Financial Aid A Guide for Students and Parents
A
Our goal in the Financial Aid Office is to present you with the best possible options for financing your college education. With this in mind, students are encouraged to apply for admission to Piedmont College as early as possible. High school students can apply after August 1 of their senior year. All other students may apply at any time—the earlier, the better. This ensures that scholarship funds are available and adequate time remains to evaluate all of your options.
A
Financial Aid Options Financial aid can come from a variety of sources. We can help you maximize your aid from grants and scholarships and help you avoid unnecessary debt.
Sources of financial aid can include: • Scholarships provided directly by Piedmont College based on academic performance • Grants provided directly by Piedmont College based on need • State of Georgia scholarships and grants • Federal need-based grants • Federal loans • Private scholarships and grants from external organizations such as businesses, religious organizations, and foundations.
First: Facts about the FAFSA When talking about financial aid for college, you will hear a lot about FAFSA (Free Application for Federal Student Aid). FAFSA is important because many state and federal aid programs rely on information you supply when filling out the form. Completing the FAFSA allows for the evaluation of Federal Aid (Pell Grant, Student Loans, Parent Loans); State Aid (HOPE and Zell Miller scholarships, Georgia Tuition Equalization Grants); and some Piedmont direct aid. Students and their families complete the FAFSA each year, and it is available online after January 1st at fafsa.ed.gov. Completing the FAFSA requires information from the previous year’s taxes. The information you supply on the FAFSA is sent to the college you select and federal and state agencies.
1
Tuition Costs The price of tuition, room, and board at Piedmont’s Demorest and Athens campuses is set by the Board of Trustees and published in the spring preceding the academic year. The current information can be found on the Piedmont website at piedmont.edu/business-aid. There is also a link on that page to a Net-Price Calculator that can help determine your projected cost with financial aid factored in. Note that Piedmont has eliminated commonly used fees, such as lab, technology, and activity fees to make our total cost a bottom-line amount. The only additional cost to students is for books and private music lessons, if applicable.
How is my financial aid determined? The Financial Aid office goes to work for you as soon as you submit an application to attend Piedmont College. (Application information can be found at piedmont.edu/apply.) After the Admissions Office receives your complete application, a decision is made within two weeks, and you will be notified by mail and/or phone. Upon acceptance, you will receive an award certificate detailing the Piedmont academic scholarships you may be eligible to receive. That is just the beginning—Piedmont need-based aid, as well as federal and state aid, will be determined after you complete a FAFSA. (Students who elect not to submit a FAFSA may submit a Piedmont College Institutional Financial Aid form.)
2
Types of Aid Piedmont College Academic Scholarships Piedmont awards more than $10 million each year in direct financial aid to students based on academic achievement. You are automatically evaluated for these scholarships when you apply for admission. There is no separate application for scholarships. These scholarships are guaranteed for the duration of your enrollment at Piedmont College as long as you meet minimum GPA requirements and are enrolled full time. Many Piedmont scholarships require students to live on campus. As a member of the National Collegiate Athletic Association (NCAA) Division III, Piedmont does not award athletic scholarships.
Piedmont College Need-Based Grants Piedmont offers some grants based on financial need. Students are automatically evaluated for these grants when a completed FAFSA has been received by the college.
State of Georgia Aid Students who are residents of Georgia may be eligible for the HOPE Scholarship or Zell Miller Scholarship programs. These programs can provide you with up to $2,174* each semester, depending on your previous academic achievement. For information about these programs, visit GaCollege411.org.
Federal Need-Based Aids This federal program provides financial aid to students who qualify. To apply, please complete the FAFSA. More information is available at studentaid.ed.gov.
Federal Direct Loans (Student and Parent) The federal government offers several low-interest loan programs for education. A FAFSA is necessary in order to qualify for direct loans. More information is available at studentaid.ed.gov. *The amount is set each year by the Georgia Student Finance Corporation
3
u o u y o y d DDikidnowo? w? kn99%
of full-time freshman receive some form of financial aid.
