Scholarship Awarding and Administration Policy

Date of Original Implementation: October 2011

Date of Last Revision: February 2012

Purpose

Cambridge College provides undergraduate and graduate scholarships to students who are enrolled in degree and certificate programs through funds provided by donors and College general funds. All scholarship funds must be awarded through the Office of Financial Aid.

This policy shall govern the compliant awarding of scholarships. Eligibility for scholarship aid will be based upon the following:

• Completion of the annual Free Application for Federal Student Aid (FAFSA) for all need based scholarships,
• Completion of the award year Cambridge College Scholarship Application,
• Continuing students must meet "Satisfactory Academic Progress" requirements,
• Students must be in compliance with the College's "Code of Student Conduct",
• Students must demonstrate financial need where necessary— based upon the Expected Family Contribution on the FAFSA,
• Students must meet any other requirements as set forth by the donor.

College scholarships are leveraged to ensure the maximum utilization of funds to meet enrollment goals, to attract students who will contribute to the diversity of the student population and to remove financial barriers to education, further promoting access for eligible students. Student recruitment and retention are also key components of the College's mission.

Scope

A Scholarship Committee shall be established with representation and responsibility as set forth from the following College Offices:

• Financial Aid: the College authority for determining student financial need based on the FAFSA
• Institutional Advancement: the College authority for communicating donor restrictions and for stewardship in reporting scholarship awards to donors
• Bursar: the College authority for student billing, payment application and refunds
• Grants Accounting: the College authority for scholarship fund accounting
• Academics: the College authority for executing the College's mission
• Registrar: the College authority for determining satisfactory academic progress
• Admissions: the College authority for enrollment management and recruitment

This Committee shall be charged with the responsibility for recommending the selection of scholarship recipients, based upon all of the eligibility requirements to the Director of Financial Aid. The Committee shall meet once per term or more frequently as necessary, as scholarships are awarded on a term by term basis based upon available funding.

A student who withdraws, cancels, becomes inactive, enrolls less than full-time (when full-time enrollment is required for scholarship retention), or is suspended or dismissed from the College, will lose his/her scholarship eligibility. A student who is classified under one of the above categories due to medical reason may appeal in writing to the Committee to have his/her scholarship reinstated. The appeal must be submitted in writing with supporting documentation.

The Committee will submit a report to Audit, Finance & Investment (AFI) Committee of the Board of Trustees on the awards disbursed each academic year after the awards for the summer term are disbursed. This report will be presented at the next regularly scheduled AFI Committee meeting.

Individual Responsible for Revision and Implementation: Vice President for Finance & Administration and Director of Financial Aid