Co-op: Financial Aid

Most scholarship and financial aid programs allow students to participate in the Cooperative Education Program with no loss of eligibility and with renewal requirements that take into account those terms students are on assignment.

Because participation in the co-op program requires students to be on assignment during regular academic semesters (i.e. spring and/or fall semester) it is important for each individual to verify the renewal requirements of his/her scholarships and financial aid with the Financial Aid office.

Please note changes to the 2010-11 FAFSA:
A change on the 2010-11 Free Application for Federal Student Aid (FAFSA) will significantly benefit co-op students who were on assignment in 2009.  Earnings from a co-op assignment will now be excluded from the student's adjusted gross income for the purposes of calculating the expected family contribution (EFC) used to determine financial aid eligibility.  In the past, co-op students had an artificially high income in the years in which they held one or two co-op assignments, which sometimes caused them to receive less financial aid the following academic year.  On the 2010-11 FAFSA, students should enter their actual adjusted gross income, but also enter co-op earnings when asked for "earnings from work under a cooperative education program offered by a college."  Students who are notified that they are selected for Verification should submit their W-2 forms (designated as co-op if applicable) when they submit their tax returns to the Office of Student Financial Aid.  Please note that this change does not affect any IRS rules, and co-op earnings are still taxable.

For more information, contact the financial aid office in Sikes Hall at (864) 656-2280 or visit the Financial Aid Web site