Funds awarded to the student under these categories do not have to be repaid. Sources of grant funds are the Federal Government and the state of North Carolina. Grants are usually awarded to students who demonstrate the greatest financial need.
- Federal Pell Grants: Grants awarded to eligible undergraduate students who have not earned a bachelor's or professional degree. Eligibility is based on the FAFSA results, need and credit hours enrolled. The federal government limits the total semesters a student can receive a Federal Pell Grant. The Department of Education limits the amount of Federal Pell Grant a student can receive in their lifetime.
- Federal Supplemental Educational Opportunity Grant (FSEOG): Grants for undergraduates with exceptional financial need; that is, students with the lowest expected family contributions with priority given to students who receive Federal Pell Grants. FSEOG is also a need-based grant that does not have to be repaid.
- studentaid.ed.gov - The Department of Education's website for Federal Student Aid (FSA) programs. Complete your FAFSA at this site.
- cfnc.org - Student Financial Aid for North Carolinians booklet
- cfnc.org/FELS - Forgivable Education Loans for Service. The Forgivable Education Loans for Service provides financial assistance to qualified students enrolled in an approved program and committed to working in critical employment shortage professions in North Carolina.
- fsaid.ed.gov/npas/index.htm - Apply for a FSA ID so that parents and student can sign a FAFSA each year and Stafford Loan applications (keep this information to use again every year).
- studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service - Public Service Loan Forgiveness
- studentaid.gov - Direct Loan Information
- nagps.org - National Association of Graduate Students
Today enrolling in college to achieve a career goal is a big commitment. Cabarrus College provides a wonderful opportunity to obtain a degree that allows students to graduate and find high paying positions in the healthcare field. Cabarrus College has Federal Loan Default rates that stay consistently well below the national and state average. This means while our students may use Federal Loans to help pay for school, they are also able to find a job in the healthcare field and repay their loans. When considering potential schools this is an important consideration. We believe that Financial Literacy is important to our students so that they can make informed and effective decisions with all of their financial resources. Our hope is that students will not only think about finances when it comes to repaying their loans but also throughout their time at our college. An understanding of available resources is important, and we have provided some useful links below. Our students also have additional information available to them through CANVAS our student learning system within the Financial Literacy modules.
Financial Literacy Guidance from Federal Student Aid
- aota.org - Occupational Therapy Students
- cfnc.org - Research careers research scholarships, grants and loan information and access the Student Financial Aid for North Carolinians booklet
- financialaidtips.org - Variety of scholarship searches
- fastweb.com - Customized scholarship search
- hsf.net - Scholarship opportunities for Hispanic Americans
- thencshp.org - Scholarship opportunities for Hispanic Americans
- nsna.org - Currently enrolled nursing students
- rankinfoundation.org - Scholarships available to low-income women; ages 35 and older. Continuing Education Students can apply
- ptk.org - Phi Theta Kappa Honor Society
- fftc.org - Foundation for the Carolinas
- aotf.org - The American Occupational Therapy Foundation (AOTF)
- F.A. Davis Nursing and Allied Health Scholarships - scholarship opportunities for nursing and allied health
- careeronestop.org - Customized search for scholarships, fellowships and grants through the U.S. Department of Labor
- American Association of Colleges of Nursing - Scholarship opportunities for Nursing students
- No Essay Scholarship | Apply for Easy Scholarships with NC Assist (cfnc.org) - NC Assist Scholarship Contest
Satisfactory academic progress (SAP) is the term used to define successful completion of coursework to maintain eligibility for student financial aid. Federal and state regulations require the Financial Aid Office to establish, publish and apply standards to monitor students' progress towards completion of their degree or diploma program.
Students must comply with the SAP policy to continue to qualify for financial aid at Cabarrus College. This policy meets the minimum statutory and regulatory federal requirements for qualitative and quantitative measures.
For diploma students at the end of each semester and for degree students once each academic year at the end of spring semester. For students who have been approved for a change of major, progress is measured before they begin classes in their new program. Students who withdraw or take a curriculum leave of absence will have satisfactory academic progress measured upon their return and before re-enrolling. The financial aid director will review the performance of students and determine their eligibility to continue to receive aid based on both qualitative and quantitative criteria.
Students who do not meet 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.
More information on the qualitative and quantitative measures and appeals can be found in the college catalog.
At Cabarrus College of Health Sciences, a facility of Atrium Health Cabarrus, we will never:
- Accept payment or other material benefits from any outside entity in exchange for loan referrals or preferential treatment
- Accept gifts from any lender, guarantor or servicer of education loans
- A gift is defined as any gratuity, favor, discount, entertainment, hospitality, loan, other item having monetary value of more than a de minimus amount
- A gift IS NOT:
- A brochure used for default aversion or financial literacy
- Food, training, or informational material provided as part of training to improve service
- Entrance or Exit Counseling assistance that does not promote any specific lender
- Philanthropic contributions unrelated to loans
- State education grants or scholarships
- Accept consulting fees or other contractual financial benefits from a lender or provider of student loans
- For any first-time borrower, assign through award packaging or other methods, the borrower's loan to a particular lender
- Intentionally delay certification of loans based on the borrower's selection of a particular lender or guaranty agency
- Accept a pool of funds from a lender in exchange for federal loan referrals, specified loan volume or a preferred lender arrangement for such loans
- Accept services or staffing assistance from any outside entity in exchange for preferential treatment of referrals
- Accept compensation in exchange for appointments to advisory committees or boards of any entity involved in the processing of alternative student loans
The Financial Aid Office will always maintain exemplary standards of professional conduct in all aspects of carrying out our job responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity.
