Financial Aid

Although the cost of a college education at Central Wyoming College is relatively low, many students need and receive financial aid. During recent years, approximately 68 percent of CWC’s degree-seeking students received some form of assistance. Financial aid is available and applicants for admission are encouraged to apply. The Financial Aid Office welcomes inquiries about the wide range of financial aid opportunities available to CWC students.

Students’ Rights and Responsibilities

Central Wyoming College makes every effort to ensure that qualified students will not be denied a college education because they are unable to meet the expenses of attendance.

Student applicants for federal assistance have the right to ask:

What financial assistance is available at Central Wyoming College;
What the deadlines are for submitting applications for financial aid;
How eligibility for financial aid is determined;
What portion of the financial aid received is “earned” and what portion is “unearned;” (See Return of Title IV Policy)
What interest rate is carried by loan awards, what the total repayable amount is, what the pay back procedures are, in what length of time the loan must be repaid, and when the repayment period begins;
What CWC’s requirements are with regard to maintenance of satisfactory progress/good standing and what appeal procedures are available;
What the current comprehensive cost of attendance is;
What CWC’s Return of Title IV Funds Policy is;
Where to obtain descriptions of the college’s academic programs and facilities;
Under what type of accreditation or licenses the institution operates; and
What physical access and special services are available for students with disabilities.

Students who receive federal financial assistance at Central Wyoming College have a responsibility to:

Apply annually for financial aid, complete applications accurately and submit them on time to the appropriate agency. Intentional misreporting of information is considered a criminal offense subject to penalties under the U.S. Criminal Code;
Return to the Financial Aid Office all required forms, documentation, verification, corrections and/or new information in a timely fashion;
Accurately complete a FAFSA in order to be eligible for any institutional aid for that academic year;
Read, understand and accept responsibility for all forms and agreements signed and keep copies of every item signed;
Become knowledgeable of the terms and conditions governing all assistance received;
Maintain satisfactory progress and good academic standing as defined by the college;
Know and comply with the institution’s Return of Title IV Funds Policy; and
Be familiar with CWC’s requirements with regard to enrollment status and degree candidacy.

Students should also be aware of the following information regarding the Privacy Act:

Under the Family Education Rights and Privacy Act (FERPA) of 1974, students are entitled to review their own financial aid records, files and data. Requests to review files must be made in writing to the Financial Aid Office.
The use of a student’s Social Security account number is protected under FERPA. For some programs, disclosure of the Social Security account number is required as a condition of participation. As an identifier, the Social Security account number is used in such program activities as determining program eligibility, certifying school attendance and student status and processing and verifying grant payments.

Basic Eligibility Requirements for Need-Based Aid

Students who wish to be considered for need-based financial assistance must, in addition to completing the financial aid application process, satisfy the following requirements:

Be enrolled as a degree-seeking student in an eligible program leading to a BAS, AA, AS, AAS or Certificate I;
Be a United States citizen or an eligible non-citizen;
Have a high school diploma, a GED, or a high school equivalency certificate;
Maintain satisfactory progress toward completing a BAS, AA, AS or AAS degree or certificate;
Not be in default on a Federal Perkins, Federal Stafford, Federal PLUS or Federal Direct Loan at any institution;
Not owe a repayment on a Federal PELL, ACG, FSEOG, or LEAP; and
Have a signed statement of draft compliance and educational purpose.

Federal Financial aid which is based upon student need is available in three forms: grants, Federal Direct Loan Programs, and Federal Work Study.

Grants. Federal Pell Grant (formerly BEOG) and Federal Supplemental Education Opportunity Grant (FSEOG)
Loans. Federal Subsidized Direct Loan, Federal Unsubsidized Direct Loan and Parent PLUS Direct Loan for undergraduate students.
Employment. Federal Work-Study Program (FWS), Central Wyoming College Student Part-Time Employment (SPT).

Student Loan Debt Management

Students who are considering a loan as part of their financial aid package owe it to themselves to become aware of the implications borrowing money to attend college can have on their future financial situation.

First-time borrowers at CWC are required to complete online Loan Entrance Counseling prior to receipt of their first disbursement. Loan Entrance Counseling is available on the Department of Education’s website: www.studentloans.gov Entrance counseling provides the following information:

definitions and differences among all student loan programs
explanation on how the student’s total loan eligibility was calculated
applicable grace period allowed along with explanation of deferments and forbearances offered
explanation and definition of default and its consequences
1. liability for expenses incurred for collection
2. damaged credit rating for at least seven years
3. loss of deferment options
4. possible seizure of federal and state income tax refunds
5. possible garnishment of wages
6. loss of eligibility for further Federal Title IV student assistance
example of student loan repayment schedule
loan consolidation information
estimated average entry level salaries for various occupations
borrower’s responsibility to repay his/her loan and to notify lenders of any change of name, address, telephone number or Social Security number
how to access and retrieve information from the National Student Loan Data System

All students who borrowed at any time during the current academic year will be required to complete a Loan Exit Counseling session prior to the end of the academic year. This process provides students with information regarding their rights, responsibilities and obligations to the student loan program.

