Financial Aid

The Anderson University Office of Financial Services exists to inform and assist students and parents in finding financial assistance and to enable students to attend Anderson University. Services offered include informing, counseling and assisting students in a timely and equitable manner. All functions of the Office of Financial Services are geared to enhance the overall learning and spiritual objectives of Anderson University. Email communication to the student’s AU assigned email address is the official form of communication from the Office of Financial Services about awards, adjustments, notifications, and deadlines.

The Office of Financial Services awards financial aid to qualified applicants without regard to race, religious creed, national origin, sex, age, disability or ethnicity.

When and How to Apply

To determine whether a student is eligible for a federal financial aid program, the student must complete the Free Application for Federal Student Aid (FAFSA). The address for FAFSA on the Web is https://fafsa.gov. The student should apply for a FSA ID prior to starting FAFSA on the Web so that the application can be signed electronically and tax information can be transferred from the IRS. Anderson University’s (S.C.) Title IV school code is 003418.

How Does the Process Work

Complete the FAFSA and include Anderson University’s (S.C.) Title IV school code, 003418. Simplify the process by using the IRS Data Retrieval Tool (IRS DRT) when tax return data is requested. The IRS DRT saves you time and expedites the application process. After submitting the FAFSA, the student will receive a Student Aid Report (SAR), and Anderson University will receive the application data electronically. If additional information is needed to complete a student’s file, he or she will receive a letter. Items needed may also be viewed through Self Service under Financial Aid and then Documents. Submit the requested information as soon as possible and make sure all documents are signed. Forms are available at http://www.andersonuniversity.edu/freshmen/financial-aid/documents. Once the student’s file is complete, he or she will receive an award notice. The student may also view all financial aid awards through Self Service.

Communication with Students

The majority of communications from the Office of Financial Services will be sent to the student’s AU email account. To ensure you receive all communication from the Office of Financial Services, please remember to let us know of any mailing address or email address change. The Office of Financial Services staff is here to assist you with any questions you may have. You may call us at 864.231.2070 or email finaid@andersonuniversity.edu. Please allow one business day for a response.

Student Eligibility Requirements

A student must meet the following eligibility requirements to receive federal assistance:

• Be enrolled or accepted for enrollment in an eligible program, and
• Be a regular student, and
• Have a high school diploma or GED, and
• Be a U.S. citizen or an eligible non-citizen, and
• Not be a member of a religious community that directs the program of student or provides maintenance (except for unsubsidized Direct Loans), and
• Be registered with the Selective Service (males only), and
• Not be in default on a federal student loan borrowed for attendance at any institution, and
• Not have borrowed in excess of federal loan limits, and
• Not owe a repayment on a federal grant or scholarship received for attendance at any institution, and
• Maintain satisfactory academic progress, and
• Not be enrolled concurrently in an elementary or secondary school, and
• Provide a valid social security number.

Eligible Courses, Enrollment Status and Repeated Courses

Enrollment status can only consist of those courses required for graduation or as a prerequisite for courses required in the program. Audited classes will not be considered in determining a student’s enrollment status. For federal aid programs only, once a student has completed a course two times, that course cannot count in the enrollment status.

The amount in the original award notification is based on full-time enrollment. All the terms in a semester are combined to determine the enrollment status for that semester. Full-time status consists of enrollment in a minimum of 6 credit hours. Half-time status consists of enrollment in 3 to 5 credit hours.

How a Student Receives Assistance

A student who applies in time and is eligible can use financial aid award(s) (excluding Federal Work Study, FWS) to pay tuition and fees and to make book purchases. Funds available after direct costs have been paid will be disbursed by the Business Office. All financial aid awards are considered estimated or anticipated until aid disburses to student accounts in the Anderson University Business Office. Students who receive a Federal Work-Study (FWS) award and obtain employment through this program are paid once a month.

Summer Aid

Financial aid for summer is available to those students who qualify and will be awarded separately from the fall and spring semesters. Students do not have to complete another FAFSA just for summer if they have already applied for the previous award year. If a student begins classes during a summer semester, he or she must complete the FAFSA for the current award year and complete the FAFSA for the next award year which begins with the fall semester. To be considered for aid during a summer semester, the student must complete a Summer Application for Financial Aid.

Summer funding is limited and not all funds are available during the summer. If during the previous fall and spring semesters the student borrowed the annual loan limit, he or she will not have any Direct Loan eligibility.

