• Federal regulations require Lourdes University to establish and implement a policy to measure if a financial assistance applicant is making satisfactory progress toward a degree or certificate. Satisfactory academic progress is measured by evaluating three criteria:
• Qualitative Progress (GPA Requirement) 
• Quantitative Progress (Quantity of Work Completed) 
• Progress toward your degree (Program Completion Requirements)
  
  These criteria evaluate: the quality and quantity of the academic work you complete and progress toward completion of your academic program. The satisfactory academic progress requirements listed below are minimum standards. Students are encouraged to exceed all of the requirements whenever possible.
  Recipients of federal student aid are expected to meet the Lourdes University Satisfactory Academic Progress Criteria. Failure to do so may result in denial of federal financial aid funds. Briefly, the policy requires that aid recipients satisfactorily complete a percentage of courses attempted, complete a degree program in a reasonable amount of time, and achieve and maintain a cumulative grade point average of 2.0 or higher after four semesters of attendance.
  
  A formal review of each recipient’s academic transcript for the entire time the individual has been enrolled at Lourdes University is conducted at least once per year.
  
  Please see the Lourdes University Satisfactory Academic Progress Policy (pdf link) for complete details.
  
  Programs Governed by this Policy: Funds affected by this policy include all applicable federal, state, and college administered funds including but not limited to Federal Pell Grant, Federal Supplemental Education Opportunity Grant (SEOG), Federal Perkins Loan, Federal Direct Stafford Loans, Federal Direct Parent Loan for Undergraduate Students (PLUS), Federal Work Study, State Scholarship and Grant programs, all scholarships administered and/or provided by Lourdes University.
  
  Minimum Cumulative Credit Hours Completion:
  Financial aid recipients must satisfactorily complete a minimum standard of cumulative credit hours attempted. Courses are not satisfactorily completed if a grade of F, FA, I, U, DR, AU, or WD is assigned. Every semester for which a student registers is evaluated, including those in which the student did not receive federal financial aid.
  
  Repeated Courses: Financial aid will be awarded when a student is permitted by University policy to repeat a course for credit or inclusion in grade point average calculation. Repeated courses are included in determining satisfactory academic progress.
  
  Reinstatement of Financial Aid Eligibility: Students who do not maintain satisfactory academic progress shall lose their eligibility for financial aid and may only regain eligibility by eliminating all satisfactory progress deficiencies at their own expense or by appealing their satisfactory academic progress status.
  
  Appeal: Students who have been denied financial aid based on this policy have the right to appeal to the Financial Aid Office. The appeal process is outlined in a letter sent to students whose aid has been terminated and is also outlined in the Policy.

Cost of Attendance: The total average cost of attending Lourdes University for one academic year. This amount includes tuition, general fee, books and supplies, transportation, personal expenses and board. It is also referred to as the Student Budget or Estimated Cost of Attendance.

Disbursement: A payment of aid released to your bursar account.

Expected Family Contribution (EFC): The amount that you and your family are expected to pay toward your educational expenses (budget), as determined by the federal government from the information you provided on your FAFSA. To get a booklet that explains the formula used to determine EFC, call 1-800-4-FED-AID.

Federal Stafford Loan Program: The Federal Stafford Loan program includes the Subsidized and Unsubsidized Federal Stafford programs and the Federal Stafford Parent Loan for Undergraduate Students Loan Program (PLUS). These aid sources are loans and must be repaid.

Financial Aid: All forms of financial assistance available to meet the cost of attendance, including scholarships, grants (gift programs), work programs, and loans (self-help assistance programs).

Gift Aid: Funds that are awarded to students to help with college costs with no obligation for repayment on the part of the student are forms of gift aid. Grants and scholarships are considered to be gift aid. Few financial aid packages are composed entirely of gift aid. Most financial aid packages include some form of self-help assistance.

Grant: Gift aid awarded to a student on the basis of various factors.

Independent Status: For the purposes of federal financial aid, you are considered dependent unless you meet one of the following criteria: 1) you are 24 years of age by January 1st of the award year; 2) you are married; 3) you are a graduate student; 4) you have children who receive more than half of their support from you; 5) you have dependents other than children or spouse who live with you and receive more than half of their support from you; 6) you are an orphan or ward of the court; 7) you are a veteran; 8) you are or were an emancipated minor (see notes on FAFSA); 9) you are or were in legal guardianship (see notes on FAFSA); 10) you are/were unaccompanied youth who was homeless (see notes on FAFSA).

