2016-17 Undergraduate Academic Catalog

294 / 308

Federal Parent PLUS Loans
Federal PLUS loan funds are available for creditworthy parents
to borrow on behalf of their dependent students. This loan program
is not based on financial need and may be used to replace all
or part of the expected family contribution. Parents may borrow
up to the cost of education less any financial aid the student is
receiving. The U.S. School of Education, who serves as the lender,
generally deducts origination fees that are determined annually.
Repayment begins within 60 days following the final disbursement
of the loan.
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
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 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.
Page 290 2016–17 Undergraduate Academic Catalog
Financial Information Federal Perkins Loans