Financial Aid Reminders for Fall 2023

Please take a moment to review these important financial aid reminders for Fall 2023.  You are encouraged to share this information with students!

Apply for Financial Aid:
Students may complete the 2023-2024 Free Application for Federal Student Aid (FAFSA) and submit any items that may be requested on their NOVAConnect To Do List to be considered for financial aid for fall 2023, spring 2024 and summer 2024.  Find more information on applying for financial aid. 

View Pending Financial Aid:
Financial aid offered for fall 2023 before September 7 (the last day to drop 15-week courses with a tuition refund) is based on anticipated full-time enrollment. If students enroll in less than 12 eligible credits, their financial aid award may be reduced. To view pending financial aid based on current enrollment, students may log in to NOVAConnect and follow the instructions provided.

Tuition Payment Deadline:
At this point in the semester, tuition payment is due the next business day after students enroll. If pending financial aid is less than the total cost of a student’s tuition and fees, the student needs to pay any remaining balance. Students can confirm if pending aid is enough to cover the balance by following the instructions provided. One option to consider is NOVA’s payment plan. 

Grant Eligibility for Fall 2023:
Grant eligibility for fall 2023 is based on enrollment as of September 7, 2023, so students should register for all the courses they plan to take during the entire fall term before September 8. Fall courses added on or after September 8 will not increase grant eligibility.

Purchase Books, Supplies and Laptops with Financial Aid:
If a student’s pending financial aid is more than what is owed for the fall term, the student may use excess aid to purchase books, supplies or even a laptop through the NOVA Bookstore after completing the Bookstore Authorization E-Form on their To Do List. This form will only appear on a student’s NOVAConnect To Do List if they are eligible to complete it and have not already done so for the current academic year. Learn more here.

Financial Aid Disbursements and Refunds:
Most federal and institutional aid is disbursed two to three weeks after students have attended at least six eligible credits past the course census date if they do not have any holds or incomplete To Do List items on their NOVAConnect account that prevent disbursement.

State aid is disbursed after students have attended the minimum number of eligible credits required for the respective state program past the course census date.

Aid for students enrolled in only one to five eligible credits is disbursed after they have attended past the course census date.

No aid is disbursed before the term census (the last day to drop with a tuition refund for the longest session of the term).

At the time of loan disbursement, students must be currently attending at least six eligible credits past the course census date or they must have already successfully completed at least six eligible credits during the term. 

After disbursement, it may take an additional one to two weeks to receive any refund for excess financial aid depending on the student’s refund preference. The quickest way to receive refunds is by direct deposit. Check out a tutorial for managing refund preferences through NOVAConnect.

Impact of Dropping or Withdrawing from Courses:
Students should always contact the Financial Aid Office before dropping, withdrawing, auditing or deciding not to attend a course to confirm how it will affect their financial aid. Students should also review both the Return of Title IV Financial Aid Funds (R2T4) policy and the Satisfactory Academic Progress (SAP) policy to make an informed decision.

Changes in enrollment can reduce financial aid eligibility depending on the type of aid, how many credits a student is no longer attending, and the timing of when the enrollment changes.  Students are required to repay any financial aid that they are no longer eligible to receive.

Questions:

Please visit a campus Financial Aid Office or email finaidsupport@nvcc.edu if you have any questions.

Submitted by:
Clint Young, Financial Aid, JCYoung@nvcc.edu