Quincy University offers a comprehensive financial aid program of scholarships, grants, loans and campus employment opportunities designed to keep the cost of education within the reach of all qualified students. Aid is awarded on the basis of academic excellence, as well as demonstrated financial need. To receive Federal Student Aid, a student must have submitted all required application materials and be formally accepted in an eligible degree program.
Students wishing to be considered for federal, state, and need-based institutional financial assistance should submit a Free Application for Federal Student Aid (FAFSA) or the Renewal FAFSA as soon as filing becomes available. Deadlines for federal and state programs can vary; therefore, early filing of the FAFSA is highly recommended.
Financial Aid Programs
Various state and federal financial aid programs are available to eligible degree-seeking Quincy University students. Following are brief descriptions of the major programs.
Federal Pell Grant
The value of this grant is set by federal regulation for eligible students. The maximum award varies from year to year. Application must be made annually with the Free Application for Federal Student Aid (FAFSA).
Pell Grants are the foundation of federal student financial aid, to which aid from other federal and nonfederal sources might be added. Pell Grants are generally awarded only to undergraduate students that have not earned a bachelor’s degree. You can receive Pell Grants only up to 12 full-time semesters, or the equivalent.
Federal Supplemental Educational Opportunity Grant (SEOG)
The Federal SEOG is a limited-fund award available to degree-seeking undergraduate students who demonstrate substantial financial need. As with the Federal Pell Grant, these funds are available for the first Bachelor’s degree only. Due to Federal guidelines, preference is given to Pell Grant eligible students, going to the neediest students first as reflected in a Student Aid Index (SAI of $0 or less).
Illinois Monetary Award Program (MAP) Grant
The Illinois Student Assistance Commission (ISAC) offers a need-based grant to eligible Illinois residents. The maximum amount is established by the state government and may change on an annual basis. Application for the MAP Grant is made by properly completing the FAFSA. MAP grants are limited based on the number of applicants and funding levels appropriated by the Illinois General Assembly. Please be aware that in light of state funding constraints, reductions to estimated or actual grants are possible.
Federal Work-Study Program (FWS)
This program provides part-time, on-campus employment for students with established need who applied by the priority date. The Office of Student Financial Services will post information about available job opportunities. Many students find employment at the annual job fair that is held at the beginning of fall semester.
Federal Direct Subsidized and Unsubsidized Loan Program
This program generally enables undergraduate students to borrow annual amounts of $3,500 for freshmen, $4,500 for sophomores, and $5,500 for juniors and seniors. Dependent undergraduates whose parents can borrow PLUS Loans may borrow an additional annual amount of $2,000 through the unsubsidized Federal Loan Program. Undergraduate dependent students whose parents cannot borrow PLUS Loans and undergraduate students meeting the federal criteria for independent status may borrow for the freshman and sophomore years an additional annual amount of $6,000 through the unsubsidized Federal Loan Program while students at the junior and senior level may borrow up to an additional $7,000 per academic year.
The interest rate on subsidized loans made to undergraduate students under the Federal Direct Loan Program are announced each July for the upcoming award year. Interest rate reductions do not affect the interest rates of any prior subsidized loan made to undergraduate borrowers; the interest rates on those prior loans remain unchanged. All Direct Loans have a fixed interest rate.
Federal Direct Parent Loan for Undergraduate Students (PLUS)
Parents (or stepparents) who need additional funds to assist students with educational expenses may borrow up to the cost of education minus any financial aid. To apply for the Federal Direct Parent Loan (PLUS), the parent must complete the PLUS Loan application and the PLUS Master Promissory Note (MPN) at studentloans.gov. Direct PLUS Loans have a fixed interest rate. A PLUS Loan applicant must not have an adverse credit history.
V. A. Benefits
Quincy University is approved by the State Approving Agency for educational assistance benefits to veterans and veterans’ dependents and by the U.S. Department of Homeland Security. Quincy University participates in the Yellow Ribbon Program.
