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Financial Aid
Furthermore, if the withdrawal occurs after the end of ALL refund periods but on or before 60% of the
term is completed, the student may be required to repay all or part of the financial aid as determined
in steps #1–5 above. If the student is required to repay all or part of the financial aid, he/she will be
notified of the amount required to be repaid. In addition, future registration at Saint Mary's University
and requests for academic transcripts may be denied until repayment is complete. To initiate the refund
process, obtain a withdrawal form from the academic advising office. After completing the form and
getting the required signatures, the registrar's office will withdraw the student and the business office
will calculate any refund of fees. The financial aid office will perform the appropriate calculations to
determine the amounts (if any) of the financial aid that must be returned to the program accounts.
Satisfactory Academic Progress
To remain eligible for financial aid at Saint Mary’s University, an undergraduate student must maintain
satisfactory academic progress: full-time students must complete 24 semester credits per academic year
with a cumulative GPA of 1.600 after one semester; 1.750 after two semesters; 1.900 after three semesters;
and 2.000 at the end of any subsequent semester. Students must complete their undergraduate college
objective in a maximum of 12 semesters to remain eligible for federal financial aid.
The director of financial aid reviews at the end of each semester the student’s semester and cumulative
GPA for satisfactory academic progress. Total credits earned for the year are reviewed at the end of the
academic year, along with cumulative GPA. Repeated or audited courses are not counted towards
the total credits required to maintain satisfactory academic progress. Students who do not maintain
satisfactory academic progress are notified in writing. Students who are accepted and transfer to Saint
Mary’s University will be considered to be making satisfactory academic progress. At the end of their
first semester at Saint Mary’s, they will be reviewed for continued satisfactory progress as defined above.
Satisfactory academic progress must be maintained during all periods of enrollment, whether or not
financial aid is being received, if a student wishes to apply for and be entitled to financial aid eligibility.
Satisfactory academic progress in previous semesters will be reviewed for students applying for aid for
the first time. Students who do not maintain satisfactory academic progress will be placed on financial aid
warning for one semester. Failure to meet standards of progress at the end of that semester will result in
loss of continued aid eligibility. A statement on standards of satisfactory academic progress, conditions for
appeal, and reinstatement of aid eligibility is available from the financial aid office upon request.
Additional Financial Assistance
Non-need-based alternative loan programs are available to assist families in financing their educational
costs. A list can be viewed at www.smumn.edu/loans.
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