Federal Financial Aid Academic Award Year Policy

Date of Original Implementation: N/A

Date of Last Revision: October 2011

Purpose

The Department of Education requires Cambridge College to define its academic year for financial aid awarding purposes. The academic year is used to define the student’s eligibility for all Federal Student Assistance programs.

Scope

This policy applies to all Cambridge College students.

Academic Award Year

For awarding purposes the Fall term is considered to be the beginning (header) of the academic award year for Cambridge College. The Summer term will be considered the end (trailer) for the academic award year. For determining eligibility and disbursing funds the Free Application for Federal Student Aid (FAFSA) year must match the academic award year. Example: Student applies to start for the Summer 2011 term. The academic award year is Fall 2010 to Summer 2011. Student must file the 2010-2011 FAFSA for financial aid eligibility. Student will be awarded for the Summer 2011 term only. For the next academic award year of 2011-2012 the student must file the 2011-2012 FAFSA. The student will be awarded starting with the Fall 2011 term and ending with the Summer 2012 term. Students may submit to the Director of Financial Aid an appeal if they wish to be awarded on a different schedule due to extenuating circumstances. All appeals must be in writing and contain appropriate supporting documentation. Each appeal will be reviewed on a case by case basis by the Director of Financial Aid.

 

Individual Responsible for Revision and Implementation: Director of Financial Aid