Financial Aid Payment & Eligibility

Financial Aid Payment, Dispursement, and Eligibility

 

Prior to the Pell and Stafford Loan deposits, the Financial Aid Officer verifies enrollment, attendance, and academic progress of the student. If the student is in good standing, disbursements from Stafford Loans and Pell Grants are deposited into FTC’s federal financial aid account and the money is applied to the students’ account by the business office. When the student has a credit balance on his/her account a check will be given to the student. This process may take up to 5 business days after the money is deposited. Pell Grants, Stafford Loans, and the Missouri Student Grant awards are all disbursed in two payments.

 

Payment Periods

 

Students must complete required clock hours of each program payment period before receiving their payment of financial aid for that pay period.

 

Disbursement Schedule is based on each program clock hours as:

 

Night Trade/Tech Programs – 720 clock hours total. 360 hours per pay period. Disbursements after 180 clock hours each pay period.

Day Trade/Tech Programs – 950 clock hours total. 475 hours per pay period. Disbursements after 238 clock hours each pay period.

Surgical Technology Programs – 1090 clock hours total. 545 hours per pay period. Disbursements after 273 clock hours each pay period.

Medical Office Assistant, Dental, Pharmacy Tech, Culinary – 900 clock hours total. 450 hours per pay period. Disbursements after 225 clock hours each pay period.

Practical Nursing Program – 1232 clock hours total. 616 hours per pay period. Disbursements after 308 clock hours each pay period.

 

Respiratory Therapy Program

 

Students in the Respiratory Therapy Program will follow Missouri Southern State University policy for financial aid disbursement.

 

Satisfactory Academic Progress

Satisfactory academic progress is made up of both grades and attendance. When grades fall below a “C”, unless the Program Coordinator specifies more rigid standards and attendance is less than 90%, the student will be placed on financial aid probation. If the student does not show improvement of grades or attendance before the next payment period, the student will be placed on financial aid suspension and will be denied financial aid. Failure to achieve or maintain minimum academic standards will also result in the notification of the lender and/or Federal Aid Program. Students who are denied financial aid must immediately set up an appointment with the bookkeeper to arrange payment of tuition and/or fees.

 

Probation and Suspension

If a student’s grade falls below a “C” average or attendance is less than 90% at any payment period; the student will be placed on financial aid probation, the student will be notified in writing and will be ineligible for any financial aid. If the student regains eligibility before the next payment period, he/she will receive any financial aid available. (NOTE: Once a student is placed on financial aid probation he/she must complete the number of hours for the 1st payment period before receiving any loan disbursement for the 2nd payment period). If the student does not come back into compliance, he/she will be placed on suspension and will not be able to receive any financial aid for the program.

 

A Probation and Suspension Appeal Form is available for students who feel they should not have been placed on probation or suspension and is available in the Financial Aid Office.

 

Reinstatement of Financial Aid Eligibility

If a student who has been denied payment of financial aid during a payment period brings his/her grades and/or attendance up to an acceptable level, financial aid will be reinstated. See the Financial Aid Officer for more information.

 

CODE OF CONDUCT FOR FRANKLIN TECHNOLOGY CENTER FINANCIAL AID PROFESSIONALS

A financial aid professional at the Franklin Technology Center is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity. In doing so, a financial aid professional should:

 

      – Refrain from taking any action for his or her personal benefit.
      – Refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents he or she serves. Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
      – Be objective in making decisions and advising his or her institution regarding relationships with any entity involved in any aspect of student financial aid.
      – Refrain from soliciting or accepting anything of other than nominal value from any entity (other than an institution of higher education or a governmental entity such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses) for serving on an advisory body or as part of a training activity of or sponsored by any such entity.
              – Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any entity involved in any aspect of student financial aid.

 

Code of Conduct adopted from NASFAA

 

If you have questions regarding your financial aid, contact Cheryl Brown at Franklin Technology Center @ MSSU 417-625-9865.

 

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