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Financial Aid Resources

Discover helpful tips and resources for navigating the financial aid process.

Financial Aid Facts You Must Know

  1. There are five different forms of federally funded aid available to CNM students: Pell Grants, Federal Subsidized Loans, Federal Unsubsidized Loans, Parent PLUS Loans, and Federal Supplemental (SEOG) Grants.

  2. CNM pays out (disburses) financial aid about two weeks after the first day of classes. Note: If your classes start on different dates, your financial aid may get paid out at different times.

  3. The fastest way to get your financial aid is by setting up direct deposit so that the money can go directly into your bank account.

  4. Attending and completing your classes is the only way you can keep 100% of your financial aid. If you drop classes you will have to pay back some or all of the aid you received. Note: Sometimes dropping a class is inevitable. IF you MUST drop your class or classes please talk to our Financial Aid team BEFORE taking any action. We are here to help, not judge!
     
  5. Changing the grading option to "Audit" for any class is considered the same as dropping because you can’t earn credit for the class. The whole point of financial aid is to help you earn college credit and graduate! If you do change the grade mode to audit, the date of the grading option change will be considered the last day you attended the class.

  6. To make sure you can keep getting financial aid, you need to complete your classes and keep a 2.0 GPA or better in all of your classes combined (cumulative GPA). You also need to continue taking classes that will help you complete your program. This is called this Satisfactory Academic Progress, or SAP.

  7. Financial Aid and Scholarship Services (FASS) communicates with students through email. Incoming freshmen will receive a traditional printed letter as well as email. You can also check your financial aid status by clicking the Financial Aid tab in myCNM.

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