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Academic Year:This is a measure of the academic work to be accomplished by a student. KVCTC defines our own academic year, but federal regulations set minimum standards for the purpose of determining financial aid awards. By federal requirement, the academic year must be at least 30 weeks of instructional time in which a full-time student is expected to complete at least 24 semester hours. 

Award Year:The award year begins in August and extends through July of the next year. Funding for the Federal Pell Grant and campus based programs (such as Federal Work Study, SEOG ) is provided to KVCTC on the basis of the award year.

Base Year:The base year is the calendar year preceding the award year. For instance 2007 is the base year used for the 2008-2009 award year. The "Free Application for Federal Student Aid" uses family income from the base year because it is more accurate and easier to verify. 

Campus-Based Aid Programs:The Federal Supplemental Educational Opportunity Grant and the Federal Work Study program. These two programs are called "campus-based" because the funds are administered directly by KVCTC's Division of Student Services, who awards these funds to students using federal guidelines. 

Central Processing System (CPS or The Processor):The CPS is the US Department of Education’s processing facility for application data and is currently located in Illinois. The CPS receives student information from the application processors, calculates the student's official EFC and returns the student's information to the application processor who then mails a Student Aid Report to the student. 

Cost of Attendance (Also Known As Cost of Education or Student Budget):The student's cost of attendance includes not only tuition and fees, but also living expenses while attending school. The cost of attendance is determined by the school using guidelines established by federal regulation. A student's cost of attendance is compared to the expected family contribution to evaluate the student's need for aid.

Deferment:Occurs when a borrower is allowed to postpone repaying a loan. If you have a subsidized loan, the federal government pays the interest charges during the deferment period. If you have an unsubsidized loan, you are responsible for the interest that accrues during the deferment period. You can postpone paying the interest charges by capitalizing the interest, which increases the size of the loan. Federal loan programs allow students to defer their loans while they are in school at least half-time. If you don't qualify for a deferment, you may be able to get a forbearance. You can't get a deferment if your loan is in default. 

The Department (of ED):Abbreviation for the U.S. Department of Education.

Default:Failure to repay a loan in accordance with the terms of the promissory note. 

Default Rate:A percentage calculated each year for each post secondary school based on the number of former students who have defaulted on a Federal student loan received while attending that school.

Disbursement:The release of funds to the school for delivery to the borrower. Disbursement credits the student account with aid funds. Aid is posted to charges on the student account and any remaining difference is issued to the student in a difference check. The difference check is generally available within 10 working days of disbursement and is mailed to the local student address which is on file in the Division of Student Services. Parent loan proceeds are first credited to the student account charges and any difference funds are mailed directly to the parent. 

DRN:The Date Release Number. This is your personal identifier printed in the upper right corner of your Student Aid Report. 

Electronic Award:Electronic awards will be offered after April 15. You will receive an e-mail notification to your campus assigned email address instructing you to access Your Award on MyKVCTC. The award is not valid until it is submitted.

Estimated Award Letter:An official document issued by the Division of Student Services that lists all the aid awarded to the student. The letter provides details on the analysis of your financial need and the breakdown of your financial aid package according to amount, source and type of aid. This type of paper notification ceased at the end of the 2004-2005 award year. The award letter has been replaced with an electronically available version. 

Expected Family Contribution (EFC):This is the amount the student's family is expected to contribute towards the cost of attendance for the purposes of the financial aid programs. The EFC is printed on the front of the Student Aid Report.

Financial Aid Counselor:A college employee who is involved in the administration of financial aid. 

Financial Need:This is the difference between the student's cost of attendance and the expected family contribution (EFC).

Forbearance:During a forbearance the lender allows a borrower to temporarily postpone repaying the principal of a loan, but the interest charges continue to accrue, even on subsidized loans. The borrower must continue paying the interest charges during the forbearance period. Forbearances are granted at the lender's discretion, usually in cases of extreme financial hardship or other unusual circumstances where a borrower does not qualify for a deferment. You can't receive a forbearance if your loan is in default.

Free Application for Federal Student Aid (FAFSA):This is the federal aid application used to collect household and financial information from students. This is an application for Pell, Campus-Based Aid, Student and Parent Loans and State Grants.

Professional Judgment:For need based federal aid programs, the financial aid administrator can adjust the EFC, COA or change dependency status when extenuating circumstances exist. This delegation of authority from the federal government to the financial aid administrator is called Professional Judgment (PJ). PJ decisions are final at the level of the Financial Aid Office. A PJ decision cannot be appealed to the U.S. Department of Education.

Promissory Note (Prom Note):This is a legal document which the borrower must sign to get a loan. By signing this note the borrower promises to repay the loan, with interest, in specified installments. The promissory note includes information about the grace period, deferment or cancellation provisions, and the student's rights and responsibilities with respect to the loan.

Student Aid Report (SAR):An output document mailed to the student by the Federal Aid Application Processor. The SAR contains financial and other information reported by the student on the FAFSA. That information is entered into the processing system and a SAR is produced. The student's eligibility for aid is determined by using the EFC printed on the front of the SAR.

Verification:A procedure whereby schools check the information the student reported on the financial aid application. Schools must verify information provided by students who are selected by the federal Central Processing System. If your application is selected, you will receive e-mails requesting that you access Your Missing Documents on line.

Phone: (304) 205.6700
Online: Apply Now!
2001 Union Carbide Drive
S. Charleston, WV 25303

Kanawha Valley Community and Technical College is an equal opportunity/affirmative action institution and does not discriminate against any person because of race, gender, age,color, religion, disability, national or ethnic origin. For more information: Michelle Bissell, Title IX Coordinator (304) 205-6600.