68%
of students work on the Demorest campus.
Student Loan Options Students who have completed a FAFSA, Entrance Counseling, and a Master Promissory Note are eligible to participate in the Federal Direct Loan Program. Direct Student Loans are divided into two types of loans: Subsidized and Unsubsidized. • Subsidized student loans are a form of need-based aid offered through the Federal Direct Loan Program. The interest on a subsidized loan is paid by the government until six months after a student graduates, drops below six hours of enrollment, or breaks enrollment for six months, at which time interest begins to accrue and repayment begins. • Unsubsidized student loans accrue interest while a student is enrolled but do not require payments until six months after graduating, dropping below six hours of enrollment, or breaking enrollment for six months.
4
Parent Loan Options If a parent loan is necessary, the parent may apply through the U.S. Department of Education for a Parent PLUS loan. Parent loans are contingent on an approved credit check performed by the U.S. Department of Education. Parent loans will be included in a student’s award if a student’s loan eligibility is at its maximum for the semester. These loans accrue interest and may require payments while the student is enrolled.
Book Expenses Students and parents have the option to increase loans for books and living expenses. If a student’s aid exceeds the cost of tuition, room and board, they may use a book voucher that provides a credit in the Piedmont College Bookstore. Any credit remaining on a student’s account after the book voucher is redeemed will be mailed to the borrower midway through the semester.
Work Study Program Piedmont believes on-campus job opportunities offer students the chance to reduce the financial burden on their families while obtaining valuable work experience. Because of this, Piedmont contributes a large sum of its own funds towards the Work Study Program. At most institutions, Federal Work Study funds are limited and provided for students who demonstrate the greatest financial need on their FAFSA. At Piedmont, both federal and institutional funds are used for the work study program.
5
A
u o u y o y d DDikidnowo? w? kn
Student and/or parent loans can be increased for book or living expenses. A student does not have to begin repaying Federal Direct Student Loans until six months after finishing classes.
Additional Scholarship Opportunities Students are encouraged to seek outside scholarships. Your financial aid from Piedmont will not be reduced because of outside scholarships unless they would cause your aid to exceed your cost of tuition, room and board expenses. Here are a few sources for outside scholarship information: • High school counselors often have information regarding local scholarships. • Faculty sponsors of honors or extracurricular associations you belong to may have information regarding scholarships available for members • Non-profit and religious organizations often offer scholarships for their members. • If you think your family qualifies for Veterans Assistance benefits through the military, contact a VA representative and learn how to obtain a certification of eligibility. • T here are many online tools (such as scholarship locators) available. (We urge students to be cautious when providing confidential information over the Internet.) 7
Financial Aid Road Map
1 2
8
pply to Piedmont through A the Admissions Office.
pon acceptance, an award certificate U will be sent to you listing the Piedmont academic-based scholarship that you have been awarded.
3
Complete a FAFSA.
4
nce a FAFSA is received, you will O receive a detailed Financial Aid Award Letter listing your financial aid.
5
S ign and return your award letter and complete any necessary steps listed on the cover letter.
Important Links and Contact Information FAFSA: www.fafsa.ed.gov 1-800-4-FED-AID Entrance Counseling, Master Promissory Notes and Parent PLUS Loan applications: www.studentloans.gov 1-800-848-0979 State Aid: www.gacollege411.org Federal Aid: www.studentaid.ed.gov Piedmont Website: www.piedmont.edu/future-students Net Price Calculator: www.piedmont.edu/net-price-calculator Financial Aid: www.piedmont.edu/finances-aid
PIEDMONT COLLEGE OFFICE OF FINANCIAL AID PHONE: (706) 776-0114 TOLL FREE: 800-277-7020 FAX: (706) 778-0708 EMAIL: finaid@piedmont.edu MAILING ADDRESS: PO BOX 10 DEMOREST, GA 30535
9
A