Keeping your financial aid
Keeping your aid
Maintaining your financial aid at ÷ÈÓ°Ö±²¥ requires adherence to specific academic and administrative standards. Here's a comprehensive guide to help you navigate these requirements:
U of I Satisfactory Academic Progress (SAP)
Students at ÷ÈÓ°Ö±²¥ are required to make Satisfactory Academic Progress (SAP) to be eligible for federal financial aid. At the end of each academic year, a student's ÷ÈÓ°Ö±²¥ Grade Point Average (GPA), completion rate of all attempted classes (Pace) and maximum number of attempted credits are evaluated to determine if satisfactory progress towards a degree has been made. The complete SAP policy is ÷ÈÓ°Ö±²¥.
The university's Satisfactory Academic Progress criteria involves:
- Grade Point Average (GPA): As specified by university policy, undergraduate students must maintain a minimum cumulative GPA of 2.00. Graduate students are required to uphold a minimum cumulative GPA of 3.00.
- Completion Rate (Pace): You need to successfully complete at least 67% of all attempted credits.
- Maximum Time Frame: Your total attempted credits should not exceed 150% of the credits required for your degree program.
- SAP evaluations occur annually at the end of each spring semester. Failure to meet these standards results in the suspension of federal financial aid eligibility.
If a student has not made Satisfactory Academic Progress, a letter from the financial aid office will explain the reasoning for the suspension of financial aid and how a student may regain eligibility. A student may complete a petition for financial aid reinstatement to regain eligibility for financial aid.
Approval of a petition may lead to the reinstatement of your financial aid.
Impact of withdrawal on financial aid
Withdrawing from courses can affect your financial aid status:
- Tuition and fee refunds: Refunds are calculated based on the official date of withdrawal and the university's refund schedule.
- Return of Title IV funds: If you withdraw before completing 60% of the semester, a portion of your federal aid may need to be returned, potentially leaving you with a balance owed to the university.
- SAP evaluation: Withdrawals can negatively impact your completion rate, affecting your SAP status and future aid eligibility.
Hardship withdrawals
In cases of significant personal or medical issues, you may request a hardship withdrawal:
- Financial credit: Approved hardship withdrawals may qualify you for a financial credit of tuition and fees, based on the university's policy.
- Financial aid implications: It's crucial to consult with the Financial Aid and Scholarships Office before proceeding, as hardship withdrawals can affect your current and future financial aid eligibility.
Learn more about the hardship withdrawal process
Maintaining eligibility
To ensure continuous financial aid eligibility:
- Monitor academic performance: Regularly review your academic progress to ensure compliance with SAP standards.
- Seek academic support: Utilize university resources like tutoring and academic advising to maintain satisfactory progress.
- Stay informed: Keep abreast of university policies and deadlines related to financial aid.
By understanding and adhering to these guidelines, you can effectively manage and retain your financial aid throughout your academic journey at ÷ÈÓ°Ö±²¥.