Financial aid administered by the Financial Aid Office is based on an evaluation of academic accomplishments, financial need, and availability of resources. Students may qualify for Carroll scholarships, awards, and grants or federally sponsored grants, work, and loans. Information about eligibility, applying and accepting aid, and types of aid are outlined in this section. Some general points:
The following is an example of how financial aid is determined.
The Board of Trustees approves the cost of attendance in October of each year for the following academic year. The costs for a full-time, resident student for 2022 is as follows:
*This estimate includes allowances for books, supplies, transportation, and personal expenses.
If the student has applied for federal financial aid, Carroll accesses the expected family contribution (EFC) information electronically from the federal processor. If Carroll is not indicated on the FAFSA as a school that should receive the Student Aid Report (SAR), the student must submit a copy of the SAR to the Financial Aid Office or contact the Federal processor and request that Carroll College be added. Carroll’s school code is 002526.
Carroll subtracts the EFC from the cost of attendance. The resulting amount is financial need as per federal eligibility guidelines.
Financial aid packages are developed using information available at the time of packaging and may be revised if enrollment status and/or financial status change.
Eligibility Requirements for Carroll Aid
Academic year 2022-2023:
- Possess a high school diploma or equivalent
- Priority given to students with FAFSA results submitted to Carroll by December 1. Deadline to submit FAFSA and receive Carroll need-based aid is February 1.
- Does not possess a baccalaureate degree.
- Enroll and be accepted to Carroll College as a degree seeking full-time student.
Note: Full-time is 12 or more credit hours per semester. For some Federal financial assistance programs students must be enrolled in at least 6 credit hours per semester.
Eligibility Requirements for Federal Aid
Academic year 2022-2023:
- Apply and be accepted to Carroll College as a degree student.
- Complete and submit the Free Application for Federal Student Aid (FAFSA) as soon as possible after the first business day in October and request that the information be sent to Carroll College, Title IV Code 002526. A FAFSA must be completed each year you apply for financial aid. Note: Submitting a FAFSA ensures you are considered for all financial assistance from Carroll and the federal government. However, submitting a FAFSA is only mandatory for ROTC students.
- Review the Student Aid Report (SAR) sent by the processing center and submit necessary corrections.
Financial Aid Notification
Academic year 2022-2023:
Students who have been accepted for admission and for whom Carroll received results of the FAFSA on or before December 1 will receive a need-based financial aid offer in January. The aid offers will contain all financial aid awards offered by and through Carroll College with directions as to how to accept and receive the aid. After January 1, students will receive financial aid offers as they are admitted to Carroll and the results of the FAFSA become available.
Students who do not apply for federal financial aid will not receive a need-based financial aid package. The priority for need-based aid will be given to those new students who have made their enrollment deposit by May 1st. After May 1st need-based aid will be given in the order that the deposit is received if funds are available.
Approximately 20% of all FAFSA applicants are selected for a process called verification by the Department of Education or by Carroll College. In this process, Carroll College will be comparing information from the FAFSA with signed copies of the verification worksheet, student (and parent’s) Federal tax transcripts, W-2 forms or other financial documents. The law requires the college verify this information before disbursing of Federal financial aid. If there are differences between the FAFSA information and supplied financial documents, Carroll College will make corrections electronically and notify the student in writing.
Verification must be completed no later than the first day of class, for the 2022-23 academic year or prior to enrollment for new spring term starts. Failure to complete verification will result in the cancellation of all federal and institutional need-based aid. In addition:
- No federal loan(s) will be released until verification is completed.
- Students employed under the federal work-study program cannot work more than 60 consecutive days from the beginning of the semester without completing verification.
- Carroll College must review the requested information, under the financial aid program rules (34 CFR, Part 668).
In some cases, the Financial Aid Office will re-evaluate financial aid based on special circumstances. If you or your family have special needs or have recently experienced unusual financial circumstances, please contact the Financial Aid Office. A Special Circumstance form is available on the financial aid forms bank on the Carroll College website.
Financial aid is not available for audit courses.
Carroll College’s academic policy indicates a student who receives a grade of “D” or “F” may repeat a course at Carroll. Only grades of “D” or “F” may be repeated. In such cases the most recent grade shall be the one counted in computing the grade point average required for graduation. The credit hours for a course will be counted only once. Students cannot attempt to repeat a course under this policy more than 2 times. A student may not receive financial aid to repeat a class more than 1 time for courses previously passed. Courses repeated at other institutions do not change the Carroll cumulative grade point average.
Accepting Financial Aid
- A financial aid offer notification will be mailed and e-mailed to accepted students beginning in January or after Carroll receives FAFSA information.
