A student
receiving federal financial aid needs to be aware of federal financial
aid regulations. She must maintain “Federal Satisfactory Academic Progress”
which for Adas is measured at the end of each semester by comparing the
number of credits in which she was enrolled on the 15th day of the semester
(each term) with the number of credits she successfully completes.
A student with
federal aid is expected to successfully complete 75 percent of all
course work for which she was enrolled on the 15th day of the semester.
Drops (either “free drops” or drops after the 15th day of the semester
but
before the end of the fifth week of classes), withdrawals (either medical or
by permission of the Administrative Board), or failures are included in this
calculation. However, drops, withdrawals and failures within a tuition
band will NOT incur any penalty.
Continued financial aid eligibility requires
a minimum 75 percent completion
rate within the following academic year.
Example: Sophia was enrolled in 15 credits.
She dropped one 3 credit
course on the 20th day of the semester. Because Sophia remained in the
same tuition band she is considered to have a 100 percent
completion rate. If instead she dropped a 4 credit course she would be in the
lower tuition band and would have only a 67 percent completion rate and
would be placed on financial aid probation. The next year, Sophia is billed
and aided for 12 credits each semester and completes them all. She is now
off of probation, having regained a completion rate over 75 percent.
All Adas are eligible for financial
aid funding for a total of 132 credits,
including all transfer credits. This allows a 4-credit “mistake.” Barring
any
such errors, a student will have the opportunity to enroll in 4 extra credits.
There
is no institutional aid penalty for courses dropped through the 5th
week of the semester or for “free drops.” Courses dropped (excluding “free
drops”) after the 5th week of the semester, or courses failed, will be considered
“funded” and part of the 132 credit maximum.
Federal progress standards will take precedence
over institutional progress.
A student who is denied aid based on her federal completion rate will also
be ineligible for institutional aid. |