Payment Plan: The option to pay Lourdes University charges for fall and spring semesters in installments. Information about the payment plan can be obtained by contacting the Bursar’s Office at 1-800-878-3210, extension 3695.

Package: The total combination of scholarships, grants, work-study and loans offered to you.

Master Promissory Note (eMPN): The binding legal document you sign to receive a student loan. It lists the terms under which you are borrowing and the repayment terms to which you are agreeing. You should read and keep a copy of this document for your records.

Student Resources: Student resources can include family contributions from the Free Application for Federal Student Aid (FAFSA), outside awards, benefits, fee waivers, employer reimbursement, and other resources.

Verification: The process by which Lourdes University confirms the accuracy of information you reported on your FAFSA. If you are selected for verification (only a percentage of FAFSAs are selected), you and your family will need to supply additional information and copies of documents such as tax returns. Deadlines for submitting all required verification documents are available by contacting the Financial Aid Office.

Federal Direct Stafford Loan Program: Includes the Subsidized and Unsubsidized Federal Direct Stafford programs and the Federal Direct Parent Loan for Undergraduate Students Loan Program (PLUS). These aid sources are loans and must be repaid.

As required by federal, state and institutional guidelines, revision of your financial aid award may occur if:

• You were selected for verification and completion of the verification process changes your eligibility. In verification, the Financial Aid Office must check the accuracy of the data you reported on your FAFSA; (see Verification (link))
• Your aid was based on inaccurate information (e.g., estimated income data or incorrect grade level);
• The Financial Aid Office or another agency made an error in determining your eligibility for, or disbursement of, your financial aid;
• The amount of aid awarded to you exceeds the amount allowable under federal, state and/or institutional guidelines;
• You have not met satisfactory academic progress requirements;
• You have failed to meet enrollment, grade point average, participation, or other conditions required by a specific award;
• You have dropped classes or withdrawn from the University;

It Could Happen! Federal, state and institutional guidelines affecting financial aid programs can change during the academic year.

If your aid has been credited to your bursar account, when required, you will be responsible for partial or full repayment of the funds, regardless of the reason for adjustment.

What if I am receiving other forms of financial assistance, such as outside scholarships, AmeriCorps/VISTA, employer tuition assistance or employer reimbursement?

Students who receive any other forms of financial assistance to help pay for their education expenses must, by law, report these outside funds to Lourdes Financial Aid Office. These could include, but are not limited to, outside (non-Lourdes) scholarships, AmeriCorps/VISTA, employer tuition assistance (i.e., employer reimbursement). These amounts are used to calculate the financial aid package and may replace other self-help aid sources to ensure that a student’s financial aid package does not exceed the Cost of Attendance. Scholarships and grants that are not based on federal or state programs must be included in your financial aid package regardless of the source or method of payment (voucher, direct payment, or applied to your Bursar account).

The financial aid process must be complete before aid can disburse. PLEASE NOTE: Federal Direct Stafford Loans are applied to tuition and fees charges first.

• Only Federal Direct Stafford Loans can be applied to your bursar account charges before the Freeze date of each semester. If you are a federal student loan recipient, your Federal Direct Stafford Loan may be applied to your account (no earlier than) 10 days prior to the start of the semester, and only if your financial aid process is completed in time. If your Federal Direct Stafford Loan is disbursed prior to the start of the semester, and if the disbursed amount (by itself) is greater than your Bursar account charges, you may then receive a refund from the Bursar’s Office in the amount of the credit balance. View your Bursar account at www.lourdes.edu under “Current Student” then “Web for Students” to see if your “manual refund” has been processed. Checks are usually available 3-4 days after your “manual refund” has been processed. 
• All other aid (grants, scholarships, Perkins loans, waivers, etc.) will be applied to your account (if all requirements have been met) after the Freeze date, when your enrollment has been confirmed and all applicable charges, including book vouchers, have been added. Refunds, due to the payment of other aid, are processed by the Bursar if your aid is greater than your Bursar charges. Your refund will not be available until 7-10 business days after the Freeze date. Again you can View your Bursar account at www.lourdes.edu under “Current Student” then “Web for Students” to see if your “manual refund” has been processed. Checks are usually available 3-4 days after your “manual refund” has been processed. 

