Financial Aid Award Changes

There are situations where a student’s financial aid award may need to be recalculated after the original award has been determined. The following are examples of when a change may be needed:

  • Changes to a student’s eligibility due to updates to the student’s FAFSA
  • The student receives additional financial aid from external sources
  • The student’s anticipated enrollment status changes
  • The student withdraws from the College prior to the end of the semester, requiring the College to perform a federal recalculation of the student’s financial aid
  • The student fails to maintain satisfactory academic progress as defined by the College

Enrollment Status

A student’s financial aid is initially based on full time status (12 or more credits per semester). Enrollment is verified after the add / drop period each semester and changes are made to the student’s financial aid if their enrollment is less than full time.

Most forms of financial aid, including the State of Maine Grant, Federal Work Study, Federal SEOG, Federal Stafford Loans and Federal PLUS Loans, require the student to be enrolled on at least a half time (6 credits or more) basis each semester. The Federal Pell Grant is available in limited circumstances to students who are enrolled less than half time.

Externally-Funded Assistance

Students who expect to receive funding from external sources, such as private scholarships or sponsorships, should contact the Financial Aid Office to report the amount of support expected. Federal student aid regulations require the College to consider all types of assistance when determining the student’s financial aid awards.  In cases where adjustments become necessary after the College becomes aware of any external assistance, the College will always try to first adjust a student’s loan or Federal Work Study funding before adjusting any grant or scholarship funding.

Special Circumstances

Changes sometimes occur during the academic year that can affect the family’s ability to contribute financially toward the student’s education. A review of the family’s special circumstances can be requested by contacting the Financial Aid Office. You must document the circumstances you feel deserve consideration. Examples of these conditions include: medical bills, unemployment, divorce/separation, death of a spouse or parent, disability of family members, an unplanned change in employment earnings, loss of income or benefits.

Fraud

Throughout the financial aid application process, students and parents may be required to submit documents to the Financial Aid Office in support of the student’s FAFSA. Most of the documents will require the student’s signature, and in some cases will also require the signature of a parent or spouse. Please keep in mind that signing someone else’s name is considered fraud. Any student whose documents are suspected of containing fraudulent signatures will be required to submit new materials with a notarized signature. The Financial Aid Office also reserves the right to discontinue the processing of any application where fraud is suspected. In cases where fraud is suspected, the U.S. Department of Education’s Office of the Inspector General will also be notified. Any questions regarding this information should be referred to the Director of Financial Aid.