Financial Aid Policies
To maintain eligibility for federal, state, and institutional financial assistance, you must adhere to strict academic and regulatory benchmarks. Use this central hub to review your rights and responsibilities, understand how completely dropping classes alters your funding, and learn how to file an appeal if unexpected life events interrupt your academic progress.
Policies and Appeal Rules
The United States Department of Education requires standards of satisfactory progress for students who receive federal funds. Measures must include the student's total academic history, regardless of whether the student received financial aid at the time. Students not receiving aid will be notified at the time of the financial aid application. It is the student’s responsibility to be informed about the satisfactory academic requirements.
Thinking about withdrawing? Please speak with a financial aid advisor first. If you receive federal aid, including Pell Grants, SEOG, or Direct Student Loans, and officially withdraw or stop attending all classes before the term concludes, COM must perform a federally mandated Return of Title IV Funds (ROF) calculation.
How the 60% Rule Works:
- Before 60% Completion: If you drop out or stop attending before completing 60% of the semester, you have not legally "earned" your full aid package. The college must return the unearned portion to the federal government, which will instantly create an unpaid balance that you owe out-of-pocket to COM.
- After 60% Completion: If you initiate your total withdrawal after crossing the 60% mark of your enrollment term, you are recognized as having earned 100% of your financial aid, and no federal repayment is required.
If you have lost your financial aid eligibility because you failed to make Satisfactory Academic Progress (SAP), you have the right to petition for a second chance under qualifying circumstances:
- Severe personal injury or medical illness
- The death of an immediate relative
- Other documented, unforeseen family crises or extenuating circumstances
Requirements for Approval:
A written appeal must explain why you failed to maintain satisfactory progress and what has changed in your life that will now guarantee your academic success.
- The Academic Plan: If the Appeals Committee approves your request, you will be placed on Financial Aid Probation with an Academic Plan. Your academic progress will be carefully evaluated at the end of every term. You will remain eligible to receive your financial aid as long as you strictly adhere to the terms of your specific layout plan.
- Changing Your Plan: If you need to alter your approved academic plan mid-stream, you must submit a new appeal explaining what made the change necessary and how you will stay on track.
Please note: The Financial Aid Appeals Committee meets monthly to evaluate requests (with the exception of December).
Questions? We're here to help.
If you have questions about financial aid or need any assistance applying, please connect with our campus team:
Hours:
- Monday–Tuesday: 8 a.m. – 7 p.m.
- Wednesday–Friday: 8 a.m. – 5 p.m.
