Financial Aid


Financial Assistance | Secondary Citizenship | Grants | Federal Loans | Direct Loans | Federal Work Programs |FC Work Program | Scholarships |
Other Forms of Assistance | Leave of Absence | Reestablish Eligibility for Federal Financial Aid |

Federal Financial Aid is available to those who qualify.  The Finance Office at Forrest College assists students in developing a financial plan that will meet their needs.  In accordance to the U.S. Department of Education regulations, Federal Financial Aid must first satisfy the student’s education expenses.

Persons applying for admission to the College should complete their application for federal financial assistance as soon as possible after making application.  Continuing students must reapply for Federal Financial Aid each year by April 1.

Types of Financial Assistance
Forrest College offers three basic categories of financial aid: grants, loans, and employment.  Grants are outright gifts of money, which do not have to be repaid.  Loans are borrowed money that must be repaid with interest and/or fees.  Employment allows students to work and earn money to help pay for educational expenses.  Other sources of financial aid are often available.  Some of these include: Veterans’ Administration benefits, Vocational Rehabilitation benefits and sponsorship by employers,

The amounts and types of financial aid that students may be eligible to receive are determined through federal, state, and local guidelines.

Students should consider all possible sources of grants, loans, and any other forms of financial resources for which they are eligible. It is the student’s responsibility, and he or she is encouraged to search for additional funding to help pay educational expenses.


Eligibility Requirements
To receive Federal Student Aid (Title IV), one must:

  • be enrolled or accepted for enrollment in an approved associate, diploma, or certificate program approved for  participation in Title IV programs
  • be a United States citizen or eligible non-citizen
  • demonstrate financial need
  • not be in default on a Federal Perkins Loan (formerly NDSL), Federal Stafford Loan (formerly GSL), Federal PLUS loan, or Federal Supplemental Loan for Students (SLS) received at any school previously attended, or have been overpaid in the Federal PELL Grant program
  • not owe a refund on a Federal PELL Grant, a Federal Supplemental Educational Opportunity Grant, or a State Student Incentive Grant at any school previously attended
  • make satisfactory academic progress and do not exceed maximum time frame for completion.
  • sign a statement of educational purpose and registration compliance
  • have a high school diploma or GED

To apply for Federal Student Aid, a student must complete:

  1. Apply for a PIN online at to electronically sign a Free Application for Free Student Aid.
  2. Complete a Free Application for Federal Student Aid, FAFSA (for Federal PELL Grants, Federal SEOG, FWS, Federal Perkins and/or Federal Direct Loans) online at .
  3. Complete a Personal Data Sheet.

Federal Financial Aid application packets are available in the College reception area, on-line, as well as in the finance and business offices.

Forrest College has developed the following policies and procedures regarding the verification of information provided by applicants for Federal Student Aid under the Title IV Programs:

  1. Only those students who are selected for verification by the Department of Education will be required to submit supporting documentation.
  2. Only one Federal PELL and/or campus-based award can be disbursed prior to the completion of verification.
  3. The institution prior to the completion of verification may verify a William D. Ford Federal Direct Loan application.  However, students have only 45 days from the time the loan disbursement arrives to the institution’s bank to provide the necessary documentation.  If not completed by that time, the loan disbursement will be returned to the Department of Education.
  4. Students have 45 days after their last day of attendance or the end of the award year, whichever comes first, to complete verification.  In the interim the student must have made arrangements with the College for payment of all tuition and fees due or will risk termination at the option of the College.  After the passage of the aforementioned period, all financial aid that may have been due is forfeited.
  5. All students will be notified immediately if they have been selected for verification and will be informed of the supporting documentation that is required.   Any information supplied by the student to correct inaccurate data on the FAFSA must be submitted for reprocessing immediately.  All Federal Financial Aid will be held until this information is received.
  6. If the student supplies inaccurate information on any application and refuses to correct it after being counseled by the institution, the College must refer this case to the Department of Education for resolution.  Unless required by the Department of Education, no Federal Financial Aid will be disbursed to the student.

