How does the financial aid awarding process work?
The process measures financial strength and resources against educational expenses while attending FVTC. Financial aid budget expenses include predetermined tuition, fees, room/board, books/supplies, personal expenses and transportation. The government calculates an Expected Family Contribution (EFC) on the Student Aid Report (SAR). The EFC is subtracted from the total expenses. If there is a positive difference, it is considered “financial need.” This is the amount of financial aid for which the student is eligible, if funding is available. A financial aid award letter is sent out once the awarding process is complete. This letter states what amount has been awarded; however, the student must meet all funding requirements to be eligible for the funds awarded. The student can then go to www.fvtc.edu/finaid to view policies, funding requirements, disbursement dates, how to process student loans if awarded, and much more.
