There are several things you need to know about your Financial Aid Package Award Letter. First, a determination of your Expected Family Contribution (EFC) is calculated using the information you provided on your FAFSA. The college subtracts your EFC from the Cost of Attendance (COA) to calculate your need for financial aid. The higher the COA, the more aid you will be eligible to receive. This COA, includes direct and indirect college associated costs. Direct cost are the institutional charges paid to Talladega College (tuition, fees and if residing on campus, room and board), and the indirect costs are the federally approved expenses associated with attending Talladega College (books, transportation, personal expenses, housing, and meals). Secondly, your Financial Aid Package is based on you attending college at a full-time status, which is 12 or more credit hours. This usually means you’re enrolled and attending 12 or more credit hours, required for your degree, per semester. Should you elect to take less than 12 credit hours, your COA will be reduced based on this change. Please be advised: The Financial Aid Office reserves the right to adjust your award at any time due to changes in enrollment, your eligibility, your FAFSA information, or the availability of funds. Refunds cannot be generated from institutional scholarship awards. We have included all known scholarships and/or other resources associated with your financial aid package as of the date the Financial Aid Package Award Letter was sent to you.
- After reviewing your Award Letter, pleasereply to our e-mail within ten (10) business days letting us know if you accept / decline all or part of any of your financial aid awards. The Financial Aid Office email address is firstname.lastname@example.org. If we do not hear from you within ten (10) business days, we will assume that you are accepting all of your financial aid awards. If your total financial aid awards listed are less than the direct cost (Tuition, Fees, Housing and Meals), you will have a balance due to Talladega College. Please be sure to contact Student Accounts at 256-761-6221 to make payments or develop a payment plan before you arrive on campus.
- Parent Loans for Undergraduate Students (PLUS) is based on credit eligibility. If your parent is approved for this loan AND completes the required Master Promissory Note (MPN), the dollar amount listed can be processed to your student account. If your parent is denied for this loan, you will have other Federal Student Loan options. Please see a Financial Aid Counselor for more information.
- Any required documentation associated with the completion of your FAFSA must be received in our office prior to the processing of any aid, this includes institutional funds.
- Students accepting a Federal Loan for the first time are required to complete Loan Entrance Counseling (LEC) and a Master Promissory Note (MPN). You can accomplish this requirement by visitinghttps://studentloans.gov/myDirectLoan/index.action . Federal Guidelines state that a first time borrower must wait 30 days before funds can be released. A first time borrower is a student with 0 to 29 earned credit hours and has not received student loans prior to borrowing at Talladega College. In most cases, this is a beginning freshman. This protects the school and the student in case they do not remain enrolled.
FINANCIAL AID UPKEEP:
Your academic conduct and record directly affects your ability to receive financial aid. Dropping and failing classes can prohibit you from receiving financial aid and can lead to you having to repay the financial aid that you have received.
Please familiarize yourself with the Talladega College Satisfactory Academic Progress Policy and the Withdrawal Policy.
Students should also get into the habit of monitoring their student loans and grants through the NSLDS (National Student Loan Data Systems) government website at https://www.nslds.ed.gov/nslds/nslds_SA/. This website informs users of who is holding their loans, repayment periods, and repayment amounts. Student loans and Federal Pell Grants have limits as to how much a student can borrow or receive as an undergraduate.
Thank you for your interest in attending Talladega College. We look forward to serving you on campus!
The Financial Aid Office
627 W. Battle St.
Seymour Hall, Lower Level, Room 11A
Talladega, AL 35160