Enrollment and Aid Eligibility.
To be eligible to receive most types of financial assistance from CIM, you must register for a full-time class load. An undergraduate full-time load is 12 credit hours. Full-time load for graduate students is 9 credit hours.
Students who attend half-time may receive prorated Federal aid, if eligible. Half-time is 6 credit hours for undergraduate students and 5 credit hours for graduate students. Enrollment for less than a full-time class load must be approved in advance by the CIM Dean.
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Meeting All of Your Financial Need.
While we do our best to meet as much need as possible, CIM cannot guarantee to meet all of your financial need. Awards may include a combination of scholarships, grants, loans, work study, service awards and fellowships. Degree program, year of attendance, FAFSA EFC (Expected Family Contribution), CIM funding levels from the government, and our institutional budget all are factors in determining how much we may award you from any type of aid.
As the above-mentioned factors change from year to year, the amount offered from each type of aid may vary, other than the CIM Scholarship, which is renewed at the same level each year for the normal duration of the program, assuming renewal deadlines are met and the student maintains satisfactory GPA, academic and artistic progress.
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International Students.
Prior to confirming the status as an accepted/confirmed new student, all international students are required by the U.S. Dept. of Homeland Security to document the ability to pay for the first year at CIM. This is required to obtain the I-20 needed to get the F-1 visa. While this requirement only pertains to ability to pay for the first year, please plan ahead to be sure you will be able to fund the remaining years of your enrollment.
If you have a sponsor or other aid to help pay the first year, and it is not available in subsequent years, CIM shall not be expected to make up the difference. Remember, the CIM Scholarship is renewable at the SAME level each year for the normal duration of the program (assuming GPA, academic and artistic progress requirements are being met). Newly admitted international applicants must show documentation of ability to pay prior to being confirmed as a new student and this process should be complete by the April 15 (graduate) or May 1 (undergraduate) Intent to Enroll deadlines.
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FAFSA EFC (Expected Family Contribution).
Each year, U.S. citizens and permanent residents will submit the FAFSA (Free Application for Federal Student Aid) at www.fafsa.ed.gov. The processed result of the FAFSA is the EFC, the "Expected Family Contribution," which is the U.S. Department of Education's determination of your family's financial strength and the amount their formula predicts your family can pay for that academic year's educational costs for you.
The EFC is the key element for determining most Federal and state aid eligibility - some of which is need-based and some of which is not. A zero EFC indicates the highest financial need and a 99999 indicates the lowest. Even if you feel your family situation will not result in financial aid, we do require all to complete the process, as CIM Scholarships take into account both merit and financial need.
Your EFC can result in different aid outcomes depending on the school, as not all schools participate in the same aid programs. With the variance in cost among schools, you may not qualify for a specific type of aid at one school, but you may at another. The FAFSA is required to make that determination. The EFC does not mean that CIM specifically will expect you and your family to pay that amount, but we are required to use that number in the aid awarding process.
TThe FAFSA is year-specific. Your EFC may fluctuate from year to year, which may cause your Federal and state aid to fluctuate as well. As the EFC goes up, your need-based eligibility goes down, and vice versa. If you wish to get a better idea of where you will stand prior to completing your actual year-specific FAFSA, you may complete the "FAFSA 4caster" in advance at www.fafsa4caster.ed.gov.
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FAFSA Verification.
Roughly 30% of all FAFSAs are selected by the Dept. of Education for Verification each year. This is to verify that FAFSA data is accurate and to maintain the integrity of the Federal student aid system. If selected, you will be required to submit a Verification Worksheet and completed tax returns for students and parents (if a dependent student). No Federal aid can be disbursed until Verification is complete.
DO NOT send any tax forms until you are asked to do so from the CIM Financial Aid Office. If there are any changes or corrections needed from your Verification that result in a change to your EFC (Expected Family Contribution), it may cause your financial aid award to change as well, as required by the Department of Education. Any financial aid appeals due to special circumstances (see below) will require Verification, if not already selected.
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Dependent vs. Independent Student Status.
There are specific questions on the FAFSA that determine student dependency status. If you can answer "yes" to any one of them as of the date you complete the FAFSA, you are independent; if not, you are dependent. You do not have the option to declare yourself independent just because you may live away from your parents, fully support yourself or if your parents cannot or will not help you financially. For the 12-13 FAFSA and academic year, these are the dependency questions:
- I was born before January 1, 1989
- As of today, are you married? (Also answer "Yes" if you are separated but not divorced.)
