Frequently Asked Questions

Applying

General Eligibility

Loans

General loan information
Bank of America changes

Verification

State Aid

Missouri
Florida

Applying


What is Columbia College's federal school code?
002456

Who do I call to check on my financial aid status?
If you are a Day Campus or Evening Campus student at the Columbia Mo. campus, check with Registration and Financial Services at (800) 231-2391, ext. 7390 or (573) 875-7390. If you are from a nationwide/extended campus, check with the financial aid advisor at your campus.

How can I get an estimate of my federal aid situation?
This Financial Aid Estimator will give you an estimate of your Expected Family Contribution (EFC). It will also give you an estimate of your financial need. Both of these are the basis of how schools award federal aid.

What is auto-packaging for financial aid?
Columbia College auto-packages student's aid. After Columbia College Financial Aid Office has received the student's FAFSA results, a financial aid "package" is automatically developed. An electronic award letter (eAward) outlining the financial aid award will then be sent to the student within 24 hours. Notification of the eAward is sent to a student's CougarMail. The eAward can also be accessed through eServices. Students no longer are required to submit a Stafford Loan Data Sheet to request funds. A student can confirm loan amounts via the eAward; students may also reduce or decline via the eAward. Learn more about auto-packagingPDF document.

Can I opt-out of Columbia College's marketing campaign?
The marketing opt-out form allows a student to opt-out of the marketing for a specific financial aid award year. Opting out of the marketing campaign means that the student will not receive future financial aid marketing reminders regarding (via e-mail, postal mail, and phone) the deadlines, FAFSA completion, or loan certification information. Opting out does not mean that the student will no longer receive e-mails from financial aid. E-mails will continue to come as a result of processing responses and award changes. Opting out of marketing must be requested each individual year.

Marketing is done by the Financial Aid Office to help students meet deadlines and encourage students completing financial aid in a timely manner. Opting out of the marketing will keep the Financial Aid Office from sending student reminders. By opting out of the marketing a student takes on full responsibility of knowing financial aid deadlines and requirements.

Where are the financial aid forms for students to submit?
Beginning in 09-10 the financial aid forms for students are located on your eServices home page. It is located in the Financial Aid section.

Where are the financial aid forms for parents to submit?
Beginning in 09-10 the financial aid forms for parents are located on a parents form page at http://www.ccis.edu/offices/financialaid/parentforms.aspx.

Why can't I open the financial aid forms listed under eServices/Parent forms page?
Most of the financial aid forms are in a PDF format. To view this file type, you must have Adobe Reader installed on your computer. If you do not have it, you may download it for free at http://get.adobe.com/reader/

I have Adobe Reader, why I am still unable to view the document?
Adobe Reader is not opening in your Internet Browser. This is most likely due to your security settings for your browser. Right-click the link to the PDF file and select "Save As..." then save the file to your desktop or folder and then open it manually.

How do I submit the documents once I have them?
Print the documents and fill them out. Then you can mail, or fax them to Financial Aid. Our address is 1001 Rogers Street, Columbia, Missouri 65216 and our fax number is 573-875-7452. You can also bring them in or scan and email them to FinancialAid@ccis.edu.

Why can't I submit these online?
We are currently working on a document system that will allow this capability in the near future.

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General Eligibility


When is a student considered independent?
Not until the student turns 24 (i.e. student must turn 24 before January 1st of the award year). Exceptions to this are made for veterans of the U.S. Armed Forces, students with dependent(s) other than a spouse, married students, students in graduate or other professional school, or students who are orphans or wards of a court. If you are a dependent student and want to have the financial aid office to review your dependency status, you need to complete and return the Request for Dependency Override form located in the Forms section.

What is satisfactory academic progress and how does it affect my financial aid situation?
According to state and federal regulations, all students applying for federal and/or state financial assistance must maintain satisfactory progress in a degree program to receive federal and/or state funds. For more in-depth information, see the Financial Aid Standards of Academic Progress.

