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How does the school determine how much financial aid I can receive?
How can I find out how much financial aid I have been awarded?
What other steps must I complete in order to receive my student loan?
What if I reduce my credit hours after my loan has been processed?
What happens if I drop a class?
What happens to my financial aid if I have to drop all of my classes?
What academic requirements must be met in order to keep my eligibility for federal financial aid?
Is there anything I need to do if I graduate or decide not to return to Clark State?
How can I get help filling out my FASFA?

How does the school determine how much financial aid I can receive?
Schools use your EFC (Expected Family Contribution) to determine your financial need. Your EFC is a measure of your family’s financial resources and indicates how much you and your parents (if a dependent student) should be able to contribute toward paying for your education. The EFC is calculated from the information you report on your FAFSA. The EFC also lets the school know how much, if any, Pell Grant you may receive. The school then uses a cost of attendance budget (COA), comprised of tuition and fees, books and supplies, estimated room and board, miscellaneous and transportation expenses. Your financial need is then based on your cost of attendance minus your EFC. Your total awards cannot exceed your cost of attendance.

COA - EFC = NEED

How can I find out how much financial aid I have been awarded?
When your financial aid has been processed, you will receive an e-mail notification that your award is available for you to review. There will be a link to Clark State's WebAdvisor on the myClarkState portal. Log in using the User Id information provided to you in your acceptance letter or on your class schedule. After reviewing your award, if you have any questions or if you wish to decline all or part of your award, please contact the Financial Aid Office. Please note that awards are based on full-time enrollment and will be adjusted if you are less than full-time.

What other steps must I complete in order to receive my student loan?
Your student loan will not be disbursed until you sign a Promissory Note. This is your legal agreement that you will repay the loan. This agreement states that you must repay the loan, except in cases of loan discharge (cancellation) even if you don’t complete your education, don’t get a job after you complete the program or you didn’t like the education you received. You must receive Entrance Counseling. This session gives you useful tips to help you understand your rights and responsibilities and how to manage your educational expenses. You can also manage your loans and check your status and disbursements dates directly online at www.studentloans.gov.

What if I reduce my credit hours after my loan has been processed?
Your initial loan eligibility is calculated based on the information that you provided either on your FASFA or on other submitted paperwork. If, at the time your loan is disbursed, you are less credit hours, your loan may be reduced to meet your cost of attendance budget.

What happens if I drop a class?
If you add or drop classes, your financial aid will adjust based on your level of enrollment. If your credit hours are lowered, your aid may be lowered as well. This recalculation will continue throughout the refund period. See the online student calendar or your schedule book for the refund period dates.

What happens to my financial aid if I have to drop all of my classes?
Please refer to Clark State's financial aid refund policy.

What academic requirements must be met in order to keep my eligibility for federal financial aid?
Please refer to Clark State's academic progress standards.

Is there anything I need to do if I graduate or decide not to return to Clark State?
Not only is it required that you complete Entrance counseling prior to releasing your first loan disbursement, but it is also required that you go through Exit Counseling when you leave a school, either by graduation or simply withdrawing or transferring. This Exit session goes into great detail regarding your rights and responsibilities and also gives you information on who and when to call if you are having difficulty making a payment. All this is information you need to know to manage your repayment obligation. Complete online at www.studentloans.gov.

How can I get help filling out my FASFA?
Beginning in late January or early February, the Financial aid Office will publish workshop dates and locations. Typically you want to renew your FASFA each year by February or as soon as you complete your tax return.

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