FInancial Aid Policy

Due to the high demand for financial aid, we have set deadlines for receipt of required financial aid applications and supporting documentation. It is important to adhere to deadlines. The Connecticut College deadlines can be found on the Application Process page of our wbsite. Failure to submit all documentation by the appropriate deadline may result in a reduction in the aid offered. If there are special circumstances preventing you from meeting our deadlines, please contact our office for guidance.

Since a family's financial situation often changes from year to year, students are required to reapply for financial aid each year. This means that a student's financial aid award may be increased or decreased over the years of enrollment based on the changes that occur in the family's income, assets, family size, number in college or special circumstances.

In the case of a divorce or separation, our policy is that both parents, regardless of any special arrangements that are made, are responsible for funding the cost of education. We take into consideration the costs of maintaining two households, but expect both parents to support their child's education.

Connecticut College uses both federal and institutional methodologies to determine the financial aid award. The information provided on the Free Application for Federal Student Aid (FAFSA), CSS Profile, and other documentation is used by the Financial Aid Office to calculate the expected family contribution. The federal methodology is used to determine eligibility for federal and state aid. The institutional methodology is used to determine eligibility for institutional need based aid.

All documents are examined carefully. Some items that can be deducted on your taxes i.e. depreciation, vehicles expenses, losses, etc. might not be allowed for purposes of determining institutional aid eligibility. Families that show very low or negative income on their tax returns will be asked to provide documentation of their living expenses.

On your financial aid application, you are asked to report those in your family who will be enrolled in a college or university for the coming year. Connecticut College will verify the enrollment of other family members listed. If any of the family members did not enroll as indicated, the parental contribution will be increased and the aid award decreased for the current academic year.

In accordance with federal regulations, all financial aid recipients are required to make satisfactory academic progress (SAP). This means that financial aid students must maintain a minimum grade point average and accumulate a sufficient number of credits as they progress through the program. If a student fails to make satisfactory academic progress, s/he may lose eligibility for federal financial aid, which could greatly reduce the amount of financial aid available. Institutional aid is limited to 8 semesters, less for transfer students. Please consult the college catalog for details regarding this policy.

Each student applying for financial aid is expected to make a standard minimum contribution to his or her educational costs. Typically, this contribution is used to fund costs such as: books, supplies, miscellaneous and travel.

As a student progresses through his or her education and gets closer to the completion of a college degree, he or she becomes more responsible financially to repay student loans because of increased earning power. Therefore, students become eligible for higher loan amounts each year. Since Connecticut College believes students should gradually take on a greater personal responsibility for the cost of education, students will be offered a higher proportion of loans each year to take full advantage of the student's eligibility for these student loan programs.

When determining eligibility for institutional aid, no allowance will be given for those family members enrolled in graduate or professional schools. Graduate and professional students can be considered financially independent from parents for federal financial aid purposes and therefore have access to higher loan limits to help finance their cost of education.

Many students receive outside sources of funding to support their college expenses. It is important to notify Financial Aid Services if any funding of this type is received. Federal regulations require that outside awards be considered when a student's eligibility is determined. When a student receives an outside scholarship the award will change in this order:

1. Family contribution will be reduced to the federal level
2. Loan levels will be eliminated or reduced
3. Student employment will be eliminated or reduced
4. Very last to be reduced is/are the grant(s)

Please use the form to notify our staff of these scholarships.

Private Scholarship Reporting Form

When a parent receives a tuition benefit through their employer, the funding is used to reduce the grants awarded by Connecticut College.

Students from Connecticut, District of Columbia, Maine, Massachusetts, New Hampshire, Pennsylvania, Rhode Island and Vermont may be eligible for state grant assistance. Eligibility criteria and amounts are determined by each state. It is the student's responsibility to meet all application deadlines set by their state. The College will not make up for these funds if a student fails to apply or complete the application requirements.

Additional Financial Aid Policies

Annual Disclosure of Consumer Information

Under federal law, every college or university is required to provide students with certain basic information about the institution. Attached is a list of the required topics and where to go for more information. For questions, contact Financial Aid Services at 439-2058.

