Financial Aid
All students applying for financial aid should first complete the FAFSA, the Free Application for Federal Student Aid. This information is used to determine whether you are eligible for federal grants, certain scholarships and work-study programs. Learn more about the FASFA.
Types of Financial Aid
| Need to be repaid | Based on financial need | Based on grades | |
|---|---|---|---|
| Federal Financial Aid (Pell grant) | no | yes | yes (You must pass your classes.) |
| Work-study | no | yes | yes (You must pass your classes.) |
| Scholarships | no | sometimes | some have minimum GPAs |
| Loans | yes | Subsidized loans are based on need. Unsubsidized loans are not based on need. |
yes (You must pass your classes.) |
*Federal Financial Aid (Pell Grant)
Federal financial aid is awarded based on financial need and other criteria. It does not have to be repaid after you graduate.
*Scholarships
Scholarships can be awarded based on grades, financial need or other qualifications. They do not have to be repaid.
*Work-Study Program
A work-study program allows students to receive financial aid while they work on campus. Positions are awarded based on financial need and other criteria.
*Loans
Loans are funds that have to be repaid after graduation.
Year–Round Pell
An eligible student may now receive a full Federal Pell Grant for summer 2019 even if they received a full Federal Pell Grant during the fall and spring semesters. Year-round Pell allows students to receive up to 150 percent of a regular grant award over the course of the academic year so that they can continue taking classes in the summer and finish their degrees faster than they would otherwise. With careful planning, Pell Grant recipients may take advantage of this new regulation to earn their degree faster. However, students should keep in mind that the summer term is shorter (8-10 weeks) than fall and spring semesters (16 weeks). Students should consult with their academic advisor to develop a manageable course load for the shorter summer term. Just because students may be eligible for full-time Pell Grant funds does not mean students are required to carry a full-time load.
Note: The provisions of the new law state that any Pell Grant received will be included in determining the student’s Pell Grant duration of eligibility and Lifetime Eligibility Used (LEU).
To be eligible for additional Pell Grant funds:
- student must be otherwise eligible to receive Pell Grant funds for the payment period,
- student must be enrolled at least half-time in the payment period(s) (6 credit hours) during the summer term, and
- student must be maintaining satisfactory academic progress
Applying for Financial Aid at COM
Priority Application Deadlines
The most successful financial aid applicants submit all applications and documentation well before class registration to ensure they are eligible to receive the most funding.
Financial aid applicants are encouraged to submit all required financial aid documents by the following deadlines:
- Fall – June 1
- Spring – Nov. 1
- Summer – May 1
Applications submitted after these dates will be processed on a first-come, first-served basis and could be processed after payment deadline dates. In this situation, students must make other payment arrangements before the payment deadlines.
Satisfactory Academic Progress Appeals Meeting Schedule
Students must make satisfactory academic progress (pass their classes) to remain on financial aid. Satisfactory Academic Progress Appeals Meetings are scheduled on the second or third Friday of the month. For information about the upcoming monthly meetings, check with the Financial Aid Office.