Grants

Federal Pell Grant

The Federal Pell Grant is considered to be the foundation of financial aid. Eligibility for this program is determined before aid from other sources (federal and non-federal) is awarded. The Pell grant does not have to be paid back, unlike loans. Awards are made according to the EFC calculated for the student.

The Pell grant for the 2012-2013 and 2013-2014 academic years (July 1 to June 30) maximum award is $5,550. The amount you receive will depend not only on your demonstrated financial need, but also on your costs to attend Keystone College, your status as a full time or part time student, and your plans to attend Keystone College for a full year or less.

Supplemental Educational Opportunity Grant (SEOG)

The Supplemental Educational Opportunity Grant, or SEOG, is a grant awarded to students with exceptional financial need. Students who are Pell grant eligible with the lowest EFCs will be the first to receive SEOGs, which do not have to be paid back. Keystone College bases its SEOG awards on the EFC, demonstrated financial need, and funding available in the program.

Verification

Verification is a process by which the U. S. Department of Education regulates quality control. The Financial Assistance & Planning Office must comply with this regulation by verifying all information reported on the FAFSA. The Financial Assistance & Planning Office is responsible for collecting pertinent documentation to check the accuracy of information reported. Not all students are selected for this process. The U. S. Department of Education randomly selects students during the processing of the FAFSA. The Financial Assistance & Planning Office must select students whose Student Aid Report (SAR) reflect assumptions that made it impossible for the U. S. Department of Education to calculate an EFC. A selected student will be notified by the Financial Assistance & Planning Office through a written request for information and/or on the SAR. If a student fails to complete the process or fails to provide the necessary documentation the student will not be eligible for a federal Pell Grant, SEOG, Federal Work Study, or a subsidized Direct loan.

If you are selected for verification, the documents required are as follows:

For a Dependent Student

• Completion of the Dependent Verification Worksheet with student and a parent’s signatures

• A signed complete copy of the student’s Federal Income Tax Return with all supporting schedules for the year in question

• A signed complete copy of the parent(s)’ Federal Income Tax Return with all supporting schedules for the year in question

• Any other verification forms provided by the Financial Assistance & Planning Office such as asset verification forms, medical expense forms, household size verification forms, etc.

For an Independent Student

• Completion of the Independent Verification Worksheet with the student’s signature and spouse’s signature, if applicable

• A signed complete copy of the student’s Federal Income Tax Return with all supporting schedules for the year in question

• Any other verification forms provided by the Financial Aid Office such as asset verification forms, medical expense forms, household size verification forms, etc.

After all requested information is submitted, FAFSA application data will be verified. If all of the information is accurate or within federally approved tolerances, any and all federal financial aid will be credited to the student account. If corrections are required, the Financial Assistance & Planning Office will correct the data electronically.