Hannibal Career & Technical Center
Financial Aid 
Introduction to Financial Aid
The objective of the Financial aid program at the Hannibal Career and Technical Center is to help students receive funding from various sources to help pay for their career and technical education. It is very important that all students understand the policies, procedures, and allocations of the Hannibal Career and Technical Center. The administration of financial aid is extremely complex because of the many federal, state, and local agencies that provide and regulate these resources. As a consumer of educational services program, you should fully understand the financial assistance to which you are entitled as a student of the Hannibal Career and Technical Center.
The forms you are asked to complete are absolutely necessary. All forms should be competed accurately and honestly. Information you give is held in strict confidence.
If you have any questions or need any information not found in this publication, please call or visit the Financial Aid Office located in the Career Resource Center of the Hannibal Career and Technical Center. The office is open from 7:00 a.m. to 3:30 p.m., Monday through Thursday and 7:00 a.m. to 3:00 p.m. on Fridays.
Financial Aid Summary
The Hannibal Career and Technical Center offers basic categories of financial aid: grants,
loans, and scholarships
• Grants are awards based on financial need and do not require repayment.
• Loans are low-interest awards that must be repaid after the student ceases to be enrolled or drops to less than a half-time status at the Hannibal Career and Technical Center.
• Scholarships are typically based on academic achievement and do not require repayment. Financial need us a criterion for eligibility for most scholarships.
Grant Information
Pell Grant: Funded through the U. S. Department of Education. Eligibility is based on family’s financial situation. Maximum award for the 2009-10 academic year is $5350.
Access Missouri SFA: This is a need-based program administered by the Missouri Department of Higher Education. Eligibility is determined by the student’s expected family contribution (EFC) as calculated through the Free Application for Federal Student Aid (FAFSA). EFC must be $12,000 or less. The FAFSA must be filed by April 1; must be a U.S. Citizen or permanent resident and a Missouri resident; be enrolled full-time at a participating Missouri school; must maintain satisfactory academic progress.
Veterans Educational Benefits: For veterans of the armed forces. Contact Veterans Administration for application or visit www.gibill.va.gov.
Vocational Rehabilitation: For persons needing to train or re-train due to a handicapping condition preventing them from having employment success at their current level of training. Contact Vocational Rehabilitation, 112 Jaycee Drive, Hannibal, MO 63401, 248-2410.
Workforce Investment: Income eligible persons may receive a grant to supplement the costs of tuition, supplies and materials, and may receive needs-based payment for living expenses. To apply, residents of Macon, Shelby, Marion, Randolph, Monroe, Ralls, and Pike counties in Missouri should contact the Gamm Project, P.O. Box 170, La Belle, MO 63447, 1-800-866-9021. Lewis County residents contact Northeast Missouri Regional Planning in Memphis, MO, 816-465-7281.
Displaced Worker: Programs are intended to train and place into new jobs, workers displaced from their jobs through permanent layoffs or plant closings as well as displaced farmers. To apply, contact the Gamm Project, P.O. Box 170 La Belle, MO 63447, 1-800-866-9021.
Rural Missouri, Inc.: Program for seasonal farm workers and their families who have received wages for farm work, orchard, or nursery work in the last two years. To apply, contact Rural Missouri, Inc., 1014 NE Drive, Jefferson City, MO 65109, 1-800-234-4971.
Gamm Vocational Project: Residents of Knox, Clark, Lewis, Scotland, Shelby, Adair, Sullivan, Schuyler, Putnam, Macon, Marion, Monroe, Ralls, Pike, and Randolph counties in Missouri may receive a grant for a portion of their tuition expenses. To apply, contact Gamm Project, P.O. Box 49, La Belle, MO 63447,
1-800-866-9021.
Trade Readjustment Act: Available to persons who have lost their jobs and need re-training due to the closing of an American business because of foreign industry. To apply, contact Job Service Office, 203 North 6th Street, Hannibal, MO 63401, 248-2520.
Futures: Available to persons who receive cash payments from AFDC or ADC. Futures may pay some tuition, childcare, transportation, or other expenses. To apply, contact Kay Latta or Paula Steele, Division of Family Services, 3055 Holman Drive, Hannibal, MO 63401, 248-2551.