What will happen if I withdraw from all classes?
You will need to complete the official withdrawal process. Withdrawal can affect your aid situation and may result in some or all of your federal aid being returned to the federal government. For more in-depth information, you can see the Return of Title IV Funds (Federal Aid) Policy.
Day Campus students should consult the Dean of Campus Life if you have questions about the withdrawal process. All other students should contact Registration and Financial Services at (800) 231-2391, ext. 7390 or (573) 875-7390, or your local campus.

What if my financial situation has changed, can I have my information updated?
Yes. If you or your family has unusual circumstances (such as loss of employment or major medical expenses) that might affect your need for financial aid, you will want to complete the Special Consideration Form.

Is it possible to register for Selective Service when completing the FAFSA?
Yes, if you are male, age 18-25 and not already registered, you can register when completing the FAFSA (check box #22). Additional information can be found at http://www.ccis.edu/offices/financialaid/selectiveServiceDocs.asp.

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Loans


General questions

How much can I borrow?
Refer to "Annual Loan Limits" from U.S. Department of Education Web site.

How does Columbia College know how much I want to borrow?
A student can accept, reduce and accept, decline their eAward letter. The options to accept, reduce and accept, decline are available beside each award type (i.e. subsidized loan, unsubsidized loan, federal work study, Pell grant etc). A student must then submit their award letter by clicking submit at the bottom of the eAward. A student must accept federal Stafford loans and submit their award letter for the loan to be certified. A loan cannot be figured into a payment plan until it has been certified. The eAward letter can be accessed through a student's eServices. Learn more about auto-packaging.

What is a Grade Level Loan Limit?

Stafford Loan Program Annual Maximums
Year in school Credit hours Dependent Independent or dependent w/ PLUS denial
  Freshman 0.0-23.9 $5,500
$3,500 + $6,000
 = $9,500
  Sophomore 24-51.9 $6,500
$4,500 + $6,000
= $10,500
  Junior 52-83.9 $7,500
$5,500 + $7,000
= $12,500
  Senior 84-120 $7,500
$5,500 + $7,000
= $12,500
  Post-Bacc — $5,500
$5,500 + $7,000
= $12,500
  Graduate — —
$8,500 + $12,000
= $20,500
* Annual maximums include both subsidized and unsubsidized Stafford loans. These limits apply to loans borrowed from August through July. Amounts listed are the maximum amount a student may receive annually. Aggregate limits, proration, cost of attendance as well as other factors may keep a student from being eligible for the full annual maximum.

What is a loan period and how does is affect my loan?
Give the beginning and ending enrollment period applicable to the loan you are requesting. A loan period may not cover more than 9 months. For example, a loan may cover an entire academic year (August through May, a single 8-week session within an academic year (August through October, October through December, etc.), or a combination of 8-week sessions. You must be enrolled at least half-time to qualify for loan proceeds during an enrollment period.

How is my student loan disbursed?
Refer to "How will I receive my Stafford Loan" from U.S. Department of Education Web site.

Where and when do I pick up my refund check?
If you are a day or evening student you pick up your refund check at Registration and Financial Services in MO Hall. If you are a nationwide campus student, you need to contact your local campus for refund check pick-up information. If you are an online student your check will be mailed to you.

How do I request funds that I have reduced/denied/or gained eligibility for due to grade level change?
The Loan Request Form is available for individual circumstances that cannot be handled through the eAward. Packaging of aid eligibility is done automatically for up to 4 sessions. Examples of when the Loan Request Form may be needed.
  • Student plans on attending all five sessions August-July.
  • A student increased grade level after aid was packaged.
  • A student reduced loans on award letter but now needs to borrow more funds.
  • A student's loans for future sessions were denied or reduced due to non-enrollment, non-attendance, or withdrawal and the student wants to request funds for those future sessions.
A student should not complete a loan request form if the student has already been awarded their full Stafford loan eligibility.

