SUMMER 2014 AWARD POLICY
Students requesting summer aid must be enrolled in a degree program at Cayuga Community College. Applicants must submit a "Request Form" to be evaluated for summer aid. Awards will be evaluated as follows:
Eligibility for a PELL Grant will be calculated based on registration status. Students who have received the maximum Pell Grant amounts during the previous fall/spring semesters will NOT be eligible for a summer Pell Grant award.
2. Campus-Based Aid:
Placement of college work study positions will be done upon request from departments and availability of funds.
3. Direct Loans:
In order to be evaluated for a 2014 summer loan a student must submit a loan request form. The student must have a 2013/14 Federal Student Aid Report on file. Loan recipients must attend 6 credits. What a student borrowed during the previous Fall/Spring semester will affect eligibility to borrow during the summer session. Summer loans will be disbursed in two separate disbursements once a student has begun attendance in six or more credits. For a schedule of summer disbursements, see the Financial Aid Office.
4. TAP Awards:
Students who want to defer tuition on an approved TAP Award Certificate must complete an approval form in the Financial Aid Office. TAP awards are based on a 2014/15 application and normally are not received until October 2015. Students must be registered for 6 credits for TAP and meet other eligibility requirements. TAP deferrals will not be available unless the New York State budget is passed prior to the summer bill due date.
Deferments - For summer, students may defer tuition on approved awards from PELL, TAP or student loans. Book deferrals can be processed on excess aid from actual PELL, TAP or student loans awards.
If a student withdraws from summer courses their financial aid awards may be adjusted or cancelled.
Student Responsibilities - Students are responsible for letting the Financial Aid Office know if anticipated enrollment in courses changes from that which was indicated on the "Request Form". Students who do not attend classes and are withdrawn may owe the college money.
Disbursements - Any remaining PELL will be disbursed by mid-July. No excess financial aid will be refunded to students until an amount exceeding a student’s bill is eligible for disbursement. Student loan disbursements are described above.
Required accumulated credits
Each semester, after final grades are complete, total accumulated credits will be checked. Any deficiency must be made up to remain eligible for further federal financial aid. The following table shows the required academic progress.
Required Accumulated Credits
Required Credits Attempted
% of Credits Successfully Completed
No Federal Aid (No Warning semester)
If you fall below the required completion rate and/or GPA you will be given a one-time warning semester to regain eligibility. After the warning semester, if you have not regained eligibility, you may apply for a waiver showing extenuating circumstances or demonstrating academic success by completing all classes for which you are registered (at least six credits) with passing grades, no W’s, F’s or incomplete grades, and a 2.0 GPA for the semester. Contact the Financial Aid Office for the form.
Students who are pursuing a second degree or who have completed a degree program change MAY be granted a waiver for additional limited financial aid eligibility beyond the maximum time listed. Contact the Financial Aid Office.
Sumpolicy: rev. 3/14
REQUEST FORM FOR SUMMER AID*
Students requesting summer aid must be enrolled in a degree program at Cayuga Community College.
FORMS SHOULD BE SUBMITTED AS SOON AS POSSIBLE FOR PRIORITY CONSIDERATION.
All students enrolled for summer courses will be evaluated for PELL eligibility by the Financial Aid Office if:
1. They have maintained Satisfactory Academic Progress.
2. Have a valid 2013/2014 FAFSA on file.
3. They have not received the maximum Pell Grant amounts during the previous fall/spring semesters at
To receive a Student Loan a student must:
1. Submit a loan application available in the Financial Aid Office.
2. Register for and attend at least 6 credits during the summer session.
3. Not have received the maximum loan amounts during the previous Fall/Spring semesters.
4. Have a valid 2013-2014 FAFSA on file.
List below other colleges you have attended during the 2013/2014 academic year including summer 2013.
1. _____________________________ 2. ____________________________ 3. ____________________________
I understand that my summer financial aid award will be based on my enrollment at the time the award is made. I understand that I must notify the Financial Aid Office of any changes to my summer schedule.
I understand that my award may be adjusted, canceled or delayed:
1. If I withdraw from any classes.
2. If I do not attend all my classes.
3. If any of my classes are canceled.
4. If my schedule changes in anyway.
5. If I fail to successfully complete any classes.
I understand that changes in my schedule that result in changes to my financial aid may cause me to owe money for courses previously covered by aid.
Signature Print Name
C Number __________________________________________________________________________
*Refer to "Summer Award Policy" for more detailed information on available aid and student responsibilities.
William D. Ford Federal Direct Student Loan
Cayuga Community College
· Completed loan application must be returned to the Financial Aid Office.
· A completed FAFSA must also be on file and all requirements met.
· A promissory note must be completed on line at http://studentloans.gov using your
PIN available at www.pin.ed.gov (this is the same PIN used for your FAFSA).
· First time borrowers at Cayuga must complete Entrance Counseling at http://studentloans.gov
Using your PIN available at www.pin.ed.gov (this is the same PIN used for your FAFSA).
· Student must be registered in at least 6 credits at the time the loan is disbursed.
· Students must maintain Satisfactory Academic Progress (SAP).
· Summer loans will be disbursed in two disbursements.
How much can I borrow?
First year students may be eligible to borrow up to a maximum of $3500 and students who have completed at least 28 credit hours may be eligible to borrow up to a maximum of $4500 per academic year. Dependent students may be eligible to borrow an additional unsubsidized loan of $2000. Independent students may be eligible to borrow an additional $4000 per academic year. Summer loans maximums will generally be limited to half of the academic year maximums or the remainder of a student’s academic year eligibility, whichever is less. The amount a student can borrow is also determined by the student’s school costs, other financial aid the student may receive, and the student’s Expected Family Contribution (EFC). The government deducts a .5% fee from all loan disbursements.
C Number ______________________________________________________________________________
Amount of Loan Request $___________________________________
If my bill at Cayuga is deferred by this loan, and I fail to meet all of the requirements for disbursement, I will owe Cayuga County Community College the amount deferred and I will be obligated to pay collection charges for any amount not paid when due.
Student Signature______________________________________________ Date______________________
Approved amount: ______________________ Disapproved - reason: ____________________________
You are applying for a loan -- which must be repaid!