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announcements ANNOUNCEMENTS

FINANCIAL AID Announcements

Office hours & Closures

Fall 2014

August 25 – December 19, 2014

 

Admissions & Records, Financial Aid

M

8:30 – 4:00

T

8:30 – 4:00

W

8:30 – 1:00 / 3:00 – 6:00

Th

8:30 – 4:00

F

8:30 – 12:00


·         October 16, 2014  =  Campus Flex Day (hours TBD)

·         November 10, 2014  =  Veterans Day HOLIDAY (Campus CLOSED)

·         November 26 – 28, 2014  =  Thanksgiving HOLIDAY (Campus CLOSED)

·         December 24, 2014 – January 1, 2015  =  Winter HOLIDAY (Campus CLOSED)

Please note that the above schedule does not reflect other potential closures due to staff training or unexpected closures due to staff illness, etc. 




Do you still owe enrollment fees for Fall 2014?

Complete your 2014-15 FAFSA now if you have not already done so - www.fafsa.ed.gov (for F14, Spr15, Sum15).

Complete your
2014-15 BOG Fee Waiver application online before last day of Fall semester. (NOTE: If you have recently completed a 2014-15 FAFSA application, please DO NOT complete a BOG waiver online. Follow up with the Financial Aid Office or check the Zone for your current application status.)

NEW in 2014!! - Higher One Refund Preference

HO has announced an enhancement to their existing refund preference selection process. Beginning Wednesday, July 30th, all students who select the "Deposit to another account" (ACH) refund preference will now have the option to submit their account information through a fully electronic process. We strongly encourage you to consider using the ACH transfer to your existing bank account, as you already have an existing relationship with your bank.

Historically, selecting ACH required a student to print a paper form that could then be submitted via email, fax or mail to Higher One.  The paper form will no longer be required.  Replacing this paper process is a significant enhancement that adds electronic functionality while providing students with greater expediency and flexibility.


Do you have a question about how much financial aid you received? Get your questions answered here!


Chabot Financial Aid General Information Brochure


Information about the California Dream Act


Major Federal and State Regulatory Changes

As a result of recent legislative changes, you should be aware of a number of new requirements for the federal student aid programs. Some of the changes include:

  • Students selected for verification must either use the IRS Data Retrieval option from the FAFSA application, or submit IRS Tax Transcripts for self/spouse and/or parents. (See processing detail below.)  We no longer accept copies of 1040(a)(ez) forms.
  • Students are now limited to a maximum of six years (600%) of full time Pell Grant* (see details in box below)
  • Students must have a High School diploma or GED. Passing ATB scores or 6 earned college semester units are NO LONGER allowed to meet this requirement for students beginning an eligible program of study after 7/1/13.
  • Students will not have the interest on their subsidized loans paid during the 6 month grace period before repayment begins (for loans originated between 7/1/12 and 7/1/14.
  • NEW!  New borrowers as of 7/1/2013 are limited to 150% of their program length in eligibility for subsidized loans.  Examples: 
    • Students in an Associate or Transfer that typically require two years to complete if attending FT will only be considered for three years of subsidized loan eligibility. 
    • Certificate programs that normally take two semesters or one year to complete if attending FT will only be considered for a year and a half (three semesters) of subsidized loans.
    • Students who transfer to Chabot from another school may have already received the maximum subsidized loans according to their program of study at Chabot.  They may be eligible to borrow unsubsidized but not subsidized loans. 
    • New - Due to unforeseen complications implementing the new federal student loan regulations, Direct Stafford loan awarding and disbursements may be delayed as late as mid-September for both new and returning borrowers. New borrowers are subject to 30 day disbursement hold regardless. We sincerely regret any inconvenience to our students.

      To be eligible for any federal or state financial aid, including but not limited to student loans), you must be enrolled in an eligible program of study (certificate, associate or transfer) as found at xxx. If you realize you need to update your major, submit this form ABC immediately to A&R.

  • NEW! - Students and their families who do not report and verify a reasonable amount of income to support themselves and their dependents will be required to document to our office how they did support themselves, per new Federal regulations.  Accuracy and completing every FAFSA question will assist students to avoid this verification process. 

