Financial Aid Philosophy
Financial aid programs are based on the premise that the primary responsibility for educational costs lies with the student and his/her parents. Financial aid is intended to be a supplement to the familys ability to pay college costs. The CINO Financial Aid Office administers funds from Federal, State, Institutional, and private sources according to regulations prescribed by the U.S. Department of Education and other agencies or individuals providing student aid funds.
Financial Aid Policies and Criteria
CINO students use the Free Application for Federal Student Aid (FAFSA) provided by the Federal Government to apply for Federal, State and CINO financial aid programs. Financial Aid is awarded based on need. The Financial Aid Office determines the amount of aid using the needs analysis formula. This is the formula used when the FAFSA is submitted to the U.S. Department of Education by the student. For more details and information about all aspects of financial aid, please see the CINO Financial Aid Handbook.
The Federal need analysis process and the determination of eligibility culminates the packaging of various financial aid programs by the Financial Aid Office. The Financial Aid Package is comprised of different types of Financial Aid combined to meet the students demonstrated need. The Financial Aid packaging process ensures effective use of the funds available and provides fair and equitable treatment of all applicants. It is the goal of CINO to seek funding and to package aid to meet fully the needs of all applicants.
International students use the Financial Aid Application for Foreign Students to apply for CINO International Student Grants. International Student Grants are given to students based both on financial need and academic achievement.
The CINO Financial Aid Office believes that self-help (loan and work) should be part of the aid package. Students should make a commitment of current and future earnings to their education.
Financial aid is awarded on a rolling basis. As students files become complete, financial aid award letters are prepared until funds are depleted. Listed below are the financial aid programs for which students apply when completing the FAFSA:
Federal Supplemental Educational Opportunity Grant (FSEOG)
Federal Perkins Loan
Federal College Work-Study
Federal Pell Grant
Federal Stafford Loan
Federal Unsubsidized Stafford Loan
Federal PLUS Loan
Veterans Administration (VA)
Workforce Program Grant
There are a variety of other scholarships students are able to apply for each year.
Many of these scholarships are given by friends and supporters of CINO. Complete descriptions of these scholarships, as well as, the methods for applying for them, are available in the CINO Financial Aid Office.
Financial Aid Application Process
CINO can process financial applications within 1 to 2 days. It is important that students follow up quickly on notices from the Financial Aid Office about required documentation in order to achieve the maximum financial aid eligibility. Although the Institute has no deadlines for Financial Aid, there are limited funds and the earlier a student completes the process, the greater the likelihood of a larger Financial Aid package.
The application procedure for new students is as follows:
Upon completion of the application procedure, students
receive a Financial Aid Award letter describing the package they have been awarded.
Students review the Financial Aid Award Letter and either accept or decline the
The accepted Financial Aid Award Letter is forwarded to the CINO Business Office. The students billing for the subsequent terms is credited with the financial aid award.
Students with a remaining tuition balance, after financial aid is awarded, need to pay at least 1/3 of the tuition balance before the current term of enrollment begins. This payment is to be made by the published deadline of each term in the Academic Calendar.
FEDERAL PELL GRANTS
Grants are funds available to help meet educational expenses and are based on demonstrated financial need. Eligible students may receive aid through the Federal Supplemental Education Opportunity Grant Program, the Federal Pell Grant Programs and/or the College Access program Grant. Grants generally do not have to be repaid if the student stays in school and completes the semester for which the grant was received.
FEDERAL DIRECT STUDENT LOANS
Eligible students may borrow funds to meet educational expenses through the Federal Stafford Loan Program. Loans must be repaid. Check regulations with the Financial Aid Administrator.
Members of the National Guard may qualify for special Financial Aid. See National Guard personnel for details or phone 1-800-372-7172.
V.A. EDUCATIONAL ALLOWANCES
CINO has been approved for the enrollment of veterans and other persons eligible to receive Veterans Educational Assistance Allowances.
There are several Veterans Educational Allowance programs in effect and it is important for a student to know the one that applies to him or her. They are referred to by chapter number that corresponds to the federal law, Titles 10 and 38 U.S. Code. The relevant chapters are:
30 Montgomery GI Bill for veterans who entered the armed services after June 30, 1985 and had their pay reduced by $100 per month for 12 months.
31 Vocational Rehabilitation Program for disabled veterans.
32 Veterans Education Assistance Program (VEAP) for veterans who entered the armed services after December 31, 1976 and who made contributions from their pay.
35 The program provides Financial Aid for the education of a dependent or surviving son, daughter, or spouse of a:
Veteran who dies of, or is permanently and totally disabled as the result of a service connected disability. The disability must arise out of active service in the Armed Forces.
Veteran with a permanent and total service-connected disability who dies from any cause.
Serviceperson who is missing in action or is captured in the line of duty and is currently being held by a hostile force.
Serviceperson who is currently being forcibly detained or interned in the line of duty by a foreign government or power.
The Department of Veterans Affairs determines an individuals eligibility.
Scholarship funds are awarded and applied to student accounts in accordance with the program guidelines. Scholarships may be in the form of a cash award or a fee waiver. To be a candidate, the student must demonstrate a financial need, exhaust financial alternatives, possess a cooperative attitude, maintain good attendance, and show academic progress. Students not maintaining satisfactory progress or a status of good standing will lose scholarship eligibility and funds applied or awarded will be refunded to the applicable scholarship program.
Applicants must attach a completed Free Federal Financial Aid Application to facilitate processing.
FEDERAL COLLEGE WORK STUDY
Students who qualify for financial aid have an opportunity to work part-time, on or off campus, under the Federal College Work Study Program. Work Study positions help students gain work experience in a variety of settings under the supervision of experienced managers. Students learn the importance of work, as well as, the values and behaviors expected of individuals in professional work settings. While Federal College Work Study jobs are part of a financial aid package, students are expected to fulfill the terms of their employment agreements. Supervisors will provide information on the requirements of these positions. Additional information about Work Study opportunities is available in the Financial Aid Office.