Processing Deadlines

Processing Deadlines

 

FINANCIAL AID APPLICATION TIMING
It is the student’s responsibility to have financial aid in place or pay his/her tuition and fees by the tuition deadline. It normally takes about four weeks to process your federal student aid application and seven to 10 business days once documents are submitted to Carl Sandburg College. Loans take approximately two weeks to process once the loan request form is submitted.

 

Tuition is due to the Business Office approximately four weeks before each semester begins. Keep in mind that financial aid can be a long process. If your financial aid has not been processed by the tuition due date, you will need to pay in full or sign up for the College´s payment plan. In order to ensure that your financial aid is in place by the tuition due date, you should file your FAFSA by May 1 for the fall semester, Oct. 15 for the spring semester (for new students who did not file a fall FAFSA), or March 1 for the summer semester. If you are transferring your financial aid from another institution, please contact the Financial Aid Office on how to start the aid transfer process.

 

LATE APPLICATIONS
Late applicants should allow four weeks for processing after the Financial Aid Office receives the federal student aid data. Loan processing requires two weeks after the Loan Request Form is submitted. The Financial Aid Office will process late applications as quickly as possible; however, late applicants should make other arrangements to meet payment deadlines until financial aid funds can be released.

 

REAPPLY ANNUALLY
YOU MUST REAPPLY FOR FINANCIAL AID ANNUALLY.

 

PERSONAL IDENTIFICATION NUMBER (PIN)
PIN stands for Personal Identification Number. This number may be used as an electronic signature for financial aid applications. In addition, the PIN may be used to check the status of your FAFSA, view a history of your financial aid received and get information about your Federal Direct Student Loan. To learn more, go to the PIN Web site at www.pin.ed.gov

 

VERIFICATION
One-third of all financial aid applications are selected for a process called "Verification." Verification is the process of checking the accuracy of information students provide on financial aid applications. Information you provide may be selected for verification by our Financial Aid Office or by the U.S. Department of Education. Students whose aid applications are being verified will not receive financial aid funds, including funds through the Federal Direct Loan Program, until the verification process has been completed. The process may be lengthy and some students may be determined ineligible for aid.

 

SPECIAL CONDITIONS
Some individuals may experience special circumstances that are not reflected on the aid application. If you experience a loss of job or benefits, a death or divorce, you may qualify for special consideration. Special Conditions applications may be submitted after June 1 and only after the student has been awarded or denied federal student aid based on the initial application. Special Conditions may affect federal aid programs and, in some situations, the Illinois MAP Grant. Please go to the Financial Aid Forms page or contact the Financial Aid Office for a Special Conditions application. You must apply each year.

 

FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)
The Central Processing System (CPS) processor must receive a student's FAFSA by June 30. A paper FAFSA must be legible and mailed to the Federal Student Aid Programs' address listed on the FAFSA in time for the processor to receive it by the June 30 deadline.

 

STUDENT AID REPORT
A school must receive a Student Aid Report with a calculated Expected Family Contribution (EFC) while the student is still enrolled for the award year. Applications that are rejected will not meet this requirement.

 

VERIFICATION DOCUMENTS
For Pell Grant recipients selected for verification, the school must have verification documents and a Student Aid Report with a calculated EFC no later than 90 days after the last day of enrollment or Aug. 15, whichever is earlier.

 

OTHER REQUIRED DOCUMENTS AWARDING AID
A school must receive all required documents while the student is still enrolled for the award year. This includes the Institutional Financial Aid Form and other documents required for packaging.

 

STUDENT LOANS
The Student Loan Request form must be submitted 20 working days prior to the last date the student is enrolled. Promissory Notes must be signed within 20 working days from the last day of the semester. Summer loans are processed for the semester.

 

MAP GRANT
MAP funds will be awarded as long as funds remain available from the state.  We encourage students to apply by February 15 in order to be considered for MAP funds. 

 

IVG NOTICE OF ELIGIBILITY
Fall term — Jan. 15; Spring term — May 25; Summer term — Sept. 15. Notices received after the date and before June 30 of the following year will be submitted for payment. These claims may be prorated or unpaid depending on funds available.