1993-1994 Academic Catalog

Other Educational Loans Loans may be available through local banks or specific organiza– tions. Teacher education majors may qualify for a loan through the Ohio Student Loan Commission. Specific eligibility requirements are maintained. Teacher education loans may be forgiven due to teaching service. High school guidance counselors can provide information concerning many of these loan programs. Children of farmers can arrange educational loans through their local Produc– tion Credit Association Office. The director of financial aid can supply additional information concerning the above loan opportuni– ties. Perkins Loans Perkins Loans are available through the College to students who are citizens of the United States and who can demonstrate financial need to meet educational expenses. Detailed information and application forms are available from the director of financial aid. The Perkins Loan Fund (NDSL) was established to help students pursue their courses of study at their chosen institutions of higher education. A student is eligible if he is: (1) a national of the United States, in the United States for other than a temporary purpose and intends 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. The statute governing the Perkins Loan Fund does not restrict the amount which may be granted per academic year. However, the aggregate of all loans for all years from the PLF may not exceed: (1) $18,000 in the case of any graduate or professional student, including any loans from such funds made to such person before he or she became a graduate or professional student; (2) $9,000 in the case of a student who has successfully completed two academic years of a program of education leading to a bachelor's degree, but who has not completed the work necessary for such a degree, including any loans from such made to that person before he or she became such a student; and (3) $4,500 in the case of any student who has not completed two academic 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 bor– rowed. 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 cancella– tion provisions for borrowers who continue their education or go into certain fields of teaching or specified military duty. 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 employ– ment, students are encouraged to limit their working hours to approximately twenty hours per week to insure sufficient time to study. 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 educa– tional 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 consid– ered. 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, under– graduate 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 llcarrying to completionll 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 grade point consistent with the requirements for graduation. The following illustrates the academic progress policy: Hours anemou~a Completed (percent) Completed (credits/yr) Completed (cum credits) Minimum cum GPA 1-48 653 31 31 1.70 49-96 703 34 65 1.90 97-144 753 36 101 2.00 145-240 803 38 139 2.00