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Financial Aid FAQs

Can I afford to come to Alice Lloyd College?

Yes, if you live in the 108-county service area, you automatically qualify for Alice Lloyd College’s tuition guarantee; however, you will be required to meet general admissions criteria.

How can you guarantee my tuition?

Alice Lloyd College operates a mandatory Student Work Program where students work in various jobs around campus to offset the operating expenses of the College (keeping cost low) and allowing students to help “pay their own way.” Federal and state grant/scholarships, which student apply for through their FAFSAs are applied directly to student accounts. Numerous privately-funded and designated endowed scholarships are also applied directly toward the cost of education (tuition); and the Appalachian Leadership grant, which is derived from a nationwide donor base, guarantees that the remaining cost of tuition is covered.

Am I required to complete my FAFSA in order to receive grants/scholarships?

Yes, every student is required to complete their FAFSA in order to receive financial aid at Alice Lloyd.

What grants/scholarships do I qualify for to help cover my expenses at Alice Lloyd College?

Each individual student will qualify for grants/scholarships based upon their Expected Family Contribution (EFC). The EFC is reported to the school by the U.S. Federal Government through the students FAFSA.

Does Alice Lloyd College offer scholarships?

Yes, most students benefit from scholarship made possible by alumni and friends who support Alice Lloyd College. Students who receive scholarships will be asked to write thank-you letters to their benefactors.

How much money will I need per semester?

The cost of education (tuition) is guaranteed for all students within the 108-county service area; however, depending on your financial aid package and work study hours, you may owe money for room/board or commuter fees and matriculation fees (health, service, technology fee).

What is a Financial Aid Package?

A financial aid package is a combination of different forms needed to accept the financial aid that the Financial Aid Office has determined the student eligible for (i.e. Award Letter, Work Study Agreement, Loan Request, Verification Documents, etc…).

How much money will I need for books?

Depending on your course of study, books will range on average from $500 to $700 per semester. A full listing of textbooks can be found online at http://alc.ecampus.com/.

I received an outside scholarship, should I report that to the Financial Aid Office?

Yes. If you are receiving any kind of financial aid from a church, business, etc… you must report the scholarship (i.e.: WYMT scholarship) to the Financial Aid Office.

Are grades and academic standing important?

YES! If you fail to meet Satisfactory Academic Progress (SAP), you will be ineligible to receive financial aid. Most programs have a limit on the number of semesters or amount of funds that can be received by the student. Students who have to enroll extra semester above what is required to complete a program, may not be eligible for aid that semester.

When should I file my FAFSA?

Alice Lloyd requires student to file their FAFSA’s before November 1st. This date is designed to help the student know when to apply for financial aid and to help the Financial Aid Office determine the grants/scholarships the student is eligible for. Applying before this date will increase the student’s chance of meeting deadlines for state grants if funds have not been exhausted.

What is verification?

Either the Department of Education or Alice Lloyd College may select you for a process called “verification.” This means you must prove what you reported on your FAFSA to be correct.

Every year the Department of Education decides which items must be verified from your FAFSA during the Verification Process.  You may also get selected for the standard verification for which the school must verify things like gross income, untaxed income, education credits, household members, number in college, receipt of food stamps, paid child support, and/or other items as determined by the Department of Education.

Transfer Student

To transfer to Alice Lloyd College from another college, students must present to the Admissions Office:

  1. An application for admission.
  2. An official transcript of college credit from all colleges in which the student has enrolled, complete with final grades from the most recent term attended.
  3. Appropriate financial aid forms as indicated in the General Procedures section.
  4. ACT or SAT scores.
  5. High school transcript reflecting the graduation date.
  6. Transfer Clearance Form.
  7. Schedule an interview with the Director of Admissions or Admissions Counselor (all student-athletes will be interviewed by their prospective coaches).
  8. Students must be in good standing when withdrawing from their former school and must have at least a 2.00 (C) academic average; the College will not transfer “D” grades. A student may transfer up to 64 hours from a regionally accredited two-year college and up to 90 hours from an accredited four-year college towards a bachelor degree program at Alice Lloyd College.
  9. Under exceptional circumstances, a student may petition the Vice President for Academics/Dean of the College for additional transfer credit. The College does not award credit for experiential education.

How am I notified of what Financial Aid I am eligible for?