- Acknowledge your acceptance of your financial aid by accepting and submitting to Carroll College your financial aid notification and other required paperwork by May 1.
- Financial aid, except for work-study offers, will be credited directly to your student account at the beginning of each semester.
Student Responsibilities
Upon acceptance and receipt of financial assistance of any kind, it becomes the student’s responsibility to notify the Financial Aid Office in writing of changes in financial and/or enrollment status. A change in enrollment and/ or financial status may result in revision of financial aid offers. Changes include:
- Change in the number of enrolled credits;
- Change in name, address, or telephone number;
- Change in financial status, including any additional scholarships, grants, housing changes or other benefits received; and
- Withdrawal from the College. Students who withdraw from Carroll College during a semester may be responsible for repayment of all or a portion of any financial aid received for the semester. Return of federal fund procedures are federally regulated. Contact the Financial Aid Office for additional information.
Student complaints can be submitted to the Office of the Commissioner of Higher Education: http://www.mus.edu/che/default.asp or https://mus.edu/MUS-Statement-of-Complaint-Process.asp and at 2500 Broadway, PO Box 203201, Helena, MT 59620-3201 or 406-444-6570.
Scholarships and Awards
Freshmen students entering in academic year 2022-2023
Bishop Carroll Level: $23,000
Presidential Level: $21,000
Trustee Level: $20,000
All Saints Level: $18,000
Founders Level: $16,000
All full-time students pursuing their first baccalaureate degree, who have applied and been accepted to Carroll in the 2022-2023 academic year are automatically considered for the above guaranteed minimum scholarships and awards based on official recalculated high school transcripts and test scores (if available). Merit scholarships are awarded for up to four years of full-time study. Other Carroll College institutional aid is generally awarded for up to four years. Students must maintain a 2.0 or higher Carroll cumulative grade point average to retain the merit awards and all other Carroll scholarships and/or grants. Additional gift aid may be available for full-time students who submit a FAFSA and are determined to have financial need. New students must deposit by May 1 to be eligible for additional need-based Carroll gift aid. Carroll College's commitment as a residential college is affirmed by its policy of awarding financial aid that is intended to assist with direct cost for tuition, fees, college-owned housing, and board. If a student is approved to live off campus or does not enroll in campus housing, Carroll College merit scholarships will be reduced by $4,000 unless the student is independent according to FAFSA regulations.
Carroll institutional grants/scholarships will not exceed:
- On-campus students = Total of tuition/fixed fees/room/board
- Off-campus students = Total of tuition/fixed fees
Carroll College institutional aid is not refunded to a student but will be used to pay institutional costs incurred during the academic year awarded. If a student receives outside aid that specifically covers tuition and/or room and board charges, Carroll aid may be reduced. Examples include Veterans benefits, vocational rehabilitation, ROTC, etc.
If students choose to live off-campus, have been granted permission to live off-campus, or live in campus apartments, institutional need-based aid may be reduced. The financial aid package is based on full-time attendance and a student’s housing status at Carroll.
Other Carroll Scholarships and Grants
Family Allowance Grant
Carroll provides a grant of $1,000 ($500 per semester) to each dependent family member when two or more immediate family members are attending Carroll full-time (first baccalaureate degree) during the same semester. Specific details and applications are available from the Financial Aid Office or on the Carroll College website and are due by February 1 each year.
Activity Scholarships and Grants
Activity scholarships and grants are offered to students (pursuing their first baccalaureate degree) involved in forensics, theater, student government, choir, string band, pep band, drumline and intercollegiate athletics. Amounts vary and may be renewable with continued involvement in the activity. Carroll College offers activity scholarships to students in the following areas:
Forensics: Contact the Director of Forensics, Mr. Brent Northup
Theatre: Contact the Theatre Department, Ms. Kim Shire
Choir: Contact the Choir Director, Michael Gray & Tasha Anderson
Liturgical Choir: Fr. Marc Lenneman or Deidre Casey
Pep Band: Contact the Pep Band Coordinator, Rebecca Kagerer
Music Ensemble: Contact the Director, Rebecca Kagerer
Men’s Basketball: Contact the Head Coach, Mr. Kurt Paulson
Women’s Basketball: Contact the Head Coach, Ms. Rachelle Sayers
Men & Women’s Cross Country: Contact the Head Coach, Ms. Shannon Flynn
Men’s Football: Contact the Head Coach, Mr. Troy Purcell
Men & Women’s Golf: Contact the Head Coach, Mr. Bennett MacIntyre
Men’s Soccer: Contact the Head Coach, Mr. Doug Mello
Women’s Soccer: Contact the Head Coach, Mr. David Thorvilson
Women’s Softball: Contact the Head Coach, Ms. Shawna Juarez
Men & Women’s Track & Field: Contact the Head Coach, Mr. Harry Clark
Women’s Volleyball: Contact the Head Coach, Ms. Maureen Boyle
ROTC: Contact the ROTC office, Sgt. First Class Matthew Sonsteng
Parish Scholarship
Students who are active in a Catholic Parish within the State of Montana may apply for this scholarship through their parishes. Applications are available at the parishes for this $1,000 scholarship or on the Carroll College website and are due by February 1 to the parish. This award is a first year, freshman scholarship only (pursing their first baccalaureate degree).
