College does not automatically award student loans. Students must notify the Financial Aid Office of their need for student loans. To get your student loan:
Loan Limits: Student loans are limited to $57,500. Of this amount, no more than $23,000 can be subsidized loans. When a student at Cochise College reaches $23,000 in sudsidized loans, loan eligibility for this type of loan ends. For transfer students, this includes all loan totals from all schools.
Maximum Annual Loan Amounts
First-Time Borrowers: If you are a first-year student and a first time borrower, you will be required to attend class for 30 days before receiving your loan money. This is Department of Education policy and cannot be waived.
Loan Counseling: Each student is required to complete entrance loan counseling before receiving their loan(s). A student must also complete a Master Promissory Note. Likewise, before a student withdraws, graduates, or drops below half-time attendance, regulations require completion of exit counseling. Once you receive a Stafford Loan, you will be required to complete an exit interview before you leave school or fall below 6 credit hours.
PLUS: If you or your parents are applying for a Parent Plus or Alternative Education loan, you must still be processed for financial aid and complete all required documentation. The maximum amount that can be borrowed is equal to the cost of attendance as determined by Cochise College for the loan period, minus ALL other grants, scholarships, third party payments, work-study, resident assistant, fee waivers, or any other outside funds.
Transfer Students: Official academic transcripts will be required of all transfer students who display in NSLDS (National Student Loan Database System) that they have attended previous colleges and/or have substantial student loan debt. Transcripts will be evaluated and restricted enrollment enforced when applicable. Students who have not met our academic standards (2.0 CGPA and completion of 75% of classes attempted) at the prior colleges will be evaluated with the same probation and suspension standards currently in place for Cochise College students. Students who consistently have received W and F grades will be required to complete a minimum of six credit hours with a 2.0 or better GPA using their own resources before federal aid will be approved. For more information, read the Financial Aid Satisfactory Progress policy. Once a student’s total loans from all schools equals $57,500, he/she will no longer be eligible for student loans at Cochise College. A student may choose whatever lender he/she wants, if that lender will do student loans with Cochise college. If a student attended an eligible program at any Title IV intuition prior to July 1, 2012, the student may be considered Title IV eligible under the ATB test.
Disbursement: Loan funds will be sent directly to Cochise College. Your loan will be disbursed in two installments, one half of your loan per semester, except if your loan is only one semester in length. If you have a one-semester loan, the loan usually will be split into two disbursements in that semester. Your loan funds will first be applied to your student account to pay any outstanding balance you may have.
Loan Adjustments: If you have received a loan and other funding is awarded, which brings you to a negative unmet need, your loan award will be adjusted accordingly. In other words, if you have received $500 in loan and you get a $200 scholarship after the loan has been paid, which brings your unmet need to a negative $200, we need to back out $200 from the loan payment. You are not allowed to receive more than the cost of attendance (unmet need).
This chart will show current loan interest rates.
Fees: You will pay a 1 percent origination fee to Direct Lending. Terms and conditions of Title IV Loans may be more favorable than Private education loans.
Repayment: Repayment begins following a six-month grace period after you graduate, withdraw from school, or drop below half-time enrollment.
Refunds: If funds remain once all your charges have been paid, a refund will be processed by the Business Office and sent to your Cochise OneCard account. The first refunds of the term will be produced for students who are registered for classes and have their aid award. These refunds, consisting of grant and scholarship funds, will be sent to the Cochise One Card approximately seven days before the start of the term. The next refunds will be processed and sent after the last date to add classes for the term. Thereafter, refunds are generally processed and sent every Friday. It is your responsibility to make sure that your current mailing address is on file. Address changes should be submitted to the Admissions Office or the Records and Registration Office. Questions regarding your award amount should be addressed to the Financial Aid Office. Once a refund is processed, it can take up to 72 hours for it to show up on your Cochise OneCard account.
