Financial Aid Handbook - Elizabethtown College

Additional Education Loans
After taking into account the Monthly Payment Plan and Direct Student Loan,
students and parents may find the need for additional financing. Two main
sources to consider are the Direct Parent PLUS Loan and/or private education
loans.
Parents of dependent undergraduate students may borrow the Direct Parent
PLUS Loan for which the U.S. Department of Education is the lender. The
maximum loan amount is the student’s cost of attendance less any financial aid.
Students whose parents are denied a Direct PLUS loan can borrow additional
unsubsidized Direct Student Loan.
A private education loan is offered through a bank or another lending institution.
For those families that choose to borrow a private education loan, keep in mind
that it is usually beneficial to obtain a co-borrower. Having a creditworthy coborrower
can significantly reduce the rates and fees for most borrowers.
Appeals Process
If you feel that your financial aid is insufficient,
or if your special circumstances require an exception
to financial aid policy, you may appeal your award
in writing.
Adjustments and Cancellations
The Financial Aid Office is responsible for administering all financial aid funds
in accordance with Federal and State regulations and institutional policies.
Therefore, we reserve the right to review and, if circumstances warrant, adjust
or cancel awards at any time during the year. A student aid offer, an accepted
award or a portion of such may be voided for any or a combination of any of the
following reasons:
• Falsification of information on financial aid documents
• Failure to fulfill the satisfactory academic progress requirements
• Failure to enroll or remain in attendance
• Failure to report changes in financial resources or other circumstances
affecting the calculation of the financial aid award
• Use of financial aid for expenses that are not educationally related
• Failure to sign required documents (statement of educational purpose,
promissory note, etc.)
• Changes in program guidelines after financial aid has been offered
• Unexpected cutbacks in funding levels
• Verification of sibling enrollment or reduced income that changes
financial need from initial time of application
Financial Aid Policies
• The primary responsibility for financing the
student’s education rests with the student and the
student’s family.
• The College holds in strict confidence all family
financial information and considers any financial
aid award to be a confidential matter between the
College, the applicant and the family. The College
does not release information concerning individual
financial aid awards and considers it inappropriate
for aid recipients to do so. Information regarding
student rights under the Family Educational Rights
and Privacy Act (FERPA) is available from the
Office of Registration and Records.
• Financial aid awards are made for one academic
year and are divided equally between the Fall and
Spring Semesters.
• Merit-based aid is limited to eight semesters (10
semesters for Occupational Therapy majors).
Institutional aid for subsequent semesters is solely
based on demonstrated need.
• The College does not award institutional aid to a
student who already holds a bachelor’s degree.
• A student must be enrolled on a full time basis
in the traditional daytime program (12–18 credit
hours a semester) to be eligible for all institutional
financial assistance. Students who enroll for
less than 12 credit hours in a semester may still
be eligible for funding from State and Federal
programs.
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