2004-2005 Academic Catalog

215 Federal Perkins Loans Federal Perkins Loans are available through the University to students who are citizens of the United States and who demonstrate exceptional financial need. Funds are awarded to Federal Pell Grant recipients first. Other applicants are awarded pending availability of funds. The Federal Perkins Loan Fund was established to help students pursue their courses of study at their chosen institutions of higher education. Students are eligible if they are: (1) a national of the United States, in the United States for other than a temporary purpose and intend 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 standard Perkins Loan amount is $1,500. However, the annual amount may be increased as funding allows, to the maximum amount of $20,000 for the undergraduate student. 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 5% interest on the unpaid balance of the loan principle. Exit interviews will be conducted for graduates and withdraws to explain loan deferment and cancellation provisions for borrowers who continue their education or go into certain fields of teaching or specified military duty. Student Employment Federal Work Study This federally-funded program is designed to provide work opportuni- ties for university students. Students in this program may qualify for up to 20 hours a week during the academic year, providing they show a demonstrated need from their federal need analysis (i.e., the FAFSA). 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. Community service positions are also available in this program. For more information, visit www.cedarville.edu/dept/fa/studentemployment.htm 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, cafeteria, 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 the Career Services Office 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. The University recognizes that conditions that create the need for Financial Information financial assistance may also create other educational needs that 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, exceptions 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 University are: (1) Federal Pell Grant, (2) The Federal Perkins Loan, (3) The Federal Supplemental Educational Opportunity Grant-FSEOG, (4) Federal Work Study-FWS, and (5) Stafford/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 12 credit hours of classes during each semester that aid is received. All students are required to have a cumulative grade point average of at least 2.0 “C” in order to graduate from Cedarville University. The following academic requirements would be appropriate in achieving this goal and fulfilling the term “carrying to completion” the required credit hours. 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 gradua- tion requirements. The following illustrates the academic progress policy: Hours attempted 1-32 33-64 65-96 97-192 Completed (percent) 65% 70% 75% 80% MinimumcumulativeGPA 1.7 1.9 2.0 2.0 Satisfactory academic progress means that first-time students must, after a reasonable probationary period not to exceed two semesters except in cases of mitigating circumstances, have registered the minimum cumulative grade point average each semester thereafter above. In addition, these students must complete 65% the first academic year, 70% the second year, 75% the third year, and 80% the fourth year. NOTE: Cumulative grade point average is measured each semester; percentage of work or credit hours completed is measured once each academic year. It is assumed that the majority of students will graduate in the normal time frame. However, no student may continue more than six years to complete his/her academic program. Regardless of the credit hours full-time students attempt, which cannot exceed 192, they must complete the percentage of work (credit hours) and have the appropriate cumulative grade point average as stipulated. Aid recipients who fail to complete the required number of credit hours listed above during the applicable academic year and who do not meet the minimum grade point requirements each semester will be considered as not making satisfactory academic progress. These students will be subject to having their federal aid discontinued, unless there are mitigating circumstances involved that may affect a student’s academic progress. Students who withdraw from all courses during any semester will be required to confer with the Financial Aid Office and other appropriate offices. If permitted to continue, students who withdraw from all courses during each semester for two consecutive semesters will be considered as not making satisfactory academic progress and will be discontinued from receiving federal financial aid. In conjunction with school policy, the grading marks “F”, “I”, and “WF” will not be considered as successful completion of courses attempted. Incomplete “I” grades can be considered when completed according to the provisions in the university catalog. Courses that are repeated will count in the calculation of hours attempted and completed hours earned if the student receives a passing grade; however, all grades received for the course will be included in the grade point calculation. Credit hours in which a “CR” has been earned count toward total graduation requirements but are not used in the computation of grade point averages. Noncredit hours for which an “NC” has been earned are not used in the computation of grade point averages. Repeat course credits earned are averaged into the cumulative grade