1. Satisfactory Progress Policy
Satisfactory academic standing is required in order for a student to maintain
eligibility for financial assistance. At the end of each semester, after final
grades have been issued, the Director of Financial Aid will verify the academic
standing of each student.
Once a student has reached the point in time when they have registered for
their 60th credit hour, both qualitative and quantitative standards must be met
and measured each semester. “Registered Semester Hours” include all transfer
hours and all hours for which a student has officially enrolled (excluding audit
classes) at Monmouth College. Official enrollment is defined as the hours for
which a student is registered at the end of the period for adding a course.
Qualitative Standard:
Students must maintain a
minimum cumulative GPA of 2.00. A student will immediately lose eligibility for
all Federal and State financial assistance if the student’s cumulative GPA falls
below 2.00. No advance warning of pending loss of financial assistance can be
given.
In the case of a student who
receives a grade equal to “I” (Incomplete) or “IP” (In-progress), the
eligibility for financial assistance for the next semester will be determined
without regard for the “I” or “IP” grade. Subsequent removal of an “I” or “IP”
grade and replacement of those grades with final grades may have an impact on
future semesters and the eligibility for financial assistance, but it will not
have a retroactive affect on semesters for which assistance has already been
granted.
Quantitative Standard:
Students must also be making
incremental progress (consistently earning credits) towards a degree. According
to Federal requirements a student may take up to 150% of the time needed to
achieve and obtain a degree. For example, a student may take up to six years to
obtain a four year bachelor’s degree and still remain eligible to receive
financial assistance. If however, the student is not making incremental
progress towards the degree, a loss of eligibility for Federal and State
financial assistance will occur. No advance warning of pending loss of
financial assistance can be given.
In any semester where a student has lost eligibility of financial assistance,
the student may appeal to the Director of Financial Aid for the reinstatement of
eligibility. The student must show that their cumulative GPA fell to less 2.00
or they failed to make incremental progress towards a degree during the semester
as the result of 1) the death of an immediate relative of the student, 2) a
severe injury to the student, 3) a severe illness of the student, or 4)other
unusual circumstances that interrupted their ability to perform academically.
If an appeal is granted and the financial aid eligibility is restored, the
student will be placed on financial aid probation and will be eligible to
receive financial assistance for one semester. If, at the end of the semester on
financial aid probation, a student does not 1) establish a minimum cumulative
GPA of 2.00 or 2) make incremental progress towards the degree, no further aid
eligibility can be allowed.
2. Refund Policy
When a student withdraws from all classes during a semester, it is the
College’s responsibility to determine the student’s withdrawal date for
the purposes of the return of Title IV (federal) financial aid and the
refund/cancellation of charges and non-federal financial assistance.
Official Withdrawal
For a student to be considered officially withdrawn, he/she must notify
the college in writing or orally of his/her intent to withdraw by
contacting the Office of Student Affairs. The withdrawal date is the date
that the student notifies the Office of Student Affairs of his/her intent
to withdraw and/or begins the withdrawal process by completing a
withdrawal form.
Unofficial Withdrawal
If a student ceases attendance without providing official notification to
the College, the withdrawal date will be the mid-point of the semester,
except that the College may use as the withdrawal date the student’s last
date of attendance at an academically-related activity, as documented by
the College.
Special Circumstances
If the College determines that a student did not provide official
notification because of illness, accident, grievous personal loss, or
other such circumstances beyond the student’s control, the Dean of
Students may determine a withdrawal date related to that circumstance.
Return of Title IV (Federal) Financial Aid
When a student withdraws during a semester, the amount of federal
financial aid earned by the student is determined on a pro-rata basis.
Once a student has completed 60 percent of the semester, he/she is
considered to have earned all of his/her federal financial aid. If the
student has completed less than 60 percent of the semester, he/she is
considered to have earned an equal percentage of the aid originally
scheduled to be received. (Federal Work Study funds are excluded from the
return of Title IV funds requirements.)
If a student has received excess funds, the College must return a portion
of the excess equal to the lesser of:
(A) the student’s institutional charges multiplied by the unearned
percentage of funds, or
(B) the entire amount of the excess funds.
If the aid to be returned is in the form of a loan that has been
released to the student (or parent) borrower, the student (or parent) can
repay the loan in accordance with the terms of the promissory note over a
period of time.
