Undergraduate Catalog - University of Louisiana at Monroe

2012-2013 UNDERGRADUATE CATALOG
• The amount of Title IV Funds that the school must return
to the Title IV Program is calculated by multiplying the
total institutional cost by the percentage of unearned aid.
If the percentage of earned aid is greater than 60%, the
student does not have to return Title IV Aid.
RESIGNATION WITHDRAWAL POLICY
After enrolling in classes, a student who wants to resign
must:
• Consult the ULM Schedule of Classes for dates and
times to drop classes and notify the Residential Life
Office to cancel a Room and Meal Contract if such
contract was requested by the student.
OR
• After the registration period, notify the Registrar’s Office
in writing to cancel classes and notify the Residential
Life Office in writing to cancel a Room and Meal
Contract.
• Merely discontinuing class attendance is not considered
to be a formal resignation from the University. Students
who discontinue class attendance who fail to follow
the established resignation procedure will be held
responsible for all tuition and fees.
ALSO
• Students who receive Federal Financial Aid and who
stop attending classes without officially resigning are
subject to the Return of Title IV Funds (see above). The
student’s professors will be contacted to verify the last
date of class attendance.
Federal Loans
Applicants for all loan programs must
complete the FAFSA.
The HEALTH PROFESSIONS LOAN PROGRAM
is available to full-time students enrolled in Pharmacy.
Students determined to have exceptional financial
need and who are making satisfactory progress toward
graduation are eligible for this program. The interest rate
on the loan is 5% and repayment of the loan begins 12
months after the student graduates, drops below full-time,
changes his/her major, or withdraws from the University.
THE DIRECT SUBSIDIZED LOAN PROGRAM
provides affordable loans to students that are enrolled
at least half-time, are meeting the minimum standards
of Satisfactory Academic Progress, and have been
determined to have unmet financial need as defined
by federal guidelines. The amount of eligibility varies
depending on the amount of the student’s unmet need
and the number of academic hours earned to date. The
interest accrued on the loan is paid by the government
and principal payments are deferred as long as the
student remains enrolled on at least a half-time basis and
meets certain other pertinent criteria. Repayment of the
loan begins 6 months after the student graduates, drops
below half-time, or withdraws from the University.
FINANCIAL AID 39
THE DIRECT UNSUBSIDIZED LOAN PROGRAM.
Loans are available to students on a non-need basis.
While appropriately enrolled in school, the student has the
option of paying the accrued interest on the loan while or
allowing the interest to be capitalized into the balance of
the loan. Principle and interest payments begin six months
after the student graduates or drops below half-time
enrollment status.
THE ALTERNATIVE LOAN PROGRAM is offered to
students by lenders; however, the interest rates and loan
terms vary from lender to lender. Therefore, it is a good
idea to research these alternative loan programs before
you apply. The loan amount awarded is not to exceed the
Cost of Attendance (less other aid received). Students
must apply on-line for this loan at http://finaid.ulm.edu.
Click on Financial Aid for Fall 2011/Spring 2012 to see
information concerning this type of loan. (Note: This loan
should only be considered when your loan options for
the Direct Loan program have been exhausted. A FAFSA
must be completed before an alternative loan can be
awarded.)
Student Employment
The student employment program provides a large
number of students with the opportunity to earn part of
their expenses by working in the Library, Post Office,
academic and administrative offices, and many other
areas on campus. Student workers devote ten to twenty
hours per week to their campus jobs. Each department
coordinates a work schedule for the assigned student
workers based in part on the total amount each student
is allowed to earn. Campus employment is coordinated
with all other forms of financial aid available to a student.
Federal applications may be obtained from high school
principals, counselors, or on-line at www.fafsa.ed.gov.
Student workers earn federal minimum wages.
The Office of Financial Aid Services, along with
various academic departments, assists students in
obtaining off-campus employment. Businesses in Monroe
and West Monroe employ hundreds of students in parttime
and full-time jobs. Applicants for all federal work
programs must complete the FAFSA.
Grants
Grants, unlike loans, do not have to be repaid.
Applicants for all grant pro grams must complete the
FAFSA.
The FEDERAL PELL GRANT PROGRAM was
established by the Higher Education Act of 1972 to
provide needy students with financial assistance
in meeting the costs of a college education. They are
awarded to undergraduate students who have not earned
a bachelor’s or professional degree and who are making
satisfactory academic progress toward a degree. The
amount awarded to a student varies depending upon
the amount of financial need determined through the
Free Application for Federal Student Aid. The federal
government determines the maximum Pell Grant award.