Secondary Citizenship Confirmation Procedure
In accordance with Federal Regulations published on January 7, 1993, Forrest College follows the following procedures relative to the secondary citizenship confirmation process for Title IV financial aid applicants who have indicated that they are eligible non-citizens or permanent residents of the United States.  If the primary confirmation process documentation does not confirm eligible Title IV applicant status and the student submits reasonable evidence of eligible status, the College will initiate a procedure to make a second attempt to confirm citizenship status.  The student will be given a copy of the secondary confirmation status procedures so that they can complete the citizenship confirmation process.

  1. Students have 30 days from the date the institution receives the output document or 30 days from receipt of this document (whichever is later) to submit documentation for consideration of eligible non-citizen status.
  2. Failure to submit the information by the deadline prevents the College from disbursing any Title IV funds or certifying the student as eligible for any Title IV funds.
  3. The College will not make the decision regarding “eligible non-citizen” status without the student having the opportunity to submit documentation supporting a claim of eligibility.
  4. Students must submit documentation of their current immigration status to the Financial Aid Office. This documentation must be official documents from the US Citizenship & Immigration Services (USCIS).  In order to initiate the required process, students must submit USCIS documents which are legible and which demonstrate their current status with USCIS.
  5. The College will initiate secondary confirmation within 10 business days of receiving both output documents and student’s immigration status documents.

Federal PELL Grants were authorized by the Higher Education amendments of 1972 and marked a major change in the concept of student financial aid.  Every undergraduate student enrolled in an eligible associate, diploma, or certificate program and who does not hold a bachelor’s degree and wishes to attend a post secondary institution may apply for this grant.  PELL grants are intended to be the “floor” of a financial aid package and may be combined with any other aid to meet the full cost of education. Note: Applicants who have been convicted of a felony may not be eligible for federal financial aid; this includes drug sale or possession convictions.

The amount of the Federal PELL Grant will depend upon:

  1. The student aid index
  2. The cost of education
  3. The length of enrollment during the academic year
  4. Enrollment status, i.e., full-time or part-time

The Federal Supplemental Educational Opportunity Grant Program (SEOG) provides financial assistance to undergraduate students with exceptional need.  SEOG funds are an outright grant of aid and, therefore, do not have to be repaid.


Federal Loans
The Federal Perkins Loan Program is a low interest loan made to under¬graduate and graduate students who are enrolled on at least a half-time basis and who show need for assistance in meeting their education expenses.  Students may borrow as much as $4000 per award year if they are enrolled in an eligible associate, diploma, or certificate program.  The Perkins Loan has a fixed interest rate of 5% and is awarded by the financial aid administrator to students with exceptional financial need. The student must have completed the Free Application for Federal Student Aid.  The interest on the Perkins Loan is subsidized while the student is in school.  Funds are very limited in this program and students are advised to seek funding through Federal Direct Loans first.

The amount of Perkins will depend upon:

  1. The availability of Federal Perkins Loan funds at the school
  2. The degree of need demonstrated by the student
  3. The amount of other aid received by the student

Students do not make payments on Federal Perkins Loans as long as they are attending school at least half-time, remain in eligible programs, and maintain satisfactory progress.  Students receive a nine-month grace period after graduating, leaving school, or dropping below half-time status.  At the end of the grace period, repayment begins.  Students must pay at least $40 per month.

The student must repay the loan in accordance with the terms agreed upon in the promissory note, the legal document signed at the time the loan is issued.  The student is given a copy of the note and is given the original when the loan is paid in full.  After the grace period has ended and repayment has begun, certain conditions allow the student to go into forbearance and only pay interest on the loan.  For information concerning these conditions, please consult the Finance Office or refer to the terms listed in the promissory note.  Note: A forbearance is not automatic; a student must apply for it.  Forms are available upon request at the College as well as through the loan servicer.

Deferment may also be granted for extraordinary circumstances such as prolonged unemployment or illness; however, interest on the loan will continue to accrue.  Note:  A deferment is not automatic; a student must apply for it.  Forms are available upon request at the College as well as through the loan servicer.

There are certain conditions that allow a student’s Federal Perkins Loan to be canceled, i.e., death, total and permanent disability, teaching in certain programs and other duties in other areas of the country, service in selected specialties of the U.S. Army, the Peace Corps, or VISTA.  Additional information concerning loan cancellation is located on the student’s promissory note forms.

