Dual Advisement

The Federal Direct Unsubsidized Stafford Loan is not need-based and the borrower is responsible for all interest. A dependent first-year student may be eligible to borrow up to $5500 less any subsidized amounts received in the same period. A first-year independent student may be eligible to receive up to $9500 less any subsidized amounts received for the same period. Students must be attending at least half-time (6 credits). The interest rate is fixed and set annually for new borrowers. Interest charges begin immediately upon disbursement.

The Direct Plus loan is not need-based and is designed for parents of dependent undergraduate students who must be enrolled at least half-time (6 credits). The maximum amount a parent may borrow is the cost of attendance minus any other financial aid the student receives. The interest rate is fixed and set annually for new borrowers. Interest charges begin immediately upon disbursement. Additionally, PLUS loans require the parent to apply and undergo a credit check facilitated by the Department of Education. Colby Community College Financial Aid does not make the final eligibility determination.

Satisfactory Academic Progress and Financial Aid (SAP)

The standards of Satisfactory Academic Progress measure a student’s performance in three areas: cumulative completion rate, cumulative grade point average, and maximum time frame. Satisfactory Academic Progress will be evaluated at the end of each payment period and upon transfer from another institution. Notification of failure to maintain satisfactory academic progress will be sent via email to the student’s Trojan email account and/or mailed to the student’s permanent address.

Veterans

Veterans applying to Colby Community College who plan to use their VA Education Benefits should apply for benefits at www.ebenefits.va.gov. Veterans should meet with the School Certifying Officer located in the Registrar’s Office where they will be given the required campus-based documents to begin the certification process. Per VA and CCC standards satisfactory academic progress will be monitored using the same criteria approved for all financial assistance programs at CCC. Determination of eligibility is made by VA not the school.

Cumulative Completion Rate

Cumulative completion rate is calculated by dividing the number of cumulative credit hours earned by the number of cumulative credit hours attempted. Students must earn 67% of the cumulative credit hours attempted.