FEDERAL STAFFORD LOAN PROGRAM The college participates in the Federal Stafford Loan Program. Students must have a 2.25 GPA and be in good standing to be eligible for loan. Up to $3500 per academic year may be borrowed by qualified first-year students. Qualified sophomores may be eligible for up to $4500. Student Stafford Loan and Parent PLUS Loan applications are available online. Certification of the student’s enrollment and loan amount is validated by the Financial Aid office. Stafford loans may be subsidized and/or unsubsidized. Subsidized loans are interest and payment free during college attendance. Unsubsidized loans require interest to accrue on the principal of the student’s loan. Repayment of a Federal Stafford Loan or Plus Loan begins six months after a student completes his/her course of study.
SATISFACTORY ACADEMIC PROGRESS In accordance with the U.S. Department of Education regulations (Public Law 94-482), a student receiving federally funded financial assistance must be “making measurable progress toward the completion of his/her course of study” in order to continue receiving financial assistance. The standards have a quality component (GPA) measured against a quantitative component (number of credits attempted). Transfer students are subject to the same policy regarding length of time and grade point average. All transfer transcripts must be received in the Registrar’s Office and must be evaluated before academic progress can be determined. The Satisfactory Academic Progress Standards are as follows for degree-seeking students: 1. Students with 1-31 total cumulative attempted semester hours must have completed those semester hours with at least a 1.80 cumulative GPA to advance to the next level. 2. Students with 32-63 total cumulative attempted semester hours must complete those semester hours with at least a 1.90 cumulative GPA to advance to the next level. 3. Students with 64-91 total cumulative attempted semester hours must complete those semester hours with at least a 2.0 cumulative GPA to advance to the next level. The Satisfactory Academic Progress Standards are as follows for certificate-seeking students:
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Certificate Programs 32 credit hours or less: Students with 1-32 total cumulative attempted semester hours must complete those semester hours with at least a 2.0 cumulative GPA to advance to the next level. Certificate Programs of 33 credit hours and above: 1. Students with 1-31 total cumulative attempted semester hours must have completed those semester hours with at least a 1.90 cumulative GPA to advance to the next level. 2. Students with 32-59 total cumulative attempted semester hours must complete those semester hours with at least a 2.0 cumulative GPA. Students can receive financial aid for no longer than 150% of the total hours required for the degree or certificate. This includes F’s, W’s, I’s, CR’s, P’s, Audits and Repeated Courses. Students with 3 or more hours of enrollment in any semester must complete 60% of the attempted hours to remain in good standing. Students who complete 40-59% of the semester hours attempted may be placed on financial aid probation. Students who complete less than 40% of the semester hours attempted are subject to Suspension from receiving Title IV student financial aid and institutional aid the next subsequent semester of enrollment. A certified letter, explaining consequences, will be mailed to students who fail to meet these satisfactory academic progress guidelines. A student on financial aid probation who fails to raise his/her cumulative grade point average to the required minimum after a regular (Fall and Spring) semester will be placed on financial aid suspension until he/she has earned the deficient number of hours and GPA at the student’s own expense. Students may appeal suspension. A suspended student may apply for reinstatement of their financial aid by submitting a written appeal within 3 days prior to the beginning of the subsequent semester. The petition must be submitted to the Director of Financial Aid. The petition will then be reviewed and decided upon by the Financial Aid Appeal Committee. Financial Aid appeals are separate and independent from academic appeals. The Financial Aid Appeal Committee may elect to approve the petition as submitted, to approve the petition with conditions (e.g., delayed disbursement), to uphold suspension, or to take additional action. If the student is reinstated for financial aid, he/she will automatically be placed on probation. Once placed on probation or suspension, the student will need to enroll and sufficiently complete