2022-2023 Undergraduate Catalog 
    May 29, 2024  
2022-2023 Undergraduate Catalog [ARCHIVED CATALOG]

Financial Aid Information

Financial Aid Policies

Financial aid is monetary assistance provided to undergraduate students who seek higher education. The cost of education beyond high school is expected to be paid by the student and/or the student’s family. When the cost, however, is greater than the student’s or the family’s ability to pay, financial assistance is available. Most assistance programs are administered on the basis of “need” which is defined as the difference between the cost of attending a particular college and the family’s ability to pay that cost. Cost includes tuition and fees, books and supplies, transportation, and miscellaneous expenses. The student’s or the family’s ability to pay is calculated through a needs analysis system approved by the United States Department of Education, Office of Student Financial Assistance.

The Financial Aid Office incorporates various types of financial aid into a “Financial Aid Package” for each student in an effort to help the student meet particular educational goals. If qualified, Naugatuck Valley Community College students can receive financial assistance for direct educational costs such as tuition, fees, books and supplies. Student status will be measured as follows:

  • 6-8 credits
1/2 time  
  • 9-11 credits
3/4 time  
  • 12 credits and above

Financial Aid Awards shall be prorated based on student status as recorded by the Record’s Office at the time a payment list is generated. If an overpayment has been made, the aid dollars shall be replaced in the appropriate accounts. The order is as follows:

  • self-help dollars will be restored to accounts.
  • student help and college work study dollars will be returned to appropriate accounts.
  • loan dollars will be returned to the College account, or to the federal government if a Direct Subsidized Stafford Loan, Direct Unsubsidized Stafford Loan, or Direct Plus Loan for Undergraduate Students is involved.

The cost of attending Naugatuck Valley Community College will vary depending on a number of factors: how many courses the student is taking, how far away and with whom the student lives, and whether the student has dependent or independent status. The expenses listed below are typical for a broad category of students attending Naugatuck Valley:

Annual Budget

Tuition $4,740
Books $1,500
Transportation and Miscellaneous Expenses $6,293
Meals $2,142
Total $14,675

Note: The budget is pro-rated for less than full-time students. (Costs subject to change.)

Eligibility for Financial Assistance

Common to all federal funding, to be eligible for financial assistance a student at the College must:

  • be a United States citizen or an eligible non-citizen.
  • have financial need as assessed by an eligible needs analysis system.
  • be enrolled as a matriculated student at Naugatuck Valley Community College.
  • be working towards a degree or certificate.
  • maintain satisfactory academic progress.
  • not be in default on any federal educational loan or owe a repayment on any federal grant at any institution.
  • certify registration for Military Selective Service (if applicable).
  • have completed high school or have earned the GED.
  • be in good standing with any federal educational loans.
  • Non-credit course work does not qualify for federal financial aid.

How to Apply for Financial Aid

A student may apply for financial assistance at Naugatuck Valley Community College by completing the Free Application for Federal Student Aid (FAFSA) form for the year in which the student intends to attend the College. This form will establish the “financial need” of the student. Financial aid is granted on a one (1) year basis; students must apply for assistance each year.

The student and a parent must apply for a FSA ID at FSAID.ed.gov. The FSA ID is required for use in signing the online application.

The student should complete the FAFSA on the web at FSAID.ed.gov. The Federal School Code for Naugatuck Valley Community College is 006982.

Using Your Tax Return:

If you (or your parents) need to file a tax return with the Internal Revenue Service (IRS), we recommend that you complete you tax returns before filling out the FAFSA. If you have not completed your tax return yet, you can submit your FAFSA using estimated tax information, and then correct that information after you file your tax return. The easiest way to complete or correct your FAFSA with accurate tax information is by using the IRS Data Retrieval Tool through www.fafsa.gov. In a few simple steps, you may be able to view your tax return and transfer it directly into your FAFSA.

If a student is selected for verification, processing time can take up to four (4) weeks. Students are encouraged to provide all required verification documents in a timely manner to the Naugatuck Valley Community College Financial Aid Office. During the verification process if a student wishes to register for classes, payment arrangements must be made with the Bursar’s Office to avoid cancellation of classes.

Types of Financial Aid

Once eligibility has been established, the student should visit www.nv.edu and login on MyCommnet Banner Self Service and click on the financial aid tab. This will explain the “Financial Aid Package” comprised of all the funds the student will receive. The student may receive aid from one or many programs depending upon the student’s need and the availability of funds. The available programs include:


These are gift aid programs. Funds are not required to be repaid.