Vocational Rehabilitation Services
Students having disabilities which limit them vocationally may be eligible for the services of their state’s department of rehabilitation. These services include vocational counseling and training, payment of tuition, fees, books, and job placement. Contact your local department of rehabilitation office for details.
External Sources of Funding and Institutional Awards
The Office of Student Financial Services retains the final authority to revise financial aid awards to ensure compliance with federal, state and/or institutional regulations. In circumstances where a student receives funding from external sources, the Office may adjust institutionally awarded aid to maximize eligibility for external funding, as allowed by law.
Enrollment Status for Financial Aid Eligibility
Undergraduate students in the traditional program and the Professional Studies (PS) are considered full time when they are enrolled and attending 12 credit hours or more each semester.
Three-quarters time attendance is applied to undergraduate students who are enrolled and attending 9 to 11 credit hours.
Half-time students in the undergraduate program are enrolled and attending 6 to 8 credit hours. Academic standing at Quincy University is based on the student’s cumulative grade point average in residence. Academic standing for transfer students will be based on the number of semesters a student has been enrolled at all colleges/universities the student has attended.
Enrollment Status for Financial Aid Eligibility and Statement of Satisfactory Academic Progress
In order to remain eligible for financial aid, Quincy University students must adhere to the following standards. These requirements include a minimum cumulative grade point average, minimum pace at which a student must progress through their educational program to ensure that the student will complete the program within the maximum time frame, and completing the degree within a specified time limit.
Students who do not meet Satisfactory Academic Progress (SAP) will be notified by letter and email of the SAP status. Those communications will provide an explanation of which measurement(s) are below accepted standards. Additionally, both communications will provide instructions for appealing eligibility for Title IV financial aid and the documentation required for such consideration. Appeals are reviewed by a committee of faculty, academic staff, and a member of the Student Financial Services staff. Decisions of the committee are considered final. See below for further explanation.
Quantitative Measurement (Cumulative Grade Point Average)
A minimum cumulative grade point average, consistent with good standing, must be maintained. Undergraduate students that have attended for two years (four semesters) must have a 2.00 or higher cumulative grade point average. Undergraduate students that have not yet completed four semesters must meet a graduate cumulative grade point average stander of 1.50 after their first semester, 1.60 after their second semester, 1.70 after their third semester. Graduate students, regardless of length of attendance, must maintain a cumulative grade point average of at least minimum 3.0.
Withdraws, repeated classes previously passed, and incompletes are not counted in the GPA calculation in determining the qualitative measurement of satisfactory academic progress.
Academic standing at Quincy University is based on the student’s cumulative grade point average in residence. Academic standing for transfer students will be based on the number of credit hours the student has been enrolled in at all colleges/universities the student has attended.
Quantitative Measurement (Pace of Progression)
Pace is defined as the rate at which a student must progress through their educational program to ensure that the student will complete the program within the maximum time frame. Pace is calculated by dividing the cumulative number of hours a student has completed by the cumulative number of hours attempted. Students, regardless of educational program, must successfully complete 75% of cumulative credit hours attempted by earning a pass or a grade of D or higher. Withdraws, repeated classes previously passed, and incompletes will not be counted as credit hours earned, but will be counted as hours attempted. Credit hours from another institution that are accepted towards a student’s educational program will count as both attempted and completed hours.
Students not completing 24 credit hours during an academic year due to a grade of incomplete (IN) should notify the Financial Aid Office as soon as the course is successfully completed with a passing grade. The Registrar’s Office will notify Financial Aid when there is a change of grade.
Maximum Time Frame
Students may attempt no more than 150% of the credit hours required for their degree program and retain financial aid eligibility. For example, a student in a 120-hour bachelor’s program could attempt no more than 186 hours and remain eligible for aid. Students in a 30-hour master’s program have a limit of 45 attempted hours. Transfer credits accepted by the Office of the Registrar are counted as both attempted and earned hours. Courses with incompletes, withdrawals and/or grades of “F” are included as attempted hours. Hours are counted for all terms, even those for which a student did not receive financial aid as well as those usually waived under academic amnesty policies such as the New Start Policy. Undergraduate students in programs requiring more than 120 credit hours may appeal for an extension of their aid eligibility if necessary.
