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2007-2008 Catalog | Financial Aid

Financial Aid Regulations and Restrictions

Rights and Responsibilities of Financial Aid Recipients

Students seeking financial assistance are responsible for filing timely, valid applications for the programs under which they may request aid. Enrollment in non-approved programs may jeopardize eligibility for certain student financial aid awards. Additional information regarding applications and student financial aid rights and responsibilities may be obtained from the Office of Financial Aid.  A request for review of financial aid awards should be made in writing to the Director of Financial Aid and be accompanied by a statement of an annual family monthly budget, as well as tax returns from the prior year.

Standards of Scholarship

Satisfactory Academic Progress

According to financial aid regulations, students must make satisfactory progress toward a degree in order to remain eligible to receive financial aid. Satisfactory academic progress includes both a qualitative (grade point average) and quantitative (number of credit hours completed) measure of the student’s progress. For financial aid purposes, a student must show that a degree program will be completed in six years or fewer, given full-time attendance. This means that a student must enroll for at least 12 semester hours per semester and successfully complete a minimum number of those hours. (see chart)

The Office of Financial Aid will assess the student’s progress at the end of every semester for the New York State Tuition Assistance Program (TAP) and once a year (after spring semester) for all federal aid programs. However, while these are guidelines for "satisfactory academic progress" for financial aid purposes, meeting only the guideline will not ensure a student’s graduation from Roberts Wesleyan in four, or even six, years.

Semester

Min. semester
hours must
be completed

Minimum
accrued
semester hours

Cum.
GPA

1

6

6

1.0

2

6

15

1.5

3

9

27

1.75

4

9

39

2.0

5

12

51

2.0

6

12

63

2.0

7

12

78

2.0

8

12

93

2.0

9

12

108

2.0

10

12

125

2.0

For New York State Tuition Assistance Program recipients, requirements specify that program pursuit must be determined independently for satisfactory academic progress. Satisfactory program pursuit is defined as receiving a passing or failing grade in a certain percentage of full-time course work in each semester for which an award is received. The percentage increases from 50 percent (6 semester hours) of the minimum full-time course work (12 semester hours) in each semester of study in the first year for which an award is received, to 75 percent (9 semester hours) of the minimum full-time course work in each semester of the second year for which an award is received, to 100 percent (12 semester hours) of the minimum full-time course work for each semester thereafter. (see chart)

Note: Students who repeat courses for which they have already received credit will not satisfy this requirement. They must carry additional semester hours for certification for TAP and other New York State programs.

For New York State TAP, a student must have at least a 2.00 cumulative grade point average at the end of the sophomore (second year) of study. (see chart)

Taxability of Financial Aid

Financial aid may be taxable depending on current Internal Revenue Service Laws. Different rules apply for United States residents and non-residents. The student is responsible for payment of any taxes that may be due.

HOPE and Lifetime Learning Tax Credits

The IRS offers these two federal income tax credits (dollar-for dollar reductions in tax liability) for higher education expenses. For more information students can go to www.irs.gov or consult their tax advisor to determine if they qualify for one of these tax credits.