Mission
The primary mission of Financial Aid Office (FAO) is to administer all financial aid programs, to all eligible students who are admitted to the College of Micronesia-FSM (COM-FSM). Financial aid is provided by US Federal Department of Education, the FSM National Department of Education, the FSM states governments, and institutional sources consists of grants, scholarships, 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.
COM-FSM administers one U.S. Federal Student Aid (FSA) Program (Title IV) and students have to apply for it.
- Federal Pell Grant
Federal Pell Grant is a grant to help undergraduates pay for their education. For many students, Pell Grant provides the foundation to which aid from other federal and non-federal sources may be added. Federal Pell Grant does not have to be repaid.
The maximum award for the 2020-2021 Award Year (July 1, 2020 to June 30, 2021) is $6,345. The amount you will receive depends not only on your EFC, but also on the cost of your attendance at COM-FSM; your enrollment status as a full-time, three-fourth-time, half-time, or less than half-time student; and the number of semesters attended during the academic year.
Year Round Pell Grant:
Beginning summer 2018, Pell Grant eligible students can receive up to 150% of their scheduled Pell award each year. This means that if a student has exhausted Pell Grant for both fall and spring semesters, the student may qualify for a Pell Grant for summer provided the student is making satisfactory academic progress and is enrolling for at least 6 credits during the summer.
- Supplemental Education Grant (SEG)
The Compact of Free Association Amendments Act of 2003 eliminates eligibility for citizens of the Republic of the Marshall Islands and the Federated State of Micronesia who began their enrollment after June 25, 2004 are eligible for assistance from SEG program.
- SEG Work-Study Program
The SEG Work-Study Program gives students the opportunity to enroll at COM-FSM and participate in part-time employment to learn practical skills and earn money to help pay for their educational expenses. Students may work to a maximum of 20 hours per week while classes are in session and 40 hours per week when classes are not in session (Easter break, semester recess, etc.). Students are not eligible to work overtime hours.
SEG Work Study pay rate is at least the current COM-FSM minimum wage, and the total award depends on the available the funding level and students are paid biweekly.
SEG Work Study funds are made available at the beginning of each regular semester. Students have to apply to participate in the Program and are responsible to ensure that they do not work more than 20 hours per week or more than 40 hours biweekly. When a student earned his work-study award, s/he has completed the work-study for the given semester and must apply again for the next semester.
SEG Work study funds are limited and will be awarded to eligible students based on the set requirements as shown below.
- In order to be considered for SEG Work-Study, a student must:
- be in good financial aid status
- submit a completed pre-application for work-study
- be enrolled as a full-time student in a given semester
- be enrolled in regular classes and not classes of a preparatory program
- have completed and submitted FAFSA
- have completed and submitted all required financial aid documents
- have at least a cumulative grade point average (cum. G.P.A) of 2.5
- not be on any other work-study program
- Students must consult with financial aid staff at their campuses on how and when to apply for SEG Work-Study.
- The SEG Work-Study Program gives students the opportunity to earn money to help pay for their educational expenses by providing part-time work. College regulations limit students to a maximum of 20 hours per week while classes are in session and 40 hours per week when classes are not in session (Easter break, semester recess, etc.). Students are not eligible to work overtime hours.
- Work Study pay rate is at least the current COM-FSM minimum wage, and the total award depends on the level of need of a student and the funding level.
- The number of hours students are allowed to work depends on their class schedule, health, and academic progress. Students are paid biweekly.
- Work Study funds are made available at the beginning of the school year. If you are awarded Work Study, you should work out a schedule and carefully monitor the number of hours that you work per week and not exceed the amount awarded. Upon depleting your Work Study award, you will be terminated from your Work Study position.
It is the student’s responsibility to report to the Work-Study Coordinator for job placement/assignment. Failure to do so may result in cancellation of employment and the award.
- National and State Scholarships
- There are state scholarships (as well as grants and loans) available or offered through your own state government. The COM-FSM Financial Aid Offices provide assistance in filling out the state scholarship application form, completing and certifying the “expense section” of the form, and forwarding the applications to the respective state scholarship offices. Scholarship awards are made by the respective state scholarship offices.
- US Veterans Education Benefit Programs.
- The College of Micronesia-FSM is an approved educational institution for education and training under the US Veteran’s Educational Assistance Act (GI Bill). COM-FSM charges veterans and military service members the same tuition rate as all students and there is no in-state or out-of-state tuition differential.
All students who are eligible to receive financial assistance from the US Department of Veterans Affairs under Chapter 30 (Montgomery GI Bill Active Duty), 33 (Post-9/11 GI Bill), and 35 (Survivors and Dependents) are advised to contact the college’s School Certifying Official for clarification and explanation of awards before registering with their assigned advisor.
US VA School Certifying Officials (SCOs)
Doman Daoas,Registrar
Phone: (691) 320-2480 extension 133
| Email: daoas@comfsm.fm
Joey A. Oducado Vice President for Enrollment Management & Student Services
College of Micronesia-FSM
P.O. Box 159
Kolonia, Pohnpei FM 96941
Phone: (691) 320-2480 extension 121
| Email: joducado@comfsm.fm
Student Eligibility Requirements for Financial Aid
Before receiving any federal student aid, one must meet the general eligibility requirements listed in this section. In order to comply with the general eligibility provisions, a student must:
- Provide a copy of a high school diploma or a General Education Development (GED) certificate. The copy of the diploma or the GED certificate must be submitted with your application to the Office of Admissions & Records.
- Be accepted and enrolled as a regular student working toward a degree or certificate in an eligible program.
- Be a U.S. citizen or eligible non-citizen. (FSM, Palau, and Marshall Islands citizens are eligible non-citizens.)
- Have a “demonstrated” financial need. Your yearly educational expenses must be greater than the contribution you and your family can make toward these expenses.
- Maintain satisfactory academic progress once in school.
Application Information and Procedure
Application Information
To be considered for financial aid at the College of Micronesia-FSM, each applicant must complete and submit the required documents and forms identified below. Applications will not be processed until Financial Aid Office receives the required documents and forms, and an applicant has been officially accepted into a COM-FSM degree/certificate program.
To allow for processing time all applications for aid and supporting documents must be submitted to Financial Aid Office thirty days before the end of each regular semester.
New students should apply for financial aid when applying for admission to college. Financial aid cannot be awarded to applicants who are not officially admitted and enrolled at COM-FSM. Continuing COM-FSM students must reapply for financial aid each year.
