Financial Aid

These terms, conditions and policies apply to you as a financial aid recipient and it’s very important for you to understand them to avoid any consequences. If you have any questions regarding them, please contact us.

General Information

• You are required to inform the Financial Aid Office of any changes in enrollment status, any additional assistance not reported on your Award Notification, or a change in residency status. Change in enrollment status includes dropping, adding, or never attending a class.
• At the time your application was evaluated, you were automatically considered for all types of aid available, including grants, work-study and loans as you indicated on your CSC Financial Aid Application. The Financial Aid Office determined your eligibility for each type of aid and assigned a combination of assistance to meet your need and your request and the availability of funds.
• As a reminder, the student assistance received will be used solely for expenses related to your college attendance.

Refunds

CSC Refund Policy

The Chadron State College refund formula is based upon the number of weeks enrolled at the time of the withdrawal from Chadron State College. The following table displays the refund percentages for the various direct charges. These refund percentages are also effective for students dropping a portion of their classes or moving off campus.

Week student drops or withdrawals	Tuition Refund %	Fee Refund %	Residence Hall Refund %
Week 1	100%	100%	100%
Week 2	100%	100%	100%
Week 3	0%	0%	0%
Week 4	0%	0%	0%
Week 5	0%	0%	0%

Meal plans are prorated based upon the number of weeks used.

Federal Refund Policy

If you completely withdraw from CSC and you are a financial aid recipient, a portion of your financial aid must be returned to the Department of Education. This is part of the USDE guidelines for the Return of Title IV Funds requirements. Financial Aid recipients officially or unofficially withdrawing from Chadron State College prior to the expiration of 60% of the payment period (semester), the Return of Title IV requirements apply to you. For more information on the Return of Title IV refund policies, please contact us. If you officially or unofficially withdraw after 60% of the payment period you are considered to have earned 100% of your financial aid received. More information on official/unofficial withdrawal Click Here

NOTE: If you are a financial aid recipient, both the CSC and Federal Refund policies apply to you. You may end up owing both Chadron State College and the USDE if you officially or unofficially withdraw from Chadron State College. If you end up owing money to the USDE, you may no longer be eligible for future Student Financial Aid at any other institution until this money is returned. If you are planning to completely withdraw, we encourage you to explore your options before making a final determination, to avoid unforeseen consequences.

Post Withdrawals/Disbursements

If you are a financial aid recipient and officially or unofficially withdraw from CSC, you may be eligible for Post Withdrawal of federal aid funds if they have not yet been applied to account as of the day you withdraw. You will be notified by hard copy letter within 30 days from your withdrawal date if you are eligible and any obligations you may have that pertain to those funds not yet disbursed.

Notification of Repayment

As a financial aid recipient who officially or unofficially withdraws from CSC prior to the 60% of the enrollment period, you may be responsible for returning funds to the Federal Government based on the Return of Title IV calculation which is the formula that determines the amount of money to be returned. In addition, you may be required to pay CSC money that CSC had to return on your behalf. You will be notified by hard copy letter within 30 days of your repayment obligations. Repayment obligations must be satisfied within 45 days from the receipt of your notification letter. You will be eligible for financial aid within this 45 day period but eligibility will be discontinued on the 46th day unless the repayment is satisfied. The notification letter provides the terms for satisfying the repayment and the consequences for failing to repay.

Purchasing Your Books

Please plan to purchase your books and supplies the first week of classes with your own resources. Financial Aid funds may not be available the first week of school. You may want to contact the Eagle Pride Bookstore for available purchase plans.

Satisfactory Academic Progress

Federal Financial Aid regulations require financial aid recipients make satisfactory academic progress toward the completion of a degree. In order to be awarded and retain financial aid, recipients must comply with the following three satisfactory academic policy requirements. At the end of every semester, we evaluate the progress toward the degree in accordance to the following criteria.

