Financial Aid

Financial Aid

An extensive financial aid program is available to supplement your and your family’s contributions toward the cost of education, as well as to recognize academic achievement and special talents. The Financial Aid Office is responsible for the processing and awarding of all types of federal, state, private, and institutional funds to students.

Types of Financial Aid

Financial assistance falls within two categories—gift and self-help aid. These aid programs may be awarded on the basis of merit, financial need, or a combination of both. Grants are gift aid awarded based on an analysis of your and your family’s ability to contribute to the cost of education. Scholarships are considered merit awards. Scholarships and grants do not have to be repaid. Loans are considered self-help and must be repaid by the borrower.

Gift Aid

Scholarships

Shawnee State University recognizes students who have demonstrated outstanding academic achievement through a merit based scholarship program.  The University offers two levels of academic scholarship - the President’s Scholarship and the University Professor’s Scholarship.  Awards are based on high school GPA and ACT/SAT test scores.  Visit the Financial Aid website for additional information.  The qualifying GPA and ACT/SAT test scores must be submitted to the Admissions Office no later than February 1.

Through the generosity of others, Shawnee State University has the ability to offer a range of scholarships based on academic ability, individual achievement, and financial need.  Most of these scholarship funds are administered through the Development Foundation and the Scioto Foundation.  The deadline for scholarship applications is February 1 each year.  Information can be obtained on the Financial Aid website.

Grants

• Federal Pell Grant. Pell Grant funds are awarded based on expected family contribution, enrollment status, and the cost of education.

• Teacher Education Assistance for College and Higher Education (TEACH) Grant.  The TEACH grant is available to graduate and undergraduate students who intend to teach full-time for at least four academic years within eight years in high-need subject areas at schools that serve low-income students.

• Federal Supplemental Educational Opportunity Grant (SEOG). SEOG is a federal grant awarded to undergraduate students on the basis of exceptional financial need beyond the Pell Grant. These funds are limited to the amount allocated to the University by the U.S. Department of Education.

• Ohio College Opportunity Grant (OCOG). OCOG is a state-funded grant available to Ohio residents. Award amounts are based on the expected family contribution as determined by the FAFSA. Deadline for application is October 1 of each year.

          Please Note: Under the OCOG program, you must be enrolled in an eligible associate or bachelor degree program.

Self-Help Aid

Student Loans

Federal Direct Loan. The William D. Ford Federal Direct Loan Program includes subsidized and unsubsidized Federal Direct loans. The interest on a subsidized loan does not start to accrue until you graduate, drop below half time, or withdraw from school. The federal government pays the interest for you while you are in school. Payment of principal and interest does not begin until six months after you leave school, and you have up to 10 years to repay the loan.

You may also be awarded an unsubsidized Federal Direct loan. Interest on this loan is not government subsidized; interest begins accruing at the time the loan is disbursed. You may choose to pay the interest while you are in school or have the interest added to the principal loan amount (capitalized).

As with the subsidized Federal Direct loan, payment of principal begins six months after you leave school and you have up to 10 years to repay the loan.

Students must be enrolled at least half time (6 credit hours for undergraduate students, 5 credit hours for graduate students) to be eligible to receive a Federal Direct loan.

Federal Direct Parent PLUS Loan. Additional opportunities to borrow are available through the Federal Direct Parent Loan for Undergraduate Students (PLUS) program. Students should apply for, and finalize, a Federal Direct loan before applying for a Federal Direct Parent PLUS loan because a Parent PLUS loan could reduce the Federal Direct loan amount for which a student is eligible. (For most families, the terms of the Federal Direct loan are more attractive than those of a Parent PLUS loan.)

Federal Direct Parent PLUS loans allow parents to borrow up to the full cost of education minus other financial aid (including the unsubsidized Federal Direct loan). Parent PLUS loans are not dependent upon your family’s income or assets; however, a credit check is required. No collateral or cosigners are required.

