The Financial Aid Office has to comply with several institutional and federal policies. Students should be knowledgeable about these policies as they may directly affect some students.
Satisfying Academic Progress Requirement (SAP)
Satisfactory Academic Progress
For the purpose of satisfactory academic progress, financial aid includes all federal, state, and Emory & Henry College funded scholarships, grants, discounts, work, and loans.
The 150% Rule
The maximum timeframe for undergraduate students completed degree requirements is six years for full-time study and twelve for part-time study. Therefore, financial assistance will not be available beyond the maximum timeframes. For a degree requiring 120 credit hours to complete, financial aid eligibility ends after 180 credit hours are attempted. For a degree requiring 121 credit hours to complete, financial aid eligibility ends after 182 credit hours are attempted. Withdrawals and repeated courses will be counted toward total credits attempted.
Emory & Henry College institutional aid (scholarships and grants) is not available for more than eight (8) semesters—four (4) full–time years of study.
Students should also be aware that by completing the minimum 24 credit hours per year on a full-time basis would not allow the degree to be completed in four (4) years. Students enrolling for 12 credit hours per year on a part-time basis will not be able to complete the degree in eight (8) years.
To be eligible for continued receipt of financial aid, full-time students enrolled in a degree program must complete at least 75% of all attempted credit hours. Satisfactory progress standards are cumulative and will include all semesters of the student’s enrollment, even those for which the student did not receive student aid.
There is no Emory & Henry College institutional aid for part-time students taking less than 12 credits per semester.
Students whose status is split between academic year (full-time/part-time) will have their aid eligibility reviewed based on a pro-ratio of annual requirements for the appropriate semester. Satisfactory progress standards are cumulative and will include all semester’s of the student’s enrollment, even those for which the student did not receive student aid.
Grade Point Average Requirements - When progress is reviewed full and part-time students must meet the cumulative GPA requirement at their level of study. The levels of study are determined by the number of credits earned at the completion of each academic year. If the required CGPA is not met, the student is not eligible for financial aid until it is achieved:
Students are required to have a 1.7 cumulative GPA after their first semester of enrollment. Students are required to have a 1.8 cumulative GPA after their second semester of enrollment; and a 1.9 after their third semester of enrollment. Students are required to have a minimum of 2.0 cumulative GPA after four semesters of enrollment. If the required CGPA is not met, the student is not eligible for financial aid until it is achieved.
Exiting Emory & Henry College
Students graduating, transferring, or withdrawing from Emory & Henry College have requirements concerning the termination of student loans and federal financial aid. This process includes communicating with lenders, exit loan counseling, or requesting deferments.
Students who graduate from Emory & Henry must notify their student loan lender to indicate that they have graduated and to provide a new address and information about employment. Students enrolling in a graduate program, may defer payments on student loans until the completion of the graduate degree. Graduate students must obtain the loan deferment form from their lender to be filled out by the graduate institution. Students enrolled at least half-time in a graduate program can request student loan deferment.
Every graduating senior or student leaving Emory & Henry College, who received a federal Stafford loan while attending Emory & Henry College, is required to complete an exit interview. Students can satisfy this requirement by completing online exit counseling or scheduling an appointment to speak in person with the College’s loan coordinator.
Students who received a Perkins loan while attending Emory & Henry College must also complete exit loan counseling for Perkins Loan. Students can satisfy this requirement by completing the exit loan counseling at http://www.mycampusloan.com/.
It is important that students begin repaying loans promptly. Remember: students are to notify the lender of completion of studies at Emory & Henry College and of changes in address, enrollment, and employment. The repaying your student debt information sheet provides tips for students.
Students may schedule appointments to meet with financial aid staff or attend group sessions to learn more about repaying student debt.
Transfers & Withdrawals
It is important for students that transfer out of Emory & Henry or withdrawal from the College to understand that lenders expect payments to begin six months after the last date of attendance at Emory & Henry College.
Students that continue at least half-time in a degree program should apply for an in-school deferment through the lender. This process involves taking the lender-provided deferment form to the Registrar’s Office of the new institution. Be sure to complete the portion releasing the new institution to provide enrollment information as well as providing the name and address of the lender in the appropriate place on the form. Their office will certify enrollment and forward the form to the lender.
It is important to follow up with the lender two to three weeks after the beginning of the term to be sure they have received the deferment form. This step may need to be completed more than once before a student finishes his or her education. Do not ignore communications from lenders regarding payments.
Aid at Emory & Henry College does not transfer to another institution. Students must re-file the FAFSA including the new institution’s Title IV code and work with the new Financial Aid Office to determine eligibility.
Any undisbursed aid at Emory & Henry College will be cancelled when the E&H Financial Aid Office is notified by the Dean of Students Office that a student has completed formal withdrawal procedures, or non-enrollment is confirmed at the beginning of the next term. To speed the process, complete proper exiting procedure through the Dean of Students Office.
Students leaving the College should complete exit loan counseling (Stafford and Perkins, if applicable) to prevent loans becoming delinquent or in default. Students are urged to stay in contact with lenders concerning changes in address and employment.
Failure to repay student loans adversely affects credit ratings, making it difficult to obtain a mortgage or car loan in the future.
Return of Title IV Funds
Students that withdraw before the end of a semester, depending upon the length of your enrollment, may see a portion of federal Title IV funds returned to the U. S. Department of Education or lender as directed by federal regulations.
Students that withdraw or take a leave of absence from school before the end of a semester should immediately notify the Dean of Student’s Office and complete the withdrawal process. Each day a student is categorized as enrolled will affect the charges on the student’s account and available financial aid available to pay those charges.
Remember, it is possible for a student to be fully charged by the College for tuition, room and board, and have a portion or all of your federal Title IV funds returned to their source. As a result, students could have a balance due to the College.
For information about proration of charges, see the Refund Policy in the academic catalog. For more information about return of federal Title IV funds please contact the Financial Aid Office.