Satisfactory Academic Progress (SAP)

Students receiving financial assistance through a federal program must be making satisfactory academic progress toward a degree. The Office of Financial Services must monitor the progress of all students to ensure that they are making satisfactory progress toward completion of their program in a reasonable period of time. This policy is in addition to the academic standards required by the University. The cumulative review determines the student’s eligibility for financial assistance based on his or her academic history. Whether the student has received financial assistance previously is not a factor in determining eligibility. A student’s SAP status will be evaluated each year when the initial Free Application for Federal Student Aid (FAFSA) is received and then at the end of an academic year (after spring semester grades are posted) in which the student attended.

Qualitative Standard (Completion Rate and Grade Point Average)

• The minimum completion rate requires a student to earn at least 67% of the cumulative credit hours attempted.
• Courses with grades of F, W, WP, WF and I are not considered completed courses.
• Graduate students are required to maintain a minimum cumulative grade point average (GPA) that is required for graduation for the student’s program/discipline.
• A student may repeat a course, but all attempts count in the completion rate calculation. Repeat coursework will be calculated in the GPA based on AU academic policy.
• Students are placed on financial aid suspension if the completion rate and/or the cumulative GPA fall below the minimum requirements. To re-establish eligibility, a student must have an approved appeal and be placed on financial aid appeal probation. (See Appeals below.)

Quantitative Standard (Length of Eligibility)

• Students may receive financial aid for 150% of the published length of the program of study.
• Transfer hours are added to the total hours attempted at Anderson University to assess the length of eligibility.
• A student may repeat a course, but repetitions will count toward the length of eligibility.
• A student who completes the academic requirements for a program but does not yet have the degree is not eligible for additional financial aid funds for that program.
• Once the maximum number of hours is attempted, a student is placed on financial aid suspension.
• To re-establish eligibility, a student must have an approved appeal and be placed on financial aid appeal probation. (See Appeals below.)

Appeals

• Appeals for suspension of financial aid are reviewed by the Financial Aid Appeals Committee.
• The number of appeals will be limited to two (2) per student and forms may be obtained from the Office of Financial Services.
• All appeals must include an explanation from the student of why satisfactory progress was not made and what has changed that will make it possible to meet standards. Examples of acceptable extenuating circumstances include prolonged hospitalization during the academic year, death in the family during the academic year, change in work hours that conflicted with the class schedule during the academic year or other extenuating circumstances directly affecting academic performance. Documentation of extenuating circumstances is required, and the student’s appeal will not be considered without sufficient documentation.
• Appeals for length of eligibility (attempted maximum number of credit hours) must also include an academic plan signed by the academic advisor that details the requirements the student must meet to ensure SAP standards are met by a specific time or to ensure the student graduates. Appeals for length of eligibility should include the remaining classes needed to graduate and an anticipated graduation date. The academic plan is available through Self Service.
• If the Committee determines that justifiable evidence of extenuating circumstances exists, a student may receive an extension of financial aid eligibility and be placed on financial aid appeal probation.

Financial Aid Appeal Probation

• During the probationary period, a student must complete 100% of the attempted hours, earn the minimum GPA required for graduation for the student’s program/discipline, and meet all stipulations set by the Financial Aid Appeals Committee. If a student does not meet these stipulations, he or she will be placed on financial aid suspension. (See Suspension for Failing to Meet Probationary Stipulations below.)
• If a student meets the probationary stipulations but has a minimum cumulative GPA or a completion rate that does not meet minimum requirements, he or she will remain on financial aid appeal probation and must continue to meet probationary stipulations.
• If a student meets the probationary stipulations, has a minimum cumulative GPA  and a completion rate that meets minimum requirements and has not attempted 150% of the hours required to graduate, he or she will be removed from financial aid appeal probation and must continue to meet the SAP policy.

Suspension for Failing to Meet Probationary Stipulations

• To reestablish eligibility a student must submit and have an approved appeal after completing a semester at Anderson University without financial assistance. During the semester attended without financial assistance, an undergraduate student must take at least 6 credit hours, complete 100% of the attempted hours and have at least a 2.0 semester GPA.  A graduate student must complete 100% of the attempted hours and earn the minimum GPA required for graduation for the student’s program/discipline.
• Exceptions to this policy will only be allowed if the student encountered some type of extenuating circumstance during the probationary period that hindered him or her from meeting the stipulations. Documentation of extenuating circumstances is required, and the student’s appeal will not be considered without sufficient documentation.
• Examples of acceptable extenuating circumstances include:  prolonged hospitalization during the probationary period, death in the family during the probationary period, change in work hours that conflicted with the class schedule during the probationary period or other extenuating circumstances directly affecting academic performance.  Because a student is aware prior to the probationary period that he or she must meet the stipulations, extenuating circumstances do not include being a single parent or working full-time while attending school.
• Students are advised to solve difficulties prior to registering for a probationary period.

