FINANCIAL AFFAIRS • 13
Budget Period To qualify for the three-month payment plan, student applications must be received by AMS by August 10 for the fall semester or December 10 for the spring semester. The budget period is August through October for the fall semester, and December through February for the spring semester. The AMS Tuition Pay Monthly Plan is not available for courses offered during the summer semester.
How to Apply for AMS To enroll in the Tuition Pay Monthly plan simply go to their Web site at www.tuitionpay.com and click on “enroll now.”
What If I Have Questions About My Account? There is always an account representative who can answer questions about your AMS account once it has been established. You can call 1-800-556-6684 and speak to your account representative. You may also contact the Student Accounts Office at (804) 289-8149.
FINANCIAL AID In addition to the scholarships named below, there are other sources of financial assistance available to students in the School of Continuing Studies. Generally, a student must be enrolled or unconditionally accepted for enrollment on at least a half-time basis (six credits) in an eligible degree or certificate program in order to be eligible for consideration for financial aid. (All SCS degree and certificate programs are eligible for financial aid consideration except the Leadership Studies, Liberal Arts and Performance Coaching Skills pre- and post-baccalaureate certificate programs.) In addition, the student must be a U.S. citizen or permanent resident (or other eligible non-citizen) and must be making Satisfactory Academic Progress (see below) toward his/her degree or certificate. Federal financial assistance is available in the form of Federal Pell Grants and Federal Direct Loans. Pell Grants are provided to low-income undergraduate students who have not already earned a degree but who are working toward a degree. Pell Grant recipients must be enrolled for at least three credit hours.. The grants do not have to be repaid. Federal Direct Loans are low interest loans for students who are enrolled in an eligible degree or certificate program (see exception noted above) for at least six credit hours. Annual loan limits vary from $2,625 to $18,500 depending on grade level and dependency status. Subsidized Direct Loans are available to students who demonstrate financial need; the federal government pays the accrued interest on these loans while the student is enrolled. Unsubsidized Direct Loans are available to students regardless of demonstrated need; students are responsible for accrued interest on these loans. Eligibility for the Federal Pell Grant and Federal Direct
Loans is determined by completion of the Free Application for Federal Student Aid (FAFSA) and the University of Richmond Financial Aid Supplemental Application. An additional loan application is required for the Direct Loan program. These forms are available from the Financial Aid office, Sarah Brunet Hall, web address: http://oncampus. richmond.edu/financialaid. (Tel: 804/289-8438, e-mail: finaid@richmond.edu) Please note that if you will need financial assistance in order to pay for your tuition charges, then the required applications must be completed at least six weeks prior to the start of the enrollment period.
Virginia Tuition Assistance Grant The Virginia Tuition Assistance Grant (TAG) is available to full-time students who are residents of Virginia and who are enrolled in a degree program. (The amount of the grant for the 2005-06 academic year was $2,500 for undergraduates and $1,900 for graduate students.) TAG applications may be obtained online at http://oncampus.richmond.edu/financialaid or from the Financial Aid Office. Deadline for applications is July 31.
Satisfactory Academic Progress The federal government requires that a student be making Satisfactory Academic Progress (SAP) toward his/her degree or certificate in order to remain eligible for consideration for financial aid. The University of Richmond’s SAP policy for the School of Continuing Studies students requires, by the end of the second semester and thereafter, achievement of a cumulative G.P.A. of at least a 2.0. In addition, students must pass at least 67% of the course work attempted. The maximum timeframe allowed for completion of a program is 150% of the program length. (For example, if the program requires 60 hours to complete, the maximum number of hours attempted to complete the program cannot exceed 90 hours.)
Return of Financial Aid When a Student Withdraws A student who withdraws during a semester may be entitled to a refund of certain charges as outlined in the Refund Policy (see Financial Information section of this catalog). Withdrawal may also affect a student’s financial aid eligibility for the semester as outlined in the federal Return of Title IV Program Funds Policy and the Return of Non-Title IV Program Funds Policy.
Return of Title IV Program Funds Policy The 1998 amendments to the Higher Education Act (HEA) of 1965 and subsequent regulations issued by the Department of Education (43CFR 668.22) establish a policy for the return of Title IV grand and loan funds for a student who withdraws. Title IV grand and loan funds incldue the following programs: Federal Direct Loans, Federal Pell Grant,