New for 2016-17
If you wish to receive the financial aid you’ve been offered, you MUST accept those awards in order for the funds to be disbursed to your account. If you do not wish to receive the financial aid you’ve been offered, you should decline the awards. In order to accept your awards on eServices, you must first Consent to Electronic communications and respond to the Title IV questions.
March 1, 2016 is the FAFSA Priority Filing Date for the 2016-2017 academic year. Filing the FAFSA on the web at http://www.fafsa.ed.gov/ is faster and more accurate than filing a paper application.
The U.S. Department of Education has launched a new College Scorecard tool that provides the clearest, most accessible, and reliable national data on college cost, graduation, debt, and post-college earnings.
The Financial Aid Office at Virginia Commonwealth University seeks to assist students and their families, so that any qualified student who desires to pursue an education at VCU may do so without the hindrance of financial barriers. We support enrollment and retention by identifying resources and educating parents and students so that they may make sound financial decisions. Each year, more than $270 million in student aid is disbursed to more than 18,000 students.
In responding to the diverse and changing needs of the university community, a spirit of cooperation, innovation and fairness will be maintained. The Office of Financial Aid at VCU is committed to providing exemplary service in the most effective and efficient way possible to support the needs of our students and university community, delivering funds in a timely and equitable manner and acting with fiscal responsibility and following federal, state and institutional policies and regulations in the administration of student financial aid.
All staff of the Financial Aid Office at Virginia Commonwealth University adhere to the Code of Conduct of the National Association of Student Financial Aid Administrators.
The U.S. Department of Education Central Processing System selects the applications that are to be verified. VCU’s Office of Financial Aid has contracted with Financial Aid Services (FAS) to help you and your family complete the verification of your Free Application for Federal Student Aid (FAFSA).
FAS will be contacting you directly to request the data needed to complete the required verification if you are selected. Federal Funds cannot be disbursed to a student until this verification process has been completed. Once you have completed the process, FAS will then produce the required documents and forward them to the VCU Office of Financial Aid for processing.
VCU’s Office of Financial Aid also may be requesting other documents from you. You will need to send those documents and the appropriate forms directly to the VCU Office of Financial Aid. The VCU Office of Financial Aid forms are available on the forms page.
Title IV School Code
Virginia Commonwealth University
Students who receive a Federal Title IV Grant or loan assistance and withdraw from VCU before completing 60% of the semester must have their eligibility recalculated based on the Federal Return of Title IV Funds formula.
This formula recalculates a student’s eligibility based on the aid the student has “earned” (number of days enrolled/attended prior to withdrawal). Any unearned aid must be returned to the appropriate Title IV program(s) and the students must pay all or a portion of the funds that were disbursed to their accounts. They also may be responsible for all or a portion of the charges that were previously paid by financial aid.
If a student does not officially withdraw from all classes but fails to earn a passing grade in at least one course, federal aid regulations require that we assume the student has “unofficially withdrawn,” unless it can be documented that the student completed the enrollment period. Unofficial withdrawals require a Title IV refund calculation at the midpoint of the enrollment period.
Certain programs have limited funding so there are more students eligible than there are funds available. As a result, these funds are awarded on a first-come, first-served basis.
Students should file their FAFSA as early as possible and reply to requests for information promptly to ensure consideration for this type of funding.
Students should apply for aid even if they missed the priority filing date because they may still qualify for the Federal Pell Grant or Federal Direct Loans. If students have not applied in a timely manner, they may want to participate in the Installment Payment Plan.