Financial aid is generally available for four academic years at Central College. Renewal is not automatic, however, and it is your responsibility to see that all requirements for renewing aid are met. Continuation of financial aid beyond the fourth year may be considered if you have previously formalized your intention to enroll as a part-time student or you have been granted an extra semester or year based on an appeal documenting circumstances beyond your control that either prevented you from completing your degree requirements in the traditional four-year-time-frame or that require you to be enrolled for a semester beyond graduation.
Application materials are distributed late in the fall semester through your Central e-mail account. You will be notified in late spring or early summer of the aid awarded for the next academic year.
Satisfactory academic progress standards for financial aid:
Students receiving financial assistance are required to maintain satisfactory academic progress during their enrollment at Central College in order to receive financial assistance. Satisfactory academic progress (SAP) measures both a qualitative and quantitative component. SAP is achieved when a student maintains both the required grade point averages and the required completion rate.
Required Grades (Qualitative Measure):
At the end of each academic term (fall, spring, summer), the student’s cumulative grade point average will be reviewed. Students with a grade point average lower than that required to be considered making satisfactory academic progress for financial assistance will be placed on financial aid warning for the following semester. During the warning period the student may be able to receive financial assistance, but if the student fails to achieve the required cumulative GPA at the end of the next semester the student’s financial assistance will be suspended.
When academic progress is measured: Students must achieve:
After 1 semester 1.700
After 2 semesters 1.800
After 3 semesters 1.900
After 4 semesters 2.000
After 5 semesters 2.000
After 6 semesters 2.000
After 7 semesters 2.000
Required Completion Rate (Quantitative Number):
In addition to maintaining the grades specified above, students must progress toward completion of a degree program within a specified time frame. In order to meet these minimum requirements, Central students must complete:
23 semester hours of credit at the end of one full academic year
47 semester hours of credit at the end of two full academic years
75 semester hours of credit at the end of three full academic years
106 semester hours of credit at the end of four full academic years
If a student falls short of any completion rule, (qualitative or quantitative) the student’s financial assistance will be placed on warning for the following semester. During the warning period a student will be able to receive financial assistance. If the student fails to successfully complete 67% of the attempted credits during the next semester of enrollment (the semester of the warning period) financial aid will be suspended beginning with the next term. Suspension of aid is the loss of financial aid eligibility and will result in no aid for the term. Suspension of financial aid is not the same as academic suspension which is handled by the associate dean of academic affairs office. Successful completion of credits means that a student completes and successfully passes said credits.
Please note that this is the satisfactory academic progress policy for determining financial aid eligibility. Academic policies that relate to academic probation and academic suspension from the college may differ. For more information, see “Academic Warning, Probation and Dismissal under Academic Policies.” Students receiving tuition remission or tuition exchange employee benefits for dependent children and spouses must meet these standards to continue receiving the employee benefit.
Incomplete Grades: An incomplete or “I” grade will be treated as a failing grade in the cumulative GPA. If a grade is later given for the course, it is the student’s responsibility to notify the director of financial aid so that academic progress may be reassessed.
Withdrawals: Credits from which the student has withdrawn or received a grade of “W” will be counted as attempted credits for purposes of determining satisfactory academic progress. However, credits dropped prior to the end of the add/drop period will not count as credits attempted.
Repeated Coursework: When a student repeats a course, the most recent grade received will be used in the calculation of the cumulative grade point average. Each time the course is taken, the credits for the course will count as attempted credits.
For the purpose of administering federal financial aid (i.e. Title IV funding), the following restrictions apply to all courses appearing on a student’s academic transcript.
Transfer Students: Transfer credits that are accepted at Central College will be counted toward the total attempted credits in determining whether the student is maintaining satisfactory academic progress.
Re-establishing Eligibility: A student who has lost financial assistance eligibility can regain eligibility by making up deficiencies while not receiving aid. It is the student’s responsibility to notify the Director of Financial Aid to request aid reinstatement when this has been accomplished.
Appeals: A student that does not meet the minimum completion rules and/or GPA requirements to be considered as maintaining satisfactory academic progress, may appeal in writing to the Director of Financial Aid for extenuating circumstances, such as the death of a family member or an illness or injury to the student.All appeals MUST be made in writing and include:
An appeal committee will review the student’s appeal request and notify the student of their decision in writing within one calendar week of receipt of the appeal.