Financial Aid

Columbia College’s financial aid program exists to make education affordable for all students who qualify. The College believes that if students desire to attend college they should not be prevented from doing so simply because they lack sufficient funds. Financial aid is not intended to cover all student expenses. While the primary financial responsibility for education rests with the students and their families, Columbia College is committed to helping students bridge the gap between the cost of a college education and what the student can afford to pay.

Financial aid is monetary assistance to help the student meet the expenses of attending college. Aid may be in the form of grants, student employment, loans, scholarships, types of outside assistance, or a combination thereof.

Determination of Federal Financial Aid Award

Financial need for federal and state aid is determined in the following manner:

Cost of Attendance

From August, 2014 to May, 2015:

Military Student Cost of Attendance*

From August, 2014 to May, 2015:

*For students living in housing on a military base or housing for which they receive a basic allowance, the room and board cost of attendance component may include an allowance for board only.

Cost of Attendance: Estimated allowances for tuition, books, room and board, transportation, and personal expenses. Cap on amount of aid (from any source) that a student can receive.

EFC: Estimated Family Contribution. EFC is determined by FAFSA.

Financial need: Cost of Attendance minus EFC.

Unmet need: Cost of Attendance minus EFC minus awarded aid.

Unmet cost: Cost of Attendance minus aid awarded.

Once the Expected Family Contribution (EFC) and financial need have been determined, the student’s information is reviewed. The student is offered an aid package that may consist of grants, scholarships, outside assistance, loans and/or Federal Work-Study. A federal aid recipient’s aid package may not exceed Cost of Attendance.

Students are responsible for reporting to the Financial Aid Office all assistance received from outside sources, as federal law requires that all outside assistance be considered as a part of the financial aid package. These types of assistance include such aid as Veteran’s Benefits, outside scholarships, military or corporate tuition assistance, vocational rehabilitation or other state aid. Federal guidelines require that a student not exceed the cost of attendance in the amount of aid they receive.

A student’s loan amount is determined as a part of the aid package. A student’s loan eligibility is based on factors that include annual loan limits, unmet need, and federal aggregate limits. In addition, if a student has less than an academic year remaining in the degree program, the loan is prorated, per federal guidelines.

A student who completes the academic requirements for a program but does not yet have the degree is not eligible for further federal aid for that program.

Notification of Financial Aid Status and Awards

College e-mail addresses are assigned to all Columbia College applicants (see Resources ). The Financial Aid Office corresponds with students primarily via e-mail regarding the status of their financial aid application and notification of financial aid estimated awards. Correspondence sent via e-mail is not sent via postal mail. Students should check their college e-mail on a regular basis and are responsible for information sent even when school is not in session.

Students may access their financial aid award estimate(s) through the CougarTrack link on Columbia College’s website. The financial aid electronic award notifications and associated links in the notification discuss eligibility requirements and other important information. Students should carefully review their electronic award notifications and are responsible to read and understand all included information. Students should accept or decline the aid that is offered to them through the electronic award notification process. Students must provide documentation if they are receiving an outside form of financial assistance not listed in the award notification.

Attendance

Financial aid is awarded to a student with the expectation that the student will attend school for the period for which the assistance is awarded. If a student does not begin attendance in all of his or her classes, the aid must be recalculated based on the actual attendance. Students who are not in attendance for the courses in which they enrolled are not eligible to receive financial aid.

Aid Disbursement

A student’s financial aid (except Federal Work-Study) is credited directly to his/her student account and applied to tuition and fees each term. Aid funds are credited for other charges with authorization from the student through the electronic award notification process. Federal Work-Study funds are paid in the form of a biweekly paycheck to the student. Funds are paid for authorized hours worked.

