College Catalog - SUNY Adirondack

FINANCIAL AID
20
feDeral aID reCalCulatIon
After you have been proven eligible for federal aid (Pell, ACg, and SEOg grants, work-study, subsidized/unsubsidized
Stafford loans and PlUS loans), you must maintain a certain number of credits to continue to be eligible
for aid for the current semester. If your enrollment changes, your aid must be adjusted. The information below
should help explain how a student’s federal Pell grant may be adjusted due to a change in enrollment.
1. SUNY Adirondack is required to recalculate a student’s initial federal Pell grant for any student who does not
begin attendance in all of the credits which were used to determine the initial award. The revised award will
be based on the number of credits a student actually attends. The full-time payment schedule will be used for
students in 12 or more credits. The three-quarter time schedule will be used for students in 9 to 11 credits. The
half-time schedule will be used for students in 6 to 8 credits. The less than half-time schedule will be used for
students enrolled in less than 6 credits. In order to count towards eligibility for financial aid, credits must be
requirements for your SUNY Adirondack degree or certificate.
2. In addition to the above, a student’s federal Pell grant is recalculated if his/her enrollment status changes
during the bill adjustment period (the first three weeks of classes) including classes that are identified as “no
show” by professors. Students are encouraged to visit the financial Aid Office for a review of the consequences
of dropping a class during this period. Students will receive the award amount provided on the federal Pell
grant schedule appropriate for the eligible credits in which they are enrolled as of the end of the bill adjustment
period.
3. A student’s federal Pell grant must be adjusted if he/she completely withdraws from all credits prior to completing
60% of the semester. This student would be subject to the federal government’s Return of Title Iv
(federal) funds regulations. Also, professors may administratively withdraw a student at the 50% point for
poor attendance. We advise students to meet with a financial aid administrator prior to withdrawal to review
options and financial consequences.
return of tItle IV (feDeral) funDS
A federal aid recipient who completely withdraws from all classes before completing 60% of the semester will
have his/her federal aid re-evaluated to determine what portion of the aid was earned versus what portion must
be returned. A student is considered not to have earned all of his/her federal aid if he/she withdraws during the
first 60% of the semester. This federally-mandated formula is adjusted for summer attendance. The formula is
as follows:
1. The College will determine the percentage of time the student was enrolled as of the student’s last documented
date of attendance.
2. The College will determine the amount of aid earned by the student.
3. The College will compare the amount of aid earned to the amount of aid disbursed. This step determines
whether a late disbursement is due to the student or whether funds must be returned to the Title Iv programs.
4. The College will allocate the responsibility for returning unearned aid between the school and the student.
5. The College will distribute the unearned funds back to the Title Iv programs according to the following distribution:
> Unsubsidized federal Stafford loan
> Subsidized federal Stafford loan
> federal Parent loan for Undergraduate Students
> federal Pell grant
> federal Supplemental Educational Opportunity grant (SEOg)
> federal Academic Competitiveness grant (ACg)
This policy does not impact the tuition and fees a student is charged for the semester.
suny adirondack 2010/12