Students who do not repay their loan(s) in accordance with the terms agreed upon in the promissory note may go into default, and the College can require immediate repayment of the entire loan amount including interest and penalty charges.  The College will cooperate with all borrowers in any way possible; however, late payments and other types of neglect, i.e. failure to report an address change or to submit forms on time, could result in action by a collection agency. This would impair credit, impair relations with the College, and cause personal embarrassment.  The College may take legal action against the student in order to collect the loan and can ask for help from the Federal Government in collecting.

Students who are in default on any loan received at Forrest College or any other college will not be admitted or allowed to re-enter Forrest College until the loan is no longer in default.

All questions concerning your Federal Perkins Loan should be addressed to our servicer, Educational Funding Resources, Inc. (EFR), at 800-798-7503.  EFR will be contacting you quarterly during your 9 month Grace Period to keep you informed of your first payment date.

The William D. Ford Federal Direct Loans (Direct Loans) are made through the U.S. Department of Education. The Federal Direct loan Program includes the following loans:

  • Direct Subsidized loans,
  • Direct Unsubsidized Loans.

The two types of Federal Direct Loans are the most common Federal loans used by Forrest College students:  subsidized and unsubsidized.  The subsidized Federal Direct Loan is based on need.   If you qualify, the government pays the interest due on your subsidized loans while you are in school and during grace and deferment periods. You are responsible for the interest that accrues on your subsidized loan during repayment and forbearance periods.  The unsubsidized Federal Direct loan is not based on need.  You are responsible for all interest that accrues on your unsubsidized loans.

These low interest loans are provided through the U.S. Department of Education. Undergraduate and graduate students who are enrolled at least half-time are eligible to apply for the Federal Direct Loan Program.  Prior to awarding Direct Loan disbursements, the College must certify students’ Federal Stafford Loan applications (MPN), indicating the cost of education, academic standing, and any other aid that students will receive.

You are subject to the limits on the amount you may borrow based on the following:

  • Your academic level (freshman, sophomore, etc.),
  • Your status as a dependent student or independent student,
  • The length of the academic program in which you are enrolled
  • The length of the remainder of your undergraduate program of study if it is less than one academic year and
  • As otherwise authorized by the Higher Education Act
  • The amount you have previously borrowed
  • The cost of attendance

A Free Application for Federal Student Aid (FAFSA) is completed to help determine the amounts students may borrow under the Federal Direct Loan Program.

First year dependant undergraduates may borrow up to $3500 a year.  Second year students may borrow up to $4,500 a year.  The Department of Education charges an “origination fee” of up to 2% for Direct loans and 3% for PLUS loans, which is deducted proportionately from each loan disbursement the student receives.
Students receive a six-month grace period after they graduate, leave the College, or drop below half-time credit hour load.  Repayment begins at the end of the grace period.  The minimum payment available is $50 per month with a standard loan term of 10 years (there is no minimum loan term)

When students leave the College, they must contact the Department of Education to establish a repayment schedule.  The amount of the payments depends on how much the student has borrowed and the amount of time allowed for repayment and whether or not the borrower chooses a lower payment option.

After the grace period has ended and repayment has begun, certain conditions allow students to defer repayment.  Interest will accumulate during any deferment period; however, the federal government will pay the interest on the subsidized portion of the borrowers’ loans.  Please consult the Finance Office for information concerning these conditions.  Students must contact the Direct Loan Servicing Center (website: and after March 2010, )  to apply for deferments.  Deferments are not automatic.  Students whose loans are in default are not eligible for deferment.

Students may request forbearance if they are willing but unable to meet their repayment schedule and are not eligible for deferment.  The Department of Education does not have to grant forbearance and students should note that interest will accrue on all loan types during periods of forbearance.

A Federal Direct Loan may be canceled if a student dies or becomes totally and permanently disabled after receiving the loan.  The disability must be adequately documented by a physician and all documentation must be presented to the Department of Education.

Students who do not repay their loans in accordance with the terms agreed upon in the promissory note will be in default, and the state guarantee agency or federal government may, garnish wages, withhold tax refunds or take legal action to collect.  Default will also affect the borrowers’ credit, and prevent them from participating in future federal financial aid.


