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Important Announcements

Minimal Staffing Alert

Posted 10/21/2014

Friday, October 24, 2014

The Financial Aid Counseling team will be in attendance at a professional development workshop off-site. The Financial Aid Office will remain open to meet with students, but staffing will be minimal. We appreciate your cooperation in advance.

Important Financial Aid Polices

Post 8/10/2012

Satisfactory Academic Progress

Federal regulations require that financial aid recipients meet certain academic standards to be eligible for federal financial aid. To ensure financial aid recipients are making Satisfactory Academic Progress (SAP), academic transcripts are reviewed at the end of each term to determine eligibility for the next term.  All terms of attendance are reviewed, including periods in which the student did not receive financial aid. Read More.

Return of Title IV Funds

If you withdraw from all of your courses during the term, we are required to determine if any of the federal financial aid you received should be returned. Federal financial aid is based on the length of time you are in classes, so if you do not attend the entire term, we may be required to return all or a portion of the aid you received. Read More.

Repeated Coursework Policy

Per federal regulations, repeated coursework that falls under the following conditions cannot be included in a student's enrollment status for Title IV Federal Aid eligibility, including the Federal Pell Grant and Federal Stafford Loans:

Repeating a previously passed course more than once. A course is considered passed if the student receives a grade of D or better.

Repeating a previously passed course due to failing other coursework. Read More.

Obtain a Tax Transcript from the IRS

Beginning with the 2012-2013 academic year, copies of tax returns are no longer an acceptable form of income documentation. Please do not submit copies of your 2011 federal tax returns unless specifically asked to do so. Documentation of items found on a tax return will need to be completed either by using the ‘Link to IRS’ feature found on the FAFSA website (preferred method) or requesting a tax return transcript from the IRS. There are three ways to request your tax return transcript: online, by phone, or by mail/fax. Please make sure you request a Tax Return Transcript. Do not request a Tax Account Transcript or Record of Account because they cannot be used for financial aid verification purposes.

Expected Family Contribution

The lower a student's Expected Family Contribution (EFC), the higher the student's federal student aid eligibility. A change has been made to the income amount that is used to determine if a student qualifies for an automatic EFC of zero.

When you complete the Free Application for Federal Student Aid (FAFSA), you receive an Expected Family Contribution, which is a number used to determine your federal student aid eligibility. For the 2012-13 school year, you will automatically qualify for an Expected Family Contribution of zero if your family income does not exceed $23,000. This is a reduction from the previous maximum income of $32,000.

Federal Pell Grant Program — Duration of Eligibility

Once you have received a Pell Grant for 12 semesters, or the equivalent, you will no longer be eligible for additional Pell Grants.

You are eligible to receive a Pell Grant for up to 12 semesters or the equivalent. If you have exceeded the 12-semester maximum, you will lose eligibility for additional Pell Grants beginning in 2012-13 school year. Equivalency is calculated by adding together the percentage of your Pell eligibility that you received each year to determine whether the total amount exceeds 600%.

For example, if your maximum Pell Grant award amount for the 2010-2011 school year was $5,550, but you only receive $2,775 because you were only enrolled for one semester, you would have used 50% of your maximum award for that year. If in the following school year, you were enrolled only three-quarter time, you would have used 75% of your maximum award for that year. Together, you would have received 125% out of the total 600% lifetime limit.

    Attending Classes and FATV

    Posted: 8/10/2012

     

    • Attending class(s) that you are enrolled in is not just a good idea…it is required. Students who do not attend class(s), particularly during the first few weeks of each semester, risk having their enrollment and financial aid canceled. Don’t let this happen to you…attend all of your classes!

    • FATV is here! Have questions about financial aid and don’t want to wait until the office is open? Don’t! FATV is an online host of dozens of short videos that addresses the most commonly asked questions about financial aid. Please visit the Financial Aid website at http://ru.financialaidtv.com and experience the 24 hour a day service created just for you.

    For more Roosevelt financial aid information, visit www.roosevelt.edu/financialaid.