1. Students must maintain acceptable academic standing as established by the Chadron State College. This pertains to the Academic Probation/Suspension policy. If you are placed on academic suspension, you are automatically suspended from future financial aid.
   
   • A student will be placed on Academic Probation if:
     • his/her CSC cumulative grade point average is below 2.00, or
     • as a first-year student, he/she earns less than a 1.00 in his/her initial semester at Chadron State College. The first year student will be allowed to continue for one additional semester on probation.
       The student's failure to bring his/her cumulative grade point average to a successful level will result in academic suspension from Chadron State College. Students on probation may be required to participate in activities designed to facilitate academic success.
   • A student will be suspended under the following conditions:
     • A student who is not a first-time, first-semester student and who earned less than a 1.00 cumulative grade point average will be academically suspended.
     • A student who has been placed on probation will be academically suspended from the college is his/her semester grade point average (GPA) falls below 2.50 and his/her cumulative GPA falls below the following scale:
       • After attempting 1-29 CSC semester hours: 1.25
       • After attempting 30-44 CSC semester hours: 1.50
       • After attempting 45-59 CSC semester hours: 1.76
       • After attempting 60+ CSC semester hours: 2.00
       The first academic suspension from Chadron State College is for one semester. The second (and subsequent) suspension from Chadron State College is for three years.
2. Students must successfully complete a certain number of attempted credit hours each semester based each on the financial aid status in which they are paid in order to maintain future eligibility. The following graph displays this relationship. This includes Summer Sessions.

   Undergraduates
   	New Hours Attempted	Hours Successfully Complete	Financial Aid SAP Status
   Full-Time	12 credits or more	At least 12	Good Standing
   	12 credits or more	At least 6	Warning
   	12 credits or more	Less than 6	Suspension
   3/4 Time	9 to 11 credits	At least 9	Good Standing
   	9 to 11 credits	At least 5	Warning
   	9 to 11 credits	Less than 5	Suspension
   1/2 Time	6 to 8 credits	At least 6	Good Standing
   	6 to 8 credits	At least 3	Warning
   	6 to 8 credits	Less than 3	Suspension

   Graduates
   	New Hours Attempted	Hours Successfully Complete	Financial Aid SAP Status
   Full-Time	9 credits or more	At least 9	Good Standing
   	9 credits or more	At least 6	Warning
   	9 credits or more	Less than 6	Suspension
   1/2 Time	6 to 8 credits	At least 6	Good Standing
   	6 to 8 credits	At least 3	Warning
   	6 to 8 credits	Less than 3	Suspension

   • Grades of A, B, C, D or Pass are successfully completed grades.
   • Grades of F, W, IP, AU, or I are unsuccessfully completed grades.
   • Preparation courses (developmental courses) required by Chadron State College are acceptable and qualify for financial aid.
   • Attempted credit hours are all credit hours attempted, including repeat courses and courses in which you withdrew.
   • Repeats, Correspondence courses with one-year completion (DIS 80), extended open enrollment courses, CLEP tests, professional development courses, or ALP courses do not qualify for financial aid eligibility.
   • Repeat courses are considered any courses enrolled in for a second or more times. They do not qualify for financial aid eligibility but they do count toward total attempted credit hours.
   • Students with grades of I or IP that have been successfully completed with a successful grade may request to the Financial Aid Office for a re-evaluation of their satisfactory academic progress status.
   • Undergraduate students enrolled in graduate courses that do not apply toward their undergraduate degree do not count as attempted or earned hours. Therefore these courses cannot be covered by financial aid.
   • Graduate students enrolled in undergraduate courses that do not apply toward their graduate degree do not count as attempted or earned hours. Therefore these courses cannot be covered by financial aid.
     
      
3. Students may receive financial aid toward their degree up to a maximum time frame The following maximum timeframes apply toward the particular program.

