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Financial Information
Tuition, room, board and fees are listed for the entire year but are
due in two installments. Price increases during the academic year
are not anticipated; however, the College reserves the right to make
them should unforeseen circumstances make it necessary.
Basic Costs 2004-05
| Tuition and fees |
$17,770 |
| Housing |
2,100 |
| Meals (21-meal plan)* |
2,590 |
|
| Comprehensive fee |
$22,460 |
*There are other board plan options available.
All students residing in campus housing other than the apartment complexes
are required to participate in the College board plan. All first-
and second-year students who have not reached the age of 21 and are
not living at home are required to reside in College residence halls
and participate in the College board plan.
Besides covering tuition, room, board and student activity events,
the comprehensive fee entitles you to free admission to most campus
concerts, athletic contests, plays, lectures and other campus events.
The student activity fee pays for a year's subscription to The
Concordian newspaper, a Cobber yearbook, and student activities programming.
Financial Arrangements
Advance payments: A nonrefundable $20 application
fee must accompany the application for admission by new students,
excluding students who are readmitted. After acceptance for admission,
all new students pay a nonrefundable $200 advance on tuition and fees.
Advance payments are applied to tuition charges.
Returning students living on campus make a $200 nonrefundable advance
payment for their room when they sign a Residence Hall Accommodations
Agreement in the spring of each year. This advance payment is applied
to housing charges for the fall semester.
Prepayment: Discounts may be obtained when prepayments
are made. The discount is determined by the month in which you make
payment and is subject to change.
Prepayment: Tuition and fees are payable at the beginning
of each semester. Payment for first semester is due by the end of
September. Payment for second semester is due by the end of January.
When financial aid or other adjustments are expected, those adjustments
may be deducted from the balance. Please do not delay payments while
waiting for adjustments. Interest will be charged on unpaid balances
that are outstanding 30 days or more. Students should not expect to
be registered for the next semester if fees are not paid in full.
Vacations: Room charges cover all days of the academic
year except the Christmas vacation period, which occurs between semesters.
The charge for board covers all meals served during the academic year
except during the following periods: midsemester recesses and Thanksgiving,
Christmas and Easter vacations.
Insurance: A group health insurance plan is available
for both married students and for single students who are not covered
by their parents' health insurance policy or some other policy.
Students as well as staff members may wish to provide their own insurance
coverage on all personal property, because the College cannot be responsible
for any losses.
Student bank: The Business Office provides a free
student bank service to students in which funds may be deposited for
safekeeping and withdrawal simply by presenting an ID card and signing
a receipt. This is a non-interest bearing account.
Special Fees (2004-05)
Updated: 2005-06 Fees
Students are required to pay these fees or make these deposits:
Deposit, comprehensive $75
This refundable deposit is held until the student leaves or graduates.
At that time, it will be applied to any unpaid bills or refunded.
If a student chooses not to return to Concordia, he or she should
notify the Business Office to expedite a refund. Graduates automatically
receive refunds within 60 days after graduation.
A transcript of record is $2. (No student will be issued a transcript
until all bills are paid in full in the Business Office.)
Mandatory fees for selected programs: Only participating students
pay these fees:
Summer school, per course $1,830 (2004) - updated schedule for Summer 2005
Private lessons in music, per semester series (includes practice room)
$ 300
Part-time study, per course $2,770 (see definition, "Part-time
student,")
Courses in excess of 4.25 credit load, per .25 credit (The excess-load
charge does not apply to credits from private lessons in music.) $
310
Course audit:
- For currently enrolled students no charge
- For graduates of Concordia College no charge
For noncollege persons, per course $ 50
Student teaching $ 180
Education Methods Fee $ 50
Clinical Laboratory Science $5,690
(Clinical Laboratory Science: Students enrolled in the clinical laboratory
science program who, in their final year, attend an approved school
of medical technology are charged $5,690 for tuition.)
Withdrawals and Refunds
Refunds upon withdrawal: Should you, for whatever
reason, withdraw from Concordia during a semester or summer term,
a refund of tuition and room and board, if applicable, is calculated.
The amount of refund is determined by how much of the term has elapsed.
If you are a recipient of student financial assistance, that assistance
will be reduced as a result of your withdrawal. Federal legislation
determines the amount of refund for recipients of federal Title IV
student assistance. It is the purpose of this section to inform you
of the financial implications of withdrawal.
