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Federal Perkins Loans

Federal Perkins Loans are available through the University

to students who are citizens of the United States and who

demonstrate exceptional financial need. Funds are awarded to

Federal Pell Grant recipients first. Other applicants are awarded

pending availability of funds.

The Federal Perkins Loan Fund was established to help

students pursue their courses of study at their chosen institutions

of higher education. Students are eligible if they are: (1) a

citizen of the United States, in the United States for other than

a temporary purpose and intend to become a permanent

resident thereof, a permanent resident of the Trust Territory of

the Pacific Islands, or the Northern Mariana Islands; (2) in need

of the amount of the loan to pursue a course of study at an

eligible institution; (3) capable, in the opinion of the institution,

of maintaining good standing in such course of study; and (4)

accepted for enrollment as at least a half-time undergraduate

student. Continuing students must be in good standing and

enrolled as at least a half-time undergraduate.

Repayment begins nine months after graduation or when a

student leaves school for other reasons. One may have up to

10 years to pay back the loan, depending upon the aggregate

amount borrowed. During the repayment period, the borrower will

be assessed 5 percent interest on the unpaid balance of the loan

principle.

Student Employment

Federal Work Study

This federally funded program is designed to provide work

opportunities for University students. Students in this program may

qualify for up to 20 hours of work a week during the academic

year, providing they show a demonstrated need based on their

FAFSA. Actual hiring is handled by the department supervisors

who will employ the students. As with campus employment, actual

job placement, number of hours worked, and total dollar amount

earned cannot be guaranteed by Financial Aid. Community service

positions are also available in this program. Visit

cedarville.edu/ studentemployment

for more information.

Campus Employment

Although unable to guarantee actual job placement, the

number of hours worked, or total dollar amount earned, Cedarville

University assists needy students by recommending them for part-

time employment. Students are employed in various part-time jobs

on campus such as maintenance, dining hall, housekeeping, and

others.

Part-time student employment is not restricted to

upperclassmen and is encouraged at all levels.

Off-Campus Employment

Because of the University’s reputation for attracting quality

students, many area employers contact Career Services to employ

students on a part-time basis. Though no formal restrictions

pertain to this employment, students are encouraged to limit their

working hours to approximately 20 hours per week to ensure

sufficient time to study.

Standards of Satisfactory Academic

Progress for Recipients of Financial Aid

Policy

Financial aid recipients at Cedarville University are required to

achieve satisfactory academic progress to be eligible to continue

to receive federal financial assistance. The purpose of this policy

is to define the requirements for satisfactory academic progress as

it pertains to recipients of Title IV federal aid programs.

See

cedarville.edu/UG_SAP_Policy

for complete information

related to Satisfactory Academic Progress.

Student Rights

1. You have the right to know what financial aid programs are

available at your school.

2. You have the right to know the deadlines for submitting

applications for each of the financial aid programs available.

3. You have the right to know how financial aid will be

distributed, how decisions on that distribution are made,

and the basis for these decisions.

4. You have the right to know how your financial need was

determined. This includes how costs for tuition and fees,

room and board, travel, books and supplies, personal

and miscellaneous expenses, etc., are considered in your

budget.

5. You have the right to know what resources (such as

parental contribution, other financial aid, your assets, etc.)

were considered in the calculation of your need.

6. You have the right to know how much of your financial need

as determined by the institution has been met.

7. You have the right to request an explanation of the various

programs in your student aid package.

8. You have the right to know your school’s refund policy.

Student Responsibilities

1. You must complete all application forms accurately and

submit them on time to the right place.

2. You must provide correct information. In most instances,

misreporting information on financial aid application forms

is a violation of law and may be considered a criminal

offense that could result in indictment under the U.S.

Criminal Code.

3. You must return all additional documentation, verification,

corrections, and/or new information requested by either

Financial Aid or the agency to which you submitted your

application.

4. You are responsible for reading and understanding all forms

that you are asked to sign and for keeping copies of them.

5. You must accept responsibility for all agreements that you

sign.

6. You must perform the work agreed upon in accepting a

University employment award.

7. You must be aware of and comply with the deadlines for

application or reapplication for aid.

8. You should be aware of your school’s refund procedures.

All schools must provide information to prospective students

about the school’s programs and performance. You should

consider this information carefully before deciding to attend a

school.

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284

2015–16 Undergraduate Academic Catalog

Financial Information

Federal Perkins Loans