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252-222-6151 252-222-6147 General Financial Aid Policies
Carteret Community College participates in federal, state, and college based financial aid programs. The purpose of financial aid is to provide assistance to a student of financial need who without financial aid would be unable to pursue an education.
Federal financial aid awards are made only to those students who have completed high school, possess a General Education Diploma, or have demonstrated an ability to benefit as determined by criteria set forth by the United States Department of Education (see pg. 88 for details).
Financial aid recipients must be either a US Citizen or an eligible non-citizen.
The Financial Aid Office reserves the right to review and cancel a financial aid award at any time because of significant changes in the student's financial or academic status.
Financial aid recipients must maintain satisfactory progress (see pg. 93). A student failing to meet the minimum standards will lose financial aid until satisfactory progress requirements are met.
A student will be awarded financial assistance only if they are not in default on any prior student loan, and does not owe a refund on previously received federal or state financial aid.
Financial aid recipients must reapply for financial aid each year.
A student must maintain and verify class attendance to receive All eligibility questions should be addressed to the Financial Aid Office, Carteret Community College, 3505 Arendell Street, Morehead City, North Carolina, 28557-2989
Estimated Cost of Attendance
The following cost of attendance is only used to determine financial aid eligibility and is not intended to represent an actual amount a student will have to pay to the college. The only costs included in this estimate that the student actually pays to the college are tuition, fees, and books. The remainder are listed to help a student plan his or her budget.
2002-2003 Cost of Attendance
Note: Out of state tuition charges are added when applicable.
Application Procedures
A student anticipating the need for financial assistance should begin the application process at the time of application for admission to Carteret Community College (CCC) or as soon after January 1 of the applicable year. A student must submit the following forms which are located in the Financial Aid Office:
A student may be required to submit other applicable forms if selected for verification.
Ability to Benefit
Any student who has not graduated from high school, received a GED, or graduated from an adult high school program will not be able to receive financial aid unless they show an ability-to-benefit. To satisfy this requirement, a student must schedule a time with the Director of Student Enrollment Resources to take our placement exam off-campus. The student must meet nationally published scores on all parts of this test in order to receive aid. Exceptional Circumstances The Financial Aid Officer has the authority to make adjustments to a student's cost of attendance and Expected Family Contribution. The Financial Aid Officer may treat a student with special circumstances differently than the strict application of the eligibility formula would otherwise permit. Adjustments can either increase or decrease a student's Expected Family Contribution or cost of attendance.
The reason for the adjustment must relate to that student's special circumstances and must be documented in the student's file.
Before making an adjustment, the Financial Aid Officer may request any supplementary information from a student which the Financial Aid Officer feels is necessary. The Financial Aid Officer may continue to request this information until the student provides either the information, acceptable alternate information, or a reasonable explanation as to why the information is not available.
Application Deadlines
In order to be considered for the North Carolina State Incentive Grant, North Carolina residents must submit the Free Application for Federal Student Aid (FAFSA) before March 15, 2002 for the 2002-2003 academic year, and before March 15, 2003 for the 2003-2004 academic year.
To be considered for federal grants, loans, and work-study, for the 2002-2003 academic year the FAFSA must be received by the federal processor in Illinois by May 1, 2003, corrections and additional information requests must be received by June 30, 2003, and requests for duplicate copies by July 31, 2003.
Awarding Procedures
In order to receive an award both your Financial Aid and Academic files must be complete. As student will be sent a letter outlining the specific amount of his/her award if eligible for the following programs:
See charts on page 98 for more information.
To apply for additional Financial Aid programs such as Federal Work-Study, child care assistance, Stafford Loans, and scholarships, students must submit separate applications located in the Financial Aid Office.
Enrollment Status
Enrollment status is based on registered credit hours that count towards the student's program of study. Classes taken outside of the student's major will not be included in enrollment status for financial aid purposes.
