell Grant will not pay for seasonal items in the bookstore such as mugs, clothing (not required for program), car tags, backpacks, etc.
• Students who withdraw from all classes are not eligible to receive a balance refund check.
   

Stafford Loans

• Student must be enrolled a minimum of half time (6 credit hours) status to receive a loan.
• Stafford Loans will pay for a repeated course.
• Stafford Loans will not pay for seasonal items in the bookstore such as mugs, clothing (not required for program), car tags, backpacks, etc.
• Stafford Loans will pay for courses that are not within the students’ program of study/major.
• Students who withdraw from all classes are not eligible to receive a balance refund check.
   

SEOG/ASAP

• Students that qualify on SEOG/ASAP grants will be awarded the same amount of money for dependent and independent students. ($300 per term/ per student for a total of two terms.)
• Students who withdraw from all classes are not eligible to receive a balance refund check.
   

WIA/TAA and Voc Rehab

• Students are required to submit their schedule and grades to their counselor at these state agencies. Students can obtain that information themselves at any time at www.wallacestate.edu.
   

Academic Competitiveness Grant

• Must apply for Pell Grant at www.fafsa.ed.gov
• Must be a U. S. Citizen
• Must be enrolled in a two/four-year degree program
• Must be enrolled full time
• Must be in their first or second academic year of a two or four-year degree program. (Transfer)
• First -year students must have completed high school on or after January 1, 2006 (Spring 2006 Graduates)
• Second-year students must have completed high school on or after January 1, 2005 (Spring 2005 Graduates)
• All AC Grant students must have completed a rigorous high school program of study (Advanced/Honors Diploma) as designated by their state; and
• For a second-year AC Grant, students must have a grade point average (GPA) from their first year of at least a 3.0.