Purpose of the Financial Aid Office

The purpose of the Financial Aid Office is

• to provide professional financial counseling to students and parents concerning meeting the costs of education

• to administer Title IV Aid programs competently according to the institution's philosophy and policies and according to federal regulations

• to maintain institutional records of assistance programs and students assisted

Responsibilities of the Financial Aid Coordinator

The primary responsibility of the Financial Aid Coordinator is to administer and coordinate all financial aid activities for the Southwest Technology Center School District. The Coordinator works closely with the U.S.

Department of Education and other agencies to ensure compliance with all regulations and submits required documents to obtain and maintain appropriate approvals. This position requires knowledge of federal regulations, institutional policies and procedures, ability to deal with clients about sensitive issues and the ability to deal with continually changing program regulations. Specific responsibilities of the Financial Aid Coordinator include the following:

• Interviewing students and providing information on financial aid programs

• Analyzing student needs and assessing eligibility

• Maintaining student financial aid records/files

• Authorizing and processing Pell Grant awards and payments

• Verifying application data on selected applicants

• Calculating student Pell Grant awards

• Collecting progress reports for satisfactory progress

• Calculating return of funds/overpayments/post-withdrawal disbursements when a student withdraws

• Maintaining up-to-date knowledge of relevant federal regulations

• Coordinating fiscal matters with the Encumbrance Clerk, including cash requests, cash accountability and cash disbursements

• Revising the Student Consumer Information, Financial Aid Policy and Procedures, Drug-Free School and Workplace, Campus Security, and Student Handbooks

• Preparing Federal Title IV Reports and approvals
  Performing other general office duties

Location of Financial Aid Records

Financial aid records are located in the Financial Aid Coordinator's office. The Financial Aid Coordinator has the responsibility of maintaining these files and records.

Confidentiality and Inspection of Student Financial Aid Records

All information (written or oral) that a student and/or family reveals in the process of seeking assistance is confidential. Access to this information is restricted to Financial Aid personnel or as requested by independent auditors during annual reviews to ensure compliance with federal, state, and institutional policies. Application materials become the property of SWTC upon submission and are maintained in the student's file. No information shall be released that falls under the Family Educational Rights and Privacy Act without the signed request of the student.

Length of Time to Maintain Student Records

Federal Regulations require that student files be maintained for the current award year and three years beyond closing of the previous award years. A student's file ultimately includes the student's FAFSA application, FAFSA SUBMISSION SUMMARY/ISIR and all related documentation.

Electronic Statement of Account

The Financial Aid Coordinator maintains Electronic Statements of Account by fiscal year in financial aid files. This document transmits information about the school's Pell Grant authorization. As the authorization amount increases, a new Statement of Account will be sent to the school. Electronic Statements of Account summarize current and future payment data submitted via Origination Records and Disbursement Records. The Financial Aid Coordinator reconciles the statement.

Pell Processed Disbursement List/Financial Aid Excel Spreadsheet

The Financial Aid Coordinator uses the Pell Processed Disbursement list and a school developed Excel spreadsheet recording disbursements to students to reconcile total disbursements made. These two reports should equal. The total disbursed is then reconciled with G5 and the Electronic Statement of Account.

The Business Office/G5

The Encumbrance Clerk at SWTC maintains the records of the money ordered through G5. She uses computer entry to track the receipt and disbursements of federal money from the Pell Activity fund.

Description of Accounts

Pell Activity fund: All receipts and disbursements of cash related to the Pell Grant Program are recorded in this account.

Financial Aid Office Hours

Financial Aid Office hours are from 7:30 a.m. to 4:00 p.m. Monday through Friday.

Financial Aid Workshops/Meetings

The Financial Aid Coordinator attends Oklahoma Department of Career and Technology Education Financial Aid meetings, OASFAA meetings, SWASFAA meetings, OVESA Conferences, and other meetings as needed.

Student Policies and Consumer Information

Please see the Student Policies and Consumer Information Handbook at www.swtech.edu, or obtain a hard copy of the handbook in the Administrative/Business Office, in the Counselors' Offices, or in the Financial Aid Office.

