Financial Aid Policies
FEDERAL AND STATE SATISFACtORY ACADEMIC PROGRESS (SAP) POLICIES
Federal Financial Aid Disbursement Policy
If your federal financial aid exceeds your semester charges (e.g. tuition, fees, bookstore vouchers, etc.) those funds will be paid to you beginning in the 5th week of the semester.
If you are enrolled in late-starting courses that affect your enrollment status, your disbursement of funds for Direct Loan and TAP will be held until your late starting courses have begun.
Your eligibility will be based on your enrollment status at the end of the third week of the semester.
At that point, your enrollment status will be verified and your financial aid will only change after that point if one of the following occurs and affects your enrollment status for the programs from which you are receiving federal aid:
- You submit a retroactive drop that results in a tuition refund, or,
- You fail to attend a late starting course, or,
- You drop a late starting course within the refund period, or,
- You withdraw from all your courses prior to the 60% point of the semester, or,
- You receive all F grades at the end of the semester and cannot verify attendance past the 60% point of the semester.
Please note that, in most cases, federal financial aid will not be increased if you add a course after your enrollment status is verified.
If your enrollment status changes at a later date due to one of the conditions indicated above, you may owe the College for tuition, fees, bookstore vouchers or funds paid to you that are no longer covered by federal aid.
Please be advised that these rules also apply to eligibility for state aid programs such as the New York State Tuition Assistance Program (TAP) and Aid for Part-Time Study (APTS).
All financial aid refunds will be done by direct deposit and will only be delivered via the refund preference selected through BankMobile. For more information about BankMobile, visit http://bankmobiledisbursements.com/refundchoices/.
RIGHTS AND RESPONSIBILITIES FOR STUDENTS
RECEIVING STATE AND FEDERAL AID AT SUNY CORNING
- All awards are contingent on full state and federal funding. You may be asked to verify your attendance prior to receiving any cash disbursements if your enrollment status is in question. Your aid may be revised or cancelled if your attendance cannot be verified.
- If you officially withdraw from all your courses before 60% of the semester has passed, then it may be necessary to revise your federal financial aid. As a result, you may owe the College for tuition, fees and cash disbursements that you previously received.
- If you fail all your courses in a semester, you will be required to verify your attendance beyond the 60 % in at least one course. If you are unable to do this, then you will be treated as an unofficial withdrawal from the College and your federal financial aid eligibility will be recalculated according to the Federal Refund Policy.
- TAP recipients must be enrolled full-time, incur full-time tuition liability and your course load must include 12 hours of degree/program requirements (unless it is your graduating semester).
- TAP recipients who need to take remedial courses such as Basic Math Skills or Basic Writing Skills must have at least 6 “credit” hours as part of their full time load. First time TAP recipients are allowed to have a minimum of 3 “credit” hours as part of their full-time load.
- Students receiving Direct Loans are required to complete Exit Counseling at studentaid.gov prior to graduation, withdrawal, or when dropping below 6 hours in a semester.
- New federal student loan borrowers at CCC must complete Entrance Counseling. This can be done at studentaid.gov. Your loan will not be disbursed to your account if you have not completed this requirement.