Why does Columbia College have a preferred lender list?
Prior to 2001, Columbia College did not utilize any preferred lender. Due to the diverse geography of our student population, the College had to work with over 100 lenders annually, each of whom had varying levels of service. In an effort to comply with the federal Title IV disbursement requirements , and to streamline the process and provide a better experience for the student, both in terms of fees, service and loan options, the College selected preferred providers that have a regional or national presence that can service loans using a single point of contact and who have attractive origination fee options.

How is Columbia College's lender list compiled?
The college considers the following criteria for preferred providers:
  • The ability for the lender to provide the best front-end fee structure to the student and ability to provide good servicing during the life of the loan.
  • The ability of the college to work with the lender to process loan requests, communications, and disbursements in an electronic format and through a centralized and standardized processor.
Lenders that have been removed from the list were not able to satisfy this criterion. Students do have the option to originate a loan through a non-preferred lender.

Do I have to use a lender from Columbia College's preferred lender list?
Students and parents have the right and ability to select an education loan provider of choice and are not required to use any lender on the preferred lender list.

How do I go about using a non-preferred lender at Columbia College?
Student (for stafford loan and private, credit based loans) and Parents (for Parent PLUS loans) must submit a promissory note from the chosen lender to Columbia College. Until the promissory note is received Columbia College will be unable to complete the certification of any loan. Student and/or parent is responsible for communicating with chosen lender and ensuring that Columbia College receives appropriate notification that promissory note has been done. Students and/or parents using a non-preferred lender still must submit all other required documents for loans to be completed including but not limited to Parent PLUS loan data sheet, stafford entrance loan counseling, submission of eAward letter, etc.

How are loan funds from a non-preferred lender disbursed?
Loan funds will be sent via postal mail to Columbia College on or after the loan disbursement date. Checks will be made out to Columbia College and the borrower. Checks will have to be endorsed before funds can be credited to the student's account. Once the check is received the student will be contacted (via phone or mail depending on campus location) to endorse the check. The check will then be sent to the Accounting Office to have funds credited to the student's account.

How are loan funds from a preferred lender disbursed?
Loan funds will be sent to Columbia College via an electronic funds transfer (eft). Loan funds are credited to the student's account within 3 business days of receiving the funds (unless the student has been notified of a problem). Funds received electronically do not have to be endorsed to disburse to a student's account.

What are benefits?
Benefits are the benefits offered by the lender at this time. Benefits can change over the life of a student's promissory note. Students will need to contact their lender to determine how to earn the discounts listed under benefits.

Can you define Lender, Servicer and Guarantee agencies?
A Lender is the company that originates the loan; the organization that loans the money to a student. A Servicer is the company that provides customer service and account management services. Guarantee agencies insure the loans against default.

What are the fees?
There are two fees that can be charged through student loans: The default fee helps offset default costs for all borrowers and maintains the Federal Family Education Loan Program. Law requires that the fee be deposited into a federally-owned reserve fund; this money is given to the federal government. The maximum fee is 1%. The origination fee is a fee paid by the borrower (unless waived) to the lender to cover administrative fees for his or her loan. As of July 1, 2008 the maximum origination fee is 1%. This maximum decreases .5% each consecutive year until it is 0% (ie it is .5% July 1, 2009, and 0% July 1, 2010).

What is the interest rate?



