About your Financial Aid Award
Hopefully you have already reviewed your awards on your MyCamp Student Center in SIS, but if not, please navigate there first to review the “New or Revised Award Notice” in your Message Center at the top of the page to know how to view your awards and determine if you still owe. The information below explains how we determined your award amount, what to do if you want to accept the loan offer, have had financial hardships not reflected in the FAFSA, and important information about attendance that can affect your aid in the future.
1. Eligibility and Need: To determine if you qualify for aid, the Financial Aid Office has to ensure students must meet all federal eligibility requirements, including placement into an eligible program of study at Camp and unmet need. Need is defined as the difference between the cost of attending the college and the total expected family contribution (EFC = parent contribution and/or student's contribution), as determined by the FAFSA.
2. Awarding: After a student has been accepted into an eligible program of study and has demonstrated financial need, the college tries to meet the unmet need with a combination of free federal, state, and local grants that do not need to be repaid. The criteria used for offering all types of student aid involve the computed need of the student, the student's academic standing, and the timeliness of the application. A student loan offer may also be part of the package if the free funds offered are less than $4,500. Even if a student has not been given a loan offer, the student or parent may request a federal student loan using a Direct Loan Request Form.
3. Special Circumstances: If your family has a situation that you do not believe is adequately addressed in your Financial Aid Notification, such as foster care or recent unemployment, we encourage you to contact us directly. If you plan to attend two schools at the same time, please inquire about a Consortium Agreement. Recent Virginia high school graduates please review the State (VGAP) qualifications, and submit a high school transcript to Financial Aid if you qualify.
4. Aid Disbursements and Refunds: Once the Financial Aid Office has received your completed FAFSA and all required documents to complete your file, your aid will be disbursed 40-60 days into the term. After your aid has been disbursed, it can take 3-4 weeks to receive your refund. Students who sign up for Direct Deposit typically receive their funds sooner than the ones that have to be delivered through USPS. Be careful not to count on getting your refund by a certain date to make major purchases or pay other financial obligations. Many different factors can affect the timing of your refund after we process it, and it’s possible your refund may require additional review and take longer. Also, take into consideration the time it takes for your financial institution to post the refund to your account or for mail delivery.
5. Earning the Aid: Even free financial aid must be “earned”, and can be withdrawn after the fact if you do not start attendance on time or stop attending. You must begin attendance in every class by the published refund date in order to establish eligibility. Check the Academic Calendar each semester for this date. Financial Aid works on a "paycheck theory" that the student earns the aid by attending from beginning to end. As long as you successfully complete the semester by passing classes, you have earned the aid.
6. Repayment of Financial Aid: Withdrawing from any class after the initial grace period at the beginning of the term (Last Day to Drop with a Refund) is not advised, as it may cause a recalculation of aid and a debt to the college. If you do not successfully complete the semester either because of an early withdrawal or other non-passing grades, you may owe aid back right away and/or lose future aid. Please contact Financial Aid before you withdraw, to find out how it will affect you.
Please view our updated Financial Aid Handbook for an overview of the Financial Aid Process, including a new section of Frequently Asked Questions.
Thank you for choosing Camp!