Microsoft Word MU 2009-2010.doc - Methodist University

academic excellence, financial need and other considerations. All institutional money, to include EndowedScholarships, is awarded to Full-time degree seeking Day students, who are charged as full-time dayONLY. The amount of institutional money an individual student can be awarded varies, howeverMethodist University has established an institutional cap for residential (on campus) students and aninstitutional cap for commuter (off campus) students and may change each academic year. Contact theOffice of Financial Aid for the institutional cap amounts. Most institutional scholarships can be renewedfrom year to year for a maximum of five academic years or ten semesters. Some institutional scholarshipsare awarded for a maximum of four academic years or eight semesters. The Office of Financial Aid has alisting of the various scholarships and number of years or semesters the scholarships can be renewed.Scholarship guidelines are subject to change from one academic year to the next. Students shouldcontact the Office of Financial Aid regarding their particular scholarship(s) for any changes.Methodist University reserves the right to reduce or cancel any scholarships due to gpa, changes in astudent’s financial need, changes in enrollment status or changes in housing status (on/off campus).Generally, students living on campus as opposed to off campus are awarded more financial aid to help withthe cost of room and board. Therefore, if the student moves from on campus to off campus his/herfinancial aid must be reevaluated and institutional money may be reduced. The university also participatesin the following financial aid programs: Federal Title IV (grants, loans, student employment), state (grants,scholarships and loans) and the Board of Higher Education and Ministry of the United Methodist Church(scholarships and loans). Federal Title IV financial aid eligibility is six years or twelve semesters. Forstudents enrolled in the Evening program, limited Federal and state funds are available. All studentsMUST maintain satisfactory academic progress, listed in the next section, to be eligible for anyfinancial aid.All institutional scholarships and some Federal and State grants are not available to students enrolled in lessthan 12 semester hours (s.h.). A student initially enrolled as full time (12sh) can not drop below 12 s.h.before the end of the semester or that student will be ineligible for all institutional, some state and federalfinancial aid and the scholarship(s)/grant(s) previously awarded may be revoked. If a student withdrawscompletely from all classes, either officially or unofficially, federal guidelines require that the institutioncalculate any Title IV money that may have to be returned to the federal government. Methodist Universityalso has an Institutional refund policy in which institutional money may have to be returned. MethodistUniversity’s withdrawal policy, Title IV and Institutional Refund calculations and how financial aid wouldbe affected are located in the academic catalogue.METHODIST UNIVERSITY OFFICE OF FINANCIAL AID POLICY OFSATISFACTORY ACADEMIC PROGRESSMethodist University Office of Financial Aid Policy of Satisfactory Academic ProgressRevised August 2007The Higher Education Act mandates institutions of higher education to establish minimum standards of"Satisfactory Academic Progress" (SAP). Methodist University makes these standards applicable to allfinancial aid offered at Methodist University. This includes Federal (Title IV), State (North Carolina) andInstitutional (Methodist University) funding.Programs administered by agencies other than Methodist University, such as private scholarships, or grantsgiven by states other than North Carolina, may have their own academic standards for students. Studentswill need to contact such agencies to determine what those requirements are.General Satisfactory Academic Progress PrinciplesThese principles apply to all of Methodist University’s degree programs. Specific guidelines for eachacademic program are outlined after these general principles.230