FINANCIAL AID
The purpose of financial assistance
programs is to assist undergraduate and graduate students who would be unable
to attend college due to lack of money. Financial aid available for Coastal
students is derived from federal and state government sources such as grants,
work-study, loans, scholarships, and Veterans Administration Benefits. Additional
scholarships are provided by Coastal Carolina University, along with other
funds available through private and public sources. The Office of Financial
Aid, Scholarships and Veteran Affairs is the source of information regarding
these programs.
To determine whether or not a student
is eligible for federal student financial aid programs, the student and his/her
family must complete the Free Application for Federal Student Aid by April
1 each year for priority consideration. The University expects students and
their families to share primary responsibility to meet the costs of college.
Students under the age of twenty-four are considered to be dependent on their
parents unless conclusive evidence of independence from parental support is
received and approved by the Office of Financial Aid, Scholarships and Veteran
Affairs. Attending graduate school is considered as evidence of independence.
In order to participate in federal
student financial aid programs, Coastal Carolina University is required by
federal regulation to maintain a financial aid office that coordinates the
delivery of all funds from all sources to students. All students who receive
aid in addition to federal student financial aid are required to report the
amount and source to the Financial Aid Office by August 1 each year. Students
must complete an application for financial aid every year.
OPERATING PRINCIPLES
Coastal supports
the following principles:
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The primary purpose of a financial aid program
should be to help provide financial assistance to students who, without such
aid, would be unable to attend college.
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The family of a student is expected to make a
maximum effort to assist the student with college expenses. Financial assistance
from colleges and other sources should be viewed only as supplementary to
the efforts of the family.
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The student who receives federal financial assistance
must maintain satisfactory academic progress in a program of study.
Specific Authorizations
As applicants' financial aid files
are completed, funds are awarded and the students are notified by mail. A
complete application for financial aid consists of a processed needs analysis
document, loan applications, and other documents requested for verification.
Veteran Education Benefits
Eligible veterans can receive assistance
by applying for educational benefits through Coastal's Veteran Affairs Office.
The U.S. Department of Veteran Affairs is the only agency that can determine
eligibility for and award this benefit. You can determine if you are eligible
by calling the VA Regional Office at 1-888-442-4551. You must then contact
Coastal's Veteran Affairs Office to obtain the appropriate forms for certification.
Students receiving VA educational
benefits are expected to maintain satisfactory progress towards a degree.
Normal standards of progress, as stated in the Catalog, are applicable to
VA students. Veterans or eligible persons must take courses that are essential
to their degree program and cannot receive VA benefits for courses that are
not essential to their program of study, or for repeating courses in which
they have earned a satisfactory grade, or for courses which are graded on
a Pass-Fail basis. To receive benefits for an Independent Study, approval
must be obtained from the S.C. Commission on Higher Education prior to certification
for the term.
Once enrollment has been certified,
the VA student is responsible for reporting any updates or changes to his/her
enrollment status to the Office of Financial Aid, Scholarships and Veteran
Affairs. This includes the dropping and/or adding of classes and complete
withdrawal from the University. Failure to do so may result in the termination
of benefits and possibly an overpayment situation.
The following is a synopsis of VA
Program Chapters:
Chapter 30: The Montgomery G.I.
Bill ("New" G.I. Bill). This program provides educational benefits
to individuals entering military service after June 30, 1985. A certified
copy of your DD 214 is required. Those with remaining entitlement under Chapter
34 ("Old" G.I. Bill) may be eligible under Chapter 30.
Chapter 31: Vocational Rehabilitation
for Service-Disabled Veterans. This pro- gram is for individuals who have
a compensable service connected disability, and the U.S. Department of Veteran
Affairs determines that training and rehabilitation services are needed to
overcome an employment handicap.
Chapter 32: Veterans Educational
Assistance Program (VEAP). This is a volun- tary contributory matching program
for individuals entering service for the first time after December 31, 1976
and before July 1, 1985.
Chapter 35: Dependents Educational Assistance Program. This program is for
dependents (spouse or children) of individuals who die or are permanently
disabled from service-connected causes.
Chapter 106: Montgomery G.I. Bill
- Selected Reserve. This program is available to members of the Selected Reserve,
including the National Guard. A form DD 2384 (NOBE) is required.
