Student Handbook - Butler University
Student Handbook - Butler University
Student Handbook - Butler University
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olled full-time for the fall semester by May 15. We will accept your FAFSA after the stated dates, but there<br />
is no guarantee of gift assistance from <strong>Butler</strong> <strong>University</strong>. Graduate students and students who already have a<br />
bachelor’s degree are eligible for student loans only.<br />
Financial Aid Programs<br />
Financial aid at <strong>Butler</strong> <strong>University</strong> includes merit and talent awards and need-based aid. These awards<br />
may be in the form of scholarships and grants — gift aid that does not have to be paid back; or self help,<br />
such as the federal student loans or student employment — aid that must be repaid or earned. In addition<br />
to the traditional sources of financial aid, financing options are available to help all families pay the bill by<br />
maximizing their resources.<br />
• Merit and talent awards consist of scholarships or awards based on academic achievement or performance<br />
ability. These tuition specific awards are normally awarded to incoming freshmen only and<br />
available for four years of full-time undergraduate enrollment and often carry specific requirements<br />
such as GPA, academic performance, etc.<br />
• Need-based aid, such as federal, state and <strong>Butler</strong> grants, is based on the family’s financial aid eligibility.<br />
The information reported on the FAFSA determines a family’s ability to contribute (financial<br />
strength). The formula for determining financial aid eligibility is: cost of attendance (tuition, room<br />
and board, books, transportation and personal allowance) minus the family’s ability to contribute<br />
(EFC) as determined by the information provided on the FAFSA.<br />
Financial aid guidelines<br />
• The combination of all financial aid may not exceed the total cost of attendance for any given year.<br />
Tuition-specific awards cannot exceed the tuition charges and certain combinations of aid programs<br />
cannot exceed the student's financial aid eligibility.<br />
• Your eligibility for financial aid and the programs for which you qualify may vary each year as your<br />
family’s financial circumstances fluctuate, college costs increase, funding levels change and your academic<br />
standing changes. Therefore all families are encouraged to file each year.<br />
• Verification is a federal requirement which requires <strong>Butler</strong> <strong>University</strong> to obtain documentation that<br />
supports the information provided on the FAFSA. Financial aid will be offered after the Office of<br />
Financial Aid receives all requested documents.<br />
• Satisfactory Academic Progress (SAP) requires financial aid recipients maintain a 2.0 GPA. In addition<br />
to the GPA, progress is measured by credits earned in relation to those attempted and the<br />
length of the academic program.<br />
Financial aid notification and disbursement<br />
• Financial Aid Notification – Once the financial aid you qualify for has been determined you will be<br />
notified through your <strong>Butler</strong> email account. You may review your financial aid anytime at<br />
http://my.butler.edu - self service - student center – finances – review/accept/decline financial aid.<br />
• The last day you may submit a complete application for an education loan (federal and private) is<br />
one week prior to the end of the semester. Applications received after this date can not be processed.<br />
• You will be notified if revisions to your aid are made due to new information such as outside scholarships<br />
not previously reported.<br />
• When you review the Financial Aid Notification, you must accept or decline each award offered, select<br />
a lender, sign the master promissory note (MPN) if you are accepting a student loan and report<br />
any outside scholarships you may be receiving for the academic year.<br />
• If an outside scholarship is not on your notification, assume that the Office of Financial Aid has no<br />
knowledge of this award or the amount. Contact the Office of Financial Aid with all available information<br />
(e.g., award letters from the donors for all awards).<br />
• Receiving a Financial Aid Notification does not mean your bill is paid in full. It is your responsibility<br />
to compare your financial aid with your bill from the Office of <strong>Student</strong> Accounts to determine<br />
the amount you owe and make payment arrangements with the Office of <strong>Student</strong> Accounts.<br />
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