  • Federal Pell Grant This grant is the foundation of all federal aid programs. It is money provided to help undergraduate students pay for their education beyond high school. The amount of money the student can receive through this program will depend upon the program funding for the year, the information the student provides on the application, and whether the student is enrolled full-time or part-time. The student must be enrolled for at least three credit hours in a program of six months in length or longer. The student is eligible for this grant until a first bachelor’s degree is earned.
  • Federal Supplemental Educational Opportunity Grant (SEOG) This is a federal grant for undergraduate students who have completed high school and have a financial need.
  • Naugatuck Valley Grant This program provides grants in varying amounts to students demonstrating financial need. Eligibility requires that a student be a Connecticut resident.

Loans These funds must be repaid and approval of these loans is not automatic.

  • Federal Direct Stafford Loan Program This program provides low interest loans to students seeking assistance in financing their education. The loans are administered through the Federal government. The interest rate is variable and may change every July 1, but many never exceed 8.25%. These loans are available to students who are enrolled at least half-time and maintain satisfactory academic progress. The loan must be used for reasonable educational expenses.
  • There are two types of loans. A subsidized Stafford Loan is awarded on the basis of financial need. You will not be charged interest before you go into repayment or during authorized deferment periods. An unsubsidized Stafford Loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full.
  • The maximum grace period before payment becomes due is six months after graduation or withdrawal from school.
  • Federal Direct Plus Loans Federal Plus Loans are for parents to borrow. This type of loan enables parents with a good credit history to borrow to pay for the education expenses for each of their dependent undergraduate children who are enrolled at least half-time and maintain good academic satisfactory progress.
  • Federal Work-Study Program  The Federal College Work-Study Program (FWS) is part of the “Financial Aid Package” which provides jobs for undergraduate students who need help earning funds for some of their educational expenses. Awards vary according to financial need and the availability of funds. Generally, a student will work 7 to 15 hours weekly at the prevailing rate. Students must be enrolled at least part-time (six credits) and be making satisfactory academic progress.

Academic Standards for Financial Aid Recipients

Satisfactory Academic Progress Policy for Student Financial Aid Recipients

A student receiving Federal Title IV financial aid or other financial aid directly administered or certified by the college must maintain satisfactory academic progress towards the completion of a certificate or degree program of study. Satisfactory academic progress for financial aid recipients is measured by both quantitative and qualitative standards and is an assessment of a student’s cumulative academic record at the college. A student must complete successfully two-thirds (66.66%) of the credits (earned credits/attempted credits) s/he attempts. All attempted credits resulting in either an academic grade or administrative transcript notation will be included in the quantitative calculation. Incomplete courses, course withdrawals, course repetitions, and noncredit remedial courses (with appropriate credit equivalency evaluation) will be included in this assessment. Transfer credits will be counted as attempted and earned credits in the calculation for determining satisfactory academic progress. A student must also maintain a cumulative minimum grade point average as noted below to be making satisfactory academic progress and be eligible to receive financial aid.

Earned Credits Minimum GPA

≤ 15.99 1.50
≥ 16.00 2.00

Financial Aid Warning Period

A student’s cumulative academic history will be evaluated prior to each term’s financial aid disbursement. This policy will be used to evaluate full-time and part-time students.

  1. Repeated/Audit Coursework: Financial aid recipients are limited to one repetition of a previously passed course in their program of study. A second repetition of a previously passed course will not be eligible for financial aid payment. Audit courses are not financial aid eligible.
  2. Communication: Students will receive notification prior to the start of a period of enrollment via postal mail or e-mail that will describe any changes to the status of their academic status. Updates to academic progress standing are also available to student at http://my.commnet.edu.
  3. Warning Period: Any student who fails to meet the minimum satisfactory academic progress standard will be placed on Financial Aid Warning once. The warning period will be the student’s next semester of enrollment at the college. The college will communicate the Warning status to the student and inform the student that s/he must meet the academic progress standard by the end of the Warning Period in order to maintain eligibility to participate in the financial aid program at the college.


Any student who fails to meet the minimum satisfactory academic progress standard at the end of the warning period will be dismissed from the financial aid program at the college. The College will communicate the termination status to the student and inform the student of the reinstatement and appeal process available to the student.

