Friday, May 25, 2007

New Financial Aid Policy

I assume you will be sent notice of this from Financial Aid, but this is an important notice from the Advising Center:

"The Arts and Sciences Advising Center recently learned that there has been a change in requirements for financial aid progress.

"In the past, students were required to earn at least 24 new credits every academic year (between fall, spring, and summer terms) in order receive financial aid in the next academic year. For example, students who earned fewer than 11 credits in the fall term could make up the difference in the spring term by completing 13 credits for a total of 25. Students who did not have 24 credits by the end of the spring term could also make up the difference in the summer term and have their financial aid reinstated.

"Additionally, students were required to meet the following GPA requirements:

Level 1 (first year): 1.50 or higher
Level 2 (second year): 2.00 or higher
Level 3 (third year) 2.00 or higher
Level 4 (fourth year) 2.00 or higher
Level 5 (fifth year) 2.00 or higher

"Additionally, students were required to complete a specific number of credits at each undergraduate level as indicated below:

Level 1 (first year): 0 – 24 credits
Level 2 (second year) 25 – 54 credits
Level 3 (third year): 55 – 84 credits
Level 4 (fourth year): 85 – 114 credits
Level 5 (fifth year): 115 credits or more

"The change requires students to earn at least 12 credits each term (fall and spring). The Students who do not meet the per-term credit requirement will lose their financial even if they earned 30 credits with a 4.00 GPA."

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