Financial Aid Glossary of Terms

Academic Standing
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 Awards will be withdrawn from students who do not maintain satisfactory academic progress.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.
Academic Year
An academic year is defined as 29 credit hours. Remedial credits can be included.
Changes in Financial Status
Students must report changes in financial status (decreases in income, benefits, etc.) to the Office of Financial Aid. The studentís financial need may be recalculated based on the change(s), and adjustments to financial aid packages will be made if necessary.
Concurrent Enrollment
Students may only be degree-seeking and receiving federal financial aid 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.
Drug-related Convictions
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 or please review the "Loss of Eligibility under Federal Policies".
Duration of Pell Grant Eligibility
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.
Enrollment Status
Financial aid awards may be adjusted when students change their enrollment status (e.g. from full-time to three-quarter or one-half time). In some instances, these students may be required to repay a portion of the aid received. Students must notify the Office of Financial Aid 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 Students reported as never attending class will have their aid rescinded.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.
Estimated Aid
An estimated financial aid package may be awarded to a student pending corrections, documentation or other materials needed to finalize an award. Estimated awards are done at the discretion of the Director of Financial Aid. Failure to provide the necessary documents could result in the student owing their entire term charges.
Finalization
Students receiving financial aid are required to finalize their term bills. They are required to do so in person at the Business Office in Wye Mills, Easton or Cambridge Center. Failure to properly finalize will result in the studentís course schedule deletion and aid package being rescinded.
Outside Scholarships
Students awarded scholarships from outside the institution must report these awards to the Office of Financial Aid. If a studentís direct costs have been met, the award package may be reduced.
Over-Awards
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.
Repeat Class
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.
Repeat Grade
Financial aid is prohibited for repeat courses where the student received an "R" grade.
Student ID
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.
Tuition Scholarships
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.
Unofficial Withdrawal
Students receiving financial aid must attend class regularly. Once notified of non-attendance in one or more classes, the Financial Aid Office must RESCIND ALL aid offered/accepted until the student provides proof of attendance.
Verification
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. Please see the "Verification Forms and Policy" for more information.
Withdrawals
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.