1. finance
2. grants, scholarships and financial aid
3. financial aid

2014-2015
INFORMATION
MANUAL
Rev: March 4, 2014
CONTENTS
SAMPLE STUDENT STATUS SCREEN
2
FINANCIAL AID AWARDS
General Eligibility Criteria
Refunds
Revising Your Application
Changes to Your Award Package
Repeated Coursework
Quality Assurance and Verification
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3
4
4
4
4
4
GENERAL INFORMATION
Cost of Attendance at Central Michigan University
Satisfactory Academic Progress
Appeal Process
Continuing at CMU After Aid is Denied
Study Abroad
Confidentiality and Release of Information
Consortium Agreements
Enrollment Status
Important Information Regarding:
Withdrawing From or Never Attending Classes
Failing Grades (E and NC)
Mail
Student Email Account Policy
Financial Aid Renewal
Unusual Financial Circumstances
CMU Portal (Central Link)
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6
6
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8
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FINANCIAL AID PROGRAMS
Grants
Scholarships
Employment
Federal Loans
Special Instructions for the Direct Student Loan
Special Instructions for Graduate PLUS Loans
Special Instructions for the Direct Parent Loan
Special Instructions for the Perkins Loan
Private/Alternative Loans
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9
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13
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14
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RIGHTS AND RESPONSIBILITIES
18
GLOSSARY OF FINANCIAL AID TERMS
19
WHERE TO FIND US
Meet the Staff
23
23
IMPORTANT CONTACTS
24
2
FINANCIAL AID AWARDS
We are pleased to provide you with your Award Notice. Your award package is based on a combination of available funds and your
financial need. The financial aid that you have been offered can be accessed on Central Link (CMU Portal) at
https://www.cmich.edu/centrallink/_layouts/FinancialAid/. You may reject or reduce some types of suggested self-help aid (loans and
work study). You must also notify the OSFA of any additional aid you will receive. Award adjustments may be done online through
Central Link or in writing.
GENERAL ELIGIBILITY CRITERIA
All financial aid awards are contingent on the following general eligibility criteria:
1.
Availability of funds from federal, state, and institutional sources.
2.
Accuracy of information provided on the Free Application for Federal Student Aid (FAFSA). (See QA and Verification
policy on page 4)
3.
Adjustments made to your award if we receive information that affects your eligibility. If you receive aid in addition to that
listed on your award notice, your aid package may be adjusted. Our aid adjustment policy states that we reserve the right to
adjust or cancel your award at any time, as a result of information received that affects your eligibility.
4.
Full-time enrollment in CMU on-campus courses. If you enroll less than full-time, your aid may be reduced or canceled.
Your enrollment status for financial aid purposes is determined based on your enrollment as of the 9th day of classes each
semester. (See Enrollment on page 7 and Repeated Coursework policies on page 4)
5.
Enrollment in an eligible degree or certificate-granting program of study for the necessary number of hours; guest students
are not eligible for aid from CMU.
6.
Compliance with satisfactory progress (SAP) standards. (See SAP policy on page 6)
7.
Compliance with our request for additional documentation to support your application.
8.
You are a U.S. citizen or eligible non-citizen, have signed all certification statements, and are not in
default on a federal loan or owe a refund or repayment on any federal or state program.
If you have been paid financial aid that is later reduced or canceled for any reason, you may be required to return a
portion or all of that payment to CMU.
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REFUNDS
If you receive financial aid in excess of your university charges, the balance will be refunded to you to use toward other educationrelated expenses, e.g., off-campus room and board, transportation, personal/miscellaneous costs, etc. Refund payment options are by
direct deposit or loaded onto your CMU Money Card. If you apply for financial aid after the priority deadline of March 1, you will be
responsible for paying for your fall education and living expenses until your aid is processed and a refund is available. To learn how
to have your refund directly deposited into your bank account, go to
https://www.cmich.edu/fas/fsr/student_acct_university_billing/SASUBRefunds/Pages/default.aspx click on “Direct Deposit”. You
can monitor your account status on line at https://centrallink.cmich.edu/account/Pages/Finances.aspx
REVISING YOUR APPLICATION
If estimated income information was used when filing your FAFSA and you have now filed your 2013 IRS 1040, you should update
your FAFSA online using the IRS data retrieval tool. Corrections to your Free Application for Federal Student Aid (FAFSA) should
be made online at: www.fafsa. gov by clicking on “Make Corrections”.
CHANGES TO YOUR PACKAGE
If you receive other resources (e.g., Resident Assistant, departmental scholarship, local/outside/UAW scholarships, employee or
dependent tuition benefit, Dept. of Military Affairs Tuition Benefit, etc.) that were not included in your most recent award notice, a
reduction in your financial aid package may be required. You will receive a new award notice if a revision is necessary. If you have
already received payments from such awards, federal regulations require that you repay the amount of financial aid for which you
were over awarded. The award notice with the most recent date supersedes all previous award notices.
REPEATED COURSEWORK
Federal regulations define a full-time student as an enrolled student who is carrying a full-time academic workload as determined by
the institution. The student's workload may include any combination of courses, work, research, or special studies in which the student
is enrolled, including repeating any coursework previously taken in the program, but not including more than one repetition of a
previously passed course.
QUALITY ASSURANCE AND VERIFICATION
CMU participates in the U.S. Department of Education’s Quality Assurance Program. The goals of this program include improving
equity and fairness in awarding public dollars to needy students and assessing the quality and accuracy of the financial aid process.
Participation in the Quality Assurance Program assists the Office of Scholarships and Financial Aid in evaluating and improving our
service to students by identifying the types of errors made by students and their families as they complete the financial aid application
process. We will also use this process to evaluate our internal procedures. The evaluation will include verification of CMU selected
federal financial aid applications.
Verification is a process of review that determines the accuracy of the information submitted by the student and family on the FAFSA
and that resolves conflicting data resulting from changes made by the student and family on the Student Aid Report. If you are
selected for verification by CMU, you will receive a request for documentation from us; please wait until you receive our request
before mailing your documentation. We may request parent and/or student federal tax transcripts, W-2 forms and other documents
as required for the student’s records.
To retain your eligibility for federal financial aid, you are required to comply with our request for documentation. If you have been
paid financial aid that is later canceled as a result of the CMU verification process, you must return the payment.
4
GENERAL INFORMATION
COST OF ATTENDING CENTRAL MICHIGAN UNIVERSITY
Your award notice is based on the cost of attendance (COA) at CMU. Financial need is determined by subtracting the Expected
Family Contribution (EFC), as calculated by the federal processor, from the COA (COA - EFC = financial need). Please note that the
COA is not the amount of your university bill, as the COA includes estimates for transportation, personal/miscellaneous expenses, and
other costs you may incur during the academic year. Tuition, books and supplies are an average cost for fall and spring. Room and
board is an estimated cost for either on- or off-campus living arrangements. Your actual cost may vary.
The following table illustrates the ESTIMATED cost of attendance for new freshmen, transfer and graduate students for the 20142015 academic year. These examples are based on 15 hours of enrollment for each semester (fall and spring) for an undergraduate
student, and 9 hours of enrollment for each semester (fall and spring) for a graduate student.
ESTIMATED COST OF ATTENDANCE:
Out-state
Dependent
In-state
Independent
Out-state
Independent
$11,550
1,000
8,780
$21,330
$23,670
1,000
8,780
$33,450
$11,550
1,000
8,780
$21,330
$23,670
1,000
8,780
$33,450
670
500
______
ESTIMATED ANNUAL COST $22,500
1,415
750
_______
$35,615
670
500
_______
$22,500
1,415
750
_______
$35,615
Graduate
Masters
In-state
Masters
Out-state
Doctoral
In-State
Doctoral
Out-State
Tuition
Books/Supplies
Room/Board
$ 9,126
1,200
8.450
$13,788
1,200
8,900
$10,494
1,200
8,450
$15,300
2,000
8,900
Estimated Direct Cost
$18,776
$23,888
$20,144
$26,200
1,200
804
1,200
750
1,200
750
1,200
750
_______
ESTIMATED ANNUAL COST $20,780
_______
$25,838
______
$22,094
______
$28,150
Undergraduate
Tuition
Books/Supplies
Room/Board
Estimated Direct Cost
In-state
Dependent
Miscellaneous:
Personal/Loan Fees
Transportation
Miscellaneous:
Personal/Loan Fees
Transportation
Childcare expenses may be added on an individual basis depending on circumstances. Students must submit a Cost of Attendance
Increase Special Circumstance Form, documentation of childcare expenses, class schedule, and a letter requesting increased loan
eligibility to the OSFA. For students who are enrolled in programs of study that have increased tuition costs (e.g., Physician
Assistance, Doctorate in Physical Therapy, Audiology and College of Medicine), budgets will be reviewed and adjusted with
increased loan eligibility.