- At the beginning of the 2012-2013 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, PhD, graduate certificate, etc.)?
- Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training?
- Are you a veteran of the U.S. Armed Forces?
- Do you have children who will receive more than half of their support from you between July 1, 2012 and June 30, 2013?
- Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2013?
- At any time since you turned age 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court?
- As determined by a court in your state of legal residence, are you or were you an emancipated minor?
- As determined by a court in your state of legal residence, are you or were you in legal guardianship?
- At any time on or after July 1, 2011, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless?
- At any time on or after July 1, 2011, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless?
- At any time on or after July 1, 2011, did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless?
Financial Aid Administrators have the discretion to consider Dependency Overrides, where the student may be reclassified from dependent to independent status for aid purposes. This determination is made on a case by case basis and requires documentation of unusual circumstances (such as parental abuse or abandonment of student) to warrant the override consideration.
The Department of Education specifically does NOT allow the following, singly or in combination, to qualify as unusual circumstances meriting a dependency override:
- Parents refuse to contribute to the student's education.
- Parents are unwilling to provide information on the FAFSA or for verification.
- Parents do not claim the student as a dependent for income tax purposes.
- Student demonstrates total self-sufficiency.
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Special Circumstance Appeals.
While the CIM Scholarship is expected to remain at the same level for the normal duration of your enrollment, under special circumstances, it is possible to appeal for a review of your aid and/or an adjustment to FAFSA data, to make it reflect current year situations instead of the prior tax year. This may improve your eligibility to receive other financial aid. By adjusting FAFSA data, the EFC may be recalculated to more accurately reflect updated financial details. This may help if your income and/or expenses are significantly different from the previous year, as reported on the FAFSA.
Special circumstances may be situations such as:
- Loss of parent job or reduction of family income by at least 25% for more than 10 weeks.
- Divorce or separation of student or parents.
- Major medical expenses.
- Illness or death of family member.
- Purchase of a new instrument.
To have special circumstances reviewed, the student (and parent, for dependent students) will need to complete the Special Circumstances Appeal Form, which is available upon request by the Financial Aid Office.
If you were not already selected for Verification, you will need to provide tax return(s) and complete the Verification process. Documentation is required to substantiate the financial reason for the appeal (letter from employer, doctor, etc). CIM cannot guarantee that an appeal will result in increased aid, nor can CIM be expected to supply institutional financial aid to cover an unexpected loss of financial resources while enrolled for study. In such circumstances, the student may need to secure additional private funding or loans or withdraw from school.
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Satisfactory Academic Progress (SAP).
To be eligible for nearly all kinds of financial aid, including CIM scholarships, Federal and state aid, and even most private loans or scholarships, a student must maintain Satisfactory Academic Progress (SAP). CIM's Registrar and Deans Offices determine the academic standards that students are expected to meet. CIM's SAP policy is detailed here.
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Academic & Artistic Probation, Separation and Appeal Process.
Please refer to the CIM College Catalog for details of these policies.
For Financial Aid Appeals (applicants and current students), CIM makes its best offer of financial assistance in the initial award made to students prior to the first semester of study. CIM understands that certain circumstances may present your family with unique financial challenges and therefore newly admitted students may request reconsideration of our aid offer through a formal appeal process. Email your request to the Director of Financial Aid, at financial.aid@cim.edu and the appropriate Appeal Form will be provided. Newly admitted student appeals will not begin the review process until all admitted students have received an aid offer, or by April 1, whichever is first.
Current student appeals may be completed for events such as parent loss of job, major illness or death of family member, one-time extraordinary non-voluntary expenses, separation or divorce of student or parent, etc. The event must be recent and/or involuntary. Receipts, canceled checks, letters from employers or doctors may be required to verify your claim. If you have completed a FAFSA, and the claim is warranted, the CIM Financial Aid office may consider processing a “Professional Judgment” adjustment to your FAFSA to account for income or expense amounts applicable for tax year 2011, which may result in a lower EFC. For all such special circumstance appeals to be considered, completion of the Verification process (if not already selected by Department of Education), which requires signed copies of student (and parent, if dependent) 2011 tax returns in addition to the Appeal Form must take place before your review will occur. Please allow 2 weeks for the results of this appeal. This Appeal Form is available upon request from the Financial Aid Office for admitted or current students only. Email your request to the Director of Financial Aid, at financial.aid@cim.edu, and the appropriate required Appeal Form will be provided to you.
