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STUDENT FINANCIAL AID UPDATE University Seminar Instructors Workshop 2011-2012.

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Presentation on theme: "STUDENT FINANCIAL AID UPDATE University Seminar Instructors Workshop 2011-2012."— Presentation transcript:

1 STUDENT FINANCIAL AID UPDATE University Seminar Instructors Workshop

2 TOPICS New Satisfactory Academic Progress Rules Attendance – Determining and Reporting Misrepresentation – Federal Rules

3 Federal Satisfactory Academic Progress Rules New Terms –Pace –Financial Aid Warning –Financial Aid Probation –On Plan* –On Completion Plan –Financial Aid Suspension –Reinstatement

4 Pace Pace is determined by dividing the cumulative hours earned at / transferred to Tech by the cumulative number of hours attempted at / transferred to Tech.

5 Financial Aid Status Eligible Financial Aid Warning Financial Aid Probation Financial Aid Suspension On Plan* On Completion Plan Ineligible

6 Eligible Entering freshman with no prior college Continuing student with 2.00 Cum GPA and 67% or greater Pace Transfer student with 2.00 Cum GPA and 67% or greater Pace with all transcripts submitted and posted into SIS.

7 Financial Aid Warning Continuing Student with less than 2.00 Cum GPA and / or less than 67% Pace. Transfer Student with less than 2.00 Cum GPA and / or less than 67% Pace. Transfer Student who has not submitted all prior transcripts to Admissions / Registrar and have not been posted. Students may be placed on warning from eligible multiple times.

8 Financial Aid Warning Duration –One quarter only Subsequent quarter status –Eligible – 2.00 GPA and 67% Pace –Financial Aid Probation – Based on successful appeal – Ineligible – Not eligible for federal financial aid

9 Financial Aid Probation Duration – One quarter Probation is the result of an appeal by the student. This appeal must explain why their academic record was affected by mitigating circumstances beyond their control and what steps have been taken to prevent a recurrence. Documentation is required.

10 Financial Aid Suspension Duration – Status remains until student has achieved the minimum standards during which time the student is ineligible for federal financial aid. Suspension is the result of a student failing to achieve a 2.00 Cum GPA and 67% or greater Pace after being placed on Warning or reaching the aggregate limit.

11 Reinstatement Student attends without benefit of federal financial aid until deficiency is resolved. Once Cum GPA and Pace meet standards, the student is considered eligible for federal financial aid except where aggregate limit is the disqualifying factor.

12 Appeal Requirements GPA / PACE Student must provide a signed letter in which the student explains the events that made him /her ineligible for federal financial aid. Student must provide accompanying documentation supporting assertions made in letter of explanation. Student must submit in timely manner Transfer students with missing transcripts may not appeal.

13 Appeal Requirements - Aggregate Hours Same requirements as for GPA and Pace plus Will need a graduation completion plan which is on our web site. Advisor will need to assist student in completion. Strict adherance to the plan by the student is required, if approved. Student must pursue the shortest route to a degree. Especially if they have been dual majored or multiple minors. The student will be “on completion plan” In rare cases, a student not close to graduation will be placed “On Plan” to allow recovery of GPA and Pace

14 TOPICS New Satisfactory Academic Progress Rules Attendance – Determining and Reporting Misrepresentation – Federal Rules

15 ED

16 Attendance ED now defines attendance as –Physically attending class with instructor –Submitting an academic assignment –Taking an exam, interactive tutorial or CAI –Attending study group assigned by University –Participating in online discussion about academic matters. –Initiating contact with faculty to ask a question of academic nature related to the course

17 Attendance ED says attendance is not –Living in institutional housing –Participating in school’s meal plan –Simply logging into an online class without measurable participation –Participating in academic counseling or advisement

18 Attendance Student certification that they attended without supporting documentation is not adequate.

19 TOPICS New Satisfactory Academic Progress Rules Attendance – Determining and Reporting Misrepresentation – Federal Rules

20 Misrepresentation What does ED mean by “substantial misrepresentation”? ED defines “misrepresentation” broadly to include “any false, erroneous or misleading statement” that the institution, a representative of the institution, or a covered service provider makes “directly or indirectly” to a student, prospective student, a member of the public, an accrediting agency, a state agency, or ED. "A misleading statement includes any statement that has the likelihood or tendency to deceive or confuse.” If a person to whom the misrepresentation was made “could reasonably be expected to rely, or has reasonably relied,” on the misrepresentation, the misrepresentation would be “substantial.”

21 Misrepresentation Substantial Misrepresentation –Any misrepresentation on which the person to whom it was made could reasonably be expected to rely, or has relied, to that person’s detriment.

22 Misrepresentation What types of statements does the misrepresentation rule prohibit? The new misrepresentation rule makes the institution responsible for substantial misrepresentations by the institution itself, a representative of the institution, or any person or entity with whom the institution has an agreement to provide educational programs, marketing, advertising, recruiting or admissions services. The rule prohibits substantial misrepresentations “in all forms, including those made in any advertising, promotional materials, or in the marketing or sale of courses or programs of instruction offered by the institution.” The new misrepresentation rule does not apply to statements by students through social media outlets or by vendors that are not providing covered services.

23 Misrepresentation What sanctions can ED impose on an institution that violates the new misrepresentation rule? In the event of a substantial misrepresentation, the new misrepresentation rule authorizes ED to deny applications by the institution, for example, to add locations or programs; initiate proceedings to fine an institution or limit, suspend, or terminate its participation in Title IV programs; or revoke a provisionally certified institution’s participation in Title IV programs.

24 Questions ?


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