Financial Aid FAQ's
- How do I apply for financial aid?
- What is financial aid?
- When are Financial Aid applications available?
- What is your deadline?
- What is your school code, address and fax number?
- Why do I have to provide parental information?
- What if I do not meet any of the definitions above AND my parents do not support me?
- What happens after I apply?
- What is an "aid package"?
- When is my refund check available?
- When can I pick up my loan check?
- If I withdraw from my classes, will I be required to repay the funds I have received?
- If I am on financial aid probation, can I receive any Awards?
- Do I have to apply for financial aid each year?
- Students who applied for financial aid in the current year will receive a Renewal Free Application for Federal Student Aid (FAFSA) reminder during January or February.
- How do I get a student job?
- What if my financial situation changes?
How do I apply for financial aid?
You must complete a Free Application for Federal Student Aid (FAFSA) to be considered for federal, state, and institutional funds that we award. Information regarding applications is available at each of the four colleges (FCC, LTC, OCC, & WVC). The application may be filed online at http://www.fafsa.gov . Online applications are returned in 7-10 days. Applications filed by regular mail are returned in 2-3 weeks.
What is financial aid?
Financial aid is money/resources provided to help bridge the gap between your own resources and the amount needed to pay for the cost of attending college. The primary responsibility for meeting the cost of college rests with the student and family to the extent that they are able to pay. A formula established by the U.S. Congress and written in law takes into account your family income and assets.
When are Financial Aid applications available?
Applications are available the first working day of the new year in January for the upcoming academic year. Current year applications are available on an ongoing basis.
What is your deadline?
We highly recommend that you complete and submit all documents as soon as possible after your taxes are filed to ensure that funds are available on the first day of instruction. Our office will receive the results from the Free Application for Federal Student Aid (FAFSA), but remember to allow time for the processing of the application. However, the office continues to process applications until funds are depleted or the academic year has ended. Funds are limited, so apply early.
What is your school code, address and fax number?
Frontier Community College 014090
2 Frontier Drive
Fairfield , IL 62837-2601
Coordinator of Financial Aid - Lori Noe
Lincoln Trail College 009786
11220 State Highway 1
Robinson , IL 62454-5707
Coordinator of Financial Aid - Aaron White
Olney Central College 001742
305 N. West St .
Olney , IL 62450-2699
Coordinator of Financial Aid - Vicki Stuckey
Wabash Valley College 001779
2200 College Dr .
Mt. Carmel , IL 62863-2699
Financial Aid Coordinator - Mary Johnson
Why do I have to provide parental information?
Parent information is used because the U.S. Congress has said that families have the primary responsibility of funding a college education. Parent information is not necessary if you are independent.
Please refer to the dependency questions on the FAFSA form to determine your status.
What if I do not meet any of the definitions above AND my parents do not support me?
You are not automatically independent for financial aid purposes simply because your parents stop claiming you as a tax exemption or refuse to give you support for your college education. Unwillingness, inability, or reluctance of parents to help pay for your educational costs and/or qualifying for in-state tuition do not make you independent by federal law.
The Financial Aid Office may make allowances for students to be independent if they can demonstrate extenuating family circumstances on a case by case basis. You must make an appointment with one of our financial aid specialists to discuss your circumstances.
What happens after I apply?
You have the responsibility to follow up on your aid package. You should receive a Student Aid Report (SAR) from the federal processor when they have completed processing your FAFSA. When you receive your copy of the SAR, we will have received it electronically provided that you listed our school code on your application.
After reviewing your electronic SAR, we will send you a request for additional information or forms to complete. You should submit all completed forms to our office as soon as possible.
When we have completed the review process with all the requested documents on file, you will be mailed an award letter indicating the aid you are eligible to receive.
What is an "aid package"?
When you apply for financial aid, you do not have to apply for a particular type or amount of aid. Aid applicants are automatically considered for all available aid programs administered by our office. One or more types of aid are usually awarded in combination to make up a student's financial aid package. Students who receive scholarships from outside agencies or through their departments must inform our office and these scholarships will be included as a part of their financial aid package. You will need to make an appointment with the Financial Aid Office to apply for a loan.
When can I pick up my loan check?
William D Ford Federal Direct Loan checks are issued no earlier than 30 days into the semester. You will be notified when the check is available for you to pick up at the Business Office.
If I withdraw from my classes, will I be required to repay the funds I received?
Enrollment changes can have a significant impact on your current financial aid awards as well as your future financial aid eligibility. Your tuition and fees may be adjusted whenever you add, drop or withdraw based on the IECC Refund Policy. You should refer to the catalog for more details. As a result of dropping or withdrawing from your classes, your financial aid may be reduced, or in some cases, canceled. Also, these dropped or withdrawn classes are counted in determining your future financial aid eligibility through the Academic Satisfactory Progress Policy. For additional information, contact the Financial Aid Office prior to dropping or withdrawing from your classes.
Students who applied for financial aid in the current year will receive a Renewal Free Application for Federal Student Aid (FAFSA) reminder during January or February.
Students who are renewal-eligible and who qualify for reminders will be sent Renewal Reminder notifications. Eligible students who provided e-mail addresses on their current record will receive Renewal Reminder e-mails. Renewal–eligible students whose records do not have e-mail addresses with valid syntax, or whose Renewal Reminder e-mails are returned as undeliverable, will be mailed Renewal Reminder letters, provided there is a deliverable mailing address.
How do I get a student job?
Federal Work Study funds are limited and awarded on a first come, first serve basis. If FWS appears on your award letter, you should contact the Financial Aid Office for placement.
What if my financial situation changes?
If you or your parents (for dependent students) experience a change in financial situation, you can request that the Financial Aid Office reevaluate your aid eligibility. You will be asked to complete a Special Circumstances Form describing the change and to provide some form of substantiating documentation. Common situations that are considered include loss of employment, reduction in income, unreimbursed medical/dental expenses, divorce and death.