When a student registers for courses, he/she may deduct the amount of aid that has been awarded (except Federal Work-Study) from what is owed to the college. If a student’s financial aid awards exceed his/her charges, the student receives a refund. A student may use excess financial aid prior to the start of a term to purchase books by using a book voucher. If you are eligible for a book voucher, contact Registration and Financial Services to obtain information. Refund dates are posted on the Financial Aid website under “Important Dates.”

Withdrawal from College

After classes begin, tuition charges (if applicable) are determined by the following schedule, in the event that the student completes a total withdrawal from Columbia College:

For students who are recipients of federal Title IV student aid, refunds will be made in accordance with federal regulation 34 CFR 668.22. A current schedule is available in the Enrollment Service Center and in the Financial Aid  portion of the course catalog.

Students receiving financial assistance should be aware that their financial aid package could be affected should they elect to drop a course.

Scholarships

Scholarships, awards and grants are forms of “gift” assistance that do not require repayment. Institutional aid is generally intended for tuition assistance. Endowed scholarships and awards are made through the generous gifts of alumni and friends of Columbia College. These awards are competitive and are primarily based on academic performance. Generally, scholarships, awards and grants are non-need based forms of financial assistance.

Due to federal regulations, scholarships and awards may be affected if you are receiving federal and/or state financial aid.

Post-Baccalaureate Status

Post-baccalaureate programs at Columbia College are programs for students who have completed a bachelor’s degree but must complete undergraduate prerequisite course work before being fully admitted to the master’s program of their choice. Federal financial aid regulations require that the Financial Aid Office differentiate these students from fully admitted masters students when awarding aid. While post-baccalaureate students are not considered degree seeking, they do have eligibility for some types of aid. Graduate students may be eligible for direct loans. The student’s direct loan eligibility begins at the time of enrollment in the first post-baccalaureate course. From the beginning of direct loan eligibility, a post-baccalaureate student has 12 months to complete all required post-baccalaureate courses. Post-baccalaureate students are considered to be undergraduate students for federal financial aid purposes; these students also must complete the following items to be eligible for aid.

Master of Arts in Teaching Post-Baccalaureate or Alternative Certification

Master of Arts in Teaching Post-Baccalaureate program (MAT.PB) and Master of Arts in Teaching Alternative Certification (MAT.AC) are programs for students who have completed a bachelor’s degree and are interested in receiving their teacher certification. A student who is interested in teaching elementary, middle-level or high school usually must have teacher certification before being fully admitted to the Master of Arts in Teaching Program. MAT.PB students are considered to be undergraduate students for federal financial aid purposes; these students also must complete the following items to be eligible for aid:

1. Be admitted to the MAT.PB program.
2. Complete the FAFSA. Students must answer the following questions as indicated below:
   1. Question 29, “When you begin the 2014-2015 school year, what will be your grade level?” will need to be answered “5th year/other/undergraduate.”
   2. Question 30, “When you begin the 2014-2015 school year, what degree or certificate will you be working?” will need to be answered “Teaching credential (non-degree program).”
   3. Question 48, “At the beginning of the 2014-2015 school year, will you be working on a master’s or doctoral program (such as an MA, MBA, MD, JD, Ph.D., Ed.D., or graduate certificate, etc.)? will need to be answered “No” for not working on a master’s program.
3. Have a list of classes that must be completed for completion of teacher certification submitted from Columbia College’s Education Office at Main Campus.

MAT.PB students must have a list of classes that are needed to complete teacher certification in their financial aid file. An MAT.PB student may only take courses that are on the list of classes from the Education Office while receiving financial aid. Enrolling in a course that is not on the list will affect the student’s financial aid.

Master of Business Administration Post-Baccalaureate

Master of Business Administration Post-Baccalaureate program (MBA.PB) is a program for students who have completed a bachelor’s degree but must complete undergraduate prerequisite courses before becoming fully admitted to the Master of Business Administration program (MBA). MBA.PB students may be eligible for federal loans. Their federal loan eligibility begins at the time of enrollments in the first post baccalaureate course. From the beginning of federal loan eligibility an MBA.PB student has 12 months to complete all required post baccalaureate courses. MBA.PB students are considered to be undergraduate students for federal financial aid purposes; these students also must complete the following items to be eligible for aid.

