General Information
You and your family are expected to make a reasonable effort to assist in financing educational expenses. Financial assistance from the University and other sources should be viewed as a supplement to the efforts of the family/student. In selecting aid recipients, the Financial Aid Office places primary emphasis on financial need, academic achievement, character, and future promise. Financial Aid will not be awarded to students who are not fully admitted to the University, are not maintaining the standards of Satisfactory Academic Progress as established by the University, are in default on a Title IV educational loan, or owe a refund on grants previously received for attendance at the University.
Financial need is evaluated and aid awarded on an annual basis. The student must reapply for financial aid each year. If you are enrolled as a transient student at Faulkner, you are not eligible for student financial aid and should check with your home institution on availability of aid. Eligibility for aid is limited to course work required for the degree program. If you are required to take remedial courses, you will be eligible for assistance for a total of 30 hours of such required courses.
You must report to the Financial Aid Office any scholarship, grant, fellowship, or loan you receive or expect to receive from an outside source. The receipt of such aid may result in the cancellation, reduction, and/or repayment of need-based awards. The Financial Aid Office may cancel, reduce, or require repayment of any award because of changes in financial or academic status, academic program, living arrangements, or enrollment status.
If you receive student financial aid and withdraw from classes completely or drop a class without attending it, any refund to which you are entitled may be returned to the student aid program(s) from which you received assistance. You may also be required to repay amounts received or credited to your account. Student financial aid is awarded based on the assumption that students will enroll for at least 12 credit hours per semester. Awards may be adjusted for any other enrollment status.
Federal student aid and State grants are available for less than full-time and independent students. A Federal Work-Study program award is the amount of money earned during the academic year as a result of work performed. No Federal Work-Study award amount is guaranteed, since earnings will depend on hours worked, pay scale, and availability of jobs.
Faulkner University will disburse one-half of an academic year award during each semester. Student financial aid is awarded for legitimate educational expenses. If you plan to receive educational loans, you are required to complete a loan entrance counseling form before any funds are disbursed. You must also complete an exit interview form before leaving the University.
Financial need is defined as the difference between the cost of attendance and the expected family contribution as established by the federal formula. Need will be met according to the aid programs applied for, the amount requested, eligibility for specific programs, and the availability of funds. A helpful site to help you calculate your expected family contribution (EFC) can be found here.
Basic Eligibility for Federal Programs
To be considered for federal financial aid, you must meet all of the following requirements:
- Maintain satisfactory academic progress as defined in the policy in the University catalog;
- Not owe a refund on any federal/state grant previously received at any institution;
- Not be in default on any federal educational loan received from any institution;
- Be a U.S. citizen or a permanent resident;
- Be registered with the Selective Service, if applicable; and
- Meet certain enrollment status criteria.
Federal programs require that you be enrolled at least half-time. Half-time enrollment is defined as six (6) hours of required course work. Audit hours are not acceptable. Some Federal Pell Grant recipients are eligible for partial awards for less than half-time enrollment. Full-time enrollment is defined as twelve (12) hours of required course work.
All University scholarships require full-time enrollment.
Contact the Financial Aid Office for guidance concerning various program requirements.
Policy for Determination of Satisfactory Academic Progress
The Higher Education Act of 1965, as amended, requires institutions of higher education to establish and apply standards of academic progress that must be met by all students in order to qualify and remain eligible for assistance from the Title IV student financial aid programs. Faulkner University has elected to apply the standards set forth below to all students who receive aid from any of the following programs: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Alabama State Grant, Federal Work-Study (FWS), Federal Perkins Loan, Stafford Loan, the Parent Loan for Undergraduate Students (PLUS), and University grants and scholarships. The standards against which applicants and recipients of financial assistance are measured include both qualitative and quantitative measures.
Qualitative
You must maintain a cumulative minimum grade point average of 1.75 as a freshman, 1.9 as a sophomore, 2.0 as a junior and senior, and 2.0 as a law student and 3.0 as an MSM, MAB, MED, MCJ student.
Quantitative
You must also satisfactorily complete a cumulative minimum of 70% of all credit hours for which you are registered as a freshman, 75% as a sophomore, 80% as a junior and senior, and 80% as a graduate student.
The academic record of each aid recipient is reviewed at the end of each semester. The review includes all semesters of attendance at Faulkner, whether or not financial aid was received. If you fail to meet either of the above requirements, you will be placed on financial aid probation until the next review. You will remain eligible for assistance while on probationary status. If you are already on probation and have not removed the deficiencies and met both the qualitative and quantitative cumulative minimums at the end of the next semester of attendance, you will be placed on financial aid suspension. You will not be eligible for further assistance until such time as the cumulative minimums have been met. Courses in which the following grades are received constitute credit hours satisfactorily completed: A through D; S for pass/fail courses. Courses in which the following grades are received do not constitute credit hours satisfactorily completed: F- failure; I-incomplete; U-failure of pass/fail course. Courses audited may not be used to qualify for financial aid and are not counted in determining the number of hours for which you have registered. Courses failed and then repeated will be counted in your completion rate with Financial Aid. Your scholastic average will include both grades, and both times the course is taken will count as hours for which you have registered.
