Financial Aid Handbook
First-year and Transfer Students Award Notice
Your financial aid award letter provides you with information about the direct cost to attend Coe College and is your official notification of the financial aid that may be available through the Office of Financial Aid at Coe College. Award letters will be sent to your attention at the permanent home address as provided to the Coe College Office of Admission.
The award letter, while not a commitment of funds or a binding contract, is an initial indication of funds available from federal, state, institutional, and outside funding sources. These funds include but are not limited to the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), Teacher Education Assistance for College and Higher Education Grant (TEACH Grant), the Iowa Tuition Grant, the Iowa Grant, any Coe merit or talent-based scholarships, federal and institutional work programs, federal and institutional loans and any aid awarded by individuals or agencies other than the Coe College Office of Financial Aid. You were considered for all aforementioned assistance; if your financial aid award does not reflect a particular program either you did not qualify or funds were no longer available from that source with the exception of the TEACH grant. Please see the TEACH Grant section in this handbook for information about qualifying for TEACH Grant funds.
Your financial aid award letter is extremely important. Awards that are declined will not be replaced with other institutional funds. You may reduce or decline an item by completing and returning to our office the Financial Aid Awards Adjustment Form or by emailing us at firstname.lastname@example.org. New students must accept their financial aid award by submitting a $300 non-refundable enrollment fee by May 1 for the fall term. Extensions may be requested by contacting the Office of Financial Aid. If a student does not respond by the stated deadline, Coe College cannot guarantee the availability of any funds offered in the financial aid award letter.
Returning Students Award Notice
The Office of Financial Aid will send an electronic award letter to your Coe email address. Your financial aid award can also be viewed on my.coe.edu. It is not necessary for you to confirm your acceptance of the awards that are offered to you. If you wish to decline or reduce an award you should complete and return the Financial Aid Awards Adjustment Form to our office.
Financial Aid and Estimated Charges
Your financial aid award letter is designed to give you a complete summary of your financial assistance and your direct costs for the academic year. Note that cost figures are estimates. The figures reflect your status as a resident or commuter and the appropriate associated charges.
Unless you notify the Office of Financial Aid of your wish to decline an award, all grants and scholarship aid offered to you will be processed. Loans offered to you cannot be disbursed until you have signed a promissory note and completed loan entrance counseling. You do have the option of canceling any aid award within 60 days from the date the funds were initially disbursed.
Certain loans (Federal Direct Stafford and Parent PLUS Loans and Alternative Student Loans) have origination fees that will not be reflected on your award letter. The origination fees can be found on your loan disclosure notices received from the lender. Any questions that you have about your award should be addressed to the Office of Financial Aid.
Receipt of Outside Scholarships
If you are aware that you will receive scholarships or other assistance from outside sources that were not included in your official award letter or if you receive a different amount than anticipated on your award letter, you must promptly notify the Office of Financial Aid. You can notify our office via email at email@example.com or by completing and submitting the Financial Aid Awards Adjustment Form to our office. Our office will make adjustments as necessary to ensure that you do not receive more assistance than you are eligible for according to state and federal regulations. Scholarships from outside sources cannot be applied to your account until the funds are received by the Coe College Business Office and, if applicable, the check has been endorsed by you.
Dollars for Scholars Match
As a Dollars for Scholars recipient, you may be awarded a $100 institutional match, providing that you notify the Office of Financial Aid in a timely manner and, as stipulated by the Dollars for Scholars Program, your scholarship check is payable only to Coe College. Institutional matching funds are limited and a request for this match can no longer be honored once the yearly funding commitment with Dollars for Scholars has been fulfilled.
Maximum Time Frames for Receipt of Financial Aid
Eligibility for Coe merit-, talent- and need-based scholarships and grants for full-time undergraduate students entering Coe College directly from high school is limited to a maximum of eight terms. If students who drop below full-time status during a term are allowed to retain their full Coe-based gift aid, that term will be counted toward the eight term limit. Students transferring to Coe are granted the number of terms specified on their scholarship letter from the Office of Admission.
Under no circumstances will full-time students attending Coe beyond the eight terms receive Coe-based gift funds; however, such students may be eligible for a continuing student discount. Education and accounting majors who are in a fifth year of study may be eligible for a fifth-year tuition discount and should contact the respective academic department for more information.
Financial aid beyond eight terms is generally limited to federal and state aid. Students are encouraged to file a Free Application for Federal Student Aid (FAFSA) for federal and state financial aid, although both types of financial aids have statutory limits. For students who received a federal Pell grant, the equivalent of 12 full-time terms is the maximum. Beginning with the 2013-2014 academic year, new Stafford loan borrowers may only receive subsidized loans for a maximum of 150% (six years of full-time study) of the published length of their academic program. For students receiving the Iowa Tuition Grant, eight full-time terms is the maximum. Federal and state financial aid eligibility end once students have satisfied all graduation requirements for their particular areas of study. Please see "Satisfactory Academic Progress Standards" for additional restrictions.