Audit, Enrollment
Change, Remedial
1. Courses taken for AUDIT purposes will not be calculated in the financial aid award. In the event a student changes his/her course(s) to AUDIT after receiving the Pell grant, the award will be reduced by the appropriate amount and repayment of aid may be required. 2. If a student completes the registration process for a course(s), receives Federal Pell grant for that course in the award calculation, but never attends the course(s), he/she will be required to refund part of the grant. The grant will be decreased by the appropriate amount. 3. A student receiving Federal Pell grant will be allowed to receive payment for a repeated course(s) if the grade received on the course(s) was a failing grade. This will only be allowed once per course. 4. A student can only receive federal financial aid for 30 semester credit hours of remedial classes. 5. MAT 050 is not an eligible course for financial aid for certain majors. Any major program of study requiring MAT 141, MAT 145, MAT 151, MAT 155, MAT 161, MAT 162, MAT 171 cannot count MAT 050 as part of enrollment for financial aid purposes.
Charging Books
For a student to charge tuition, fees, and books to the Federal Pell Grant, the student must have submitted all necessary financial applications and transcripts, and deemed accepted into an eligible degree, diploma, or certificate program by the Office of Admissions four weeks prior to registration and have received an Award Notification from the Financial Aid Office.
If a student fails to meet this deadline, the student is responsible for paying his/her tuition and books until the Pell grant is processed.
Books can be charged in the bookstore for the first seven days of the term only.
Disbursement
A student must complete and submit an attendance form each semester to receive a disbursement for all grant and loans programs. The Business Office disburses all funds.
Federal Pell Grant Federal Pell Grant students that submit their attendance forms by the due date listed on the form and have received an award notification, will receive their disbursement within 14 days from the beginning of the semester. Refunds for students whose attendance forms are turned in after the deadline or students who are awarded aid after the term has begun will receive their refund check in the next subsequent disbursement. Disbursements will be made on the 1st and the 14th of every month.
Late applicants eligible for an award for a prior semester will be paid based on the number of hours completed for all prior semesters in the applicable academic year.
North Carolina Grants Disbursement will be mailed two weeks following the receipt of funds from the state office.
Federal Stafford Loans Loans are disbursed in two parts. For the first-time borrower, the first half will be disbursed thirty days from the first day of the term.
Continuing students will receive the first half disbursement the second week of the first term.
For single term loans, the second half will be disbursed one week following the mid-point of the term.
For a two term loan, the second half will be disbursed the second week of the second term.
Scholarships Institutional Scholarships For restricted scholarship, funds must be used for the payment of tuition, fees, and books. Under exceptional circumstances, the funds may be used for supplies sold outside of the bookstore. For unrestricted scholarships, funds must be used for tuition, fees, and books. Remaining funds will be disbursed upon student request.
Outside Agency Scholarships Checks made payable to the student will be disbursed after the beginning of the term. Checks made payable to the students AND the college must be used for tuition, fees, and books. Remaining funds will be disbursed upon student request if allowed by the scholarship donor. Checks made payable to the college, must be used for tuition, fees, and books. Remaining funds will be disbursed upon student request, if allowed by the scholarship donor.
Policy Regarding Crediting a Student's Account with Financial Aid Proceeds
When a student is awarded financial aid, there is a specific procedure for crediting the student's account. Federal and state financial aid must be used solely for the purpose of paying educational costs. Therefore, adhering to federal policy, Carteret Community College automatically pays tuition and fees with the Federal Pell grant. This cannot be rescinded. A student may authorize the use of his/her Federal Pell grant money to pay for books. A student may only charge books against their account during the first seven days of the term. After tuition and authorized noninstitutional costs are paid, the remaining credit balance will be mailed to the student according to the institutional policy and procedure regarding disbursements.
1. For a student with multiple awards, the following order shall be employed in crediting a student's account:
2. Federal Stafford Loans will not be used as a credit to the student's account. Nursing loans will not be used as a credit to the student's account. North Carolina Student Incentive Grant also will not be used as a credit to the student's account.
3. It will be the general practice to credit scholarships to the tuition account first, if the check is made payable to the College or made payable to both the student and the College.
