Welcome Voc Rehab Training Allowance Program and Financial Aid
VR POST SECONDARY TRAINING ALLOWANCE REQUIREMENTS • 1. Be eligible for VR Program. • 2. Completed an informational interview and Education Budget Worksheet. • 3. Developed an Individual Plan for Employment (IPE) with a job goal requiring post secondary training approved by VR 60 days prior to school starting. • 4. Submitted the Free Application for Federal Student Aid (FAFSA) form 60 days prior to school starting and your financial aid application has been processed by the school.
VR Post Secondary Policies • VR will only pay for 6 semester hours or 9 quarter hours of classes that are remedial or developmental. • VR does not pay for repeat classes unless repeat is due to disability issues. • VR does not pay for Summer Classes unless the classes are required to graduate in August or the end of the following school term; summer is the only time the classes are taught; the classes are part of a quarter system; or the class is a co-op or internship required for program completion
How VR Assistance is Determined Finanacial Aid Release Form How VR Assistance is Determined Finanacial Aid Release Form • School Budget ……… $ 8000 • Adjustment to Budget…..+ • Revised Budget………=$ 8000 • EFC Expected Family Contribution…. - $ 1500 • Pell……………………- $ 2600 • Federal &State Gift Aid..-$ 500 • Scholarships……………- • Other…………………...- • Unmet Need…………= $ 3400 • School Loan VR assistance will affect the amount of loans you will be eligible for.
VR Training Allowance Guidelines • For Associates Degree and below VR will pay $63 a semester hour.* • For a quarterly system VR will pay $42 a quarter hour.* • For a clock hour VR will pay $1.68 a clock hour.* • For a Baccalaureate Degree and above VR will pay $103 a semester hour.* *May be limited by your unmet need.
VR Training Allowance OptionsStudent and VR Specialist complete training allowance planning by appointment, phone or e-mail. • The VR Training Allowance can be provided to you, split between you and the school, or provided to the school. • Discuss the options with your specialist and mutually decide how you would like the training allowance provided.
VR Training Allowance continued • You must provide your specialist with a copy of your term registration as soon as you are registered. • You must immediately notify your specialist of any changes in your registration or class schedule. • You must provide your specialist with a copy of your term grade report as soon as the report is available to you. • Without registration copies no funding can be authorized.
VR Reasonable Progress Requirements • Complete 24 semester hours of credit in a calendar year for schools on a semester basis. • Complete 36 hours of credits during a calendar year for schools on a three semester system. • Complete 48 hours of credit in a calendar year for schools on a quarterly system. • Consult with your VR Specialist on your need for a reduced course load. • Maintain a 2.0 GPA (C average) or higher if required by the school.
Student Responsibilities • KNOW SCHOOL RULES • MANAGE YOUR COURSE WORK • DON’T MAKE ASSUMPTIONS • DON’T CHANGE MAJORS WITHOUT CONSULTING WITH YOUR VR SPECIALIST • STAY IN REGULAR CONTACT WITH YOUR VR SPECIALIST
Post Secondary Information ARE YOU READY FOR SCHOOL? 1. Have you selected the school you will be attending? 2. Have you visited the campus; talk to Admissions, Department Head, Special Needs Counselor, completed your application? • Have you made a commitment to go to school for an education and prepared to study? • What are your resources? a. Have you developed a Budget to see how much school costs? b. Have you filed for financial aid?
Get to know the people at the school that can be helping you • SPECIAL NEEDS COUNSELOR • FINANACIAL AID OFFICE STAFF • ADVISOR • Trio if they are active on your campus • Let these people know you are working with VR and other agencies
Special Needs Counselor They will help you to advocate for your needs. • 1. You must ask for accommodations and assistance. A. note takers B. tutors C. readers D. extra time, etc. • 2. See that the counselor has a copy of your IEP, MDT or 504 plan from high school if you had one.