Advanced Placement/Overpointing

Regulations governing the federal and state financial aid programs allow aid to be awarded up to the level of credits required to satisfy the degree requirements. Students who have Advanced Placement credits, transfer credits, summer credits, or have over pointed may fulfill the graduation requirement earlier than the eight semesters allowed, which will make the student ineligible for federal and state funds for any remaining semester(s). Students who need no more than two courses in a particular semester to graduate will find their federal and state aid in jeopardy even if they enroll in more than two courses. If you are such a student, we encourage you to review your academic record. If you think a potential problem exists, you should make an appointments with a financial aid counselor.

Family Educational Rights and Privacy Act Crime Awareness and Campus Security Act

The Crime Awareness and Campus Security Act of 1990 requires that we collect, publish and distribute information regarding policies and procedures concerning security, criminal acts, law enforcement, awareness training and drug policy. This information is available for your benefit and may be obtained by contacting Campus Safety at 439-2250 or visit Campus Security website.

Housefellows

Connecticut College recognizes the honor and significant responsibility of being a housefellow. To recognize these factors, the aid award for housefellows will reflect a 50% reduction in the loan component. The student has the option of borrowing to replace the Federal Work Study if housefellow responsibilities are too demanding to allow additional time for work.

Campus Housing (Not college controlled)

Connecticut College is a residential college with enough housing for its students. If a student chooses to live off campus his or her room and board expenses will differ from dormitory expenses. In addition, the financial aid eligibility formula will change which may result in reduced institutional aid eligibility. This policy will be reviewed for unusual circumstances. Financial aid students should arrange an appointment with a financial aid officer to understand how their aid award will be affected.

Personal Leave Statement

When a student is approved for a personal leave, the student is considered withdrawn. Students who have borrowed from loan programs will be required to have an exit interview.

A student who has been approved for a personal leave should arrange an appointment with a Financial Aid staff person to understand their rights, responsibilities and repayment obligations pertaining to the student¹s loans. The lenders will be notified of the student's last date of attendance.

Refund Policy for TITLE IV Financial Aid Refunds (Federal Funds Only)

When a recipient of a federal grant or loan completely withdraws from Connecticut College during the semester, the College must calculate the amount of Title IV (federal) grant or loan assistance that the student earned as of the withdrawal date.The federal programs subject to this refund policy are: Federal Pell Grant, Federal Academic Competitiveness Grant, National SMART Grant, Federal Stafford Loan, Federal Supplemental Education Opportunity Grant (SEOG), Federal Perkins Loan, Federal Parent Loan for Undergraduate Students (PLUS) and other grant or loan assistance authorized by Title IV of the Higher Education Act, as amended.

Federal Student Aid funds are awarded based on the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws during a period of enrollment the amount of federal aid that was earned up to that point is determined by a specific formula. If a student received (or school or parent received on the student's behalf) less assistance than the amount earned, the student may be able to receive those additional funds. If a student received more assistance than what was earned, the excess funds must be returned by the school and/or the student. The amount of assistance that is earned is determined on a pro rata basis. For example, if a student completed 30% of a period of enrollment, then the student has earned 30% of the assistance that was scheduled to be received. Once a student has completed more than 60% of the period of enrollment, then the student has earned all the assistance that was scheduled to be received for that period.

If a student did not receive all of the funds that were earned, a post-withdrawal disbursement may be due to the student. If the post-withdrawal disbursement includes loan funds, the student can choose to decline the loan funds so that additional debt is not incurred. Connecticut College can use all or a portion of the post-withdrawal disbursement (including loan funds, if accepted by the student) for tuition, fees, and room and board charges. For all other school charges, the school needs the student's permission to use the post-withdrawal disbursement. If permission is not given, the student will be offered the funds. However, it may be in the student's best interest to allow the school to keep the funds to reduce your debt at the school.