SATISFACTORY ACADEMIC PROGRESS
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Federal regulations (HEA Sec. 484(c)) require that Central Michigan University monitor the satisfactory progress of all students
regardless if they have received financial aid in previous semesters. These financial aid requirements are separate from students’
academic requirements. To maintain eligibility for federal student aid, as well as most state and institutional student aid programs,
there are three distinct criteria that must be monitored and met.
1. Quantitative standard: Students must complete 67% of all CMU credits attempted each semester of enrollment which
includes the summer semester. Attempted hours are based on the number of credits for which the student is registered at the
conclusion of the Registrar’s posted “Deadline for Dropping a Class with a Full Cancellation of Tuition.”
2. Qualitative standard: Students must maintain a 2.00 cumulative GPA as an undergraduate student and a 3.00 cumulative
GPA as a graduate student..
3. Maximum time frame standard: The number of attempted credits in which a student is expected to finish a program cannot
exceed 150% of the published length of the program. Total credit hour limits apply whether or not the student has actually
received financial aid for the entire time at CMU. Transfer credits from previous schools count toward credit hour limits.
Undergraduate students cannot receive financial aid after attempting 186 credit hours. The 186-credit-hour limit for completion
of a baccalaureate degree is intended to be long enough to allow for changes in a major, loss of credit due to transfer,
withdrawn coursework, minors, double majors, etc.; therefore, no extensions of the maximum time frame will be granted for the
above mentioned reasons.
Graduate students working on second baccalaureate degree or post-baccalaureate students working on teacher certification: Students
pursuing a second undergraduate degree or post-baccalaureate students working on teacher certification are limited to 93 credit hours
of work between the receipt of the first degree and the completion of the second. Students may not receive financial aid beyond 6
semesters (or the part-time equivalent of 6 semesters) of enrollment in the second undergraduate degree program or teacher
certification program.
Satisfactory Progress review at the end of each semester (fall, spring, and summer): Satisfactory Progress is measured at the end
of each semester to determine a student’s financial aid eligibility for the following semester.
Progress status: If for any reason the OSFA fails to provide an intended notification, this does not relieve the student from the
obligation of continuing to maintain satisfactory progress or from any other requirements of the financial aid program.
Consequences of unsatisfactory progress:
Students who fail to complete 67 percent of their attempted courses in one semester, and/or have a cumulative GPA that falls
below a 2.00 for undergrad students and 3.00 for graduate level students will be placed in a warning status. Students are
eligible for financial aid while on warning. However, students who fail to bring their completion rate to 67% in the next semester of
enrollment or to bring their cumulative GPA within the required range of a 2.00 for undergraduate students and 3.00 for graduate level
students will result in financial aid suspension beginning with the next semester of enrollment. A student will remain on financial aid
suspension and be denied federal and most state and institutional aid until he/she completes 67% of attempted courses within one
semester at CMU, and maintains the required cumulative GPA for his/her grade level. Only credit hours completed are counted as
credits earned. Grades of NC (no credit), I (Incomplete), W (withdrawal), X (audit), and Z (deferred) are not counted as earned
credit. For example, a student who attended CMU in the fall and attempts 12 credits but withdraws from 6 credits fall semester will
have completed 6 of 12 credits for a completion rate of 50%. This student will be warned, but still eligible to receive financial aid for
his/her next semester of enrollment. A second semester of less than 67% completion and/or a cumulative GPA below the required
standards will result in the student being denied further aid until he or she completes 67% of attempted courses, as well as
maintaining the required cumulative GPA within a CMU semester.
Students who reach their time limit without completing their degree will be denied further federal and most state and
institutional financial aid as a student at that level. As students near their credit limits they will be placed in a warning status.
For example, if as an undergraduate you reach 150 attempted credits you will be placed in a warning status. Once you reach the 186attempted-credit limit, you will be denied further aid until the degree is conferred. You then would regain eligibility for a second
undergraduate or a graduate degree. If you are attempting a master's degree and reach the eligibility limit, you would be denied
further aid until the master's degree is conferred, at which time you would regain eligibility for a second master's, doctoral, or
professional degree.
Appeal process
Students who have faced extraordinary circumstances may appeal a financial aid suspension but, students are cautioned that
appeals are not routinely approved. Circumstances not considered to be mitigating are: work conflicts, lack of transportation,
change in major or pursuit of a second major, or a minor illness of a student or family member.
All appeals must
1.
2.
be submitted using the CMU Financial Aid Appeal form available on the CMU OSFA website
include the required documentation.
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3.
be submitted to the Office of Scholarships and Financial Aid
In most cases a decision will be made within 15 business days of receiving an appeal letter with the appropriate
documentation. Students are notified of appeal decisions through their CMU e-mail account.
Continuing at CMU after aid is denied: Students denied financial aid generally may continue attending Central Michigan University
using private aid sources such as alternative student loans (https://www.cmich.edu/ess/OSFA/Pages/ALT-LOAN.aspx), or by funding
their education themselves. Please note that some alternative loans are NOT available to students while on Financial Aid Suspension.
College of Medicine: Satisfactory Academic Progress policy for students enrolled in the College of Medicine can be found in the
College of Medicine Student Handbook.
STUDY ABROAD
Students must be in a CMU approved international studies program to be considered for Federal, State and institutional financial aid.
If you are planning to use federal financial aid funds to help cover the cost of your study abroad expenses, you must complete
a FAFSA or renewal FAFSA. To be considered for the maximum Federal Direct Student Loan (subsidized or unsubsidized), PLUS
Loan or alternative student loan, you must obtain an Estimated Study Abroad Expense form from the Office of International Affairs
and submit it to the OSFA prior to the term you plan on studying off campus. It is advised that you schedule an appointment with
a Financial Aid advisor to discuss your financial eligibility.
CONFIDENTIALITY AND RELEASE OF INFORMATION
The Family Educational Rights and Privacy Act of 1974 (FERPA) provides you with access to your educational records and limits the
release of this information without your written consent. The OSFA will release information from your file only to members of the
university community or its agents or public aid agencies who request pertinent aid application information. The OSFA reserves the
right to request identification before releasing any information from your financial aid file.
CONSORTIUM AGREEMENTS
Students must be enrolled on campus to receive financial aid, except under special circumstances. Students whose program of study
requires a course(s) not available at CMU may apply for a Consortium Agreement to receive financial aid while enrolled at least halftime (6 hours undergraduate; 5 hours graduate) at another institution.
ENROLLMENT STATUS
Students must enroll at CMU each semester to receive financial aid funds for that semester. Minimum enrollment requirements vary
by financial aid program. Please contact the OSFA if you plan to enroll for less than full-time status.
Full-time
Three-quarter time
Half-time
Less-than-half-time
Undergraduate
12 hours
9-11 hours
6-8 hours
1-5 hours
Graduate
9 hours
5-8 hours
1-4 hours
Graduating Senior Proration: If you are a graduating senior (Undergraduate) who is attending only one semester (you will graduate
at the end of the Fall semester), federal law requires CMU OSFA to prorate your loan based on the number of credits for which you
are enrolled. The proration is based on the annual loan limit, multiplied by the number of units needed for graduation divided by 24.
Internship Enrollment: Students enrolled in an internship must be enrolled at least half time at CMU to be eligible for Federal
student loan funds.
IMPORTANT INFORMATION REGARDING:
WITHDRAWING FROM OR NEVER ATTENDING CLASSES
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If you are a financial aid recipient and you drop some of your classes during the drop/add period (or the instructor(s) indicates you
never attended some of your classes), you may lose some or all of your financial aid eligibility. Before withdrawing, we suggest you
speak with a financial aid counselor. Your enrollment status for financial aid purposes is determined as of the 9th day of classes each
semester (file close).
If you are a financial aid recipient and you drop all of your classes prior to start of the semester (or the instructor(s) indicates you
never attended), you are no longer eligible for financial aid for that semester. All scholarship, grant and loan payments (and refunds of
financial aid) must be returned to Central Michigan University.