If you are not the recipient of federal student financial aid, the
College refund policy returns any refund of tuition or room and board
first to the programs from which assistance had been received (i.e.
scholarships, Concordia gift assistance). This policy is consistent
with the philosophy of financial aid being utilized after the resources
of the student and parents. Refunds of tuition are given only through
the eighth week of the semester while the room and board refunds are
prorated for the entire semester less a penalty for breaking the housing
contract.
A different refund policy is required if you are the recipient of
federal Title IV student assistance. If you withdraw from school on
or before the 60-percent point in the term, then a percentage of Title
IV federal financial aid shall be returned by the school and possibly
by you. The amount of Title IV aid to be returned is equal to the
total Title IV aid disbursed for the term multiplied by the percentage
of the term not attended. Any refund amount must then be applied first
to the federal aid programs in the following prescribed order:
1. Federal Unsubsidized Stafford Loan
2. Federal Subsidized Stafford Loan
3. Federal Perkins Loan
4. Federal PLUS Loan
5. Federal Pell Grant
6. Federal Supplemental Educational Opportunity Grant
7. Other federal Title IV aid programs
Any remaining refund will then be returned to other institutional,
state or private student assistance that has been received. Any refund
in excess of student aid will be returned to the student only after
account balances in the Business Office have been paid.
Specific examples of refund calculations are available upon request
from the Financial Aid Office.
In the event your financial aid exceeds the direct costs in the Business
Office and you receive a cash credit balance, withdrawal will result
in repayment of a portion of that credit balance. The portion to be
repaid is determined by multiplying the cash payment by remaining
weeks in the semester divided by total weeks in the semester.
Refunds for reduced load: If you find it necessary to drop a course
during the semester, obtain a drop-add form from the Office of the
Registrar. The completed form must be returned within seven days.
If your student status changes from overload to full-time or from
full-time to part-time, tuition refunds through the seventh week of
the semester will be granted effective on the date the drop-add form
is returned to the Office of the Registrar. Dropping below full-time
status may have an impact on the financial aid you are receiving.
Refunds for private lessons: Refunds will be granted based on the
number of lessons taken. No refunds will be granted after five weeks.
If financial aid was given to cover music lessons, it will be removed
should the lessons be dropped.
Appeals on refunds: Any questions or problems related to refunds should
be directed to the controller, whose office is located in the Business
Office.
Terms of statement: In order to receive any credit balance, complete
settlement of your bill must be made.
Financial Aid
No student should ever decide against attending Concordia College
on the basis of cost without first conferring with the Financial Aid
Office. More than $35 million per year in financial aid is made available
by the College, donors to the College, and the state and federal governments.
Funds are distributed through scholarships, grants, loans and work
opportunities to students who without such help would be unable to
attend college. These programs are offered singly or in combination
to form a financial aid package.
Eligibility for assistance is based on need and/or on academic promise.
Need-based financial aid is applied toward those attendance costs
that you and your family cannot provide, while merit-based financial
aid recognizes academic potential. Aid is granted for a one-year period
only, so application must be made each spring for the coming academic
year.
You are expected to maintain satisfactory academic progress according
to the standards and practices of Concordia. Failure to do so may
result in ineligibility for financial aid.
How to Apply for Financial Aid
To apply for all forms of need-based financial aid - scholarships,
grants, loans, work-study - you need only complete two forms:
a Concordia College Supplemental Financial Aid Application, available
at the Financial Aid Office; and the Free Application for Federal
Student Aid (FAFSA) available from your high school counselor, from
the Financial Aid Office at Concordia or at www.fafsa.ed.gov.
The Free Application for Federal Student Aid is available in December
and should be completed and sent in as soon as possible after Jan.
1 for the following academic year. However, it is strongly suggested
that both student and parental federal income tax returns be completed
prior to application. For financial aid available from Concordia (institutional
or federal), there is no deadline for application, but priority will
be given to those students who apply prior to April 1. Late applicants
will be awarded aid on the basis of available funds.
Financial aid is awarded to first-year and transfer students on a
rolling basis, which means that as soon as you are accepted for admission
and file for financial aid, you will be notified concerning financial
aid. Upperclass returning students can expect award notification prior
to or during the month of June if application is made prior to April
1. Remember that need-based financial aid can only be given on an
annual basis - reapplication must be made each year. Because the
financial status of a family often changes, it is impossible to award
aid for more than one year.
Once financial aid has been awarded, you will receive a Notice of
Financial Aid Award.
