Current Students
Satisfactory Academic Progress ReminderTo be eligible for federal student aid, a student must show academic progress toward a stated degree goal. A student's academic progress is checked at the end of each semester. Beginning with the 2011-2012 school year, students will receive a warning notification if they are in danger of losing their financial aid. Please familiarize yourself with the university's policy for Satisfactory Academic Progress.
It is important, if you plan to use loans at anytime to help pay for your education, that you:
*Complete a Direct Loan Master Promissory Note(MPN) immediately to avoid delays in receiving your loan funds.
*Have your Federal Student Aid PIN ready to Sign in.
*If you do not already have a Federal Student Aid PIN, apply for one now.
*For more information about the Direct Loan Program,click here.
*Contact the Financial Aid Administrator (.(JavaScript must be enabled to view this email address)) for questions about financial aid or to inquire about the current status of your FAFSA and/or awards.
Return of Title IV Funds Policy for Financial Aid Students Who Withdraw or Drop All Courses
The Department of Education requires HCU to maintain and publish a written policy regarding federal financial aid recipients who withdraw or otherwise fail to complete the term for which their financial aid was disbursed. It is extremely important that all students who receive Title IV financial aid and withdraw or drop all courses during the term be aware of the Return of Title IV Funds Policy. Students should understand the impact withdraws or drops will have on the aid released to them and on their eligibility status to receive future financial aid. Title IV aid recipients must be continuously enrolled for at least 60% of the term for which aid is disbursed in order to retain all of the financial aid issued in each term. After the 60% point students are considered to have earned 100% of the Title IV funds disbursed for the term. It is in the best interest of aid recipients to maintain attendance and complete all of their classes each term that they receive federal aid to avoid repayment of funds.
Federal financial aid funds (Title IV Funds) are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, they may no longer be eligible for the full amount of Title IV funds that they were originally scheduled to receive. The Federal Refund and Repayment calculation must be performed for students receiving Title IV aid (Pell, FSEOG, and Direct Stafford Loans) who officially and unofficially withdraw from all courses, drop out of all courses, or are expelled from the University prior to the 60% point of the term. All unearned aid, as determined by the Federal Return of Title IV Unearned Aid calculation, must be returned to the federal aid programs.
Withdrawal Procedure
Students who wish to withdraw from all courses after the semester start date must officially withdraw to zero credits. To withdraw formally from a course or from HCU, a student must begin with the Academic Dean’s Office. HCU will not consider a student withdrawn if he or she simply stops coming to classes. Students who fail to withdraw properly will receive a grade of F on their permanent record. Courses may not be dropped within the last ten class days of the semester without special approval of the Academic Dean due to extenuating circumstances.
Withdrawal Date and Calculation of Earned and Unearned Title IV Financial Aid
For purposes of this policy, the date of withdrawal will be the date the student begins the withdrawal process or the date, as determined by HCU, that the student otherwise notified HCU in writing or verbally, of their intent to withdraw to zero credits. The amount of aid earned is calculated by dividing the number of calendar days from the beginning of the term to the point of withdrawal by the total number of days in the term. This percentage is multiplied by the amount of federal financial aid that was awarded and accepted for the term and becomes the amount of aid that was earned. This is subtracted from the amount of aid disbursed and the balance becomes the amount of unearned aid that must be returned. Responsibility for repayment of these funds will be shared by HCU and the student, according to policies and procedures contained within the federal formula for pro rata refunds of unearned Title IV Aid.
Withdrawal Disbursements
A student may be eligible for a post-withdrawal disbursement if the amount of earned aid is less than the disbursed aid. Students will be notified at the point of withdrawal if they are eligible for a post-withdrawal disbursement as determined by the Office of Financial Aid.
Distribution of Unearned Title IV Aid
In compliance with federal regulations, a school must return Title IV funds to the programs from which the student received aid during the payment period or period of enrollment as applicable, in the following order, up to the net amount disbursed from each source:
• Unsubsidized Direct Stafford loans
• Subsidized Direct Stafford loans
• Direct PLUS loans
• Federal Pell Grants
• Academic Competitiveness Grants
• National Smart Grants
• Federal Supplemental Educational Opportunity Grants (FSEOG)
Federal Work-Study funds paid to recipients will not be included in the computation of earned Title IV aid, nor will these funds be refunded to the federal account from which they were paid. Unearned Title IV grants and loan funds due from HCU will be repaid to the federal accounts for the specified semester. Unearned portions of Title IV grant aid due from the student will also be repaid to the federal accounts by HCU. All repayments made by HCU pursuant to this policy will be charged to your student account.
Unofficial Withdrawals
In the absence of an official withdrawal and the student ceases attendance, the following procedures will apply:
1. A list of students who received all F’s, I’s or U’s for a term (period of enrollment) will be extracted from the Registrar’s Office records.
2. Those students will be notified that they must provide proof to the Office of Financial Aid that documents the last date of an academically related activity, i.e., an exam, daily assignment, attendance in class, etc. If a student cannot get proof from professors that classes were attended, according to federal regulations, the student will be required to pay financial aid back based on the federal calculation.
2a. How the calculation works:
Number of days attended / days in semester (excluding breaks) = % of semester completed.
Total money disbursed X % of semester completed = earned money.
Total money disbursed - earned money = amount to be returned.
3. If the latest date any instructor can document is after the 60% point in the enrollment period, the student is considered to have earned 100% of their financial aid funds and no further action will be required.
4. If the latest date is before the 60% point in the term, the latest documented date or the 50% point in the term (whichever is later) will be used as the last date of attendance by the student.
5. Based on the last date of attendance, a Return of Title IV funds calculation will be processed to determine the type(s) and amount(s) of financial aid to be returned.
6. If documentation indicates no attendance in any class, the student will be deemed ineligible for financial aid per federal regulations and required to repay all aid received for that semester.
7. All financial aid funds to be returned will be the responsibility of the student. HCU will not refund any tuition, fee, and room or board charges.
8. A letter and HCU’s policy on unofficial withdrawals will be mailed to the student notifying them of their obligation at the time HCU returns the financial aid funds.
9. The Business Office will place a Financial Hold on the student’s account until the student has fulfilled their financial obligations in full to HCU.