If you are a federal financial aid recipient and you completely withdraw from all your classes after the beginning of the semester, the
law requires that the amount of federal aid earned up to that point is determined by a specific formula. If you receive more federal aid
than you have earned, the excess aid must be returned. The amount of federal aid you have earned is determined on a pro-rata basis.
That is, if you completed 30% of the semester, you earn 30% of the federal aid you received. Once you have completed more than
60% of the semester, you earn all of your federal aid. If you are a recipient of University funds and you completely withdraw from all
of your classes after the beginning of the semester, your funds will be reduced by the percentage of tuition refunded. Please see
additional information at: https://www.cmich.edu/fas/fsr/student_acct_university_billing/Pages/Withdrawal-Information.aspx
In accordance with federal and state regulations, the financial aid office must also monitor your academic progress at the end of each
semester. If you withdraw from any of your classes, this may cause you to be in unsatisfactory academic progress for financial aid
purposes. Students not making satisfactory progress may lose financial aid eligibility for future semesters. Reinstatement of financial
aid may be considered by filing a Satisfactory Progress Appeal form.
FAILING GRADES (E AND NC)
Instructors of any course in which a failing grade is assigned are required to provide the last date you attended the class or that you
never attended the class. If the instructor verifies that the final exam was taken, no adjustment will be made to your financial aid for
that semester. If the instructor indicates that you never attended the class or stopped attending before the course ended, the OSFA will
review your enrollment status and your eligibility for financial aid may be reduced if you fall below full-time, three-quarter time, halftime or less-than-half-time status.
MAIL: If you write to us concerning your financial aid or submit documents to the OSFA, be sure to print your name, current
address, telephone number, CMU global e-mail address and social security number on each document, as well as provide
requested signatures on all letters, tax forms, etc.
STUDENT E-MAIL ACCOUNT POLICY: All students are assigned a CMU e-mail account and are expected to read their e-mail
daily to keep informed of current University events and announcements, notice of e-bills and eFinaid award letters, important deadline
dates, etc.
FINANCIAL AID RENEWAL: You must apply each year to be considered for all federal, state and institutional financial aid. The
FAFSA on the Web Worksheet for each academic year will be available in January in the Bovee UC Student Service Court. If you
have applied for financial aid during the current academic year, you will receive an electronic notification from the federal processor
to use when completing a FAFSA on the Web application. The priority deadline date by which the Renewal FAFSA must be received
by the federal processor is March 1.
UNUSUAL FINANCIAL CIRCUMSTANCES: Unusual circumstances, such as unusual medical or dental expenses not covered by
insurance, a family member who recently became unemployed, or changes in income or assets, may affect your eligibility for financial
aid. You must submit a CMU Special Circumstances Appeal Application, attaching required documentation, to the OSFA. Special
circumstance requests require careful review and additional processing time. This form will be available April 1 from the OSFA
(Bovee UC Student Service Court). January 31, 2015 is the deadline for these requests to be submitted to the OSFA.
CENTRAL LINK: Central Link at https://centrallink.cmich.edu/Pages/default.aspx is an internal portal that allows you to access the
type of information that relates directly to your needs. The single sign-on gives you access to registration, drop and add, grades,
online billing and payment, direct deposit, student webmail, etc.
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FINANCIAL AID PROGRAMS
GRANTS
Federal Pell Grant: Students apply for a Federal Pell Grant by filing a Free Application for Federal Student Aid (FAFSA) or a
Renewal FAFSA. Eligibility for a Federal Pell Grant is determined by a need analysis formula prescribed by Congress. Application
of the formula to family income and asset data produces an expected family contribution (EFC). You are eligible for a Federal Pell
Grant if you: are an undergraduate, have not received a baccalaureate degree, have a qualifying EFC as determined by the U.S.
Department of Education (ED) and meet the general eligibility criteria listed on page 3. Federal Pell Grant awards are based on fulltime attendance per academic year. Your enrollment status is determined as of the 9th day of classes each semester (known as file
close). Pell Grants will be adjusted after file close based on your actual enrollment (e.g., full-time, three-quarter time; half-time, less
than half-time). The data from your Renewal FAFSA or FAFSA must show that you are eligible to receive a Pell Grant and must be
received by the OSFA prior to the last day of enrollment for each semester or within 60 days after the end of the semester if you were
selected for verification. Pell Grants paid after the semester is over will be based on number of hours earned. The period during
which a student may receive Federal Pell Grants shall not exceed the equivalence of 12 semesters of full-time attendance.
TEACH Grant: The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program awards up to $4000
per academic year to a full-time undergraduate or graduate student who annually completes the FAFSA, is a U.S. citizen or eligible
non-citizen, maintains a 3.25 cumulative grade point average, has been accepted into the Teacher Education program, is majoring in a
high-need subject area (bilingual education, foreign language, mathematics, reading specialist, science, special education, reading and
literacy, etc.) and plans to teach in a Title I elementary (special education major only) or secondary school for at least four years.
FAILURE TO COMPLETE THE FOUR YEAR TEACHING OBLIGATION WILL CAUSE THE TEACH GRANT TO BE
PERMANENTLY CONVERTED TO A DIRECT UNSUBSIDIZED LOAN WITH ACCRUED INTEREST FROM DATE OF
FIRST DIBURSEMENT.
Federal Supplemental Educational Opportunity Grant (FSEOG): Undergraduate students who apply for financial aid will be
considered for FSEOG if they qualify on a need basis, are enrolled full-time, are eligible for a Federal Pell Grant and have applied for
financial aid by CMU’s priority deadline date. Students are eligible for campus-based grants (including the FSEOG) for a maximum
of eight semesters at CMU.
CMU Grant: Available to full-time, undergraduate students on a need basis, as determined by CMU. Students are eligible for
campus-based grants (including the CMU grant) for a maximum of eight semesters.
Bureau of Indian Affairs Grant (BIA): Grants are available from certain tribes to assist students with their educational expenses at
postsecondary institutions. Grants are need-based, and the tribe determines award amounts. Students must complete a FAFSA and a
tribal application.
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SCHOLARSHIPS
CMU Scholarship Policy:
1.
2.
3.
Recipients of CMU merit and talent-based scholarships of a dollar value equal to or greater than $2,500 are required to reside
on campus during their freshman and sophomore years unless they qualify as commuting students or for another exception to
the Campus Residency Policy: https://www.cmich.edu/ess/ResLife/policies/Pages/Residence_Hall_Agreement_.aspx
Students may receive two renewable merit scholarships. Students who are selected for more than two renewable scholarships
may choose the awards of highest value.
CMU will limit institutional funds (e.g., need-based grants, merit scholarships, departmental scholarships, employee tuition waivers,
Indian Tuition Grant Waiver, etc.) to the annual cost of attendance.
Non-CMU Scholarship disbursement policy:
1.
2.
3.
4.
5.
Estimated scholarships, e.g., outside agency, will not reduce the amount of tuition payable by posted deadlines.
Donors may specify the semester(s) in which the scholarship is paid.
If a student wants the scholarship distributed in a way that differs from what the donor requests, the student will be asked to get an
authorization letter from the donor.
If the donor letter does not specify a distribution schedule, CMU will disburse scholarships of less than $500 in the fall semester.
Scholarships $500 or larger will be disbursed equally between the fall and spring semesters.
If the scholarship has been scheduled to disburse fall/spring and the donor has not given instructions, the student may request the
entire award be disbursed in the fall semester. However, the student is then cautioned that he or she may be short of funds for the
spring semester.
CMU Athletic Scholarships: The OSFA disburses all athletic aid to student athletes. The athletic department awards athletic aid
according to NCAA guidelines. Athletic aid is considered part of a student’s financial aid package.
CMU Bulletin Scholarships: Privately funded endowments provide supplemental funding to students based on need, academic
focus, career aspirations or other criteria. Scholarships are generally awarded in the spring and summer for the next academic year.
Most scholarships require the student be a returning undergraduate student, enrolled full-time in a degree-granting program on
campus. Preference may be given to juniors and seniors of high academic standing with a cumulative GPA of 3.0 or higher and
demonstrating financial need. No application is required as recipients will be selected by the OSFA Scholarship Committee based on
scholarship-specific criteria determined by the donor. Academic departments also award CMU Bulletin scholarships. Students with a
signed major should check with the department for information on the application process.