Endowed Scholarships and Grants
Carroll College endowed scholarships and grants result from gifts to Carroll by individuals and institutions interested in helping Carroll students succeed. Donor restrictions apply in most instances and most are need-based, which require the results of a FAFSA. Applications for endowed scholarships are not required for endowed scholarships as funds are allocated in accordance with donor restrictions and/or specifications and Financial Aid Office policies. Carroll College scholarships and grants are available for students pursuing their first baccalaureate degree. Post-baccalaureate degrees do not qualify for Carroll gift aid unless specified by the endowed or cash grant donor.
Employer Matching Grant
Students who enroll at Carroll for at least three and no more than nine credits and whose employer contributes at least one-third of tuition costs are eligible for this Matching Grant Program. Students do not need to be degree candidates at Carroll, but they must enroll for credits (no audits). Recipients of the employer matching grant are not eligible for any other Carroll aid or benefit. Applications are available in the Financial Aid Office and the Carroll College website and are due by the semester payment due date.
Carroll Scholarships and Awards for Transfer Students
Scholarships for students entering in academic year 2022-2023:
| Presidential Scholarship |
$17,000 |
| Trustee Scholarship |
$15,000 |
| All Saints Award |
$13,000 |
All full-time transfer students pursuing their first baccalaureate degree, who have applied and been accepted to Carroll in the 2022-2023 academic year are considered for the above scholarships and awards based on official transcripts and a recalculated, cumulative transfer grade point average. Merit scholarships are awarded for up to four years of full-time study. Other Carroll College institutional aid is generally awarded for up to four years. Students must maintain a 2.00 GPA or better Carroll cumulative grade point average to retain merit awards and all other Carroll scholarships and/or grants and be enrolled full-time. Carroll College's commitment as a residential college is affirmed by its policy of awarding financial aid that is intended to assist with direct cost for tuition, fees, college-owned housing, and board. If a student is approved to live off campus or does not enroll in campus housing, Carroll College merit scholarships will be reduced by $4,000 unless the student is independent according to the FAFSA regulations.
Phi Theta Kappa Scholarship for Transfer Students
Transfer students pursuing their first baccalaureate degree, selected to Phi Theta Kappa National Honor Society, which recognizes outstanding academic achievement by students who attended community colleges are eligible. Students must indicate membership on the application for admission for this $2,000/yr renewable scholarship. Students must maintain a 2.00 GPA or better Carroll cumulative grade point average to retain merit awards and all other Carroll scholarships and/or grants.
Federal Financial Aid
Complete the FAFSA after October 1. Request that your Student Aid Report be sent to Carroll College, Title IV Code 002526. (www.studentaid.gov) Students (and parents, if applicable) must have an FSA ID number to sign the FAFSA electronically. You must re-apply for federal aid each year. Delays in receiving financial aid are often the result of late submission of the FAFSA. Priority deadline for Carroll College is December 1. ROTC students must submit a FAFSA prior to December 1 each year to be eligible for room and board grants.
Eligibility for the below-indicated federal financial aid resources depends on submission of the FAFSA. The Student Aid Report (SAR), resulting from the FAFSA, provides an expected family contribution (EFC), which is used to determine eligibility for federal need-based financial aid.
- Federal Pell Grants and Federal Supplemental Education Opportunity Grants (FSEOG) are awarded to students with exceptional financial need. Federal Pell Grants are limited to 12 full-time semesters. FSEOG funds are limited.
- Federal Teacher Education Assistance for College and Higher Education (TEACH)—Non-need federal grant awarded to U.S. citizens majoring in education who intend to teach in a public or private elementary or secondary school that serves students from low-income families. Students must be formally accepted into the Carroll College Education Program. In exchange for receiving a TEACH Grant, students must teach for at least four academic years within eight calendar years of completing the program of study. Failure to complete the four year teaching requirement will result in TEACH Grant funds being converted to a Federal Direct Unsubsidized Stafford Loan. Students must score above the 75th percentile on a college admission test or maintain a cumulative GPA of 3.25 or higher to be eligible.