Persons Desianated to Provide Student Policies and Consumer Information and Distribution of Forms

The Financial Aid Coordinator, Student Services Director, School Counselor are designated as having the responsibility for distributing disclosure requirements, applications, student forms and general information to current and prospective students at SWTC.

Consumer Information from the U,S, Department of Education

The U.S. Department of Education provides comprehensive student aid information to students and their families through the Student Aid on the Web site at http://studentaid.ed.gov. This streamlined website includes comprehensive information on the student aid life cycle and includes tips and guides for students like the FAFSAcaster, things to consider when selecting a school, and comparing educational institutions.

Gainful Employment Disclosures

The U.S. Department of Education requires Southwest Technology Center to disclose information to prospective students about gainful employment for eligible career options that are 600 clock hours or greater in length with post-secondary (adult) student enrollment. Approximately 50% of our enrollment consists of secondary (high school) students. Gainful Employment disclosure job placement rates include adult students only. Our GE disclosures include: related occupations, program costs and length, on-time completion/graduation rates, job placement rates, and median loan debt. The placement rate methodology is determined by our accrediting agency which is the Oklahoma State Board of Career and Technology Education. Positive placement includes the following: employment related to the career option and program, continuing education, and military enlistment.

It excludes program completers who are unemployed, but seeking employment and students not in the labor force. Southwest Technology Center does not participate in any student loan program and does not have financing plans available for students, therefore, students can finish a program at SWTC debt free.

SWTC Gainful Employment Disclosures and Career Option Brochures include CIP and SOC codes. CIP codes are used to provide a standard way of classifying fields of study, mostly at the post-secondary (college/university) level. The CIP Classification of Instructional Programs Code is listed under each career option in the Student Consumer Information Handbook located on the SWTC website at www.swtech.edu or in the Financial Aid Office. You can also access CIP Code information at www.nces.ed.gov/ipeds/cipcode.

The SOC system was developed in response to the need for a universal occupational classification system.

Such a classification system allows government agencies, private industry, and students to produce comparable data about occupations. The SOC Standard Occupational Classification Code is listed under each career option in the Student Consumer Information Handbook located on the SWTC website at www.swtech.edu or in the Financial Aid Office. You can also access SOC Code information at www.onetcodeconnector.org.

As of July 1, 2019, per federal regulations, SWTC GE Disclosures will be distributed to prospective students as a separate document before the student signs an enrollment application or makes any financial commitment to the institution. Per federal guidelines, written confirmation of the receipt of the GE Disclosure Template will be obtained from all prospective students.

SWTC is required to submit data to the U.S. Department of Education on students enrolled in GE programs including information to identify the student, program CIP code, credential level, length of the program, the student's attendance dates, and status during the award year. If the student completed or withdrew, SWTC must report the date, the total amount of tuition and fees charges, the total amount the student received from private loans, and the cost of attendance.

All Gainful Employment Disclosures are available on the SWTC website at www.swtech.edu. A hard copy of all GE Disclosures are kept in the Administrative/Business Offices, Counselor's Offices, and Financial Aid Offices at both campuses. For questions regarding Gainful Employment or to obtain a hard copy of the Gainful Employment Disclosures, please contact the Financial Aid Coordinator.

NET PRICE CALCULATOR

The Net Price Calculator is available on the SWTC website at www.swtech.edu. The purpose of the Net Price Calculator is to assist in "estimating" the individual net price for attending an educational institution.

The net price is defined as the cost of attendance minus the average yearly grant and scholarship aid. Please be advised that the calculator is for estimating purposes only. Final eligibility for aid is subject to the student completing the Free Application for Federal Student Aid (FAFSA) at https://fafsa.ed.gov, meeting eligibility, meeting priority deadlines, and availability of funds. The results provided here should only be considered an estimate and do not guarantee the actual financial aid the student will receive. This estimate is not final; is not binding on the U.S. Secretary of Education, SWTC, or the state; and may change.