need based aid

Most types of financial aid are based on need. Need is the difference between the cost of education (direct and indirect costs) and the amount a family is expected to contribute toward these costs.

A family’s expected contribution is determined by a standard federal formula, calculated by the Free Application for Federal Student Aid (FAFSA). It is referred to as an Estimate Family Contribution or EFC.

To be eligible for financial aid, a CVA student must:

• Complete the Fee Application for Federal Student Aid (FAFSA).
• Be enrolled at CVA .
• Be a U.S. citizen or permanent resident.
• Be registered with Selective Service (If you are male).
• Not be in default on any educational loan or owe a refund or state grant, and maintain a satisfactory academic progress towards a degree.

Some types of financial aid may require full-time enrollment. Financial aid is prorated for part-time students according to their course load. Financial aid for second-degree students is limited to the CVA Grant and student loan.

CVA Grant
CVA awards tuition grants in varying amounts to enrolled students, depending on demonstrated financial need. A 2.5 cumulative grade point average is required for retaining the CVA Grant. In order to renew the CVA grant, the FAFSA must be submitted and the CVA Application for Financial Aid received no later than April 1st each year.

Federal Pell Grant
The Federal Government awards Pell Grants, based on FAFSA results, to students who are U.S. citizens or permanent residents enrolled in a degree-granting program. Full time enrollment for this grant is 12 credits per semester.

Federal SEOG
The SEOG is a federally sponsored program administered by the college for students demonstrating exceptional financial need. Awards are based on need, as determined by your FAFSA, availability of funds, and the amount of aid received from other sources.

Academic Competitiveness Grant
The Federal Government awards the ACG Grant to students who are eligible for Federal Pell Grants, who have completed a rigorous high school program of study, and are enrolled full-time in their first or second year of a degree-granting program.

Minnesota State Grant
This grant is available to Minnesota residents only (residency is determined by program). State grant guidelines determine the amount of the award based on need and credit load. Full time enrollment for the MN State Grant is 15 credits per semester.