The Ohio College Opportunity Grant is disbursed after funds are received from the State. This will be after the Freeze date, and it could be after all your other aid has disbursed, depending on when you show up on the state roster.

If you have completed the financial aid process and you are expecting to receive a refund check, you may be eligible to participate in the Bursar’s Book Voucher program. Vouchers are issued by the Bursar Office for up to $500, depending on the actual refund amount the Bursar determines. Book vouchers can be used for anything in the campus bookstore, and must be used on the day of issuance. Bookstore charges will be automatically deducted from your anticipated refund check.

Remember to be considered for a book voucher you must: 

• Have the financial aid process completed at Lourdes. This includes the FAFSA and any documents requested by Lourdes Financial Aid Office (FAO). The FAO notifies students of required documents either by mail, email, or on the portal at “Web for Students.”

• In addition to the above two items, Transfer students must have all aid cancelled at their previous school. Contact the school you attended to ensure this is completed. You cannot receive federal and state aid from more than one school at a time – It’s the Law!

Prior to the Financial Aid Freeze Date, you must be registered and in-attendance for all the courses in the applicable semester that you wish to use financial aid. At the Financial Aid Freeze, aid is reviewed and adjusted, if required, based on enrollment as of the last day to add or drop at 100% refund. On the Freeze Date and beyond, adding a class will not change financial aid. Therefore, for all summer sessions and part of term sessions (e.g. Q session) students must be registered prior to the Financial Aid Freeze Date to be considered for aid for those classes.

Enrollment changes must be completed with your advisor prior to the Freeze Date below for the applicable term:
Summer 2011: May 29, 2011
Fall 2011: September 4, 2011
Spring 2012: January 31, 2012
Summer 2012: May 27, 2012
Fall 2012: September 2, 2012
Spring 2013: January 29, 2013

For courses that do not start until later in the semester (part-of-term), you must be registered for the course(s) if you wish to receive aid for it. If you register for a part-of-term course, receive aid based on that enrollment, and then do not attend, your aid will be adjusted and you may end up owing the University money. If you are not enrolled for a course prior to the freeze date, and later register for a part-of-term course, you will NOT receive financial aid for it.  NOTE: Anytime your aid is changed you will be notified through the Award Letter process.

When you reduce your enrollment to zero credit hours, you have withdrawn from Lourdes University. If you withdraw, federal regulations require the University to determine if any portion of your financial aid, including financial aid funds applied to your account, is refundable and which portion of any refund needs to be returned to the financial aid programs from which you received assistance. Contact your Academic Advisor or the Registrar to Withdraw.

Calculating refunds depends on several factors. To begin, your date of withdrawal must be established. Instructions for completing the withdrawal process can be found in the Lourdes University Catalog and by consulting with your academic advisor. If you complete the official withdrawal process, the refund calculation will be based on the date your withdrawal activity is recorded by the University. If you do not officially withdraw, but it is determined that you stopped participating in all of your classes, the refund calculation will be based on either the date reported by your instructor(s) as your last date of participation, or the last date for which there is evidence that you were still participating in class, e.g., completed an assignment, took an exam, etc. Federal law specifies how Lourdes University must determine the amount of federal program assistance that you earn if you withdraw. When you withdraw during a semester, the law requires the Bursar Office and Financial Aid Office to use the Title IV Return of Funds calculation to determine the amount of aid you have earned up to your withdrawal date.

Lourdes University and the student are both responsible for returning unearned federal financial aid to the appropriate programs. The University must return the lesser of 1) the total amount of unearned aid, or 2) your institutional charges multiplied by the unearned percentage. The student must return any remaining unearned aid not returned by Lourdes University. Any loan funds that you must return will be repaid in accordance with the terms of the promissory note. That is, you make scheduled payments to the holder of the loan over a period of time.

You will be billed for any amount due to Lourdes University resulting from the return of federal aid funds used to cover tuition and fees. Additional information regarding the refund policy and the calculation used to determine the amount of earned and unearned federal aid is available by contacting the Bursar’s Office.

RETURN OF FEDERAL AID - IF YOU WITHDRAW OR JUST STOP ATTENDING
Lourdes University students who receive federal financial aid and do not complete their classes may be responsible to repay a portion of the aid received according to federal law. The Financial Aid Office (FAO) is supplying the following information to help you better understand what could happen if you withdraw or stop attending classes before the end of the enrollment period.

