| Before Receiving Financial Aid for the: | A Student Must Complete: | With a Cum. GPA of: |
| third semester | 21 credits | 1.5 |
| fifth semester | 54 credits | 1.6 |
| seventh semester | 84 credits | 1.8 |
This schedule excludes Summer Session attendance. A student who fails to satisfy the minimum standards at a preliminary progress check in May has the opportunity to earn credits and meet the requirements in the following summer session.
Except when there are mitigating circumstances no undergraduate will be eligible to receive financial assistance for more than eight semesters.
Satisfactory academic progress will be reviewed annually prior to the beginning of each academic year. Maintaining satisfactory academic progress is not the same as remaining "in good standing"according to the standards of the individual schools of the University. Each school will have additional conditions (such as area requirements and major requirements) which must also be fulfilled to remain "in good standing." As a result, even though an undergraduate may meet the minimum requirements for continued receipt of financial aid, the student may not be permitted to continue enrollment because of failure to remain in good standing according to conditions established by the Dean of the student's school.
Any student receiving financial aid who does not meet the satisfactory progress requirements and whose aid must be withdrawn will be given written notice. The student is responsible for seeing that the Office of the Registrar has a correct mailing address at all times.
Right of Appeal Any student whose financial aid has been terminated may submit a written appeal to the Office of Financial Aid, explaining why satisfactory progress was not maintained and giving any reason why aid should not be terminated. Accompanying documentation from the student's dean is recommended.
Re-establishing Satisfactory Progress After financial aid has been withdrawn, students may re-establish satisfactory academic progress by either of the following methods:
Eligibility for Federal Aid To receive federal financial aid you cannot be in default on a Federal Perkins Loan, a Federal Stafford Student Loan, a Supplemental Loan for Students (SLS) or a Ford Federal Direct Loan received for study at any post-secondary institution nor can you owe any refund on a Federal Pell Grant or Federal Supplemental Educational Opportunity Grant previously awarded at any post-secondary institution.
Refunds for Students who Receive Federal Assistance Through Any Program Although the Refund Policy stated in Chapter 4 is the official University policy, federal regulations may dictate a different refund policy for students receiving assistance from any federal grant or loan programs. In making refunds to these students, the University must compare the refund amount made available to the student through the University policy and the federal refund calculation. In general, the federal calculation requires a specified percentage of refund determined by the elapsed percentage of the term in question.
| Elapsed % of term | Refund % |
| 0 | 100 |
| 10 | 90 |
| 25 | 50 |
| 50 | 25 |
The refund to the student will be determined using the formula providing the greater refund amount.
Refunds for Students who Receive Federal Aid and Withdraw During Their First Semester The procedure for refunds to students attending the University for the first time is different, and must be pro rata for any date of withdrawal prior to the sixty percent point in the semester. In this instance, the refund to the student must be a "pro rata refund"of all tuition, fees, room, and board charges as determined by the last recorded date of attendance.
Receiving a Non-University Award In the event that you receive assistance from a non-University source (scholarship or loan), the University will normally reduce University-awarded financial aid. In any case, it is your responsibility to notify the Office of Financial Aid of this outside award.
Change in Financial Situation It is your responsibility to notify the Financial Aid Office of any changes in your financial situation during the year.
If you do not complete the semester, a grant award will be prorated and the unused portion cancelled.
Student's Responsibility If you do not receive your payment, it is your responsibility to obtain from the Office of the Bursar any amount due as a result of an award balance remaining after payment of University charges.
Payment Inquiries All inquiries regarding semester bills and balance-of-award checks should be made at the Office of the Bursar, Carruthers Hall (924-4265).
Federal Perkins Loan No interest is charged while you are attending school (graduate or undergraduate) on at least a half-time basis. Repayment begins six or nine months after you leave school. At that time, interest will begin to accrue at a rate of 5 percent each year with a minimum yearly payment of $360. Repayment may be spread over a 10-year period from the date of the first payment.
Federal Nursing Student Loan No interest is charged while you are attending school (graduate or undergraduate) on at least a half- time basis. Repayment begins nine months after you leave school. At that time, interest will begin to accrue at the rate of 5 percent each year with a minimum yearly payment of $180. Repayment may be spread over a 10-year period from the date of the first payment.
Disbursement Procedure One-half of your loan will be applied directly to your university account each semester as soon as you register as a full-time student. You will be required to sign a promissory note each semester at the Student Loan Section, Carruthers Hall.
Failure to Sign Promissory Note If you fail to sign your promissory note by October 15, your loan for the entire academic year will be cancelled. If you fail to sign your second semester promissory note by February 15, your loan for that semester will be cancelled. If your loan is cancelled, you will be billed by the Bursar for the balance due to the University.
Exit Interviews It is your responsibility to have an exit interview prior to leaving the University or in the event you register as less than a half-time student. As a degree applicant you should be contacted by the Student Loan Section of the Bursar's Office prior to graduation to schedule an exit interview. If you are not contacted, if you withdraw, or if you register as less than a half-time student, it is your responsibility to contact the Student Loan Section to schedule an exit interview. During the exit interview you will be advised of your rights and responsibilities, given the opportunity to ask questions, and provided a repayment schedule. If you fail to complete an exit interview, a hold will be placed on your official grade transcript record.
Federal regulations require that the initial disbursement of Ford Federal Direct Loans for first-year entering undergraduates be held for 30 days after the date of the first registration.
If a student receives other financial aid after the promissory note has been signed and returned, the loan amount will be reevaluated for loan eligibility by the Financial Aid Office. In the case of an "overaward" one or both of the loan disbursements may be reduced or canceled. If a student fails to enroll in credits sufficient to permit the Office of the Bursar to credit funds to the student's university account, the loan will be cancelled within 30 days of registration.
Entrance and Exit Interviews
Employment Regulations Students normally work between eight and fifteen hours per week when classes are in session and, in some instances, may elect to work up to 40 hours per week during vacation periods. No student will be paid less than the federal minimum wage.