URGENT TO READ:  Pell Grant Limits (LEU)

New! Pell Lifetime Eligibility Used (LEU) Students are now limited to a lifetime maximum Pell Grant of 12 semesters / six years or full time equivalent (600%) at any community college, vocational school or four year/bachelor program.  Once you reach the 600% Pell LEU, you will be ineligible for any additional Pell Grants beginning in 2012-13 school year.   Log on National Student Loan Data System (NSLDS) using your FAFSA PIN and view your LEU, found on the Financial Aid Review page.

What this means for you:  You must plan now for your future, especially if you plan to transfer to a four year college to pursue a Bachelors degree. The six year limit is a LIFETIME limit. This regulation is in effect even if you have had an appeal approved for failure to meet academic progress, it supersedes any prior offer of aid/award, and the Department of Education allows for no appeal or exception. 

For examples of how Lifetime Eligibility Used (LEU) is calculated and for further detail please visit the following site:   http://studentaid.ed.gov/PORTALSWebApp/students/english/PellLimit.jsp

 
2nd Disbursement: Enrollment will be frozen at the time of the 2nd major disbursement each semester.  Per federal regulation, no additional disbursement will occur for units registered for after this date.   Note: 2nd disbursement amounts will be adjusted for changes in enrollment 

Late Start Classes:  Disbursement for late start classes will occur the next scheduled disbursement following the start of class. A student must be registered for those units prior to the scheduled 2nd disbursement.

Apply for Financial Aid Today!

2014-15  School Year (Summer 2014 enrollment fees only) (Fall 2014, Spring 2015, Summer 2015)

Online FAFSA available January 1, 2014 - June 30, 2015. Complete your FAFSA by the March 2, 2014 priority deadline using 2013 Federal Income Tax information. 

Financial Aid Processing

  • Verification forms
  • Be prepared for 6-10 weeks for processing during our peak time (Summer and early Fall)
  • Deadline to submit verification for first disbursement each Fall is 07/01 each summer. 
  • Documents submitted after 7/01 will be processed by date received and eligible students may not receive a disbursement until later in the semester.
    • If you submit your documents after 07/01, you will need to make alternate arrangements to purchase books and complete the semester successfully.

To speed up verification process, please make any needed corrections to your FAFSA on www. fafsa.ed.gov to student/spouse/parent income by pulling tax information from IRS database. Check your student aid report for accuracy.

The best way to verify income is by using the IRS Data Retrieval Tool that is part of FAFSA on the Web. If the student and/or spouse/parent(s) have not already used the tool, go to FAFSA.gov, log in to the student's FAFSA record, select "Make FAFSA Corrections," and navigate to the Financial Information section of the form. From there, follow the instructions to determine if the student and/or spouse/parent(s) are eligible to use the IRS Data Retrieval Tool to transfer 2011 IRS income tax information into the student's FAFSA. It takes up to two weeks for IRS income information to be available for the IRS Data Retrieval Tool for electronic IRS tax return filers, and up to eight weeks for paper IRS tax return filers.

If the student/spouse/parent is unable or chooses not to use the IRS Data Retrieval Tool, an IRS tax return transcript (not a photocopy of the income tax return) must be submitted each year.

To obtain an IRS tax return transcript, go to www.IRS.gov and click on the "Order a Return or Account Transcript" link, or call 1-800-908-9946. Make sure to request the "IRS tax return transcript" (not the "IRS tax account transcript"). Student/spouse or student/parent(s) will each need a Social Security Number, date of birth, and the address on file with the IRS (normally this will be the address used when the IRS tax return was filed). It takes up to two weeks for IRS income information to be available for electronic IRS tax return filers, and up to eight weeks for paper IRS tax return filers. If the student and/or parents are married, and separate federal tax returns were filed, IRS tax return transcripts for appropriate year must be submitted for each filer.

  • Check your Zone Account - Check your Zone for unsatisfied requirements and financial aid file updates! Check your ZoneMail for any email announcements from the Financial Aid Office. 

    Click here to view Financial Aid Deadlines

Calendar / Upcoming Office Closures

Disclaimer: Some Chabot College Financial Aid Web Pages may provide links to other Internet sites for the convenience of users.  Chabot College Financial Aid is not responsible for the availability or content of these external sites, nor does Chabot College Financial Aid endorse, warrant, or guarantee the products, services, or information described or offered at these other Internet sites. Users cannot assume that the external sites will abide by the same privacy policy to which Chabot College Financial Aid adheres. It is the responsibility of the user to examine the copyright and licensing restrictions of linked pages and to secure all necessary permissions.

 

 

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    Phone: (510) 723-6600 | Last updated on 9/23/2014