Financial Aid Application Process

This is an overview of the financial aid process at New River Community and Technical College. Please read this information carefully. This information is a guide for the financial aid application process to help you determine the status of your financial aid paperwork, and to assist you in asking questions about the status of your financial aid. It is also a good idea to begin a folder to keep all of your financial aid documentation.

Financial Aid Application Process

Step 1 – Application

• Complete the FAFSA online at www.studentaid.gov.
• Include New River CTC’s school code 039603 on your FAFSA.
  • To complete the FAFSA you will need your and your parents’ (if applicable) social security numbers
  • Your and your parents’ (if applicable) income information
  • If applying on-line, be sure to sign your application electronically using your FSA ID.
• Be sure to print a copy of your Submission Confirmation before exiting.

Step 2 – SAR Review

Step 3 – Verification

• The Financial Office receives your FAFSA electronically.
• Next, you will receive an email at the email to the email address you submitted on your FAFSA.
• This email will confirm that we received your FAFSA and if selected for verification, the email will tell you what documentation you need to submit to the financial aid office.
• Please supply the requested material promptly in order to speed up the processing of your financial aid.
• If you do not receive an email from the Financial Aid Office within 1-2 weeks after receiving your SAR, please contact a Financial Aid Representative.

Students wishing to receive a Student Loan

• • Students who wish to receive student loans must request the loan by completing the Student Loan Application.  The application is on the Financial Aid Forms page.
    • Submit the application and attachments requested on the application, to Financial Aid.
  • If the student is eligible for the loan, it will offered.
  • The Financial Aid Counselor will contact the student by New River e-mail or phone to arrange for the completion of a Loan Eligibility Information form and Financial Literacy counseling.
    • Before a student loan can pay to your account, first time borrowers, transfer students, and students that have had a break in enrollment at New River and are now returning, will need to complete Entrance Counseling at www.studentaid.gov/entrance-counseling/.(Please Note:  Under Federal guidelines, all first time borrowers will have a 30 day hold on their loan from the first day of class.  If you are borrowing for only one term, the loan will require 2 disbursements.  The second disbursement will be at midterm.)
    • First time borrowers will also need to sign a Master Promissory Note at www.studentaid.gov. (Please wait 24 – 48 hours after completing the Loan Eligibility Information form to complete the Master Promissory Note.) This promissory note is valid for ten academic years.

Step 4 – Award

• After returning the requested verification information to the Financial Aid Office, you should receive an Award Notification by email.
• If you do not receive your award notification within 2-4 weeks, inquire with the Financial Aid Office.
• Once you receive your award notification, review it carefully and read the accompanying material.
• Return your completed award letter to Financial Aid.

Step 5 – Payment

• After you register for classes, you will receive a Billing Invoice.  Be sure to follow the directions on your invoice.
• If you have a positive balance on your billing invoice, you will need to make payment arrangements or inquire about the status of your financial aid.
• If you have a negative balance, this indicates that you will be receiving a financial aid refund check, which is financial aid that is leftover after your bill is paid.
• Notice:  You must contact the Business Office regarding your bill, no matter what your balance is.

Reminder:  You must reapply for financial aid yearly. The FAFSA is available for renewal each October 1st.