Financial Aid Revisions
The financial aid package is awarded on the basis of financial
and academic information contained in the application. Aid received
from any source that was not originally considered in your aid package
may affect the amount you receive. You are required to notify the
Financial Aid Office of all such aid received from any source.
Because your financial aid package is based on information from the
previous tax year, changes in the financial status of your family
may also affect your financial aid. Therefore, Concordia must retain
the right to revise your aid package if other resources become available.
Likewise, Concordia will increase your aid package if circumstances
merit the increase and if funds are still available.
Scholarships and Grants
Scholarships, prizes and awards are given to recognize outstanding
achievements and provide assistance based on financial need. Grants
provide financial assistance. Grant funds are outright gifts and need
not be repaid.
The amount awarded is based upon need determined by the federal needs-analysis
formula. The College holds this information in confidence.
A complete list of scholarships and awards can be obtained from the
Financial Aid Office.
Concordia grants: Concordia grants are awarded on the basis of financial
need and/or merit.
Concordia scholarships: Concordia scholarships are awarded on the
basis of academic achievement, financial need and/or merit.
Concordia endowed and restricted scholarships: Concordia receives
funds from a large number of foundations, corporations and private
donors to be awarded as scholarships to students on the basis of financial
need and/or selection criteria established by the individual donors.
Merit-based scholarships: A complete list of need-based and merit-based
scholarship and grant programs is published annually by the Concordia
Admissions Office. The "Scholarship Opportunities" brochure
provides instructions for application, criteria for retention and
other important information about the gift aid available to Concordia
students.
Minnesota State Grant Program: All Minnesota residents will be evaluated
for eligibility for a Minnesota Grant if they complete a Free Application
for Federal Student Aid and have the results sent to Concordia. The
grant is awarded based on financial need. You may only receive aid
from the Minnesota Grant program for the equivalent of eight semesters
of undergraduate study, and you must be registered for at least 3.75
course credits each semester to receive the maximum Minnesota grant
for which you are eligible.
Federal Pell Grant program: The Federal Pell Grant is a program designed
to provide undergraduate students with a "foundation"
of financial aid to help defray the costs of a postsecondary education.
Application is made through completion of the Free Application for
Federal Student Aid. The amount awarded is determined on the basis
of financial need and the direct educational expenses of the student.
Once you apply for the Federal Pell Grant, you receive a Student Aid
Report (SAR). It is anticipated the maximum Pell Grant for 2004-05
will be $4,050.
Federal Supplemental Educational Opportunity Grant: This federal grant
is intended to assist those students with exceptional financial need
who, without the grant, would be unable to continue their undergraduate
education. Grants under this program range from $100 to $4,000 per
year.
Reserve Officer Training Corps Scholarships: These awards, providing
for tuition, fees, textbooks, supplies and a monthly stipend, may
be awarded to students who meet established criteria. See ROTC under
the "Expanded Academic Opportunities."
Loans
Six types of loans for college costs at Concordia are available:
1. Federal Perkins Loan: This loan, which lends money
at a five percent interest rate, is offered on the basis of financial
need. Loan maximums are $4,000 annually with an aggregate of $20,000
for undergraduate study. The loans are interest-free while the student
remains enrolled in college. Repayment begins nine months after enrollment
ceases with a minimum repayment of $40 per month and may be extended
up to 10 years for larger aggregate loan amounts. In addition to having
a low interest rate, a Perkins Loan also has cancellation provisions
for certain types of teaching, military, law enforcement, Peace Corps
and volunteer service.
2. Federal Stafford Loan program: This program provides
loans at a variable interest rate with an interest cap of 8.25 percent.
Students demonstrating need, according to federal guidelines, may
borrow through any lending institution that is willing to extend the
loan. Under this program, the federal government will pay the interest
until you begin repayment, which starts six months after enrollment
ceases. Students who do not demonstrate financial need may obtain
an unsubsidized Federal Stafford Loan and will be required to make
interest payments while enrolled in college. The maximum amount for
this loan is $2,625 per year for first-year students, $3,500 for second-year
students and $5,500 for each year thereafter, with an undergraduate
maximum of $23,000.
3. Federal Parent Loan for Undergraduate Students (PLUS):
The Federal PLUS program was established to help parents
borrow money to defray the cost of education for their dependent children.
Regardless of income, parents who are credit-worthy may borrow up
to the cost of education minus any financial aid the student is receiving.
The interest is variable but will not exceed nine percent. Applications
and further information are available from lending institutions and
the Financial Aid Office.
