Financial Aid Office-Kosrae Campus
General Information
The purpose of the financial aid programs at COM –FSM is to assist students with various types of financial assistance to pay for their educational expenses.
Types of Financial Aid
Financial assistance may be in the form of:
GRANTS which do not have to be repaid and WORKSTUDY which provides opportunity to work and earn money for educational expenses.
- Federal Pell Grant – U.S federal student aid program (Title IV) to help undergraduates pay for their education. Federal Pell Grant does not have to be repaid. The maximum award for the 2011 -2012 Award Year (Fall 2011 – Summer 2012) is $5550, however, the amount you will receive depends on your enrollment status.
- Supplemental Education Grant (SEG) – Under the Compact of Free Association Amendments Act of 2003, students who began their enrollment after June 25, 2004, are eligible for SEG program.
- SEG Work Study – SEGWS gives opportunity to earn extra money to help education expenses by providing part time work. College regulations limit students to a maximum of 20 hours per week while classes are in session and 40 hours during breaks (Easter break, Christmas break), however, students are not eligible to work overtime hours. SEGWS students are paid on biweekly basis.
Students Eligibility Requirements for Financial Aid
To be considered for and receive Federal financial aid assistance, a student must:
- Be a US citizen or eligible non citizen(FSM, Palau & RMI)
- Be accepted and enrolled as a regular student working toward a degree or certificate in an eligible program
- Have a high school diploma or GED certificate
- Have demonstrated financial need
- Maintain satisfactory progress while in school
Application Information & Procedure
To be considered for financial aid at the College of Micronesia –FSM, each student must complete and submit the required documents and forms identified below. Your financial aid application will not be processed until the required documents are received by the Financial Aid Office and you have been officially accepted into a COM-FSM degree / certificate program.
- SAR (Student Aid Report)
- Copy of birth certificate / passport
- Income Verifications (One of the followings)
- Check Stub or Wage & Tax Statement for Parents / Spouse or Self
- Social Security Certification
- Untax Income Verifications
- COM –FSM AFA
FAFSA can be filed through one of the followings:
- Through internet by using FAFSA on the Web at www.fafsa.ed.gov
- Through Financial Aid Office or
- By mailing the paper FAFSA
Financial aid application forms, related materials and other information can be obtained from the Financial Aid Office. Apply as soon as possible after January 1st for the next academic year
Satisfactory Academic Progress Policy
To continue to be awarded Title IV aid, a student must be making satisfactory academic progress toward his /her educational objective in accordance with the U.S Department of Education’s General Provisions Regulations and COM-FSM satisfactory academic progress (SAP) policy. In other words, federal and college regulations require that all financial aid recipients be making satisfactory progress and remain in good academic standing.
The SAP policy includes a QUALITATIVE measure of your progress, such as grade point average (GPA), and a QUANTITATIVE measure of your progress, such as enrollment status and expected number of earned credits.
To be considered as making satisfactory academic progress, a student must:
- Maintain at least a cumulative GPA of 2.0
A student whose cum GPA falls below 2.0 will be given two consecutive semesters to raise it. If the GPA is not elevated by the end of the third semester, the student will be placed on academic and financial aid suspension.
- Complete at least the following number of credits for the corresponding number of credits attempted each semester
Regisered for: Must Complete
Full time ( 12 or more credits)........................................12
¾ time (9 – 11 credits)...............................................9
½ time ( 6-8 credits)...................................................6
Less than ½ time ( 3 – 5 credits)....................................all credits attempted
- Complete the educational objective within the following maximum time frame:
Degree Programs - 6 semesters or 3 years
Certificate Programs – 3 semesters or 1 ½ years
** All semesters of attendance apply whether financial aid was received or not.
MORE INFORMATION
For more information, stop by at the Financial Aid Office. Our office is located at the Kosrae Campus Administration.
Contact Information
Eileen Nobu Nena
Student Service Specialist
Financial Aid Office
College of Micronesia –FSM Kosrae Campus
P.O.Box 37
Tofol, Kosrae FM # 96944
Phone: 370-3191 /3192 ext: 02
Fax: 370-3193
Email: eileens@comfsm.fm
Office hour is from Monday thru Friday from 8:00 am – 5:00 pm
