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Financial Aid - continued                                                    Back to Finacial Aid Homepage 

Cost of Attendance

The cost of attendance (COA) is an estimate of how much money will be required to attend school for one year, including all reasonable expenses. The cost of attendance at the Cayce/Reilly School is comprised of several components.

>> Calculate your cost of attendance using the Department of Education’s Net Calculator

2015 Cost of Attendance includes:
Tuition -
$11,200
Books -
$500
Misc. Fees: -
$100
Living Expenses:
With Parent: $13,526
Not With Parent: $20,196
Total if Living with Parent: -
$25,326
Total if Not Living with Parent: -
$31,996

Additional components may be included in the total cost of attendance depending on each individual student's circumstances. If a student has circumstances that may require an adjustment of the cost of attendance, a statement regarding the circumstances must be written and submitted to the aid administrator to be considered by the Financial Aid Office.

Cost of Attendance (COA) The cost of attendance is the estimated total costs to attend school for one year (or 7 months at the Cayce/Reilly School). The cost of attendance includes tuition, books, supplies, and various living expenses while the student attends school.

Expected Family Contribution (EFC) The Expected Family Contribution (EFC) is how much money your family is expected to contribute to your college education for one year. Typically, the lower your EFC, the more financial aid you will receive. Factors such as family size, number of family members in college, family savings, and current earnings (information you provide on the FAFSA) are used to calculate this figure.

*Living Expenses (Room & Board, Transportation, and Personal Expenses) The Cayce/Reilly School does not provide on-campus dormitories or housing. Students are responsible for securing their own housing and living arrangements. A Student Housing List that features apartments, condos, and rooms for rent at special rates for Cayce/Reilly students is available to students upon request.

When determining how much financial aid a student may qualify for, the living expenses that the student will incur while in school is factored in to each student's overall cost to attend school. The Cayce/Reilly School utilizes living expense averages as determined by the federal government for the current award year.

*Please note: This is NOT how much money a student will get in grants or loans from financial aid. These are averages that the government feels you, the student, will pay out of pocket while you are in school. The Financial Aid Office does take these expenses into account when determining how much financial aid (loans and/or grants) to award you but there is no guarantee that you will receive enough financial aid to cover all of your estimated expenses.

Full-Time Student (7 month program) - Living with Parent

Room & Board Transportation Personal Expenses Total
$7,304 $2,299 $3,923 $13,526

Full-Time Student (7 month program) - Not Living with Parent

Room & Board Transportation Personal Expenses Total
$10,906 $3,443 $5,857 $20,196

Part-Time Student (14 month program) – Living with Parent
Room & Board Transportation Personal Expenses Total
$9,741 $3,066 $5,231 $18,038

Part-Time Student (14 month program) – Not Living with Parent

Room & Board Transportation Personal Expenses Total
$14,539 $4,577 $7,808 $26,924



Award Notification 

Students who have submitted the completed FAFSA (Free Application for Federal Student Aid) application will be mailed an Award Letter. This letter will indicate the approximate amount of financial aid you are eligible for, based on your enrollment status. This notification will provide information to help you determine if the aid being offered is sufficient for you to attend the Cayce/Reilly School.

Award Notification

The Award Letter will include:

  • Student's cost of attendance
  • Total expected family contribution
  • Student´s unmet financial need
  • Types of aid (Pell Grant or Direct Loans)
  • Amount of award for each semester
  • Total amount of award the academic year

A student's total award package may not exceed the individual student's financial need. Financial need is calculated as follows:

Total Cost of AttendanceTotal Expected Family Contribution = Financial Need

The student should review the award letter carefully. If the student wants to decline an award, the decline box next to the appropriate award(s) should be checked and returned to the financial aid office. To accept the award as listed on the award letter, students must schedule Entrance Counseling with the Financial Aid Office.

Revised Award Letters: When a student makes any changes to a FAFSA once it has been processed, the financial aid that was initially offered to the student may change. A revised award letter will be mailed to the student if an adjustment has been made. Adjustments are made to ensure compliance with individual program requirements and to avoid over awards in the total award package.


Verification Process

When a student submits a FAFSA application, the federal processor selects at random, some applications for verification (30% of all applications will be selected).

Department of Education crsmStudents selected are required to submit:

  • A copy of student and/or spouse, or parent federal tax return information (usually the prior year tax return)
  • A verification worksheet
  • Documentation of any untaxed income

Other documentation may be required depending upon database match results. The Financial Aid Office will send notification to students of all required documentation. Financial aid will not be disbursed/paid until all required documents have been submitted.

>>Download Verification Form – Independent Student
>>Download Verification Form – Dependant Student


Satisfactory Academic Progress

Federal, state, and Cayce/Reilly School guidelines require a student to maintain Satisfactory Academic Progress (SAP) in order to continue to receive federal financial aid. This means you must complete the academic requirements and maintain the minimum number of clock hours for your program.

Satisfactory Academic Progress will be reviewed:

Full-time Program: the mid-way point of each course
Part-time Program: the mid-way point of each course

Minimum Grade Average: In order to maintain eligibility for financial aid, a student must maintain a cumulative “C” average (minimum of 70%) in all courses where a letter grade is received; Pass/Fail class hours are not included when calculating grade point averages. A student is required, however, to receive a minimum of a “C” (70%) in every class where a letter grade is earned in order to receive the 700-hour diploma.

Failing a Class: Full-time students will be allowed to retake any class that is failed one (1) time while remaining eligible for financial aid. Part-time students will be allowed to retake a failed class twice (2) and remain eligible for financial aid. When a student successfully completes the course for the second time, the first grade of “F” is removed from the student’s record and the student receives the passing grade.

Attendance: Students must have completed a minimum of 255 hours of class time at each SAP review period. Any student whose class attendance is below 255 hours may forfeit any remaining financial aid they were awarded.


For more information on federal financial aid at the Cayce/Reilly School, please contact:

Teresa Dunham
(757) 457-7131
teresa.dunham@caycereilly.edu

 


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