There are some FSA funds that were scheduled to be received that cannot be earned once a student has withdrawn because of other eligibility requirements. For example, if a student is a first-time, first-year undergraduate and the first 30 days of program has not passed before withdrawal, the student will not earn any Federal Stafford or PLUS loan funds that would have been received had the student remained enrolled past the 30th day.

If a student received (or the school or parent received on the student's behalf ) excess federal program funds that must be returned, Connecticut College must return a portion of the excess equal to the lesser of

1. the institutional charges multiplied by the unearned percentage of funds, or
2. the entire amount of excess funds.

Connecticut College must return this amount even if it didn't keep this amount of the federal program funds. If Connecticut College is not required to return all of the excess funds, the student must return the remaining amount. Any loan funds that must be returned, the student (or parent for a PLUS Loan) will repay in accordance with the terms of the promissory note. That is, the student must make scheduled payments to the holder of the loan over a period of time.

Any amount of unearned grant funds that the student must return is called an overpayment. The amount of a grant overpayment that must be repaid is half of the unearned amount. The student must make arrangements with Connecticut College or the Department of Education to return the unearned grant funds.

The requirements for federal funds when a student withdraws are separate from Connecticut College's refund policy for institutional aid (refer to the section Institutional Aid Refund Policy). Therefore, a student may still owe funds to the college to cover unpaid institutional charges. Connecticut College may also charge a student for any FSA program funds that the school was required to return.

If you have questions about the federal program funds, you can call the Federal Student Aid Information Center at 1-800-4-FEDAID (1-800-433-3243). TTY users may call 1-800-730-8913. Information is also available on Student Aid on the Web at www.studentaid.ed.gov. Sample worksheets are available for your review by contacting the staff in Financial Aid Services.

INSTITUTIONAL AID REFUND POLICY

Once the calculation for federal refunds has been determined, the refund on institutional aid will be calculated on a sliding scale based on the tuition and board refund policy as described in the college catalog. Once the refund amount has been determined, the refund will be made in the following order:Connecticut College Loan, Connecticut College Grant, and Parent and/or Student loans.

Sample worksheets are available for your review by contacting the staff in Financial Aid Services at 439-2058.

Special Student Status

Students who have been admitted to the college and enrolled less than half-time may be eligible to receive a Federal Pell Grant and campus based programs: Federal Work Study, Federal Supplemental Educational Opportunity Grant, and Federal Perkins Loan, providing the student is making satisfactory academic progress toward a degree.

If enrolled less than half-time, the student is not eligible for the Federal Family Education Loan (FFEL) program or the Federal Direct Student Loan program. Connecticut College aid can only be offered to a student who has been admitted to the college and attends at least half-time, and is making satisfactory academic progress toward a degree.

No aid is available for guest students who attend Connecticut College on the 12-College Exchange program or National Theater Institute. Those students should apply through their home institution.

If a student decides to switch majors and requires additional credits beyond the 128 credits needed to graduate, financial aid will only cover up to the 128 credits. A student who changes to Special Student status is ineligible for Connecticut College aid. If a student has received loans for prior years, those loans may enter repayment.

Please consult a Financial Aid Officer to understand all the implications regarding this status.

Study Away Policy

Financial Aid is available to assist students on an approved study away program. Important policies and procedures Students attending a program not approved by The Office of National and International Studies are not eligible for financial aid assistance. No student will receive a Connecticut College grant in excess of what would have been received if the student remained on campus. A student can appeal this decision based on documented special circumstances. Connecticut College will charge its own comprehensive fee for all study away programs.

The College will remit payment to the host program pending verification of enrollment. The Financial Aid Office will verify enrollment with the host program before any federal/state/college aid is disbursed to the student's account. All students are responsible for paying host program directly for application fees, deposits, etc. The deposit will be deducted from the Connecticut College bill once confirmation of payment has been received from the host program. Students should be prepared to incur out-of-pocket expenses for books, supplies, personal, travel, etc. The host program can provide guidance on these expenses based on averages incurred by other students. The College will not replace the Federal Work Study award with College grants.

Last Modified: Wednesday, November 07, 2007 9:38

Connecticut College

FInancial Aid Policy

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