Student Federal Financial AidTitle IV of the Higher Education Act of 1965, as amended in 1998, (Title IV, HEA program) has established general rules that apply to student financial aid recipients and educational institutions administering the financial assistance program (it is not available for international and DBA students).
Lincoln University has approval to participate in the student financial aid programs that include:
· Federal Pell Grant
· Federal Supplemental Educational Opportunity Grant (FSEOG)
· Federal Family Education Loan
· Federal Direct Student Loan
· Federal Perkins Loan
· Federal Plus Loan
· Federal Work Study
Lincoln University financial aid program is geared to assist parents and students who cannot otherwise meet their educational expenses. In determining the eligibility for available financial aid, a financial need is determined by a formula that takes into consideration several factors including:
· Student's Family Income
· Family size
· Family Assets
· Number of family members enrolled in institutions of higher education, not including parents
In addition to the key need factors, the availability of funds will also determine the amount of aid that a student can receive each academic year.
To meet the requirements of Federal Title IV Programs and state grants, students must now comply with a set of: (1) Quantitative, (2) Qualitative, and (3) Time Frame academic measurement standards. These are defined by satisfactory academic progress policy (SAP) for student financial aid recipients.
The Quantitative Measurement requires that all students complete successfully (earn credit hours) at least two-thirds (2/3) of attempted credit hours and meet the standards of satisfactory academic progress described in details in the chart on page 20 of the University catalog. The ratio of earned credit hours is calculated by dividing the number of earned semester credit hours by the attempted number of credit hours in the semester.
The Qualitative Measurement requires students to maintain the minimum acceptable level of academic achievement outlined in the Lincoln University catalogue on pages 19 - 21.
The Time Frame Measurement (Maximum Credit Hours) limits a student to be eligible to receive student financial aid for any attempted credits in his/her program of study so long as it does not exceed 150% of the published length of the academic educational program of study. For example, a student enrolled in a 124-unit degree program may receive financial aid for a maximum of 186 attempted units, and a student enrolled in a 56-unit certificate program may receive the aid for a maximum of 86 attempted units.
Financial Aid Probation Period
If a student fails to meet the standards of satisfactory academic progress, he/she may be placed on Financial Aid Probation for a period of no longer than one year while still participating in the federal financial aid program. The probationary period begins the next semester of enrollment. A letter informing the student of the probationary status and the need to meet the standards to maintain financial aid eligibility will be issued.
Financial Aid Termination
If a student fails to meet the standards of satisfactory academic progress at the end of the one-year probationary period or at the beginning of the second academic year, a dismissal letter from the financial aid program will be issued to the student. The termination status will include a letter informing the student of the Reinstatement and Appeal Process.
Academic Reinstatement Policy and Academic Appeal
At the time when the student meets the minimum satisfactory academic progress requirements, the student financial aid eligibility will be automatically reinstated. Each student may appeal in writing the probation or termination status based on mitigating circumstances to the appropriate academic officers in the Dean’s and President’s offices, respectively. A review of the circumstances will be conducted by the Chief Academic Officer and a hearing committee will be convened to hear, advise, counsel, and resolve the discrepancies in accordance with the grievance procedure.
Application for Federal Student Aid (FAFSA)
All students requesting and qualifying for the financial aid must file the FAFSA application by paper or preferably online at the FAFSA website ( www.fafsa.ed.gov ) and make sure to list Lincoln University (institution number 00697500) as the appropriate institution. A paper copy of the FAFSA application can be obtained in the Student Financial Aid Office. Every eligible student must reapply for the Financial Aid each year. This will entail completing a new FAFSA and a new Lincoln University aid application at a minimum.
Return of Title IV Funds
When a student withdraws from Lincoln University, the Financial Aid Office must calculate the amount of financial aid that is earned by the student prior to withdrawing. If there is any excess aid received, it is considered unearned. The unearned financial aid must be returned to the appropriate programs. The calculation of the earned financial aid is done on a daily basis beginning with the first day of class. The earned aid is determined by calculating the number of days attended before withdrawing, divided by the total number of days in the semester, excluding breaks. In accordance with Federal Regulations, a student who does not come (no-show case) in all enrolled classes will be treated as an Unofficial Withdrawal and 50% of their aid will be returned as required by law. Students who received grades of Failure (F), No Credit (NC), No Basis for Grade (Y), Audit (AU), or Incomplete (I) and have completed their coursework therefore have "earned" those grades. Unless they have unofficially withdrawn, the University will not make adjustments to their financial aid, University will not make adjustment to their financial aid.
School Return Portion
Lincoln University is required to return a portion of the unearned aid based upon a percentage of the institutional charges for the term. After the return portion is determined, it is compared to the total amount of all unearned aid. If the school portion is less than the total unearned aid, then the University must return the amount of the school portion. If the calculated school portion exceeds the total unearned aid, the University must return the amount of the total unearned aid.
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