Financial Aid Information for Summer 2014
Students intending to receive federal financial aid for summer enrollment MUST register for all summer classes during the Summer I enrollment period. This includes all classes for Summer I, Summer II, and Summer III. Any classes added after this date will not be considered eligible for Financial Aid.
Students enrolled in classes for Summer I and/or Summer II, will NOT be able to receive financial aid for any Summer III class added after June 2, 2014. Financial aid regulations require enrollment for all summer terms to be established by the census date (June 2, 2014) which is the date the Financial Aid office determines aid eligibility.
Students pre-registered in Summer I, II, and III classes will have all summer charges paid with Summer I and II aid.
Summer I / Summer II aid eligibility will be applied to students accounts on June 10, 2014. These funds will be applied to tuition, fee, and book charges on the student account for Summer I, Summer II, and/or Summer III charges. If there are excess funds available, they will be refunded on June 13, 2014.
Some students who are eligible for a Financial Aid refund check may not receive their refund until the Summer III refund date, as all summer charges will be paid out of Summer I and II aid. Most students should not expect a refund until July 11, 2014.
Students should monitor their student account and the COTO web page for complete information on Payment/Refund Information.
Student Pell Grant awards are based on remaining eligibility for the 2013-2014 award year. This award may be adjusted downward based on student enrollment.
Only students who have not exhausted their annual eligibility limit between the Fall and Spring semesters will be eligible for Pell Grant during the Summer 2014 semester.
In order to be eligible for loans, students must be enrolled in at least 6 credit hours.
To receive loans, students must have a valid Master Promissory Note and Direct Loan Entrance Counseling on file with the Financial Aid Office
If a student borrowed loans during the Fall 2013 and/or Spring 2014 semesters and did not receive his/her maximum annual loan limit amount, he/she may be eligible to receive Direct Student Loans during the Summer 2014 semester.
Loan eligibility cannot be determined until a student has preregistered for all summer classes. Summer only loans must be disbursed in two payments: June 13 2014 and July 11, 2014. All charges will be deducted from the first loan disbursement.
SATISFACTORY ACADEMIC PROGRESS
If a student was awarded summer financial aid and did not meet the Satisfactory Academic Progress Policy standards after grades have been reported for the Spring 2014 semester, summer aid will be cancelled and the student will need to make alternative arrangements to pay for his/her 2014 Summer semester tuition and fees.
Satisfactory Academic Progress will be reviewed after the Summer 2014 terms. The Satisfactory Academic Progress policy can be found on the financial aid web page located at www.coto.edu.
Please refer to the COTO Financial Aid web page and COTO Catalog for additional information.
*Visiting/summer transient students are not eligible for financial aid.