Financial Aid Awards
Students will receive an e-mail notification alerting them to log onto their Student Portal when their financial aid is awarded or if additional information is required before their eligibility can be determined. Financial aid awards can be viewed, accepted or declined on a student’s portal account. Students not maintaining financial aid Satisfactory Academic Progress (SAP) may be ineligible for funding through Title IV, HEA programs.
Every year a few students who are eligible for financial aid are randomly selected for verification by the U.S. Department of Education by the FAFSA Central Processing System (CPS). If a student is selected for federal verification, they will be required to complete the verification process for the verification tracking group (V1, V4 and V5) they were placed in to qualify for need-based aid. Students will be notified vial e-mail mail through their student portal of required information. Students/Spouses may be required to submit documentation, such as: IRS Tax Return Transcript, Wage and Income Transcript, Statement of Educational Purpose, High School Completion Status, Household Resources, Child Support Paid, receipt of SNAP benefits and child support paid. After documentation is reviewed, the student will be notified by e-mail if their financial aid award is changed.
Students who are required to complete verification must submit all requested documentation to the Office of Financial Aid within 30 days of the end of the payment period. The Director of Financial Aid may elect to extend this date if a student will still be eligible for aid.
Verification exclusions may be exercised at the discretion of the Director of Financial Aid that will need to be documented due to: death of the student, student is not an aid recipient, student is only eligible for unsubsidized student financial assistance, applicant was verified by another school, or student was selected for verification after ceasing to be enrolled at ARCOM and all (including late) disbursements were made. Documentation may not be required if information reported on FAFSA is believed to be accurate for the spouse of an independent student in certain circumstances. These circumstances for the spouse would be: death, mentally incapacitated, resides in a country other than the United States and can’t be contacted by normal means or can’t be located because the student doesn’t have and is unable to receive their spouse’s contact information.