Parent Loans for Undergraduate Students Direct (PLUS) are federal loans available to parents of dependent undergraduate students to help finance their child’s education.  This loan type is for natural or adoptive parents or stepparents (in some cases) of eligible dependent undergraduate students and eligible graduate or professional students themselves enrolled at least half-time to finance their own education.  The yearly limit on a Direct PLUS Loan is equal to your cost of attendance minus any other financial aid you receive. If your cost of attendance is $6,000, for example, and you receive $4,000 in other financial aid, your parents can borrow up to $2,000.
For a Direct PLUS Loan, your parents must complete an electronic Direct PLUS Loan application and promissory note that your parents will be required to pass a credit check. If your parents don’t pass the credit check, they might still be able to receive a loan if someone, such as a relative or friend who is able to pass the credit check, agrees to endorse the loan. An endorser promises to repay the loan if your parents fail to do so. Your parents might also qualify for a loan without passing the credit check if they can demonstrate that extenuating circumstances exist. You and your parents must also meet other general eligibility requirements for federal student financial aid.

Federal Work Program
The Federal Work-Study Program (FWS) is a federally funded program that was established by Congress under the Economic Opportunity Act of 1964 and is under the authority of the Higher Education Act of 1965, as amended.

The Federal Work-Study program provides jobs to graduate and undergraduate students who need financial aid to assist them in meeting the expenses for their education.

The College will assign jobs on and off campus with public or private organizations.  The College will take into consideration an applicant’s financial need, class schedule, and academic progress prior to arranging a job and assigning a work schedule.  The hourly salary will be at least the current minimum wage.

The amount of the Federal Work-Study award will depend upon:

  • The amount of other federal aid received by the student
  • The availability of Federal Work-Study funds at the College
  • The degree of need demonstrated
  • The availability of jobs and the student’s class schedule

The eligibility requirements for Federal Work-Study are the same as those identified for the other Title IV programs.

Seven percent of FWS funds must be spent in community service, such as activities at Headstart and the Literacy Program or Community Civic Organizations. Students must maintain satisfactory academic progress.


FC Student Employment Program
In certain cases, a student may be selected for the Forrest College Student Employment Program.  Students are selected for the program according to their skills, curriculum, class schedule, and the College’s par¬ticular needs.  Financial need is not a necessary prerequisite. Students in this employment program must maintain satisfactory progress in order to remain employed.

Private Source Scholarships: Scholarships, loans, and grant-in-aid programs may be available from private sources such as fraternal groups, churches, societies, and clubs.  Students may obtain information about these scholarships by contacting the guidance departments of their high schools or by writing to local chapters of the organizations themselves.

Other Forms of Financial Assistance

GI Bills for Veterans: The Veterans Administration, under the provisions of Title 38, U.S.C., commonly referred to as the “GI Bill,” provides educational assistance programs for veterans, some personnel who are currently in the armed services, and disabled veterans.  Eligibility requirements, benefits, and time limits vary for the different programs.  Students should contact the Veterans’ Counselor or local Veterans Administration Regional Office for further details or by visiting, and select Veteran Services, then GI Bill.

GI Bill for Veterans’ Dependents: The Veterans Administration, under the provisions of the GI Bill, also provides educational assistance to a veteran’s spouse or dependent children. This assistance is also available to surviving spouses or surviving dependent children.  The veteran must be either deceased or permanently disabled as a result of a service-connected disability. Other eligibility requirements and time limits apply to this program.  Students should contact the Veterans’ Counselor or a local Veterans Administration Regional Office for further details.

Students who receive veterans’ benefits are subject to special rules set by the governmental agency with regard to academic probation and course withdrawal.  Recipients of veterans’ benefits that are on probation may not be certified beyond two quarters without an improvement in his/her academic standing.

National Guard Federal Tuition Assistance (FTA): This program is available to National Guard members that are in a satisfactory drilling status.  It pays for the first associate, bachelor, masters, or first professional degree.  It can also be used for certificate and licensing programs.  It pays up to $250 per credit hour up to a maximum per fiscal year (October – September) of $4,500.00.  Students must apply for FTA assistance each time a new course starts at the website.

