Financial Aid Dates and Deadlines

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Financial Aid Dates and Deadlines


File Completion Deadlines:

To allow for processing time and funds to be available by the tuition due date, all documents must be submitted to the financial aid office by:

2015 - 2016 Financial Aid File Completion Deadlines

Summer 2015

Monday, April 13, 2015

Fall 2015

Monday, July 20, 2015

Winter 2016

Monday, Nov. 30, 2015

Spring 2016

Monday, Feb. 29, 2016

 

Completed files consist of a completed FAFSA, completed BMCC Financial Aid Information Request (FAIR) form, and other documentation requested by the Financial Aid office on your Student Wolfweb.  

Applications will still be accepted after the above dates. However, eligibility may not be determined in enough time to pay tuition and fees prior to the beginning of the term. If an applicant is eligible for aid, the award will be made retroactive.  If the deadline is missed, the student MUST be prepared to purchase books and supplies, and set up an installment plan for the tuition and fees according to college tuition deadlines.  If out-of-pocket expenses are not reasonable, strong consideration should be given to postponing enrollment until the next term, or at such time that finances allow.

BMCC only accepts applications that have been submitted to the Department of Education by June 1st each year with all required documentation submitted to BMCC by June 15th.


Award Level Adjustment

A student’s enrollment level will be verified and adjusted to the current enrollment level prior to issuing the initial award letter.

Student’s enrollment status will also be checked after the “Last day for Full Refund” according to BMCCs Academic Calendar to ensure the award and enrollment level matches.  The award level will not be increased after the Last Day for Full Refund even if a class is added late.

Financial aid awards will be cancelled due to lack of enrollment during a term and all subsequent terms. Aid can be reinstated by the student by emailing Finaid at finaid@bluecc.edu 

Term

Last day for Full Refund

Summer 2015

Thursday, June 25, 2015

Fall 2015

Friday, Oct. 02, 2015

Winter 2016

Friday, Jan. 08, 2016

Spring 2016

Friday, April 01, 2016

 

YOUR AWARD LEVEL CANNOT BE INCREASED AFTER THE LAST DAY FOR FULL REFUND. 


Financial Aid Disbursement of Funds

DIRECT DEPOSIT-- BMCC has partnered with Higher One to offer students a direct deposit option staring July 6, 2015. More detailed information and instructions to enroll will be mailed to students in the month of May, 2015

            All about BMCC Refunds pdf

DISBURSEMENT OF FUNDS -- If a student receives financial aid in the form of scholarships, federal grants, state grants, or agency funding, their aid will be posted to the student’s account approximately one week prior to the first day of the term.  After all funds are applied to the student’s account and tuition and fees deducted, any balance remaining will be deposited into students account’s the last business day prior to the first day of the term.


Appeal Deadlines*:

Satisfactory Academic Progress will be determined for all applicants prior to being awarded financial aid.  Determination will be based on all previous academic history at BMCC regardless of whether or not financial assistance was received.  Satisfactory Academic Progress will also be reviewed at the end of every term after grades have posted. Students will be notified to their BMCC student email account and information posted on their Student Wolfweb

Satisfactory Academic Progress (SAP) and Length of Time (LOT) Appeal Deadlines

Term

Appeal Must be Submitted By:

Summer 2015

Wednesday, June 24, 2015

Fall 2015

Wednesday, Oct. 02, 2015

Winter 2016

Wednesday, Jan. 08, 2016

Spring 2016

Wednesday, March 30, 2016

 

*Appeals received after this date will only be considered for reinstatement for future terms and NOT the current term. Students choosing to remain enrolled will be responsible for payment of tuition/fees and purchasing books/materials.

For detailed information about the SAP policy, visit Satisfactory Academic Progress (SAP) Policy


Probation - Academic Plan Deadlines

Student’s whose appeal have been approved, are considered to be on a Probation-Academic Plan. EACH term while on Probation - Academic Plan, the student MUST meet the following requirements in order to continue to receive federal and state aid:

  • Submit an Advising Worksheet (AWS) no later than noon on the due date.  Not submitting an AWS prior to the deadline, will result in the CANCELLATION of aid for that term. 
  • The student may only pursue one degree while on probation.
  • The student may ONLY take courses listed on the AWS and required for the degree.
  • The student must successfully complete ALL credits attempted. ("INC", "W", "F", and "FA" are considered unsuccessful attempted credits.)

Term

Advising Worksheet Must be submitted By:

Summer 2015

Wednesday, June 17, 2015

Fall 2015

Wednesday, September 23, 2015

Winter 2016

Wednesday, December 16, 2015

Spring 2016

Wednesday, March 23, 2016

 


Federal Direct Loans Application Deadlines

A student may complete the Federal Direct Loan application process once he/she has received an Award Letter or an Eligibility Notification from BMCC. At least half-time (6+credits) enrollment is required each term in order to apply and maintain the loans. To apply see our Loan Information Page.

Term

Last day to apply:

Summer 2015

Monday, Aug. 17, 2015

Fall 2015

Monday, Nov. 30, 2015

Winter 2016

Monday, March 07, 2016

Spring 2016

Monday, May 30, 2016


First - Time Borrower Disbursement Schedule 

First-time borrower – is an individual who has never borrowed or has no outstanding balance of principal or interest on a Direct Loan Program or FFEL Program loan on July 1, 2013, or on the date the borrower obtains a Direct Loan Program loan after July 1, 2013.

By federal regulation, all first-time borrowers must wait 30 days for their first Federal Direct Loan disbursement.

Term

1st Disbursement

Summer 2015

July 22, 2015

Fall 2015

Oct. 28, 2015

Winter 2016

Feb. 3, 2016

Spring 2016

April 27, 2016

 


Single - Term Borrower Disbursement Schedule

Federal regulations require that any single term loans be disbursed in two equal payments.

  • 1st disbursement for returning borrowers is made at the same time as other financial aid funds.
  • 2nd disbursement for single term borrowers is the mid-point of the term.

Term

1st Disbursement

2nd Disbursement

Summer 2015

Mon., June 22, 2015

Mon., July 27, 2015

Fall 2015

Mon., Sep. 28, 2015

Wed., Nov. 4, 2015

Winter 2016

Mon., January 4, 2016

Wed., Feb 10, 2016

Spring 2016

Mon., March 28, 2016

Wed., May 4, 2016


Total Withdrawals & the Return of Title IV Funds

If a student:

(1) Stops attending all classes but do NOT officially withdraw,

(2) Drops all the classes after the “Last day for full refund’ date, or

(3) Officially withdraws from BMCC prior to the completion of 60.01% of the term, AND

(4) The student receives financial aid:

  • You may owe a return of unearned Federal Title IV Aid and/or
  • Owe BMCC for funds the school was required to return to the Department of Education.

For further information on the return of Title IV funds, refer to the Total Withdraw and Return of Title IV Aid Policy (pdf)

Term

60.01% Point of term for aid earned

Summer 2015

Monday, Aug. 3, 2015

Fall 2015

Wednesday, Nov. 11, 2015

Winter 2016

Wednesday, Feb. 17, 2016

Spring 2016

Wednesday, May 11, 2016