Ignatius Haleyalig
Director of
Financial Aid Office

Contact

Financial Aid Office
National Campus
P.O. BOX 159, Kolonia, Pohnpei, FSM 96941
(691) 320-2480
ext. 169


Federal Student Aid Programs
P.O. BOX 4691
Mt. Vernon, IL
62864-0059

Financial Aid

The Financial Aid Office administers various types of financial assistance to help students pay for their educational expenses.  Financial aid is provided by federal, state, and institutional sources and consists of grants, loans, and work study.

Types of Financial Aid

Financial assistance may be in the form of:
 

GRANTS and SCHOLARSHIPS which do not have to be repaid provided you attend classes, do not drop classes, or withdraw from COM-FSM; and

WORK-STUDY which provides opportunity to work and earn money for educational expenses.

COM-FSM administers one U.S. federal student aid program (Title IV).  To determine if you are eligible, the U.S. Department of Education uses a standard formula, established by the U.S. Congress, to evaluate the information reported on your Free Application for Federal Student Aid (FAFSA) or your Renewal FAFSA.

The formula produces an Expected Family Contribution (EFC) number which appears on your Student Aid Report (SAR) or Institutional Student Information Record (ISIR).  Your EFC helps determine whether you are eligible or not.

Upon receipt of your SAR or ISIR, the Financial Aid Office prepares an award letter that will advise you of the types and amount of financial aid you will be awarded as well as information on when the aid will be available to you.

Federal Pell Grant

Federal Pell Grant is a grant to help undergraduates pay for their education.  For many students, Pell Grant provides the foundation to which aid from other federal and non-federal sources may be added.  Federal Pell Grant does not have to be repaid.

The maximum award for the 2010 -2011 Award Year (July 1, 2010 to June 30, 2011) is $5,550. The amount you will receive depends not only on your EFC, but also on the cost of your attendance at COM-FSM; your enrollment status as a full-time, three-fourth-time, half-time, or less than half-time student; and the number of semesters attended during the academic year.

Coursework Requirements for a Second Pell
The new regulation that will go into effect in 2010-2011 involve the coursework requirements associated with awarding a second Pell award during an award year. Students must enroll in credit hours “attributable to the student’s second academic year” in order to receive a second Pell award. Since our academic policy definition includes 24 semester hours, student must be enrolled in his/her 25th credit hour in the term during which a second Pell award in offered.
Supplement Education Grant (SEG)
The Compact of Free Association Amendments Act of 2003 eliminates eligibility for citizens of the Republic of the Marshall Islands and the Federated State of Micronesia for FSEOG and FWS. Under the same Amended Compact Act of 2003, students who began their enrollment after June 25, 2004 are eligible for assistance from SEG program.
Academic Competitive Grant
This is a new program that began in the 2006-2007 award year for full-time undergraduate students enrolled in an eligible program, who receive Pell Grants and are U.S. citizens. Students must also completed a rigorous secondary school program of study and be enrolled in at least a two-year academic program acceptable for full credit toward a bachelor's degree. The award is up to $750 for first academic year' undergraduate students and  $1,300 for second year' undergraduate students.
National Science and Mathematics Access to Retain Talent Grant (National SMART Grant)
This is a new grant program for full-time undergraduate students who a enrolled in the third or fourth academic year' of an eligible program, who receive Federal Pell Grants and are U.S. citizens and pursuing an eligible major with at least a 3.0 cumulative GPA. The student does not have to complete a rigorous secondary school program of study to be eligible for this grant. The award is up to $4,000 for each of the third and fourth academic years.
SEG Work-Study Program

The SEG Work-Study Program gives students the opportunity to earn money to help pay for their educational expenses by providing part-time work.  College regulations limit students to a maximum of 20 hours per week while classes are in session and 40 hours per week when classes are not in session (Easter break, semester recess, etc.).  Students are not eligible to work overtime hours.

Work Study pay rate is at least the current COM-FSM minimum wage, and the total award depends on the level of need of a student and the funding level.

The number of hours students are allowed to work depends on their class schedule, health, and academic progress.  Students are paid biweekly.