Student Responsibilities
Satisfactory Progress for Financial Aid
To receive all financial aid except scholarships at Carteret Community College, a student must comply with all three standards of satisfactory progress.
To find the maximum time frame for any given program of study, the required number of credit hours necessary to successfully complete the program is multiplied by 150%. All credit hours attempted count towards the maximum time frame limit, including any credit hours taken in a different major course of study. Additionally, withdrawals and remedial courses will count towards this time frame.
Enforcement of Satisfactory Progress
Student Appeal Procedures
A student must submit a letter detailing the extenuating circumstances preventing him or her from maintaining Satisfactory Academic Progress. The Financial Aid Committee is allowed up to ten (10) working days to review this appeal. The student will be notified in writing of the Financial Aid Committee's decision.
If the Financial Aid Committee votes to deny the appeal, the student will have up to ten (10) working days to resubmit an appeal with significantly different information to the Financial Aid Committee, or request the Director of Student Enrollment Resources to review his or her case verifying that the Financial Aid Committee exercised due process and evaluated the appeal fairly. If the Director of Student Enrollment Resources discovers that the original appeal failed to detail significant information to the Financial Aid Committee, the Director of Student Enrollment Resources will request that the student rewrite an appeal attaching supporting documentation for the Financial Aid Committee to review.
The Director of Student Enrollment Resources is allowed up to ten (10) working days to review the case. The student will be notified in writing of the Director of Student Enrollment Resources' decision.
If the Director of Student Enrollment Resources denies the appeal, the student will have up to ten (10) working days to submit an appeal to the Vice-President of Instruction and Student Support. The Vice President of Instruction and Student Support will review the case evaluating whether the student has received due process and the Financial Aid Committee evaluated the appeal fairly. The Vice President of Instruction and Student Support has final jurisdiction.
Return of Title IV Funds
(including the Federal Pell Grant, SEOG Grant, and Federal Stafford Loan)
Withdrawing prior to the 65% point in a semester may result in having to repay financial aid. The financial aid office recalculates federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 65% of a semester to determine if money must be repaid.
Recalculation is based on the percent of earned aid using the following formula: Percent earned = Number of calendar days completed up to the withdrawal date** divided by the total calendar days in the semester.
Federal financial aid is returned to the federal government based on the percent of unearned aid using the following formula: The unearned percentage = number of the calendar days in the term minus number of calendar days attended, divided by the total number of calendar days in the term.
Tuition and fees multiplied by the unearned percentage = the amount the school repays.
The remaining federal aid multiplied by the unearned percentage = the amount the student must repay the federal government. The student is entitled to a 50% reduction of any grant money owed. The student must reimburse the school for any money the school had to repay the federal government if the student signed the repayment agreement on the institutional application.
This amount will be reduced in accordance with the refund policy, if applicable.
After a withdrawal, if the student receives notification that there is a debit balance owed to the college, the student should contact the Office of Finance and Operations to make arrangements to pay the balance.
**Withdrawal Date is defined as the actual date the student began the withdrawal process, the student's last date of recorded attendance or the midpoint of the semester for a student who leaves without notifying the institution.
Example 1: Jane Doe registers for 12 credit hours, charges her tuition to the Federal Pell Grant and subsequently withdraws after thirty days. Her Pell grant award is $1650. Since her withdrawal is before the 60% point in the term, she must repay part of her Pell grant back to the federal government. Considering a term consists of 119 days, 30/119= 25%, the earned percentage of the term. Conversely, the unearned percentage is 75%. The school and the student must repay 75% of all federal aid received. Tuition and fees for 12 credit hours at $334.25 multiplied by 75% = $250.69 represents what the school must repay the federal government. The remainder of the award (excluding tuition and fees) of $1315.75 multiplied by 75% = $986.81 represents how much the student must repay. Considering this amount is grant money, the student receives a 50% reduction, which becomes $493.41 as the amount the student must repay. Important note: if the student is not eligible for a refund of tuition, he or she in addition to repaying $493.41 to the federal government, will have to reimburse the school $250.69 for the amount the school had to repay.
