1992-1993 Academic Catalog

196 Financial Information years of a program of education leading to a bachelor's degree. 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 five percent interest on the unpaid balance of the loan principle. No payments are required for up to three years while one is serving in the Armed Forces, Peace Corps, Vista, or other areas in special service. Exit interviews will be conducted for graduates and others at the conclusion of each quarter to explain loan deferment and cancellation provisions for borrowers who continue their education or go into certain fields of teaching or specified military duty. Stu.dent Employment College Work Study This federally-funded program is designed to provide work opportunities for college students. Students in this program may qualify for up to thirteen hours a week during the academic year, providing they show a demonstrated need from federal form analysis (i.e., the FAF or other equivalent form). All work assignments are made by the Financial Aid Office. Actual hiring is done 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 the Financial Aid Office. Campus Employment Although not able to guarantee actual job placement, the number of hours worked, or total dollar amount earned, Cedarville College assists needy students by recommending them for part-time employment. Students are employed in various part-time jobs on campus such as maintenance, cafeteria, housekeeping, and others. Part-time work is important not only for financial assistance but also for providing the student with the opportunity to develop discipline in managing his or her time and responsibilities. Valuable socializing skills can also be learned where students work in groups. Part-time student employment is not restricted to upperclassmen, and is encouraged at all levels. The one exception is for students in the Academic Development Program who must have special permission from the Coordinator of Academic Progress to work during their freshman year. Off-Campus Employment Because of the College's reputation for attracting quality students, many area employers contact the Placement Office to employ students on a part-time basis. Sometimes students obtain work related to their fields of study and gain valuable experience as well as income. Though no formal restrictions pertain to this employment, students are encouraged to limit their working hours to approximately twenty hours per week to insure sufficient time to study. Standards of Satisfactory Academic Progress for Recipients of Financial Aid Policy Financial aid recipients at Cedarville College 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. Cedarville College recognizes that conditions which create the need for financial assistance may also create other educational needs which require extra time and slower progress in achieving educational goals. Students who, because of exceptional educational needs, must make slower progress than outlined in the policy or who find themselves victims of unusual circumstances are encouraged to discuss their situations with their academic advisors and the financial aid office. Where legally possible, because of mitigating circumstances, exemption to this policy can be considered. When the Congress of the United States enacted the Higher Education Amendments of 1976, eligible institutions were directed to define and enforce standards of progress for students receiving federal financial assistance. The programs directly involved at Cedarville College are: (1) Pell Grant, (2) The Perkins Loan, (3) The Supplemental Educational Opportunity Grant-SEOG, (4) College Work Study-CWS, and (5) Stafford/SLS/PLUS Loans. Full-Time Students To be eligible for full benefits of federal title IV funds, undergraduate recipients of financial aid must enroll for a minimum of twelve (12) credit hours of classes during each quarter that aid is received. All students are required to have a cumulative grade point average of 2.00 (C) in order to be graduated from Cedarville College. The following academic requirements would be appropriate in achieving this goal and fulfilling the term "carrying to completion" the required credit hours. In order to meet academic progress standards, students must complete a minimum number of credit hours based on a percentage of work to be completed and maintain a minimum cumulative

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