CCHS :: Financial Information

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Financial Assistance | Student Rights & Responsibilities | How to Apply for Financial Aid

Welcome to the Financial Aid Office,

Contact: Valerie Richard
Director of Financial Aid
Email: vrichard@cabarruscollege.edu

Phone: 704-403-3507

Valerie Richard

Higher education is a great value; however meeting the cost can be a challenge. At Cabarrus College of Health Sciences approximately 86% of our students receive financial assistance in the form of grants, loans, student employment, and/or scholarships. I hope the information provided on our website will answer your questions about financial aid. If you click on the tab “How to apply for financial aid” this information walks you through the process of applying and provides all of the direct links you will need to use to apply as well as a list of the documents our office requires from each student.

Remember the sooner you start the process of applying for financial aid the better.

If you have questions regarding the financial aid application process or regarding financial aid eligibility, you can contact the Financial Aid Office at 704-403-3507.

Sincerely,

Valerie Richard
Director of Financial Aid

The goal of student financial assistance is to provide resources to students who without such funding would be unable to attend Cabarrus College of Health Sciences. The College begins with the assumption that the parents and students have the primary responsibility for meeting education costs to the extent that they are able, which often includes sacrifices. A clear understanding of college costs, resources and related issues may eliminate unnecessary concerns throughout the student’s college experience.

All students who plan to apply for financial aid must complete the Free Application for Federal Student Aid (FAFSA) form. In order to receive maximum consideration for all available financial aid programs, the FAFSA should be filed by April 15 prior to each academic year for which a student wishes to be considered for financial aid. Awards are made and students are notified by June 30.

Most financial aid is awarded on the basis of need. The amount of an award varies depending upon the student ’s demonstrated and verified financial need. Financial aid will only be awarded to students who are in compliance with federal and state regulations for receiving financial aid.

Information provided on the FAFSA and the amount of funds available for distribution determine the award amount.

Need is determined by subtracting the resources of the student and the family's contribution from the total student expenses.

The total financial aid awarded will never exceed the costs of attending Cabarrus College of Health Sciences.

The award may include a combination of funds from scholarships, grants, loans and student employment.

Financial aid awards from scholarships, grants and loans may be applied to the cost of attending Cabarrus College of Health Sciences and are generally credited directly to the student's account. Earnings from Federal Work Study jobs are paid directly to the student.

Satisfactory Academic Progression

Policy
Students must comply with the satisfactory academic progress policy to continue to qualify for financial aid at CCHS. The CCHS policy meets the minimum statutory and regulatory federal requirements for qualitative and quantitative measures.

Procedure
At the end of each semester, the Financial Aid Director will review students who are eligible to receive financial aid for the next semester and determine their eligibility to continue to receive financial aid based on both qualitative and quantitative criteria.

Qualitative Measure

Based on the cumulative GPA
Cumulative GPA: Students must maintain a 2.0
Only the grade obtained for repeating the course will be used in determining GPA and is considered the final grade.

Quantitative Measure

Based on hours attempted and maximum time frame
Hours Attempted: 67% of the total credit hours attempted must be successfully completed. Hours attempted include transfer hours accepted, hours for courses that are repeated, hours from course withdrawal, etc.
Maximum Time Frame: Federal regulations limit the maximum time frame to no more than150% of the length of the program as measured in credit hours. Hours attempted include transfer hours accepted, hours for courses that are repeated, hours from course withdrawal, etc.
Examples of the 150% rule are:

Associate degree programs:
Example for ADN: 71 credit hours x 150% = 107 credit hours attempted

Diploma programs:
Example for ST-D: 39 credit hours x 150% = 59 credit hours attempted

Baccalaureate degree completion programs:
Example BSN: 59 credit hours x 150% = 89 credit hours attempted

The quantitative and qualitative standards used include all periods of enrollment even periods in which students did not receive Financial Aid. For students who change majors, only the credits attempted and accepted by the registrar toward the new major will be included in the calculation of the SAP.

Appeals

Satisfactory academic decisions (except the 150% rule) may be appealed in writing to the Dean for Administrative Services. The appeal must be in writing and must include:

student's name
social security number
facts upon which the appeal is based
resolution sought

Appeals generally given consideration involve the following:

Students will be notified of the appeal decision within two weeks of receipt of the written appeal request.

NOTE: Students not meeting both qualitative and quantitative measures will not be eligible for financial aid until they are able to re-establish satisfactory academic progress or their appeal is approved.

Types of Assistance

Scholarships

Cabarrus College of Health Sciences receives financial support for scholarships from endowed memorial funds, community organizations and foundations that provide funding for qualified students. This assistance is applied only to the cost of tuition, fees and books for the current academic year. In addition, students may participate in a number of state and federal programs.

Endowed Scholarships

Louise Harkey Memorial Scholarships
Dr. John J. & Doris Smerznak Scholarship
Mary " Gibby" Lee Scholarship
G. E. Lentz Scholarship
Jean Tippett partridge Memorial Scholarship
Caroline Walker Memorial Scholarship
Dr. Russel Floyd Scholarship
Anita A. & Terry L. Brown Scholarship
Kay Linker Pediatric Nursing Merit Scholarship
Dr. Linny & Joyce Baker Scholarship
Dr. & Mrs. Thomas T. Long III Scholarship
NEMC Volunteers Scholarship

Foundation Scholarships

Lettie Pate Whitehead Scholarship Fund

Community Scholarships

Cabarrus County Medical Society Alliance Scholarship
Cabarrus Rotary Club Scholarship
Concord Rotary Club Scholarship
Voiture Forty & Eight Club Scholarship
Robert Weaver Scholarship (sponsored by Royal Oaks Optimist Club)

Other Scholarships

Students should investigate scholarship opportunities available through their parents' employers, memberships or club affiliations, churches or resources accessed via the Internet. Some examples include:

Concord Business and Professional Women's Organization
Foundation for the Carolinas
The Great 100 Scholarship Program
North Carolina League for Nursing

In addition, many occupational groups support students who are interested in pursuing a career in their field. Some examples include:

Cabarrus County Medical Assistants
The American Occupational Therapy Foundation

* Please note: These are only some examples of the many opportunities available.

