We at Texarkana College realize that providing financial assistance to students and families is a critical component for providing access to education and job training. Our website provides valuable information in understanding the financial aid process. We encourage you to take advantage of the information provided. Financial Aid is full of deadlines, criteria, and other requirements that will affect when and if you receive funding. Therefore, we highly recommend that you learn about the process and become an informed student. The more you know, the smoother the process will be.
Have a great semester!
Martin R. Hernandez
Director of Financial Aid
Meet the deadlines:
All required documents including your FAFSA application, tax transcripts (if required), and other documents requested by the financial aid office must be received by the following priority deadlines:
|Summer 2014 (Workforce)||May 2, 2014|
|Summer I 2014 (Academic)||May 9, 2014|
|Summer II 2014 (Academic)||June 13, 2014|
|Fall 2014 (Academic and Workforce)||July 25, 2014|
|14 Week Fall 2014 (Classes Begin 9/8/14)||August 8, 2014|
|Spring 2015 (Workforce)||December 12, 2014|
|Spring 2015 (Academic)||December 18, 2014|
|14 Week Spring 2015 (Classes Begin 2/2/15)||December 18, 2014|
If you complete your FAFSA and turn in all requested documentation before the priority date, we will have your financial aid file completed and ready to pay for tuition, fees, room and board, books, etc. when bills are due. While FAFSA applications and other paperwork will be accepted after these dates, failure to meet these priority deadlines could result in your aid not being ready to pay your bill by the payment deadline. This means you must make other payment arrangements with the TC Business Office to avoid losing your classes for non-payment.
Simply completing the FAFSA by the deadline is NOT considered a complete file because there may be more information required beyond the FAFSA application.
Check for missing documents:
The federal government selects about half of FAFSA applications for a process called “verification” in which colleges must confirm (verify) the self-reported information you provided on the FAFSA. To check for missing documents for the 2014-2015 (Fall) FAFSA, you should log in to the new Texarkana College Online Financial Aid System.
First-time users should enter their Social Security Number as the Student ID. Then, click the small-print “First Time User” text below (on the picture, circled with a red arrow pointing toward it). You will then be asked to enter some security questions and create a PIN (password) to log in. Once you are logged in to the Financial Aid System, click on the green “Documents” tab near the top of the screen. This will show you the documents we have received, as well as any documents you might still need to turn in.
Please note that this new system only pertains to the new school year beginning in August. Current students attending in Summer 2013 will find all 2013-2014 financial aid information (including any missing documents) in the “Financial Aid” tab of their myTC student account.
Disbursements for Summer 2013-2014
Below are the dates when the Financial Aid Office will begin to release funds for Summer 2014. If there are required documents you have not turned in, then your financial aid award is incomplete, and your particular funds will not disburse. Please note that “disbursement” is not the date you will receive a refund; it is when the money will be applied to your student account (your bill) to reduce or zero out the amount owed. Assuming your financial aid award has been finalized, your financial aid should disburse on the dates listed below.
|Summer I||June 17, 2014|
|Workforce Summer||June 11, 2014|
|Summer II||July 22, 2014|
Half-Time requirement for loans
Federal regulations require a half-time enrollment (6 credit hours) to be eligible for a federal direct loan. If you take 3 hours during Summer I and 3 hours during Summer II, you will not reach the 6 hour requirement until Summer II.
Note for one semester only loans
Federal loan programs must always have two disbursements in any one loan period. The loan period is the first day of the semester through the last day of the semester. First installments will occur after the 6th class day. Second installments will occur after the midpoint of the loan period or the after the middle of the semester.
“When should I get my refund?”
Financial aid recipients may be eligible for a refund if the amount of your financial aid award (grants plus loans) is greater than the amount of your bill (tuition, fees, and money spent at the TC Book Store). If you are eligible, the Business Office will process your refund after classes begin. All refunds require 14 days after disbursement date to process. Refunds for most students will be processed through your Higher One accounts. If you change your registration (add and/or drop courses) after your refund was released to you, this may change the amount of your award and cause you to owe some of the refund money back. You will be required to pay the overage balance.
Check your myTC account for the exact date of your disbursement.
Check your Higher One Account for the arrival of your refunds.
Please note the following changes involving the FAFSA and the Verification process:
IRS Data Retrieval – When filling out the FAFSA, Texarkana College strongly recommends all students, parents, spouses (if applicable) upload their income tax information to their FAFSA using the IRS Data Retrieval tool. This will speed the application process and ensure accuracy.
Tax Return Transcript – Students who are selected for Verification and did not/could not use the IRS Data Retrival Tool will be required to submit an official IRS Tax Return Transcript. Tax Transcripts can be obtained from the IRS at www.irs.gov.
Use The Right FAFSA:
You must complete a new FAFSA every school year you apply for financial aid. It is very important that you complete the FAFSA for the year that corresponds to the semester you want to receive financial aid. (Keep in mind that each FAFSA goes by the academic year, which runs from August to August, rather than the January-to-December calendar year.)
If you plan on attending in Summer 2014, complete the FAFSA for 2013-2014.
If you plan on attending in Fall 2014, complete the FAFSA for 2014-2015.
Financial Aid refunds will be issued to your myTC Card from HigherOne.
Financial aid funds are first used to pay your tuition, fees and books. If there are funds left after your tuition, fees and books are paid, you may be eligible to receive the remaining balance in the form of a refund. Refunds are sent to your myTC Card from Higher One. All students will receive the myTC card, whether they are scheduled to receive financial aid or not. This is not a credit card. This debit MasterCard ensures fast delivery of funds through electronic means.
It is important to activate your myTC Card upon receipt in the mail. Activating your card will prevent any delays in receiving any refunds.
For more information, please visit myTCcard.