Why was I able to receive financial aid in the past when I enrolled in co-op programs before?
The Office of Financial Aid at UNC Charlotte is always reviewing federal regulations to ensure compliance with federal guidelines. After reviewing the university’s co-op program, it has been determined that the co-op course is NOT REQUIRED for any program of study at UNC Charlotte. There are two conditions for co-op student(s) to be eligible for Title IV financial aid (1) the school has to consider co-op students to be the equivalent to full-time status and (2) the co-op course has to be required for their program of study. Since co-op is not required at UNC Charlotte, any student enrolled in a co-op course only would NOT be eligible for financial aid that given term.
Will a student be eligible for financial aid if they register for other courses along with their co-op course during the same term?
Students may be eligible for financial aid and should check with the Office of Financial Aid to determine eligibility.
Will students have to begin repayment of their student loans in their co-op term since there’s zero credit for the co-op program?
Co-op students are considered full-time status during the term(s) of the co-op course. Student will remain in an in-school deferment status for loan repayment purposes and will not have to begin repayment during their co-op term.
Would co-op students be eligible for an alternative loan for the co-op term?
Yes. Co-op student are eligible for an alternative loan for the co-op term as long as they meet the lender requirements for the loan. The Financial Aid Cost of Attendance budget for the term would reflect full-time amounts however the tuition and fee component would be adjusted to $60 for the co-op fee.
Would co-op students be eligible for any type of scholarships?
Possibly. If the student meets the requirements of the scholarship then they would be able to receive it for the co-op term.
Can co-op students receive the health insurance during the co-op term(s)?
Co-op students are not charged the health insurance premium. Students would need to contact the Student Health Center to inquire if co-op students could purchase the health insurance on their own.
When will this new policy begin for co-op students?
Students who are only taking a zero credit co-op course for the Fall 2015 term and beyond will not receive financial aid.
What can a student do if they need assistance for living expenses, transportation expenses, etc.?
Co-op students can apply for an alternative loan if they meet the lender’s requirements. Students will need to check with their lender of choice to see if they qualify.
Can a co-op student apply for a short term loan?
Yes, Co-op students can apply for a short term loan from the Office of Financial Aid, as long as they meet all of the qualifications. Students may check with the Office of Financial Aid for more information.