- Federal Iraq and Afghanistan Service Grant—A student whose parent or guardian was member of the U.S. Armed Forces and died as a result of service performed in Iraq or Afghanistan after September 11, 2001, may be eligible to receive the Iraq and Afghanistan Service Grant. The grant award is equal to the amount of a maximum Pell Grant for the award year-not to exceed the cost of attendance for that award year. Award amounts are subject to change based on federal funding due to sequestration.
- Children of Fallen Heroes Scholarship Act
Under this scholarship a Pell-eligible student whose parent or guardian died in the line of duty while performing as a public safety officer is eligible to receive a maximum Pell Grant for the award year for which the determination of eligibility is made. To qualify for this scholarship, a student must be Pell-eligible and have a Pell-eligible EFC, and be less than 24 years of age or enrolled at an institution of higher education at the time of his or her parent or guardian's death. In subsequent award years, the student continues to be eligible for the scholarship, as long as the student has a Pell-eligible EFC and continues to be an eligible student. All Title IV aid awarded to such eligible students must be based on an EFC of zero without regard to the student's calculated EFC. Thus, the student is eligible for the maximum Pell Grant for his or her enrollment status and cost of attendance. In addition, the student's eligibility for Direct Loans or Campus-Based program aid must be based on an EFC of zero.
- Federal Work-Study employment opportunities are available through the need-based Federal Work-Study (FWS) Program. Limited funds are awarded on a first-come, first-served basis, in accordance with College policy. Awards are for 10 hours per week. For most jobs, the hourly pay rate is around $10 an hour.
- Loan monies at federally regulated interest rates are available to you and your parents. Federal loans are awarded on a need and non-need basis as documented through the FAFSA.
- Federal Direct Stafford Loan—available to students on either a need (subsidized) or non-need (unsubsidized) basis. Subsidized loans do not require payment of interest by the student so long as the student is attending college at least half time. The federal government subsidizes the interest burden. Subsidized loan eligibility is limited to 150% of the student’s program of study. Unsubsidized loans require payment or capitalization of interest upon disbursement. Interest rates are set annually in accordance with federal regulations.
- Federal Direct PLUS (Parent) Loan—for parents of dependent students who want to borrow to help pay for their students’ education. Interest rates are set annually in accordance with federal regulations.
- The Higher Education Act of 1965 as amended (HEA) suspends aid eligibility for students who have been convicted under federal or state law of the sale or possession of drugs, if the offense occurred during a period of enrollment for which the student was receiving federal student aid (grants, loans, and/or work study).
Private Scholarships
Many private organizations provide financial assistance to Carroll College students. Scholarship information may be obtained by contacting civic, professional, religious or other community organizations in addition to high school guidance offices and the Internet. An additional listing of web resources is available on the Carroll College website.
Private scholarships are generally applied one-half to each semester after the funds are received.
College-Related Federal Tax Provisions
Carroll students and families may be eligible for selected education-related tax provisions of the Federal Taxpayer Relief Act of 1997, including:
- American Opportunity Credit provides a maximum $2,500 per year tax credit (non-refundable) for each eligible student for up to four years and up to $1,000 of the credit can be refunded if your credit is more than you owe in taxes. Qualifying expenses include tuition, fees and required course materials.
- Student Loan Interest Deduction provides a non-refundable deduction (not credit) of interest on qualified education loans used to finance qualified education expenses. The maximum deduction each taxpayer is permitted to take is $2,500.
- Lifetime Learning Tax Credit provides up to $2,000 per tax return, (not per student). Unlike the American Opportunity Credit, this is non-refundable.
Note: Be advised that there are numerous eligibility requirements and other specifics contained in the tax provisions. Contact your tax advisor before making decisions.
Financial Aid Satisfactory Academic Progress Policy
Requirement and Purpose
Federal regulations require that students make satisfactory progress toward attainment of a degree, diploma, or certificate objective in order to participate in federal student assistance programs. Carroll interprets federal intent of the satisfactory progress regulations as a means to prevent abuse of federal student assistance programs as opposed to placing limitations on students.
Carroll’s financial aid satisfactory academic progress policy is provided to ensure compliance with federal regulations and to prevent abuse of federal student assistance programs while supporting students’ efforts to attain educational objectives. These standards represent minimum performance requirements based on federal statute and regulation and do not necessarily coincide with academic program requirements which may be stricter than federal requirements. In addition to meeting these standards a student must fulfill all other requirements to receive financial aid.
Indicators of Progress
Financial aid satisfactory academic progress (SAP) is measured “qualitatively” and "quantitatively.”
Quality of work is measured by cumulative grade point average (GPA), based on a 4-point scale, resulting from work done at Carroll College.
