Disbursement Information: Summer 2014

Financial Aid will be applied toward your tuition, fees, books and other charges on July after 5 p.m. if you have met all outstanding requirements.  Login to your ‘ Bobcat Web Account’  to check ‘My Overall Status’:  www.cocc.edu.

REFUNDS: 
Check your ‘ Bobcat Web Account’ account on Wednesday, July 9 to see if a “Refund(s) sent to Processor” is posted. For summer term, all refunds will be sent to students as a paper check to the current mailing address on file.  Please allow one week processing time for delivery.

BALANCE DUE: 
Pay any balance due after financial aid has been disbursed to COCC by Friday, July 11 to avoid late fees.  You may view your balance online through your ‘ Bobcat Web Account’.  You are responsible for all charges not covered by financial aid funds. A late fee of $30 will be imposed for outstanding balances not paid by July 14.  Additional late fees will be assessed weekly to a maximum of $90. 

DISBURSEMENT: 
The amount of financial aid you receive depends on the number of credit hours in which you are enrolled on July 3 after 5 p.m and may be different from your current awarded offer amount.  Classes must be taken for credit, not audited, to count toward financial aid.  Awarded offer amounts defaults to full-time (12 or more credit hours) but will be adjusted during the second week of the term based on your enrollment.  

Short term classes:
Financial aid includes your enrollment in late starting classes and financial aid may not disburse until classes begin.  Dropping a late starting or short term class within the 100% refund period, not attending or having a class cancelled may result in a recalculation to your financial aid.  Adjustments to financial aid for increased enrollment may be made only if you: are waitlisted in late starting classes on July 3; and add the class with in the 100% refund period; and notify Financial Aid to be considered for any financial aid adjustment.   

Disbursement schedule for less than full time enrollment
  1-5 credits 6-8 credits 9-11 credits
Pell Grants* 25% 50% 75%
Oregon Opportunity Grant not eligible  50%** 50%**
Supplemental Educational Opportunity Grant 100% 100%  100% 
COCC Foundation Scholarship not eligible 50%  75% 
COCC Honors Scholarship not eligible not eligible  not eligible 
Direct Stafford Loans not eligible 100% 100%

*Depending on enrollment, expected family contributions of 3401 or higher may not calculate with the above percentages.

BOOKSTORE CREDITS:
To be eligible for a bookstore credit, all outstanding requirements must be satisfied, your award must be accepted and you must be enrolled.  You may be able to purchase books and supplies on credit at the COCC Bookstore starting June 2.  Check your ‘ Bobcat Web Account’ for Active ‘Messages’ to see if you have sufficient financial aid for a bookstore credit.  If eligible, you may charge books at the COCC Bookstore until Thursday, July 3.  Books and supplies charged at the Bookstore will be deducted along with your tuition and fees from your total financial aid award for the term.  The maximum bookstore credit available is $600 for a term depending on financial aid eligibility. 

LOANS:
If you are a new Direct Loan borrower at COCC, you are required to complete entrance loan counseling and sign your master promissory note before loans will be processed.  Check online using your ‘ Bobcat Web Account’ for any outstanding requirements.  If you are a new student and receiving loans for the first time at COCC, your loan disbursement must be delayed 30 days from the start of class.  Your loans will be applied July 23.  If you are only attending one term during the award year, your loan may be divided into two disbursements.  If you have a one term loan(s), your loans(s) may be divided into two disbursments.  Loans applied after July 3 require that you also be enrolled in at least 6 credits on the day the loans are applied.  If you do not attend a term within the academic year, failure to notify the Financial Aid Office will delay disbursement of future loan funds.

Cancelation:
You have the right to decline a loan disbursement or to cancel your loan entirely. Notify the Financial Aid Office if you wish to cancel a loan disbursement by sending an email to  coccfinaid@cocc.edu.  If your enrollment drops below 6 credits at any time during the term,  your loan grace period will begin and exit counseling will be mandatory. 

FEDERAL WORK-STUDY:
You may check current job postings online at: https://jobs.cocc.eduWork-Study is limited.  Work-study awards may be reduced due to fund availability and outside resources.  Awards are projected maximum earnings only.  COCC does not guarantee positions to all students awarded work-study.  For more information visit:   Work-Study or contact Deborah at 541-383-7263.

REPAYMENT OF FINANCIAL AID:
Students earn their federal financial aid by attending class.  If you are not enrolled long enough to earn all of your aid, the unearned portion must be repaid.  Completely withdrawing, auditing or ceasing to attend may result in financial aid repayment and may affect future financial aid eligibility.  Incomplete (I) grades may also result in financial aid repayment and affect your completion rate.  Click here to review the Repayment of Financial Aid policy.

SATISFACTORY ACADEMIC PROGRESS:
To maintain eligibility for financial aid, you must show satisfactory academic progress toward your educational program.  Failure to maintain a cumulative GPA of 2.0 and a completion rate of 66.67% or better may result in denial of financial aid eligibility and is limited to a maximum number of calculated credits even if a certificate/degree is not earned.  As soon as it is clear that a student cannot graduate within the maximum credit limit, they become ineligible for aid.  Review the complete Satisfactory Academic Progress policy here.

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