General Questions

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

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

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

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

Q: If I drop a class during the semester, how will this affect my financial aid?
A:
As long as a student is attending 12 or more credits there is no change to the financial aid package.  Students dropping to 6-11 credits will no longer be eligible for Carroll aid and their Pell grant will be prorated.  Students falling below 6 credits are no longer eligible for Federal or Carroll aid.  Students dropping classes after the add/drop period will remain packaged with their original number of credits.  Dropping a class may impact the student's ability to meet Satisfactory Academic Progress (SAP) standards, see (SAP Brochure) for guidelines.

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

Q: Do students receive a late fee for delinquent student accounts?
A:
 Payment in full is due August 1st for the fall semester and January 1st for the spring semester. If payment is received after the due date, a $100 late fee will be assessed. Payments for students on the 5-month payment plan are due the 1st day of each month and delinquent if not received by the 10th day. Delinquent payment plan accounts are subject to a $10 late fee.