Work Study funds are made available at the beginning of the school year.  If you are awarded Work Study, you should work out a schedule and carefully monitor the number of hours that you work per week and not exceed the amount awarded.  Upon depleting your Work Study award, you will be terminated from your Work Study position.

State Scholarships
There are state scholarships (as well as grants and loans) available or offered through your own state government. The COM-FSM Financial Aid Offices provide assistance in filling out the state scholarship application form, completing and certifying the "expense section" of the form, and forwarding the applications to the respective state scholarship offices. Scholarship awards are made by the respective state scholarship offices.
Tuition Wavier and Reduction

Tuition up to six credits is waived for COM-FSM employees.

 Dependents of COM-FSM employees as defined in the COM-FSM Personnel Policy and Procedure Manual are granted 50% tuition reduction.

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Student Eligibilty Requirements For Financial Aid

Before receiving any federal student aid, you must meet the general eligibility requirements listed in this section, as well as those requirements which are unique to each program.  In order to comply with the general eligibility provisions, you must:

  1. Have a high school diploma or a General Education Development (GED) certificate, pass an independently administered test approved   by the U.S. Department of Education (DOE), or meet other standards your state establishes that are approved by the U.S. DOE.  A copy of your diploma or GED certificate must be submitted with your application.

  2.  Be accepted and enrolled as a regular student working toward a degree     or certificate in an eligible program.

  3. Be a U.S. citizen or eligible non-citizen. (FSM, Palau, and Marshall     Island citizens are eligible non-citizens.)

  4. Have a "demonstrated" financial need.  Your yearly educational      expenses must be greater than the contribution you and your family can     make toward these expenses.

  5. Maintain satisfactory academic progress once in school.

  6. Student without diploma or GED may qualify for Pell Grant after satisfactory completion of 6 credits of coursework (or equivalent) of degree or certificate eligible coursework.
  • Student cannot get aid for the coursework:
    • Gain eligibility after completion of coursework.
    • Coursework could be transferred in from another institution.

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Application Information and Procedure

Application Information

To be considered for financial aid at the College of Micronesia-FSM, each applicant must complete and submit the required documents and forms identified below following the instructions given. Your application will not be processed until the required documents and forms are received by the Financial Aid Office, and you have been officially accepted into a COM-FSM degree/certificate program.

All applications for aid and supporting documents should be received by the Financial Aid Office at COM-FSM not later than June 1st of each year. Applications received after this period will be evaluated only to the extent to which funds are available.

New students should apply for financial aid when applying for admission to college. Financial aid cannot be awarded to applicants who are not officially admitted and enrolled in college.  Continuing COM-FSM students must reapply for financial aid each year.

FINANCIAL AID IS NOT AUTOMATICALLY RENEWED OR AWARDED.
YOU MUST FILE AN APPLICATION FOR FINANCIAL AID EACH YEAR.

Financial aid application forms, related materials, and information can be obtained from the Financial Aid Offices at the State Campuses.  Apply as soon as possible after January 1st  for financial aid for the next academic year.

Application Procedure

If you did not apply for federal student aid for the 2007-2008 School year, you can apply for federal aid for the 2008-2009 School Year by completing and mailing the 2008-2009 Free Application for Federal Student Aid (FAFSA), or completing the FAFSA on the Internet at http://www.fafsa.ed.gov.

If you did apply for federal student aid for the 2007-2008 School Year and you have a valid U.S Social Security Number, you will be able to file a 2008-2009 Renewal Free Application for Federal Student Aid (Renewal FAFSA). You will either receive it at your home address or from the Financial Aid Office.  You may also file a Renewal FAFSA electronically.

If you apply by mail, your application will be processed in approximately four weeks. Your Student Aid Report will be mailed to the address you provided on the envelope. Review the information on the SAR for accuracy, and if corrections are necessary, make them on the SAR and mail it to the Central Processor or do so electronically at http://www.fafsa.ed.gov. The SAR will report the information from your application and, if there are no questions or problems with your application, your SAR will report your Expected Family Contribution (EFC), the number used in determining your eligibility for federal student aid.  Each school listed on your application will also receive your Institutional Student Information Record (ISIR) electronically.