Quantity of work is measured against a maximum timeframe in which the student must complete the educational objective. The quantitative measurement requires designation of a minimum amount of work a student must successfully complete (credit hours earned) by the end of designated periods of enrollment (full-time equivalent semesters). The quantitative measure is cumulative for all periods of enrollment and for all schools attended, including periods of enrollment in which students did not receive federal student financial assistance.
Students Subject to SAP Measurement
Students currently enrolled and re-admits are subject to SAP measurement. In most instances, a financial aid package will be provided before grades are posted. If SAP standards have not been met, the financial aid package is voided, pending appeal.
New students, to include transfer students, while subject to SAP, are not measured for satisfactory progress until grades have been posted for the first semester of attendance at Carroll.
SAP Measurement Date
SAP measurement is made after completion of each semester (fall, spring, summer).
Measurement Standards of SAP
Qualitative Measurement
A student must possess a cumulative GPA of 2.0 or higher. Students accepted into the Nursing Program must possess a cumulative GPA of 2.75 or higher. Students in the Masters of Accountancy and Masters of Social Work program must possess a cumulative GPA of 3.00 or higher.
A student must meet the above qualitative standard in addition to the quantitative standards discussed below.
Quantitative Measurement
Students must pass 67% of the cumulative credits attempted at Carroll College in their degree level. Attempted credits will be based on a student’s credit load at the end of the add/drop period for each term.
Qualitative and Quantitative Measurement Explanations
Audit and non-credit remedial work are not considered in the measurement of SAP financial aid or graduation requirements. Remedial and repeated course work for which a student received credit multiple times is treated as any other course work. If repeating a course, the most recent grade shall be the one counted in computing GPA. The credit hours for a repeated course will be counted only once as completed but both count toward attempted when considering maximum timeframe. Incomplete and pass/fail classes are considered as credits attempted when considering maximum time frames. Incomplete courses are considered failed for GPA until completion of the course which must be no later than the end of the following semester. Transfer credits are considered when determining maximum time frames but not GPA. If a student withdrew from a class or classes, the student is considered to have attempted those classes, even though the student did not receive any earned credits from registering for the classes. Withdrawal from classes has a negative impact on SAP measurement. Students with multiple majors or who change majors must adhere to the same qualitative and quantitative measures (measures do not expand or restart). Post Baccalaureate or second degree students are limited to 243 cumulative credits attempted and only credits toward the new degree will count toward GPA.
Duration of Eligibility (Pace progression)
You are expected to earn a degree in a specific amount of time, measured by the credits attempted. Credits earned at prior post-secondary institutions and accepted toward your Carroll College degree will be included with your Carroll College credits in determining the credits you have attempted. The number of attempted credits allowed is 1.5 times the number of credits required to earn your degree (150%). For example, if your degree requires 122 credits, you are eligible for financial aid until you have attempted 183 credits or have earned the credits required for your degree, whichever comes first. Students must declare a major by the time they earn 45 credits. Students should register only in courses required for the completion of their program. If credits are needed in addition to the required credits listed in the catalog an appeal must be completed and reviewed to determine eligibility prior to the start of the term. Students with multiple majors or who change majors who exceed timeframe must appeal in writing and be approved to continue receiving aid. Post Baccalaureate or second degree students are limited to 243 cumulative credits attempted.
Student Notification of SAP Decisions
The Financial Aid Office will, in most instances, measure SAP after developing a financial aid package for a student. In this case, the student will be notified in writing (email and/or mail), after term grades post, if he or she has not met SAP standards and that the financial aid package may be cancelled. At the same time, the student will be notified in writing of the appeal process if required (described below). A student may be placed on Financial Aid Warning status if they were making SAP in the payment period. A Financial Aid Warning status reinstates aid eligibility for one payment period and does not require an appeal by the student.
Exceptions/Warnings/Appeals
A student who is notified of failure to meet SAP standards may be placed on warning or may need to appeal the conclusion reached by the Financial Aid Office and/or request that he or she be granted an exception to the policy. The Academic Dean’s office must grant academic reinstatement to students on academic suspension before the Office of Financial Aid will consider an appeal for financial aid eligibility reinstatement. Nursing students must be approved to stay in the program for the upcoming term by the Nursing Department Chair before the Office of Financial Aid will consider an appeal for financial aid eligibility reinstatement.
Appeal Requirements
If the student is not placed on a warning status, the student must respond and appeal in writing to the notification of failure to meet SAP standards. The response must be directed to the Financial Aid Director at Carroll. The response must describe in specific terms, why Carroll should grant an exception to its established SAP policy. As a minimum, the response must include the following (an appeal form is available online):
- A personal statement, plus supporting documentation, as appropriate, explaining the circumstances that have led to failure to meet established SAP standards.
