FINANCIAL AID INFORMATION AND PROCESS
2009-2010

If you are considering attending Texarkana College but have questions concerning the financial aid process and/or the programs available, the Financial Aid Office would like to help! Since we realize the financial aid application process can be quite confusing and frustrating, we would like to simplify this as much as possible. Therefore, we have summarized the basic requirements needed to initiate the process. Please feel free to contact the financial aid office at (903) 838-4541for any of your financial aid needs. We look forward to meeting and assisting you with your educational goals and financial aid application.

The Free Application for Federal Student Aid (FASFA) should be completed after January 1 as soon as the income tax return(s) are filed. Applicants must file the FAFSA to apply for federal and state aid. You can submit the application online at www.fafsa.ed.gov. Forms may be obtained from high school guidance offices, the Financial Aid Office and the TC Counseling Center beginning in February. Priority deadlines at TC are: Summer II, May 1; Fall semester/qtr., May 15; Winter quarter, Sept. 1; Spring semester/qtr., Oct. 1; Summer I semester/qtr., April 1.

FAFSA’s are submitted to the Dept. of Education and if Texarkana College (school code 003628) is listed as a school to receive information the financial aid office electronically receives an Institutional Student Information Record.

Students are then sent a contact letter stating information that is needed to begin processing their file. The contact letter begins with “Dear Prospective Student”. Please do not send paperwork before receiving this letter. Paperwork will be accepted after the priority date but award or rejection letters may not be processed for four to six weeks.

All students are required to bring the following documents to the financial aid office.

• TC Financial Aid Application (available at www.texarkanacollege.edu or in the financial aid office)
• High School transcript with date of graduation or High School Diploma or GED
• Transcripts from all colleges/universities attended

Along with the required documentation above, students selected for verification must submit the following documents which pertain to their individual circumstances:

• Signed copy of prior year’s federal income tax return with any schedules and W2’s for student, spouse, and parent(s) if applicable
• Untaxed income documentation from prior year (veteran’s non-educational benefits, worker’s compensation, etc.)
• Verification of separation (if applicable)
• Additional information may be requested

A Texarkana College award or rejection letter is generated stating grant eligibility to students.
Students cannot receive funding until the Texarkana College award letter is generated.

• All new students and students that have not attended Texarkana College since 2003 must complete a Texas Common Application online at www.texarkanacollege.edu before registration.
• After registering in admissions students must sign vouchers in the financial aid office to activate their awards.

To receive financial assistance a student must:

• show need
• have a high school diploma or a General Educational Development (GED)
• be enrolled as a degree or certificate seeking student in an eligible program
• be a U. S. citizen or eligible noncitizen
• have a valid social security number
• make satisfactory academic progress
• not owe a repayment on a PELL Grant, Supplemental Educational Opportunity Grant, or state grant
• not be in default on a Perkins Loan or a Federal Family Education Loan

Determining Financial Need

TC financial assistance programs will enable students with academic aptitude and demonstrated financial need to carry out their educational plans. Institutional funds are intended to close the gap between the family's resources and actual college costs. The gap or difference between the two is called financial need. An assessment of each family's financial situation establishes the basic framework for awarding financial aid.

When a student applies for federal student aid, the information reported is used in a formula established by the U. S. Congress, which calculates Expected Family Contribution (EFC). This becomes the amount a student and/or their family are expected to contribute to the educational costs.

This report is carefully analyzed by the financial aid office and plays an important part in determining how much aid will be made available to the student at TC.

Cost of Attendance

• The elements used in determining the cost of attendance are:
• tuition and fees
• miscellaneous expenses (clothing, personal, medical, etc.)
• books and supplies
• transportation
• dependent daycare
• room and board

Note: COA figures are available in the financial aid office at TC

Verification Process

Verification is a process that is required of all students selected by the Department of Education (DOE). A student file will not be eligible for federal aid until this process is completed.

All students flagged for verification by DOE must submit the following items to the TC financial aid office:

• TC Financial Aid 2009-2010 Application
• TC Financial Aid 2008-2009 Application
• ABC 2008-2009 Worksheet from FAFSA
• Grade Transcript(s) from all college(s) attended
• High School Transcript (with date of graduation) or GED
• Signed copy of Federal Income Tax Return as applies, complete with all schedules and copies of W2's for you, your spouse or parent(s) if applicable. If you do not have a copy of your tax return, you may request one by calling (800) 829-1040.
• Untaxed Income Verification as applies(Veteran's non-educational benefits, workers' compensation, etc.)
• Divorce papers, marriage license, death certificate (if applicable)

To avoid unnecessary delays, please submit all required documents promptly. Documents with blanks and/or missing signatures will be returned! We cannot complete the verification process until we receive complete documentation. Failure to report or document information on the application accurately may result in loss of eligibility, require repayment, or fines.

Student Responsibilities

Students receiving financial aid must inform the Financial Aid Office when they:

• withdraw from school
• change their name
• change their mailing address
• receive any additional financial aid from any other source(s)

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