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.
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.
Last Day to file 2013-14 FAFSA (Summer Classes)
The last day for 2013-2014 FAFSAs to be accepted by the Department of Education processors is Monday, June 30.
Higher Education Tax Benefits
The federal government provides a number of tax incentives that can help lower the cost of higher education. These incentives include:
- Tax credits directly reduce the amount of tax you pay.
- Tax deductions reduce the amount of your income that is taxed.
You may qualify for more than one of these incentives, but there are some restrictions. It’s a good idea to calculate your taxes multiple ways to find the maximum benefits available to you. Please download and review the Higher Ed Tax Benefits Presentation for additional information.
2014-15 Scholarship Award Notifications
The NVCC Educational Foundation has competed the selection process for the 2014-2015 scholarship recipients. All recipients of these awards will receive notification of their awards through their vccs e-mail. Please check your vccs email to see if you have been selected for one of these award and promptly return the acceptance letter to the Foundation.
Anticipated Aid Function
NOVA Financial Aid is excited to announce the activation of the “Anticipated Aid based on Actual Enrollment” function within the Student Information System (SIS). This functionality will allow you, the student, to have a better understanding of what your actual financial aid award will be based on your enrollment at the time of calculation.
Please note the following:
- Enrolled students with financial aid awards will be able to view/calculate their anticipated financial aid based on their current enrollment
- Students with loan only awards and enrolled less than half-time will not see their anticipated aid amount since loans required students to enroll at least half-time (6 credits)
- Students who do not have enough anticipated aid to cover tuition and fee charges, have a balance of $30.00 or more, and have no other payment arrangements, will likely be dropped from their class(es).
Please continue to monitor your To Do List for requested documents and information. Remember, it is your responsibility to drop any class you do not plan to attend and to pay any outstanding balances as soon as possible. If there is a difference between your awarded aid and your balance due, you are responsible to make that payment or your classes may be dropped.
Spring Bookstore Purchase
Students with pending financial aid can purchase books against their excess financial aid beginning two weeks prior to the start of classes and continue through the term census date. Students must sign a statement allowing the charges and must purchase all desired and required books/materials by census date. 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 two weeks 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.
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.