CMU Merit Scholarships Funds for these scholarships are limited. Meeting the eligibility requirement does not guarantee a student
will receive a scholarship. The best way to improve your candidacy is to submit all admission materials as soon as possible.
1. Prestige Scholarship: This scholarship honors high school students who will graduate with a 3.25 cumulative GPA and an
ACT composite score of 27 or higher, and enroll directly at CMU as a full-time, on-campus student. The value of this
scholarship is $6,000 per academic year. The scholarship is renewable for 3 consecutive years or until graduation
requirements are met, whichever comes first, if a 3.25 cumulative GPA and successful completion of 30 new credit hours are
maintained.
2. Excellence Scholarship: This scholarship honors high school students who will graduate with a 3.0 cumulative GPA and an
ACT composite score of 23 or higher, and enroll directly at CMU as a full-time, on-campus student. The value of this
scholarship is $4,500 per academic year and is awarded to new freshmen who meet eligibility requirements. The scholarship
is renewable 3 consecutive years or until graduation requirements are met, whichever comes first, if a 3.25 cumulative GPA
and successful completion of 30 new credit hours are maintained.
3. Success Scholarship. This scholarship honors high school students who have a 3.0 cumulative GPA and an ACT composite
score of 21 or 22, and enroll directly at CMU as a full-time, on-campus student. The value of this award is $3,000 per
academic year and is awarded to new freshmen who meet eligibility requirements. The scholarship is renewable for 3
consecutive years or until graduation requirements are met, whichever comes first, if a 3.25 cumulative GPA and successful
completion of 30 new credit hours are maintained.
4. Community College Honors Scholarship: All new transfer students entering CMU’s main campus directly from a
community college with a minimum cumulative grade point average of 3.5 or higher and 56 transferrable credits are eligible
for a $2,500 scholarship. This award is renewable for one additional year. Award renewal requires 3.25 CMU cumulative
GPA and successful completion of 30 new credit hours. This award cannot be combined with Community College Transfer
Recognition award.
5. Community College Transfer Recognition Award: This scholarship honors new transfer students entering CMU directly
from a community college with a minimum cumulative grade point average of 3.3 or higher and a minimum of 30
10
transferable credits. The value of this scholarship is $1,000 per academic year. This scholarship can be renewed for one
additional year provided the student successfully completes 30 new credit hours at CMU with a 3.25 (or higher) cumulative
GPA.
Centralis Scholarship: Awarded by CMU to incoming freshmen who have demonstrated outstanding academic performance and
extracurricular involvement. All high school students with a grade point average of 3.7 or higher and an ACT composite of 27 or
higher are eligible to compete. Two categories of Centralis Scholarships are awarded with the following values:
Centralis Scholar: scholarships have an annual monetary value of up to 36 credit hours of tuition, course-related fees, room
and board, plus $500 for books and supplies, for up to four academic years.
Centralis Gold Award: scholarships have an annual monetary value of up to 36 credit hours of tuition for the academic
year, for up to four academic years.
Renewal criteria for the Scholar and Gold awards require full-time, continuous enrollment at CMU with a minimum of 30 earned
credit hours per academic year, a 3.25 cumulative GPA or higher, and completion of Centralis protocol requirements. The Centralis
scholarships replace other CMU academic merit awards.
CMU Leader Advancement Scholarship: As part of the Leader Education Development Program, 40 scholarships are awarded
annually to incoming freshmen that have distinguished themselves through a record of leadership and involvement during their high
school years. Recipients are selected by a committee through the analysis of the Leader Profile, a portfolio-like record of activities
completed by the student. Competitors must have a minimum, cumulative high school GPA of 3.00. The value of the scholarship is
$2,000 per academic year for a maximum of four academic years. Scholarships are automatically renewed providing the student
maintains full-time, continuous enrollment at CMU with a 2.75 (or higher) cumulative GPA and completes the required protocol.
CMU Cofer/Multicultural Advancement Scholarship: Cofer scholarships are awarded annually to deserving undergraduate
students who are graduates of a Detroit public high school. Multicultural Advancement Scholarships are awarded to high school
graduates who through past activities or educational aspirations indicate an interest in the advancement of underrepresented groups in
American society. The value of each scholarship is $4,125. The Cofer and Multicultural Advancement scholarships are renewable for
three additional years for recipients who maintain full-time continuous enrollment and a 2.50 (or higher) cumulative GPA.
CMU Multicultural Advancement Award of Distinction: Scholarships are awarded to select high school graduates. The value of
each scholarship is $10,500 per academic year to be used toward the cost of tuition, room and board, and books and supplies. The
scholarship is renewable for three additional consecutive years if a 3.25 cumulative GPA and full-time continuous enrollment are
maintained.
CMU President’s Awards:
1. CMU President’s Award for High School Students: This award honors non-Michigan resident high school seniors who
will graduate with at least a 2.75 (on a 4.0 scale) grade point average and enroll directly as freshmen at CMU as full-time, oncampus students. The value of the award is equal to the difference between in-state and out-of-state tuition for high school
seniors for eight semesters, providing the student maintains non-Michigan residency status and maintains full-time,
continuous enrollment at CMU with a 2.5 cumulative GPA or higher. Participation in the Legacy Program replaces this
award.
2. CMU President’s Award for Transfer Students: This award honors non-Michigan resident transfer students who have
earned 30 or more credit hours with a cumulative grade point average of 2.75 (on a 4.0 scale) and who enroll directly at CMU
as full-time, on-campus students. The value of the award is equal to the difference between in-state and out-of-state tuition
for up to six semesters, providing the student maintains non-Michigan residency status and maintains full-time, continuous
enrollment at CMU with a 2.5 cumulative GPA or higher. Participation in the Legacy Program replaces this award.
Special Talent Scholarships: The awarding departments (e.g., Broadcast and Cinematic Arts, Speech and Dramatic Arts, and Music)
determine awards with varying values. Students must be enrolled full-time and meet departmental criteria for renewal eligibility.
Indian Tuition Waiver: A state resident (minimum 12 months) North American Indian who is an enrolled member of a U.S.
Federally recognized tribe, is not less than 25% quantum blood Indian and is enrolled in a degree-granting program is eligible for free
tuition at CMU. Applications are available from the Michigan Department of Civil Rights (517) 241-7748 or at
http://www.michigan.gov/documents/mdcr/MITWAPPLICATION-CR-602-revised_7-14-10_328137_7.pdf . Blood quantum and
tribal membership will be certified by MDCR; Michigan residency will be determined by the Office of Scholarships and Financial
Aid.
11
EMPLOYMENT
On- and off-campus job opportunities are available to CMU students, regardless of financial need, who are enrolled at least half time
each semester. Students are paid every two weeks based on the number of hours worked. Pay rates are comparable to Michigan
minimum wage guidelines.
Need-based Employment Programs:
The OSFA offers Federal Work Study (FWS) awards to eligible students based on financial need and an on-time application for a
maximum of eight semesters of eligibility. Job opportunities for students receiving a FWS award are posted throughout the academic
year in the Student Employment Office, located in the Bovee University Center, and on their website at:
https://www.cmich.edu/fas/hr/ses/Pages/default.aspx. Students must apply for a job, be hired by a department, and work to receive
Federal Work Study funds. If you are hired you will receive a bi-weekly paycheck based on number of hours worked for the pay
period.
Non-need-based Employment Program:
Central Michigan University funded General Student Assistance (GSA) positions are available to all students on a no-need,
competitive basis. GSA jobs are processed through the Student Employment Office, located in the Bovee University Center, and are
listed on their website at: https://www.cmich.edu/fas/hr/ses/Pages/default.aspx
12
FEDERAL LOANS
Federal Direct Loans: Under the William D. Ford
Federal Direct Loan Program, students borrow money
directly from the federal government without going
through a private lender; students do not complete a
separate loan application. Loan proceeds are
deposited directly into student accounts each semester,
eliminating the need for separate check processing.
Repayment of the loan principal begins six months
after the student is no longer attending school on at
least a half-time basis.

Federal Direct Subsidized Student Loan:
“Subsidized” means the federal government pays
the interest on these loans while the student is in
school and during deferments (postponements of
repayment). Students must show financial need to
receive this type of loan. Subsidized loans are
awarded to undergraduate students only.