The Federal Direct Parent PLUS loan must be used for educational expenses at the school the student is or will be attending. Repayment begins 60 days after disbursement, at a fixed interest rate of 7.9%, each academic year. The parent borrower is responsible for all interest from the day the loan is disbursed.  The parent borrower may qualify for an in-school deferment if his/her student is enrolled in school at least half time.

Federal Direct Graduate PLUS Loan. Additional opportunities to borrow are available through the Federal Direct Graduate PLUS loan. The GRAD PLUS loan is a credit-based loan available to graduate students to help meet the total cost of attendance.

GRAD PLUS loans allow the graduate student to borrow up to the full cost of education minus other financial aid. GRAD PLUS loans are not dependent upon income or assets; however, a credit check is required. No collateral or cosigners are required.

Repayment begins six months after you leave school, at a fixed rate of 7.9%. The student is responsible for all interest from the day the loan is disbursed. The GRAD PLUS loan borrower may qualify for an in-school deferment.

Please Note: For more information on how to apply for a Federal Direct Loan or PLUS loan, Click here.  If you withdraw from the University, you are not eligible for your next semester’s loan check and you must reapply if you wish to continue receiving student loan funds.

Enrollment in a Second Degree.  Students seeking federal financial assistance and pursuing a second associate or second bachelor degree must submit a degree audit to determine grade level for federal loan certifications.

Employment

• Federal Work Study (FWS). The FWS program is available to students who demonstrate financial need through the completion of the FAFSA. All vacant positions are posted on SSU’s Federal Work-Study web page at http://www.shawnee.edu/offices/financial-aid/work-study.aspx. It is the student’s responsibility to secure an interview. You must stop by the Financial Aid Office to obtain an “Authorization to Hire” form before being interviewed. You are paid in accordance with current policy and, in most cases, work 10 hours per week. You are paid, based on the number of hours worked, every two weeks with the regular university payroll. Indicate on the FAFSA that you are interested in a work study position. Students employed through the Federal Work Study program must be enrolled in a degree seeking program for at least six (6) credit hours.

• Student Employment. Regular student employment is available to all full-time university students, regardless of financial need, on the basis of current openings. Please contact Human Resources for further details.

Veterans, State Programs

Veterans receiving the GI bill and students receiving assistance through approved state agency programs (Vocational Rehabilitation, National Guard, etc.) should contact the Office of Financial Aid for assistance with course and attendance requirements and tuition payment.

SSU is a member of Servicemembers Opportunity Colleges (SOC).  Additional information can be found at their website.

Consortium Agreements

During the course of your academic career at Shawnee State University, you may want to take a course at another institution to transfer back to your degree program at SSU.  You might be eligible for financial aid to help cover the cost at both institutions.  To do this, you must complete a Consortium Agreement with both schools.

A Consortium Agreement is a contract between two colleges or universities that recognizes your registration at each location for financial aid purposes.  It also certifies that only one of the two institutions will award your financial aid. 

In a Consortium Agreement, the colleges or universities are referred to as the “Home Institution” and the “Host Institution”:

• The Home Institution is the school that will award the student the degree and the financial aid.
• The Host Institution is the school where the student is temporarily taking courses to transfer back to the Home School to meet degree requirements.

Application Procedure

To apply for federal need based financial aid you must complete the U.S. Department of Education’s Free Application for Federal Student Aid (FAFSA). You can apply on the Web at www.fafsa.gov.  The FAFSA should be submitted as early as possible beginning in January preceding the academic year.

We recommend that you complete your FAFSA as soon as possible after January 1 in order for your FAFSA results to be received by the University in time for consideration for need-based aid.

Eligibility Requirements

To receive Title IV federal aid (PELL Grant, SEOG, TEACH Grant, Federal Direct Student loan, Federal Work Study, Federal Supplemental Opportunity Grant) you must:

• Be a U.S. citizen, a national or permanent resident of the U.S., or be in the U.S. for other than a temporary purpose.
• Comply with U.S. Selective Service registration requirements.
• Be enrolled in a degree-granting program.
• Be making satisfactory academic progress as defined by Shawnee State (see SAP below).
• Not be in default on a Federal Perkins loan, a Federal Family Education loan, Federal Direct Student loan, or Federal Supplemental loan from any school, agency, or lender, or owe an over payment on any Title IV funds.
• Have a valid social security number.
• Have a high school diploma or a recognized equivalent of a high school diploma.

