Policy Change regarding Financial Aid Paying for Repeat Courses
Starting July 1, 2011 students can only count credits of a repeated course once towards their financial aid eligibility if they had already received prior credit for the course. For example; if a student takes a Math 101 classes and receives a D grade and wants to take the class again, financial aid will only pay for the repeat one more time. If the student receives a D grade again, they can repeat the course, but cannot count it towards credits used in determining financial aid eligibility.
The Financial Awareness Counseling Tool aims to provide students with basic financial management information, such as their current loan debt and estimates of debt levels when interest accrues after graduation.
The tool provides students with five interactive tutorials on topics including managing a budget and avoiding default. Students can also access their individual loan history and receive personalized feedback.
Check this site out for information to help you understand your financial aid and assist you in managing your finances.
If a student has received financial aid and has decided to withdraw from the quarter, they must officially withdraw from their classes either online at the WVC website or in person at the Registration office. This will prevent them from receiving failing grades at the end of the quarter.
On July 1, 2009 a major new student loan repayment option will become available for the first time. Income-Based Repayment (IBR) caps monthly federal loan payments at an affordable level based on your income and family size, and forgives any debt and interest that remains after 25 years. If you owe more on your federal student loans than you earn in a year, you can probably benefit from IBR. The lower your income, the lower your monthly payment will be: in some cases, as low as $0. IBR is available for almost all federal loans - past, present, or future - made by any lender, whether for college or graduate school.
If you work in a government, nonprofit, or other public service job, you could have your remaining student loan debt forgiven after just 10 years of Income-Based Repayment, or certain other payments. Your loans have to be in the federal Direct Loan Program to qualify, but the 10 years don't have to be consecutive. You just need to make a total of 120 payments while working full-time for a public or nonprofit employer, starting on or after October 1, 2007.
For more information, including a simple calculator to estimate monthly payments, please visit www.IBRinfo.org.
Financial Aid Fraud
We have received information that someone is calling students and saying that they can give them money to pay for any college related expense. All the student needs to do is give them their bank account number. They represent themselves as a legitimate organization. This is a SCAM. Please be aware that there are individuals that want to take advantage of you. NEVER give anyone you bank account number to anyone unless you personally know them and know that they are legitimate. Check the organization out with the Better Business Bureau or Department of Education. BE WISE.
Be reassured that the financial aid office does not request student’s bank account numbers over the telephone.
If you have any questions or want to report that you have been contacted by someone requesting you accounting number and are guaranteeing financial assistance to attend college, contact the Department of Education fraud hotline at 1-800-647-8733.
1300 Fifth Street, Wenatchee, WA 98801 Phone: (509) 682-6800