Financial Needs Analysis Procedure
The Financial Needs Analysis (FNA) provides agencies with the student’s financial status and unmet need figures used to determining eligibility for agency funding. Unmet need is determined by taking the CNM federally calculated student expenses minus resources available to the student. These resources may include grants, loans, scholarships and the expected family contribution. Expected Family Contribution is determined by information the student provides when they complete and submit the Free Application for Federal Student Aid (FAFSA). Enrollment and if a student is making Satisfactory Academic Progress at the time the request is completed is also reported.
FNA requests are submitted to CNM Financial Aid and Scholarship Services. We require that a student’s financial aid file be completed before a FNA request can be accepted. We cannot complete a FNA for a student with an incomplete file. This assures that we are providing the agency the most accurate financial aid information. Exception can be made only for students on financial aid suspension or in default status.
Completing the Financial Need Analysis (FNA)
Only CNM FNA forms will be completed - we cannot complete individual agency forms
PART 1: To Be Completed by Student
Include the following information
- Indicate School Year
- Agency Information - Agency’s Name, address, phone and fax number where FNA will be sent
- Student Information - Name, address, social security number and phone number where student can be reached
- Student must sign and date the FNA – unsigned requests cannot be processed
PART 2: To be completed by CNM Financial Aid & Scholarship Services
This portion will be complete by CNM and sent to the agency listed by the student
- One FNA request can be made each school year (a breakdown of need by trimester is included). Student are responsible for updating their agency regarding academic progress, continuing enrollment, new resources, and grades.
FNAs will be completed and faxed to the listed agency within 2 business days of the day of the request under most circumstance. Students requesting a copy will be required to present a picture ID at time of pick up.
Please contact CNM Financial Aid and Scholarship Services if you are having difficulties in submitting your FNA. An FNA may also be faxed, emailed, or mailed if necessary.
STUDENTS ARE RESPONSIBLE FOR KNOWING AND UNDERSTANDING THESE RULES