2019-20 Undergraduate Academic Catalog

Federal Direct Stafford Loans Federal Subsidized and Unsubsidized Stafford Loans Federal Stafford Student Loan funds are available to dependent or independent undergraduate students. The federal government will subsidize (pay) the interest on subsidized loans while the student is in school and during a six month grace period following withdrawal or graduation. For detailed information see cedarville.edu/Loans . In addition, if a student is enrolled for less than a full academic year immediately preceding graduation, the annual loan limit may be prorated based on the number of credits remaining to complete the program of study. Specific questions relating to the federal regulations outlined above may be directed to Financial Aid. 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. 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. 2019–20 Undergraduate Academic Catalog Page 335 Financial Information Federal Direct Stafford Loans