State and Federal Programs

North Carolina Legislative Tuition Grant - The State of North Carolina provides a grant to North Carolina residents who have no previous degree and are enrolled three quarter to full-time in a North Carolina private college in a degree program. The amount available to students in 2007-2008 was $1950.00 ($975 for fall and spring semesters). Students eligible for the program are sent the appropriate forms to verify residency and status.

North Carolina State Contractual Scholarship Fund - Funds for this grant program are made available by the State of North Carolina to aid residents of North Carolina. Award amounts vary. Eligibility for this program is based on state residency and financial need.

North Carolina Student Loan Program for Health Science and Mathematics - This program is administered by the North Carolina State Education Assistance authority for North Carolina residents. If unconditionally accepted into the program, students may borrow up to $3,000 per year for a maximum loan amount of $6,000 for two years. Eligibility is based on financial need. Deadline for submitting an application is June 1. Loan may be repaid through service cancellation.

North Carolina State Student Incentive Grants - Available to North Carolina residents who have substantial financial need.

North Carolina Education Lottery Scholarship - Available to North Carolina residents who meet all eligibility requirements.

North Carolina Nurse Scholars Program (NSP) - A competitive merit scholarship loan program funded by the North Carolina General Assembly. Deadline for submitting an application is May 1. Application available at www.cfnc.org

Nurse Education Scholarship Loan Program (NESLP) - Loan amounts range from $400 to $3,000 per year. Loan may be repaid through service cancellation. Eligibility is based on financial need and loan application approval.

Federal Pell Grants - Grants awarded to eligible undergraduate students who have not earned a bachelor's or professional degree. Eligibility is based on need and credit hours enrolled.

Federal Academic Competitiveness Grant - Grants awarded to recent high school graduates who meet the requirements of the Federal Pell grant and have completed a rigorous High School Program.

Federal Work Study Program - Provides jobs for students with financial need and encourages community service work and/or work related to the student's course of study. The total award depends on level of need and funding level for the College.

Federal Stafford Loans (Subsidized and Unsubsidized) - Eligibility for a Federal Stafford Loan is determined by the Financial Aid Office at Cabarrus College of Health Sciences. Loans made available through the Federal Family Education Loan Program can be made through any lender the student chooses to use.

You may qualify for a Federal Stafford Loan based on the results of your Free Application for Federal Student Aid (FAFSA). If you receive a need-based “Subsidized Federal Stafford Loan,” the interest will be paid by the Federal Government while you are in school at least half-time and during your “grace” period. If you do not qualify for the Subsidized Federal Stafford Loan you may receive the non-need based “Unsubsidized Federal Stafford Loan.” If your loan eligibility is from the Unsubsidized Federal Stafford Loan, you are personally responsible for the interest throughout your enrollment and “grace” periods, as well as during the repayment period.

For Federal Stafford loans disbursed on or after July 1, 2008 through July 1, 2009 the interest rate for Federal Subsidized Stafford loans are 6.0% fixed and for Unsubsidized Federal Stafford loans 6.8% fixed.

Academic Year Loan limits as determined by Federal guidelines:

Freshman - $ 3500
Sophomore - $ 4500
Junior - $ 5500
Senior - $ 5500

Students who are Independent as determined by the FAFSA form may be eligible to receive an additional $ 4000 in Federal Unsubsidized Stafford Loans.

Student Loan borrowers may use any lender. Use of one of our school’s preferred lenders is not required!

Cabarrus College of Health Sciences has developed the preferred lender list below based on results of a survey developed by the college and completed by the lenders. The CCHS survey tool included both Qualitative and Quantitative measures and requested information from lenders. Examples of some information considered are borrower benefits including savings to the student, customer service options, and default rates. If you have additional questions about the selection of lenders for the preferred lender list you may contact the Director of Financial Aid.

CCHS Preferred Lender List:

Information about Stafford loans and the benefits available from each lender are available online. Students are encouraged to research which lender will work best for them.

CFI : www.cfnc.org

Lender pays the 1% Origination fee for the student.

WACHOVIA: www.wachovia.com/education

Student is responsible for paying the 1% Origination fee.

WELLS FARGO: www.wellsfargo.com/student

Student is responsible for paying the 1% Origination fee.

Students are encouraged to compare benefits for different lenders. Simple tuition is a tool to help students compare lenders please see the link at the bottom of this page.

Federal Supplemental Educational Opportunity Grant (FSEOG) - Grants awarded to eligible undergraduate students who have not earned a bachelor's degree. Eligibility and award amount is based on financial need.

Federal PLUS Loans to Parents - Long-term loans made to parents of dependent students.

Hope Scholarship - A tax credit available to eligible students enrolled in the first or second year of an educational program. The maximum amount of the tax credit is $1,500 per year - 100% of the first $1,000 of net tuition and fees paid plus 50% of the next $1,000 of net tuition and fees paid in a tax year.

Lifetime Learning Credit - A tax credit up to $1,000 of total qualified net tuition and related expenses paid during the tax year.