Financial Information

The primary responsibility in financing the costs of postsecondary education rests with students and their families. However, COM–FSM administers three U.S. Federal Student Aid Programs to help students with limited financial resources seek financial assistance to pursue their post secondary education with COM–FSM. Financial Aid Office at COM–FSM is tasked to help, assist and process all applications for financial assistance in accordance with COM–FSM Student Financial Aid Handbook. The Student Financial Aid Handbook, available at Financial Aid Office, provides complete information on (1) how to apply for U.S. Federal financial assistance, (2) the costs of education with COM–FSM and (3) the calculation of financial awards to students and other important information concerning financial assistance.

FINANCIAL AID PROGRAMS

Federal Pell Grant: Pell Grant is U.S. grants to help undergraduate students who have not earned a bachelor’s or professional degree pay the costs of post secondary education.

Federal Supplemental Educational Opportunity Grant (FSEOG): This grant, in addition to Pell Grant, is given to students with exceptional financial need who enrolled in college level program prior to June 25, 2004. Students will continue to receive this grant for not more than four academic years.

Federal Work Study: The program provides the opportunity to apply for part-time employment and earn money to pay for their educational cost. Eligible students are those who already enrolled in a college level program prior to June 25, 2004. This program will continue for not more than four academic years.

Supplemental Education Grant (SEG): Under the Amended Compact, students who enroll after June 25, 2004 are not eligible to receive assistance under FSEOG and Work Study. However, the U.S. provides a discretionary annual grant to the FSM to provide a system of education assistance benefits equal in quality with FSEOG and Federal Work Study through SEG.

CFSM Student Assistance: Annual appropriation from FSM National Government to the College to be used as scholarship grant to FSM students.

State Scholarships: State scholarships are processed and awarded by Pohnpei, Chuuk, Kosrae and Yap States to the students from their respective states.

Other Scholarships:
- Rotary Scholarship
- FSM Development Bank
- Mobil Scholarship
- Association of Filipino (STAB) Scholarship
- Timothy Jerry Scholarship

TUITION AND FEES

Tuition and fees are set by COM-FSM Board of Regents. Tuition Fee: The current tuition fee of $95 per credit was adopted by the Board on December 2006 and was implemented effective Spring 2007. Below is the schedule of tuition fees based on certain number of credits:
1 credit..................................$95.00
3 credits...............................$285.00
6 credits...............................$570.00
9 credits...............................$855.00
12 credits ..........................$1,140.00
15 credits ..........................$1,425.00
18 credits ..........................$1,710.00
Dormitory Fee:
Regular Semester ..................$367.50
Summer Session ...................$175.00
Meals Fee (Board):
Regular Semester:
On campus ........................$1,176.00
Off campus (lunch, M-F).........$315.00
Summer Session:
On campus ...........................$560.00
Off campus (lunch, M-F).........$150.00
Daily Rate:
Breakfast .................................$2.00
Lunch or Dinner ........................$3.00

Entrance Test/Admission Fees:
Entrance Test Fee: A $5.00 fee has to be paid by all students before taking the entrance test for admission at the College.

Admission Fee: A $10.00 fee must accompany an application for admission at the College.

Enrollment Fees:

Registration Fee: A $15.00 per semester registration fee has to be paid at the time of registration for both full-time and part-time students. This helps defray the cost of enrolling students in classes, recording of grades, maintaining student records, and other expenses relative to the Office of Admissions and Records, Financial Aid Office and Business Office.

Health Fee: A $15.00 per semester health fee has to be paid at the time of registration by students at campuses where student health care and counseling are available. However, charges incurred by the student at the hospital or private clinics are the responsibility of the student.

Student Activity Fee: A $20.00 student activity fee has to be paid at the time of registration by all students each semester at the campus where student activities are provided. The fee provides student’s access to all COM – FSM student curricular and extracurricular activities.

Other Fees:

Technology Fee: A $50.00 fee per semester/session is charged to all students to have access to computers. This fee helps the College maintain up-to-date and adequate technology facilities for students.

Laboratory Fee: Students taking science, and agriculture laboratory courses are required to pay a fee of $25.00 for each laboratory course.

Fees Charged When Applicable:

Residence Hall/Dormitory Security Deposit: Students applying to live in the residence halls must pay a security deposit of $50.00. When moving out of the residence halls, the security deposit shall be refunded. Request for refunds must be in writing and submitted to Dormitory Manager who will assess the room for damages and cleanliness. Business Office will process a check for refund of the security deposit upon receipt of clearance from the Dormitory Manager.

Late Registration Fee: Students who register after the last day of scheduled registration are charged a late registration fee of $5.00.

Auditing Fee: Students who are allowed to audit a course will be charged $20.00 per credit for the course.

Credit-By-Examination Fee: A non-refundable fee of $15.00 per course will be required when students apply to earn credit-by-examination.

Graduation Fee: $36.50 fee is required for all students receiving a diploma for an associate degree or a third-year certificate of achievement in any program. $10.00 fee is required for students completing other certificate of achievement programs. The fee must be paid when filing an application for graduation.

Transcript Fee: No fee is charged for the first request for a transcript. However, $4.00 fee is charged for each subsequent request.

Duplicate ID Fee: A $5.00 duplicate ID fee is charged to replace a lost ID card.

Duplicate Diploma Fee: A $ 15.00 duplicate diploma fee is charged to duplicate lost diploma.

No Sufficient Fund (NSF) Check Fee: A $15.00 fee is assessed for each check payment made by students that are returned by the bank for insufficient funds or for closed account.

REFUND OF FEES POLICY

Below are the tuition and fees that are refundable:
- Tuition fee
- Meal Fee
- Student Activity Fee
- Health Fee
- Laboratory Fee
- Technology Fee

The percent of refund of the above refundable fees is determined according to the timing of withdrawal using the following schedule:

Regular Semester (Fall/Spring): If students withdraw from school:
Prior to first day of class – 100%
During the first two weeks – 80%
During third & fourth weeks – 40%
After the fourth week – no refund

Summer Session: If students withdraw from school:
Prior to first day of class – 100%
During the first week – 80%
During second week – 40%
After the second week – no refund

Full refund will be given if changes are made in the published schedule of classes which results in the complete withdrawal by the student. Partial refund for the difference in tuition and applicable fees will be given to students who revert to part-time status as a result of changes in the published schedule by the College.

The College will not assess penalty charges when the student is not in error or at fault. Requests for refund should be made in writing to the Vice President for Student Services within fifteen days after the changes occur. The College assumes no liability for such refund after fifteen days have passed without the written request for the refund.

The following fees are not refundable:
Admission Fee
Registration Fee
Late Registration Fee
Auditing Fee
Credit-by-Examination Fee
Graduation Fee
Dormitory Fee

TRAVEL COSTS
FSM students from Chuuk, Yap and Kosrae who are admitted at the National Campus by the College of Micronesia-FSM are provided with transportation from their home state to the National Campus, and the return ticket after completion of their studies. Students who voluntarily withdraw from College forfeit their return ticket and are responsible for their own transportation back to their home state. Students dismissed for academic or disciplinary reasons are given transportation going back to their home state. If readmitted, these students will be responsible for travel costs to and from the College and will have to file their return ticket with the Business Office.