   1st Undergraduate Bachelors degree. Financial aid recipients may not exceed 187 attempted credit hours toward their first bachelor’s degree. Attempted hours are defined as all attempted credit hours in which students enroll that are reflected on students’ academic records. Transfer students attempted credit hours include all attempted undergraduate credit hours reflected on all academic transcripts from all previously attended institutions.

   Graduate and Specialist degrees. Financial aid recipients may not exceed 125% attempted credit hours toward either a graduate or specialist degree. Attempted hours is defined as all credit hours attempted toward the sought degree and that are reflected on students’ academic records. Transfer students attempted credit hours include all attempted graduate credit hours reflected on all transcripts from all previously attended institutions.

   2nd Undergraduate Bachelors degree. Financial aid recipients seeking a second bachelor’s degree are required to complete an evaluation through the appropriate records keeper in order to receive financial aid. Copies of the evaluation must be submitted to the Financial Aid Office for eligibility determination. Students seeking the second bachelor’s degree may not exceed 125% credit hours toward the second Bachelors degree.

   Endorsements/Additional majors. Students seeking to add an endorsement or additional major to their current degree are not eligible for financial aid as these academic criteria are not considered certificate or degree seeking.

   Transfer Credit: All attempted credit hours reflected on all transcripts from all previously attended institutions.

All students are notified in writing regarding their continued eligibility requirements or exhaustion of eligibility.

Financial Aid Warning

Students placed on financial aid warning remain eligible for most financial aid programs for their next period of enrollment. However, the next term of enrollment is the probationary period. During the probationary period, students are required to successfully complete 1) at least 12 new credit hours if paid as full time; or 2) at least 9 new credit hours if paid as ¾ time; or 3) at least 6 new credit hours if paid as ½ time or 4) at least 3 credit hours if paid as less than ½ time. Please reference #2 for definitions of successfully completed and courses that do not count towards attempted credit hours. Failure to successfully complete the attempted enrollment status while on probation will result in Financial Aid Suspension.

Financial Aid Suspension

Students placed on financial aid suspension are ineligible to receive financial aid for the next term of enrollment. To regain financial aid eligibility, students are required to successfully complete at least 50% of the enrollment status of the term, which resulted in financial aid suspension using their own resources.

Financial Aid Appeals

Students may appeal their situation if they believe extenuating circumstances interfered with their ability to maintain satisfactory academic progress. To request consideration for an appeal, students need to write a letter explaining their circumstances to the Financial Aid Office no later than the deadline date provided in the notification. Students are allowed to appeal only once. If  your appeal is approved you will be placed on Financial Aid Probation.

Extenuating Circumstances

Extenuating Circumstances may be injury or illness of a student or dependent of the student, death of a family member, family difficulties or interpersonal problems with friends.

Academic Suspension

Students placed on academic suspension are automatically placed on financial aid suspension. Students choosing to appeal their academic suspension MUST submit an appeal letter to the Financial Aid Office in addition to the Academic Suspension Appeals Committee.

Academic Amnesty

Students declaring academic amnesty for a semester in which financial aid was received and resulted in an academic or financial aid suspension is not appealable and students will need to meet the conditions of the Financial Aid Suspension to regain their financial aid eligibility.

All decisions made by the satisfactory academic progress appeals committee are final.

Federal Pell Grant

The amount of this grant is determined by using the Institutional Student Information Record (ISIR), Expected Family Contribution number, Federal Payment Schedule provided by the U.S. Department of Education. The Pell Grant award is based on your enrollment status (full time, 3/4 time, 1/2 time and less than 1/2 time) and the estimated cost of attendance at CSC. Be advised, dropping classes at 100% refund or failing to begin attending one or any of your classes may result in a Pell Grant overpayment. Students in overpayment status are ineligible for any financial aid until the overpayment is resolved. Accepted Pell Grant funds are credited directly to your student account.