Determining Need

The Federal Methodology (FM) is the calculation used by the federal government to measure your eligibility for assistance. Some federal aid programs require that you show need after the income and (in some cases) assets of your family, as indicated on the FAFSA, have been considered. The Financial Aid Office uses the need analysis information from the FAFSA to determine the amount you and your parents are expected to contribute toward your education. Consideration is given to your and your parents’ adjusted gross income, assets, taxes paid, number of dependents, number attending college, and other factors as appropriate.

The FM performs a separate analysis of income when 1) your parents adjusted gross income is less than $50,000 a year and your parents were eligible to file a 1040A or 1040EZ tax form, or 2) your parents do not file a tax form with the IRS.

If you are independent, you (and your spouse, if applicable) are expected to assist in your educational costs. Your expected contribution is calculated from previous years’ earnings, untaxed income, and a percentage of savings and assets.

The following formula is used for calculating financial need.

    Cost of Education
— Expected Family Contribution
    Calculated Financial Need

Notification and Disbursement

After your FAFSA needs analysis and other documents have been received and reviewed, you are notified either by mail or via your MySSU account of any awards for which you are eligible. If you are accepting or declining any of the awards, follow the process indicated on your award notice.

All awards are subject to revision due to changes in federal funding, student eligibility, clerical errors, failure to provide requested documents, or other circumstances beyond our control.

Federal Aid recipients must be officially enrolled in a degree-granting program to receive any type of financial assistance. All requested documents used in verifying the data provided on the FAFSA must be received by the Financial Aid Office before financial aid can be disbursed.

Disbursement dates and procedures vary depending on the type of assistance. Generally, financial aid awards are credited toward your account each semester. When your grants and scholarships are greater than your university charges, you are issued a refund.  Credit balances are refunded beginning the second week of the semester and weekly thereafter.

Withdrawal Policy for Financial Aid Recipients

Title IV Funds

If you receive Title IV financial aid and withdraw from Shawnee State, the amount of aid earned and unearned will be calculated using the Federal Return of Title IV Funds policy. This policy is a formula that measures the percentage of days enrolled during a semester. The percentage is determined by dividing the number of days enrolled by the number of calendar days in the semester, including weekends. Based on this percentage, Title IV financial aid will be prorated to reflect the amount of aid that was earned during the period of enrollment. The amount of aid that is earned will remain on your account and the amount of aid that is unearned will be returned to the appropriate program. Title IV funds will be returned in the following order:

Unsubsidized Federal Direct Loans
Subsidized Federal Direct Loans
Federal Direct PLUS Loans
Federal Pell Grant
Federal SEOG
Federal TEACH Grant

To learn more about R2T4 and to view a sample calculation, Click here.

Unofficial Withdrawals

If you stop attending Shawnee State and do not officially withdraw, it is considered to be an unofficial withdrawal and subject to the above withdrawal policy. The midpoint of the semester will be used as the withdrawal date. If you never begin attendance in all of the classes for which you have registered, you are considered to be an unofficial withdrawal. It is determined that you have not earned any financial aid. Therefore, all aid will be returned to the appropriate program.

Standards of Satisfactory

Federal regulations require the University to establish and apply reasonable standards of satisfactory progress for the purpose of the receipt of financial assistance under the programs authorized by Title IV of the Higher Education Act. The law requires institutions to develop policies regarding satisfactory academic progress (SAP). Each institution must design criteria which outlines the definition of student progress towards a degree and the consequences to the student if progress is not achieved. Shawnee State students who wish to be considered for financial aid must maintain satisfactory progress in their selected course of study as set forth in this policy.

Institutional Policy

The Financial Aid Office evaluates student academic progress at the end of each semester. Students are evaluated on the basis of grade point average (GPA) and credit hour completion. 

