This section provides essential details about financial aid, including important facts, award conditions, and glossary terms. Understanding these aspects will help you manage your aid effectively and stay informed about your responsibilities. Explore the sections below to get a clear picture of how financial aid works and what you need to do to keep your aid in good standing.

Understanding “Financial Need”

Financial aid is any grant, scholarship, loan or paid employment offered for the purpose of helping a student meet education-related expenses.  The amounts and types of financial aid that students receive are determined through federal, state and local guidelines, and are offered to students in combinations or “packages” designed to fit applicants’ financial needs.

What, exactly, is Financial Need?

Basically, it is the amount representing the difference between a family’s expected family contribution, as determined by the Free Application for Federal Student Aid (FAFSA) and a student’s cost of attendance. Chesapeake College expects that the student and his or her guardian(s) will contribute to the fullest of their ability from income, assets and other resources in meeting college expenses.

Your college first determines whether you have financial need by using this simple formula:

Cost of Attendance (COA) – Expected Family Contribution (EFC) = Financial Need

Chesapeake College takes pride in offering a wide array of grant and scholarship aid. The Net Price Calculator will estimate how much grant aid you may receive based on certain information you are asked to provide. This calculation is only an estimate.We prioritize students with the greatest financial need for federal aid programs, given our limited budget. Chesapeake College does not participate in the Direct Loan program, so we encourage all students to explore all available financial aid options to maximize their support.

Conditions of Awards & Definitions

Students must make satisfactory academic progress in order to receive funds from the Federal Pell Grant, Supplemental Educational Opportunity Grant, Perkins Loan, College Work-Study Programs, and the state and institutional aid programs. Awards will be withdrawn from students who do not maintain satisfactory academic progress. Institutional scholarship programs require a student to maintain a 2.5 cumulative grade point average unless noted otherwise.

An academic year is defined as 29 credit hours. Remedial credits can be included.

Students must report changes in financial status (decreases in income, benefits, etc.) to the Office of Financial Aid. The student’s financial need may be recalculated based on the change(s), and adjustments to financial aid packages will be made if necessary.

Students may only be degree-seeking and receiving financial aid resources at one college. The United States Department of Education will notify Chesapeake College if a student is enrolled at two colleges within the same semester and awarded financial aid at both colleges. Once notified, we will rescind ALL aid awarded and the student will be responsible for their semester charges.

Students convicted of processing or selling illegal drugs while receiving federal aid will lose eligibility for federal financial assistance until certain conditions are met. For more information, contact Federal Student Aid Processing at 1-800-433-3243.

Students will not be eligible for Federal Pell Grants beyond 12 semesters or equivalent as determined by federal regulation. Federal regulations will provide fractional equivalents for terms in which a student is enrolled less than full-time.

Financial aid awards may be adjusted when students change their enrollment status (e.g. from full-time to three-quarter or half time). In some instances, these students may be required to repay a portion of the aid received. Students must notify the Financial Aid Office of all changes in enrollment status. Students reported as never attending class will have their aid rescinded. Students must register for all sessions within a term such as “Fall Interim” during the normal registration process prior to the start of the regular term.

Students receiving financial aid are required to accept awards to pay their term bills. They are required to do so in Self Service through their MyCampus portal. Failure to properly accept your awards will result in the student’s course schedule deletion and aid package being rescinded.

All students should understand how to manage money and credit to make informed decisions now and in the future. For more information, visit our financial literacy webpage.

Financial aid recipients with sufficient aid who have registered and accepted their awards via self-service will have their course registration secured. Disbursements take place later in the semester.

Students awarded scholarships from outside the institution must report these awards to the Financial Aid Office. If a student’s direct costs have been met, the award package may be reduced.

Students who receive funds in excess of their financial need are over-awarded. The amount of the over-award must be repaid, regardless of the origin of the error, before further federal financial assistance may be received.

Students are only eligible for Financial Aid resources for courses previously dropped or failed twice and courses passed with a D grade or better only once.

Financial aid will only pay for a course taken twice. Students repeating a course for the third time regardless of the grade will have their aid awarded based on the remaining eligible courses enrolled.

Students are eligible to receive aid for repeated course work IF that previous course work was not paid for with Title IV aid (Federal Pell Grant, Federal SEOG and Federal Perkins Loan)

Financial aid is prohibited for repeat courses where the student received an “R” grade.

Students who do not have a high school diploma, or an equivalent such as a GED, and who did not complete secondary school in a homeschool setting are not eligible for Title IV funds.

Students who are receiving financial aid must use their student identification number when making inquiries to the Financial Aid office and when purchasing books from the College’s Bookstore.

In the event that a student receives multiple tuition scholarships, the institutional tuition scholarship will be re-awarded to another student. This is to ensure that a maximum number of Chesapeake students are being considered for such scholarships. Tuition scholarships will only be paid at the in-county rate. In the event a student’s residency is determined to be out-out county/state, we reserve the right to reduce or rescind the scholarship.

Students receiving financial aid MUST attend class regularly. Once notified of non-attendance in one or more classes, the Financial Aid Office will RESCIND ALL aid offered/accepted until the student provides proof of attendance.

Students selected for verification by the United States Department of Education or Chesapeake College, must provide all necessary financial documents before any financial aid will be disbursed. Failure to comply may result in the student being responsible for all institutional charges incurred for the term.

Federal financial aid recipients who withdraw completely from the term will be subject to regulations governing the return of federal funds. Federal funds will be prorated using software provided by the United States Department of Education. Students owing a refund will not be permitted to register for future terms until the balance is paid in full. Attendance will be monitored and unofficial withdrawals will be subject to the same federal regulations. Students reported as never attending class will have their entire aid package rescinded. Students will be responsible for all institutional charges incurred for the term.

Important Considerations

It is important that you select a degree or certificate program that is eligible for federal financial aid funding (programs that are less than six months in duration, and/or do not lead to a certificate or degree are not eligible programs).

Students are not permitted to receive financial aid resources for courses that are not required for their declared major at Chesapeake College.

Enrollment status is important, too. All federal financial aid requires a student to be enrolled in six or more credit/load hours, with the exception of the Federal Pell Grant. You may receive Federal Pell Grant enrolling in three to five credit/load hours based on your eligibility. There are numerous institutional scholarships that allow for less than half-time status also. The credit/load hours defines enrollment status as follows:

  • Full-time: 12 or more semester hours
  • Three-quarter time: 9 to 11 semester hours
  • Half-time: 6 to 8 semester hours
  • Less than half-time: 3 to 5 semester hours

If you do not have a high school diploma or GED certificate, you are not eligible for federal, state, and institutional aid. Once you complete your high school diploma or GED you can apply for aid.

You may be required to provide federal tax transcripts and other documentation to complete your file. If additional documentation is required, you will be sent a status email regarding outstanding documents. . You will also need to keep updated on your financial aid file in Self-Service through your MyCampus portal. Your financial aid file will not be considered for any aid programs until all documentation is received.

All award offers are based on full-time enrollment, however you are not required to enroll full-time for financial aid resources. You are encouraged to enroll in courses that you will have success in. Contact the Academic Advising Office to make an appointment to meet with one of our academic advisors at [email protected].