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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 75 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:

  1. What financial assistance is available at Central Wyoming College;
  2. What the deadlines are for submitting applications for financial aid;
  3. How eligibility for financial aid is determined;
  4. What portion of the financial aid received is “earned” and what portion is “unearned;” (See Return of Title IV Policy)
  5. Students will be able to find the following information at www.studentaid.gov: interest rate carried by loan awards, the total payable amount, what the pay back procedures are, the length of time the loan must be repaid, and when the repayment period begins;
  6. What CWC’s requirements are with regard to maintenance of satisfactory academic progress/and satisfactory academic standing. Also, the appeal/petition process;
  7. What the current comprehensive cost of attendance is;
  8. What CWC’s Return of Title IV Funds Policy is;
  9. Where to obtain descriptions of the college’s academic programs and facilities;
  10. Under what type of accreditation or licenses the institution operates; and
  11. 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:

  1. 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;
  2. Return to the Financial Aid Office all required forms, documentation, verification documents, and/or new requested information in a timely fashion;
  3. Accurately complete a FAFSA in order to be eligible for any institutional aid for that academic year;
  4. Read, understand and accept responsibility for all forms and agreements signed and keep copies of every item signed;
  5. Become knowledgeable of the terms and conditions governing all assistance received;
  6. Maintain satisfactory progress and good academic standing as defined by the college;
  7. Know and comply with the institution’s Return of Title IV Funds Policy; and
  8. 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:

  1. 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. Requests will be processed within three business days.
  2. 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 Federal Student Aid

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

  1. Be enrolled as a degree-seeking student in an eligible program leading to a BAS, AA, AS, AAS or Certificate I;
  2. Be a United States citizen or an eligible non-citizen;
  3. Have a high school diploma, GED, or high school equivalency certificate;
  4. Maintain satisfactory academic progress toward completing a BAS, AA, AS or AAS degree or Certificate;
  5. Not be in default on a Federal Perkins, Federal Stafford, Federal PLUS or Federal Direct Loan at any institution;
  6. Not owe a repayment on a Federal PELL, ACG, FSEOG, or LEAP; and TEACH grant.

Federal Financial aid which is based upon student eligibility is available in three forms: Federal Grants, Federal Direct Loans, and Federal Work Study.

  1. Grants: Federal Pell Grant, TEACH Grant and Federal Supplemental Education Opportunity Grant (FSEOG)
  2. Loans: Federal Direct Subsidized Loan, Federal Direct Unsubsidized Loan and Direct Parent PLUS Loan for undergraduate students.
  3. Employment: Federal Work-Study Program (FWS).

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 loan borrowers at CWC and transfer students are required to complete the online Loan Entrance Counseling and Master Promissory Note prior to receipt of their first disbursement. Loan Entrance Counseling and Master Promissory Note are available on the Department of Education’s website: www.studentaid.gov. Entrance counseling provides the following information:

  1. definitions and differences among all student loan programs
  2. explanation on how the student’s total loan eligibility was calculated
  3. applicable grace period allowed along with explanation of deferments and forbearances offered
  4. explanation and definition of default and its consequences
    1. liability for expenses incurred for collection
    2. loss of deferment options
    3. possible seizure of federal and state income tax refunds
    4. possible garnishment of wages
    5. loss of eligibility for further Federal Title IV student assistance
  5. example of student loan repayment schedule
  6. loan consolidation information
  7. borrower’s responsibility to repay his/her loan and to notify lenders of any change of name, address, telephone number or Social Security number
  8. 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 and have dropped below half-time status (6-8 credits) or who graduated will be required to complete a Loan Exit Counseling at www.studentaid.gov within 30 days of dropping below half-time status, withdrawing, or graduating. This process provides students with information regarding their repayment options, rights, responsibilities and obligations to the student loan program.

Financial Aid Process

This process should be completed by the Financial Aid Priority deadline of March 1st to ensure full consideration for all available 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.

  1. Complete the CWC Admission Application online at www.cwc.edu
  2. If you do not already have an FSA ID, create one at the FSA ID site at https://studentaid.gov/fsa-id/create-account/launch?continueTo=fafsa. You need an FSA ID to electronically sign your FAFSA (Free Application for Federal Student Aid). If you are a dependent student (per the federal definition), your parents will need to create an FSA ID also to electronically sign your FAFSA.
  3. Complete and submit the Free Application for Federal Student Aid (FAFSA) on line at www.studentaid.gov. Processing may take up to six weeks.
  4. Students may review or download a copy of their Student Aid Report (SAR) upon completion of the FAFSA being processed. Students should check the SAR for accuracy. If corrections are needed the student should log back into the FAFSA and update it, or come to the CWC Financial Aid Office to receive assistance.
  5. The Federal Department of Education requires institutions verify approximately 18 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 documents listed on their CWC student portal (MyCentral). Students may be required to submit a signed copy of the 1040 tax return with all schedules or request a tax transcript from the IRS and forward it to the Financial Aid Office. Parent(s) of dependent students may also be required to submit a signed copy of the 1040 tax return along iwth all schedules or request a tax transcript from the IRS at www.irs.gov, if the student is selected for verification.
  6. 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. (If a student has already completed at least two  years of post-secondary education, an official high school transcript is not required).
  7. Request an official copy of all previously attended college transcripts to be sent directly to the Student Records Office.
  8. 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 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:

  1. Establish the cost to attend CWC (includes tuition and fees, books, housing, food, transportation, and miscellaneous personal expenses);
  2. Subtract the effective/estimated family contribution (EFC determined by submitting the FAFSA on the basis of federally established guidelines) and;
  3. Subtract Pell Grant eligibility, if any;
  4. 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);
  5. Result equals any remaining unmet need and unmet cost (students are eligible to receive aid up to 100 percent of their cost of attendance 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 (FAFSA) shall be awarded amounts from the following funds as applicable - and in the following order subject to fund availability and determined by student aid eligibility.

  1. Pell grants determined by Estimated Family Contribution, enrollment, and Cost of  Attendance (COA);
  2. Federal Supplemental Education Opportunity Grant (FSEOG) $400 minimum, $800 maximum award based on eligibility and enrollment. Priority is to be given to students with a zero estimated family contribution as determined from the FAFSA;
  3. Federal Work Study ($750 minimum award, $3,000 maximum award. However, students may request to increase the $3,000 max, if they have remaining unmet need). The student must notify the financial aid office they would like to be considered for Federal Work Study;
  4. 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).
  5. Federal Direct Additional Unsubsidized Loan (maximum of $2,000 per year for dependent students, $6,000 maximum per year for independent students. Students at the Junior or Senior level may qualify for up to $7,000 per year).

A financial aid offer letter notification is emailed by July 1 to eligible students who complete the application process by March 1st. Students have the option to decline or accept any or all awards offered. Award offers will be accepted or declined on the student portal (MyCentral). The offer letter must also be reviewed and signed on the student portal (MyCentral) each academic year. This helps to ensure all applicable funds will be ready for disbursement by the disbursement dates published each academic year.

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 attendance. If a student has a late start course funds are not disbursed until the first day of class. Students receiving Direct Student Loans will not have funds released until they are enrolled in six credit hours. Federal Work-Study monies are earned from working and therefore disbursed during the award period 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 excess funds to the students.