- The nature and timing of the circumstances (e.g., Injury or illness, death of a loved one, or other unexpected mitigating circumstances). A student with a maximum credit hour violation must address the circumstances that prevented their graduation within the applicable credit limit.
- How the circumstances affected the students ability to meet the standards. If more than one enrollment period was affected, each enrollment period and the relevant circumstances must be specifically addressed.
- How the circumstances have been resolved or managed to permit the student to meet the standards.
- The statement should also include an academic plan outlining how the student expects to meet the SAP standards, as well as the time frame in which the student expects to be back in compliance with such standards.
Appeal Deadlines and Processing
Appeals for financial aid eligibility reinstatement must be received in the Office of Financial Aid no later than November 15 for fall semester, no later than March 31 for spring semester and no later than June 1 for summer session. Appeals will be reviewed by the Satisfactory Progress Appeals Committee on a case-by-case basis as soon as possible, and may take two weeks or more for an answer depending on the appeal volume at the time submitted.
The Financial Aid Director and Satisfactory Progress Appeals Committee will review the student’s response and will make a decision on the appeal. Two actions may result on the appeal:
- The Financial Aid Director may deny the appeal. The Financial Aid Director is the final authority regarding SAP decisions. The student will be notified, in writing, of action on the appeal in a timely manner.
- The Financial Aid Director may approve the appeal. If such is the case, the student will receive written notice of the approval along with conditions to be met in the future, if appropriate. A student may be approved in one of two statuses:
- Probation: Carroll determines that the student should be able to be make satisfactory academic progress during the subsequent payment period and meet the College’s satisfactory academic progress standards at the end of that payment period.
- Academic Plan: The Satisfactory Progress Appeals Committee develops an academic plan for the student that, if followed, will ensure that the student is able to meet the institution’s satisfactory academic progress standards by a specific point in time.
Students approved on an Academic Plan will complete and sign the plan with the Director of Academic Advising or for nursing students, the Director of Nursing. The plan will be recorded in the Financial Aid Office and will be monitored by the Satisfactory Progress Appeals Committee every term. If a student is not academically progressing as planned, financial aid will be cancelled but the student may submit a new appeal explaining the new circumstances.
Requalification for Federal Student Financial Assistance and Carroll Need-Based Assistance Programs After Failing to Meet SAP Standards.
A student who is disqualified from participation in college need-based, merit and other institutional scholarships, and federal student financial assistance programs may regain eligibility by satisfying the established SAP standards. This can be done by attending college without the financial assistance offered by the applicable financial aid. If a student is deemed not to be making satisfactory progress, but later meets the standards and is approved for degree-seeking status by the Academic Dean, his or her eligibility for aid is reinstated. A student may be paid for the payment period in which he/she regains satisfactory progress, but may not be paid for any payment periods in which the student did not meet the standards.
Return of Federal Title IV Funds Policy
Purpose
The purposes and intent of this policy are to provide guidance as to how Carroll College will calculate the amount of Federal Title IV funds to be returned for a student who has withdrawn from all classes, inform interested parties of the methods and procedures used to calculate the amount, provide a fair and equitable policy, and provide a policy that conforms to federal regulations and the intent of those regulations.
This policy governs the return of Federal Title IV funds disbursed for a student who completely withdraws from a term, payment period, or period of enrollment. It does not apply to students who have dropped some classes but remain enrolled in other classes at or through Carroll. A student is considered to have withdrawn from a period of enrollment or payment period if they do not complete all the days in the period of enrollment or payment period that they were scheduled to complete. This applies whether or not the period includes modules, and for any program format. The general assumption is that a student earns aid based on the period of time he/she remained enrolled. Institutional aid follows the Business Office tuition refund policy.
The Process—General
- Student notifies the Registrar that he/she is withdrawing from the College. The Registrar provides the student with a withdrawal form.
- The student follows the instructions on the form to obtain the necessary signatures indicating compliance with requirements, and returns the form to the Registrar.
- The Registrar gives a copy of the completed withdrawal form to the Financial Aid Office immediately upon receipt from the student.
- The Financial Aid Office calculates the amount of funds to be returned. Any existing credit balance on a student’s account will not be disbursed until after the R2T4 calculation is performed. The result of the R2T4 calculation may result in payment to Carroll College for unpaid institutional charges after the R2T4 or other refund calculations are performed. A student may receive a credit balance within 14 days of the R2T4 calculation.
- The Financial Aid Office within 30 days, notifies the student and the Business Office in writing (letter/email) of funds that the College must return, and the amount that the student must return.