Loans first disbursed between: 		Subsidized Stafford Loans Unsubsidized Stafford Loans FFELP PLUS Loans
Undergraduate borrowers Graduate Borrowers All Borrowers All Borrowers
7/1/2006-6/30/2008 6.8% 6.8% 6.8% 8.5%
7/1/2008-6/30/2009 6.0% 6.8% 6.8% 8.5%
7/1/2009-6/30/2010 5.6% 6.8% 6.8% 8.5%
7/1/2010-6/30/2011 4.5% 6.8% 6.8% 8.5%
7/1/2011-6/30/2012 3.4% 6.8% 6.8% 8.5%


I am trying to complete my Online Master Promissory Note and Entrance Counseling, but I am getting an error message. What should I do?
Loan Counselor can be run in Internet Explorer version 6.0 or higher, and may not work properly with other browsers such as Foxfire. If you are not using one of these versions, please contact your local campus to check availability of a computer for the purpose of financial aid form completion. We recommend that you:
  • Clear your Internet Explorer cookies prior to starting the entrance counseling. To accomplish this in Internet Explorer: go to Tools, then Internet Options. Under the General tab he will see a section called "Temporary Internet Files" with the option to Delete Cookies. Once cookies are deleted, go to the link to MPN/Entrance Counseling to start the e-sign/counseling process. This will usually remedy the problem.
  • Use the "Go back and review" link on the assessment question page as opposed to using the "back" button in the Internet Explorer to review previous screens.

If you continue to experience problems, please contact USA Funds Borrower Support Line at 1-866-848-9315 for additional assistance.


Bank of America changes

Bank of America was my lender. Why do I have to complete a new promissory note?
Bank of America has discontinued its relationship with Sallie Mae and is requiring new promissory notes be signed for loans to disburse (ie for loan funds be sent to Columbia College on the students behalf). The promissory notes that students signed through Sallie Mae for Bank of America are no longer valid. A Stafford loan cannot disburse without a valid promissory note.

How do Bank of America changes affect me during repayment?
The loans with Bank of America/ Sallie Mae will be repaid through Sallie Mae. The loans with Bank of America /Great Lakes will be repaid through Great Lakes servicing. This means that a student will have two different places to send payments to during repayment.

I like Sallie Mae. Do I have to go with Bank of America/Great Lakes? 
Students and parents have the right and ability to select any education loan provider of their choice. You can absolutely choose to not use Bank of America/Great Lakes. In order to ensure that Columbia College provides the best customer service possible, please complete the change lender form. In addition, you will need to provide a promissory note for the lender you want to use.

Please keep in mind Columbia College does not work with all lenders in an electronic format. Columbia College will work with Bank of America/Great Lakes in an electronic format even though Bank of America/Great Lakes is not a preferred lender. 

Should I choose a Sallie Mae lender instead of Bank of America/Great Lakes?
Students and parents have the right and ability to select any education loan provider of choice. Students who choose a lender who works with Sallie Mae will be able to have their loans combined into one payment as long as the loan stays with Sallie Mae over the life of the loan.

What is a change lender form?
A change lender form communicates to the Financial Aid Office that you no longer want to use your current lender. This means that Columbia College will place your future disbursements in a pending status and contact you via CougarMail to provide more information on how this will affect your loans. This process is necessary due to the fact that poor communication through a change can keep Columbia College from providing you the best possible service in changing lenders. Students and parents have the right and ability to select any education loan provider of choice and we support our students’ rights. You can complete the change of lender form here.

What happens if I don’t complete a new promissory note?
A loan cannot disburse unless a student completes a promissory note. Failure to submit the promissory note after it has been requested three times will result in the loan being cancelled. If a loan is cancelled then the student will need to complete several documents including  loan request form  requesting the loan amount the student is interested in borrowing, a master promissory note for the lender the student wants to use, and submitting the award letter accepting the loan amount.

Where do I complete a promissory note for Bank of America?
You can complete the promissory note for a Stafford loan online here.

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Verification


What is verification?
Verification is the process of confirming that the information reported by the student and/or parent on the Free Application for Federal Student Aid (FAFSA) is accurate. Each year approximately 30 percent of student applicants nationwide are randomly selected by the Department of Education for verification. NOTE: Students selected for verification cannot receive financial aid until their information has been verified. See links below for additional information:


What do I do if I am chosen for verification?
You will need to submit to the financial aid office certain financial information such as your own and your parents' tax returns, untaxed income, child support and other requested financial information. No aid will be processed until your verification is completed.

