BOARD POLICY SERIES NUMBER: 7050
TITLE: COLLEGE AFFORDABILITY
The college shall establish programs to connect students with community and college resources to make college affordable in support of college completion. Programs will assist students in meeting basic needs and financial obligations.
Basic Need and Financial Resources
The college is committed to assisting all students have all their basic needs met in order to successfully complete a certificate or degree.
The college will establish programs and community partnerships to connect students with resources for food, housing, transportation, childcare, healthcare, and other public services. To retain more students, the college will develop and manage financial programs that provide scholarships, institutional loans and grants, and emergency funds to cover tuition, fees, supplies or living expenses. The college will make a reasonable effort to inform and connect students to all public and college resources for which they are eligible.
Programs supporting student affordability may be designated to address the needs of special populations in order to improve educational attainment.
Need based programs managed by the college are encouraged to use the Federal Financial Aid formula for determining student need as a guideline to ensure fairness and consistency
The college may establish programs that award financial assistance based on specific talents or service. Students eligible for financial support programs that reward talent or service are to be engaged in unique academic or co-curricular programs.
Students will be given an opportunity to be released from their financial obligation if they withdraw from courses during the designated drop-with-refund period. Students may receive a refund based on special circumstances when a withdrawal occurs after the drop-with-refund deadline.
Assisting Students to Meet Financial Obligations
The college is to balance the need for students to meet their financial obligations in order to minimize student loan default, establish a strong position to collect student fiscal obligations, and respond to requirements to return federal funds.
The college will establish a payment plan option to allow students to make payments over a designated period of time.
The college shall provide support to students with loans per federal regulations and will work with students to prevent loan default. The college will work with students in federal loan default so they may restart loan payments and to keep the college’s default rate at a level that maintains the college’s eligibility to offer federal loans.
DATE OF ADOPTION: 05/12/83
DATE(S) OF REVISION(S): 07/21/93; 07/09/14; 11/1/18
DATE OF LAST REVIEW: 07/09/14