LOANS
Federal Carl D. Perkins Loan
The Federal Carl D. Perkins Loan
is a low interest loan to assist you in paying for your education. You may
be eligible to borrow up to $6,000 a year. As a student, you pay no interest
on the loan while attending school at least half time. The interest rate is
5 percent during the repayment period which begins 9 months after you leave
college or cease being enrolled as at least a half-time student. These funds
are limited and based on need.
To determine if you are eligible
you must complete:
* Free Application for Federal Student
Aid (FAFSA)
Federal Stafford
Loans (FFEL)
The Federal Stafford Loan is a
low interest college loan made by a lender, credit union, or savings and loan
association. These loans are insured by either the federal government or a
state guarantee agency. The interest rate is variable with a 8.25% cap. For
the 2002-2003 academic year, the rate was 3.46 percent.
You may be eligible to borrow up
to the cost of attendance with a $18,500 maximum. Of this amount, only $8,500
may be subsidized (no interest is charged until repayment) and the difference
will be unsubsidized (interest is charged from the time of disbursement until
it is paid in full). The government will advise as to how much each category
a student will be eligible for. A graduate student may borrow up to $138,500.
The graduate debt limit includes any Stafford Loans received for undergraduate
study. These loans have a six-month grace period before repayment begins.
Applications are available in Coastal's
Office of Financial Aid, Scholarships and Veteran Affairs. To determine if
you are eligible you must complete:
* Free Application for Federal Student
Aid (FAFSA)
* Application and Master Promissory
Note for Federal Stafford Loans
* Entrance Loan Counseling
South Carolina Teachers Loan
The South Carolina Teachers Loan
Program was established by the State of South Carolina through the Education
Improvement Act of 1984 to attract talented and qualified students to the
teaching profession. This loan is cancelled by teaching in South Carolina
public schools in an area of critical need.
The loan is cancelled at the rate
of 20 percent for each full year of teaching in a critical subject or a critical
geographic area within South Carolina. If you teach in both a critical subject
and geographic area, your loan will be cancelled at the rate of 33 1/3 percent
for each year of full-time teaching. The subject areas deemed critical at
the time you apply will be honored when you begin teaching; critical geographic
areas must be deemed critical at the time of your employment. If you decide
not to teach, the interest rate on the loan is a variable rate, not to exceed
10.25 percent.
Graduate students may borrow up
to $5,000 per year. This loan has a June 1 deadline and the funds are limited.
To determine if you are eligible
you must complete:
* South Carolina Teacher Loan Application
Work Opportunities
There are two student employment
programs at Coastal Carolina. They are the Federal Work Study Program (FWSP)
and the Institutional Employment Program (IEP).
Federal Work Study Program (FWSP)
The Federal Work Study program
is a federal student aid program that provides part-time jobs on campus for
eligible students. Students may work up to 20 hours a week when classes are
in session and up to 37.5 hours with the Office of Financial Aid's approval
during times when classes are not in session up to an authorized amount of
wages. Approximately 150 students are approved for work each semester. Students
should seek placement in available jobs through the Career Services Office
in the Prince Building.
To determine if you are eligible
you must complete:
* Free Application for Federal Student
Aid (FAFSA)
Institutional Employment Program
(IEP)
The Institutional Employment Program
is a Coastal Carolina program that provides part-time jobs on campus for students
who may or may not have financial need. There is no application for this program.
Students should seek placement in available jobs through the Career Services
Office in the Prince Building.
Satisfactory Academic Progress
Institutions participating in Title
IV federal financial aid programs are required by the United States Department
of Education to establish institutional policies which define satisfactory
academic progress. All students who receive federal financial aid at Coastal
Carolina University are required to maintain satisfactory progress toward
completion of their programs of study.
A student is considered to be making
satisfactory academic progress if the student satisfies all of the following:
- is admitted and enrolled
as a degree-seeking student;
- meets the University standards
for continued enrollment as specified in the Academic Standing section of
the Catalog. A waiver granted by the Petitions Committee for Suspensions
for continued enrollment does not constitute evidence of satisfactory progress
for financial aid;
- completes requirements
for a degree within a reasonable length of time. The total number of hours
attempted at any post secondary institution may not exceed the equivalent
of 60 hours.
- earns no fewer than 75%
of credit hours attempted per academic year (includes Fall, Spring, and
Summer terms) based on the enrollment status determined at the end of the
100 percent refund period each semester.
