Policies, Terms and Conditions
Academic Progess
- To maintain eligibility for financial aid, students must meet the standards of academic progress as
set by the College as well as any additional criteria imposed by federal and state regulations. Failure to do so may result in loss of aid.
- It is important to be aware that academic progress must be both qualitative and quantitative.
Payment Policies
- You will be billed by semester and all bills must be paid on the date specified or you will be subject to a late fee.
- If an award from your Award Letter does not appear on your bill you may deduct it directly from your bill. Please note that you must be prepared to pay any balances on your bill resulting from adjustments to your financial aid award.
- Monthly payment programs are available. Literature about these programs will be mailed in your billing package.
Title IV Refund Policies
- If you have officially withdrawn from the College, you may be entitled to a refund.
- The return of all Federal Title IV funds (including Federal Plus Loans) shall be based on the percentage of the payment period completed. Earned aid is measured against unearned aid to determine the dollar amount to be returned to the Federal government.
- If any funds are remaining after the federal dollar has been determined and the student account is clear, those funds can be refunded to the student.
- If you unofficially withdraw, you will be withdrawn at 50% of course completion unless there is an official date of attendance greater than 50%.
Caldwell College Terms & Conditions Governing Student Financial Aid
All awards are subject to the following terms & conditions outlined below.
1. The Office of Financial Aid reserves the right to review and cancel an award at any time due to changes in financial or academic status. There is no obligation on the part of Caldwell College, the State of New Jersey or any other agency to fund any award based upon fraudulent, inaccurate or misleading information.
2. Students who receive financial assistance from the college, the State, or the Federal Government must maintain satisfactory academic progress, as stipulated in the Caldwell College catalog.
3. Recipients of financial assistance from the college are to notify the Office of Financial Aid of any other financial assistance extended to them from sources outside the college. An adjustment of your total financial aid award may be necessary.
4. If your offer of financial assistance includes a Federal Work Study award the amount awarded is the maximum amount you may expect to earn during the academic year, this will be from hours worked in a department and you will receive a paycheck once a month..
5. Any commitment of Federal Funds (i.e. Supplemental Educational Opportunity Grant, Pell Grant, or Federal Work Study Program) is tentative and contingent upon subsequent Congressional appropriation and actual receipt of the funds by Caldwell College. In addition, any commitment of State Funds (NJ Tuition Aid Grant, Scholarships, and Equal Opportunity Funding) is tentative and contingent upon subsequent State approval usually finalized after August 1.
6. Financial need is evaluated each year based on information provided on your FAFSA application. It is the student’s responsibility to apply each year as soon as possible after January 1st to ensure maximum eligibility for aid.
7. Students receiving financial aid who find it necessary to withdraw from the college should notify the Office of Financial Aid of this action prior to withdrawal to find out the possibilities of owing a balance to the school and direct lending.
8. Students receiving Federal Direct Loans for the first time must complete an entrance interview (EI) and a Master Promissory Note (MPN) prior to credit of any loan funds to the student’s account. Prior to graduating, withdrawing or transferring from Caldwell College students must also complete an exit interview.
9. To ensure loan funds are available to you in order to pay your semester bill, we strongly recommend applying for all loans by July 15.
10. Caldwell College grant aid is for students studying full time on campus each semester. Students attending part time or off campus are typically not eligible for Caldwell College grant aid.
11. If selected for verification, applicants must submit to the Office of Financial Aid all requested documents to receive financial aid.
Caldwell College does not discriminate against financial aid applicants or in the subsequent awarding of aid on the basis of race, color, creed, age, national or ethnic origin, or handicap.
