Financial Aid and Scholarships

Scholarships

Scholarships are available for full-time students that meet eligibility criteria for academics (including GED from Cowley), activities, athletics, and department. *Students may only receive one scholarship per semester with exception to Cowley College Foundation scholarships.

All scholarships can be completed online at http://www.cowley.edu/scholarships/index.html

Departmental/Activity Scholarships

1. New students must apply for admission before being considered for scholarships. If you are a returning Cowley College student, or have already applied for admission, continue to the next step.
2. Visit our Web site for individual online department or activity scholarship applications at http://www.cowley.edu/scholarships/index.html
   Choose and complete each scholarship that you have an interest in. Scholarship requirements are listed for each scholarship.
3. Apply for federal financial aid using the FAFSA (Free Application for Federal Student Aid).
4. Send a copy of current college (excluding Cowley College) and high school transcripts.

Cowley College Foundation Scholarships

1. Visit our Alumni & Friends website to complete the online application on the Cowley College Web site: https://cowleyfoundation.org/scholarships/apply-for-a-scholarship/
2. Apply for federal financial aid using the FAFSA (Free Application for Federal Student Aid).
3. Send a copy of current college (excluding Cowley College) and high school transcripts. Cowley College Foundation Scholarships can be stacked with academic, activity and departmental scholarships. They cannot be combined with athletics.

Please read the terms of your scholarship contract carefully as each scholarship has different criteria. The priority deadline for fall scholarship applications is February 15.

The priority deadline for spring scholarship applications is October 15.

Financial Aid

The Financial Aid office will make every effort to meet the college-related costs of each qualified student based on eligibility criteria, satisfactory academic progress, and availability.

Federal Aid

Federal Financial Aid is available to those who qualify.

The Federal Financial Aid programs offered through Cowley College are Pell Grants, Supplemental Education Opportunity Grants (SEOG), Work Study, and the Direct Education Loan Program (Stafford loans). Go to http://www.cowley.edu/finaid/index.html for more information.

Federal Aid Eligibility

Students will be eligible for federal financial aid if they meet several important criteria:

• Demonstrate financial need (except for Unsubsidized Stafford Loans).
• Have a high school diploma, GED, or completion of a high school education in a home school setting that is treated as a home school or private school under state law.
• Be enrolled as a regular student working toward a degree or certificate in an eligible program. (You may not receive aid for e-learning courses unless they are part of an associate’s program.)
• Be a U.S. citizen or eligible non-citizen.
• Have a valid Social Security number.
• Meet Satisfactory Academic Progress standards set by the college you are attending. Cowley College will award federal aid up to 95 attempted credit hours. See progress policy for further guidance.
• Certify that you will use federal student aid only for educational purposes.
• Certify that you are not in default on a federal student loan and that you do not owe money back on a federal student grant.
• Comply with Selective Service Registration, if required. (Males age 18 through 25 must be registered with Selective Service to receive federal aid.)

Federal Aid Application Process

Complete the Free Application for Federal Student Aid (FAFSA) with one of three options listed:

• Option #1: APPLY ONLINE - The quickest way to apply is online using FAFSA on the Web at www.fafsa.ed.gov
• Option #2: DOWNLOAD PDF VERSION - Go to www.FederalStudentAid.ed.gov and download a PDF version of the FAFSA.
• Option #3: REQUEST A PAPER COPY BE MAILED TO YOU - Call 1-800-4-FED-AID and request a paper application be mailed to you.

Each year the Department of Education selects a percentage of FAFSA applications for verification through a random selection process. Students selected for verification will have to provide additional documentation to the Financial Aid office to complete their financial aid file.

You must reapply for federal aid each new academic year.

Student Loan Application Process

Students must be enrolled in and attending at least six (6) credit hours per semester at Cowley College to receive a Stafford loan. (Summer hours are calculated the same as any other semester. You still have to have six (6) credit hours to be eligible for a loan.)

How to Apply for a Direct Stafford Student Loan

1. Complete the Free Application for Federal Student Aid (FAFSA). Available online at www.fafsa.gov.
2. Complete financial aid file, returning all requested documentation to the Financial Aid Office (if selected for verification).
3. Accept or Decline aid on your Financial Aid Portal.
4. Complete the online loan steps for Direct Stafford Loans at www.studentloans.gov. You must complete the Entrance Counseling and the Master Promissory Note (for subsidized/unsubsidized Stafford loans).
5. For Additional Unsubsidized Stafford Funds - Complete the request form on your Financial Aid Portal under the Additional Unsub Loan Request tab. Any funds requested with this form are in addition to the base loan(s) offered. Please borrow responsibly.