Example 2: Joe Smith registers for 12 credit hours, charges his books and tuition to the Federal Pell Grant and subsequently withdraws after seventy seven days in the term. Since the term consists of 119 days, 77/119 = 65%, which represents the earned percent of the term. Federal funds need to be returned only if the student withdraws prior to the 61%. So in this example, no return of funds is needed.
Fraud and Misrepresentation
Attendance forms determine payment of financial aid funds. Intentionally falsifying an attendance form will lead to serious consequences not limited to expulsion and criminal prosecution. All cases of fraud will be forwarded to the U.S. Office of Inspector General.
If a student is convicted of a drug offense during the period of enrollment covered by any federal financial aid during a term in which the student previously certified he or she would be drug-free, this miscertification must be reported as fraud. Carteret Community College strives to maintain a drug-free environment.
Student Loan Fund
An eligible student may borrow up to a maximum of $600.00 for books and tuition. The Loan money is established as a credit in the Business Office and bookstore. No cash is given. A student must complete the Short Term Student Loan form in its entirety, including a valid Visa or MasterCard from both the applicant and co-signer, in order to be eligible. Completion of the minimum requirements does not guarantee approval.
The Financial Aid Officer has the final authority to approve the Loan and may refuse the application for any reason. The Loan fund is subject to availability of funds. At any time, the Financial Aid Officer has the authority to stop accepting loan applications and/or revise the maximum amount an individual can borrow, when a lack of funds is imminent.
A borrower will not be allowed to register for the next semester if the loan has not been paid in full.
No transcripts or grade notices will be released from the College while loan money is owed.
A student who repays late or has defaulted on a prior loan will not be able to participate in the college's Short Term Student Loan program.
Loans not repaid by the published deadline accrue a 9% annual interest rate. A student who defaults on his or her loan will be responsible for any applicable collection fees.
Important note: The Loan fund exists from money collected from repaid loans. The future of the Loan program depends on a student honoring his or her obligation and repaying the loan by the published due date.
Student Loan Collection Procedures
A student must repay the Student Loan using a personal check, money order, bank draft, or cash by the due date, to prevent the Business Office from using the credit cards on file. One week after the Loan deadline, the student's credit card will be used to repay the Loan. If the student's credit card fails to repay the Loan, the co-signer's credit card will be used. If that card fails to satisfy the financial obligation, the student will be mailed written notification of the delinquent loan amount. The student will have fourteen days from the original due date (15th of the month) to repay the Loan. If a borrower fails to repay the Loan after the fourteen day warning period has expired, the borrower will be removed from classes with failing grades assigned.
Community Support
Vocational Rehabilitation: If a prospective student has a physical disability or is limited in activity because of a disability, he or she should contact the Division of Vocational Rehabilitation Office, 4030 Arendell Street, Morehead City, North Carolina 28557, (ph. 247-2037).
Coastal Community Action, Inc. The Self Sufficiency Program combines many different services to provide low-income families a chance to rise above the poverty income level. To apply for services, contact 216 Turner Street Beaufort, NC 28516 (ph. 728-4528).
Department of Social Services: P. O. Box 779, Beaufort, NC 28516, (ph. 728-3181).
Broad Street Clinic: Help affording medications (ph. 726-4562).
Hope Mission of Carteret County: Soup kitchen (ph. 240-2359).
Tax Incentives
Hope Scholarship Tax Credit This credit applies to the first two years of post-secondary education.
For instance, if a student did not claim his or her federal Pell grant or scholarship as taxable, then that amount of the grant or scholarship reduces the eligible tuition expenses a student can claim for the Hope scholarship or Lifelong Learning tax credit. See a tax advisor for more information.
The Hope Scholarship tax credit is proportionally reduced for single taxpayers who have modified adjusted gross income between $40,000 and $50,000 ($80,000 and $100,000 for joint returns). Married taxpayers must file a joint return to be eligible for the credit. Student loans that are used to pay tuition are considered eligible payments by the taxpayer.
