GRANTS

Financial Aid Calculator

If you need help or wish to obtain TSBC's Federal ID # for the FAFSA, please call the college at (740) 377-2520 or e-mail Financial Aid. While TSBC provides or has access to GI Benefits, in-house loans and rehabilitation funds, the following FA information is about Federal funding only.  For information on other types of financial aid, see your FA officer in the registrars office.

Pell Grants, Government Loans:



1. Obtain a copy of last years federal tax return.  So, for example, if you are registering for classes in the Fall of 2012 you would need the tax returns for 2011.
2. Log onto www.fafsa.ed.gov and apply for a PIN number which you will receive via email in about 3-5 days.  This PIN number is EXTREMELY IMPORTANT!  Be sure to keep it both memorized and securely written down.  If you already have a PIN, continue on to the next step.
3. Upon receiving your PIN number you need to do two things. First, log back onto the FAFSA website and complete the free federal application for student assistance (also known as the FAFSA or Pell Grant form) according to the directions given.  This is where you will need your federal tax return. BE SURE TO PUT IN THE TSBC SCHOOL CODE (034754) where appropriate.
Second, if (and only if) you also want a college loan, log onto www.dlenote.ed.gov and use your PIN number to sign the Promissory Note (prom Note) which will allow you to receive a loan(s).
4. Within a week or two you should be receiving a Student Award Report from Pell (SAR) from the department of education.  If there are issues with your application that need to be resolved, they will be listed.  The most important thing about this report, however, is called the EFC#.  This number is used throughout the calculations process for all grants and loans. It represents the dollar amount the government expects you to pay each year for your education; therefore, the lower this number the more money you will receive for your Pell Grant. 
5. At about the same time you receive a SAR, your FA officer receives an ISIR, which is an institutional copy of the same information.  The FA officer will only use the ISIR (not the SAR) for processing FA.  This is why you must enter the TSBC Code in your FAFSA application.
6. More often than not, students are selected for "Verification."  This means you must provide your FA officer with a copy of your tax returns and fill out a verification form.  Your FA officer will let you know if this is needed.  If it is, DO NOT DELAY in providing it, because,  NOTHING can be processed until then.
7. Register for class.  How much money you receive is determined not only by the EFC# but also based on how many hours you are taking.  Nothing can be processed until we know what classes you are taking.  DON'T wait till the last week of August or December to register.  Register as soon as the schedule becomes available.  No registrations will be accepted after the Add/Drop Period which is two weeks after classes begin.
8. Once all of the above information is gathered, the FA officer pretty much takes over.  He/She submits a "Start Form" which lists the information necessary to process all of your financial aid.  He/She will also want to know what kind of loan (if any) you want.  There are three loans you can apply for.
      A. Sub-Loan:  is a subsidized loan based on need and charges no interest on money borrowed until after you withdraw from college or graduate.
      B. UnSub-Loan:  is an unsubsidized loan can replace or be added to the sub-loan.  You will be charged interest on this loan the moment you receive it. All students may apply for one or both of the above loans.
      C. Parent Plus Loan:  is ONLY available to dependant students and is a loan your parents can take out for you should you need it or fail to receive Sub/Unsub Loans.
           How much money you can apply for on each of these loans (or a combination thereof) is limited by a number of factors.  Your FA Officer will tell you your maximum eligibility amount after it is calculated.
9.  Once your Pell/Loan application (Start Form) has been processed, TSBC will receive an Award Letter.  This letter will tell us how much money you are going to receive from Pell and/or each of the loans for which you applied.
10. Once your award letter is signed, the FA officer notifies the government that you are accepting the money for our college and they send us an electronic transfer of the funds. 
11. Upon receiving this money, we generate a receipt form which you must sign within FIVE BUSINESS DAYS stating that you have received the money for your educational costs.  It is also at this time that we will write a check to you for any money we receive over an above the amount you owe the college.  This is called a "Student Disbursement."  It is money to be spent on related expenses like transportation, room and board and personal expenses.

THAT'S IT!  This represents a summary of the Pell Grant/Student Loan process through TSBC.  This process assumes the best case scenario but you should know that there are variations due to late registrations, add/drops, and a number of other situations not covered by this summary.  If you have any questions, please see the FA officer in the registrars office or call 800-333-3243 (1-800-4-FED-AID) to speak to a customer Service Representative.