Financial Aid

Financial Information

The primary responsibility in financing the costs of post secondary education with the College of Micronesia-FSM rests with students and their families. However, COM-FSM administers three U.S. Federal Student Aid program to help student with limited financial rsources seek financial assistance to pursue their post secondary education with COM-FSM. The Financial Aid Office at COM-FSM is taked to help, assist and process all applications for financial assistance in accordance with the COM-FSM Student Financial Aid Handbook. The Student Financial Aid Handbook, available at Financial Aid Office, provides complete information on (1) how to apply for U.S. Federal financial assistance, (2) the costs of education with COM-FSM and (3) the calculation of financial awards to students and other important information concerning financial assistance.

Financial Aid Programs

Financial assistance at COM-FSM are in the form of:

1. Federal Pell Grant: Pell Grant is a U.S. grant to help undergraduate students who have not earned a bachelor’s or professional degree pay the costs of post secondary education.
2. Federal Supplemental Educational Opportunity Grant (FSEOG): This grant, in addition to Pell Grant, is given to student with exceptional financial need who enrolled in college level program prior to June 25, 2004. Students will continue to receive this grant for not more than four academic years.
3. Federal Work Study: The program provides the opportunity to apply for part-time employment and earn money to pay for their educational cost. Eligible students are those who already enrolled in a college level program prior to June 25, 2004. This program will continue for not more than four academic years.
4. Supplemental Education Grant (SEG): Under the Amended Compact, students that are enrolled after June 25, 2004 are not eligible to receive assistance under FSEOG and Work Study. However, the US has provided a discretionary annual grant to the FSM to provide a system of educational assistance that benefits equal in quality with FSEOG and Federal Work Study through SEG.
5. CFSM Student Assistance: Annual appropriation from FSM National Government to the College to be used as scholarship grant to FSM students.
6. State Scholarships: State scholarships are processed and awarded by Pohnpei, Chuuk, Kosrae and Yap states to the students from their respective states.
7. Other Scholarships:
   • Rotary Scholarship
   • FSM Development Bank
   • Mobil Scholarship
   • Association of Filipino (STAP) Scholarship

   Tuition & Fees

   Tuition and fees are set by the COM-FSM Board of Regents.

   Tuition Fee:
   The current tuition fee of $85 per credit was adopted by the Board on October 2003 and was implemented effective Spring 2004. Below is the schedule of tuition fees based on certain number of credits:

   1 credit..................... $85.00
   3 credits..................... $255.00
   6 credits..................... $510.00
   9 credits..................... $765.00
   12 credits..................... $1020.00
   15 credits ..................... $1275.00
   18 credits..................... $1530.00

   Entrance Test/Admission Fees

   Entrance Test Fee: A $5.00 fee has to be paid by all students before taking the entrance test for admission at the College.

   Admission Fee: A $10.00 fee must accompany an application for admission at the College.

   Enrollment Fees

   Registration Fee: A $15.00 per semester registration fee has to be paid at the time of registration for both full-time and part-time students. This helps defray the cost of enrolling students in classes, recording of grades, maintaining student records, and other expenses relative to the Office of Admissions and Records, Financial Aid Office and Business Office.

   Health Fee: A $15.00 per semester health fee has to be paid at the time of registration by students at Campuses where student health care and counseling are available. However, charges incurred by the student at the hospital or private clinics are the responsibility of the student.

   Student Activity Fee: A $20.00 student activity fee has to be paid at the time of registration by all students each semester at the Campus where the student activities are provided. The fee provides students access to all COM-FSM Student curricular and extracurricular activities.

   Other Fees

   Technology Fee: A $50.00 fee per semester/session is charged to all students to have access to computers. This fee helps the College maintain up-to-date and adequate technology facilities for students.

   Laboratory Fee: Students taking science, education and agriculture laboratory courses are required to pay a fee of $25.00 for each laboratory course.

   Fees Charged When Applicable

   Late Registration Fee: Students who register after the last day of regularly scheduled registration are charged a late registration fee of $5.00.
   Auditing Fee: Students who are allowed to audit a course will be charged $20.00 per credit course.
   Credit-By-Examination Fee: A non-refundable fee of $15.00 per course will be required when students apply to earn credit-by-examination.

   Graduation Fee:
   • $36.50 fee is required for all students receiving a diploma for an associate degree or a third-year certificate of achievement in any program.
   • $10.00 fee is required for students completing other certificate of achievement programs.

   The fee must be paid when filing an application for graduation.
   Transcript Fee: No fee is charged for the first request for a transcript. However, $2.00 fee is charged for each subsequent transcript request.
   Duplicate ID Fee: A $5.00 duplicate ID fee is charged to replace a lost ID card.
   Duplicate Diploma Fee: A $15.00 duplicate diploma fee is charged to duplicate a lost diploma.
   No Sufficient Fund (NSF) Check Fee: A $15.00 fee is assessed for each check payment made by students that were returned by the bank for insufficient fund and for closed account.
   

   Refund of Fees Policy

   Below are the tuition and fess that are refundable:

   • Tuition Fee
   • Student Activity Fee
   • Health Fee
   • Laboratory Fee
   • Technology Fee
   The % of refund of the above refundable fees is determined according to the timing of withdrawal using the following schedule.
   If Students withdraw from school

   Regular Semester (Fall/Spring):
   

   • Prior to the first day of class - 100%
   • During the first two weeks - 80%
   • During the third & fourth weeks - 40%
   • After the fourth week - no refund
   Summer Session:
   • Prior to the first day of class - 100%
   • During the first two weeks - 80%
   • During the third & fourth weeks - 40%
   • After the fourth week - no refund
   Full refund will be given if changes are made in the published schedule of classes which resulted in the complete withdrawal by the student. Partial refund for the difference in tuition and applicable fees will be given to students who reverted to part-time status as a result of changes in the published schedule by the college.

   The College will not assess penalty charges when the student is not in error or at fault. Requests for refund should be made in writing to the Vice-President for Support and Student Affairs within fifteen days after the changes occur. The College assumes no liability for such refund after fifteen days have passed without the written request for the refund.

   However, the following fees are not refundable:
   

   • Admission Fee
   • Registration Fee
   • Late Registration Fee
   • Auditing Fee
   • Credit-By-Examination Fee
   • Graduation Fee

   More Information can be obtained through the following:

   Financial Aid Office
   College of Micronesia - FSM
   Chuuk Campus
   P.O. Box 879
   Weno, Chuuk FM 96942
   Telephone: (691) 330-5952