Financial Aid
Financial Aid Form
TFC requires students seeking financial aid to submit a Free Application for Federal Student Aid (FAFSA) available from a high school guidance office, the TFC Office of Financial Aid, or on-line at www.fafsa.ed.gov . Students need information from the previous year’s U.S. income taxes to complete the FAFSA. Federal and state programs of financial aid use the information provided by the student.
Priority Application Dates
Students should submit the FAFSA to the federal processing center as soon after January 1 as possible for the next academic year. Students must apply every year and list Toccoa Falls College on the FAFSA. The federal school code for TFC is 001596. Non-degree seeking and audit students are not eligible for federal, state, or institutional financial aid.
The TFC priority date for full financial aid consideration for the fall semester is May 1. Students considering enrollment beginning in the spring semester or summer sessions should also complete the necessary steps for financial aid before May 1 of the previous year. However, the TFC priority date for full financial aid consideration for the spring semester is November 1. The Office of Financial Aid considers applications submitted after the priority date as funds are available.
Students and parents should fill out the FAFSA with estimated
information if tax returns are not complete. Students can complete
revisions later; however, updated information may result in changes to
the financial aid award. Early submission places students on the
federal, state, and institutional rosters for priority processing.
Need Analysis
The Federal Processing Center uses the information from the FAFSA in a formula, established by the United States Congress, to calculate the student’s Expected Family Contribution (EFC) toward the student’s education. They send a Student Aid Report (SAR) to the student and each of the colleges listed on the FAFSA. The college then uses the EFC in an equation to determine the student’s financial need. The cost of attendance (tuition, housing, meals, books, etc.) minus the EFC and all financial aid equals the financial need.
Calculation and Notification of Awards
The Office of Financial Aid completes the financial aid award once they determine the student’s financial need. The college notifies the student when an award letter is ready for student confirmation. The award letter indicates the various types of financial aid that the student is eligible to receive. Students must view the award letter online and indicate whether they accept or decline each type of financial aid. Therefore, it is important for students to review the information carefully to understand the exact amount and type of financial aid offered. Incoming students should direct questions to their admissions counselor. Returning students should direct questions to their financial aid counselor.
Verification
Federal regulations require the college to verify information on the FAFSA submitted by the student and parents. Requested information may consist of, but is not limited to, U.S. income tax returns, FIA benefits, Social Security benefits, and business income.
Students that do not complete the verification process by September 30th for the fall semester or February 28th for the spring semester forfeit all federal, state, and institutional financial aid for the semester. This means that these students must bear the full cost of attendance for that semester without any financial aid.
Conformation of Financial Aid Awards
Students confirm the financial aid award when they submit the deposit to the Office of Admissions for incoming students or to the Office of Student Accounts for returning students.
Transfer Students
Transfer students applying for financial aid must ensure that they
submit the results of the FAFSA to the college by May 1. Students
transferring to TFC for the spring semester must ensure that they
submit the results of the FAFSA to the college by November 1. Students
that submitted the FAFSA to the federal processing center without
listing TFC as one of the colleges to receive the results can call
1-800-433-3243 to arrange for the center to send the results to TFC.
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Office of Financial Aid
(706) 886-7299, ext. 5435