You are here: Home / Departments / Financial Aid & Scholarship Services / Resources / Financial Aid Funds Release Information

Financial Aid Funds Release Information

*Important Information for spring 2015 (financial aid funds)
Beginning with the spring 2015 Term, CNM will be changing how it delivers financial aid funds to students. Students will be able to receive their financial aid funds either by direct deposit into their bank accounts or by mail.

All students who want to receive their financial aid funds through direct deposit must enter their bank account information in myCNM, even students who are currently signed up for direct deposit. You can enter your account information now for the new system.

Students who choose to have their financial aid funds mailed to them need to make sure their address on file with CNM is correct. Note! Using this method may delay your receiving funds up to one week. Address changes can be made through my CNM

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.

 


 

CNM has a major disbursement four weeks into the term. After that point, financial aid is disbursed each Friday. Students will receive their aid money once their financial aid file is complete and eligibility has been established.

Once you register for your classes, you can print a copy of your schedule with tuition and fee details (my CNM > Registration/Grades tab) to view your financial aid for the term. If you have aid listed on this schedule at the bottom in the Memo Balance, it is a good indicator that your financial aid file is complete.

Generally, only students who have received a Financial Aid award letter will receive aid. An award letter is a good indication that your file is certified, and you are scheduled to receive aid as long as you:

  • Are enrolled in an eligible program and in eligible courses; there are limits on Pell Grant and Loan funds received for Preparatory coursework (classes below 1000).
  • Are making Satisfactory Academic Progress.
  • Do not have requirements on your account that have not been met