Satisfactory Academic Progress Definitions
Beginning July 1, 2011, institutions administrating Title IV, HEA program funds will use standardized terminology. The following definitions apply to terms used in monitoring Satisfactory Academic Progress (SAP):
Financial Aid Warning-A status assigned to a student who fails to make satisfactory academic progress at an institution that evaluates academic progress at the end of each payment period.
Appeal-A process by which a student who is not meeting the school’s standards is allowed to petition the institution for reconsideration of the student’s eligibility for Title IV funds.
Financial Aid Probation-A status assigned by an institution to a student who fails to make satisfactory academic progress and who appealed and has had eligibility for aid reinstated.
Monitoring
- Frequency of Evaluation-Satisfactory Academic Progress is evaluated at the end of every payment period. The payment period is the summer term, fall semester, and spring semester for undergraduate students. Summer will count as any other payment period.
- Financial Aid Warning-Students will be granted Financial Aid Warning automatically, without a written appeal from the student. A student on Financial Aid Warning may continue to receive Title IV aid for one payment period despite a determination that the student is not meeting SAP standards.
Students must make SAP after Financial Aid Warning or their aid eligibility will be terminated. Students have the option to appeal their aid termination and if approved will be placed on Financial Aid Probation. Students that do not receive appeal approval will not be eligible to receive financial aid until the SAP requirements are met.
- Financial Aid Appeal-Appeals are student initiated. A student may appeal for Financial Aid Probation based on mitigating circumstances, such as death of a relative, injury or illness of the student, or other special circumstances.
- Appeals must be in writing to the Financial Aid Appeal Committee and delivered to the Office of Student Financial Services. Appeals forms may be obtained either from Student Financial Services or from the Quincy University website.
- The student’s appeal must include:
- Why the student failed to make SAP
- What has changed that will allow the student to make SAP at the next evaluation
- Students are encouraged to include supporting documentation
- A student approved for Financial Aid Probation may receive Title IV program funds for one payment period. While a student is on financial aid probation, the institution may require the student to fulfill specific terms and conditions such as taking a reduced course load or enrolling in specific courses.
- Eligibility will be reinstated if the student is meeting SAP standards following the Financial Aid Probation period or it is determined that the student met the requirements specified by the institution in the student’s academic plan developed during the appeal process. If the student fails to meet these requirements, the student will be placed on termination status, ending aid eligibility.
- Students placed on academic suspension will automatically be placed on financial aid termination. Students that successfully appeal academic suspension must also appeal financial aid termination status.
- To have aid eligibility reinstated after it has been terminated, the student must achieve SAP for one regular academic term at Quincy University and make payment from personal funds. The student must have the cumulative grade point average specified under Qualitative Measurement Standards and meet pace requirements that would ensure that the student would complete the program within the maximum time frame. At the conclusion of that term, the student may petition the Financial Aid Appeal Committee for reinstatement of aid eligibility.
Scholarships and Grants
Quincy University endeavors to acknowledge and reward excellence in academic performance, athletic achievement, and other special areas through generous institutional scholarships and grants. Athletic awards are given based on guidelines set forth by the NCAA Division II and Quincy University. Academic and special talent awards are renewable as long as the student continues to achieve or exceed the standards established by Quincy University for the award. Quincy University reserves the right to adjust institutional awards based on funds received from outside awards.
Students choosing to live off campus that do not meet the University’s criteria for off campus living will not be in good standing with the University and therefore ineligible for institutional financial aid. This policy only impacts aid provided directly by Quincy University, not federal, state or private loans, or outside scholarships.
Students choosing to live off campus that do meet the University’s criteria for off campus living will be awarded institutional dollars up to the established level of institutional funding for non-resident students. This policy only impacts aid provided directly by Quincy University, not federal, state or private loans, or outside scholarships.
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