1988-1989 Academic Catalog

174 Financial Information FINANCIAL AID General Information Cedarville College has a broad program of financial aid to assist students who are accepted for admission and who demonstrate a need for such help. All grants and awards are made through the Financial Aid Office of Cedarville College. There are limited endowment funds in varying amounts. These funds have been contributed by individual donors. They are gift awards and are awarded based on need and conditions stipulated by the donor. All financial aid, with few exceptions, is based on need as verified by the Financial Aid Form (FAF) of the College Scholarship Ser– vice. For entering students, this form is available in high school guidance offices. Students enrolled at Cedarville College may pick up this form from the college Financial Aid Office. The Financial Aid Form (FAF) and a Cedarville College Application for Finan– cial Aid (CAF) which is available by request from the college Financial Aid Office must be submitted each year for all individu– als applying for financial aid. The Financial Aid Form (FAF) should be submitted to the College Scholarship Service by Febru– ary 15, but not before January 1 of the academic school year for which aid is being requested. Cedarville College accepts the premise that the primary respon– sibility for financing a college education rests with the student and his family. Aid which Cedarville College is able to extend through work opportunities, scholarships, grants, and loans is viewed as supplementary to what the student and his family can provide. Students requiring assistance are expected to carry some of the financial responsibility in the form of loans, personal savings, summer earnings, part-time work, or a combination of these self– helps. It is assumed that education has a high priority in family affairs and that the children will share in implementing this priority. Assistance received at any time from sources other than Cedar– ville College must be reported to the Director of Financial Aid as a part of the student's financial resources. Assistance of this nature will be considered in making appropriate revisions of aid offered by Cedarville College. Financial assistance is awarded for one year only, but may be applied for on a yearly basis. The applicant must continue to meet the qualifications outlined in the financial aid agreement. A notifi– cation of an award is mailed to prospective students as soon as possible after admission to Cedarville College. The amount of assistance awarded is stated on the form, and the student indi– cates acceptance of the award by signing a copy of the form and returning it to the Financial Aid Office. Students are encouraged to repay scholarships or Cedarville College grants when and if they are able, thus providing similar benefits for future students. Such repayment is not obligatory. Cedarville College reserves the right to revoke any grant or scholarship in the case of a student who violates the rules of the college. Cedarville College reserves the right to withhold student tran– scripts for nonpayment of school accounts, loans directly related to educational expenses, and overpayments of any federal or state funds. Students are required to maintain satisfactory academic pro– gress in order to receive or continue to receive financial aid. For additional information, contact the Financial Aid Office. GRANTS AND SCHOLARSHIPS Academic Scholarships Merit-based Presidential Scholarships are available for fresh– men who score in the top 2% on the ACT or SAT assessments. Other academic scholarships are available to students who have demonstrated scholastic ability and a definite financial need. These scholarships range from $300 to $1500 in amount and also may provide an opportunity of employment with the college. Scholarships are awarded on an annual basis and require a minimum cumulative academic average of 3.25 for upperclass– men. Freshman scholarship awards are based on high school rank, academic average (minimum of 3.25) and ACT or SAT scores. Christian character, service, and cooperation are also considered in making these scholarship awards.