Students can receive federal funding up to duration of eligibility, which is up to 150% of the time the program usually requires for completion.
Eligibility
Students seeking financial aid assistance must meet the following conditions to be eligible for most financial aid programs:
- Be a U.S. citizen or permanent resident.
- Be a high school graduate or have successfully completed the GED certificate.
- Complete and submit a free FAFSA online.
or download, print, and submit completed application to the financial aid office. - Meet the admission requirements of the College and be admitted as a regular student.
- Be admitted to an approved degree or certificate program totaling 30 credits or more.
- Be enrolled in courses each semester in the approved program of study or approved remedial preparation courses for that program of study.
- Be in good academic standing according to the College’s Standards of Academic Progress Policy.
- Apply every year for Federal Financial Aid.
Maintaining Eligibility
The U.S. Department of Education requires students to maintain satisfactory academic progress toward their degree or certificate to be eligible for financial aid. All semesters are reviewed and included in standards defining academic progress.
Payment of Financial Aid
Financial aid will not be released to students prior to the first day of instruction.
Federal aid is divided into two disbursements each semester. The first disbursement occurs after the semester drop deadline and the final disbursement is four weeks later. The institution releases any excess funds as soon as possible, but no later than 45 days after the final disbursement.
Scholarships are a single disbursement and are applied with the final disbursement date of the semester.
Excess financial aid will not be released to students until/unless:
- Students are enrolled in the number of credits required by the scholarship grant.
- Attendance has been verified.
- All educational expenses have been paid before any remaining balance can be released to the student.
Financial aid is applied to the students’ accounts in the following order:
- Federal Aid (Pell and FSEOG)
- Scholarships
- Tuition Waivers
Appointments are available for additional information or assistance. The Financial Aid Office can be reached at 907- 852-1708 or by email at fin.aid@ilisagvik.edu.
Repayment of Title IV Funds
Students may be responsible for the repayment of financial aid they receive if they withdraw from classes during the semester causing their enrollment status to change. The amount of a refund, repayment or return of federal aid is based on the U.S. Department of Education regulations (R2T4 worksheet) concerning return of federal financial aid. If a student receives an excess refund or a repayment is determined to be necessary, then, per college policy, the repayment amount will be posted to the student’s account and charged to the student within 30 days. Funds will be returned following the Department of Education R2T4 Section 6. Students receiving financial aid are encouraged to meet with their academic advisor and with the Financial Aid Administrator before making the decision to withdraw from classes.