2022–23 Graduate Academic Catalog Page 19 Financial Information Financial Aid Unofficial withdrawals are reviewed at the end of each semester to determine if student has "earned" their financial aid for the term. A financial aid recipient who did not receive any passing grades for the term is considered an “unofficial withdrawal.” Pending information received from the Registrar's office, Cedarville will use either the established date of last academic activity for a student or administratively use the 50% midpoint of the term to determine the amount of earned federal aid. In accordance with federal regulations, when financial aid is involved, return of Title IV funds is allocated in the following order: 1. Unsubsidized Federal Direct Loan 2. Federal Direct Graduate PLUS Loan 3. Federal Teach Grant Responsibility of the University Cedarville University Financial Aid office responsibilities in regard to the Return of Title IV funds include: • Providing each student with information given in this policy. • Identifying students who are affected by this policy and completing the Return of Title IV Funds calculation for those students. • Returning any Title IV funds that are due to the Title IV programs as soon as possible, but no later than 45 days from the determination of a student’s withdrawal. • Offering a post-withdrawal loan disbursement within 30 days of the date the school determined the student withdrew, and allow the student 14 days to respond to written notification. • Issuing a post-withdrawal grant disbursement within 45 days of the date the school determined the student withdrew, if a student has eligibility for the Title IV funds. • Post-withdrawal disbursements will be applied to the student's account. If the disbursement results in an over-payment on the account, a refund will be issued to the student. Eligible post-withdrawal refunds will be issued as soon as possible, but no later than 45 days after the date of the University's determination that the student withdrew. • Though Cedarville University is not required to take attendance, instructors are expected to monitor enrollment regularly and notify the Registrars’ Office of non-attendance. • The Registrars’ Office contacts the student and the instructor to determine the last date of academic related activity. Responsibility of the student The student’s responsibilities in regard to the Return of Title IV Funds include: • When a Return to Title IV calculation is made and a determination has been made that a student is ineligible for a specific amount of federal Title IV aid, a student may both owe funds directly to the federal Title IV program, as well as a balance to the institution. • When a student withdraws with an outstanding Title IV balance, the University must first complete the Return of Title IV calculation, and make any required adjustments to the Title IV credit balance. The adjusted amount of any remaining Title IV credit balance should be refunded to the student within 14 days. • Official withdrawal information is found in the University catalog. Standards of Satisfactory Academic Progress (SAP) for Recipients of Financial Aid All degree-seeking students (both federal Title IV and non-Title IV recipients) will be evaluated for federal Satisfactory Academic Progress (SAP) standards to be eligible in future terms for federal Title IV financial assistance. This policy treats all graduate students the same regardless of program of study, full-time enrollment, or part-time enrollment, etc. 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/sap_gs 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 (e.g., parental contribution, other financial aid, your assets) 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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