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7 Financial Aid Facts You Must Know

7 Financial Aid Facts you MUST know if you have Federal Title 4 aid
  1. Even though CNM disburses Federal Title 4 aid about 2 weeks AFTER any given semester, or part of term begins, all CNM students receive their Federal Title 4 aid BEFORE they are eligible to keep 100% of it.

  2. Attending classes is the only way students can keep 100% of their Federal Title 4 aid for any given term.  In this specific context, a passing grade is only important in that it demonstrates continued attendance in a term.

  3. Similarly, students may receive all “F”, or non-passing grades for a term, but as long as they attended their classes, they will keep 100% of their Federal Title 4 aid for that term.

  4. The 6 different forms of Federal Title 4 aid at CNM are;
    Pell Grant
    Federal Subsidized loan
    Federal Unsubsidized loan
    Perkins Loan
    Parent PLUS loan
    Federal Supplemental (SEOG) Grant

  5. Sometimes dropping a class is inevitable.  If students MUST drop a class(es), or stop attending, please talk to anyone in CNM Financial Aid, before dropping or ceasing attendance in any class.  We are here to help, not judge – in this specific instance, to help keep students out of debt if possible.

  6. If a class, or classes are dropped, or students do not attend, or stop attending class(es) for a given term, they may have to repay all, or part of their Federal Title 4 aid for that term.  Regulations on Return of Federal Title 4 aid are set by the federal government, not CNM.  There is no federal appeal process and there are no exceptions.

  7. Changing the grading option to Audit for any class is the same (in the federal government’s eyes) as dropping the class.  The reasoning is: after the grading option is changed to Audit, students can no longer earn credit in the class.  The aim of Federal Title 4 aid is to help students earn credit.  The date the grading option is changed will be considered the student’s last date of attendance (for Federal Title 4 aid purposes) for the class.