Student Loan Information
Subsidized Stafford Loan: These loans must be repaid and limits vary according to enrollment status.
• Maximum loan amount is $3500 if enrolled as a full-time student for the academic year.
Students may be eligible for an additional $2000.00 in unsubsidized loans if needed.
• If less than full-time, the loan limits are based on the number of clock hours to be
completed for the academic year.
• Must be at least a half-time student to qualify.
Repayment of the loan begins six months after student status drops to less than half-time. Interest rate is 0% in-school (subsidized by the Federal government) and currently, fixed interest rate of 5.6% during repayment. Applications are available through the Registrar/Financial Aid Office.
Unsubsidized Stafford Loan: This loan must be repaid and is designed for independent students. Loan limits vary according to enrollment status.
• Loan amount is $4000 if enrolled as a full-time student for the academic year. Students may be
eligible for an additional $2000.00 if needed.
• If less than full-time, loan limit is based on the number of clock hours to be completed
• Must be at least a half-time student to qualify.
Repayment of the loan begins six months after the student’s status becomes less than half-time. Interest rate is 6.8% and will accrue during in-school period unless student chooses to make monthly interest payments. Applications are available through the Registrar/Financial Aid Office.
Parent Loans for Undergraduate Students (PLUS): Parents of dependant undergraduate students may obtain guaranteed loans. PLUS loans may not exceed the student’s estimated cost of attendance minus any estimated financial assistance the student has been or will be awarded during the period of enrollment. Repayment of PLUS loans begins 60 days after the loans are disbursed. Interest rate for new borrowers is currently fixed at 8.5%. Applicants should contact the Financial Aid Office or the lender.
Entrance and Exit Counseling
Students receiving Stafford Student Loans while enrolled as an adult on either a full- or half-time basis, must participate in loan counseling at www.mappingyourfuture.org before receiving disbursement(s). The student must also attend an exit counseling prior to graduation or termination of enrollment. The Registrar/Financial Aid Counselor conducts these counseling.
Lenders
Hannibal Career and Technical Center prefers to use lenders that participate in the Automated Transfer of Money (ATOM) program offered through the Missouri Department of Higher Education. A complete list of ATOM lenders is available in the Financial Aid Office. We also use MOHELA as our servicer, because it provides exceptional borrower benefits and customer service to our students. However, HCTC will gladly work with any lender, servicer, and guarantor a student prefers, but it will be the student’s responsibility to provide the names, lender codes, addresses and phone numbers so we can accurately process the loan request. You may contact the Financial Aid Office for additional information.
Default Prevention
Students who attend the Hannibal Career and Technical Center have the opportunity to contact the school anytime during the repayment of their guaranteed student loan. The school will assist them in any way possible, in order to prevent loan default, including assistance in obtaining deferment, forbearance, or consolidation of their loans. Also, if the student has a question in regard to the student loan program, the school will be glad to assist them in contacting their lender, servicer, or guarantee agency.
Default is the repeated failure of a student loan borrower to repay his/her student loan over time. A default is recorded on your permanent credit record and has negative, long-term consequences.
Default Prevention is a program to educate and counsel student loan borrowers about their obligations while they are still in school. The program targets students that have graduated or left school, as well.
Scholarship Information
Missouri Higher Education Academic Scholarship (Bright Flight): Maximum scholarship awards issued are $2000 per student. These scholarships may be renewable each year. A student must meet the following criteria for eligibility:
• Be a Missouri resident and United States citizen or eligible non-citizen
• Be attending full-time at a participating Missouri post-secondary institution
• Be a 2009 high school graduate
• Have a composite score on the ACT or SAT in the top 3 percent of all Missouri students taking those tests by June test date of your senior year. You can get more information online at www.dhe.mo.gov.
Marguerite Ross Barnett Memorial Scholarship: This scholarship was established for students who are employed while attending school part-time. To be eligible, you must:
• Complete the 2009-10 FAFSA
• Be a Missouri resident and a United States citizen or an eligible non-citizen
• Be at least half-time, but less than full-time student at a participating Missouri post-secondary
school.
• Demonstrate financial need
• Be at least 18 years old.
