6 Financial Aid Facts You Must Know

Quick facts to help you navigate financial aid.
  1. The 5 different forms of Federal Title 4 aid or Financial Aid at CNM are;
    - Pell Grant
    - Federal Subsidized loan
    - Federal Unsubsidized loan
    - Parent PLUS loan
    - Federal Supplemental (SEOG) Grant

  2. CNM pays out financial aid (you may hear us say, “disburse,” same thing) about 2 weeks after the first day of classes.
    Tip: If your classes start on different dates, your financial aid may get paid out at different times.

  3. The fastest way to get your financial aid is by setting up direct deposit. The money goes directly into your bank account!

  4. Attending and completing your classes is the only way you can keep 100% of your financial aid. If you drop classes you will have to pay back some or all of the aid you received.

    Tip: Sometimes dropping a class is inevitable. IF you MUST drop your class or classes please talk to our Financial Aid team BEFORE taking any action. We are here to help, not judge!

  5. Changing the grading option to Audit for any class is the same (in the federal government’s eyes) as dropping because you can’t earn credit for the class. The whole point of financial aid is to help you earn college credit and graduate! If you do change the grade mode to audit, the date the grading option is changed will be considered the last day you attended the class.

  6. To make sure you can keep getting financial aid you need to complete your classes and keep a 2.0 GPA or better in all your classes combined (you’ll hear people call it cumulative GPA) and you need to keep taking classes that will help you complete your program. We call this Satisfactory Academic Progress or SAP.