2014-15-Undergraduate-Catalog

Commonwealth of Virginia Aid ProgramsVirginia Tuition Assistance Grant: This program is a state-funded, non-need-based grantavailable to full-time undergraduate students whose families are domiciled in Virginia. Onceawarded, it is not necessary to reapply for subsequent years. Recipients may receive thisgrant for up to four years. The application is due July 31 and is available at the Office ofFinancial Aid’s website. Recipients must notify the Office of Financial Aid immediately if theirdomicile moves outside of Commonwealth of Virginia. The amount of the grant is based onannual state funding.Withdrawing from the UniversityShenandoah University will determine eligibility of financial aid for those studentswithdrawing from the university using the following procedures.Financial Aid • 93Return of Federal Financial Aid: The regulations governing the federal student aidprograms require that aid be returned to the federal government for students whocompletely withdraw from the university prior to completing sixty percent of a term(calendar days). Financial aid is awarded for the entire term, which is generally a sixteenweekperiod during the normal academic year. If a student does not complete the entiresixteen weeks, then these federal regulations will determine how much federal aid thestudent has earned. The unearned portion of federal aid must be immediately returned tothe federal government. In some situations, this may leave a student with a balance owed tothe university. Funds are returned to the federal government in the following order: DirectUnsubsidized Loan, Direct Subsidized Loan, Perkins Loan, Graduate PLUS Loan, ParentPLUS Loan, Pell Grant, and the Supplemental Educational Opportunity Grant.Return of State and Institutional Funds: If a student has completed less than sixty percentof the term, the earned portion of state and institutional aid will be calculated based uponthe percent of the term attended by the student. Any unearned aid will be returned to thesource of the funds.Refer to the Tuition and Fees for information on the university fees and refunds.