Printed literature on debt management is available from the Financial Aid Office upon request.

Financial Aid Process

This process should be completed by the Financial Aid Priority deadline of April 15 to ensure full consideration for all available need-based aid. Students who fail to complete the process at least one month prior to the beginning of each academic term should plan to bring sufficient funds to cover tuition, fees, books and supplies, as well as living expenses for at least the first two months of the term.

If you do not already have an FSA ID, apply for one at the FSA ID site at https://studentaid.ed.gov/npas/index.htm. You need a FSA ID to electronically sign your FAFSA (Federal Application for Student Aid). If you are a dependent student (under the age of 24), your parents will need to apply for an FSA ID also to electronically sign your FAFSA.
Complete and submit the Free Application for Federal Student Aid (FAFSA) on line at www.fafsa.ed.gov. Processing generally requires from four to six weeks.
Students receive a copy of the Student Aid Report (SAR) upon completion of processing. Students should check the SAR for accuracy and forward corrections to the CWC Financial Aid Office.
The Federal Department of Education requires institutions to verify approximately 30 percent of their federal aid applicants, most of which are randomly selected by the Department of Education. Students chosen for verification are required to complete the CWC Financial Aid Verification forms online at www.cwc.edu and request a tax transcript from the IRS and forward to the Financial Aid Office. Parents of dependent students are required to also request a tax transcript from the IRS if the student is selected for verification.
Complete the CWC Admission Application on line at www.cwc.edu.
Request an official copy of your high school transcript with graduation date, GED, or high school equivalency certificate; be sent directly to Student Records Office. (An official high school transcript is not required for any student who already has a bachelor’s degree.)
Request an official copy of all previously attended college transcripts be sent directly to the Student Records Office.
Review the Financial Aid Handbook found at www.cwc.edu, "Pay for College", "Financial Aid Forms".

Students will not be considered for financial aid until all admission and financial aid application requirements have been satisfied.

Central Wyoming College endorses the principle that most aid should be granted to students based upon financial need and that students and their parents should finance the cost of a college education to the degree they are able. Financial need is determined on the following basis:

Establish the cost to attend CWC (includes tuition and fees, books and supplies, room and board, transportation and miscellaneous personal expenses);
Subtract the family contribution (determined by submitting the FAFSA on the basis of federally established guidelines) and;
Subtract Pell Grant eligibility, if any;
Subtract non need-based aid received (includes institutional and private donor scholarships, WIA, BIA, DVR benefits received and any other aid forwarded to the college to be disbursed to the student);
Result equals unmet need (students are eligible to receive up to 100 percent of this amount through campus-based, federally-funded programs subject to the availability of funds).

Packaging Policy

Financial aid shall be awarded using the following packaging concept. All applicants who complete the financial aid application process shall be awarded amounts from the following funds and in the following order subject to fund availability and determined student unmet need.

Establish unmet need (see step 5 above);
Subtract Federal Supplemental Education Opportunity Grant (FSEOG) based on a $200 minimum, $800 maximum award;
Subtract Federal Work Study ($750 minimum award, $3,000 maximum award. However, students may request to increase the $3,000 max set at packaging, if they have remaining unmet need);
Subtract Federal Direct Subsidized Loan (maximum of $3,500 for Freshmen, $4,500 for Sophomores, $5,500 for Juniors (and up), or balance of unmet need, application required).

A financial aid award letter is mailed by July 1 to eligible students who complete the application process by April 15. At this time students have the option to decline or accept any or all awards offered. The award letter must be completed, signed, and returned within two weeks to ensure all applicable funds are ready for disbursement by the beginning of the fall semester.

Financial Aid Disbursement

For the fall and spring semesters, all student financial aid consisting of scholarships, Non-Federal funds, Federal Grants, Federal Direct Loans, and State Loan programs will be disbursed approximately one month into the semester. Federal student aid awarded for the summer session is disbursed in full in the 3rd week for enrollment over a 10-week term or in the third week for enrollment over a 5-week term. Federal Work-Study monies are disbursed during the award period as they are earned on the last working day of each month.

Charges incurred by students for tuition, fees, on-campus room and board, books and emergency student loans are deducted from their financial aid awards prior to the release of funds to the students.