I don't have the forms needed for verification. Where can I get copies?
You can request a tax transcript free of charge from the Internal Revenue Service. The transcript can be ordered by completing Form 4506- T (Request for Transcript of Tax Return) or by calling (800)829-1040. You should receive the forms within 10 business after submitting the request. For more information, please view IRS Procedures. Please make sure to sign your transcripts before submitting them to the financial aid office. You can also request your prior year's W-2 forms from the IRS by completing Form W-2; however, it may be quicker to contact your employer.

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State Aid


Missouri


What is the Marguerite Ross Barnett Scholarship?
The Marguerite Ross Barnett Scholarship is a form of state aid that was established for students who are employed while attending school part- time. A student must be enrolled at least half-time but less than full time at a participating Missouri postsecondary school. Other qualifications include:
  • At least 18 years old
  • Missouri resident and a US citizen or eligible non-citizen
  • Employed and compensated for at least 20 hours per week
  • Demonstrate financial need
  • Maintain a 2.5 cumulative GPA and maintain satisfactory academic progress as defined by the school
For more information, please visit www.dhe.mo.gov/rossbarnett.shtml.

How do I apply for the Marguerite Ross Barnett Scholarship?
Along with completing the FAFSA, a student must submit a supplemental application. This application is submitted to the Financial Aid Office at Columbia College. Final eligibility for the scholarship is determined by the State of Missouri. Reminder--the FAFSA must be submitted by April 1 of the year the student plans to attend college (i.e. April 1, 2009 is the deadline for those applying for the 2009-2010 academic year).

I have applied for the Marguerite Ross Barnett Scholarship. Why haven't I been awarded?
Final eligibility for Marguerite Ross Barnett is determined by the state. Columbia College cannot request funds in your name until after the add/drop of the October 8 week session or March 8 week session due to the requirement that we verify you are a part-time student. While we do request funds for students, in the more recent years the state of Missouri has not had funds available for Columbia College students.

What is the Access Missouri Grant?
Beginning with the 2007-2008 academic year, the Charles Gallagher Student Grant and the Missouri College Guarantee Scholarship were replaced with the Access Missouri Program. This need-based grant is awarded to undergraduate students who are Missouri residents. Students must be full time with high need. The award amount varies depending on the student's calculated need from the FAFSA. It is only awarded for the academic year and not during summer sessions.

How do I know if I am eligible?
To be eligible for initial or renewed assistance a student must:
  • Have a FAFSA on file by April 1 for the upcoming academic year (i.e. April 1, 2009 for the 09-10 school year), with an EFC of $12,000 or less, and
  • Have any FAFSA corrections made by July 31 for the upcoming academic year (i.e. July 31, 2009 for the 09-10 school year); School choices may be added until September 30 of the academic year (i.e. September 30, 2009 for the 09-10 school year),
  • Be a U.S. Citizen or permanent resident and a Missouri resident,
  • Student must complete 12 hours for the fall time-frame (August through December) and 12 hours for the spring time-frame (January through May). Eligibility can be lost with a withdrawal or incomplete grade.
  • Maintain a minimum cumulative grade point average of 2.5 and otherwise maintain satisfactory academic progress as defined by the school.
  • Student must be working on their first undergraduate degree and not be pursuing a degree in theology or divinity.
For more information, please visit http://www.dhe.mo.gov/accessmo.shtml

If my GPA and/or academic progress has improved since the fall session, am I eligible for spring?
Students who have been denied an award for lack of satisfactory academic progress, including the grade point average requirement, cannot be reviewed for eligibility again until the next review of academic progress. Academic progress is reviewed twice a year-- in the December/January timeframe and in May. A student who was not eligible for fall but meets the requirement for spring may re-gain the Access Missouri Grant for spring. Eligibility will not be reviewed more than twice a year. For example, a student whose GPA increased above 2.5 after the summer session or August session cannot regain eligibility until Satisfactory Academic Progress is reviewed in the December/January time frame.