Special Instructions for students-before the university pays
Direct Student Loan funds to your account, you must:
1.
Complete entrance loan counseling. Federal regulations
require that you participate in an entrance loan counseling
session if you are a first-time, Federal Direct Student Loan
borrower. The purpose of this counseling is to explain
your rights and responsibilities as a first-time borrower,
emphasize the legal, binding nature of your loan
obligation, and make you aware of the consequences of
default if you fail to repay your loan according to the terms
of the note. Loan counseling may be completed on line at:
https://StudentLoans.gov .
Loan funds cannot be disbursed to your account until loan
counseling is completed.
2.
New CMU students must complete a Master
Promissory Note (MPN). The master promissory note is
a legal contract that requires the student to provide
references and a student signature. The amount you may
borrow each year is based on grade level, your student
status and your continued eligibility. You may complete
the MPN on line at: https://StudentLoans.gov by using
your Federal Personal Identification Number (PIN). Use
of the PIN qualifies as the student signature. If you do not
have a PIN, you can obtain one at the US Department of
Education’s PIN site at: http://www.pin.ed.gov Please
complete your master promissory note as soon as possible
but no later than two weeks before the end of a semester;
your direct loan cannot be credited to your account until
your MPN is on file with the federal direct loan processor.
As of July 1, 2013, a first-time borrower is no
longer eligible for the subsidized student loan
program if he or she exceeds 150% of the
published length necessary to graduate within an
undergraduate degree program. A borrower
reaching the 150% limit becomes ineligible for
the interest subsidy benefits on all federal
subsidized loans disbursed to the borrower on or
after July 1, 2013.

Federal Direct Unsubsidized Student Loan:
“Unsubsidized” means the federal government
does not pay the interest while the student is in
school, during the grace period or in deferment.
Students qualify for an unsubsidized loan
regardless of financial need. Students have the
option of having the interest capitalized and
paying that interest when they begin repayment or
paying the interest on this loan quarterly (see
Glossary).
LOAN FUNDS CANNOT BE CREDITED TO YOUR
ACCOUNT UNTIL STEPS 1 AND 2 HAVE BEEN
COMPLETED.
Students with a master promissory note on file with the
Direct Loan Program (returning CMU students and
transfer students) do not need to complete a promissory
note. You will be informed on your Award Notice of your
maximum loan eligibility. You may reduce or reject the
amount of your student loan(s) at
https://centrallink.cmich.edu/_layouts/FinancialAid/
3.
Enroll at least half time.
4.
Meet the general eligibility criteria listed on page 3.
13
Federal Graduate PLUS – Loans for Graduate
Students:
 This program is for students with regular
admission to a graduate level program. You
must be enrolled at least half time to receive the
loan.
 You must file the FAFSA to be considered and
must use all unsubsidized loan eligibility before
you may borrow under the Graduate PLUS
program.
 This loan is a non-need loan for students with
good credit histories.
 Applicants may borrow up to the cost of
attendance minus other financial assistance.
 Students will receive an automatic deferment
while enrolled at least half time. Interest begins
to accrue upon the first disbursement of the
loan.
Special instructions for students: to apply for and receive a
Graduate PLUS loan, students must:
1. Complete the online Graduate PLUS Loan Application online at
https://studentloans.gov/myDirectLoan/index.action
2. Complete Graduate PLUS entrance counseling at
https://StudentLoans.gov and a Graduate PLUS Master
Promissory Note (MPN). The master promissory note is a
legal contract that requires the student to provide references and
a signature. You may complete the Graduate PLUS MPN online
at: http://StudentLoans.gov by using your Federal PIN. If you
do not have a PIN you can obtain one at http://www.pin.ed.gov .
The Grad PLUS will be credited to your account once the federal
processor has approved your loan and your MPN is on file
with the federal direct loan processor.
3. You must be enrolled at least half-time and
 F
4. You must meet the general eligibility criteria listed on page 3.
e

F
Special Instructions for parents: to apply for and receive a
Direct PLUS Loan, parents must:
1.
Complete the online PLUS application found at
https://studentloans.gov/myDirectLoan/index.action . The
federal processor will use this information to complete the
review of your credit record.
2.
Complete a PLUS Master Promissory Note (MPN). The
master promissory note is a legal contract that requires the
parent to provide references, parent and student information,
and a parent signature. You may complete the PLUS MPN
on-line at: http://StudentLoans.gov by using your Federal
Personal Identification Number (PIN). Use of the parent’s
PIN qualifies as the parent signature. If you do not have a
PIN, you can obtain one at the US Department of
Education’s PIN site: http://www.pin.ed.gov . The PLUS
loan will be credited to your student’s account once the
federal processor has approved your loan and your MPN is
on file with the federal direct loan processor.
AND,
3.
Your student must be enrolled at least half-time and
4.
Your student must meet the general eligibility criteria
listed on page 3.
Federal PLUS Loan (Federal Direct Parent Loan for
Undergraduate Students): These loans are non-need based loans
for a parent with a good credit history who chooses to borrow for a
dependent student. Under this program, a parent can borrow up to
the total cost of education minus other expected financial
assistance. The parent borrower may choose to defer payments on
a PLUS loan until six months after the date the student ceases to be
enrolled at least half time and pay accruing interest monthly or
quarterly, or allow interest to be capitalized quarterly. Interest
begins to accumulate at the time the first disbursement is made.
The parent borrower may choose to repay both principal and
interest while the student is in school or take advantage of
deferring payments.
The borrower can only be a biological parent or a custodial stepparent. The parent borrower does not have to be the parent who
completed the FAFSA.
If a parent cannot borrow a Direct PLUS Loan because the federal
processor has denied the application due to adverse credit history,
the dependent undergraduate student may be eligible to borrow
additional amounts in the form of an Unsubsidized Direct Loan.
For more information, contact the OSFA.
14
Disbursement: Federal Direct Student and PLUS loan funds will be paid in two payments (disbursements). Students who have
fall/spring loans will receive one payment in the fall and one in the spring semester. One semester loans will be paid in one
disbursement.
Interest Rates:
 Undergraduate Federal Direct subsidized and unsubsidized loans for loan periods after July 1, 2013: fixed at 3.86%.
 Graduate Federal Direct unsubsidized loans after July 1, 2013 : fixed at 5.41%
 Federal Direct PLUS Loan and Grad PLUS Loan after July 1, 2013: fixed at 6.41%.
Please note -Interest rates for 2014-2015 will be determined July 1, 2014.
Fees: Student borrowers of Direct Loans are assessed a 1.072% origination fee prior to loan disbursement. PLUS borrowers are
assessed a 4.288% origination fee prior to loan disbursement.
Processing Your Federal Direct Loan(s): All documentation (e.g., verification documentation) required to process your loan(s)
must be submitted by the following dates:
November 1
March 15
June 1
Fall Semester loan
Spring Semester or Fall/Spring academic year loan
Summer Session loan
FEDERAL DIRECT STUDENT LOAN LIMITS
MAXIMUM LOAN AMOUNT FOR A FULL ACADEMIC YEAR
Credit Hours Earned
Dependent Student
Maximum
Maximum
Subsidized
Unsubsidized
Freshman (0-25)
$3,500
$2,000
Sophomore (26-55)
$4,500
$2,000
Junior (56-85)
$5,500
$2,000
Senior (86 +)
$5,500
$2,000
Graduate/Professional – Unsubsidized only
Medicine (MD program) – Unsubsidized only
Total
Independent & Dependent Student w/Plus Denial
Maximum
Subsidized &
Additional
Unsubsidized
Unsubsidized
Total
$5,500
$6,500
$7,500
$7,500
$5,500
$6,500
$7,500
$7,500
$ 4,000
$ 4,000
$ 5,000
$ 5,000
$ 9,500
$10,500
$12,500
$12,500
$20,500
$40,500
NOTE: Your loan limit cannot exceed your cost of attendance minus other financial aid you receive.
CUMULATIVE LIMITS
SUBSIDIZED (NEED-BASED) LOANS:
Undergraduate Study
$23,000
Graduate Study, including loans for Undergraduate Study
$65,500
SUBSIDIZED LOANS PLUS UNSUBSIDIZED (NON NEED-BASED) LOANS:
Dependent Undergraduate Student
$31,000
Independent Undergraduate Student
$57,500
Graduate or Professional Student, including loans for Undergraduate Study
$138,500
Medical Students (MD program), including Graduate and Undergraduate
$224,000
15
Loan Repayment: Prior to leaving the university (either by graduation or withdrawal), students are required to participate in exit
loan counseling to receive important information about repayment, consolidation, deferment and other matters, and to have the
opportunity to ask questions about specific situations.
