general questions

Q: What is federal student aid?
A: Federal student aid is financial assistance through the U.S. Department of Educations that is available for students enrolled in an eligible program as a regular student at a school participating in federal student aid programs.  Federal student aid covers school expenses such as tuition, fees, room and board, books, supplies, and transportation.

Q: What kinds of federal aid might I receive?
A: There are three types of federal aid; Grants, Work Study, and Loans

Q: When will I receive my financial aid award letter?
A: Award letters will be available beginning March 1 for students who have been accepted for admission and have the precessed results of their FAFSA  sent to Carroll College.

Q: Can I use part of my financial aid to pay the enrollment deposit?
A: Enrollment deposits may not be paid using financial aid resources.

Q: If I do not finish my degree until my 5th academic year, how may this affect my financial aid?
A: Full-time 5th year student are still eligible for all Carroll College institutional aid, federal grants, and work study.  Federal loans are capped at $23,000 for dependent students and $46,000 for independent students.  Once a student has reached their federal loan limit, they are no longer eligible for federal loans.

Q: If I drop a class during the semester, how will this affect my financial aid?
A: As long as a student is attending 12 or more credits there is no change to the financial aid package.  If a student drops to 10-11 credits, their Pell grant will be prorated to %75.  Students dropping to 6-9 credits will no longer be eligible for Carroll aid and their merit scholarship and Pell grant will be prorated.  Students falling below 6 credits are no longer eligible for Federal or Carroll aid.  Students dropping classes after the add/drop period will remain packaged with their original number of credits.

Q: If I have credit on my student account, will I receive a refund?
A: Students who receive loans, grants, or scholarships that are greater than the cost of tuition, fees, and room and board automatically receive a refund after the funds are applied and a credit balance over $100 results.  Students who choose to have a credit balance remain on their account must sign a request form in the business office.

Q: Do students receive a late fee for delinquent student accounts?
A: Payments are due on the first day of each month and delinquent if not received by the 20th day.  Delinquent accounts are subject to a $25 late fee.