Financial Aid

Financial Aid

Mission

The primary mission of Financial Aid Office (FAO) is to administer all financial aid programs, federal or local in compliance with applicable law and regulations and maintaining integrity, accuracy and timeliness in the delivery of financial assistance to all eligible students admitted to the College of Micronesia-FSM (COM-FSM) to help students pay for their educational expenses. Financial aid is provided by federal, state, and institutional sources and consists of grants, loans, and work-study.

Types of Financial Assistance

Financial assistance may be in the form of:

GRANTS and SCHOLARSHIPS which do not have to be repaid provided you attend classes, do not drop classes, or withdraw from COM-FSM; and

WORK-STUDY that provides opportunity to work and earn money for educational expenses.

Aid from the student aid programs is awarded based on financial need. Financial need is defined as the difference between a student and/or his/her family's expected contributions and the student's annual educational expenses. The steps for determining your financial need are: