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.
Financial Aid Satisfactory Academic Progress 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.
Return of Title IV Funds due to withdrawal from the Academy
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.
Terms and Conditions of your Financial Aid at Cal Maritime
Repeated Coursework Policy
- A student may receive federal financial aid when repeating a course that was previously failed.
- A student may receive federal financial aid to repeat a previously passed course (with a D- or better, including CR grade) one additional time, whether or not a student received federal financial aid for an earlier enrollment of the course.
- Once a student has completed any course twice and earned a passing grade (with a D- or better, including CR grade) they are no longer eligible to receive federal financial aid for that course.
- If a student retakes a course that is no longer eligible for financial aid, the units are excluded from the total enrollment and the student’s financial aid will be adjusted to exclude these units.
- All repeated courses are counted as attempted units for Financial Aid Satisfactory Academic Progress.
|Course Examples||1st Class Attempt||2nd Class Attempt||3rd Class Attempt||Would 3rd Attempt be Eligible for Federal Financial Aid?|
|Example 1||F||D||Enrolled||Yes (student passed course one time, eligible for 3rd attempt).|
|Example 2||D||C||Enrolled||No (student passed course twice, not eligible for 3rd attempt).|
|Example 3||D||F||Enrolled||No (student passed course first attempt, on the second attempt they failed, no longer eligible for federal financial aid on 3rd attempt).|
|Example 4||W||F||Enrolled||Yes (student has not yet passed course, the 3rd attempt is eligible for federal financial aid).|
|Example 5||F||F||Enrolled||Yes (student has not yet passed course, the 3rd attempt is eligible for federal financial aid).|
Financial Aid Code of Conduct
The Financial Aid Office at California Maritime abides by the National Association of Student Financial Aid Administrator's federal code of conduct.