Military Tuition Overview: Veterans and active duty military (including reserve and guard units) are eligible for a 30 percent reduction in tuition. Spouses and qualified dependents receive a 15 percent reduction in tuition.
Vocational Rehabilitation: This program is operated to assist disabled individuals in preparing for or returning to productive activity.  Vocational Rehabilitation Offices can provide funding for training, personal counseling, and other services.  These services may be provided to people who have physical or mental disabilities that can be considered handicaps to employment. Services to eligible individuals are provided by state agencies for vocational rehabilitation.  Further information may be obtained by contacting the local office of the State Vocational Rehabilitation Agency.

Employer Sponsorship: Many employers provide educational benefits to their employees.  For further information, contact the personnel office where you work.  Most educational reimbursements from employers are made after the student satisfactorily completes the course(s).  Payment is usually made to the student and therefore, students using employer sponsorship must make payment to the College in advance of taking a course(s) unless other arrangements are made with the College.

Trade Assistance Act (WIA-TAA): The Trade Act of 1974, amended in 2002, created a program of Trade Adjustment Assistance to provide re-employment services and benefits to trade-affected workers. Workers who lose their jobs as a result of increased foreign imports or a shift in production to foreign countries that are party to Free Trade Agreements with the United States are considered primarily affected workers and may be eligible for TAA.

Secondarily affected workers may also be eligible for TAA. These are workers whose employment is affected because they worked with a firm that either produced and supplied component parts or performed final assembly or finishing for articles produced by a firm where a group of workers was certified for TAA benefits.

North American Free Trade Act Assistance (WIA-NAFTAA): While the NAFTA-TAA is generally similar to the existing TAA program, it does differ in several ways. The Governor has a specific role in the new adjustment assistance program targeted to workers who may be displaced because of trade with Canada or Mexico. The Governor’s Representative makes a preliminary investigation and recommendation on the merits of the petition prior to forwarding it to the U.S. Department of Labor. The NAFTA-TAA program requires workers to be enrolled in training to qualify for trade readjustment allowance (TRA) payments, and does not allow the waiver of training requirement when training is not “feasible or appropriate,” which is now available to eligible workers in the regular TAA program.

If there are no suitable jobs in your field, then training would improve your chances of getting a job.  You should discuss your needs and aims with the staff of your local Job Service office to see if you qualify. You will be advised as to the employment outlook for workers with different job skills, the kinds of work best suited to your aptitudes and interests, and the training opportunities that may be available at no cost to you. Your plans may include on-the-job, vocational, or technical training.

If you feel that you may be eligible for funding under these programs, you should contact your local Employment Security Commission office.  Funds may be available on an individual referral basis.  Be specific when you speak with the SCESC Staff Member.  State that you are interested in a training program offered by Forrest College.  The College is a WIA Certified Training Provider.  The College’s Provider Number: 05EPL0201A.  College staff will assist you in this process.
See the admissions or finance office at the College for additional information. You can also visit this web-site:  Once you are at the site, search for Forrest College.
Leave of Abesence
Requests for a leave of absence may not exceed 180 days.  Additional subsequent leaves may be granted for jury duty, military reasons, or circumstances covered under the FMLA of 1993.

A student whose leave of absence request has not been granted will be considered withdrawn.  Students who do not return from leave of absence as scheduled will be considered withdrawn.  Students who are withdrawn due to not returning from an approved leave of absence and have received Federal student loan monies need to be aware that the time taken during the leave of absence will be counted toward their “grace” period.  A program Interruption/Withdrawal Fee is charged to any student who is withdrawn.

Reestablish Eligibility for Federal Finanacial Aid
A student will lose his or her Federal Financial Aid eligibility if he or she does not maintain satisfactory progress.

A student who has been terminated for failing to maintain “satisfactory academic progress” may be reinstated after one quarter by reapplying for admission to the College, retaking courses previously failed or upgrading the skills applicable to the student’s educational objectives, and demonstrating the academic ability to progress satisfactorily in the program.  However a student will not be eligible for Federal Financial Aid during the reinstatement-grading period.  If by the end of that grading period a student achieves a GPA of 2.0 or better he will be considered to be making “satisfactory academic progress” and will be eligible for Financial Aid consideration in subsequent grading periods.