2007-2008- Volume 82, No. 1

Clearwater Campus, AD 154: (727) 791-2485

St. Petersburg/Gibbs Campus, AD 102: (727) 341-4321

Seminole Campus, UP 132: (727) 394-6254

Tarpon Springs Center, AD 126: (727) 712-5709

Clearwater Campus Director, AD 153: (727)791-2443

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Financial assistance consists of scholarships, grants, and loans or paid employment offered to help a student meet college expenses. Such assistance is usually provided by or through federal and state agencies, foundations, corporations, private donors and the college itself.

The amounts and types of financial assistance that a student receives are determined through federal, state and institutional guidelines and are offered to students in combinations or "packages" which may consist of grants, scholarships, loans and employment designed to help students meet educational expenses. Grants and scholarships are regarded as "gift" assistance and need not be repaid, although they may carry certain provisions to which one must adhere. Loans are usually offered at low interest rates and can be repaid over an extended period of time. Where assistance is offered in the form of a job, the student is paid an hourly rate for work performed.

Philosophy of Financial Assistance

The St. Petersburg College program of financial assistance exists to provide students who, for lack of funds, would be unable to attend. Financial assistance is offered based upon "financial need" as determined by the federal government's system of need analysis.

What is Financial Need?

Financial need is the difference between the cost of education and the amount the student (and parents) can be expected to contribute toward the educational costs of attending college. St. Petersburg College uses the Free Application for Federal Student Aid (FAFSA) which determines financial need based on federal regulations and information supplied by you and/or your family. The College expects that you and your family will contribute to your fullest from income and assets in meeting expenses. Also, it is your responsibility to apply for any additional assistance to the Scholarships and Financial Assistance office.

How to Apply

In order to apply for the Federal Pell Grant, Academic Competitiveness Grant, Federal Supplemental Educational Opportunity Grant, Florida Student Assistance Grant, Federal Work-Study Program, Federal Stafford Loan and some college awards, you must complete The Free Application for Federal Student Aid (FAFSA) form.

This application is available from your high school or college Scholarships and Student Financial Assistance Office or you can complete this application on line at www.Fafsa.ed.gov. It is completed by you and your family and mailed to the processor. Results of the federal analysis are sent directly to you in the form of a Student Aid Report (SAR).

The FAFSA and any other requested documents should be filed according to instructions as soon as possible after January 1 for the college year beginning in August. Some programs have limited funding so it is strongly recommended that you apply early. Priority is given to students whose files are complete by April 15. However, anyone who needs assistance should apply regardless of the date when you begin college. Remember, you must apply for aid each academic year, a separate request form is required for summer aid.

Who Qualifies for Financial Assistance?

Generally, to qualify for federal, state and institutional aid, you must meet the following requirements:

1. demonstrate financial need according to a financial needs analysis system;
2. be enrolled and attending classes;
3. be a degree seeking student (either B.S., B.A.S., A.A., A.S., or A.A.S. degree);
4. maintain satisfactory academic progress in your course of study;
5. not be in default or owe a repayment on any Title IV funds received at any institution; and
6. be a United States citizen or a permanent resident of the United States or Trust Territories.

To qualify for financial assistance, students who are not high school graduates or who do not possess the GED must demonstrate ability to benefit from college-level programs at SPC by passing the College Placement Test with minimum scores as specified in College Procedures.

Standards of Academic Progress

Federal regulations require that students demonstrate that they are moving through their academic program at a reasonable rate or are “making progress” toward their degree. Financial Aid Standards of Academic Progress is applicable regardless of whether or not the student is receiving financial assistance. Financial Aid Standard's of Academic Progress is determined at the end of Spring Term. Therefore, the college has established a grade point average that a student must attain as he or she progresses. In determining required grade point average, only grades of A, B, C, D and F are considered. All other grades, i.e., W, I, S, P and X do not affect the grade point average. Further, we have established that students must complete 50 percent (1/2) of the course work that they attempt each year to continue to qualify for assistance. In determining the 50 percent completion rate, only grades of A, B, C, D, F, N and S will be taken into consideration. All other grades, i.e., I, W and X do not satisfy the completion rate requirement. Courses taken on an audit basis (grade of “X”) cannot be counted in financial assistance calculations.

Students who obtain a Pell Grant, Stafford Loan and/or Federal Supplemental Educational Opportunity Grant may be required to refund to the Department of Education a portion or all of their financial aid if they withdraw completely from classes before the 60% point. A student also may be required to repay funds to the College. For students considering totally withdrawing from the College, it is important to consult the Scholarships and Student Financial Assistance office on his/her home campus or center to understand the options and the consequences of total withdrawal.

A student who fails to complete the Financial Aid Standard of Academic Progress requirement will not be eligible for future financial assistance until he/she successfully completes 50% of the hours earned in one year and has a cumulative grade point average equal to the credit hour interval indicated in the chart below. Generally, students in an AA, AS or AAS program may not receive financial assistance at SPC if they have attempted more than 90 credits and students enrolled in a BS or BAS program are limited to 180 credits.

Credit Hours Earned up to 15 by 30 by 45 by 60

Required Cumulative Grade Point Average 1.50 1.75 1.90 2.00

Special exceptions to the standards may be granted for extenuating circumstances provided that the student documents the facts during the year in question. All appeals must be made at the campus Scholarships and Student Financial Assistance office.

How and When Assistance is Delivered to Students

1. Employment - Checks for students under Federal Work-Study and Student Assistance may be picked up bi-weekly where the student works.
2. Grants and Loans – Students receiving PELL or Supplemental Educational Opportunity grants and Federal Stafford Loans are paid as follows:


1. Deductions are first made for obligations such as tuition, etc.
2. The balance will be available to students in a check before mid-session.

Visit the Scholarships and Student Financial Assistance web page for more information.

 

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Last revised July 31 2007
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