- The Business Office returns its share of unearned Federal Title IV funds within 45 days after it determines that the student's withdrawal process is complete. The student must repay his/her share either by paying loans in accordance with the terms and conditions of the promissory note or (2) repaying grants directly or under a payment arrangement through the College (not required by the College).
IMPORTANT - MODULES: The rules surrounding withdrawal and modules (example: summer term) are slightly different. Students enrolled in modules are held accountable for attending the number of days in the modules in which they are enrolled. For example, if the student enrolls in modules one and three within a semester, only the days in modules one and three will be considered when calculating the percentage of the semester completed. The timing of a dropped class in the modular programs is also important. If a student drops courses in a later module while still enrolled in a current module within a semester, the student is not considered to be withdrawn. However, a recalculation of financial aid eligibility based on the change in enrollment status (full-time, three-quarter time, half-time) may still be required. If a student ceases enrollment in a current module, but plans to attend a later module within the same semester, the student must notify the Financial Aid Office in writing within 14 days of their plans to attend the later module to avoid being considered a withdraw for the purposes of this calculation. If written notification is not received within the required timeframes, the student is considered to have withdrawn and the return of funds calculation is completed. If, however, the student does continue to attend in a later module within the same semester, even if they failed to notify the Office of Financial Aid that they would, prior calculations due to non-communication are reversed. Exceptions include if the student completes all requirements for graduation before completing the days scheduled to complete in the period or the student completes one or more modules that comprise 49% or more of the number of days in the payment period or at least half-time enrollment.
Note: In addition to calculating a return of Federal Title IV funds for students who notify Carroll of withdrawal, Carroll must also make the calculation for students who do not “officially” withdraw. Return of Title IV Calculations are based on the official and the unofficial last date of attendance as determined by the school. The Financial Aid Office reviews final semester grades to determine students with all “F” and/or "W" grades followed by attempts to determine if the student withdrew from all classes. If so, the last date of academically related attendance is obtained and the later of an "F" or "W" is used. To facilitate the process, faculty instructors are required to indicate last date of attendance for all students awarded an “F” grade. Charges are not adjusted for unofficial withdrawals; therefore, institutional aid is not adjusted. Federal aid is adjusted based on Federal Title IV return of funds calculations.
The Details
Earned aid - During the first 60% of the period, a student “earns” Federal Title IV funds in direct proportion to the length of time he/she remains enrolled. That is, the percentage of time during the period that the student remained enrolled is the percentage of disbursable aid for that period that the student earned. A student who remains enrolled and attending beyond the 60% point earns all aid for the period.
Note that institutional costs play no role in determining the amount of Federal Title IV funds to be retained or returned. Also, aid is “disbursable” if the student could have received it at the point of withdrawal.
Unearned aid—The amount of disbursed Title IV aid that exceeds the amount of Title IV aid earned under the required formula. Unearned Federal Title IV funds, other than Federal Work-Study, must be returned.
Percentage of period enrolled—The number of days the student remained enrolled divided by the number of days the in the period. Calendar days are used, but breaks of at least 5 days are excluded from both the numerator and denominator. The number of days used to determine the enrolled percentage normally includes weekends; however, scheduled breaks are measured from the first day of the break to the next day that classes are held.
Repayment of unearned aid—The responsibility to repay unearned aid is shared by the institution and the student in proportion to the aid each is assumed to possess.
The institution’s share is the lesser of:
- The total amount of unearned aid; or
- Institutional charges multiplied by the percentage of aid that was unearned.
The formula assumes that Federal Title IV funds are directly disbursed to a student only after all institutional charges have been covered, and that Title IV funds are the first resource applied to institutional charges. Institutional charges comprise the amounts that had been assessed prior to the student’s withdrawal, not a reduced amount that might result from an institution’s refund policy.
The student’s share is the difference between the total unearned amount and the institution’s share. A school must return Title IV funds to the programs from which the student received aid during the payment period or period of enrollment as applicable, in the following order, up to the net amount disbursed from each source:
- Federal Direct Unsubsidized Stafford Loans
- Federal Direct Subsidized Stafford Loans
- Federal Direct Parent PLUS Loans
- Federal Pell Grants for which a return of Title IV funds is required and/or adjusted based upon attendance.
- If a Federal Pell Grant recipient's projected enrollment status changes during a payment period before the student begins attendance in all of his or her classes for that payment period, the institution shall recalculate the student's enrollment status to reflect only those classes for which the student actually began attendance.
- Iraq and Afghanistan Service Grant, for which a return of Title IV funds is required
- FSEOG for which a return of Title IV funds is required
- TEACH Grants for which a return of Title IV funds is required
After the student’s share is fully allocated among the Title IV programs, any amount owed to a grant program is reduced by half. Students return their share of unearned aid attributable to a loan (includes Federal Perkins Loan) under the terms and conditions of the promissory note.
