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Eligibility Guidelines For Financial Aid

To receive financial aid, the following requirements must be met:

  • A student must have financial need (exceptions: merit scholarships, tuition assistance and remission of tuition). Eligibility for financial aid is determined on the basis of information submitted by the student and/or his/her parents on the Free Application for Federal Student Aid (FAFSA). The Financial Aid Officer reviews the results of the “Need Analysis” and determines the student’s financial need and what the student and his/her parents can reasonably be expected to contribute toward educational expenses.

  • A student must be enrolled in a degree program and making “satisfactory progress” toward the completion of the program according to the minimum standards of progress. A student not making “satisfactory progress” according to minimum standards of progress is ineligible for financial aid including all loans requiring college certification.

  • A student who has been readmitted to the College will be eligible for financial assistance unless otherwise stated.

  • Satisfactory Progress: To be eligible to receive federal student aid, you must be maintaining satisfactory academic progress. You must be maintaining a “C” average by the time you are halfway through your course of study, or have an academic standing consistent with your institution’s graduation requirements. You must continue to maintain satisfactory progress for the rest of your course of study.

Note: The minimum standards of progress allow the student to spread the period of study over a five-year period of 10 semesters. This means that the College will not certify a student studying full-time for financial assistance beyond five years or 10 semesters. The student studying part-time will be certified for financial aid based on federal and state guidelines. A student on academic probation may receive financial assistance under two conditions. The first condition results when a student is placed on academic probation for the first time and has not interrupted his/her studies at Saint Paul’s College. In order to be declared eligible for financial assistance under this condition, the student must have a mathematical possibility of attaining the minimum standards of progress established for the evaluation period as determined by the student’s time in residence within one grading period (first semester). The formula stated below will be used to ascertain the mathematical possibility.

The second condition results when a student on academic probation withdraws or is dismissed from the College. When this student applies for readmission, he/she will be readmitted on academic probation. The successful applicant will be declared eligible to be given consideration for financial assistance if the student has a mathematical possibility of attaining the minimum standards of progress as determined by the student’s evaluation period within a grading period.

The Formula - The semester hours attempted and the grade points earned during the previous enrollment are increased by thirteen (13) and thirty-three (33) respectively (actual grade points earned plus 33 divided by actual semester hours attempted plus 13=anticipated GPA). If the computed GPA is equal to or greater than the applicant’s required CGPA, the applicant is approved for consideration for financial assistance.


APPLICATION PROCESS - To be considered for financial aid a student must:

  • File each year the Free Application for Federal Student Aid (FAFSA), and submit a completed Saint Paul’s College Financial Aid application to the Financial Aid Office.

  • Submit any additional documents needed for the verification of income such as a Federal Income Tax Return 1040 or 1040A, Social Security benefits, Veterans benefits, Welfare benefits, Retirement benefits and etc.

  • Applicants should submit their Student Aid Report (SAR) and other required documents to the Financial Aid Office by March 30, in order to be considered for priority award packaging.

NOTIFICATION

·  Each financial aid applicant is notified in writing of the action taken on his/her application.

·  A student awarded financial aid must sign an acceptance of his/her award before any grant or scholarship money can be credited to his/her account. A loan promissory note must be signed for all loans and checks endorsed before any money can be credited to a student’s account.


LINKS

www.schoollenderlist.com/spc-private - Saint Paul's College Private Online Lender List.

www.ed.gov/officeslope - The U.S. Department of Education website, help for completing FAFSA, get a copy of FAFSA Express. Title IV codes for colleges.

www.finaid.org - The National Association of Student Financial Aid Administrators free comprehensive guide to sources of financial aid.

www.fastweb.com - A free scholarship search service with a personal on-line mailbox for answers to your questions on financial aid.

www.petersons.com - This website covers everything from admissions tests to graduate studies.

www.collegeboard.com - The College Entrance Examination Board and the Educational Testing Service provide information about college entrance requirements and other educational services.

www.ci.washington.dc.us - Applications and information on scholarships for residents of the District of Columbia.

www.collegiatefunding.com - This website offers a simple, efficient and effective solution to financial aid and all its varied aspect.

Saint Paul's College ● 115 College Drive ● Lawrenceville, Virginia  23868 ● (434) 848-3111 ● www.saintpauls.edu
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