If you apply electronically through a school, your application will be processed within two to three days.  The results will be sent electronically to your school if the school can receive the information electronically. You will also receive your SAR in the mail.  College of Micronesia-FSM at the National Campus has electronic capability to process your FAFSA.

The following steps must be completed by the June 1st deadline to receive priority for financial aid.

Steps 1-5
  • Step 1
  • Step 2
  • Step 3
  • Step 4
  • Step 5

Complete and sign either the FAFSA or Renewal FAFSA and submit it to the Financial Aid Office or mail it to: 

Contact Information

Federal Student Aid Programs
P.O. Box 4691
Mt. Vernon, IL 62864-0059

Students who completed the FAFSA in 2007-2008 should receive the Renewal FAFSA in November. If you do not receive a Renewal FAFSA, complete the FAFSA.

The Institutional Code for COM-FSM is 010343
Complete the COM-FSM Application for Financial Aid and submit it directly to  the Financial Aid Office.
Submit your parents' 2009 income verification form directly to the Financial Aid Office.
Submit a copy of your passport or birth certificate for citizenship verification to the Financial Aid Office.
If you attended any college or university prior to enrolling at COM-FSM, whether or not you received financial aid from those schools, you must provide the name(s) of the school(s) you previously attended to the COM-FSM Financial Aid Office so your financial aid history can be checked through National Student Loan Data System (NSLDS).

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Educational Expenses

Direct Educational Expenses Per Semester

Tuition ($105 per credit)

 
15 credits $1,575

Required Fees:

 
Registration Fee 15.00
Health Fee 15.00
Activity Fee 15.00
Technology Fee 15.00
Other fees as applicable (see General Catalog)  

Room (dorm residents):

 
Regular Semester (Fall/Spring) 368.00
Summer Session 175.00

Board (dorm residents):

 
Regular Semester (Fall/Spring) 1,470.00
Summer Session 700.00
Estimated Indirect Educational Expenses Per Semester

Books & Supplies:

 
Regular Semester (Fall/Spring) 500.00
Summer Session 250.00

Personal:

 
Regular Semester 750.00
Summer Session 375.00

Transportation (Taxi):

 
Regular Semester (Fall/Spring) 800.00
Summer Session 400.00

Room and Board Allowance (off campus):

 

Student without Dependents Living with Parents

 
Regular Semester (Fall/Spring) 840.00
Summer Session 420.00

All Others

 
Regular Semester (Fall/Spring) 1,500.00
Summer Session 750.00

 

Need Analysis : How Financial Need Is Calculated

Aid from the federal student aid programs is awarded based on financial need.  Financial need is defined as the difference between a student and/or his/her family's expected contributions and the student's annual educational expenses.  The steps for determining your financial need are:
 

  1. Estimate your educational expenses or costs of attendance (tuition, fees, room, board, books, supplies, personal needs, transportation, etc.).

  2. Calculate the amount you and/or your family may be expected to contribute toward those costs.  Based on the information provided on your FAFSA, the Federal Central Processing System (CPS) analyzes and calculates the Expected Family Contribution (EFC).  The EFC measures the family’s financial strength, based on income and assets of the student, the student's spouse, and, if the student is a dependent, the student's parents.  The EFC formula also takes into account the family's expenses, based on the number of persons in the household and the number of those persons attending college.  Parents are excluded from the count of family members in college.

  3. Subtract contributions from you and your family from the total estimated educational expenses to arrive at the estimated financial need.
  4.  

    Need Equation:

    (Cost of Attendance) - (Expected Family Contribution) = Estimated Financial Need

    Example:

      $5,000 Estimated Cost of Attendance
    - $500 Expected Family Contribution
    = $4,500 Estimated Financial Need

     

  5. The Financial Aid Office then attempts to develop a financial aid package      to meet your financial need within the bounds of its funding limitations.

