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Financial Aid Notification

Academic year 2023-2024:

Students who have been accepted for admission and for whom Carroll received results of the FAFSA on or before February 1 will receive a need-based financial aid offer in February . 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 February 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 2023-24 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.