FIDM Financial Services Policies

1. FIDM reserves the right to modify or reduce the financial aid estimate. Modification may be based upon lack of necessary institutional funding, corrections or changes in data reported to the institution by the student or parent, documentation by the student or parent, receipt of additional awards from all sources, student changes in unit load or other reasons consistent with FIDM and/or governmental policies and procedures. All Financial Aid listed is only an estimate until it is awarded or disbursed.
2. If TIP (Tuition Investment Plan) financing is used to meet tuition, books and fees expenses, the applicant and/or parent or cosigner agree that the cost of the course will be increased by the total charges (i.e. interest, loan origination and servicing fees, etc.) associated with receiving the financing.
3. A late charge will be added to all past due bills. The applicant and/or parent or cosigner agree to pay a late charge consisting of an interest rate of 10% per annum in case there is a default on payment of the entire unpaid balance. If there is a default in payment of any of the installments, the entire unpaid balance shall become due and payable.
4. The applicant and/or parent or cosigner promise to pay all sums that a court may adjudge reasonable as attorney's fees in case suit is instituted to collect this unpaid balance or the portion thereof. The applicant and/or parent or cosigner promise to pay all collection fees in order to recover the unpaid balance.
5. Payment of all or any part of these Financial Aid awards is conditional on maintaining satisfactory progress for the course of the study; making measurable progress (2.0 GPA) toward the completion of the course of study and maintaining minimum enrollment of twelve (12) units each quarter for full-time benefits. Students wishing to take a Leave of Absence or less than twelve (12) units may forfeit the remaining balance of their Financial Aid Funds. These awards are granted during the fiscal year beginning July 1 through June 30. Students must re-apply annually.
6. The college must receive all payments as arranged before the student can register to attend class. Students on a Leave of Absence are required to continue payments as scheduled.
7. A student receiving any financial aid exceeding tuition cost will receive the excess amount upon overpayment. Regarding the following Federal, State, and Institutional programs: PELL, PERKINS, SEOG, STAFFORD, PLUS, CAL-GRANT A, B and C, FIDM SCHOLARSHIP, the student authorizes that the full amount to be applied to the total cost of the course. The student has the right to rescind this authorization, prior to disbursement, for the CAL-GRANT B Subsistence portion only.
8. The applicant and/or parent or cosigner give FIDM permission to perform a credit check, employment verification and/or request additional information, if necessary, to approve financing.
9. If the applicant decides not to begin the program on the original stated entrance date, FIDM will honor the Application fees and all enrollment documents received for one year from the original scheduled date of entry. If the cost of tuition is increased during this period, the new cost of tuition will apply.
10. If the applicant is an Associate Degree candidate in a two-year program, he/she must apply for acceptance and arrange for tuition for the second academic year during the second quarter of the first academic year. Financial clearance is required prior to each quarter for registration and for the continuation of classes. Academic programs must be completed as specified on the Application for Admission and exceptions can only be made by the FIDM Education Department. Any program that extends beyond one quarter from the completion time of this contract may be subject to a tuition increase of the unused portion. All debts and obligations must be met to qualify for graduation.
11. Students returning from any absence must reapply for financial aid upon returning to FIDM. Previously awarded financial aid may not be available upon return depending on funding levels and the remaining units in the student's program.
12. The FIDM Institutional Refund and Return of Title IV Funds Policies are required when the student withdraws or takes an Unapproved Leave of Absence. Withdrawals include academic dismissal, academic disqualification, and leaving the institution without proper notification. An Unapproved Leave of Absence occurs when the student will be taking a Leave of Absence which exceeds one quarter, or when the student has taken another leave within a 12-month period. Both policies are calculated by using the last recorded date of attendance (LDA). The first and last days of school used in the calculations are published in the FIDM School Calendar. All dates are subject to verification by college officials. A request for a Leave of Absence must be submitted in writing to the Student Advisement Office.