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Award Packing Policy

Finanacial Aid Package

One of the major challenges of FAO is to distribute the available financial aid resources, both federal and non-federal, to best address the needs of all students.  This is done by preparing financial aid packages for eligible students whereby aid from the various sources are combined to help meet their financial need.

College of Micronesia-FSM operates on a two-semester academic year (fall & spring semesters) and a summer session.  The length of each semester is 16 weeks of instructional time and the length of the summer session is usually 6-8 weeks of instructional time.  The College's academic year meets the minimum regulatory requirement which is 24 semester hours and 30 weeks of instructional time.  The College also uses the minimum regulatory standard to determine the enrollment status as stated below:

 

Full-time (FT) 12 units or more
Three-fourth-time (¾) 9-11 units
Half-time (½) 6-8 units
Less than half-time 1-5 units
Award Requirements

Priority consideration for financial assistance is given to students who meet the following criteria:

. Submitted their completed financial aid application by June 1, 2008, for the 2008-2009 academic year.

.   Enrolled for at least 12 credits during the fall and the spring semesters and 6 credits during the summer session; and

. Maintain good academic standing with a cumulative GPA of 2.0 or better.

Your account with COM-FSM must be paid in full by the end of each semester or you will not be allowed to register again at any COM-FSM campus or have access to your academic transcript.

Awards

If you meet all the requirements for financial aid, you will be notified by mail or in person at the Financial Aid Office of the types and amounts of awards soon after COM-FSM receives its federal allocations for student aid.

Pell payment calculation treats the summer term as a "trailer" for students attending COM-FSM for 12 months.  For students attending summer only, Pell Grant can be awarded from the previous or the following academic year, whichever is most beneficial to the student.  Full time load in the summer is defined as 12 credit hours for financial aid purposes only.

The types and amounts of aid awarded depend on:

. The extent of your financial need, such as living circumstances, resources, semester credit hours, and eligibility for the particular financial aid program;

. The availability of funds, financial aid policies, and the number of students COM-FSM is assisting; and

. Your compliance with federal and College policies on financial aid.

Receiving Your Award
At the beginning of each semester, go to a COM-FSM Financial Aid Office to sign appropriate documents (Award Letter and COM-FSM AFA).  Failure to sign the documents can result in cancellation of the financial assistance and an unpaid balance on your account.
Disbursement Procedure
Your financial aid award for the semester will be applied to your tuition and fees, room and board, and other college charges.  Disbursement may be withheld the following semester if you fail to make satisfactory academic progress (SAP) or if there is a dispute regarding your continued eligibility for financial aid.
Award Adjustment of Revision

Your award package may be changed (decreased, increased, substituted, or canceled) by the Financial Aid Office for any of the following reasons:

. You or your family receives additional financial resources to meet your educational expenses. (Any financial assistance such as employment, grants, scholarships, and loans over and above those identified on the award letter must be reported to the Financial Aid Office.)

.  You change your major field of study, credit load, or enrollment status on which your award was based.

.  You or your family provided incorrect information on the FAFSA.

.  Your family circumstances have changed.

Satisfactory Academic Progress Policy

To continue to be awarded Title IV aid, you must be making satisfactory academic progress toward your educational objective in accordance with the U.S. Department of Education's General Provisions Regulations and COM-FSM satisfactory academic progress (SAP) policy. In other words, federal and college regulations require that all financial aid recipients be making satisfactory progress and remain in good academic standing.

The satisfactory academic progress policy includes a QUALITATIVE measure of your academic progress, such as grade point average (GPA), and a QUANTITATIVE measure of your progress, such as enrollment status and expected number of credits completed per established time frame for earning your educational objective.  At the end of each academic year, COM-FSM will determine whether you are making satisfactory progress.

To be considered as making satisfactory academic progress, a student must:

Maintain at least a cumulative GPA of 2.0.

1.  A student whose cumulative GPA falls below 2.0 will be given two consecutive semesters/terms, to raise it.  If the GPA is not elevated to 2.0 or better by the end of the third semester, the student will be placed on academic and financial aid suspension.

