FINANCIAL AID RENEWAL
Unless otherwise stated, all forms of financial aid generally are renewed, providing there is satisfactory academic progress and good standing, demonstrated financial need, and availability of funds. However, students must apply for financial aid each year by filing a valid FAFSA before March 30. The university cannot guarantee renewal of awards for applications that are received after that date.
Awards, scholarships and/or financial assistance received from sources other than those offered by the University financial assistance program are considered to be educational resources that, when combined with University assistance, may not exceed the direct cost of education as determined by the Financial Aid Office.
Scholarships or other awards received from university or non-university sources must be included toward meeting “need” if any “need-based” assistance is part of an award. The receipt of outside or additional funds may result in reduction or cancellation of funds already awarded.
FINANCIAL AID DISBURSEMENT
All financial aid funds are awarded for the entire academic year, one half of which is credited to each fall and spring semester. With the exception of some VA Educational Benefits, aid funds are applied directly to student charges at the beginning of each regular semester. Federal Work Study awards are paid out as they are earned. Entrance interviews are also required before federal loans can be disbursed. The Financial Aid Office will notify students on how to satisfy the entrance interview requirement.
Institutional aid is not available during summer terms or for study abroad. No financial aid funds will be disbursed before the end of drop and add in any academic term and aid disbursements will be applied to a student’s direct educational expenses first. Additionally, delays in disbursement may occur, and students whose total aid awarded will exceed their direct educational expenses should anticipate the possibility of delays and plan to pay rent, books, and other outside expenses from savings or other sources until a minimum of thirty days after the beginning of each academic term.
ACADEMIC ELIGIBILITY FOR FINANCIAL AID
Jacksonville University Scholarship Renewal Policy
Jacksonville University scholarships are awarded to first-year students for eight semesters or until the undergraduate degree is conferred (whichever is earlier). Transfer student scholarships are awarded for the period specified in students’ initial scholarship notification letter or until the undergraduate degree is conferred (whichever is earlier).
Scholarship renewal is contingent upon students’ cumulative grade point average. A 2.50 cumulative GPA is required for renewal of all Jacksonville University scholarships, unless a specific GPA renewal requirement is attached to the scholarship, as in the case of Honors Scholarships and Talent Scholarships. GPA’s are not rounded up.
Scholarship recipients must maintain good academic standing in accordance with the following:
- GPA’s will be checked at the end of each spring term.
- A student will be given a one-year probationary period if the cumulative GPA falls below a 2.50 (or the GPA required for the scholarship).
- If the cumulative GPA does not meet the minimum standards after the probation period, but is at least a 2.0, the student will retain 75% of the original scholarship amount.
- Scholarships are suspended for any student failing to earn a 2.0 cumulative GPA at the end of their fourth semester.
- Students falling below a 2.0 cumulative GPA after any semester, including their first semester, will be placed on “scholarship alert” and notified that they are in danger of losing their scholarship.
Scholarship renewal eligibility will be checked at the end of each subsequent spring term. At the time the cumulative GPA is at or above the minimum for the student’s scholarship, the Jacksonville University scholarship may be reinstated at the original value. It is the student’s responsibility to contact the Office of Financial Aid and request reinstatement of the scholarship at the end of any term if the cumulative GPA has met the minimum standards for renewal.
FEDERAL FINANCIAL AID STANDARDS OF ACADEMIC PROGRESS
The federal financial aid standards of satisfactory academic progress (SAP) apply to all federal, state and institutional student aid programs unless specific higher renewal requirements are required. Students must demonstrate a progression toward completion of their degree program within an established timeframe. Progress is measured by Qualitative and Quantitative Standards. SAP is monitored annually at the end of each spring term. Notifications will be mailed or emailed to students by June 1st every year.
Grade Point Average – students must achieve a cumulative GPA of 2.0 or greater. Coursework taken outside of Jacksonville University (JU) do not count towards your JU cumulative GPA.
Completion Rate (Pace) – Undergraduates must complete 67% of the total credit hours attempted. Transfer hours accepted by JU count as both hours attempted and hours completed. Incomplete and Withdrawal grades also count as attempted hours, but not completed hours. Graduates must complete based on the programs academic standards for an academic year.
---------------------- = Completion Rate
Allowable Timeframe (Maximum Timeframe) – The maximum timeframe for receiving financial aid for an Undergraduate degree is 150% of the required credits for that degree. For most full-time undergraduate students that is 5 years or 10 semesters. For example, an undergraduate degree program that requires 120 credits means the student cannot exceed 180 credits of attempted coursework. The time frame for progress towards degree completion does not automatically increase if you change your major or pursue a double major. Also, in some circumstances students with appropriate disability documentation may qualify for full-time status with reduced course loads; however, are still held to the same academic expectations as stated above (Qualitative and Quantitative)
Failure to meet the above criteria qualitative and quantitative standards (GPA, Completion Rate, Maximum Timeframe) will place you on financial aid suspension.
Financial Aid Suspension
Students who fail to meet satisfactory academic progress are placed on financial aid suspension. You have the option to appeal the suspension. An appeal must be based on an extenuating circumstance that seriously affected your academic performance (ie) Death of Immediate Family Member, Illness, Major Life Event, etc. Decision of appeal will be mailed or emailed to you within 30 days of receipt of the appeal. Submission of an appeal is not an automatic approval. Submission of an academic suspension appeal is also not related to financial aid suspension appeals, and academic decisions have no bearing on the financial aid status.