Once all of the above steps have been completed, the Department of Education (DOE) will send Cowley College notification of a loan to certify for that student. The Financial Aid Office will process the loan. The Department of Education will send the first disbursement of the Direct Stafford loan to the college via EFT (Electronic Funds Transfer) according to the disbursement dates requested by the school. The DOE will notify the student of the loan details by mailing them a Disclosure Statement. Funds will be credited to the students’ accounts and will pay unpaid charges in the following order: tuition, fees, books, dorm, and any other remaining charges. Any excess loan funds due to the student after the account is paid in full will be mailed to the student. (Make sure your address is current with the Admissions Office)

All student loans are processed in two disbursements. If the student is borrowing for only one semester, the loan will be disbursed in two checks within that one semester, with the second disbursement being at midterm. If the student is borrowing for the academic year (two semesters), the loan will be disbursed in one check each semester. Each disbursement will have an origination fee and a guarantee fee deducted by the DOE.

A disbursement schedule can be found at http://www.cowley.edu/finaid/disbursement.html. The dates listed on the disbursement schedule are the dates the refund checks will be placed in the mail. (The disbursement dates listed on the disclosure statement are the dates funds are made available to the school for processing) No refund checks will be released prior to the disbursement schedule dates. Loans processed after the initial disbursement schedule date will be mailed every Friday thereafter.

All student loan borrowers are subject to the Satisfactory Academic Progress Policy established by Cowley College. The policy can be found online at http://www.cowley.edu/finaid/policies.html. Students, who drop below six (6) credit hours before a loan is disbursed, will not receive that disbursement. The loan will be returned to the lender and cancelled.

Cowley College policy on loan limits per academic year (two semesters): Freshman (1-30 completed hours) $3500 year. Sophomore (31-or more completed hours) $4500 year. If a student applies for a loan for a single semester, the maximum allowed will be ½ of the yearly limit.

If a student wishes to borrow less on a Stafford Loan than the amount offered, simply adjust the amount on your Awards tab in the Financial Aid Portal when accepting. If requesting a one semester loan, email financialaid@cowley.edu to verify the one semester loan amount and loan period requested. Otherwise, all changes to loan are assumed to be requested for the academic year.

Additional Unsubsidized Direct Stafford Loan funds are available to “Dependent” and “Independent” students. To request Additional Unsubsidized Direct Stafford funds, complete the request form (step #5 on previous page) on the Financial Aid Portal. The maximum limit on Additional Unsubsidized funds is $2000 per academic year for dependent students and $6000 per academic year for independent students. Eligibility for additional unsubsidized Stafford funds is determined on the students cost of attendance minus all other aid. Some students may not qualify for the full amount requested.

Financial Aid and Payment of Account

Students who wish to have their federal aid (Pell Grants and/or Student Loans) considered for payment of tuition and fees must apply for federal aid and have complete financial aid files by August 1 for the fall semester, December 1 for the spring semester, and May 1 for the summer semester.

Students whose files are not complete by the deadline will be required to pay all enrollment costs by the payment due date for the semester and will be reimbursed once eligibility is established.

Financial aid will be applied toward the enrollment costs of tuition, fees, books, and on-campus housing first. Any remaining financial aid funds will be refunded to the student. If the amount of the financial aid awarded is not enough to cover the enrollment costs, the student is responsible for payment of the balance on their account.

Satisfactory Academic Progress Policy for Federal Aid Recipients

Cowley College recognizes the need to provide financial assistance to qualified students. Federal regulations require students receiving federal aid to make “satisfactory academic progress” in order to continue receiving federal aid. Progress of all students on federal aid will be measured at the end of each semester based on final grades and hours completed. The following procedures will be used to determine eligibility and the awarding of federal aid:

1. A student’s eligibility for federal financial aid will be evaluated on approved need, enrollment in a degree or a certificate program, satisfactory academic progress, and availability of funds.
2. Any student who has exceeded 95 attempted credit hours at is not eligible to receive Title IV aid at Cowley College regardless of whether or not financial aid had been used by the student previously.
3. Satisfactory Academic Progress (SAP) is defined as follows: The student must complete a minimum of 67% of the hours attempted with a grade point average of 1.75 or above each semester. The following cumulative GPA requirements must also be met:

4. The Financial Aid Office reserves the right to use professional judgment in monitoring cumulative GPA’s if a student has made satisfactory progress within the current semester.
5. Students who fail to meet SAP will be placed on financial aid warning status. Federal aid warning status is defined as a semester in which the student must achieve satisfactory progress or they will then be placed on financial aid denial in the following semester. Students who have been placed on warning status will not receive their federal aid during the warning semester until they have completed the Warning Acknowledgement and the Warning Quiz.
6. Students receiving federal financial aid who do a complete withdrawal from courses or who fail all enrolled courses will be placed immediately on financial aid denial status. Denied students are not eligible for financial aid of any kind, including Federal Direct student loans.
7. The student’s warning status for federal financial aid eligibility will be automatically removed after he/she meets satisfactory academic progress during the warning semester. It is the student’s responsibility to reapply for federal financial aid each year.
8. Students on federal financial aid denial will not be eligible for further federal aid funds at Cowley College until they have successfully completed and paid for six (6) credit hours financial aid.
9. Students have the right to appeal federal financial aid denial by completing the Financial Aid Appeal form and submitting it to the Financial Aid Office. Students will be notified of the decision in writing to the address on file and through email.