More money? If you think your financial aid award will not cover all of your educational costs, you may be eligible for an unsubsidized Stafford Loan. Another option may be the Parent Loan for Undergraduate Students (PLUS), which is available to parents for dependent students. If you have special circumstances that change your financial situation, we have an appeal process.
BEFORE you make a decision on withdrawing, consider the following: Financial aid is awarded to you under the assumption that you will attend classes for the entire semester for which the assistance is awarded. If you totally withdraw from classes prior to the end of the semester, you may no longer be eligible for the full amount of funds that you were originally scheduled to receive. You may also be required to repay the government and/or college. You will also be reported to a national database and lose eligibility at all colleges until the debt is repaid. The best advice is to “Stay In School.”
The Financial Aid Office assists students in obtaining their academic goals and ensures that compliance standards are applied in a consistent and fair manner. We work closely with academic counselors to assist students in meeting the requirements of satisfactory progress. We encourage students who are having problems meeting the academic or attendance standards to notify the Financial Aid Office.
The Department of Education requires that all students receiving aid from federal financial aid programs maintain satisfactory progress. This should not be confused with the Cochise College academic progress or the requirements for other scholarship and grant programs. Satisfactory progress will be monitored for all financial aid recipients at the end of the fall, spring, and summer terms. No aid will be disbursed for the following term until this progress evaluation is complete. Students who do not meet the progress standards will be notified and given an opportunity to submit an appeal.
All Financial Aid credit calculations are based on attempted credit hours, not passed credit hours.
GPA Standards (Qualitative): Students must maintain a “C” 2.0 cumulative grade point average or maintain a passing status in their chosen program; for example, nursing students must always have a “B” 3.0 GPA to continue in the nursing program.
Credit Hour Completed Standards (Quantitative): Minimum number of credit hours per academic term: To maintain progress, financial aid recipients must complete at least 75 percent of the academic units they are registered for after the last day to drop/add. Students who receive a student loan are required to maintain half-time status. It is the responsibility of the student to notify the Financial Aid Office if half-time status is not maintained. Subsequent loan disbursements will be cancelled. Lenders are regularly notified of any change in enrollment. The following grade codes do not count toward the minimum credit hours requirement:
Students are eligible to receive financial aid to cover failed courses that are required for their degree or certificate program. In those cases where a department has established a grade requirement for successful completion of a course or courses, and a grade other than F is considered failing, students will be allowed to retake the course and receive financial aid. Financial aid will only pay for one retake of courses previously passed. Federal aid will not repay for classes in which the grade received is W or AU.
Incomplete: If you, for good reason, are unable to complete all the work necessary in a course, your instructor may agree to assign you an incomplete rather than a failing grade. This requires a contract that stipulates the work you are to complete in order to receive a certain grade. The granting of incomplete grades is entirely at the discretion of the instructor. If the work is not completed in one semester, the incomplete grade reverts to an F. A copy of the incomplete grade contract must be turned in to Financial Aid.
Maximum number of credit hours: The total number of credit hours a student earns measures the maximum time frame for completion of a degree or certificate. This includes transfer hours accepted for the degree or certificate. The maximum number of credit hours equals the required credits for the degree or certificate times 150 percent. Once a student reaches the maximum credits allowed for the degree or certificate, aid eligibility ends.
|Program||Needed Credits||Maximum Attempted Credits|
|Aviation Maintenance Technology||87||130|
Up to a maximum of 30 credit hours of remedial classes may be included in the total credit hours. Students taking ESL classes exclusively to prepare to enter degree programs are eligible for the Pell Grant only.
Students who reach 96 credit hours (even if enrolled in another degree program) will be required to submit a 2014-15 Maximum Credit/Transfer Credit Appeal. Restricted enrollment letters are obtained by making an appointment with an academic counselor. To have additional degree or certificate programs approved for financial aid, the student must submit a written justification for needing the program. These requests will be submitted to the Financial Aid Committee for consideration.
Waiver of Advice:
Waivers of advice are not always accepted by Financial Aid.
Signing a waiver of advice could have an effect on your financial aid eligibility. Any signed waiver of advice must be submitted to the financial aid department for review.