Federal Direct Subsidized Loan repayment of principal begins six months (grace period) after the student leaves college or drops
below half-time status. Interest does accrue during the grace period and when student has exceeded 150% of undergraduate program
length.
Federal Direct Unsubsidized Loan interest accumulates on the loan while the student is in school and during the grace period. The
student can either pay this interest as it accumulates or wait until he or she begins repaying the loan principal (the amount of money
the student borrowed). If the student chooses to delay interest repayment, the interest that accumulates will be “capitalized,” i.e., will
be added to the loan principal when he or she begins repayment. This means the total amount of the loan will increase.
Repayment on the Federal Direct PLUS (Graduate and Parent) Loan begins within 60 days after the loan is fully disbursed. Parent
borrowers may choose to defer payments on a PLUS loan until six months after the date the student ceases to be enrolled at least half
time and pay accruing interest monthly or quarterly, or allow interest to be capitalized quarterly. Graduate PLUS loans are
automatically deferred while enrolled at least half time.
Examples of Typical Beginning Payments for Federal Direct Loan Repayment Plans
Standard
Graduated
Extended
Total Debt
$3,500
5,000
7,500
15,000
40,000
Per
Month
$50
58
83
173
460
Total
$4,471
6,905
10,357
20,714
55,239
Per
Month
$25
40
59
119
316
Total
$5,157
7,278
10,919
21,834
58,229
Per
Month
N/A
N/A
N/A
N/A
277
Total
N/A
N/A
N/A
N/A
83,289
Income
Contingent
(Single)
Per
Month
$24
38
57
114
253
Total
$5,241
7,703
13,055
26,110
72,717
Note: Payments are calculated using the fixed interest rate of 6.8% for Federal Direct Loans first disbursed on or after July 1, 2013.
Income Contingent Plan assumes an annual income of $25,000 and assumes a 5% annual income growth (Census Bureau).
Federal Perkins Loan: This loan is a long-term, low-interest (5 percent), needbased loan awarded by the OSFA. It is offered to full-time students who are U.S.
citizens or permanent residents. Students may borrow up to $5,000 annually,
$20,000 maximum. Perkins Loans are intended for students who have
exceptional financial need and are on-time applicants. Due to limited funding,
awards are offered to on-campus undergraduate students only.
No interest is charged on this loan while the student maintains at least half-time
enrollment status. Five percent interest is charged and repayment of the
principal begins nine months after the student leaves school. Depending on the
amount borrowed, students have up to ten years to repay the loan after leaving
school. Deferment of repayment or loan cancellation is allowed under special
circumstances. Please refer to the promissory note for deferment/cancellation
options.
Special Instructions: If you have been offered a
Perkins Loan, you will receive an email in your
CMU global email account with a link to
instructions on how to activate the Perkins Loan.
Please follow the instructions sent to you regarding
completion of Perkins Loan entrance counseling
and the Perkins promissory note. Federal Perkins
Loan money cannot be credited to your account
until Perkins entrance counseling and promissory
note is completed, signed and returned to the
OSFA. Normally the loan will be divided and
credited equally to the Fall and Spring semesters.
A new promissory note must be completed each
year to receive a Federal Perkins Loan.
16
PRIVATE/ALTERNATIVE LOANS
What is an alternative loan?
Alternative loans are credit-based, private student loans. Students may borrow alternative loans up to the full cost of education, less
other aid. Alternative loans generally have higher interest rates and fewer repayment options than federal loans. Eligibility for
alternative loans often depends on the student's credit score; therefore, a cosigner is usually required. Even if a cosigner is not
required, the student can generally receive a more favorable rate with a cosigner. Generally, borrowers with better credit histories
receive better loan terms. CMU strongly urges students to first apply for federal grants and loans by completing the Free Application
for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov/
Who should I borrow from?
Lenders that offer Alternative/Private Student Loans vary in their interest rates and terms available. Be aware that some lenders will
require payment while you are enrolled in school. Other lenders will let you defer payment, but interest will accrue and be added to
your balance. You will owe more than you borrowed once you leave school.
You have the right to borrow from any lender. You should compare alternative loan lenders to determine which lender best meets
your needs. CMU has no financial interest in a student’s choice of lender. CMU will process ANY alternative loan for which a
student has been approved and has financial need up to the cost of attendance minus all other financial aid received.
For information on lender selection options and information go to http://www.finaid.org/loans/privatestudentloans.phtml
Once you have selected a lender, you must specify a requested loan period. You should use the following dates:
Fall 2014 only:
Fall and Spring 2014-2015:
Spring 2015 only:
08/20/2014 to 12/15/2014
08/20/2014 to 05/03/2015
12/24/2015 to 05/03/2015
BORROWING SENSIBLY
Although an alternative loan is a convenient source of additional funding for your education, it is important to budget and borrow
carefully:
·
Consider ways to keep your costs down in order to limit your total loan debt.
·
Once you decide to borrow, borrow only what you need. You must repay loans with interest that begins accumulating
immediately upon disbursement of the loan.
·
Before you borrow, it is wise to estimate both the amount of debt you may be able to afford and the potential monthly loan
payment you can expect after you graduate. There are many online calculators available to help you estimate.
Also, take very seriously the responsibility of borrowing and repaying an educational loan:
·
Be sure to read and understand the terms and conditions on your promissory note. You are agreeing to repay the loan with all
the accrued and capitalized interest and deducted fees.
·
It is your responsibility to read and keep all your records and contact your lender regarding any changes in your status as a
student.
·
You are obligated to repay your loan regardless of whether you complete your education, are satisfied with your education, or
are able to find a job.
·
Alternative loans can be consolidated but not in combination with Federal loans. The two loan types must be consolidated
separately.
How conscientiously you make payments on your student loan will affect your ability to borrow for a car, a house, or other purchases
in the future. If you are late with your student loan payments, it will have a negative effect on your credit history. On the other hand,
repaying your student loan on time can help you establish and maintain an excellent credit history.
Direct to Consumer Loans (DTC): Educational loans that are not certified by the OSFA should be avoided. DTC loans have
extremely high interest rates and students are encouraged to borrow more than the cost of attendance.
17
RIGHTS AND RESPONSIBILITIES
You have the right to ask the university:
.
.
.
.
.
.
.
.
.
.
.
.
the cost of education and the university’s refund policy;
what financial assistance is available, including information on all federal, state, local, private,
and institutional financial aid programs;
about the procedures, forms and deadlines for submitting applications for each available
financial aid program;
the student eligibility requirements and the criteria for selecting recipients from the
group of eligible applicants;
how your financial need is calculated, including the determination and amount of the expected
family contribution and the criteria for determining the amount of your aid award;
how much of your financial need has been met, as determined by the OSFA;
how aid is disbursed or paid to your account;
to explain each type and amount of assistance in your financial aid package;
the interest rate on any federal student loan you have, the total amount you must repay, the
length of time you have to repay, when you must start repaying, and what cancellation or
deferment (postponement) provisions apply;
if you are offered a Federal Work Study award, what kinds of jobs are available, the hours, the duties, and the rate of pay;
to reconsider your aid package, if you believe a mistake has been made or if your enrollment
or financial circumstances have changed;
how we determine whether you are making satisfactory progress and what happens if you are
not.
It is your responsibility to:
.
.
.
.
.
.
.
.
.
.
.
.
review and consider all information about academic programs before enrolling;
pay special attention to the application for financial aid, answer the questions completely and
accurately, and submit the forms on time and to the right place;
know and comply with all deadlines for applying or reapplying for financial aid;
provide all documentation, corrections, and new information requested either by the OSFA or the agency to which your need
analysis form was submitted;
notify the OSFA of any information that changes after applying;
read, understand and keep copies of all forms that you submit;
repay any student loans you have (when you sign a promissory note, you are agreeing to repay
the loan);
complete entrance and exit loan counseling sessions if a Federal Perkins or Federal Direct Loan has been received;
notify the university of a change in name, social security number, address, or attendance status
(half-time, three-quarter-time, full-time, or less-than-half-time);
satisfactorily perform the work agreed upon in a Federal Work Study job;
understand the university’s refund policy;
conform to published behavioral guidelines during any contacts with the OSFA. See the CMU Bulletin: Policies and
Procedures Relating to Student Rights and Responsibilities.