Financial Aid packages are made available in May if ALC has received a valid FAFSA. Freshman and Transfer students must be officially accepted by our Admissions Department before a Financial Aid package is made. Federal, State, and Intuitional aid cannot exceed the student cost of attendance. If necessary, funds awarded by Alice Lloyd College will be reduced or eliminated to stay within these guidelines.

If you accept the award:

Sign and date the award letter indicating your acceptance of the award. You will need to return one copy of the award letter to the Financial Aid Office before August 1st of the current award year being awarded.

If you accept only part of the award:

Write decline next to the appropriate award you are wishing to decline and sign, date, and return the award letter to the Financial Aid office before August 1st of the current award year being awarded.

Who do I contact if I have questions?

Direct any questions you may have to the Financial Aid Office. Our office is located on the first floor of the June Buchanan Alumni Center (JBAC). We are open Monday through Friday, from 8:00 a.m. until 4:30 p.m. unless otherwise posted. Our phone number is 1-606-368-6058.  Questions can also be sent to financialaid@alc.edu. If you failed to receive a copy of your Student Aid Report or you need additional copies of your SAR, call 1-800-433-3243 or go to https://fafsa.ed.gov/ and print a new copy. If you have problems with student loans that cannot be resolved through the financial aid office, you can contact the Federal Student Aid Ombudsman: U.S. Department of Education FSA Ombudsman 830 First Street, NE Fourth Floor Washington, DC 20202-5144

How, when, and where do I receive my Financial Aid?

Most funds are credited directly to your student account and are used to pay tuition, fees, room & board, and other applicable charges first. Scholarships and grants are credited each semester after the last day to register for classes period has ended.  Loan funds are usually credited no earlier than a month after the last day to register for classes.  Work-study funds are credited as the student earns the funds and are reported four times a semester to our Business Office by the Work Study Office.

Your enrollment status (full-time, part-time, less-than-part-time) is determined at 4:30 p.m. on the last day to register for a class each semester. Your aid package will not change if you adjust your schedule after this date, unless you drop all of your courses.  Please be aware that dropping courses after they begin can affect your ability to make Satisfactory Academic Progress (SAP).

You will receive half of your academic year award in the fall and the other half in spring.  Any credit created by the payment of financial aid is available through the Business Office.

What are my rights?

  • To know what financial aid programs are available at the institution.
  • To know the deadlines for submitting the applications for each of the programs.
  • To know how financial aid will be distributed, how decisions on distributions are made, and the basis for these decisions.
  • To know how your financial need was determined. This includes how costs for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc. are considered in your budget. To know how much of your financial need has been met by the financial aid administrator at the institution. To know what resources were considered in the calculation of your need.
  • To request an explanation of the various programs in your student aid package.
  • To know the institution’s refund policy and satisfactory academic progress standards.
  • To know what portion of the financial aid you receive must be repaid, and what portion is gift aid.  If the aid is a loan, you have the right to know what the interest rate is, the total amount that must be repaid, the payment procedures, the length of time you have to repay the loan, and when repayment begins.
  • Under the Stafford Loan programs, to request that the loan payments be reduced for a specific period of time if it will assist in avoiding default.

What are my responsibilities?

  • To complete all application forms accurately and submit them on time to the right place.
  • To provide correct information.  In most instances, knowingly misreporting information on a financial aid application is a violation of the law and may be considered a federal offense.
  • To be registered with the Selective Service, if required.
  • To NOT be in default on a loan or owe a repayment on a grant.
  • To return all documentation, verification, corrections, and/or new information requested by either the Financial Aid Office or the agency to which you submitted applications.
  • To read and understand all forms that you are asked to sign and keep copies of them. To accept responsibility for all agreements you sign.
  • To perform the work agreed upon in accepting a college work study award.
  • To be aware of and comply with the deadlines for application or reapplication for aid.
  • To be aware of the institution’s refund policy and satisfactory academic progress standards.
  • All institutions must provide information to prospective students about their programs and performance. Students are expected to consider this information carefully before deciding to attend.
  • A recipient of a Federal Direct Stafford Loan or Federal Perkins Loan must notify the lender if any of the following occurs before a loan is completely repaid:
    • change of address
    • graduation
    • withdrawal from the institution or less than half-time attendance
    • name change (i.e. maiden name to married name)
    • transfers to other institutions