2009-2010 KCUMB College Catalog - Kansas City University of ...

• A revised aid award offer will be completed and sent to the student advising
him/her of the revision;
• A new disbursement schedule will be completed and sent to the student with the
revised award offer to advise him/her of how the change will affect future
disbursements, tuition payments and living expenses;
• Subsequent disbursements will be cancelled or reduced accordingly;
• If the additional resource is credited to tuition (as with scholarships or
Vocational Rehabilitation), the resulting refund will be returned to the loan
programs to reduce any over-award. In the event a personal check was given to
pay any part of the tuition, it will be determined whether an equivalent amount of
loan funds was delivered to the student creating the over-award. These funds will
also be returned to the lender of the loan program to the extent of the loan funds
delivered to the student;
• After all efforts have been exercised by the Financial Aid Office to
reduce/eliminate the over-award, per federal guidelines, a Stafford Loan
borrower who is over-awarded and received funds disbursed directly to him/her
will not be required to repay funds that were delivered in excess of need unless
the over-award was caused by his/her misreporting or withholding information.
• In the event an over-award exists due solely to scholarships, Vocational
Rehabilitation, etc., with no loans involved, the Financial Aid Office will contact
the program’s administrator to coordinate the programs appropriately.
Standards for Satisfactory Academic Progress
Federal regulations require that all students receiving financial assistance from Title
IV programs must maintain satisfactory academic progress. Private, non-federal loan
programs also require a student to meet satisfactory academic progress standards.
College of Biosciences
A student falling below a 3.00, but earning at least a 2.50 cumulative G.P.A. after the
first semester will be placed on financial aid probation. The student must attain a 3.0
cumulative G.P.A. by the end of the second semester to return to full financial aid
eligibility status and avoid academic dismissal. In addition, a student placed in any status
by administrative directive that stipulates the student is considered “Not in Good
Standing” or “Not Meeting Satisfactory Progress” or placed on suspension from
academic participation is ineligible for financial aid.
Loan Programs and Sources
Federal Stafford Loans
The interest rate is fixed at 6.8 percent. An origination fee of .5 percent plus a default
fee of 1 percent are charged and deducted from the loan proceeds. This applies to both
Subsidized and Unsubsidized Stafford Loans. Additional details are provided below:
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