Grade Point Average

To receive financial aid, a student must maintain a minimum qualitative measure of progress defined as cumulative GPA as listed below:

Completion Ratio or Pace

Students must successfully complete (earn) 67% of all attempted credit hours.  The following grades are considered attempted:  withdrawals (WD), incomplete (I), no credit (NC), failure (F), repeated course (R), transfer hours (TC), and all passing grades (A, B, C, D, & P).

All courses attempted are included in the measure even if the student did not receive financial aid at the time the courses were taken.

Maximum Time Frame Limitation

Students are eligible to receive financial aid for up to 150% of the credit hours required to complete their degree.  Bachelor degree students may receive financial aid through the semester they attempt their 186th credit hour.  Associate degree students may receive financial aid through the semester they attempt their 96th credit hour.  Students in approved graduate programs may attempt hours equal to 150% of the program length.

Exceeding the maximum time from limitation results in immediate financial aid suspension.  There is no warning semester granted.

Institutional Procedures

Students are notified of the SAP policy in the Shawnee State University catalog. In addition, the University’s SAP policy is listed on the University’s website.

Financial Aid Warning

A student will be placed on Financial Aid Warning at the end of the first semester the student fails to meet the GPA or pace for academic progress. The student may continue to receive financial aid for the next semester. If the student does not meet the GPA or pace for academic progress at the end of the semester while on Financial Aid Warning, the student will be placed on Financial Aid Suspension.

Financial Aid Suspension and Appeals

A student will be placed on Financial Aid Suspension at the end of the Financial Aid Warning semester if he/she does not meet the pace for academic progress. If a student is on Financial Aid Suspension, he/she is no longer eligible to receive financial aid.

A student may appeal this decision by completing the Standards of Progress Appeal Form, submit a written statement as to why the student did not meet SAP and what has changed that would allow the student to demonstrate satisfactory academic progress. The student may also be required to provide supporting documentation. Reasons for appeal include the following:

• Death of a relative;
• Injury or illness of the student; or
• Other extreme circumstance.

SSU may approve the appeal and reinstate the student’s financial aid eligibility if:

• The school has determined that the student will be able to meet SAP standards after the subsequent semester; or
• The school develops an academic plan with the student that, if followed, will ensure that the student is able to meet SAP standards by a specific point in time.

If SSU approves the student’s appeal for reinstatement of financial eligibility, the student will be placed on Financial Aid Probation or an Academic Plan.

Academic Plan

SSU may create an academic plan to help put the student on track to successful program completion. The academic plan will be developed based on the individual student’s needs.  If the student does not meet these terms, the student will be placed on financial aid suspension for the second time and will no longer be permitted to receive financial aid until the student is meeting Standards of Academic Progress.  A student may register for classes while on financial aid suspension; however, all tuition and fees will be the responsibility of the student.  Once SAP is met, financial aid may be reinstated.

Financial Aid Probation

A student may be placed on Financial Aid Probation for one semester. While on Financial Aid Probation, the student is eligible to receive financial aid. At the end of the probation semester, the student must meet Standards of Academic Progress or the terms of the academic plan to maintain financial aid eligibility. If the student does not meet either of these at the end of the probation semester, the student will be placed on Financial Aid Suspension for the second time and will no longer be permitted to receive financial aid until the student is meeting Standards of Academic Progress.

Consequences of Denial

Students who do not maintain satisfactory academic progress lose eligibility for financial aid until they are back in compliance with the policy.

If the student does not meet Standards of Academic Progress at the end of the probation semester or meet the terms of his/her academic plan, the student will be placed on Financial Aid Suspension for the second time and will no longer be permitted to receive financial aid until the student is meeting SAP.  A student may register for classes while on financial aid suspension; however, all tuition and fees will be the responsibility of the student.  Once SAP is met, financial aid may be reinstated.

If the student experiences an extreme situation that prevents him/her from meeting the terms of his/her probation or academic plan, the student should contact the Financial Aid Office to discuss the possibility of an additional appeal process.