What is the law? As part of the Higher Education Amendments of 1998, Congress passed new regulations governing what must happen to your federal financial aid if you completely withdraw from your courses during the enrollment period. The Lourdes University Bursar’s Office must calculate how much federal financial aid you have earned if you withdraw or stop attending before completing 60% of the enrollment period. Federal financial aid covered under this regulation includes the Federal Pell Grant, Federal SEOG, Federal Direct Stafford Subsidized Loan, Federal Direct Stafford Unsubsidized Loan, Federal Perkins Loan, Federal Direct Parent Loan for Undergraduate Students (PLUS), and TEACH.

Who does this regulation apply to? This regulation applies to students who receive federal financial aid and who withdraw or stop attending classes before completing 60% of the enrollment period.

How the financial aid you earn is calculated? If you receive federal financial aid you must "earn" the aid received by staying enrolled in school. The amount of federal financial aid assistance you earn is determined on a pro-rated basis. If you withdraw or stop attending classes during the enrollment period, you may be required to return some of the financial aid you were awarded. For example, if you complete 30% of the semester, you earn 30% of the aid you originally were scheduled to receive. This means that 70% of your scheduled awards remain unearned and must be returned to the federal government.

If you would like to see the detailed formula that explains the refund calculation, please visit the Bursar’s Office and request a copy of the Return to Title IV Worksheet.

What is the withdrawal date? When you reduce your enrollment to zero credit hours after the Freeze Date, you have withdrawn from Lourdes University. Instructions for completing the withdrawal process can be found on the Academics page of the Lourdes University website or by consulting with your academic advisor or the Registrar. If you complete the official withdrawal process, the refund calculation will be based on the date your withdrawal activity is recorded in the Lourdes University computer system by your academic advisor. If you do not officially withdraw, but it is determined that you stopped participating in all of your classes, the calculation is based on either the date reported by your instructor(s) as your last date of participation or the last date for which the instructor(s) determines that there is evidence that you were still participating in class, e.g., completed an assignment, took an exam, etc.

When should I withdraw? The timing of your decision to withdraw should not be based on the impact to your financial aid. You should contact your Academic Advisor and/or Instructor to discuss the reason(s) for your decision to withdraw as well as the academic consequences of your decision. Any required adjustments to your financial aid will be based on the withdrawal date as described above. The Bursar’s Office cannot perform the withdrawal calculations until your withdrawal date is determined by your academic advisor. There is a deadline each semester by which you must be withdrawn in order to avoid being assigned a grade. Check with your advisor for that date.

Who returns the unearned funds? Lourdes University and the student are both responsible for returning unearned funds to the appropriate programs in specific loan/grant order.  Amounts that must be returned will first be applied to federal loans and then to grants. Loan borrowers will be permitted to repay loans based on the terms of the promissory note.

The student will also be billed for any amount due to Lourdes University resulting from Lourdes University’s return of federal aid funds. For example, if Lourdes University is required to return federal aid which was used to pay a portion of your charges for the enrollment period, you are required to pay Lourdes for the unpaid portion of the charges.

How do I repay unearned funds? If you owe any money to Lourdes University resulting from the return of federal funds, you will receive a bill from the Lourdes University Bursar's Office.

For all outstanding charges owed to Lourdes University, you must make payment arrangements with the Bursar’s Office, (419) 824-3727. Loan repayment arrangements may be made by contacting the Direct Loan Servicing Center at 1-800-848-0979.

What happens if I don't repay? If you do not repay Lourdes University for the charges resulting from the federal refund policy, your records will be placed on financial hold. This means you will not be permitted to register for classes or receive transcripts until the balance is paid. Outstanding balances due to Lourdes University can also result in collection agency action and negative credit bureau reporting.

Does withdrawing affect my ability to receive financial aid in the future? To encourage the completion of degree/certificate programs within a reasonable time frame and to comply with federal requirements, financial aid recipients must maintain satisfactory academic progress as a condition for receiving financial aid. Satisfactory academic progress requires financial aid recipients to do the following:

1. 1. Meet minimum cumulative grade point average of at least a 2.0.
2. 2. Meet a minimum completion rate of credit hours attempted.
3. 3. Complete the degree/certificate program before attempting over 150% of the required credit hours for the program.

Financial aid recipients who do not meet these conditions will lose their financial aid eligibility. Therefore, withdrawing may affect the status of your satisfactory academic progress. Please see Lourdes’ Satisfactory Academic Progress Policy.