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Changes in your enrollment may affect your financial aid eligibility
If you are planning to receive financial aid, it is important to understand that your enrollment hours and academic performance must remain at a certain level to continue to receive full benefits. Please read through the following sections carefully to make sure you understand your eligibility requirements.
Eligibility Requirements
Satisfactory Academic Progress (SAP) Policy
In order to comply with the State of Ohio and federal regulations under Section 668.16 (e), Franklin University has established standards for measuring satisfactory academic progress for students receiving Title IV or State assistance. All students are measured according to these standards at the end of each trimester, which constitutes a payment period {§668.34(a)(3)(ii)}. These standards contain both qualitative and quantitative components. SAP is defined separately for undergraduate, graduate, and professional students.
To learn more about the Satisfactory Academic Progress (SAP) Policy click here.
Return to Title IV (R2T4) Policy
Due to federal regulations, students who receive federal financial aid and completely or partially withdraw during a trimester will be subject to a recalculation of funds awarded. The outcome of the recalculation is dependent on when the withdrawal is initiated and the type of aid received.
To learn more about the Return to Title IV (R2T4) Policy click here.
Enrollment Hours
The eligibility presented on your Offer Letter is based on full-time enrollment, unless otherwise indicated on your offer letter. Many grant funds are prorated based on actual enrollment. If your enrollment hours are different than the hours of enrollment presented on your Offer Letter or if they change during the term, your eligibility for your awards will most likely also change.
Undergraduate Student Enrollment Status:
- Full-time = 12 or more credit hours
- Three-fourths time = 9-11 credit hours
- Half-time = 6-8 credit hours
- Less than half-time = 1-5 credit hours
Graduate Student Enrollment Status:
- Full-time = 6 or more credit hours
- Half-time = 3-5 credit hours
- Less than half-time = 1-2 credit hours
Doctoral Student active in Dissertation Enrollment Status:
- Full-time = 6 or more credit hours
- Half-time = 2-5 credit hours
- Less than half-time = 1 credit hour
Overpayments
An overpayment occurs when a federal financial aid recipient receives more aid than they were eligible for. If the outcome of the R2T4 calculation finds that a student must repay all or part of a Title IV grant, then Franklin University will return the funds to the Department of Education on behalf of the student. Any balance owed as a result of the overpayment should be paid to the University.
Study Skills Evaluation
If you are referred by Financial Aid for a Study Skills Evaluation, please contact the Student Learning Center at 614.947.6800 or through email at slc@franklin.edu. You will be provided with the necessary information to complete the study skills assessment.
Financial Aid Consequences
Students receiving any type of financial aid may lose part or all of such assistance if they stop attending or withdraw from one or more courses in any one trimester. Any overaward that results from withdrawing or nonattendance must be repaid before further financial assistance may be received. In considering whether or not to withdraw from or stop attending a course, students receiving financial aid should first consult with Student Financial Services.
Failure to disclose information regarding external sources of assistance could cause an adjustment to your financial aid. You may have to pay back a portion of the funds you received if you fail to disclose sources such as: employer reimbursement and scholarships from sources outside the University.
If you expect to receive any outside assistance, complete the appropriate year Declaration of Outside Tuition Assistance Form.
If you are retaking a course, it is important to contact a Student Financial Services Counselor to ensure your eligibility for the current term will not be affected. For purposes of determining enrollment for federal aid eligibility, Franklin University is permitted to pay up to one time for a course in which you have previously obtained a passing grade (for federal aid purposes, any grade higher than an "F" is considered to be a passing grade). If you have yet to receive credit in a course there are no limitations on the number of times you may receive funds for that course, unless you are not meeting all academic provisions related to Satisfactory Academic Progress (SAP).
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