An outside resource is aid or benefits available from other sources, including outside scholarships, Workforce Innovation and Opportunity Act (WIOA) benefits and Veterans Affairs (VA) educational bene [..]

An academic year is a period in which school is in session, consisting of at least 32 weeks of instructional time. The school year typically includes a fall term (August through December), a spring te [..]

An award letter is an official document issued by the Financial Aid Office that lists all of your awarded financial aid, including source and amount details. You’re not required to sign or return the [..]

College of The Albemarle’s (COA) Business Office is responsible for the billing and collection of college charges, and the disbursement of federal and state financial aid.

Campus-based aid is a federal program administered by COA. The federal government provides COA with a fixed annual allocation, which is awarded by the Financial Aid Office to deserving students. Progr [..]

The cost of attendance

A loan is in default when the borrower fails to pay several regular installments on time, or otherwise fails to meet the terms and conditions of a loan. If you default on a loan, legal action may be t [..]

Deferment occurs when a borrower is allowed to postpone repaying a loan. If you have a subsidized loan, the federal government pays the interest charges during the deferment period. If you have an uns [..]

If you fail to make a loan payment on time, you’ll be considered delinquent and late fees may be charged. If you miss several payments, the loan goes into default.

An eligible non-citizen is someone who is not a U.S. citizen, but is still eligible for federal student aid. Eligible non-citizens include U.S. permanent residents who are holders of valid green cards [..]