2012 08 07 Undergraduate Catalog Cover - Lake Erie College

FINANCIAL AIDSAP Warning, SAP Probation and Financial Aid SuspensionSAP WarningThe first time a student does not meet the SAP requirement thestudent will receive a SAP Warning. The student will be eligible toreceive financial aid for the next semester. No other action isrequired by the student.SAP Probation and the Appeal ProcessTwo consecutive terms of failure to meet SAP will result in thestudent becoming ineligible for financial aid. The student mustsubmit a letter of appeal to petition reconsideration for financialaid eligibility for the next term. The appeal must include a signedstatement with:1. The reason for failing to make SAP including anyextenuating circumstances that caused failure to meetthe SAP standards.2. A description of how circumstances have changed to bein a better position to be academically successful.An appeal must be based on significant extenuatingcircumstances that seriously impacted academic performance.Examples of extenuating circumstances include serious illness orinjury, death of a family member or other extreme hardship. Theappeal letter must be submitted to the Financial Aid Office within14 days of receiving notification. Include supportingdocumentation if indicated.An appeal will be approved if the Financial Aid Office candetermine the student will be able to make SAP standards by theend of the next term. The student with an approved appeal willbe on SAP Probation and regains eligibility for financial aid for thenext term.Academic PlanIf the Financial Aid office determines that SAP cannot be madeduring the next term, the student must include an academic planof action required by the Academic Standards Committee ormeet with their academic advisor to devise a plan to restore theirSAP standards by a specific point in time. If the student submitsand agrees to an academic plan, financial aid eligibility will berestored for the next term.Financial Aid SuspensionFinancial Aid Suspension occurs when any of the qualitative andquantitative standards cannot be met. The student will not beeligible for financial aid.Return of Title IV Funds PolicyAny students receiving Title IV Funds at Lake Erie College will besubject to the following policy regarding return of those funds ifthey withdraw from all classes:The amount of Title IV aid earned is the percentage of thesemester completed. This percentage is calculated by dividingthe number of days the student attended classes by the numberof days in the semester. The semester is measured in calendardays including weekends and holidays, excluding breaks of morethan five days.Any student who withdraws on or before the 60% point in thesemester will have to return or repay unearned Title IV funds. Astudent who withdraws after the 60% point of the semester isconsidered to have earned 100% of the aid received and will nothave to return funds to the Title IV programs. A student’swithdrawal date is determined by Lake Erie College to be:1. The date the student began the withdrawal process (asoutlined in this catalog) or notified the school of theintent to withdraw.2. The midpoint of the semester if the student fails toofficially notify the College of the withdrawal.3. The student’s last date of attendance at a documentedacademically-related activity.Funds will be returned to the programs in the order specified byfederal guidelines.A repayment by the student to the Title IV programs may berequired when cash has been disbursed to the student fromfinancial aid funds in excess of the amount of aid earned duringthe term. If the student owes a repayment to the programs, loanfunds are returned within the terms of the promissory note.Grant funds owed by the student will be returned at 50% of theamount owed.If less aid for which the student was eligible was disbursed thanwas earned, the student may receive a post-withdrawaldisbursement for the difference. The Office of Financial Aid willnotify the student within 30 days of notification of withdrawalthat these funds are available. The student must request theselate disbursements in writing from the Office of Financial Aid.Institutional and state aid refunds will be calculated according tothe Lake Erie College refund policy as posted in the officialschedule of classes each semester.Page | 10Lake Erie College | 2012 - 2013 Undergraduate Catalog | Student Handbook | Student Athlete Handbook