Waivers of advice must be included in the Maximum Credit packet that the student is sending to Financial Aid.
Failure to Maintain Satisfactory Progress: Students who fail to meet the 2.0 CGPA must use their own financial resources until a 2.0 CGPA has been attained or an appeal or probationary term has been approved. Transfer grades are not calculated into the GPA. Students who fail to complete the required minimum number of credit hours for which they were funded will be required to make up the deficient hours without financial aid or have an approved appeal and probationary term. Once a student has raised their CGPA or made up the required units, the student must submit an academic progress appeal in order reinstate aid eligibility. This appeal alerts the Financial Aid Office that the student has completed all the requirements needed to regain eligibility.
Right to Appeal: Students who experience extenuating or mitigating circumstances, beyond their control, during the term are encouraged to file a satisfactory progress appeal. An appeal form with supporting documentation must be submitted to the Financial Aid Office. Mitigating and extenuating circumstances may include the illness of student or family, a death in the family, or a serious personal problem. A letter from an attending physician, counselor, or hospital record; copy of a death certificate; divorce or separation papers; court documents, and police records are examples of acceptable documentation.
All students with a GPA below 2.0 will be encouraged to meet with an academic counselor. The counselor may require the student to meet certain requirements (attend the math or English laboratory, meet regularly with counselor, etc.) in order to assist the student in regaining an eligible GPA.
No more than one probationary period will be granted. Students granted a probationary period will have conditions attached that must be met. Some of the conditions might be to complete all paid units in the subsequent term, to raise GPA to 2.0, to meet with an academic counselor for evaluation of progress, or to reduce enrollment in the next term if completing units is a chronic problem.
Once a student has been suspended from financial they must either use their own resources until a 2.0 CGPA is reached or until they have satisfactorily completed a minimum of six credit hours in one term before applying for reinstatement of aid eligibility. No additional probationary terms will be approved once a student has been suspended. The student must then meet all progress requirements for subsequent terms to retain financial aid eligibility.
Students identified by the U.S. Department of Education as having unusual enrollment history must be reviewed by the Financial Aid Office to determine federal aid eligibility. The Financial Aid Office must determine if there were valid reasons for the unusual enrollment history by reviewing enrollment, college transcripts and financial aid history. Additional documentation from the student regarding failure to earn academic credit will be required. The Financial Aid Office must document the approval or denial of continued federal aid eligibility. The decision is final and cannot be appealed to the Department of Education. Students who are identified with unusual enrollment history must also complete an Identity and Statement of Educational Purpose.
If you withdraw from the college either before the start of the term or after the term starts, you must process an official withdrawal from through the Office of Records and Registration, as well as the Financial Aid office. If you withdraw prior to the start of the term and you received an advance financial aid check, you must return the funds to the Cochise College Business Office.
The withdrawal date is:
Return of Title IV Funds
Title IV aid is earned in a prorated manner up to and including the 60 percent point in the semester. Title IV aid and all other aid is viewed as 100 percent earned after that point. Find the Return of Title IV Funds worksheet online (choose Credit Hour Program) or at Cochise College’s Financial Aid Office. Students who receive Title IV aid but do not begin attendance are not subject to Return of Title IV Funds Calculation. Instead, the full amount of disbursement is immediately due back from the student if the student never begins attendance. For withdrawals, the percentage of Title IV aid earned is calculated by taking the number of days completed by the student divided by the total number of days in the term. The percent of the semester completed is the percentage of Title IV aid earned by the student. The percentage of Title IV aid unearned (i.e., to be returned to the appropriate program) is 100% minus the percent earned. Cochise college will return the unearned aid to the federal programs or lender by debiting the student’s account. The total required institutional charges times the percent of unearned aid equals the amount returned to program(s) by Cochise College.