- achieves a cumulative grade
point average of 2.0. If the GPA drops below the required 2.0, the student's
eligibility for continued payment of federal financial aid is subject to
review.
Transfer students will be considered
to be making satisfactory academic progress for financial aid at the time
of enrollment unless the total number of hours attempted at all graduate schools
exceeds the equivalent of 60 hours.
If a student's ability to meet
these standards is affected by extenuating circumstances, he/she may appeal
this determination. Information concerning the appeals process is available
in the Office of Financial Aid.
Refunds/Repayments
Students are academically and financially
responsible for their course registration and must terminate enrollment in
classes which they do not intend to complete. To drop a course, the student
must complete a Registration form available from their adviser. To completely
withdraw, the student must complete a University Semester Withdrawal form
available from the Office of the Registrar. Refund refers to the amount of
money used to pay institutional charges that the institution must return to
the student and/or to the financial aid programs after the student has withdrawn
or dropped courses. Repayment refers to the amount of any cash disbursement
made to the student that the student must repay to the school after the student
has withdrawn or dropped courses. For students who receive Title IV Federal
funds, a copy of the Return of Title IV Funds Policy worksheet is available
in either the Office of Financial Aid or the Bursar's Office. The student
should refer to the Fees and Expenses section of this catalog for specific
refund schedules.
Policy for Withdrawal Refunds
Students who withdraw from the
institution will be given a refund on the basis of either 1) University refund
calculation (students who do not receive Title IV Federal Financial Aid),
or 2) University refund calculation and Return of Title IV Funds Policy (students
who receive Title IV Federal Financial Aid). Both refund calculations conform
to federal regulations set forth by the Higher Education Act of 1965, as amended
by the Higher Education Amendments of 1998 (Public Law 105-244 approved on
November 1, 1999).
The Return of Title IV Federal
Funds Policy applies only to students at the University who are recipients
of Title IV Federal Financial Aid. A copy of the Return of Title IV Funds
Policy worksheet is available in either the Office of Financial Aid or the
Bursar's Office. The University policy applies to all other students who withdraw
from the institution.
The refund schedules are published
in the Master Schedule of Classes for each semester. Any financial aid for
which the student was eligible prior to withdrawal, but which has not been
disbursed, will be cancelled and returned to the source.
Distribution of Refunds/Return
of Funds
If a student receives Title IV
(federal) funds from more than one source, the University will distribute
the refund based on the following mandated priorities:
1) Unsubsidized FFEL/Direct Stafford
Loan
2) Subsidized FFEL/Direct Stafford
Loan
3) Perkins Loan
4) Other Title IV programs
Repayments for Withdrawals
Repayment refers to the amount
of any cash disbursement made to the student that the student must repay to
the school after the student has withdrawn. Any student who owes a repayment
will be billed by Coastal Carolina University's Bursar's Office, and have
a hold placed on the academic record which prohibits graduating, obtaining
a transcript, or registering for classes. The student is also prohibited from
receipt of any further disbursement of Title IV aid at any institution.
SCHOLARSHIPS
Coastal Carolina University offers
a limited number of scholarships which are awarded to eligible students who
are accepted to the University. To apply or be considered for scholarships
as a new or continuing student you must be admitted to Coastal Carolina University
and submit the completed Application for Graduate Scholarships, if required,
by March 1. As there are a limited number of awards available, not all students
who meet the minimum criteria will be awarded a scholarship.
The total of all scholarships and
financial aid awards cannot exceed the cost of attendance as determined by
the Office of Financial Aid, Scholarships and Veteran Affairs. Scholarship
award amounts may vary each year dependent on donor contribution. The awarding
of all scholarships is dependent upon available funding.
For more information, contact:
Scholarship Coordinator
Office of Financial Aid, Scholarships and Veteran Affairs
Coastal Carolina University
P. O. Box 261954 Conway, SC 29528-6054
Telephone: (843) 349-2308 1-800-277-7000, ext. 2308
E-mail: scholar@coastal.edu
www.coastal.edu
GRADUATE SCHOLARSHIPS
The Chicora Rotary Graduate Scholarship (award based on funding)
R. Grant and Elizabeth Singleton Graduate Scholarship (award
based on funding)
The Eric Schuck-Kolloen Fund for Advanced Studies (award based
on funding)
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