Maximum Credit Hours

A student may receive student financial aid for any attempted credits in his/her program of study that do not exceed 150% of the published length of the student’s educational program at the College. For example, a student enrolled in a 60-credit degree program may receive financial aid for a maximum of 90 attempted credit hours. Similarly, a student enrolled in a 30-credit certificate program may receive financial aid for a maximum of 45 attempted credit hours. Any attempted credits at the College must be included in the calculation. This 150% maximum credit hours rule is applicable to students who change majors or who pursue a double major.


A student’s financial aid eligibility will be automatically reinstated at such time as the student meets the minimum satisfactory academic requirements. Reinstatement to the financial aid program may also occur upon successful appeal by the student.

Appeal Process

Students may appeal financial aid decisions. The first appeal should be made to the Director of Financial Aid. Appeal forms are available online and at the Financial Aid Office. Any appeal, due to extenuating circumstances (such as injury, illness, death of a relative, or if a student has experienced undue hardship as a result of special circumstances) must be documented with supporting evidence from a third-party source. Students will be notified of the director’s decision within 14 days. If the student is dissatisfied with the decision on that level, an appeal can be made to the Dean of Student Services.

Academic Engagement Policy

Students are required to participate in class in order to receive financial aid. Professors report all students who have not participated in class prior to the census date. The Financial Aid office is informed via email and financial aid is adjusted accordingly (and possibly cancelled). This will most likely result in a bill with the college. Proof of participation (for all classes) can be submitted to the Financial Aid office. If it is determined that the student is engaging in classes, financial aid will be reinstated and the hold will be removed. For the Board of Regents full Academic Engagement Policy see here.

Withdrawal From Classes

Students who plan to withdraw from any classes must report to the Financial Aid Office prior to the actual course withdrawal for counseling and/or adjustment to their award. Students who do not follow this procedure may be placed on warning or terminated from financial aid depending upon completion of the rest of their courses and the grades earned for those courses.

Financial Aid - Summer Session

There are Pell Grants available for those who qualify for the summer session. Satisfactory academic progress requirements are identical to semester requirements. For further information, please call the Financial Aid Office.

Federal Tax Credits for Educational Expenses

The Taxpayer Relief Act of 1997 created two nonrefundable education tax credits entitled the Hope Scholarship Credit and the Lifetime Learning Credit. See details on Tuition and Fees .

Rights and Responsibilities of Students Receiving Financial Aid

You have the right to ask the College:

  • The names of its accrediting organizations.
  • About its programs and faculty; its instructional, laboratory, and other physical facilities.
  • What is the cost of attending; what are the policies regarding refunds to students who withdraw.
  • What financial assistance is available, including information on all federal, state, local, private, and institutional financial aid programs.
  • What the procedures and deadlines are for submitting applications for each available financial aid program.
  • What criteria is used to select financial aid recipients.
  • How financial need is determined. This process includes how costs for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc. are considered in a student’s budget. It also includes what resources (such as parental contribution, other financial aid, assets, etc.) are considered in the calculation of financial need.
  • How much financial need, as determined by the institution, has been met.
  • How and when will financial aid be distributed.
  • An explanation of each type and amount of assistance in the financial aid package.
  • What the interest rate is for a student loan, the total amount that must be repaid, the length of time for repayment, the date to begin repayment, and any cancellation and deferment provisions that apply.
  • Those involved in the College’s Work Study Program have the right to know the type of jobs available, hours of work, duties, rate of pay, and payment schedule.
  • For a reconsideration of the aid package if you believe a mistake has been made or if your enrollment or financial circumstances have changed.
  • For an explanation regarding the criteria used to determine satisfactory progress.
  • What special facilities and services are available to students with disabilities.

It is your responsibility to:

  • Review and consider all information about the College’s programs before enrollment.
  • Register for courses that will fulfill the degree requirements.
  • Pay special attention to your application for student financial aid, complete it accurately, and submit it on time to the proper office. Errors can prevent or delay the receipt of financial aid.
  • Provide all additional documentation, verification, corrections and/or new information requested by either the Financial Aid Office or the agency to which you submitted your application.
  • Read and understand all forms that you are asked to sign, and retain a file copy.
  • Accept responsibility for the promissory note and all other agreements that you sign. If you have a loan, notify the Department of Education of changes in your name, address or school status.
  • Perform in a satisfactory manner the work that is agreed upon in accepting a college work-study job.
  • Know and comply with the deadlines for application or reapplication for aid.
  • Know and comply with the College’s refund procedures.