18
GLOSSARY OF FINANCIAL AID TERMS
Academic Year: A period of at least 30 weeks of instructional time during which a full-time undergraduate student is expected to
complete at least 24 new credit hours (full-time graduate student must complete 18 new credit hours).
Accrual Date: The day interest charges on an educational loan begin to accumulate.
Accrued Interest: Interest that accumulates on the unpaid balance of your loan.
Agency Scholarship: Scholarships awarded to students by organizations external to CMU. Scholarships $500 or higher are
disbursed equally between the fall and spring semesters.
Award Notice: Your notification from CMU of the types and amounts of aid offered and the terms and conditions of that aid. The
Notice includes information about attendance costs.
Award Year: The period between July 1 of one year and June 30 of the following year. CMU begins the award year with the fall
semester, followed by the spring semester, and ends with the summer session.
Campus-based Aid: The Federal Perkins Loan, Federal Work-Study, and Federal Supplemental Educational Opportunity Grant
Programs are collectively called the federal “campus-based” programs, because the funds are administered directly by the school’s
financial aid office and awarded to students under federal guidelines.
Capitalization of Interest: The process of adding unpaid interest to the principal balance of an educational loan, thereby increasing
the total amount to be repaid.
Central Processing System (CPS): The system that receives your need analysis data. The CPS calculates your official Expected
Family Contribution, which is a total of your calculated Parent Contribution (PC) and/or Student Contribution (SC).
Citizen/Eligible Non-citizen: You must be one of the following to receive federal student aid:
1. U.S. citizen
2. U.S. national (includes natives of American Samoa or Swain’s Island)
3. U.S. permanent resident with an I-151 card, a conditional permanent resident with a I I-551C card
If you are not in one of these categories, you must have an Arrival-Departure Record (I-94) from the U.S. Department of Homeland
Security (DHS) showing one of the following designations: “Refugee”, “Asylum Granted”, “Parolee” (I-94 confirms that you were
paroled for a minimum of one year and status has not expired), “Victim of human trafficking” T-Visa holder (T-1, T-2, T03, etc.) or
“Cuban-Haitian Entrant.”
You can also be eligible based on the Family Unity Status category, with approved I-797s (Voluntary Departure and Immigrant
Petition). Citizens of the Federated States of Micronesia, the Republic of the Marshall Islands and Palau are eligible for Federal Pell
Grants, Federal SEOG, or Federal Work Study only.
You are NOT eligible for federal financial aid if you only have a Notice of Approval to Apply for Permanent Residence (I-171 or I464A), or if you are in the U.S. on an F1, F2, J1, J2 or G series visa.
Consolidation: See Loan Consolidation.
Cost of Attendance (COA): Your anticipated expense to attend CMU. Includes tuition, housing, food, transportation, books and
supplies, personal expenses, and other costs, depending on individual circumstances and curriculum.
Default: See Loan Default.
Deferment: See Loan Deferment.
Delinquency: See Loan Delinquency.
Direct Graduate PLUS Loan: A federal loan that enables graduate students with good credit histories to borrow to pay for
educational expenses. Students must be enrolled at least half-time, file a FAFSA, and meet all eligibility requirements listed on page
3.
19
Direct PLUS Loan: A federal loan that enables parents of dependent undergraduate students with good credit histories to borrow to
pay for education expenses; students must be enrolled at least half-time.
Direct Subsidized Loan: A federal loan that is awarded to a student based on need. If you qualify for a subsidized loan, the Federal
government pays interest on the loan while you are enrolled at least half-time as an undergraduate student.
Direct Unsubsidized Loan: A non-need-based federal loan. If you qualify for an unsubsidized loan, you will be charged interest
from the time the loan is disbursed until it is paid in full.
Disbursement: The release of loan funds to the school for delivery to the borrower. Disbursements for most loans are made in equal
multiple installments, i.e., a fall-spring loan is disbursed in the fall and the spring.
Entrance/Exit Interviews: Borrowers of Federal Direct Loans and Federal Perkins loans are required to attend counseling sessions
before receiving their first loan disbursement and again before leaving school.
Expected Family Contribution (EFC): An amount, determined by a formula established by Congress, that indicates how much of
your family’s financial resources should be available to help pay for school. Factors such as taxable and nontaxable income, assets
(such as savings and checking accounts), and benefits (for example, unemployment or social security) are all considered in this
calculation. The EFC is used in determining your eligibility for financial aid. The EFC is not the amount you must pay directly to the
university, but rather the family’s share of the total cost of education.
Federal Direct Loan Servicers: The Direct Loan Servicers are agents of the Federal Department of Education that conducts credit
checks for Federal Direct PLUS and Graduate PLUS Loans, and services all direct loans during in-school, grace, and repayment
periods. It is the responsibility of the Federal Direct Loan Servicers to collect payments of direct loans, and provide customer service
to borrowers.
Federal Pell Grant: A federal grant program for needy, post-secondary students who have not received a bachelor’s degree or first
professional degree.
Federal Perkins Loan: Low interest loans (5 percent) for needy students. Priority is given to undergraduate students with
exceptional financial need as defined by CMU.
Federal Supplemental Educational Opportunity Grant: A federal grant for undergraduates with exceptional financial need
(students with the lowest EFCs); priority is given to students who receive Federal Pell Grants.
Federal Work Study: A federal employment program that subsidizes wages for needy post-secondary students to help them pay for
educational expenses.
Financial Aid: Financial assistance in the form of scholarships, grants, employment opportunities and educational loans from federal,
state, institutional and private sources.
Forbearance: See Loan Forbearance.
Free Application for Federal Student Aid (FAFSA): The federal aid application. All students who wish to be considered for
federal and most state and institutional aid must complete this. Students must reapply yearly.
Full-time Student: An undergraduate student taking a minimum of 12 credit hours per semester or a graduate student taking a
minimum of nine credits per semester.
Gift Aid: Educational funds such as grants or scholarships that do not require repayment from present or future earnings.
Grace Period: See Loan Grace Period.
Grant: A type of financial aid based on need that is not repaid by the student.
Half-time Student: An undergraduate student taking six to eight credit hours per semester or a graduate student taking five to eight
credit hours per semester.
Interest Rate: A fee charged for the use of borrowed money. Interest is calculated as a percentage of the principal (amount
borrowed) loan amount. The rate may be unchanged (constant) throughout the life of the loan (fixed rate) or it may change at specified
times (variable rate).
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Less-than Half-time Student: An undergraduate student taking less than six credit hours per semester or a graduate student taking
less than five credit hours per semester.
Loan Consolidation: A loan program that allows a borrower to combine various federal educational loans into one new loan. By
extending the repayment period (up to 25 years depending on the loan amount) and allowing a single monthly payment, consolidation
can make loan repayment easier for some borrowers.
Loan Default: Failure to repay a student loan according to the terms agreed to when you signed a promissory note. For a loan
repayable in monthly installments, a loan is in default when this failure to repay persists for 270 days. If you default, your school, the
organization that holds your loan, the state, and the federal government can all take action to recover the money, including notifying
national credit bureaus of your default. Wages and tax refunds may be garnished, and you will no longer be eligible to receive federal
financial aid.
Loan Deferment: An authorized period of time during which a borrower may postpone principal and interest payments. Deferments
are available while borrowers are in school at least half-time, enrolled in a graduate fellowship program or rehabilitation training
program, and during periods of unemployment or economic hardships. Other deferments may be available depending on when and
what you borrowed. Deferments extend the loan repayment period by the length of the deferment period.
Loan Delinquency: Failure to make a loan payment when due.
Loan Forbearance: An authorized period of time during which the lender agrees to temporarily postpone a borrower’s principal
repayment obligation. Interest continues to accrue and usually must be paid during the forbearance period. Forbearance may be
granted at the lender’s discretion when a borrower is willing to repay his/her loan but is unable to do so.
Loan Grace Period: The period between the time a borrower leaves school or drops below half-time and the time he or she is
obligated to begin repaying loans - usually six or nine months, depending on the type of loan.
Loan Origination Fee: A fee charged by the federal government and deducted from loan proceeds before disbursement to partially
offset administrative costs of the loan program.