Federal Supplemental Educational Priority Grant (SEOG)

The award amount of this grant is based upon your eligibility for the Federal Pell Grant, financial aid need, and the amount of funds available. Accepted FSEOG funds are credited directly to your student account.

Nebraska Opportunity Grant Program (NOG)

The award amount of this grant program is based upon your eligibility for the Federal Pell Grant, financial aid need, and the amount of funds available. As a recipient of this program, you must agree to use these funds for educational purposes only. By submitting your Statement of Understanding, you are agreeing to these terms as stated. Accepted funds are credited directly to your student account.

These grants are funded by the Federal Government through the Leveraging Educational Assistance Partnership Grants, by the State, and where applicable, other contributing partners.

Federal Work Study Program

The award amount of Federal Work Study is based upon financial aid need and availability of funds. The amount of the Work Study award is the maximum you may earn during the term(s) specified. The award is earned according to the number of hours you work satisfactorily.

Work Study position announcements are posted on the Human Resources web page at the beginning of each semester.

Your work study permit will be delivered electronically to you at your EagleMail account when school starts. You will need to print it and provide it to your supervisor.

Once you have found a position, your supervisor will need to submit your time sheet to the Payroll Office every two weeks. You will be responsible for recording your hours worked on your time sheet and then submitting it to your supervisor. You will receive a paycheck every two weeks for the hours worked in the pay period.

Federal Perkins Loan Program

The Perkins Loan is a low-interest (5%) loan for both undergraduate and graduate students with financial need. CSC serves as your lender. The loan is made with government funds with a share contributed by CSC.

Maximum you may borrow

The maximum undergraduate students are allowed to borrow annually is $4,000 and total aggregate maximum allowed for an undergraduate degree is $20,000. Graduate students are allowed to borrow annually the maximum of $6,000 and the aggregate total allowed to borrow toward the graduate degree is $40,000, which includes the amount borrowed as an undergraduate. CSC will report your outstanding Perkins loan balance annually to a national credit bureau from the time your Perkins loan is originated until the loan is paid in full.

Fees

The Perkins Loan does not have any fee requirements unless you skip a loan payment, make a late loan payment or make less than a full payment. In these cases, you may have to pay a late charge. If you fail to make payments numerous times, you might have to pay collection costs as well.

Right to Cancel

CSC will notify you in writing of your Right to Cancel your Perkins Loan within 30 days from the date it was credited to your student account. You will have 14 days after the date it was sent to notify CSC if you want to cancel all or a portion of your Perkins Loan.

Repayment

Repayment on the Perkins loan begins 9 months following the date you graduate, cease to be enrolled at least half-time (6 credit hours), or withdraw from CSC. This 9-month period is called your grace period and your Perkins loan does not accrue any interest during your grace period. At the end of your grace period, your repayment will begin and you will have up to 10 years to repay. Note the Perkins Loan Repayment chart for the approximate amount of monthly payment based on the size of debt, length of repayment and total interest charges.

Total Loan Amount	Number of Payments	Approximate Monthly Payment	Total Interest Charges	Total Repaid
$4,000	120	$42.43	$1,091.01	$5,091.01
5,000	120	53.03	1,364.03	6,364.03
15,000	120	159.10	4,091.00	19,091.73

Contact Information

Chadron State College
Business Office
1000 Main Street
Chadron, NE 69337
Phone # 308-432-6241

Postponing Repayment

Under certain conditions, you can receive a deferment or forbearance on your loan. Deferments allow you to postpone payments without interest accruing. Deferments are not automatic and you must apply through CSC. To request a deferment form, contact the CSC Business Office. If you do not qualify for a deferment, you may receive a forbearance for a limited period of time. The payments are either reduced or postponed; however, the interest does accrue during the forbearance period. To apply for forbearance, you must request in writing to Firstier Bank, P.O. Box 3295, Milwaukee, WI 53201-2740. Firstier Bank services the CSC Perkins Loans after students graduate, cease at least half-time enrollment or withdraw from CSC. You must continue to make your loan payments until you are notified that a deferment or a forbearance has been granted.