• Be employed and compensated for at least 20 hours per week.
For more information, please check online at www.dhe.mo.gov,
A+ Schools Program: A student must be enrolled full-time and maintain a minimum 2.5 cumulative GPA.
Heartland Chapter PSI Scholarship: This scholarship is an annual fall award to a local student who is studying a business or secretarial course. The Heartland Chapter Scholarship Committee determines award amount. Application may be obtained from Financial Aid Office.
Kid’s Chance Scholarship: The purpose of Kid’s Chance is to provide financial scholarships to complete the education of children of workers who have been seriously injured or killed in Missouri work-related injuries. The scholarship is good for one school year or term, but the applicant must maintain acceptable grades. The applicant may re-apply at the end of one year or term for the scholarship for the following year or term. A student must meet the following criteria for eligibility:
• Be a Missouri resident
• Be between the ages of 16 and 25
• Have a parent who was permanently or catastrophically injured or killed in a Missouri compensable injury or occupational disease
The applicant must meet standards set by the Selection Committee of Kid’s Chance. The standards are based primarily on financial needs of the student. Applications may be obtained from the Financial Aid Office.
How to Apply for Financial Aid
Free Application for Federal Student Aid (FAFSA)
The Free Application for Federal Student Aid (FAFSA) must be completed to receive financial aid. Complete the FAFSA at www.fafsa.ed.gov using your previous year’s Federal Income Tax for yourself and/or your parents (dependant on whether you are a dependent or independent student), and our school code: 014028. Be prepared to answer questions about your untaxed income and assets as well. Assistance for completing the FAFSA can be obtained from the Financial Aid Office. After submitting the application, expect to receive a Student Aid Report (SAR) from the U. S. Department of Education within a few weeks.
Dependent or Independent
The Re-authorization of the Higher Education Act requires implementation of a new definition of independent student, which is in effect for loan periods of enrollment beginning on or after January 1, 1987. For 2009-10, you are automatically considered independent if you:
• Are at least 24-years old (Born before January 1, 1986)
• Are a veteran of the U. S. Armed Forces
• Are currently serving on active duty in the U.S Armed Forces for purposes other
than training.
• At any time since you turned age 13, both your parents were deceased, you were in foster care
Or were dependent or ward of the court.
• Have children who receive more than half of their support from you between July 1, 2009 and
June 30, 2010
• Have dependents (other than your children or spouse) who live with you and who receive
more than half of their support from you, now and through June 30, 2010
• Are a married student
• At the beginning of the 2009-10 school year, will be working on a master’s or
doctorate degree.
• You were or are an emancipated minor as determined by a court in your state of legal
residence (court documentation required)
• You were or are in legal guardianship as determined by a court in your state of legal residence
(court documentation required)
• At any time on or after July 1, 2008, your high school district homeless liaison determine that
You were an unaccompanied youth who was homeless (documentation required)
• At any time on or after July 1, 2008, the director of an emergency shelter or transitional
Housing program funded by the U.S. Department of Housing and Urban Development
Determine that you were an unaccompanied youth who was homeless. (documentation required)
• At any time on or after July 1, 2008, the director of a runaway or homeless youth basic center
or transitional living program determine that you were an unaccompanied youth who was
homeless or were self-supporting and at risk of being homeless.
Student Budgets
Expected Contributions
How are expected contributions calculated? For a student who is dependent upon parents, these resources would include a parent’s contribution and the student’s contribution. For the independent student, the resources would include only the student’s contribution, and the spouse’s, if married.
Therefore, if a student budget indicates the total cost of education to be $5,000 and the expected family contribution is $1,000, the student will be eligible for $4,000 of financial aid.
Financial Aid and Your Academic Load
During the academic year in which you receive aid, your eligibility is governed by your academic load. If you are not a full-time student, you will not be eligible for the maximum awards for financial aid. You must be enrolled in an approved program(s) in order to be considered for any financial aid.
Financial Aid Related Websites:
www.fafsa.ed.gov www.mappingyourfuture.org www.mohela.com
www.nslds.ed.gov www.gibill.va.gov www.sss.gov
Verification
In order to receive financial aid administered through the Hannibal Career and Technical Center, a student may be required to furnish documentation for verification of information provided on the financial aid application. Any student unable to provide this information will not receive financial aid.