4. Student Educational Loan Fund: SELF is a state
program controlled by the Minnesota Higher Education Services Office.
You may borrow up to $4,500 per year for the freshman and sophomore
years and $6,000 per year thereafter for a maximum of $25,000 for
undergraduate study. The interest charged is normally at a rate lower
than most commercial loans. The interest is payable on a quarterly
basis while in school. Principal and interest payments begin after
leaving school.
5. Short-term loans: Occasionally, students may experience
expenses of an emergency nature. Concordia has a short-term loan program
designed to assist in these instances. The amount of these loans varies,
but typically they will not exceed $50 because of limited available
funds. The interest rate is one percent per month, and the loan must
be repaid within 30 days. Further information and/or application forms
may be obtained from the student loan supervisor in the Business Office.
6. Supplemental loans: Many commercial lenders offer
supplemental student loans. Generally, these loans require a cosigner
and have higher interest rates. Application forms are available from
your Stafford Loan lender or the Financial Aid Office. Borrowers are
urged to use the same lender for Stafford Loans and supplemental loans.
Work
Student part-time employment: Better-than-average
employment opportunities in part-time work exist both on and off campus
for Concordia College students.
The cities of Moorhead and Fargo form a retail-wholesale trade center
for a large area. Concordia College students have a good reputation
with business firms in the two cities. A substantial number of students
hold part-time jobs. The College's Career Center, the Financial
Aid Office and the student-operated Job Shop coordinate requests for
student workers and students seeking employment. Approximately 1,300
students - freshmen to seniors - are employed on campus each
year.
Concordia Auxiliary Services employs the largest number of students
in part-time jobs, ranging from dishwashing to student manager positions.
Hours for all part-time jobs are arranged around class periods. Other
on-campus jobs include departmental and administrative clerical help,
library assistance, language laboratory monitoring, grounds work and
residence hall assistance.
For students receiving financial aid, part-time employment may be
considered as part of their financial aid package. A work award in
the financial aid package provides the opportunity to work, not the
guarantee of a job.
Student department assistantships: Student assistantships
are available in several departments. These are positions with special
educational and personal qualifications involving close cooperation
with supervising faculty members. Application is made in writing and
in person to the head of the department before April 1 for assistantships
for the following college year. Ordinarily, the candidate has a year
of residence at Concordia College before becoming eligible for an
assistantship.
Federal work-study program: Students with financial
need who require a job to help pay for college expenses are potentially
eligible for employment by the College under federally supported work-study
programs.
To work under this program at Concordia College, you must be enrolled
and be in good standing, or be accepted for enrollment as at least
a half-time student.
Refunds in Financial Aid Resulting from Withdrawal
from School
The Business Office determines the refund amount for tuition, fees,
room, and board in the event that you withdraw from school during
the semester. Please refer to the information under Withdrawals and
Refunds in the Financial Information pages of Catalog.
Cautionary Note: Because the status of federal and state student assistance
programs is ever-changing, we run the risk that published information
may become outdated. Should this occur, we will publish all applicable
changes using the numerous media available on this campus.
Glossary of Terms
Concordia College Supplemental Financial Aid Application: a supplemental
application required by the College, available in the Financial Aid
Office or on the Financial Aid Web site at www.cord.edu/dept/finaid/.
FAFSA: Free Application for Federal Student Aid - financial statement
that is used in applying for need-based financial aid.
grant: a monetary gift awarded on the basis of need and/or merit.
Job Shop: a student-operated office whose main purpose is to help
students secure on- or off-campus employment.
lender: your local bank, savings and loan, credit union, or other
financial institution participating in the Federal Stafford Loan and
Federal Parent Loan for Undergraduate Students programs.
need: the difference between the cost of education and the family's
calculated ability to meet that cost.
package: the financial aid, determined by the Financial Aid Office,
that you receive.
rolling bassis: an arrangement in which once you are accepted and
apply for financial aid, you are notified immediately of the financial
aid decision.
scholarship: a monetary gift usually awarded according to donor's
specifications, such as financial need, achievement or field of study.
Student Aid Report: the report the student receives from the need-analysis
processor indicating financial information on file regarding the student;
to be used for the corrections process.
verification: a requirement of the federal government to verify accuracy
of the financial data in the aid application.
work: on- or off-campus part-time employment that students can participate
in while in school; available through the Financial Aid Office. Earnings
are paid by the employer and through federal and state funds as applicable. |
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