Financial Aid Policies
Financial aid is required to abide by Federal and State regulations when awarding and monitoring financial aid. The chief policies which need to be explained to students and parents are attached in this section. These include Financial Aid Satisfactory Academic Progress Policy and the Return of Title IV Funds Policy.
Federal regulations require students maintain Satisfactory Academic Progress (SAP) to remain eligible to receive Federal financial assistance. This policy establishes the minimum qualitative and quantitative standards students must meet to maintain Satisfactory Academic Progress for Financial Aid.
Federal Regulations, 34 CFR 668.22 require schools to calculate the amount of Federal financial aid earned by students who withdraw from an institution. This calculation, R2T4, must be performed for students who follow the school's official withdrawal procedures and those who leave without official notification, i.e. "unofficial" withdrawals.
The Financial Aid Office at California Maritime abides by the National Association of Student Financial Aid Administrator's federal code of conduct.