Loan Cancellation

The Perkins Loan can be canceled if the borrower dies or becomes totally and permanently disabled. This loan can also qualify for cancellation under certain conditions as noted below.

Cancellation Conditions	Amount Forgiven	Notes
Borrower’s total and permanent disability	100%
Full-time teacher in a designated elementary or secondary school serving students from low-income families	Up to 100%	Service qualifies for deferment also.
Full-time special education teacher	Up to 100%	Service qualifies for deferment also.
Full-time qualified professional provider of early intervention services for the disabled	Up to 100%	Service qualifies for deferment also.
Full-time teacher of math, science, foreign languages, bilingual education, or in other fields designated as teacher shortage areas	Up to 100%	Service qualifies for deferment also.
Full-time employee of a public or non-profit child or family services agency providing services to high risk children and their families from low-income communities	Up to 100%	Service qualifies for deferment also.
Full-time nurse or medical technician	Up to 100%	Service qualifies for deferment also.
Service as a full-time law enforcement or corrections officer	Up to 100%	Service qualifies for deferment also.
Full-time staff member in the education component of a Head Start Program	Up to 100%	Service qualifies for deferment also.
Vista or Peace Corps volunteer	Up to 70%	Service qualifies for deferment also.
Service in the U.S. Armed Forces	Up to 50%	in areas of hostilities or imminent danger Service qualifies for deferment also.
Bankruptcy (in rare cases)	Up to 100%	Cancellation is possibly only if the bankruptcy court rules that repayment would cause undue hardship
Closed school (before student could complete program of study)	100%	For loans received on or after January 1, 1986

It is the student’s responsibility to inform the school if any of the above conditions exist.

FEDERAL DIRECT LOAN PROGRAM

This loan program has a low fixed interest rate and is available for undergraduate and graduate students.

Maximum you may borrow

The maximum a student is allowed to borrow annually is based upon grade level and financial need. The grid below displays maximum annual loan limit per grade level. Grade level is based on the number of successfully completed credit hours.

Completed Credit hours	Grade Level	Annual Maximum per grade level
Undergraduate
0-29	Freshman	$3500
30-59	Sophomore	$4500
60-89	Junior	$5500
90-125	Senior	$5500
Graduate
1-18		$8500
19-36		$8500

This loan program has two parts, Subsidized and Unsubsidized. The subsidized is based on financial aid need and is interest free while you are in school. The unsubsidized is non-need based not to exceed the Cost of Attendance. The interest accrues while you are in school and you are responsible for the interest as it accrues. Although there are two parts to the program, the annual maximum pertains to the amount you are allowed to borrow between the subsidized and unsubsidized.You must sign a Master Promissory Note before any loan proceeds can be disbursed to you. If you are a previous borrower, a Master Promissory Note may already be on file. If you are borrowing for the first time at CSC, you will need to complete the Entrance Counseling requirements.

Fees

The Direct loans require a never exceeding 3% loan origination fee. Other fees may be assessed. Please read your promissory note carefully before signing.

Right to Cancel

CSC will notify you electronically of your Right to Cancel your Stafford/Direct Loan within 30 days from the date it was disbursed or credited to your student account. You will have 14 days after the date it was sent to notify CSC if you want to cancel all or a portion of your Stafford/Direct Loan.

Repayment

For both subsidized and unsubsidized, repayment on principle and interest begins 6 months after you leave school or drop below half time. This 6-month period is called your grace period and no payments are expected during the grace period. However, be advised, interest on the unsubsidized loan will accrue during your grace period. Again, you have the option to pay this interest as it accrues or you may chose to let it accrue and then it is capitalized. There are several repayment options available and you are encouraged to review all repayments options to determine which one best suits you. More information on repayment can be found under the Exit Counseling section of our Web site.