The student shall return the unearned aid to the federal programs or lender as follows: Total unearned aid minus the institution’s share equals the amount returned to the program(s) by the student. Unearned Title IV aid shall be returned to the following programs in this order:
When the total amount of unearned aid is greater than the amount returned by Cochise College from the student’s account, the student is responsible for returning unearned aid to the appropriate program(s). Loan amounts are returned by the student within the terms of the master promissory note (MPN). A student does not have to repay grant overpayments of $50 or less per program.
The Title IV funds that were disbursed in excess of the earned amount will be returned to the federal government by the college. The amount to be returned to the college will be calculated from the date on which you officially withdrew. If any funds are remaining after the return of Title IV aid, they will be used for repayment obligations for the college’s funds, state funds and other private sources. If an unpaid balance(s) exists, all aid sources will be repaid before any funds are returned to you.
Financial Aid Return of Title IV Funds Calculation Sample
A student withdraws after attending 11 days of a 110 day enrollment period. The student received a $1,000 Pell Grant and a $2,500 Federal Subsidized Loan. The students’ institutional costs were $1,000.
You have 45 days to return the federal funds or make satisfactory arrangements to repay. Failure to repay will result in the loss of eligibility for all Title IV federal financial aid programs. If you have a student loan, you will be notified of any payments made to your student loan by Cochise College. If you stop attending your classes and do not notify the college, you are subject to the same refund policy. Any student who completes the term with only W and F grades will be checked for completion of all classes and will be subject to the refund policy.
Students who are currently enrolled and are completing the FAFSA will be asked: “Have you been convicted for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid?” Students who answer “Yes” will be asked an additional series of questions to determine if the conviction affects their eligibility for federal student aid. Students convicted of a federal or state offense of selling or possessing illegal drugs that occurred while they were receiving federal student aid should still complete and submit the FAFSA to determine if there is aid for which they are still eligible. Students who leave question 23 blank cannot receive federal financial aid until they respond by making a correction to their FAFSA. A student who has been convicted of possession or sale of illegal drugs loses Title IV eligibility for a period of time specified in law. The period of ineligibility depends on whether the conviction was for possession or sale of (including conspiring to sell) illegal drugs.
For convictions involving possession, the periods of ineligibility are as follows:
For convictions involving sale, the periods of ineligibility are as follows:
A federal or state drug conviction can disqualify a student for federal financial aid. Convictions only count if they were for an offense that occurred during a period of enrollment for which the student was receiving Title IV aid—they do not count if the offense was not during such a period. Also, a conviction that was reversed, set aside, or removed from the student’s record does not count, nor does one received when the student was a juvenile, unless the student was tried as an adult.
A student regains eligibility the day after the period of ineligibility ends or when the student successfully completes a qualified drug rehabilitation program. Further drug convictions will make the student ineligible again. A student whose Title IV eligibility has been suspended indefinitely may regain eligibility only by successfully completing a drug rehabilitation program. A student who is under a one- or two-year penalty may regain eligibility before the expiration of the period of ineligibility by successfully completing a drug rehabilitation program. If the student successfully completes an approved drug rehabilitation program, eligibility is regained on the date the student successfully completes the program. It is the student’s responsibility to certify to the school that he/ she has successfully completed the rehabilitation program.
To qualify the student for eligibility, the drug rehabilitation program must include at least two unannounced drug tests, and:
Each year’s freeze dates are listed in the Financial Aid calendar of the Academic Calendar.
A student receiving financial aid must be registered in all classes for the semester by the listed freeze date. For example, if you are registering for full 16-week and/or first 8-week classes, you cannot add another second 8-week class after the posted freeze date. Any classes added after the freeze date will not be eligible for financial aid during that semester. If you are registering for only the second 8-week session, the freeze date will be the posted last-date-to-add for the second 8-week term.
|Enrollment Period||Loan Applications Accepted|
|Fall & Spring||First day of registration through 30 days prior to the end of the semester.|
|Fall only||First day of registration through 30 days prior to the end of the fall semester|
|Spring only||First day of registration through 30 days prior to the end of the spring semester|
|Summer Session||First day of registration for summer through the second week of June.|