1. Be fully admitted to the MBA.PB program.
2. Complete the FAFSA. Students must answer the following questions as indicated below:
   1. Question 29, “When you begin the 2014-2015 school year, what will be your grade level?” will need to be answered “5th year other/undergraduate.”
   2. Question 30, “When you begin the 2014-2015 school year, what degree or certificate will you be working on?” will need to be answered “other/undecided.”
   3. Question 48, “At the beginning of the 2014-2015 school year, will you be working on a Master’s or Doctoral program (such as an MA, MBA, MD, JD, Ph.D., Ed.D., or graduate certificate, etc.)? will need to be answered “no” for not working on a master’s program.

Once the 12 month period of time is over, a student must be fully admitted into the MBA program in order to continue receiving federal aid. Once the student is fully admitted to the MBA program the student should contact the Financial Aid Office to have aid processed at graduate levels. Once a student is fully admitted to the MBA program, the student will need to update the answers on the FAFSA to the following questions.

1. Question 29, “When you begin the 2014-2015 school year, what will be your grade level?” will need to be answered “first year graduate/professional.”
2. Question 30, “When you begin the 2014-2015 school year, what degree or certificate will you be working on?” will need to be answered “Graduate or professional degree.”
3. Question 48, “At the beginning of the 2014-2015 school year, will you be working on a master’s or doctoral program (such as an MA, MBA, MD, JD, Ph.D., Ed.D., or graduate certificate, etc.)? will need to be answered “yes” for working on a master’s program.

Master of Science in Criminal Justice Post-Baccalaureate

Master of Science in Criminal Justice Post Baccalaureate program (MSCJ.PB) is a program for students who have completed a bachelor’s degree but must complete undergraduate prerequisite courses before becoming fully admitted in the Master of Science in Criminal Justice program (MSCJ). MSCJ. PB students may be eligible for federal loans. Their federal loan eligibility begins at the time of enrollment in the first post-baccalaureate course. From the beginning of federal loan eligibility an MSCJ.PB student has 12 months to complete all required post-baccalaureate courses. MSCJ.PB students are considered to be undergraduate students for federal financial aid purposes; these students also must complete the following items to be eligible for aid:

1. Be fully admitted to the MSCJ.PB program.
2. Complete the FAFSA. Students must answer the following questions as indicated below:
   1. Question 29, “When you begin the 2014-2015 school year, what will be your grade level?” will need to be answered “5th year other/undergraduate.”
   2. Question 30, “When you begin the 2014-2015 school year, what degree or certificate will you be working on?” will need to be answered “Teaching credential (non-degree program).”
   3. Question 48, “At the beginning of the 2014-2015 school year, will you be working on a master’s or doctoral program (such as an MA, MBA, MD, JD, Ph.D., Ed.D., or graduate certificate, etc.)? will need to be answered “no” for not working on a master’s program.

Once the 12 month period of time is over, a student must be fully admitted into the MSCJ program in order to continue receiving federal aid. Once the student is fully admitted to the MSCJ program the student should contact the Financial Aid Office to have aid processed at graduate levels. Once a student is fully admitted to the MSCJ program, the student will need to update the answers on the FAFSA to the following questions.

1. Question 29, “When you begin the 2014-2015 school year, what will be your grade level?” will need to be answered “first year graduate/professional.”
2. Question 30, “When you begin the 2014-2015 school year, what degree or certificate will you be working?” will need to be answered “Graduate or professional degree.”
3. Question 48, “At the beginning of the 2014-2015 school year, will you be working on a master’s or doctoral program (such as an MA, MBA, MD, JD, Ph.D., Ed.D., or graduate certificate, etc.)? will need to be answered “yes” for working on a master’s program.