Financial aid policies

 

Financial aid policies

1. The primary purpose of federal financial aid is to provide students with resources to be able to attend college.  Federal Financial Aid funds are to be used for expenses related to gaining an education, including living expenses, child care while in class, transportation to class, etc.  Any other use of financial aid dollars is a violation of federal regulations.

2. A student must apply for financial aid annually by submitting the FAFSA.  This process begins in February for returning students for the following academic year.  Loans are not automatically renewed.

3. A student may accept all or part of the award(s) offered.  Please only take the amount of loans you need!  These are loans and must be repaid.

4. Failure to accept financial aid and/or respond to all required documents may result in the cancellation of federal aid offered.

5. Federal Direct Stafford Loan amounts do not reflect any required fees that may be charged.  Fees will be deducted before Concordia receives the money.

6. The total of all financial aid may not exceed the cost of attendance for the year.

7. A student is required to report in writing to the Financial Aid Office any third-party resources received to assist with educational expenses. These include but are not limited to employer reimbursements, veteran or military benefits, outside scholarships or grants, vocational rehabilitation, etc.

8. A student must notify the Graduate Admissions Office of any change in permanent address including phone numbers and email address.

9.A student must notify the Graduate Financial Aid Office of any change in enrollment status. A change in enrollment may impact a student’s financial aid eligibility.

10. Aid is credited against applicable costs of tuition at disbursement each term. If aid does not pay the total student charges, or if the student fails to take appropriate actions to allow the disbursement to occur, the balance due to Concordia University must be paid from personal resources.

11. The withdrawal process is a formal process that begins with the student.  The Student Withdrawal Form (available on the portal) must be completed and forwarded to your advisor or Program Director.

12. If a student withdraws from some or all classes and is eligible for a refund of money already paid, financial aid may be adjusted according to a federally prescribed formula (Return to Title IV Funds). The adjustment may include refunding loan proceeds back to the U.S. Department of Education that paid an initial tuition balance, therefore causing a balance due from the student to Concordia.

13. The Financial Aid Office reserves the rights to review, modify, or cancel any financial aid offers at any time on the basis of information affecting the student’s eligibility.