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Important Dates: Past Item

2012-2013 Financial Aid Updates

Dates:

Mon., October 8, 2012 - Sat., May 4, 2013

Location:

L-114

Description:

Recent Financial Aid Regulation Updates


  • Acceptable Tax Form: Pasadena City College (PCC) no longer accepts copies of the federal tax form (1040). Students must obtain an IRS Transcript at www.irs.gov or,

  • IRS Updates Available Online: Student/parents that file their federal taxes electronically can use the IRS Data Retrieval Tool. The IRS Data Retrieval Tool allows students and parents to access the IRS tax return information needed to complete the Free Application for Federal Student Aid (FAFSA) and transfer the data directly into the FAFSA.  
    • It’s the easiest way to provide your tax data.

    • It’s the best way of ensuring that your FAFSA has accurate tax information.

    • You will not have to give PCC a copy of your or your parents’ tax forms.




Here are 2 videos to assist you with information on IRS data retrieval:



Remember, if you do not use the IRS Data Retrieval Tool you must obtain the tax transcript from the IRS.


  • High School Graduate: Beginning July 1, 2012, in order to receive federal financial aid or Cal Grant, applicants must have a high school diploma or GED.

  • BOG Fee Waiver Need Eligibility: Beginning summer 2012, the minimum financial need for Board of Governors grant eligibility will change from $1 to $1,104. Financial aid need is calculated as follows:


Cost of Attendance - Expected Family Contribution = Financial Need


Pell Grant Eligibility Changes:  Pell grant is now calculated on the percentage of grant used at any college or university. Pell Grant is now up to 600% of lifetime eligibility. For example, if a student received a Pell Grant at another college in 2003-04 and that Pell Grant was 100% of the scheduled award, the remaining percentage is 500%. Therefore, the 600% will begin for periods of enrollment prior to 2008-09 and is the aggregate total for all periods the Pell Grant is received.


Duration of Pell Grant Eligibility: The new rules also change the Pell Grant duration of eligibility from 18 full time equivalent semesters to 12.


Minimum Pell Grant Award: The minimum 2012-13 Pell Grant award eligibility must be at least 10 percent of the maximum award amount or an eligible EFC at 4995 instead of 5273.


Repeat Coursework: The new rule sets a limit on the number of times a course can be repeated with a passing grade.  In other words, students can only receive federal financial aid funds one time for a class that he/she previously passed with a grade of D or better (for financial aid purposes “D” is a passing grade). The regulation is applicable to any period of enrollment with or without financial aid and includes coursework counted as acceptable from an academic transcript. This rule does not affect the Board of Governor’s fee waiver.


Eligible Program:  Students must enroll in an approved degree or certificate program at PCC in order to receive student aid. PCC students should review and follow the program outline for their educational goal to ensure that eligibility is maintained and they complete that goal in a reasonable amount of time.


For more information, regarding the regulation updates, please see the staff at the Office of Scholarships & Financial Aid, L-114.

Website

http://www.pasadena.edu/studentservices/financialAid/index.cfm

Contact:

626-585-7401, finaid@pasadena.edu