Financial Aid Policies

The Financial Aid Office is responsible for ascertaining that all policies and procedures comply with institutional, state, and federal regulations. There are many restrictions on eligibility for most financial aid programs offered at CIAT. Students are expected to be aware of their rights, responsibilities, and the restrictions of the aid programs in which they participate. Several publications that describe students’ rights and responsibilities with regard to aid programs are available in the Financial Aid Office.

Satisfactory Academic Progress (SAP) Policy for Students Receiving U.S. Federal Financial Aid

The academic requirements that students who receive U.S. federal assistance must meet to maintain their eligibility have changed due to new guidelines adopted by the Federal Department of Education effective July 1, 2011. Students must now meet new standards of Satisfactory Academic Progress (SAP).

These SAP standards may be different from, and at times, more stringent than, the satisfactory academic progress policies adopted by CIAT’s academic programs. For CIAT’s SAP policy see Satisfactory Academic Progress Policy. The federal guidelines require that CIAT’s Financial Aid Office conduct reviews of student progress at the end of each term to determine if students are making satisfactory progress towards earning their degree and therefore remain eligible for federal financial aid.

Students need to make satisfactory academic progress in order to continue receiving federal student aid. In other words, students have to make good enough grades, and complete enough classes (credits, hours, etc.), to keep moving toward successfully completing the degree or certificate in a time period that’s acceptable to CIAT.

Course Load & Financial Aid Programs

Full-time
Undergraduate students: 12 units of required coursework toward degree completion

3/4- time
Undergraduate students: 9 units of required coursework toward degree completion

Half-time
Undergraduate students: 6 units of required coursework toward degree completion

Federal Programs
To be eligible for the Federal Direct Loan Programs, a student must be enrolled at least half time in units related to the identified program of study.

Students enrolled less than half time are not eligible for the Federal Direct Loan programs.

Student Loan Fund Release Policy (Disbursement)

Annual Financial Aid awards will be divided by the number of terms for which the student is enrolled and disbursed by term as long as the student meets the eligibility requirements for the aid.

If all paperwork, Stafford entrance test, verification and loan funds are received, student loan funds may post to the student’s school account within the first two weeks of the first day of the term. However, Department of Education rules allow fourteen (14) days from the first day of the term to return excess payments to students. Any questions regarding delay in financial aid refund after aid has disbursed to the student’s statement should be directed to the Financial Aid Office.

Master Promissory Note

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). You must sign your MPN before receiving any federal loan funds.

Loan Repayment

If a student receives a loan to pay for the educational program, the student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund to the lender.