Financial Aid - Current Students
Our scholarships, grants, loans and work-study opportunities can make your college education more affordable than you ever thought possible. Need-based financial aid is not available to international students, although many students can qualify for loans without demonstrating need.
NOVA is now 100% Direct Lending. Loans are money that you or your parents borrow and repay with interest. Education loans are offered at low interest rates and have long repayment terms. Some loans require a demonstration of need, others do not.
Scholarships are awards that do not have to be paid back and are based on student performance and talent. Some scholarships consider financial need when determining eligibility.
Grants are financial awards that are based on demonstration of financial need and do not have to be paid back.
Work-study is a financial aid program that allows eligible students to earn money toward their educational expenses by working a part-time job at one of the NOVA campuses. The work-study program is administered by Campus Work-Study Coordinators and the College Financial Aid Office.
Students must be eligible for federal financial aid, be enrolled in at least 6 credits, and have demonstrated financial need in order to potentially qualify for federal work-study. All work-study awards are contingent on the student’s eligibility, funding, and approval by the NOVA Human Resources Department and the College Financial Aid Office.
Welcome to the Financial Aid Dashboard, where you can log in to view, complete and submit requested financial aid information and/or forms to the NOVA financial aid office.
Check out the latest issue of The Financial Aid Greenback, our quarterly Financial Aid newsletter. This issue we give you additional information on the 150% loan eligibility guidelines, the Financial Aid Pending (FAP) process and fall bookstore purchase authorization e-form. This newsletter is designed to help students and staff members stay up-to-date on the latest and greatest in the world of financial aid.
Bookstore Purchase Authorization E-form for Fall 2014
Students with pending financial aid can purchase books against their excess financial aid beginning online on Aug 6th. Campus bookstore purchases begin on Aug 6th and continue through the term census date, Sept 8th, the end of the book purchase period. Students must complete the Bookstore Authorization E-Form, via the Financial Aid Dashboard, prior to completing their purchase. Students enrolled in distance learning or wishing to make their purchase online must complete and electronically sign the Bookstore Authorization form via the Dashboard prior to your order being processed. Students enrolled or planning to enroll in later starting classes who desire to use their financial aid to purchase books must do so during this purchase period. Students who are awarded after the term census date will not be able to charge bookstore purchases against their undisbursed financial aid award until a second book purchase period opens prior to the second eight-week session.
If you have any questions or concerns, contact the Financial Aid Support Center at 855.323.3199 or your campus financial aid office.
Financial Aid Pending (FAP) Holds
The College Financial Aid Office (CFAO) is working diligently to process all financial aid applications. To prevent classes from being cancelled, we are placing FAP indicators on student accounts that meet the Satisfactory Academic Progress standards and have no debt holds. In addition, the student must meet one of the following criteria:
- The student's "To Do List" on NOVAConnect self-service shows receipt of all required documents (excluding high school diploma), but aid has not yet been awarded
- The student has a loan offered within the last two weeks that is not yet accepted
- A FAFSA correction has been sent to the Central Processor that has not yet come back to NOVA (EC, Electronic Correction, on "To Do List")
- First-year Pathway/Adult Career Pathway students
- First-year GPS students
- Awarded students who need an additional amount to cover tuition and fees
- Students whose EFC’s fall within potential Pell Grant range and who have open checklist item(s) for outstanding documents
- Students with ISIRs in PeopleSoft and incomplete checklists who are registered for classes
The CFAO will award, in the order files are completed, as many files as possible between now and the first day of classes. We will do our best to award your aid, but FAP’s will generally come off at the close of business on Wednesday, August 11, 2014, whether or not you have received an award. Watch your NOVAConnect account. Respond immediately to additional requests for information. Please take the following steps:
- If you don’t see an award by Friday, August 8, 2014, make arrangements to pay your bill until your aid is processed.
- If you are accepting an awarded Perkins or Direct Loan for the first time in recent years at NOVA, you must complete a Master Promissory Note and loan counseling before any money is actually in place and before you can use that money to purchase books or pay your bill. Allow five days for processing the loan after the loan is accepted and paperwork is submitted. FAPs for loans in offered but not accepted status will hold classes for these three+ weeks only.
- Register for all classes for the term before you go to the bookstore; your aid will show as reduced if you are less than full-time. Regardless of when your classes begin, you cannot use financial aid to buy books after September 8, 2014. The first day to charge books for students with enough aid in place is August 6, 2014.
You are responsible for your own registered classes. Drop all fall 2014 registered classes you are not planning to attend. You can be charged for these classes and can even receive failing grades for these classes. A FAP (NVCC Financial Aid Award Pending) will prevent your classes from dropping for non-payment but does not prevent you from dropping classes yourself.
If you withdraw or stop attending before the term is over, whether or not you complete some credits, a portion of your aid will likely have to be returned, resulting in your owing money to NOVA, the Department of Education and/or the Commonwealth. Review the Return to Title IV policy on NOVA’s website.
Who Is Eligible?
To qualify for financial aid, you must:
- Be enrolled in an eligible program of study.
- Maintain satisfactory academic standing.
- Not be in default on a federal educational loan or owe a repayment to a federal grant.
State and federally funded aid programs require:
- U.S. citizenship
- Permanent residency or refugee status
- Virginia residency (state funds only)
- Federal school code for NOVA 003727
Credits for audited courses do not count in any financial aid eligibility calculation. Most courses taken through the Extended Learning Institute may qualify for financial aid eligibility. All financial aid programs require placement in an eligible degree or certificate curriculum.