NOTE: ff prior to withdrawing, funds wen- released to a student hecausr ofa credit ha/011ce 011 the student's acc01m1, !hr stude111 may ht' 1r:q11ired to repay soml' of1hr:Jederol_f,111ds upon withdrawing. State Aid - State aid muse he returned in the amount of the difference between the Stace aid awarded for the enrollment period and the actual tuition charged once the tuition refund is reflected. Institutional Aid - In most cases, inscicucional aid is reduced when a student withdraws during the first eight weeks of the semester. The institutional aid is reduced hy the same percent age of tuition refund. In example, a student has a $1000 scholar ship for the semester, and withdraws during the third week of the semester (80% tuition refund). The student keeps 20% of the scholarship, or $200. $800 is returned to the institution. Aid is usually not reduced after the eighth week of the semester, unless the student has contracted for the aid, i.e. athletics, music. Outside Aid - Outside organizations providing financial aid are contacted when a student withdraws and receives a tuition refund that produces a credit on the student account. The organization can decide if an y of the aid must be returned to them. Some organi zations specify beforehand the terms of their scholarship if a student withdraws . Unless requested, outside aid sources a re not contacted when the withdrawa l occurs after the eight week refund period. SATISFACTORY ACADEMIC PROGRESS POLICY Students attending Biola University who wish to receive financial aid, in all forms including federal. state. Veterans benefits, Social Security benefits , etc., in addition to meet ing other eligibility criteria, must be in good academic standing and making satisfactory academic progress in their degree or certificate program. Quality of Progress - "Good Academic Standing" Students requesting aid mu st maintain a minimum cumulative GPA as follows : Undergraduates - 2.0 Graduates - 2.5 ■ GPA' s are reviewed at the encl of each semester. ■ Students who fail to maintain the minimum GPA will he given one semester of "Aid Probation " in which they muse earn the ahove GPA (for chat semester) or they will be suspended from the aid programs. ■ Once you have been on probation, you must continue achieving a 2.0/2.S GPA or aid will he suspended. ■ First-time freshmen with GPA's less than 2.0 will he given one probation semester with aid . Transfer stu dents with GPA's less than 2.0 are ineligible for aid. Quantity of Progress - "Unit Completion Requirement" Students requesting aid muse make progress toward a degree as follows: Undergraduates Full-time: 24 units per year Graduates Full-rime: 18 units per year Unit completion is rev iewed a t the end of each aca demic ye ar in June. Summer is considered part of the Spring semester for progress purposes. The foll owing grades are considered co demonstrate satis factory course completion: A, B, C, D. and CR. These grades
do not demonstrate course completion: F, Incomplete, With drawal , Unofficial Withdrawal, and Report Delayed. Repeated courses for which a satisfactory grade has been given may be counted only once for the purpose of aca demic progress. Remedial course work may he considered if the coursework is specifically prescribed hy the student 's academic advisor. S111de111s who fail to completr thr required 11umher of u11its per academic year will hr suspe11ded from f inancial aid 1111til the deficit 1111its are made up. Deficit units can he made up either in the summer and/or hy petitioning for a semester of "Aid Probation" by submitting a Letter of Petition to Financial Aid Office. Students whose cumulative GPA is less than 2.0/2.S must make up deficit units BEFORE the probation semester. Duration of Progress - "Maximum Time Frame " Students requesting aid are expected to complete an academic program within a reasonable time frame (includ ing transfer units) as follows: Undergraduates Full-time: 11 semesters Part-time: 17 semesters Graduates Full-time: 11 semesters Pare-time: 17 semesters Time frame is reviewed at the end of each academic year. Students may appeal/or exte11rled timr l~y suhmitti11g a letter of petitio11 to Fi11a11cial Aid Office.
16 • Financial Information
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