Life Time Learning Tax Credit The Lifetime Learning Tax Credit is targeted to an adult who wants to return to school, change careers, or take courses to upgrade his/her skills. This includes continuing education courses, if the courses are required to upgrade job skills.
A family will receive a 20% tax credit for the first $5,000 of tuition and required fees paid each year through the year 2002, and for the first $10,000 thereafter. A family may claim the credit on a federal tax return in 2001 for amounts paid during the year 2000.
The maximum credit is determined on a per-taxpayer (family) basis, regardless of the number of post-secondary students in the family, and is phased out at the same income levels as the Hope Scholarship tax credit.
A family will be able to claim the Lifetime Learning tax credit for some members of their family and the Hope Scholarship tax credit for others who qualify in the same year.
Just like the Hope Scholarship tax credit, the Lifetime Learning tax credit is available for tuition and required fees less grants, scholarships, and other tax-free educational assistance.
In order to claim either tax credit, a completed W-9S must be submitted to the Finance & Operations Office. VETERAN'S EDUCATIONAL ASSISTANCE
The Department of Veterans Administration provides a program of financial assistance for the education and training of eligible veterans and veteran dependents. The program is designed to encourage self-improvement and offers financial help to such veterans and veteran dependents in raising their educational level. Curriculum programs are approved by the State Approval Agency for training veterans under Public Law 894 and for children and widows of certain deceased or totally disabled veterans under Public Law 634. Carteret Community College has been approved for the training of veterans. Veterans, widows, and children of deceased veterans who want to attend school under US Code 10 or 38, Chapters 30, 31, 32, 35, or 106 may be admitted to Carteret Community College and approved to receive educational benefits provided they meet the requirements established by the Department of Veterans Administration.
V.A. Toll Free Telephone Number
Call the toll free number if you need to communicate directly with the Veteran Administration. The number is 1-888-442-4551. A Veteran student should be prepared to give their veteran file number to the Veteran's Administration counselor who answers the telephone.
How to Apply
V.A. Student Responsibilities
A veteran student must notify the Financial Aid Officer with a change of major program of study.
A student must contact the Veterans' Administration if there is a change in address or number of hours enrolled.
A veteran student may not enroll in a class outside his or her approved curriculum as indicated on the curriculum checksheet.
A student receiving Veteran benefits is not allowed to repeat any courses for which he or she has previously been given credit. It is the student's responsibility to enroll in only those courses required for graduation.
In addition, a veteran student may not pursue a double major.
Enrollment Status
Enrollment status is based on registered credit hours that count towards the student's program of study. Class taken outside of the student's major will not be included in enrollment status for VA purposes.
Audit, Enrollment Change,
Remedial
Change of Major, Program of Study, or Place of Training
If a veteran student wants to change his or her major program of study or change from one school to another, he or she should complete the form 22-1995, located in the Financial Aid Office.
Certification Periods
A veteran student will be certified until the following August. For instance, if a student begins in January, the certification will include the spring term and the summer term. If the student begins in August, the certification will include all three terms, fall, spring, and summer.
Attendance
A veteran student is expected to attend class. As with all students, a veteran student exceeding the allowable absences will be dropped from class. This drop will be reported to the Veterans' Administration, and benefits will be adjusted accordingly.
Verification of Attendance
A veteran student is mailed a monthly attendance form from the Veterans Administration. The form must be completed, signed and returned as soon as possible. The next monthly check will be held until that form is in the possession of the Veterans Administration. To ensure timely payment, it is important to return this form as soon as possible.
Policy of Enrollment in Distance Learning Courses
In order to maintain a high quality of education and academic excellence, all VA students receiving educational benefits will meet the following criteria before enrolling in a telecourse or Internet course:
Course Substitution A veteran student is expected to follow the curriculum standards as shown on curriculum check sheets, unless a course may be substituted to meet a requirement. A student may request course substitution with the submission of the Course Substitution Recommendation Form.
Independent Study
Under certain circumstances some courses may be taken on an independent study basis. The student must contact their advisor and curriculum coordinator for details in requesting approval to take a course by independent study.
Satisfactory Progress for V.A. Benefits
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