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Business Administration - John F. Kennedy University

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General Information<br />

graduation, withdrawal, or cessation of half-time enrollment, and<br />

can take up to ten years. There are additional repayment plans<br />

which may extend the repayment time. interest charged on new<br />

loans is fixed at 6.8 percent.<br />

The Unsubsidized Federal stafford loan was created for<br />

middle- and higher-income borrowers. With the exception of<br />

demonstrating financial need, the Unsubsidized Federal stafford<br />

loan has the same eligibility criteria as the Federal stafford<br />

loan. Family income or poor credit will not affect loan eligibility<br />

or disqualify a student from obtaining an Unsubsidized Federal<br />

stafford loan. loan limits and interest rates are the same as those<br />

for the Federal stafford loan. interest on new loans is fixed at 6.8<br />

percent. Unlike subsidized stafford loans, interest does begin<br />

accruing after the loan is disbursed.<br />

The graduate PlUs loan provides additional federal funding<br />

beyond stafford loans and offers a fixed 8.5 percent interest rate.<br />

Deferment options are available while in college. The annual award<br />

is up to the cost of attendance, as determined by the college, minus<br />

financial aid.<br />

U.s. Department of Education regulations (Code of Federal<br />

Regulations §34CFR682.604g) requires all recipients of Federal<br />

stafford student loans (subsidized and unsubsidized) and Federal<br />

Perkins loans to attend or complete an entrance interview prior<br />

to loan certification and an exit interview prior to graduation or<br />

withdrawal from college. The exit interview includes information<br />

on the average indebtedness of students, the average anticipated<br />

monthly repayments on the loan, and the options available to<br />

students for repayment and deferment of payment. Failure to<br />

complete an exit interview could result in a hold being placed on<br />

the student’s diploma and academic transcripts.<br />

Application Forms and Deadlines<br />

The Free application for Federal student aid (FaFsa) is used to<br />

calculate eligibility for the Federal Perkins loan, Federal Pell Grant,<br />

Federal supplemental Educational opportunity Grant (FsEoG),<br />

the <strong>John</strong> F. <strong>Kennedy</strong> <strong>University</strong> scholarship, stafford loans,<br />

undergraduate and graduate PlUs loans, and Cal Grants. The<br />

priority filing deadline for Perkins loan, FsEoG, JFKU scholarship,<br />

and Cal Grant is March 2 for the following academic year. The Cal<br />

Grant application requires a separate GPa verification as well as<br />

filing of the FaFsa. separate application forms are required for<br />

the Federal subsidized stafford loan, the Federal Unsubsidized<br />

stafford loan and graduate PlUs loans. Private aid requires<br />

separate forms. students should contact the Financial aid office<br />

with questions regarding any applications for financial aid.<br />

students must apply each academic year (three terms) to receive<br />

financial aid. any student who knowingly submits incorrect,<br />

misleading, or incomplete information in applying for or receiving<br />

financial aid will be subject to discontinuation of funds and may be<br />

subject to dismissal from the <strong>University</strong>.<br />

30 General Information<br />

Satisfactory Academic Progress<br />

all students who apply for federal, state, and institutional financial<br />

aid at <strong>John</strong> F. <strong>Kennedy</strong> <strong>University</strong> must maintain satisfactory<br />

academic progress while receiving financial aid. satisfactory<br />

academic progress is defined as reasonable and timely advancement<br />

by students toward completion of their educational goal.<br />

The Financial aid office at JFKU monitors academic progress each<br />

term, monitoring all units attempted and completed including:<br />

• units that were transferred from another institution and<br />

accepted by JFKU and<br />

• units from JFKU that were attempted for which the student<br />

did not receive any aid.<br />

The <strong>University</strong> complies with federal regulations to monitor<br />

student aid recipients’ academic progress toward a degree or<br />

certificate in the following ways:<br />

Qualitatively<br />

The Financial aid office reviews students’ academic grades to<br />

ensure they are consistent with requirements for receipt of a<br />

degree or certificate. students must maintain a cumulative gradepoint<br />

average (GPa) of:<br />

• 2.0 (C) if an undergraduate student<br />

• 3.0 (B) if a graduate student<br />

• 2.0 (C) in all undergraduate courses and 3.0 (B) in all graduate<br />

courses during the period of linking if a student is linking a<br />

bachelor’s program to a master’s program.<br />

• A score of 70.0 if a law student.<br />

<strong>John</strong> F. <strong>Kennedy</strong> <strong>University</strong>

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