2. Complete at least the following number of credits for the corresponding number of credits attempted each semester:

Resisterd for:

Units of Enrollment

Must Complete

Full-time 12 or more 12
Three-fourth-time 9-11 9
Half-time 6-8 6
Less than half-time 3-5 All units of enrollment

3. Complete the two-year community college educational objective within the following maximum time frame:

Degree Programs:

Registered for: Maximum Terms of Eligibility*
Full-time 6 semesters or 3 years
Three-fourth-time 8 semesters or 4 years
Half-time 12 semesters or 6 years
Less than half-time 24 semesters or 12 years

Certificate Programs:

Registered for: Maximum Terms of Eligibility*
Full-time 3 semesters or ½
Three-fourth-time 4 semesters or 2 years
Half-time 5 semesters or 2 ½ years
Less than half-time 10 semesters or 5 years

* All semesters of attendance apply whether financial aid was received or not.

If you change major or graduate with an associate degree or certificate of achievement (CA) and re-enroll into a new program will receive financial aid. However, the credit requirements and time frame may be reduced depending on the number of credits needed to graduate in the new program. A third degree or certificate will not be eligible for financial aid.

Students who are required to take remedial classes may take no more than one academic year's worth of non-credit coursework. ESL is considered remedial but it is not counted in the 30 credit limit.

Transfer units from another institution are considered in determining your status for federal aid at COM-FSM if the credits are accepted toward a degree or certificate.

If you change your enrollment status from semester to semester within an academic year, the institution will average the full and part-time credit requirements to determine the number of credit hours which you must complete by the end of the academic year.

If you are enrolled in only one semester within an academic year, your academic progress will be determined at the end of the academic year based on one semester of attendance.

Treatment of Incomplete and Withdrawal

Courses with the following grades will not be considered as successfully completed:

 
"F" (failure)
"I" (incomplete)
"W" (withdrawal)
Repeated Courses

This means that at the "end" of Summer 2009, you will be placed on Financial Aid Suspension. You will not be eligible for financial aid until your CUM GPA is elevated to 2.00.

Your account with COM-FSM must be paid in full by the end of each semester or you will not be allowed to register again at any COM-FSM campus or have access to your academic transcript.

Financial Aid Probation

You will be placed on financial aid probation if:

. You are placed on academic probation; and/or

. You fail to successfully complete the required credit hours at the end of each regular semester.


While on financial aid probation you will continue to be eligible for financial aid.  The FAO will monitor your academic progress during this period.  Your probationary status will be removed when your CUM GPA is elevated to 2.0 and you have made up all the deficient credit hours.

Financial Aid Suspension

Your financial aid will be suspended (temporarily stopped/withheld) if:

.  You fail to maintain at least a cumulative C average  (a GPA of 2.0) after two consecutive semesters of being on academic probation; and/or

.  Example:

Fall 2007 CUM GPA: 1.25 Status: 1st Warning
Spring 2008 CUM GPA: 1.75 Status: 2nd Warning
Summer 2008 CUM GPA: 1.90 Status: Suspension

.  You fail to successfully complete the required number of credit hours at the end of each academic year (see Satisfactory Academic Policy #2); and/or|

.  You fail to complete your educational objective (program) within the maximum time frame. (see Satisfactory Academic Policy #3)

Appeal of Financial Aid Suspension

(Exception to the Policy)

You may appeal determination of ineligibility by submitting an appeal in writing to the Chairman of the Financial Aid Committee within five working days of receipt of your suspension notice.  The appeal must include the following:

.  Your reasons for not achieving the minimum academic (qualitative and/or quantitative) requirements and/or for not completing your education objective within the time frame allowed; and

.  A non-academic reason why your aid should not be terminated (i.e., illness or death in the family, personal injury or illness, or other special circumstances) with supporting documents from a doctor, counselor, and/or academic advisor.


Submission of an appeal does not guarantee reinstatement of eligibility. Each appeal will be reviewed by the Committee on a case by case basis to determine whether or not the appeal is valid and contains sufficient reasons for reinstatement.  All appeal decisions are final. You will be notified in writing of the Committee's decision within ten working days after the receipt of your letter of appeal by the Committee.