If you have questions regarding this policy, you may contact the Financial Aid Office.

Appeal Process

Students receiving federal financial aid have the right to appeal a financial aid decision if they feel their academic performance or complete withdrawal can be attributed to special circumstances. The appeal process is as follows:

• Complete the Financial Aid Appeal Form and submit a letter of appeal to the Financial Aid Office.
• The appeal will then be presented to the Executive Director of Enrollment Management for review.
• The student will be notified by mail within a reasonable amount of time as to the decision to either reinstate financial aid or uphold the suspension.
• Questions regarding the Satisfactory Academic Progress policy may be directed to the Financial Aid office.

Repayment Policy

Title IV recipients may be subject to repayment of federal aid as a result of official or unofficial withdrawals.

Verification Policy for Federal Aid Recipients

All FAFSAs selected by the Central Processing System (CPS) will be verified 100% by the Financial Aid Office. Any FAFSA with an asterisk beside the EFC number on the Student Aid Report (SAR) has been selected.

Documentation required for verification (but not limited to) will be:

1. IRS Tax Return Transcript (for both the student and parents if applicable). Order this transcript at www.IRS.gov. (Copies of tax returns cannot be accepted)
2. Untaxed income such as deferred compensation, child support received and/or paid out, or workers compensation.
3. Student Certification Form (Print from your Financial Aid Portal)
4. Verification Worksheet (Print from your Financial Aid Portal)
5. High School Transcript, GED, or Home School Diploma.

The Financial Aid Office will inform the student by email of the verification process and what items will be needed to complete their file. Students will access their Financial Aid Portals to view documentation needed and print forms needed.

The Financial Aid Office reserves the right to select any file for verification that appears to have conflicting or incorrect information listed.

Students may turn in paperwork to complete their files in person, by email, mail, or fax to the following locations:

Consortium Agreement Policy

A Consortium Agreement is an agreement entered between two colleges for the purpose of determining and disbursing federal aid for a student who is enrolled in both colleges within the same semester. Only one college can disburse aid to a student within the same semester. The Consortium Agreement allows the “home” institution to include the hours and costs at the “host” institution when determining the student’s federal aid eligibility for the semester.

To initiate a Consortium Agreement, the student must provide a copy of their enrollment at the “host” institution to the Financial Aid office at the “home” institution. The “home” institution is the college that will be disbursing aid to the student. The “home” institution will send the Consortium Agreement to the Financial Aid office of the “host” for verification of enrollment and costs. The tuition and fee portion of the student budget will be adjusted to reflect the respective tuition rate for courses taken at each institution. The student’s aid eligibility will be determined based on the total number of hours enrolled and costs of the two colleges.

The student will be responsible for payment at the “host” institution according to their payment policy and deadlines. Cowley College will not send payments to the other college. All aid will be disbursed to the student according to Cowley College’s disbursement schedules.

Satisfactory progress will be monitored and administered according to the progress policy of Cowley College for the semester indicated in the agreement.

The student will be responsible for providing a completed grade transcript from the “host” college to Cowley College upon completion of the semester included in the agreement. Failure to provide transcripts of completed courses will result in the student’s records being placed on hold at Cowley College. No further aid will be processed at Cowley College until all transcripts of grades are received.

Students receiving Stafford Loans only must be enrolled in at least six (6) credit hours at Cowley College to initiate a Consortium Agreement.

Consortium Agreements must be renewed each semester. It is the student’s responsibility to initiate the process by informing the Financial Aid office of their enrollment.

Student Employment Process

Applicants must complete a Work Study Application and submit it to the Admissions Office.

Applicant must complete the Free Application for Federal Student Aid (available in the Financial Aid office or online at www.fafsa.ed.gov). International students are exempt from this requirement. Work study positions are not guaranteed and are based on student eligibility of federal work study funds, available funds available for positions, and supervisor selections for open positions.

Student must complete required paperwork for payroll. This paperwork must be completed prior to their start date. Two forms of I.D. are required from the student. See the I-9 form for details on acceptable I.D. (Most common forms are a current Driver’s License and the Social Security Card). A Work Study Orientation will be held the week of student orientation. Students can complete the payroll paperwork at this session. Students are not to begin work until all payroll paperwork has been completed.

Scheduling of work hours will be at the discretion of the supervisor and subject to the allocated hours for that department. The work-study academic year is based on a 30-week schedule. Pay periods will be September, October, November, December, February, March, April, and May. Students are not required to work during finals, holidays, or spring break. Payroll checks are issued on the last business day of each month in the payroll office.