Not all appeals will result in increased aid. Nor should CIM be expected to provide institutional financial aid to cover an unexpected loss of financial resources while enrolled for study. In such circumstances, the student may need to take out additional loans privately, take a leave of absence or withdraw from school. Ability to pay is a consideration that must be made when deciding which school to attend. CIM's admission philosophy is to encourage students and parents to find a school that is "the best fit"; "best fit" includes financial affordability. All appeals are considered on a case by case basis. Once we receive your tuition deposit and other applicable items to confirm your intent to enroll, we are unable to accept further appeals unless the triggering event that warrants an appeal occurs after the date of confirmation of Intent to Enroll.
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CIM Refund Policy / Return of Federal Title IV Aid.
When a student withdraws from school without completing a period of enrollment (semester), the school must determine the amount of Federal Title IV funds "earned" for the portion of the payment period or period of enrollment the student attended. Unearned Federal student aid must be returned. Earned aid that the student has not yet received must be offered to the student by the school as a post-withdrawal disbursement.
- The Registrar and Dean Offices are designated as contact points for students who wish to withdraw.
- Registrar/Dean determines the withdrawal date and reports it to other CIM offices. The Financial Aid Office then notifies the Department of Education (NSLDS).
- The Financial Aid Director calculates the return of Title IV funds formula (per Federal regulations) and will notify the student of his or her obligation to repay funds, tracks the repayment, whether a repayment agreement will be offered and monitored by the institution, as well as the timing and responsibility for referring overpayments to DOE.
Please consult the CIM College Catalog for more details on the CIM refund/withdrawal policy.
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Part Time Enrollment: CIM Financial Aid and Billing Implications.
Part Time means any semester with less than a full time status and requires advance approval from the CIM Dean. For undergraduates, full time status requires a minimum of 12 enrolled credits as of the last day of drop/add for any term (including summer). Graduate full time status requires a minimum of 9 enrolled credits as of the last day of drop/add for any term (including summer). To be eligible for any institutional aid, a student must be enrolled as full time for a fall or spring term. No institutional aid is applicable for summer sessions, regardless of full time/part time status. With half time enrollment or more, (6 credits for undergraduate, 5 credits for graduate), a student may be eligible only for prorated federal Stafford, federal PLUS or private loans, as applicable. There are limited private loan opportunities for less than half time enrollment.
Students enrolled part time are billed the same fees as full time students, with the exception of the tuition fee itself. Instead of the standard full time tuition fee, the student is billed by the credit hour, which is calculated annually. For 2011-2012, this fee is $1589 per credit hour, per semester. The same payment policies apply to all students, regardless of enrollment status.
Any time a student drops below half time status, the grace period will begin for any loan(s) that they have. The grace period is a status where no payments on the loan are due, although interest will continue to accrue on any unsubsidized loan(s). Once the grace period has expired, normal repayment of your loan(s) begins, per the terms and conditions of the Promissory Note signed prior to the loan being disbursed. Stafford Loans have a 6 month grace period; Perkins Loans have a 9 month grace period; CIM Institutional Loans have a one year grace period. PLUS Loans have no grace period, but Graduate PLUS loan borrowers will generally receive the same grace period in place for their Stafford Loan. Consolidation loans have no grace period.
Students with federal loans from their time enrolled at CIM will receive a Federal Student Loan Exit Counseling packet from the CIM Financial Aid Office any time a student ceases to be enrolled at least half time, as less than half time does not qualify for the "in-school deferment" status. If your grace period expires but you later enroll at least half time or more, whether at CIM or any other school, you will NOT get a new grace period on loans borrowed previously. Only subsequent loans will get a grace period the next time you cease to be enrolled at least half time.
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State Homeschool Certificate or GED.
Your status as a home schooled student may affect your eligibility for Federal financial aid. Home schooled applicants are eligible to receive Federal Student Aid funds if their secondary school education was in a home school that state law treats as a home or private school. Some states issue a secondary school completion credential to home schoolers. If this is the case in the state where the student was home schooled, they must obtain this credential in order to be eligible for Federal Student Aid funds. Many homeschooled students also obtain a GED, which will fulfill the federal aid eligibility issue.
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How to obtain a Tax Return Transcript from the IRS.