Appeal letter forms are available at the Financial Aid Offices at all COM-FSM campuses.

Reinstatement
If your financial aid eligibility has been suspended due to lack of satisfactory academic progress, it may be reinstated when you have made up ALL prior credit deficiencies and/or have achieved the required grade point average at your own expense.

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COM-FSM Refund Policy

This policy applies to all students. Refund for TUITION AND REFUNDABLE FEES will be determined according to the following schedule:

Regular Semester (Fall/Spring):

If you withdraw % to be refunded The School retains
Prior to the first day of classes 100% 0%
During the firs two weeks 80% 20%
During the third & fourth weeks 40% 60%
After the fourth week 0% 100%

Short Term (Summer):

If you withdraw % to be refunded The School retains
Prior to the first day of classes 100% 0%
During the first week 80% 20%
During the second week 40% 60%
After the second week 0% 100%

Return of Title IV Funds

The Higher Education Amendment of 1998 regulates how much a school must return to Title IV when a student does not complete an enrollment or payment period.
 

When a recipient of Title IV aid withdraws before completing 60 percent of the payment period or an enrollment period, the institution must calculate the amount of Title IV aid the recipient did not earn.  Unearned Title IV funds must be returned to the Title IV programs.  This policy applies only to students who completely terminate their enrollment at COM-FSM.

Calculating Return of Funds

Step 1: Determine Amount of Earned Title IV Aid

Percentage Earned
  x Total Titled Disbursement
  =Amount of Earned Title IV Aid
Step 1: Determine Title IV Aid to be Returned

Actual Title IV Disbursement

  =Amount of Earned Title IV Aid
  =Total Amount of Title IV Aid to be Returned
School's Responsibility Lesser of: Unearned Title IV Aid Institutional Charges x Percentage Unearned
Student's Responsibility Amount of Unearned Title IV Aid Minus School's Responsibility x 50%

If you are planning to withdraw from COM-FSM, please make an appointment with a Financial Aid Counselor to discuss this "return of funds" policy and how it will affect you.
 

Records when you plan to withdraw from the College in order to be officially withdrawn.  The withdrawal date is defined as follows:

.  last date of attendance when withdrawal process is complete.

.  if taking attendance is not required, the withdrawal date is:

.  the date the student began the withdrawal process prescribed by the school (General Catalog);

  • the date that the student otherwise provided the school with official notification of the intent to withdraw; or
  • if the student unofficially withdraws, the midpoint of the payment period for which Title IV aid was disbursed or later date documented by the school.

Special rule:  The Financial Aid Office may determine the appropriate withdrawal date if the student did not begin the withdrawal process or otherwise notify the Office of Admissions and Records of his/her intent to withdraw due to:

.  illness,

.  accident,

.  grievous personal loss, and

.  other such circumstances beyond the student's control

The school must return unearned aid for which the school is responsible by repaying funds to the programs in the following order:

.  Federal Pell Grant

.  Other SFA Programs

If the College determines that there is unearned funds for which the student is responsible for returning, the College will notify/bill the student for the amount.  The total unearned funds which the student owes must be returned before any future funds can be granted.  If a student fails to return the full amount nor make satisfactory repayment arrangements with the College, the student will lose eligibility for federal student aid once it is reported to NSLDS by the College.

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Student Rights

You have the right to:

.    Know what financial aid programs are available at COM-FSM, including information on all federal, institutional, national, state, and local financial aid programs;

.    Know the deadline and procedure for submitting  applications;

.    Know what the cost of attendance is and what the refund policy is;

.    Know the criteria used for selecting financial aid recipients;

.    Know how your financial need was determined;

.   Know what resources are considered in the calculation of your need;

.    Know how much of your financial need has been met;

.    Request an explanation of the various programs in your student package;

.    Know how and when you will be paid;

.    If offered a Work Study job, know what kind of job it is, what hours you must work, what your duties will be, what the rate of pay will be, and how and when you will be paid;

.    Know how the school determines satisfactory academic progress and what happens if you are not making satisfactory progress;

.    Know the name of the school's accrediting organization; and

.    Know who the school's financial aid personnel are, where they are located, and how to contact them for information.