The appeal should be submitting to the Financial Aid Office. The submissions requirements are detailed in the notification letter sent to you. Below is an outline of what is required. Any original documents turned in will not be returned so please be sure to remit copies.
- Typed personal statement explaining the extenuating circumstance and the actions you are taking to ensure future academic success.
- Supporting documentation of extenuating circumstance
If the appeal is approved you will be placed on Financial Aid Probation.
Financial Aid Probation
If the student appeal is approved the student will be placed on Financial Aid Probation. The probationary period is one (1) payment period/term. A payment period at JU is either a Fall, Spring, or Summer term, and is the next term of enrollment regardless if the student is receiving financial aid in that term or not. At the conclusion of the payment period/term the financial aid office will review to ensure that the student is now meeting the SAP standards in order to qualify for further Title IV Funding. If they are not making SAP standards again at that time, they will be on financial aid suspension again and be required to turn in an academic plan.
An academic contract is to be developed between student and academic advisor. The student must make academic plans for each term and meet the requirements of the plan. The plan should be in efforts to get the student back to the qualitative and quantitative standards from the section above. Financial aid will monitor the progress of a student by reviewing the academic plan submitted and the degree audit for the student. If the student fails to meet the conditions outlined in their academic plan, the student will not be able to submit any further appeals or academic plans and will be on permanent financial aid suspension from the university.
Academic contracts can be obtained from the JU Financial Aid Office.
Re-establishing Financial Aid Eligibility without Appeal
If the student is allowed to attend JU academically, they may continue at their own expense to attempt to improve completion rates and/or GPA issues. Once a student is back into compliance with SAP, they may contact the financial aid office for review of reinstatement of their financial aid.
Basic Credit Hour Requirements - Students are expected to earn a minimum number of credit hours as determined for their enrollment status; i.e., full-time, three quarter-time, half-time, to maintain satisfactory academic progress. For a full-time student, a minimum of 24 credits must be earned in the academic year. Three quarter-time students must earn a minimum of 18 credits during the academic year, and half-time students must earn a minimum of 12 credits during the academic year.
State of Florida Standards of Academic Progress - Eligibility for renewal of state awards is determined once a year, at the end of the spring term. The state requires that a student have at least a 2.0 cumulative grade point average and meet the institution’s definition of satisfactory academic progress. Students are also required to earn a minimum of 24 credits annually for renewal. Completion and CGPA requirements are different for the Florida Bright Futures Scholarship Program.
Scholarships and Academic Progress - Some institutional scholarship programs have a higher grade point requirement for renewal. Though the grade point requirements differ, the basic standards for completion apply
WITHDRAWALS AND REFUNDS
Students who receive Title IV federal student aid funds and who withdraw, drop out, are dismissed or take a leave of absence prior to completing 60 percent of a semester are subject to Federal Return of Funds requirements. The applicable Title IV financial aid programs include Federal Pell Grants, Federal SEOG Grants, Federal ACG and SMART Grants, Federal Perkins Loans, Subsidized and Unsubsidized Federal Stafford Loans, and Federal PLUS Loans. For those students, the Financial Aid Office recalculates federal financial aid eligibility based on the following formula:
Percent of Number of days completed up to withdrawal date
Federal financial = -------------------------------------------------------------
aid earned Total number of days in the semester
The withdrawal date is defined as the actual date the student began the institution’s withdrawal process, the student’s last date of recorded attendance or the midpoint of the semester for a student who leaves without notifying the institution. An example of the withdrawal and refund policy follows.
For Example - For a semester that begins on August 30 and ends on December 15 (with no scheduled breaks), the denominator used to determine the amount of federal student aid earned by a student who withdraws fully would be 105 days. The 60 percent point of the semester would be October 31. A student who withdraws on October 1 (day 33) would have earned 33/105, or 31.43 percent, of the federal student aid disbursed for the semester. The Financial Aid Office will recalculate the student award and return 68.57 percent of the federal student aid to the federal student aid programs. If $1,000 in Federal Stafford Loan funds were disbursed, the University would be required to return $686 to the lender of the funds. The student would then owe Jacksonville University $686, plus any other unpaid charges due.
The Return of Title IV Funds requirement is part of the Higher Education Amendments of 1965 as reauthorized in 1998 and applies to any student who received Title IV funding, as described above. Return of funds to the federal programs is not the same as Jacksonville University’s institutional policy on refunds and withdrawals and may result in a balance due the University even when the account balance was zero at the time of withdrawal.
The Return of Title IV Funds requirement does not apply to students who withdraw from one or more classes, but continue to be enrolled in at least one class during the semester. It does not apply to state or institutionally funded financial aid. For students who withdraw fully during one of the institution’s published refund periods, any institutional awards previously distributed will be prorated in proportion to the amount of charges to be refunded. Students who fail all coursework during a particular semester, are subject to Return of Title IV Funds based on last date of academic activity. Proof of academic activity beyond 60% of the term is needed in the financial aid office to prevent the Return of Title IV Funds for the coursework failed.
Any individual who receives student financial assistance and is considering withdrawal from the University should contact the Financial Aid Office to determine the effect of withdrawal on aid eligibility and/or charges.
In some instances student and/or families may need to supply the financial aid office with documentation regarding tax filing status, income earned, and household size. This information is required to received federal and some state financial aid. The Financial Aid office will notify the students of required documents by email and/or mailed letters. The deadline to turn in such documentation, is the end of the academic term in which you are enrolled.
--==Back to Top==--