If the aid to be returned is in the form of grant funds, the law provides
that the student may repay 50 percent of the grant rather than 100
percent.
The Title IV funds must be credited to outstanding loan balances or to any
amount awarded for the semester in which a return of funds is required in
the following order:
1. Unsubsidized Federal Stafford Loans
2. Subsidized Federal Stafford Loans
3. Federal Perkins Loans
4. Federal PLUS Loans received on behalf of the student
5. Federal Pell Grants
6. Federal SEOG Grants
7. Other Title IV assistance
Refund of Charges
A student who withdraws prior to completing 60% of the semester is
entitled to a pro-rata cancellation of that semester’s direct costs for
tuition, room and board. Indirect costs such as parking permits,
insurance, books, class fees, etc., will not be pro-rated. After
completion of 60% of the semester, there is no refund of charges.
A student who withdraws before the first day of classes of any semester,
is not considered to have been enrolled for that semester and is therefore
entitled to a 100% cancellation of charges. If a student remains on campus
beyond his/her withdrawal date, he/she will be assessed room and meal
costs based on actual period of residency on campus.
Program fees, housing fees and all other fees assessed to a student’s
account to cover additional charges by a host institution for an
off-campus program will be refunded in accordance with refunds made by the
host institution. Any special travel arrangements or incidental costs due
to a program cancellation will be at the student’s own expense. Monmouth
College may require students to return from an off-campus program at any
time, regardless of whether its sponsor or host institution has officially
cancelled a program.
Refund of Funds from the Illinois Student Assistance Commission
Monetary Award Program (MAP)
Per the rules of the Illinois Student Assistance Commission, if a MAP
recipient withdraws after the end of the second week of the semester, the
student may receive MAP grant payment for costs incurred up to the
semester award provided the college’s tuition refund policy indicates that
the student has incurred charges in the amount of the claim.
Refund of Institutional Financial Aid
Institutional financial aid may consist of Monmouth Grant, Monmouth
Scholarships and Monmouth Loans. The refund/cancellation of institutional
financial aid follows the pro-rata policy for the cancellation of
institutional charges. When a student withdraws prior to completing 60% of
a semester, a pro-rated portion of his/her institutional financial aid
will be returned to the program(s) from which the student received funds.
After completing 60% of the semester, there is no cancellation of
financial aid.
A student who withdraws before the first day of classes of any semester is
not considered to have been enrolled for that semester and therefore 100%
of the student’s institutional aid will be cancelled.
Refund of Private Scholarships, Grants and Loans
Unless otherwise requested by the donor or a private scholarship or grant
award, the funds will be retained to cover the costs incurred by the
student. Excess funds will be returned to the donor. Private/alternative
loans will be the last item retained to cover the costs incurred by the
student. Excess loans proceeds will be returned to the lender.
Summary
In summary, the financial assistance a student is entitled to retain from
each source (federal, state, institutional & private) will be calculated
and kept in the order described below up to the total costs incurred by
the student. When the total assistance a student is entitled to retain is
less than the costs incurred, the student will be billed for the
difference.
1. Private grants/scholarships
2. Other Title IV grants
3. Federal SEOG grant
4. Federal Pell Grant
5. Illinois IIA Grant
6. Illinois MAP Grant
7. Illinois MRS Scholarship
8. Illinois Byrd Scholarship
9. Monmouth College Grants/Scholarships
10. Illinois DTSS Scholarship
11. Illinois MTI Scholarship
12. Federal PLUS Loan
13. Federal Perkins Loan
14. Federal Subsidized Stafford Loan
15. Federal Unsubsidized Stafford Loan
16. Private/Alternative Loan
Loan Exit Interview Required
Perkins Loan and Stafford Loan borrowers are required to have an exit
interview with the Financial Aid Office before leaving campus to ensure
that they fully understand their commitments and obligations under this
federally-funded program.
Appeal Process
An appeal process exists for students or parents who believe that
individual circumstances warrant exception from published College charges
and refund policies. Persons wishing to appeal for special consideration
should address such an appeal in writing to the Vice President for Finance
and Business at Monmouth College.
Effective Date
The charges above are effective July 1, 2006.
Right to Change Charges
Charges are established on an annual basis, and the College makes every
effort not to change them during the year. However, the College reserves
the right to change any and all of the above charges.
