We are pleased to inform you that you have been offered financial aid at Central New Mexico Community College. Some awards require further action. Some important information contained in this letter includes:
- Financial Aid Disbursement Information
- Financial Aid Disbursement Release for Students in Late-Starting Classes
- Lifetime Eligibility Used
- Repeat Coursework
- Bookstore Deferments
- Maintaining Satisfactory Academic Progress
- Developmental Courses
- Ineligible Courses and Majors
- Complete Withdrawal from School
- Dropping and Adding Classes
- Direct Loan Awards
- Student Employment Awards
- Award Amounts
For more information, visit the General Requirements Page.
Your award has been calculated based on full-time enrollment (12 credit hours or more). Your actual award will be based on the number of financial aid eligible credit hours you are enrolled in.
Pell Grant awards are prorated and are based on one or more financial aid eligible credit hours. Students enrolled less than half time may be subject to a reduced Pell based on a high Expected Family Contribution. Most CNM students with a bachelor’s degree are not eligible for Pell grant awards. There may be some exceptions for students enrolled in the Alternative Teacher Licensure program. Grants are “gift aid” and do not require repayment.
To qualify for loans and student employment (work study), you must be enrolled in 6 financial aid eligible credit hours. Awards are offered on a first come first serve basis.
To receive an award, students must:
- Be enrolled in a major and courses that are financial aid eligible
- Maintain Satisfactory Academic Progress
- Not be attending high school
- Not be receiving aid from another college or university
- Learn the average cost of attendance.
Students have two options for receiving their financial aid funds; 1. By direct deposit into their bank account. 2. By mail. Students who choose direct deposit will receive their financial aid funds earlier than those who opt for a mailed check. All students who want to receive their financial aid funds through direct deposit must enter their bank account information in myCNM. Students who choose not to use direct deposit will have their financial aid funds mailed to them and need to make sure their address on file with CNM is correct.
To enter your bank account information for direct deposit, log on to myCNM and click on the “Registration/Grades” tab at the top of the page. Then click on the “Pay Here/View Account Details” link in the top right corner of the page. Read important information on the page and then click on the “Student Account Center” button. Then click on the “eRefunds” link in the menu bar across the top of the page and set up your account.
Students who are financial aid eligible and are enrolled in late-starting classes can expect disbursement of most funds approximately three weeks after the class begins. Only student loans will be disbursed prior to the beginning of a late starting class. Student loans will be disbursed upon enrollment of six eligible hours, beginning with the first disbursement for the term.
Funds affected by this policy include Pell, SEOG, SSIG, NMCAG, General and Daycare scholarships. Student loans are not affected, but you must be enrolled in six eligible hours to receive a student loan.
Your financial aid funds release will not be affected if all your classes begin the first week of the term.
Students are limited to 6 full-time years of Pell grant. If you receive the full amount of your scheduled award for the academic year, you will have used 100%. Since the maximum amount of Pell grant a student can receive per year equals 100%, the six-year equivalent is 600%. Some students do not receive their entire scheduled award because they were not enrolled for the full year, were not enrolled full time, or both.
Students may repeat previously passed coursework once. This means that you may take the course twice and receive financial aid at CNM. All coursework on your CNM transcript is subject to this rule, whether you received aid or not. Repeated courses do affect financial aid satisfactory academic progress calculations. A repeated course along with the original attempt must be counted as attempted credits.
Bookstore deferments are for student use only. Anyone purchasing for others will be reported to the Dean of Students for disciplinary action and possible suspension of financial aid.
Federal regulations require all terms of attendance be reviewed,including terms in which the student did not receive financial aid. In order to meet Satisfactory Academic Progress (SAP), students must
- Maintain a cumulative grade point average of 2.0,
- Complete at least 66.67 percent of all attempted credit hours, and
- Complete their program within 150 percent of the hours required to graduate from that program.
Students can receive financial aid for up to 30 credit hours of developmental courses. Any class with a course number below 1000 is a developmental course. This limit applies to grants, loans, and student employment.
Some courses and majors are ineligible for any federal financial aid. For a list of these programs visit the General Requirements page, or you may visit the Financial Aid offices at Main, Montoya, or Westside campuses.
Financial aid recipients who completely withdraw, drop out, or are dismissed from school before completing 60 percent of the term may be required to repay, to the U.S. Department of Education, a portion of the funds they received. Students who earn no passing grades in a given term are assumed to have unofficially withdrawn. Officially and unofficially withdrawn students may be required to repay a portion of financial aid received.
Students who add classes may be paid for additional hours. Students who drop a class before the census date (or the Last Day to Drop Without a W) may have to repay a portion of funds they received for that class. See “Important Dates-Course Deadlines and Dates” in the Schedule of Classes.
Students who have been offered Direct Loans must complete the following steps:
- Complete a Loan Entrance Counseling Session.
- Sign a Master Promissory Note (MPN). New borrowers must apply and complete this MPN. The MPN is good for 10 years from the date of signature.
- Accept their loans online by accessing myCNM.
- First time CNM loan borrowers must attend an in-person entrance counseling session.
To be eligible for a Direct Loan, a student must be enrolled in at least 6 eligible credit hours in a financial-aid eligible program.
Beginning in the 2013-2014 award year CNM joined other schools nationwide as part of the Department of Education Experimental Site Initiative.
Dependent students have the option of applying for Federal Parent Loans for Under Graduate Students (PLUS loans) to help parents pay for their children’s education.
For instructions on how to request student employment awards, please visit student employment.
To view your individual educational cost and financial aid award please follow the steps below:
- Go to myCNM
- Click "Financial Aid" tab
- Click on "Financial Aid Awards" in upper left hand corner of web page
- Under Select Aid Year: Use the drop down menu to select the correct aid year
- Click "Submit"