Students may be required to provide the Financial Aid Office with copies of their and/or their parent’s 1040 or 1040A which was used to complete the various applications for assistance. If the student has submitted to the Federal Government a 1040 or a 1040A, this must be submitted. Additional verification may be requested by the Financial Aid Office in order to substantiate other information reported on the application. Items which are most often subject to verification include: social security, veteran’s benefits, non-taxable income, interest income, and asset amounts.
Students must provide the Financial Aid Office with documentation for verification prior to the disbursement of any Title IV award or the processing of a Stafford Student Loan application. If the student is unable to furnish the Financial Aids Office with the appropriate documents, the application will not be processed.
If the verification procedure discloses information, which will change the award to be received by the applicant, the student will be requested to come to the Financial Aid Office for a personal interview. At that time, the discrepancy will be discussed and the proper steps will be initiated to correct the error.
If applicable, the student will be required to make corrections on their FAFSA. These items are the responsibility of the student, not the Financial Aid Office. If the student has already applied for a Stafford Student Loan, the lender will be notified of the changes to the application.
Required Verification Items:
• Household size (number of persons in the household)
• Number enrolled in Post-secondary Education (number of household members attending a post-secondary educational institution at least half-time with 6 credit hours for at least one term or 12 clock hours per week.
• Adjusted Gross Income (AGI) or income earned from work if AGI has not been calculated, for the base year
• U. S. Income Tax Paid for the base year
• Certain Untaxed Income and Benefits for the base year
◦ Social Security benefits, if certain conditions apply
◦ Child support, if certain conditions apply
◦ Untaxed payments to IRA and/or Keogh plans
◦ Foreign income exclusion
◦ Earned income credit
◦ Interest on tax-free bonds
◦ Other untaxed income included on the U.S. income tax return (excluding schedules)
Required Verification Documentation
For each of the required verification items,
specific documentation is acceptable and you will be required to provide such
documentation. Financial Aid will determine what documentation is necessary.
Rights and Responsibilities
Student Rights
You have the right to know:
• what financial aid programs are available at the Hannibal Career and Technical
Center
• what the deadlines are for submitting applications for each of the programs available.
• how your financial need is determined
• how the Hannibal Career and Technical Center refund and repayment policies
work
• how the Financial Aid Office determines whether you are making satisfactory
progress and what happens if you are not.
Student Responsibilities
You must:
• complete all applications accurately and submit them on time to the right place
• provide correct information. In most instances, reporting incorrect information on financial aid application forms is a violation of the law and may be considered a criminal offense, which could result in indictment under the U.S. Criminal Code
• return all additional documentation, verification, corrections, and/or information requested by the Hannibal Career and Technical Center
• be responsible for submitting any financial aid applications for corrections if errors exist or if verification discloses any discrepancies
• be responsible for reading and understanding all forms that you are asked to sign and for keeping copies of them
• accept responsibility for all agreements that you sign
• make satisfactory progress toward an educational objective
• notify the Financial Aid Office of any change in address or financial situation
Selective Service Registration and Title IV Funds
Any student, who is required to be registered with the Selective Service and fails to register, is ineligible for student financial assistance that is provided through programs established under Title IV of the Higher Education Act. For more information on Selective Service Registration, visit www.sss.gov.
Student Withdrawal Procedures
1. Notify the Registrar/Financial Aid Counselor of your intention to withdraw from the program(s)
2. Obtain a Student Withdrawal Package from the Registrar/Financial Aid Office
3. Student Withdrawal Package must be completed with the initials of all applicable program instructors before the withdrawal is processed
4. Complete an exit interview (Stafford Loan borrowers only) in the financial Aid Office
5. Complete Pro Rata Withdrawal Form (Financial Aid Office)
6. Complete the standard disenrollment checklist (Practical Nursing student will need to see the Coordinator, personally)
7. Provide current mailing address, telephone number, and at least one relative contact, not living with you, to the Registrar/Financial Aid Counselor
8. Be aware that future transcript requests must be in writing and include a payment of $2.00 fee
Disbursements
Payments to students receiving Pell Grants, Missouri Grants, and/or scholarships, will be credited to the student’s tuition account at the school. Payments from Stafford Student Loans are electronically received at the Business Office. All students will receive their first financial aid disbursement without regard to satisfactory academic progress. It is the belief of the Hannibal Career and Technical Center that the student’s overall performance cannot be measured in the short period of time before the first disbursement. All future disbursements will be based on appropriate attendance percentage and on the student making satisfactory academic progress. At that time, the Financial Aid Counselor verifies enrollment, attendance, and academic progress of the student. If the student is in good standing, money is then disbursed. The student is expected to pay the tuition balance, in full, when disbursement is made.
