8529 Cat.qxd - Immaculata University

ALTERNATIVE LOAN PROGRAMMany programs are available through lending institutions tofamilies in need of additional funds for education. These alternativesources may be a line of credit to cover educational costs for fouryears, a supplemental loan processed on a yearly basis, or a homeequity loan.In most cases, eligibility for alternative loan programs is basedon the personal credit history and financial circumstances of thefamily. Frequently a debt-income analysis is performed todetermine the applicant’s ability to repay the loan. Applicationinformation is available in the Office of Financial Aid.SPECIAL CIRCUMSTANCESIf after filing for financial aid, you or your parents experience areduction in income due to unemployment, divorce or separation,death, loss of untaxed income, or other circumstances you mustcontact the Financial Aid Office. You may be eligible to receiveincreased financial assistance due to a special condition and willneed to find out what information is required in order to determineyour eligibility.SATISFACTORY ACADEMIC PROGRESSREQUIREMENTSIn order to qualify for financial aid programs, students mustconsistently meet mandated satisfactory academic progressrequirements. These requirements are applied uniformly to allstudents when determining their eligibility for federal and/orImmaculata funds at the end of every academic year for eachstudent enrolled in an academic program at the college. Therequirements are a combination of quantitative and qualitativestandards. In order to meet minimum requirements, students mustprogress in both the quantitative and qualitative standards. Thefollowing is the policy at Immaculata in regards to financial aideligibility for all Immaculata administered programs.MAXIMUM SEMESTERS OF ELIGIBILITYThe maximum time frame full-time undergraduate students maytake to complete their program at Immaculata is not to exceed 12full semesters. Part-time students may not take more than 12academic years to complete their program.CREDITS – QUANTITATIVE REQUIREMENTSFull-time students - enrolled for at least twelve (12) credits persemester, are required to successfully complete a minimum of 24credits per academic year.Three-quarter time students - enrolled for at least nine (9)credits per semester, are required to successfully complete aminimum of 18 credits per academic year.Half-time students - enrolled for at least six (6) credits persemester, must successfully complete a minimum of 12 credits peracademic year.Financial Aid requires that the student maintain satisfactoryacademic progress, which means that full-time and part-timestudents must earn at least 67% of credits attempted. Part-timestudents must be enrolled in at least six credits per semester toremain eligible for aid.Students whose enrollment status varies during the academicyear must earn a proportionate amount of credits. PHEAA StateGrant recipients must complete a minimum of 24 credits for everytwo semesters of state grant assistance received as a full-timestudent and a minimum of 12 credits for every two terms of grantassistance received as a half-time student. Enrollment status isdetermined at the end of the drop-add period of each semester.MINIMUM C.G.P.A. REQUIRED;Semesters Completed Minimum C.G.P.A.1 1.602 1.703 1.854 or more 2.00A student with a C.G.P.A. below the minimum levels indicatedin the table will be placed on academic probation. Ordinarily astudent may not be on academic probation for more than twoconsecutive semesters. A student may receive federal, state, and/oruniversity financial aid during the probation period. A student onacademic probation must show improvement during the followingsemester to continue receiving financial aid.APPEALING THE SATISFACTORY ACADEMICPROGRESS POLICYAny student identified as not meeting the published SatisfactoryAcademic Progress standards has the right to appeal the standardbased upon special circumstances. Notification of proceduresconcerning the appeal process will occur in writing from The Officeof Financial Aid to affected students. The Office of Financial Aidwill verify the presence of special circumstances usingcommunications with a representative of the Vice President ofAcademic Affairs office. It is strongly recommended that studentsconcerned with meeting minimum Satisfactory Academic Progressstandards seek immediate consultation with the Director ofAcademic Advisement.REINSTATEMENT OF FINANCIAL AIDFinancial aid eligibility may be reinstated when the student hasreestablished satisfactory academic standing and/or hasdemonstrated a significant improvement in progress toward theeducational objective. It is the student’s responsibility to notify theFinancial Aid Office when cumulative G.P.A. requirements havebeen met and/or credit deficiencies have been corrected. Aideligibility will then be reevaluated and reinstatement will bedependent upon the availability of funds, regardless of demonstratedeligibility.Credits taken during the summer at another institution must beapproved by the Registrar. These credits may be used indetermining the student’s academic progress for that particular year.Requests for reevaluation of aid eligibility must be made to theFinancial Aid Office after all transfer credits have been officiallyrecorded on the student’s transcript. It is the student’s responsibilityto request that official transcripts be forwarded to the Registrar fortransfer credit evaluation.APPEALSIf due to extenuating circumstances, students fail to meetacademic progress requirements, they may appeal the termination oftheir financial aid. Appeals must be made in writing to the Directorof Financial Aid and must include an explanation of the student’ssituation along with a request for reinstatement of financial aid.Federal and state regulations require that colleges enforcestandards of satisfactory academic progress. Students shouldunderstand that Immaculata standards of satisfactory academicprogress must be met for financial assistance renewal. If aideligibility is lost because of failure to meet university requirementsfor satisfactory academic progress or there are mitigatingcircumstances, requests for review may be made through the Officeof Financial Aid. All requests and appeals must be in writing.21