Assumption College

Policies and Guidelines

Private Scholarships: For scholarships derived from meritorious sources that are in recognition of a particular achievement of the student, unmet need will be filled first. Any remaining scholarship will reduce loan then work-study. If there is additional remaining scholarship, it will reduce Assumption grant dollar for dollar.  Private grants/scholarships derived from non-meritorious sources (state or federal grants or tuition subsidies based on parents' employment) will reduce Assumption grant dollar for dollar.

Course Load Requirements:  All aid awarded is subject to verification of enrollment status.  Changes in registration status may result in an adjustment or cancellation of financial aid awards. All undergraduate students must be enrolled full time in order to receive Assumption scholarships or grants. To qualify for certain federal assistance, students must be registered for six credits or more. Recipients of state scholarships must be full time students, registered for twelve credits or more.

How Aid is Credited:  All aid is credited first towards billed charges, regardless of its source of origination (except work-study). Aid is credited one half for each semester.

Validation/Verification: All aid is subject to review, adjustment, or cancellation after receipt of supporting documentation and tax returns.
Each aid recipient is responsible for informing the Office of Financial Aid in writing of:

Changes in anticipated credit load
Changes in housing status
Changes in family financial circumstance as reported on the FAFSA
Receipt of outside aid/scholarships


Eligibility Criteria:  Assumptions are made that recipients will meet all tests of eligibility established by the federal government and Assumption College. If at any time the student ceases to be eligible, awards will be canceled.  Our assumption is that each student meets all of the following criteria: is accepted to and enrolled /will enroll in a program of study at Assumption College, is a citizen or eligible non-citizen, maintains a full time registration status (with the exception of several federal and state programs), is maintaining Satisfactory Academic Progress as defined by the college, is free from default on any previous student loan or refund obligation, is eligible in terms of computed need, and is in compliance with draft registration requirements.  

Semester Abroad:  Students studying on a semester abroad may be eligible for a portion of their financial aid.  Since students are not allowed to work in most foreign countries, students studying abroad cannot receive federal work-study for their time abroad.  Assumption College cannot replace a work-study award with other funding.

Withdrawal from the College: If you withdraw from Assumption College, you should schedule an appointment with the Office of Financial Aid to discuss the implications of your decision on your financial aid.  You will receive an informational loan package including an exit interview form which should be completed and returned to the Office of Financial Aid if you have borrowed any federal loans.  

Please keep in mind, if you leave during the middle of an academic period and have to repeat a semester in order to graduate, you may not be making “Satisfactory Academic Progress” and would not be able to receive aid for the period being repeated.

Return of Title IV Funds (Federal and some state financial aid): Title IV fund rules assume that a student earns his or her aid based on the period of time he or she remained enrolled for the term. Unearned aid, other than work-study, must be returned to the U.S. Department of Education up until the 60% point in the term. At the 60% point in the term, the student is considered to have earned all of his or her aid.

Return of Institutional Financial Aid: Students are allowed to retain institutional (Assumption grants and scholarships, including academic scholarships) financial aid at the same rate that the credit to tuition (refund) policy is calculated. (This policy is subject to change at the discretion of the College).

Address Changes:  Each aid recipient is responsible for informing the Registrar's Office in writing of any changes of address.

Renewing Your Financial Aid

Satisfactory Academic Progress:  Students receiving financial aid of any type (including parent loans) are expected to remain in good academic standing and are required to make “satisfactory academic progress” toward their degree. Satisfactory academic progress is defined by regulations of the U.S. Department of Education as “proceeding in a positive manner toward fulfilling degree requirements.” This is differentiated from “Academic Standing”, which refers to students whom the institution allows to continue to enroll. Full-time bachelor’s degree candidates must be making satisfactory progress according to the schedule below. Evaluation of satisfactory academic progress is made at the end of each spring term. Students are typically allowed one semester of “financial aid probation” while here at Assumption College. If the student fails to regain good standing at the end of that semester, aid will be reduced or discontinued. In special circumstances a second semester of probation may be allowed. An appeal must be submitted to the Director of Financial Aid.

 

Grade Point Average

Credits Earned	Minimum GPA
1-15	1.5
16-30	1.6
31-45	1.7
46-60	1.8
61-120	2.0