Determination of Financial Aid
Financial need is the difference between your Cost of Education and your Expected Family Contribution. The Expected Family Contribution is the amount of family support you (if dependent) and your family (if dependent), should be able to contribute toward your college education.
Expected Family Contribution (EFC)
Your Expected Family Contribution is determined by the U.S. Department of Education from the information submitted on the Free Application for Federal Student Aid (FAFSA).
Student Housing Status
Your application for financial aid will be based in part on your housing status. Your can apply as a commuter, dormitory student or off-campus student (in an apartment or your own house). Your housing status is a factor in determining your cost of education. It is taken from what you state on the Free Application for Federal Student Aid (FAFSA). If your housing status is off-campus, you may be required to submit a copy of your lease or deed to the Financial Aid Office.
Full-time vs. Half-time Enrollment Status
The amount of financial aid you will receive depends on your enrollment status. A traditional undergraduate student must be enrolled in 12 or more credits per semester to be considered full-time; half-time status is considered between 6 and 11.5 credits per semester. Half-time students are entitled to certain types of federal and state aid.
How Your Grades Impact Your Financial Aid Eligibility
You are required to maintain satisfactory academic progress each academic year to renew your financial aid. The receipt of financial aid is a privilege that creates both rights and obligations. The United States Department of Education requires every post-secondary institution receiving federal funds (Title IV) to have an academic progress policy that is used to determine eligibility for and continued receipt of funds. To be eligible for financial aid, you must make satisfactory academic progress each year. This means that you must complete 24 credits each year and maintain a minimum cumulative Grade Point Average (GPA) of 1.75 for the first two years and 2.0 for the third and fourth years.Please refer to the College catalogue for the exact academic progress policy.
In divorce situations, it is the policy of the Department of Education to request financial information from the parent with whom you live more than half the time, regardless of who supports you. Any contractual agreements between your parents in a divorce settlement will also be considered. If the parent with whom you live remarries, this creates a new family, and the parent and the step-parent are expected to submit financial information on the Free Application for Federal Student Aid.