Timeframe for returning funds
The institution must return its share of unearned Federal Title IV funds no later than 45 days after it determines that the student withdrew.
The student must repay his/her share either by (1) paying loans in accordance with the terms and conditions of the promissory note or (2) repaying grants directly or under a payment arrangement through the College (not required by the College) or the Department of Education (pending).
Credit Balances & Late disbursements
A student who earned more aid than was disbursed prior to withdrawal is owed a late disbursement or a post-withdrawal disbursement. Only the difference between earned aid and aid already disbursed may be late disbursed. Thus, conditions under which unearned aid must be returned and conditions under which a late disbursement is required are mutually exclusive.
Any post-withdrawal disbursement due must meet the current required conditions for late disbursements. A school is required to make (or offer as appropriate) post-withdrawal disbursements. A post-withdrawal disbursement must be made within 45 days of the date the institution determines that the student withdrew. The amount of a post-withdrawal disbursement is determined by following the requirements for calculating earned Title IV aid and has no relationship to incurred educational costs. A post-withdrawal disbursement, whether credited to the student’s account or disbursed to the student or parent directly, must be made within 14 days from available grant funds before available loan funds. Available grant or loan funds refers to Title IV program assistance that could have been disbursed to the student but was not disbursed as of the date of the institution’s determination that the student withdrew. A school must notify borrowers within 30 days and give borrowers 14 days to provide confirmation from a student for Subsidized or Unsubsidized Stafford Loans, or parent for a Direct Parent PLUS Loan, before making any disbursement of loan funds from a post-withdrawal disbursement. A school is permitted to credit a student’s account with the post-withdrawal disbursement of Title IV grant funds without the student’s permission for current charges for tuition, fees, and room and board (if the student contracts with the school) up to the amount of outstanding charges.
The institution may credit late disbursements towards unpaid institutional charges. Authorizations for current year charges remain valid for late disbursements; authorizations for prior year charges become invalid.
Withdrawal date (unofficial withdrawal)
For students who withdraw without notifying the institution, the institution must determine the student’s withdrawal date within 30 days after the expiration of the earlier of the:
- payment period or period of enrollment;
- academic year in which the student withdrew; or
- educational program from which the student withdrew.
The withdrawal date for unofficial withdrawals is the midpoint of the applicable period, except:
- If the student left without notification because of circumstances beyond his/her control, the institution may determine a withdrawal date related to the circumstances. The Financial Aid Director is responsible for making this determination.
- The institution may, at its option, use the student’s last date of attendance at a documented “academically-related activity” in lieu of any other withdrawal date. “Academically-related activities” include activities confirmed by an employee of the institution, to include exams, tutorials, academic advisement, turning in a class assignment, and attending a study group assigned by the institution. Residing in institution-owned facilities, eating at institution-provided food services, and participating in off-campus study groups not assigned by the institution are not “academically-related activities”.
Withdrawal date (official withdrawal)
The withdrawal date for official withdrawals (student notified the institution the he/she was withdrawing) is the date the student began the institution’s withdrawal process or officially notified the institution of intent to withdraw, except the institution may, at its option, use the student’s last date of attendance at a documented “academically-related activity” in lieu of any other withdrawal date. “Academically-related activities” include activities confirmed by an employee of the institution, to include exams, tutorials, academic advisement, turning in a class assignment, and attending a study group assigned by the institution. Residing in institution-owned facilities, eating at institution-provided food services, and participating in off-campus study groups not assigned by the institution are not “academically-related activities”.
Date of institution’s determination that a student withdrew - For a student who officially withdrew, this date is the later of:
- The withdrawal; or
- The date of the student’s notification to the institution.
For a student who unofficially withdrew (withdrew without notifying the institution), this date is the date that the institution becomes aware that the student ceased attendance.
The “date of institution’s determination that a student withdrew” is used for the following purposes:
- It provides the dividing date between disbursed aid and late disbursements; and
- It starts the clock for the period of time within which the institution must return federal funds.
Suspension/Withdrawal
If a student is withdrawn based on a school initiated suspension or involuntary withdrawal during a period of enrollment the date used for the withdrawal date is as follows:
- If the student is given the option to appeal the suspension or involuntary withdrawal and does not appeal within the time frame allowed then the date of the initial suspension letter is used in the calculation; the College may, at its discretion, use the last date of attendance as described above.
- If the student does not appeal and can attend classes during the appeal process (regardless of whether they attend or not) then the official date on the appeal denial letter from the College will be used for calculations rather than the initial suspension letter date.