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4. Based on the information received, the Financial Aid Officer will give the student and/or parent(s), if a dependent student, a preliminaryestimate. 5. The student will receive an Estimated Award Offer Notification with his/her estimated financial aid listed. All students interested in receiving a federal direct loan are required to complete an entrance counseling and a Master Promissory Note online at www.studentloans.eov. If a student is dependent the parents may have to complete a separate Master Promissory Note, if approved for the Parent PLUS Loan. Any new students or returning new students are subject to a 30-day disbursement delay. 6. If any additional documentation is required, the Financial Aid Department will make attempts to collect this paperwork before processing any financial aid funding. The Financial Aid Department will make phone calls to the number(s) on file, send out missing information letter(s), send email(s) communications, and potentially pull the student from class in order to communicate these requirements and ensure this is completed (resulting in student to makeup hours). 7. The student then receives a Pell Grant Award Notification confirming the miewof his/her FAFSA has been completed. GENERAL ELIGIBILITY REQUIREMENTS Per the Department of Education, to be eligible for Federal Aid Programs students must demonstrate financial need (for most programs): Have financial need. Level of need is determined by the financial need formula: Students Cost of Attendance (COA) — Expected Family Contribution (EFC) = Financial Need; •3 Be a U.S. citizen or an eligible noncitizen; d• Have a valid Social Security number (except for students from Republic of the Marshall Island, Federated States of Micronesia, or the Republic of Palau); Be registered with Selective Service, if male (registration is required between the ages of 18 and 25) 4 Be enrolled or accepted for enrollment as a regular student in an eligible certificate or degree program; ❖ Be enrolled at least half-time to be eligible for Direct Loan Program funds; ❖ Maintain Satisfactory Academic Progress (SAP) as stated in the College Policy under both Institutional and Financial Aid SAP; ❖ Sign statements on the Free Application for Federal Student Aid (FAFSA) confirmation the student is not in default on a federal student loan and do not owe money on a federal student grant and will use federal student aid only for educational purposes; ❖ Have a high school diploma or a recognized equivalent such as General Educational Development (GED) certificate HOW AWARDS ARE DETERMINED A student's need is determined by subtracting the student's Expected Family Contribution (EFC) from the student's Cost of Attendance (COA). Except for the Federal Stafford Direct Unsubsidized and Federal Direct PLUS loans, most federal student aid is awarded based on a student's need. Cost of Attendance - Expected Family Contribution = FinancialNeed The EFC is the amount the federal government determines the student is expected to contribute towards his/her education. The information the student reports on the FAFSA is used to calculate the student's EFC. The student's COA is the actual tuition and fees for which a student is charged combined with standard room and board, personal expenses, and transportation expenses multiplied by the number of months in the funded year. Advanced College uses the annual budgets provided by the California Student Aid Commission in the calculation of each student's COA. Any loan fees assessed will also be calculated into the students COA, FINANCIAL AID AND COLLEGE BUDGETS Advanced College uses information provided by the California Student Aid Commission to determine the student cost of attendance (Student Expense Budget). The Student Expense Budget takes into consideration the following items: 1. Tuition and fees 2. Books and supplies 3. Room and board 4. Transportation 5. Personal and miscellaneous expenses 6. Loan fees — For student borrowers, actual or average loan origination fees apply. 2019-2o2o ESTIMATED COST OFATTENDANCE (COA) ATADVANCED COLLEGE The COA can be found in the Office of Financial Aid. 35