Financial Aid

• You have reached the age of 24 prior to January 1st of the upcoming award year. Born before January 1, 2000 for 2023-2024.
• You are enrolled in a graduate or professional educational program beyond a Bachelor’s Degree. 
• You are married as of the date you submitted the FAFSA. 
• You have children who receive more than half of their support from you. NOTE: Having a child does not automatically make you independent. You must be providing over 50% of the child’s support. 
• You have dependents (other than your children or spouse) that live with you and receive more than half of their support from you, now and through the end of the award year. 
• Both parents are deceased or you are an orphan or Ward of the Court (or were a Ward of the Court until age 18). 
• You are currently serving on active duty in the U.S. Armed Forces (other than training). 
• You are a Veteran of the U.S. Armed Forces. 
• You are an emancipated minor. 
• You are an unaccompanied youth who is homeless or in danger of being homeless. 

If you do not meet any of the above criteria, then you are automatically considered a Dependent student and your parents must complete the parental information section of the FAFSA and provide their financial information. 

Needs Analysis - Needs Analysis is based on a simple formula of the student’s cost of attendance minus the expected family contribution as determined by the FAFSA. The end product is what the student is eligible for in financial assistance. Below is a detailed breakdown: 

1. Cost of Attendance - The cost of attendance (COA) is not the bill that you may get from Lorain County JVS Adult Career Center; it is the total estimated amount it will cost you to attend during a typical period of enrollment, including both direct and indirect costs (indirect costs include, but are not limited to, housing, meals, and transportation). The COA includes tuition and fees; a housing and food allowance; allowances for books, supplies, transportation, and loan fees; and other educational costs. 
2. Expected Family Contribution - The Expected Family Contribution (EFC) is a measure of your family’s financial strength and is calculated according to a formula established by law. Your families taxed and untaxed income, assets, and benefits are all considered in the formula. Also considered are your family size and the number of family members who will attend college during the year. The information you report on your Free Application for Federal Student Aid is used to calculate your EFC. *Note: Your EFC is not the amount of money your family will have to pay for college nor is it the amount of federal student aid you will receive. It is a number used by your school to calculate the amount of federal student aid you are eligible to receive.

For all Title IV Programs (Pell Grants/Direct Loans), an enrolled student must: 

• Have financial need, except for some loan programs. 
• Be enrolled in a program that is at least 600 clock hours and 15 weeks in length.
• Meet Satisfactory Academic Progress standards set by the school. 
• Be a U.S. citizen or eligible non-citizen. 
• Not be incarcerated in a federal or state penal institution. 
• Have a high school diploma or G.E.D. 
• Have a valid Social Security Number. 
• Sign a statement on the Free Application for Federal Student Aid (FAFSA) certifying that you will use federal student aid only for educational purposes. 
• Sign a statement on the FAFSA certifying that you are not in default on a federal student loan and that you do not owe money back on a federal student grant. 
• Not have been convicted under federal or state law of the sale of or possession of drugs. (You may still be eligible depending on the number of offenses and when they happened.) 
• Provide information in order for the school to obtain financial aid history. 
• Not have a property that is subject to a judgment lien for a debt owed to the United States Government.

Students who apply for and receive federal financial aid at LCJVS Adult Career Center must understand the following:

• Financial aid may be terminated if it is discovered that there was fraud or misrepresentation by the student on any financial aid application.
• Information submitted on any financial aid application must be accurate and complete.
• The student must notify the Financial Aid Office if changes are made to any information on a financial aid application.
• The student cannot use federal student aid at two schools at the same time.
• Financial aid is not renewable and must be applied for each year.
• The student may not receive federal aid if they currently owe a repayment on a federal Pell Grant or are in default on a federal student loan.
• The student must have the entire tuition cost accounted for prior to registration.
• The student must abide by all regulations of the U.S. Department of Education. Students must provide all information and documentation requested by the Financial Aid Office.
• Financial aid awards may be changed if estimated dollars are not received from the U.S Department of Education, if errors in awards were made, or if funding levels are modified.

IRS Data Retrieval Tool
The IRS Data Retrieval Tool (IRS DRT) Electronically Transfers Your Federal Tax Return Information Into Your FAFSA Form.

WHY 

• EASY: Transfer info with the click of a button.
• FAST: Instantly retrieve your information.
• ACCURATE: Correctly fill in your information.

HOW 

• Log in to your current FAFSA form or start a new application at fafsa.gov. 
• In the finances section of the online form, you will see a “Link to IRS” button if you are eligible to use the IRS DRT. 
• Click the “Link to IRS” button and log in with your FSA ID to be transferred to the IRS to retrieve your info. 
• Once at the IRS site, enter your information exactly as it appears on your federal income tax return and click the “Submit” button. 
• Check the “Transfer My Tax Information into the FAFSA form” box, and click the “Transfer Now” button. 
• You will know that your federal tax return information has been successfully transferred because the words “Transferred from the IRS” will display in place of the IRS information in your FAFSA form. 
• For your protection, your tax information will not be displayed on either the IRS site or fafsa.gov
• The IRS DRT can be used by both students and parents.