Courses completed at other institutions, are used in determining eligibility under the quantitative measure. Transfer hours accepted for credit toward a degree from Faulkner will be counted for purposes of the maximum time frame (see next section). Such hours will be counted by subtracting them from the hours normally required for graduation in your program of study.
Maximum Time Frame
The Higher Education Act requires that institutions establish a maximum time frame in which students receiving Title IV funds are expected to complete the program of study and beyond which they no longer qualify for assistance. At Faulkner, eligibility to receive Title IV assistance ends when you have registered for 150% of the number of hours required for graduation in your program of study, including any transferred hours accepted for credit toward the degree. For an undergraduate student, this equates to approximately six academic years of course work, depending on the specific major. Maximum time frames for graduate studies are: master’s- 54 semester hours; doctoral-135 hours.
The Financial Aid Office routinely makes decisions concerning a student’s eligibility to initially receive or continue to receive student financial aid. You may appeal in writing all decisions that impact your eligibility to receive student financial aid. The appeal decision is made by the Director of Financial Aid. Procedures have been developed in an effort to expedite the appeals process and to reach consistent decisions.
The following is a chronological list of the general procedures for a student appeal:
- You appeal in writing, requesting that special consideration be given to a specific situation.
- The Director of Financial Aid uses professional judgement to make a decision on the request.
- If the appeal is approved, you are notified as to the specific restrictions of the approval.
- If the decision of the Director is denial, the student may appeal to the Vice President of Student Services for review.
- He approves or denies the appeal and notifies you.
- His decision is the final decision of the Financial Aid Office.
Following are the most commonly requested exceptions to the policy, including a brief description of the minimum documentation required.
Satisfactory Academic Progress
GPA/ 75 percent minimum credit hours: You must submit a detailed letter explaining the causes beyond your control that brought about the current situation. The letter should include any documentation that would support the appeal (i.e. hospital records, etc.).
Maximum time frame: you must submit a detailed letter explaining why you have exceeded the maximum time frame, including valid reasons for an extension (e.g. transfer hours, change of major, etc.). The letter must include a specific list of the courses you are required to take in order to complete your degree.
Dependency
Independence is granted in cases with unusual circumstances where there is paper documentation to substantiate a student being declared independent.
Adjustment to Income
The Financial Aid Office will consider adjusting your (or your parent’s) income figures to reflect a change in employment if the change was involuntary, permanent, and resulted in substantial loss of income. You must submit a letter explaining the change in income. The letter must include valid reasons why the Financial Aid Office should consider an adjustment. You must also submit substantial third-party documentation of income change (e.g. separation from employment notice). Additionally, you must submit a statement of projected income to include sources of income and any other supporting documents such as check stubs or letters from employers. Additional information regarding the above exceptions is available from the Financial Aid Office.
Student Rights and Responsibilities
As a student, you have the right to know:
- What financial aid programs are available and how you can qualify for them;
- The deadlines for submitting applications for each of the financial aid programs;
- How financial need was determined and what items were considered in your budget;
- How much of your financial need, as determined by Faulkner University, has been met;
- What portion of the aid received is a loan and what portion is a grant;
- The amount of the monthly loan payment and when the payment must start;
- The University’s policies concerning required attendance, enrollment, and academic standing;
- How Faulkner University determines whether you are making satisfactory progress, what happens if requirements are not met, and how eligibility may be re-established;
- How the University distributes student financial aid
- How and when financial aid will be disbursed;
- Names of accrediting organizations;
- The cost of attendance;
- Return of Title IV funds policy;
- How and when you will be paid;
- Graduation and/or transfer-out-rate for student athletes and the general student population;
- Athletic participation rate and financial support data for intercollegiate athletics;
- Drug and alcohol abuse prevention information;
- Campus security annual report; and
- Privacy rights as prescribed by the Family Education Rights and Privacy Act.
Students have the responsibility to:
- Complete all forms accurately and truthfully;
- Submit all required documents on time;
- Pay special attention to and accurately complete your application for student financial aid
- Read and understand all documents and forms that must be signed and keep copies of them;
- Accept responsibility for all agreements that you sign;
- Notify Faulkner and your lender of any changes in address;
- Know and comply with Faulkner University refund procedures;
- Perform in a satisfactory manner the work that is agreed upon in accepting a college work-study job; and
- Know and comply with the deadline for application.