Students are expected to fulfill certain responsibilities:
- Review and consider all information about a college’s program before enrolling.
- Pay special attention to the application for student financial aid, complete it accurately and submit it on time to the right place. Errors can delay the receipt of financial aid. Intentional misreporting of information on application forms for federal financial aid is a violation of law and is considered a criminal offense subject to penalties under the US Criminal Code.
- Return all additional documentation, verification, corrections, and/or new information requested by either the college or the agency to which the application has been submitted. These required forms can be viewed when a student logs into their Net partner account and required completed documents must be uploaded back to their net partner account.
- Read and understand all forms before signing and keep copies of them.
- Accept responsibility for all loan agreements signed. No loan funds will be certified by the school until the student has completed the required Federal Entrance Loan Counseling and Master Promissory note available at StudentAid.gov. Know what you will have to repay - sample loan repayment information is available also at StudentAid.gov.
- Students who accept Federal Direct loans while enrolled are required to complete Federal Loan Exit counseling prior to graduation or if leaving the college. All accounts will remain on hold until this requirement is met.
- Loan recipients must notify the College and the lender of changes in address, name, or College status.
- Know and comply with the deadlines for application or reapplication for aid.
- Know and comply with the College’s refund procedures.
- Notify the business or financial aid office of any change in course load.
- Notify the financial aid office of any change in financial situation, either before or after awarded.
- Changes in federal or state policy could affect the awards offered.
- Students must meet the Satisfactory Academic Progress policy requirements to continue to be eligible for all types of Financial Aid.
- Financial aid disbursements are posted to the students account to cover current charges.
- Any time a credit is created on the account a refund check is mailed to the student’s home address.
- Complete and current financial aid information (i.e., policies and procedures, types of aid, handbook, etc.) is available from the Financial Aid Office upon request. To request information, call 704-403-3507.
An education in the health sciences involves time, money and effort. It is a large investment and requires careful evaluation. To make the best choice, a student should understand a college’s academic program, facilities, dropout rates, full cost of attendance, refund policy and financial aid programs. Students should also ask about any other details they think would help them make their decision.
Students have the right to ask a college:
- What financial assistance is available, including information on all federal, state and institutional financial aid programs?
- What are the deadlines for submitting applications for each of the financial aid programs available?
- What is the cost of attending and what are the policies on refunds?
- What criteria are used to select financial aid recipients?
- How does the college determine the financial need? This process includes how costs for tuition and fees, travel, books and supplies, living expenses, and miscellaneous expenses are considered in the budget.
- What resources (such as parental contribution, other financial aid, assets, etc.) are considered in the calculation of need?
- How much of the financial need, as determined by the institution, has been met?
- What programs are in the student aid package? (If students believe they have been treated unfairly, they may request reconsideration of the award).
A bookstore voucher will be provided by the seventh day of the payment period to any student who meets all of the following requirements before the beginning of the payment period.
- Has completed a current FAFSA form and listed Cabarrus College
- Has provided all required financial aid documents requested
- Is Pell grant eligible
- Would have a credit based only on Federal Student Aid sources
Students do not have to use the bookstore voucher provided and use of the voucher is considered to have authorized the use of the FSA funds.
- Apply for scholarships and financial aid as early as possible.
- Check for scholarships sponsored by local organizations, especially those in which you or your parents participate, such as your church; parent's place of employment; and civic and community clubs such as the American Legion, YMCA, 4-H Club, Elks, Rotary, Lions, Masons, Kiwanis, Jaycees, Chamber of Commerce, and the Girl or Boy Scouts.
- Research scholarship and grant opportunities at your local library as well as online. See the Scholarships section on the Resources page. In performing an internet search, use keywords that apply to your situation, including:
- Professional organizations in the field you want to study. For example, a search for "nursing " results in several links from groups in the profession. Also, try keywords like "surgical technologist," "medical assistant," "occupational therapy assistant," or "imaging technologist."
- Your gender (some private scholarships are awarded based on gender).
- Your age, especially if you are a "non-traditional" student. Students are considered non-traditional if you are returning to college after spending some time away from education or are attending college for the first time and are 25 years or older.
- Your ethnicity/minority status.
- Any disability you or your parents may have.
- Veteran status you or your parents may have.
- Student organizations in which you are involved (FFA, FHA, DECA, VICA, or Key Club).
- Your parents' or your employer, especially if it is a large corporation.
- Try searching both "scholarship" and "scholarships," as you will get different results. Also try multiple forms of other words, for example, nurse/nursing and disabled/disability/disabilities.
- Be sure to note the eligibility requirements, instructions, and deadlines for scholarships, and follow them carefully.
- Commit a day a week to find and apply for scholarships and stick to the schedule. For example, pick a day of the week, like every Sunday, and make a commitment that by sundown, you will have found three new scholarships to apply for and have filed applications for them.
- Do not take rejection personally or give up after the first couple of rejection letters. The more you apply, the more opportunities will be available to you.
- Watch out for scholarship scams. You should never have to pay to apply for a scholarship and if asked to do so, you should exit the application.
Federal Tax Credits
Students who attend college may be eligible for the American Opportunity Credit and/or the Lifetime Learning Credit. Additional information is available at IRS.gov. The business office is responsible for sending out the 1098t form every January for students and or student's parents to use in filing taxes.