Loan Principal: The amount borrowed. Interest is charged on this amount. Origination fees for Federal Direct Loans are deducted
prior to disbursement.
Master Promissory Note: The legal document borrowers sign when they get a Federal Direct or Federal Perkins loan. It lists
conditions under which the money is borrowed and the terms under which borrowers agree to repay the loan with interest. Borrowers
should keep the borrower copy of their promissory notes until the loans are fully repaid.
Merit-based Aid: Assistance that is awarded because of a student’s achievement or talent in a particular area, such as academics,
athletics, music, etc.
Need: The difference between CMU’s cost of attendance (COA) and a student’s (and family’s) ability to pay (EFC). Ability to pay is
represented by the total of the parent and/or student contribution(s).
Need Analysis: A system developed by Congress that is used to estimate a family’s ability to pay for post-secondary education; one
of the necessary steps in establishing a student’s need for financial assistance.
New Borrower: A borrower who has no outstanding (unpaid) educational loan balances on the date he or she signs the promissory
note for a specific educational loan. New borrowers may be subject to different regulations than borrowers who have existing loan
balances.
Over award: A situation in which the student’s combined resources, including parent and/or student contribution(s) and financial aid,
are greater than the cost of attendance. Over awards are not permitted for students receiving federal financial aid.
Promissory Note: The legal document borrowers sign when borrowering a loan. It lists conditions under which the money is
borrowed and the terms under which borrowers agree to repay the loan with interest. Borrowers should keep a copy of their
promissory notes until all loans are fully repaid.
Repayment Schedule: Discloses the borrower’s monthly payment, interest rate, total repayment obligation, due date and length of
time for repaying the loan.
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SAR: See Student Aid Report.
Satisfactory Academic Progress: The academic standard, as determined by CMU in compliance with federal regulations, which a
student must meet to continue receiving federal financial aid.
SEOG: See Federal Supplemental Educational Opportunity Grant.
Special Circumstance: If you and your family have unusual circumstances, such as tuition expenses at an elementary or secondary
school, unusual medical or dental expenses not covered by insurance, expenses associated with a parent attending college or a family
member who recently became unemployed, a recalculation of your expected family contribution may be possible. Contact the OSFA
for more information.
Student Aid Report (SAR): A form returned to the student after submitting the FAFSA or Renewal Application to the federal
processor. The SAR shows the information that was processed and indicates whether a student is eligible for a Federal Pell Grant.
The SAR is available online at: www.fafsa.gov . (Your Federal PIN is required). For duplicate reports call (800) 433-3243.
TEACH Grant: A federal grant that provides up to $4,000 per year in conditional grant money for students who agree to teach
certain high-need-subjects in low-income schools. The grants turn into unsubsidized loans for students who do not fulfill the teaching
obligation.
Three-quarter Time Student: An undergraduate student taking nine to 11 credit hours per semester.
Title IV Programs: Student financial aid programs administered by the Office of Postsecondary Education within the U.S.
Department of Education, authorized by Title IV of the Higher Education Act of 1965, as amended. These programs are: the Federal
Pell Grant Program, the William D. Ford Federal Direct Loan Program, the Federal Perkins Loan Program, the Federal Work-Study
Program, and the Federal Supplemental Educational Opportunity Grant Program.
Verification: A process of review to determine the accuracy of the information on a student’s financial aid application (FAFSA).
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WHERE TO FIND US
The OSFA is available to assist all students in applying for, processing, and receiving financial aid. The Student Service
Court, located on the lower level of the Bovee University Center, is the main OSFA service counter. Student service
advisors are available on a walk-in basis to assist students with most of their financial aid transactions. Hours are Monday
10 AM to 5 PM, Tuesday through Friday 8 AM to 5 PM. For your convenience, a drop box for financial aid documents is
located in the circular drive in front of the Bovee University Center. Financial aid advisors are available by appointment
Monday through Friday 8:30 AM to 4:30 PM in Warriner Hall 202. Students and parents may also receive assistance by
contacting the OSFA via U.S. Mail, telephone, electronic mail and Fax:
Telephone:
Toll-free :
Fax Number:
E-mail:
Website:
(989) 774-3674
(888) 392-0007
(989) 774-3634
CMUOSFA@CMICH.EDU
http:// financialaid.cmich.edu
Central Michigan University
Office of Scholarships & Financial Aid
Student Service Court
Mt. Pleasant, MI 48859
MEET THE STAFF
NAME
TITLE
E-MAIL ADDRESS
Pam Adams
Debra Andrews
Christopher Brown
Brian Dempsey
Penny Ervin
Kristin Herndon
Kelvin Jackson
Kimberly Jackson
Candace Johnson
Carol Killinger
Tanya Mogg
Kristin Neubecker
Patricia Pickler
Margaret Polley
Anthony Rhodes
Alisa Saalman
Drew Sands
Rebekah Schaub
Deb Starr Alderink
Kelsey Stewart
Jacalyn Stoneman
Annette Sturdavant
Aimee Toth
Julie L. Wilson
Kirk Yats
Diane Young
Electronic Processing Clerk
Reception Clerk
Senior Associate Director - College of Medicine
Financial Aid Sysetms Analyst
Assistant Director – Loan Programs
Associate Director – Programs
Assistant Financial Aid Systems Analyst
Financial Aid Specialist Clerk
Senior Administrative Assistant – College of Medicine
Financial Aid Advisor
Financial Aid Advisor
Financial Aid Advisor
Assistant Director, SAP, Athletics & Cohorts
Assistant Director – Michigan Programs and Private Loans
Assistant Coordinator – Global Campus
Reception Supervisor
Student Service Advisor
Assistant Director, Endowed/Sponsored Scholarships
Assistant Director – Global Campus
Student Service Advisor
Reception Clerk
Student Service Advisor
Administrative Assistant
Associate Director – Client Services
Director
Senior Specialist Clerk – Global Campus
adams1pj@cmich.edu
andre2dj@cmich.edu
brown2ca@cmich.edu
demps1bm@cmich.edu
ervin1pm@cmich.edu
hernd1kh@cmich.edu
jacks1kr@cmich.edu
jacks2kr@cmich.edu
bonko1cn@cmich.edu
killi1ca@cmich.edu
teney1tl@cmich.edu
lande1kn@cmich.edu
pickllpm@cmich.edu
davis11m@cmich.edu
rhode4al@cmich.edu
saalm1am@cmich.edu
sands1dp@cmich.edu
schau1rm@cmich.edu
starr1dl@cmich.edu
stewa3k@cmich.edu
stone1jk@cmich.edu
barag1am@cmich.edu
toth1aa@cmich.edu
wilso1jl@cmich.edu
yats1km@cmich.edu
young1dm@cmich.edu
IMPORTANT CONTACTS
CENTRAL MICHIGAN UNIVERSITY
FEDERAL GOVERNMENT
Admissions Office
Telephone: (989) 774-3076
Toll-free: (888) 292-5366
E-mail: cmuadmit@cmich.edu
Website: https://www.cmich.edu/admissions/Pages/default.aspx
FAFSA: www.fafsa. gov
U.S. Department of Education
Federal Student Aid Programs
(800) 433-3243
Student Account Services and University Billing Office
Internal Revenue Service
Telephone: (989) 774-3618
Request a tax form or tax listing
Toll-free: (888) 610-4991
(800) 829-1040
E-mail:
recacct@cmich.edu
Website https://www.cmich.edu/fas/fsr/student_acct_university_billing/Pages/default.aspx
Registrar’s Office
Telephone: (989) 774-3261
E-mail:
registra@cmich.edu
Website www.registrars.cmich.edu
Residence Life Office
Telephone: (989) 774-3111
Website: www.reslife.cmich.edu
Scholarships and Financial Aid Office
Telephone: (989) 774-36
E-mail:
cmuosfa@cmich.edu
Website:
http://financialaid.cmich.edu
Student Employment Office
Telephone: (989) 774-3881
Website:
http://ses.cmich.edu
STATE OF MICHIGAN
Michigan Department of Civil Rights
Michigan Indian Tuition Waiver Certification
(517) 241-7748
Michigan Office of Scholarships & Grants
(888) 447-2687
Website: www.michigan.gov/mistudentaid
Michigan Education Trust (MET)
(888) 638-4543
CMU, an AA/EO institution, strongly and actively strives to increase diversity within its community (see
www.cmich.edu/aaeo).
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