How 金融援助 is Awarded and Paid

The 金融援助 Office awards aid based on financial need. 经济需求是 difference between the cost of attendance (COA) and the estimated family contribution (EFC). A student’s EFC is determined by a federal formula that uses information provided by the applicant on the Free Application for Federal Student Aid (FAFSA). 一般来说, the 金融援助 Office offers a student a financial aid offer consisting of 格兰特s, loans, scholarships and work-study. We first award gift aid, such as 格兰特s and scholarships to students with high financial need, followed by self-help aid, such as work-study 贷款资金.

The Business Office applies funds to the student’s account, deducts any tuition and fees, and refunds the student any excess funds.

Summer Pell Grant funding will automatically be awarded, if available to you; summer loan funding may be available if enrolling in at least six credits and is to be requested 通过电子邮件写信给 enrollmentservices@mallorcaopen.net.

Financially eligible students may participate in the 第101法案计划, a state-funded program that offers one-on-one tutoring and counseling services, study skills workshops and individual guidance to help ensure that the students succeed in all courses 和一个chieve their academic goals. 学生 are encouraged to take advantage of these resources to support their academic progress. 

财政援助政策

• 该学生必须是美国人.S. 美国公民或国民.S. permanent resident, citizen of certain Pacific islands, or other eligible noncitizen.
• The student must be formally admitted to the College and have a high school diploma 或者GED.
• The student cannot be in default on a federally funded loan or owe a refund on a federal 格兰特.
• 学生 must be enrolled for at least six academic credits to be eligible for most 经济援助计划. Only certain federal Pell Grant recipients can receive financial aid at a less than half-time status.
• Financial aid does not cover audited courses or courses that do not fall within the student’s program of study/major.
• 学生 must attend the classes for which they are registered or they will not be eligible for the amount of aid offered.
• 学生 who completely withdraw at or before 60 percent of the term will have a Return of Title IV funds calculation run and may have to return a portion of their unearned federal financial aid and may owe tuition, fees 和一个 repayment of federal funds. 
• 学生 earn their federal financial aid based on the percentage of the term that 他们已经完成了. If a student withdraws from all courses within a semester or does not complete all courses for which they registered (in the case of module enrollment - i.e. 7 week 1 and 7 week 2 enrollment, for example) a Return of Title IV funds calculation 执行. If the calculation determines aid is required to be returned, federal funds must be repaid in the following order: Direct Unsubsidized 贷款, Direct Subsidized 贷款, PLUS 贷款s, federal Pell Grant and FSEOG funds.
• 学生 cannot receive financial aid for a class they intend to audit.
• 学生 applying for federal Direct 贷款 funds must complete 入学咨询 和一个 主本票 to understand their obligation for loan repayment. Upon graduating or dropping below a half-time status (6 credits) 出口咨询 也必须完成吗.
• 学生 with circumstances that have impacted the family's finances (such as death, disability, loss of income etc.) may have their financial aid offer reviewed to determine if additional funding sources may be made available to them. 如需更多资料，请 Contact Enrollment 服务, 金融援助 via email to enrollmentservices@mallorcaopen.net. 
• 学生 who perform services in the Peace Corps or under the Domestic Volunteer Service Act of 1973 or comparable service for a tax-exempt organization of demonstrated effectiveness in the field of community service may be eligible for a deferment on a FFEL/Direct 贷款.
• 学生 are eligible to receive Federal Pell Grant funds for the equivalent of six full-time years or 12 full-time semesters.
• PA State Grant recipients must comply with PHEAA’s Academic Progress Policy and meet PHEAA’s eligibility requirements.
• 金融援助 for the semester will not be disbursed (sent to the student's account at the College) until attendance reporting has been completed for the term in which a student is enrolled has been completed. 
• Satisfactory academic progress is required to maintain eligibility for financial aid.