Financial aid & Scholarships

Student Financial Aid Policies

Financial aid is monetary assistance provided to students who seek higher education at Fei Tian College. It is generally expected that the cost of a U.S. college education will be borne by students and/or their families.

However, FTC Cuddebackville administers financial aid programs on the basis of merit and need. Financial aid is awarded for the academic year, or portion thereof, during which a student anticipates being enrolled. Should a student discontinue a portion of that enrollment period or change enrollment status, appropriate adjustments will be made to the student’s award in accordance with the return and refund policies in effect at the College.

Types of Financial Aid Available at the College

FTC Cuddebackville strives to provide various forms of financial aid to students who are talented and motivated to pursue advanced studies at Fei Tian but demonstrate a need for financial support.

Scholarships offered at FTC Cuddebackville for the 2021-2022 academic year are as follows:

Description
Amount
Tuition and Fees Waiver
$32,500
Room and Board
$7,580
Supply Assistance
$2,320
Transportation Assistance
$1,140
Full College Scholarship
$43,540

Scholarships to be offered at FTC Cuddebackville for the 2022-2023 academic year are as follows (subject to change):

Description
Amount
Tuition and Fees Waiver
$33,580
Room and Board
$7,880
Supply Assistance
$2,420
Transportation Assistance
$1,180
Full College Scholarship
$45,060

Under this type of scholarship, the student does not pay tuition or fees for educational costs, including, but not limited to, costs associated with instruction received, academic and other student services, and institutional supports.

Under this type of scholarship, the student receives free housing and meals on campus.

Under this type of scholarship, the College provides the student with the necessary academic and artistic supplies required for instruction (e.g., textbooks, dance clothing and equipment).

Under this type of scholarship, the student receives assistance to pay for the transportation expenses associated with participating in the program.

This type of scholarship provides a total tuition and fees waiver, room and board, supplies assistance, and transportation assistance. Personal expenses are not covered.

Other Sources of Financial Aid

The Office of Admissions and Records provides information on other sources of financial aid. Because FTC Cuddebackville plans to provide a sufficient number of scholarships to all students in need, however, it is not anticipated that students will require financial assistance from other sources.

Financial Aid Application Procedure

Scholarships are normally awarded on a yearly basis with the possibility of renewal. Outstanding students may be awarded multiyear scholarships. Except under extraordinary circumstances, only full-time students are eligible for the Full College Scholarship and Tuition and Fees Waiver.

Decisions on admission and scholarships for new students are made at the same time.

In order to be eligible for a renewal of financial aid, continuing students must be in good standing at the College, which includes making satisfactory academic progress.

A student seeking financial aid should complete the College’s Financial Aid Application and submit it to the Office of Admissions and Records.

Standards for Financial Aid Recipients

Students receiving financial aid are expected to remain in good standing at the College. Failure to maintain good standing can result in sanctions, including but not limited to revocation of financial aid.

There is an academic progress review at the end of each semester. A financial aid recipient demonstrating unsatisfactory academic progress may be placed on academic probation for the next semester. During the probationary period, financial aid will still be available. But if the student fails to demonstrate satisfactory academic progress the next semester, the financial aid will be revoked.

After the revocation, the student may reapply for financial aid if the student is able to meet the end-of-semester review standards for satisfactory academic progress in the following semester.

Return and Refund of Financial Aid

A student who receives financial aid and subsequently drops a course(s) may have his/her financial aid award adjusted pro rata to match tuition assessment. However, in the case of a student who receives a scholarship that requires full-time enrollment then drops below full-time status, the scholarship will be canceled for that semester. Any time a student withdraws from a course, scholarship eligibility could be in jeopardy.

If the student does not enroll in FTC Cuddebackville or enrolls and then separates from the College, (s)he may be required to return any “unearned” portion of financial aid received. If the student receives federal, state, or private financial aid, (s)he must comply with that institution’s policies on financial aid refunds.

The resulting College bill may show a credit and/or charges in the student’s financial account. Before a refund can be issued, any existing credit must be applied toward the financial aid programs that administered financial aid.

If a student who receives a Fei Tian College scholarship separates from the College, the Tuition and Fees Waiver ends the day after the official date of separation from the College, and Room and Board ends within 48 hours of the official date of separation from the College.

Non-attendance and/or failure to officially separate from the College may result in the cancellation of financial aid and all charges being billed to the student.

Federal Tax Credits for Educational Expenses

The Taxpayer Relief Act of 1997 created two non-refundable education tax credits, entitled the Hope Scholarship Credit and the Lifetime Learning Credit. A non-refundable tax credit allows a taxpayer to subtract from the total amount of taxes owed the value of the credit for which the individual is eligible. “Non-refundable” means that the individual must owe taxes in order to get the value of the credit.

Individuals must meet specific income and enrollment guidelines to be eligible. Students should consult the Taxpayer Relief Act of 1997 or the Internal Revenue Service for details.