General Catalog - John F. Kennedy University

General InformationSubsidized Stafford Loan repayment begins and interest startsto accrue six months after graduation, withdrawal, or cessationof half-time enrollment, and can take up to ten years. There areadditional repayment plans which may extend the repayment time.Interest charged on new loans is fixed at 6.8 percent. Eligibility isbased on financial need.The Unsubsidized Federal Stafford Loan was created for middleandhigher-income borrowers. With the exception of demonstratingfinancial need, the Unsubsidized Federal Stafford Loan hasthe same eligibility criteria as the regular Federal Stafford Loan.Family income or poor credit will not affect loan eligibility ordisqualify a student from obtaining an Unsubsidized FederalStafford Loan. Loan limits and interest rates are the same as thosefor the regular Federal Stafford Loan. Interest on new loans is fixedat 6.8 percent. Unlike Subsidized Stafford Loans, interest doesbegin accruing after the loan is disbursed.U.S. Department of Education regulations (Code of FederalRegulations §34CFR682.604g) requires all recipients of FederalStafford Student Loans (subsidized and unsubsidized) and FederalPerkins Loans to attend or complete an entrance interview priorto loan certification and an exit interview prior to graduation orwithdrawal from school. The exit interview includes informationon the average indebtedness of students, the average anticipatedmonthly repayments on the loan, and the options available tostudents for repayment and deferment of payment. Failure tocomplete an exit interview could result in a hold being placed onthe student’s diploma and academic transcripts.Application Forms and DeadlinesThe Free Application for Federal Student Aid (FAFSA) is used tocalculate eligibility for the Federal Perkins Loan, Federal Pell Grant,Federal Supplemental Educational Opportunity Grant (FSEOG),the John F. Kennedy University Scholarship, Stafford Loans, andCal Grants. The priority filing deadline for Perkins Loan, FSEOG,JFKU scholarship, or Cal Grant is March 2 for the followingacademic year. The Cal Grant application requires a separate GPAverification as well as filing of the FAFSA. Separate applicationforms are required for the Federal Subsidized Stafford Loan andthe Federal Unsubsidized Stafford Loan. Private aid requires separateforms. Students should contact the financial aid office withquestions regarding any applications for financial aid.• units that were transferred from another institution andaccepted by JFKU and• units from JFKU that were attempted for which the studentdid not receive any aid.The university complies with federal regulations to monitorstudent aid recipients’ academic progress toward a degree orcertificate in the following ways:QualitativelyThe financial aid office reviews students’ academic grades toensure they are consistent with requirements for receipt of adegree or certificate. Students must maintain a cumulativegrade-point average (GPA) of:• 2.0 (C) if an undergraduate student• 3.0 (B) if a graduate student• 2.0 (C) in all undergraduate courses and 3.0 (B) in allgraduate courses during the period of linking if a studentis linking a bachelor’s program to a master’s program.• A score of 70.0 if a law student.QuantitativelyThe financial aid office reviews students’ academic records toensure they complete their program within a maximum timeframe.Because students at John F. Kennedy University pursue avariety of educational objectives, the number of units requiredfor completion will vary from program to program. A standardacademic year at John F. Kennedy University is defined as threeterms (either three quarters or three semesters). In order to beconsidered making quantitative satisfactory academic progress,however, all financial aid applicants and recipients must adhere tothe following guidelines:Unit Completion Ratio. Students must complete (receive creditfor or earn units in) at least 80 percent of all cumulative unitsattempted. The following marks are not considered unitssuccessfully completed: I, W, UW, AU, NC, F, NR.Students must apply each academic year to receive financial aid.Any student who knowingly submits incorrect, misleading, orincomplete information in applying for or receiving financial aidwill be subject to discontinuation of funds and may be subject todismissal from the university.Satisfactory Academic ProgressSatisfactory academic progress is defined as reasonable and timelyadvancement by students toward completion of their educationalgoal. All students who apply for federal, state, and most institutionalfinancial aid at John F. Kennedy University must maintainsatisfactory academic progress while receiving financial aid.The financial aid office at JFKU monitors academic progress atleast each term, monitoring all units attempted and completedincluding:24 General InformationJohn F. Kennedy University