Free Application for Federal Student Aid Best Practice Procedure for filing the FAFSA • File for a pin number at http://www.pin.ed.gov It is best that you don’t put in your email address as the response by email is time limited and/or spam filters may not accept the message. Pin could get lost. Pin will come in the mail. 2. Gather required information and complete paper version of FAFSA. EducationQuest can answer FAFSA related questions. 3. File for financial aid at http://www.fafsa.ed.gov 4. FAFSA can be taken to school for transmission or sent to EducationQuest
Financial Aids Grants Complete the FAFSA after January 1 and submit it before March 1st. Scholarships are usually awarded in March. Grants and financial aid is based off the FAFSA information. • 1. Pell Grants -- Based on economic need using last year’s taxes. • 2. FSEOG (Federal Supplemental Educational Opportunities Grant) -- Additional Campus Based Funds based on economic need. • 3. Work Study
Financial Aids Grants continued • 4. SAP (State Assistance Program) state residency required. • 5. SSAP (State Scholarship Award Program) basically same program however state residency is not required.
Tuition Assistance Program T.A.P. at UNL, UNK & UNO Provides tuition paid after Pell but only on tuition. People with EFC Expected Family Contribution between $400 to $2000 is best fit. Fall Deadline for all students. • Financial aid must be completed and at the school by June 1st.
Types of Loans 1.SUBSIDIZED LOANS* Need Based • Perkins Loans - 5% New loan limits: $4,000 per year undergraduate - 9-month grace - 10 year repayment • Subsidized Stafford Loans - Interest Fixed Rate 6.8%: $3,500 maximum for freshmen - Up to 3% in fees - 6-month grace - 10 year repayment 2. UNSUBSIDIZED LOANS* Non-need Based Non-Subsidized Stafford Loan - Same terms as Subsidized Stafford - Borrower pays all interest - $3,500 max. of Subsidized + Unsubsidized First year student limit PLUS Loan (parents) - Must be credit worthy - Cost of education minus other aid - Fixed Rate Interest between 7.9 and 8.5% - Up to 4 % fees - Immediate 10-year repayment - repayment begins 60 days after loan is finalized *Stafford Loans are made through either the Federal Family Education Loan Program (FFEL) or the William D. Ford Federal Direct Loan Program.
CAUTION NEED TO TALK TO TAX ADVISOR BEFORE UTILIIZING THE FOLLOWING SUGGESTIONS:
TAX CREDITS AND OTHER HINTS FOR FUNDING • Hope Scholarship Credit • Provides up to $1500 tax credit per student up to 2 years. • See your Accountant for details if this is right for your situation.
TAX CREDITS AND OTHER HINTS FOR FUNDING (Continued)LIFETIME LEARNING CREDIT • Maximum 20 % tax credit on the first $10,000 paid. • See your Accountant for details if this is right for your situation.
Other types of funding options • Education IRAs • Student Loan Interest Deductions • Uniform Gift to Minors Act • Nebraska College Savings Plan • See your Accountant for details and eligibility requirements
What is TRIO?TRIO Student Support Services Trio programs are educational programs that help low-income first generation and /or disabled and disadvantaged students enter and succeed in college. They were established by Congress and are funded under Title IV of the Higher Education Act of 1965.
What is TRIO Student Support Services? Purpose: Provide opportunities for academic development, assist students with basic college requirements, and services to motivate students toward the successful completion of their postsecondary education. The SSS program may also provide grant aid to current SSS participants who are receiving Federal Pell Grants. Goal:SSS Goal is to increase the college retention and graduation rates of its participants and facilitate the process of transition from one level of higher education to the next. Eligibility Requirements:Students must be enrolled in a program of postsecondary education at a participating school. Low-income students who are first generation college students and students with disabilities evidencing academic need are eligible to participate in SSS projects. 2/3 of the participants in any SSS project must be either disabled or potential first generation college students from low-income families. 1/3 of the disable participants must also be low income students.
Where are TRIO Programs? • Doane College: Crete, NE • Nebraska Indian Community College: Macy, NE • Peru State College: Peru, NE • Southeast Community College: Beatrice, Lincoln and Milford, NE • UNL, UNO and UNK • Wayne State College: Wayne, NE • Creighton University: Omaha, NE • Central Community College: Grand Island, Columbus and Hastings, NE • Western Nebraska Community College: Scottsbluf, NE
This concludes the presentation Questions ?