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WHAT IS FINANCIAL AID?: Financial aid is money that is provided by federal, state and local governments; colleges; community organizations; and private corporations or individuals to help students meet the cost of attending college. It includes gift aid (grants and scholarships) and self-help aid (loans and student employment).
FINANCIAL AID PACKAGE: When a student applies for aid by completing the FAFSA, s/he does not apply for a particular type or amount of aid. One or more types of aid may be awarded to make up each eligible student's financial aid package.
DETERMINING FINANCIAL NEED: For financial aid purposes, need is defined as the difference between college costs and the amount the federal government determines students and their families can afford to contribute toward college expenses (see NEED ANALYSIS below). Need is determined by the formula:
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Student Budget |
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-Family Contribution |
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=Financial need |
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COLLEGE COSTS (also called Student Budget): The student budget is defined as the total cost of attending the College including tuition, fees, books, and supplies, and an allowance for some living expenses such as rent, food, transportation, clothing, and personal expenses. We have provided an estimate of the average costs for an in-district, full-time student attending CSC. Please remember that the items included are averages; they do not represent the exact cost each student would incur.
Average Cost for Nine Months of
Education at Carl Sandburg College
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Tuition and Fees (2007-2008 amount) |
$2,646 |
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Books and Supplies |
870 |
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Total paid to Carl Sandburg: College |
$3,516 |
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Other Costs you may incur: |
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Transportation |
$1,768 |
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Personal Expenses |
$952 |
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Living Costs |
$3,730 |
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FAMILY CONTRIBUTION: Family contribution is the amount students and their families are expected to contribute toward the cost of a student's education. Family contribution is based on total income and assets as reported on the family's U.S. income tax returns, family size, number of family members in college, and an allowance for basic living expenses. You can obtain an estimate of your family contribution by visiting Finaid.com Web site or College Board at http://finaid.com/calculators/finaidestimate.phtml or http://apps.collegeboard.com/fincalc/servlet/efcCalculatorServ let.
NEED ANALYSIS: The process of determining a student's eligibility for financial aid is called need analysis. The federal aid application collects income and asset information from both the student and his/her parents (if dependent) to determine the family's ability to contribute to educational costs. A standard formula, created by the U.S. Congress, is used to calculate how much individual students and their families (if dependent) can afford to pay for higher education and to determine eligibility for Pell grants.
OVERMET NEED: Overmet need is a term that means that the total amount of financial aid a student is receiving is more than the amount s/he is eligible to receive. The College will notify students directly if their award needs to be adjusted or if they need to repay any funds.
INDEPENDENT STUDENT APPEAL: A student who has unusual circumstances and feels his/her financial aid eligibility should be calculated solely on the basis of student income information, but who does not qualify according to the application, may appeal for independent status by completing the Independent Student Appeal Form. Please contact the Financial Aid Office for this form.
ADDRESS POLICY: The Registration Office and Financial Aid Office maintain student address files for mailing all official documents, including financial disbursements. Students must keep current addresses up-to-date with both the Registration Office and Financial Aid Office.
STUDENT RIGHTS AND RESPONSIBILITIES
Student Rights - You have the right to:
- Know how your financial need is determined, including the cost of attendance, and how your family contribution is calculated.
- Know how and when you will receive student assistance.
- Request an explanation of the type and amount of financial assistance you are receiving.
- If you have a loan, know the type, the interest rate, the amount to be repaid, when you must begin repayment and other cancellation and deferment provisions.
- If you are offered a Federal Work Study job, know the kind of job, what hours you must work, what your duties will be and how and when you will be paid.
- Discuss your financial aid package with a representative of the Financial Aid Office.
- Know how the College determines if you are making satisfactory progress and what happens if you are not.
Student Responsibilities - You are required to:
Report any scholarship, fee waiver, loan, grant, employment earnings or other financial benefits, which you receive form any source other than Carl Sandburg College. Such benefits may result in a revision or cancellation of other financial aid benefits.
Provide copies the college can keep of all documentation requested by the Financial Aid Office or other agencies.
Read and understand all forms that you are asked to sign and maintain copies of them.
Know and comply with all deadlines for application and re-application for financial aid.
Complete the Free Application for Federal Student Aid (FAFSA) correctly and submit it two to three months prior to the semester you plan to attend.
Follow up on any corrections or adjustments as requested.
Perform in a satisfactory manner work agreed upon for Federal Work Study jobs.
Notify your lender(s) of any changes in your name, address or enrollment status if you have a loan and complete and submit exit loan information.
Know and comply with the Collegeīs refund/repayment procedure.
Ineligible Programs/Enrollment For Financial Aid:
Not all programs/courses qualify for financial assistance. Pell, FSEOG, MAP, IIA, Federal Direct Loans, FWSP cannot be used for enrollment in Certified Nurses Assistant course, Cosmetology teacher, noncredit courses and audited courses.
Confidentiality Policy:
The Family Educational Rights and Privacy Act of 1974 (the Buckley Amendment) provides student access to education records and limits dissemination of such information without the studentīs consent. Under the Family Educational Rights and Privacy Act of 1974, you have the right to inspect your financial assistance file. You may review information in our financial assistance and receive copies ($2 each) of information upon written request.
Release of Financial Assistance Information to Another Agency:
You must complete and sign a Financial Assistance Release Form before any information will be released to another agency, parent or spouse. On the release form, you must indicate for which semester(s) you want the financial assistance information released. You must allow 10 days for this processing. Information regarding fees and bookstore charges must be obtained from the Business Office. Your signature on a loan application authorizes Carl Sandburg College to release to the lending institution, subsequent holder, the guarantor, U.S. Department of Education or the agents, any requested information pertinent to your student loan(s).
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