frequently asked questions

How do I apply for financial aid?
Am I required to report my parents' information on the FAFSA?
What if my financial situation has changed and will affect my ability to pay for college?
What types of financial aid are available at CVA?
How is financial need determined?
What does the EFC mean?
How will I be notified of my financial aid award?
How will I receive my financial aid?

How do I apply for financial aid?

Complete the Free Application for Student Financial Aid (FAFSA) and the CVA Financial Aid Application. Paper versions of both applications are also available in the CVA Financial Aid Office. To continue receiving financial aid, students are required to reapply each year. The re-application deadline is April 15.

Am I required to report my parents’ information on the FAFSA?

You are required to report parent information if you do not meet one of the following criteria:

• You are/will be 24 years of age or older by December 31 of the year you are applying for  aid
• You have at least one bachelor’s degree and are working on a master’s or doctorate program
• You are married
• You have children or other dependents that receive more than half of their support from you
• Both parents are deceased, or until the age of 18 you were a ward/dependent of the court
• You are a veteran of the U.S. Armed Forces
• You are/were an emanicipated minor
• You have been determined to be an unaccompanied youth who is homeless or at risk of being homeless

If you are unsure of your status or have extenuating circumstances, please contact the Financial Aid Office.

What if my financial situation has changed and will affect my ability to pay for college?

If your income has decreased by a significant amount from the previous year or if you have unexpected circumstances you may complete an appeal form. The appeal form is available on the Financial Aid Forms and Resources page.

What types of financial aid are available at CVA?

CVA offers federal, state, and institutional assistance to those who qualify. Types of financial aid are grants, scholarships, work-study, student loans, and a loan for parents. Students at CVA usually receive a combination of aid depending upon financial need.

How is financial need determined?

Financial need is determined from the results of your FAFSA. The formula used to determine need is the cost of attendance (tuition, fees, books, supplies, living/personal expenses) minus the Expected Family Contribution (EFC) equals financial need. Once the financial need is determined, the Financial Aid Office will know what types and the amount of aid to offer.

What does the EFC mean?

The Expected Family Contribution (EFC) is the result of a federal calculation that takes into account many factors, such as household income, assets, number in household and the number in college. The result of this calculation, the EFC, is an index number used to determine financial need and eligibility for most sources of financial aid. Your EFC is reported on your Student Aid Report (SAR).

How will I be notified of my financial aid award?

An eligibility notice will be mailed to you detailing the type and amount of assistance you are eligible to receive. At that time, you will have the option to refuse and/or ask for adjustments to all or a portion of your aid award. Estimated billing information will also be enclosed with the notice of aid.   Awards are typically released within 2 weeks of FAFSA filing date, starting on March 1.

How will I receive my financial aid?

Financial aid is disbursed to your student account on a semester basis.  If the application of aid results in a credit balance , a refund check will be generated by the CVA Business Office after the six day drop/add period.