Financial Aid Reminders for Fall 2024
Please take a moment to review these important financial aid reminders for Fall 2024. Please share this information with students!
Apply for Financial Aid:
Students may complete the 2024-2025 Free Application for Federal Student Aid (FAFSA) and submit any items that may be requested on their myNOVA To Do List to be considered for financial aid for Fall 2024, Spring 2025, and Summer 2025. More information on applying for financial aid is available here.
View Pending Financial Aid:
Financial aid offered for Fall 2024 before September 13 is based on anticipated full-time enrollment. If students enroll in less than 12 eligible credits, their financial aid award may be reduced. Click here to view pending financial aid based on current enrollment, students may log in to myNOVA and follow the instructions provided.
Tuition Payment Deadline:
At this point, payment is due the next day after students enroll. If pending financial aid is less than a student’s total charges, the student needs to pay any remaining balance. Students can confirm whether pending aid is enough to cover their balance by follow the instructions provided. One option to consider is NOVA’s payment plan.
Grant Eligibility for Fall 2024:
Grant eligibility for Fall 2024 is based on enrollment as of September 12, 2024, so students should register for all the courses they plan to take during the entire fall term before September 13. Fall courses added on or after September 13 will not increase grant eligibility if a student is also registered in any course that has a deadline to drop with a tuition refund before September 13.
Course Materials Provided Through the NOVA All Access Program:
If students did not opt out of the NOVA All Access program, the cost of their course materials is included in the charges shown on their myNOVA SIS account summary. Information on obtaining course materials through the NOVA All Access program is provided here.
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 myNOVA To Do List if they are eligible to complete it and have not already done so for the current academic year. More information is available here.
Financial Aid Disbursements:
Most federal and institutional aid is disbursed 2-3 weeks after students have attended at least 6 eligible credits past the course census date if they do not have any holds or incomplete To Do List items on their myNOVA 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 1-5 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 6 eligible credits past the course census date or they must have already successfully completed at least 6 eligible credits during the term.
Financial Aid Refunds:
After disbursement, it may take an additional 1-2 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. Click here for a tutorial on setting up refund preferences through the myNOVA Student Information System (SIS).
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 stop by a campus Financial Aid Office or email finaidsupport@nvcc.edu if you have any questions.
Submitted by:
Clint Young, Financial Aid, JCYoung@nvcc.edu