Student Financial Aid
Apply for the Free Application of Federal Student Aid (FAFSA)School Code - 036124Applying for the FAFSA
FAFSA (Free Application of Federal Student Aid)
All students must complete a Free Application of Federal Student Aid (FAFSA) at studentaid.gov.
Creating an FSA ID
- Student: An FSA ID is your account username and password. You need it to sign the FAFSA form online. If you don’t have an FSA ID, you can create an FSA ID online to complete federal student aid tasks. It takes about 10 minutes to create an FSA ID.
- Parent: If you are the parent of a dependent student, you need to create your own FSA ID to sign your child’s FAFSA form online. As a parent, you’ll be able to use your FSA ID right away.
Providing Financial Information
You and your parent(s) (if applicable) will provide financial information. This step is incredibly simple if you use the IRS Data Retrieval Tool (DRT). The IRS DRT allows you to import your IRS tax information into the FAFSA form with just a few clicks. Also, using this tool may reduce the amount of paperwork you need to provide to your school. So, make sure to use it, if you’re eligible.
Valley Grande Institute School Code
School Code: 036124
Types of Federal Financial Aid
Federal Pell Grant
Federal Pell Grant – Federal Pell Grant is a type of grant that provides funds to help pay for school. Pell grants are typically awarded to only undergraduate students who display financial need. Find out more on Federal Pell Grants
Federal Subsidized Loan
Federal Direct Subsidized Loan – A subsidized loan is a type of federal loan offered to undergraduates who demonstrate financial aid. Find out more on Federal Student Loans.
Federal Unsubsidized Loan
Federal Direct Unsubsidized Loan – A Unsubsidized Loan is a type of federal loan offered to both undergraduate and graduate students and is not awarded based on financial need. Find out more on Federal Student Loans
Federal Parent PLUS Loan
Federal Parent PLUS Loan – The Federal Direct Parent PLUS Loan is a federal education loan for parents of dependent undergraduate students. Find out more on Federal Parent PLUS Loans
Federal Direct Loan Limits
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Year
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Dependent Students (except students whose parents are unable to obtain PLUS Loans)
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Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)
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|---|---|---|
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First-Year Undergraduate Annual Loan Limit
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$5,500-No more than $3,500 of this amount may be in subsidized loans.
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$9,500-No more than $3,500 of this amount may be in subsidized loans.
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Second-Year Undergraduate Annual Loan Limit
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$6,500-No more than $4,500 of this amount may be in subsidized loans.
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$10,500-No more than $4,500 of this amount may be in subsidized loans.
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Third Year and Beyond Undergraduate Annual Loan Limit
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$7,500 per year-No more than $5,500 of this amount may be in subsidized loans.
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$12,500-No more than $5,500 of this amount may be in subsidized loans.
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Graduate or Professional Student Annual Loan Limit
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Not Applicable (all graduate and professional degree students are considered independent).
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$20,500 (unsubsidized only).
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Subsidized and Unsubsidized Aggregate Loan Limit
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$31,000-No more than $23,000 of this amount may be in subsidized loans.
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$57,500 for undergraduates-No more than $23,000 of this amount may be in subsidized loans. $138,500 for graduate or professional students-No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study. |
Federal SEOG
A Federal Supplemental Educational Opportunity Grant (FSEOG) is a grant for undergraduate students with exceptional financial need. Students are eligible for up to $1,000 each academic year.
Veterans Educational Benefits
Veterans Educational Benefits – Veterans of the Armed Services are generally eligible for educational benefits from the U.S Department of Veterans Affairs. Find out more on Veterans Educational Benefits
Workforce Innovation & Opportunity Act (WIOA) Program
The Workforce Innovation and Opportunity Act (WIOA) helps people who need jobs. WIOA offers states a range of programs and services. These programs help jobseekers get training, education and support. That way, they will do well in the job market. WIOA also helps connect employers with the trained workers they need. Find out more by visiting – https://www.twc.texas.gov/programs/wioa
Requirements for Federal Loan Borrowers
Entrance Counseling – Entrance counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You’ll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default. Complete your entrance counseling at https://studentaid.gov/entrance-counseling/
Master Promissory Note (MPN) – The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). Complete your MPN at https://studentaid.gov/mpn/
Financial Aid Student Forms
Federal Verification forms
Federal Verification– Verification is the process used to confirm that the data reported on your FAFSA form is accurate. The law states that the verification process must be completed before disbursing Federal Student Aid. We may ask for additional information, if necessary, for clarification. If you have questions about verification, contact the financial aid office as soon as possible so that your financial aid will not be delayed.
2024-2025 Federal Verification Worksheet
2024-2025 Student Non-Filing Statement
2024-2025 Parent Non-Filing Statement
IRS Request for Transcript of Non-Filing (4506-T)
2024-2025 Statement of Identity and Educational Purpose
Special Circumstance Appeal
Some students and their families experience special circumstances that affect their ability to pay for the cost of a college education. If the Free Application for Federal Student Aid (FAFSA) you submitted is no longer an accurate representation of your family’s current financial situation, Student Financial Aid will work with you to find the best options for your circumstances.
However, we cannot guarantee the appeal process will result in additional financial aid. Students must submit a special circumstance appeal form with all required documentation to be considered.
Direct Loan Exit Counseling Guide
You must complete exit counseling when you leave school or drop below half-time enrollment. The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment. You’ll learn about what your federal student loan payments will look like after school. Exit Counselings can be completed at https://studentaid.gov/exit-counseling/
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