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Students Responsibilities

Your responsibilities are to:

.    Review and consider all information about the school's programs before you enroll;

.    Pay special attention to your application for student financial aid, complete it accurately, and submit it on time to the right place;

.  Provide all additional documentation, verification, corrections, and new            information requested by either the Financial Aid Office or the agency to which you submitted your application;

.    Read and understand all forms that you are asked to sign and keep copies for future reference;

.    Accept responsibility and comply with the provisions for all agreements that you sign;

.  Perform the work that is agreed upon in a satisfactory manner when accepting a work-study job;

.  Know and comply with all the deadlines for application or reapplication for financial aid;

. Know how the school determines satisfactory academic progress;

.  Notify the Financial Aid Office immediately if you withdraw (or plan to withdraw) from school or reduce your enrollment;

.  Inform the Financial Aid Office of any changes in your status (change of residence or additional monetary assistance) during the academic year for which you are accepting financial assistance;

.  Use federal funds given to you only for direct and indirect educational expenses; and

.  Know and comply with your school's refund policy.

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Important Terms

Academic Year:   A period of at least 30 weeks of instructional time during which a full-time student is expected to complete at least 24 semester hours.

Award Letter: A notice informing you of being qualified for federal financial aid.  The award letter provides information on the types and amounts of aid offered, as well as specific program information, your responsibilities, and the conditions which govern the award.  Generally, the award letter gives you the opportunity to accept or decline the aid offered.

Award Adjustment or Revision:  An action by the Financial Aid Office resulting in an increase, decrease, program substitution, or cancellation of your award due to a change in your dependency status, financial circumstances of you or your family, or enrollment status.

Award Packaging:   The process by which the Financial Aid Office combines available aid from several sources to meet part or all of your financial need.

Award Year:   The period of time from July 1 of one year through June 30 of the following year.

Eligible Program:   A course of study that leads to a degree or certificate at a school that participates in one or more of the student aid programs.

Expected Family Contribution: The amount that you and/or your family can reasonably be expected to contribute toward your education from income, assets, and your contribution or "self-help" from summer work or work during other vacation periods.

Financial Aid Package:  The total financial aid that a student receives from federal and/or non-federal sources such as grants, scholarships, and work-study employment.

Financial Need: The difference between the cost of your education and your expected family contribution.

Full-Time: A student registered for at least 12 credits per regular semester (Fall & Spring) and 6 credits (Summer).

General Education Development Certificate (GED):  A nationally recognized equivalent of a high school diploma, granted after a student passes a series of standardized examinations. 

Grants:  Aid that does not have to be paid back.

Half-Time:  A student  registered for 6-8 credits per regular semester.

Independent Student: A student who falls into one of the following categories: (a) was born before January 1, 1985; (b) is an orphan or ward of the court; (c) is a veteran of the Armed Forces of the United States; (d) has legal dependents other than a spouse; (e) is married.  One may also be determined to be an independent student on the basis of unusual circumstances documented by the aid administrator.

Institution of Higher Education:  A postsecondary institution which is a public, private nonprofit, or proprietary institution.  A public or private nonprofit institution of higher education is an educational institution that is in a state and admits as regular students only persons who have a high school diploma, have the recognized equivalent of a high school attendance in the state in which the institution is located.

Legal Dependent:  Any person who lives with you, receives more than half-support from you, and will continue to receive more than half-support from you during the award year.

Need Analysis:  The process used to evaluate your financial situation to determine how much student aid you need to help meet postsecondary educational expenses.  This involves both an evaluation of institutional costs and total resources available to you.

Regular Student: One enrolled in an eligible program at an institution of higher education in order to obtain a degree or certificate.

Satisfactory Academic Progress:  See  Satisfactory Academic Progress Policy

Student Employment: A part-time job either on or off-campus.

Three Fourth-Time: A student registered for 9-11 credits per regular semester.

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