Why can’t the Access Grant be used to register with when it is included in my eAward letter?
Students cannot use this grant to register because they are not guaranteed funds -- the grant is contingent upon the student being full-time. The ACCESS Grant is packaged in an "estimated" status and is only moved to "awarded" status after add/drop has ended. We must wait for add/drop to end so we can confirm student is full-time and eligible for the state funds.

When is the Access Grant applied to my Account?
  • Day students are reviewed after the add/drop ends for the fall and spring semesters. If it is determined that a student is eligible for the grant we request the funds from the state. Once the funds are received they are applied to the student account. We typically receive the funds during the third or fourth week of classes.
  • Eight week students are reviewed after add/drop for the October term for fall and the March term for spring. If it is determined that a student is eligible for the grant, we request the funds from the state and once the funds are received they are applied to the student account. We typically receive the funds during the third or fourth week of the October term and the March term.

My updated eAward has zero for the amount of the Access Grant.
You are currently ineligible for the Missouri Access Grant. (see - How do I know if I am eligible?). This is usually because a student's GPA has dropped below 2.5 or you did not complete 12 semester hours for the award period.

I won't be able to complete 12 hours within the time-frame specified (I need to take two 5-hour science courses in each 8 week session). Is it possible to take a course that doesn't apply to my degree so I have 12 hours or go into an "overload" status for an eight week session to compensate for the shortage in hours?
All overload requests must go through your campus for review. Eligibility for federal and state grants can be reduced or denied if you take courses that do not apply to the current degree requirements.

I would like to repeat a course to increase my GPA. Is it possible to do this and still maintain my Missouri Access Grant eligibility?
Students are required to make satisfactory progress in his/her course of study. Repeating a course unnecessarily will not make progress toward completion of your degree requirements. If you have already received an acceptable grade in a required course, it is not recommended that you repeat as it may result in the loss of your Missouri Access Grant eligibility.

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Florida


Are you a participating school in Florida state-funded grant and scholarship programs?
Columbia College currently participates in several Florida state-funded programs. Florida residents are encouraged to research eligibility requirements and apply to any scholarship programs in which they are eligible and Columbia College is listed as a participating institution. Detailed information regarding eligibility requirements, listings of eligible schools, applications and terms and conditions of Florida state-funded aid can be found at: http://www.floridastudentfinancialaid.org/ssfad/home/uamain.htm.

What are the new requirements for the Florida Bright Futures Scholarships?
The Florida Legislative Session 2009 has adjusted the requirements and eligibility amounts according to Senate Bill 2600 and 1696:

  • Senate Bill 2600 - General Appropriations Act (GAA)
    • Specifies Florida Bright Futures Scholarship Program award amounts per credit hour in the 2009-10 academic year.
  • Senate Bill 1696 - Conforming Bill
    • Removes Bright Futures college-related expense awards for Florida Academic Scholars.
    • Requires institutions to refund the state for any Bright Futures award amount received for courses which were dropped or withdrawn after the drop and add period.
    • Amends Bright Futures Renewal Requirements:
      • Requires students to submit a refund to their institution for any award amount received for course(s) which were dropped or withdrawn after the drop and add period.
      • Allows students who lose their award due to not earning the required hours to restore the award in a subsequent academic year (available to students not meeting the hours requirement in the 2009-10 academic year and thereafter).
      • Revises credit hour requirements for full-time students to earn 24 semester hours (or the equivalent) per academic year (and prorated for part-time enrollment).
      • Prohibits the renewal of Florida Gold Seal Vocational awards to Florida Medallion awards.

Additional information regarding the Florida Legislative Session 2009 Update can be found at: http://www.floridastudentfinancialaid.org/SSFAD/PDF/2009_BF_SummerNotice.pdf.

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