7 Financial Aid Facts You Must Know
7 Financial Aid Facts you MUST know if you have Federal Title 4 aid
- Even though CNM disburses Federal Title 4 aid about 2 weeks AFTER any given semester, or part of term begins, all CNM students receive their Federal Title 4 aid BEFORE they are eligible to keep 100% of it.
- Attending classes is the only way students can keep 100% of their Federal Title 4 aid for any given term. In this specific context, a passing grade is only important in that it demonstrates continued attendance in a term.
- Similarly, students may receive all “F”, or non-passing grades for a term, but as long as they attended their classes, they will keep 100% of their Federal Title 4 aid for that term.
- The 6 different forms of Federal Title 4 aid at CNM are;
Pell Grant
Federal Subsidized loan
Federal Unsubsidized loan
Perkins Loan
Parent PLUS loan
Federal Supplemental (SEOG) Grant - Sometimes dropping a class is inevitable. If students MUST drop a class(es), or stop attending, please talk to anyone in CNM Financial Aid, before dropping or ceasing attendance in any class. We are here to help, not judge – in this specific instance, to help keep students out of debt if possible.
- If a class, or classes are dropped, or students do not attend, or stop attending class(es) for a given term, they may have to repay all, or part of their Federal Title 4 aid for that term. Regulations on Return of Federal Title 4 aid are set by the federal government, not CNM. There is no federal appeal process and there are no exceptions.
- Changing the grading option to Audit for any class is the same (in the federal government’s eyes) as dropping the class. The reasoning is: after the grading option is changed to Audit, students can no longer earn credit in the class. The aim of Federal Title 4 aid is to help students earn credit. The date the grading option is changed will be considered the student’s last date of attendance (for Federal Title 4 aid purposes) for the class.