Pell grants, Stafford Student Loans, A+, VocRehab, and the Missouri Grant awards are disbursed in two payments. All efforts are made for disbursements to be made in a timely manner. The Financial Aid Counselor will make arrangements to contact the student or instructors as to what time disbursements may be picked up in the Bookkeeper’s office.
If a student has been denied payment of financial aid during a term due to unacceptable grade or attendance, that student will have financial aid reinstated when his/her grade or attendance has been re-established at an acceptable level.
Daytime Adult Students
Students must complete the required number of hours before receiving their payment of financial aid according to the following schedule:
|
Payment Periods |
Department |
1st Payment |
2nd Payment |
|
Full-time students must have successfully completed the listed number of clock hours per term to receive financial aid disbursements |
Trade & Industry Business & Managerial |
After 30 days of active participation in program of study |
After 466 hours completed |
|
Half-time students must have successfully completed the listed number of clock hours per term to receive financial aid disbursements
|
Trade & Industry Business & Managerial |
After 30 days of active participation in program of study |
After 233 hours completed |
Practical Nursing Students
Students must complete the required number of hours before receiving their payment of financial aid according to the schedule below. Practical Nursing is available on a full-time basis for the first term and optional part-time thereafter provided all paperwork has been completed and properly filed with the Registrar/Financial Aid Counselor.
|
|
Academic Year 1 |
Academic Year 2 |
|
||||
|
Payment Periods |
1st Payment |
2nd Payment |
3rd Payment |
4th Payment |
5th Payment |
6th Payment |
|
|
Full-time students must have success-fully completed stated clock hours for disbursement |
After 30 days of active participation in program |
After 501 hours completed |
After 1001 hours completed |
After 1251 hours completed |
No fifth payment |
No sixth payment |
|
|
Part-time students must comply with the above guidelines |
After successful completion of course(s)
|
After successful completion of course(s) |
After successful completion of course(s) |
After successful completion of course(s) |
After successful completion of course(s) |
After successful completion of course(s) |
|
Refund Policy
|
100% refund
|
Student withdraws prior to the beginning of the term. |
|
90% refund
|
Student withdraws during the first week of term. |
|
75% refund |
Student withdraws during the second week of term.
|
|
50% refund |
Student withdraws during the third week of term.
|
|
25% refund |
Student withdraws after fourth week of term |
|
No refund |
Student withdraws after the 60% point of the payment period |
|
Students will be responsible for any school items not returned in good condition: textbooks, parking tag ($10), identification badge ($4), combination lock ($5), etc.
|
|
Federal Return of Title IV Funds Policy
The federal formula for Return of Title IV Funds applies to any recipient of Pell grant, a federal student loan, or a Parent PLUS Loan who withdraws or is dismissed on or before the 60% point of the payment period. In such a case, percentage or the Title IV aid to be returned is equal to the percentage of clock hours not completed in the payment period. If a student has completed more than 60% of the scheduled clock hours in the payment period, the student is considered to have earned 100% of the federal aid disbursed. If funds have been released to a student because of a credit balance on the student’s account, then the student may be required to repay some of the federal aid if the student withdraws or is dismissed.
Refunds will be credited to programs in the following order:
1) Unsubsidized FFEL Loans
2) Subsidized FFEL Loans
3) Federal PLUS Loans
4) Pell Grant
5) Other federal, state, private, or institutional aid
WIA/TRA/VR/VA Refunds
Refunds will be calculated according to the Department of Elementary and Secondary State Board Education regulations.