Sources of Financial Aid

Funding for programs is contingent on federal approval. These guidelines may not be inclusive of all eligibility criteria and are subject to change. To apply you must complete the Free Application for Federal Student Aid.

Federal Direct Loans

The Federal Direct Loan is a low interest loan made by the U.S. Department of Education. To determine eligibility, a student must complete a FAFSA and the University’s financial aid process.

An Unsubsidized Direct Loan is not awarded on the basis of financial need. The student will be charged interest from the time the loan is disbursed until it is paid in full. If interest is allowed to accumulate, it will be capitalized which means the interest will be added to the principal amount. Then interest will be charged based on this higher amount. Capitalization will increase the amount that must be repaid. If the student chooses to pay the interest as it accumulates, loan payments will cost less.

A student must be enrolled in at least 3 credit hours each semester. Repayment begins six months after graduating or dropping below half-time enrollment. This six month period is referred to as a grace period.

Before a loan is available, the student must complete an online entrance loan counseling session and sign a Master Promissory Note (MPN). These requirements are completed online at https://studentloans.gov using the student’s FSA User ID.

Teacher Education Assistance for College and Higher Education Grant Program (TEACH)

The TEACH Grant Program provides grants to students who intend to teach full-time in high-need subject areas at a public elementary or secondary school that serves students from low-income families. In exchange for receiving a TEACH Grant, the student must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low income students. The student must also teach at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. If the student fails to fulfill this obligation, all amounts of the TEACH Grant received will be converted to a Federal Direct Unsubsidized Loan. Interest will be charged from the date the original grant was disbursed, and the student must repay this loan to the U.S. Department of Education. Federal TEACH Grant counseling and an Agreement to Serve are required.

S.C. Teachers Loan Program (SCTL)

This loan is available to South Carolina residents who plan to teach in the public sector in South Carolina upon graduation from a college or university. Students must meet the academic criteria of the program, and financial need is not a factor. For additional information visit www.scstudentloan.org.

Withdrawal, Charges, Refund and Return to Title IV Policies

Determining the official/unofficial withdrawal date for all students:

An official withdrawal date is defined as the date the student begins the withdrawal process as defined by Anderson University. To officially withdraw from the University the following must occur:

1. Begin the process in the Center for Student Success (traditional students) or with a Journey Coach (non-traditional and graduate students) or in the Registrar’s Office. The official withdrawal date is defined as the date the student initiates the withdrawal process in one of these offices, and
2. Review financial obligations with AU Central.

An unofficial withdrawal occurs if a student fails to complete a period of enrollment but does not officially withdraw from Anderson University. The last date of class attendance in all classes becomes the applicable withdrawal date as determined by attendance records, computer assisted instruction, academic counseling, turning in a class assignment, or attending a study group assigned by the instructors. Faculty members will report the last date of attendance to the Registrar and the Office of Financial Services when the student is determined to be no longer enrolled. A grade of WF or WP will be assigned.

Refunds

Withdrawal from the University before the End of Drop/Add: Students who officially withdraw before the end of drop/add for the semester will receive a 100% refund.

Withdrawal from the University after the End of Drop/Add: Students who officially withdraw after the end of drop/add for the semester will receive no refund.

Return to Title IV Policy

A student’s federal financial aid eligibility must be recalculated for students who withdraw, abandon, drop out, are dismissed or take a leave of absence prior to completing 60% of a term. Federal financial aid includes Federal Direct Loans and TEACH Grant.  Institutional costs include tuition, eligible fees, and on-campus boarding/meals.

The recalculation of eligibility is based on the percent of earned aid using the following formula:

Percent of aid earned =          number of calendar days completed in the semester
                                               total number of calendar days in the semester

Federal financial aid must be returned to the federal government based on the percent of    unearned aid using the following formula:

Aid to be returned = (100% - percent of aid earned) x the amount of federal financial aid disbursed.

The amount of aid to be returned is the responsibility of the University and the student.  However, the student will be responsible for repaying the University for the amount that the University was required to return on his or her behalf less any refund that the student is eligible for as outlined above.  Therefore, a student who does not complete at least 60% of a term will owe a repayment to the University and/or the federal government for the amount of unearned federal financial aid.

A student who owes the University may not be permitted to register for a subsequent term or obtain an official academic transcript until the debt is paid.  Payment is made at AU Central.  A student who owes the federal government may be turned over to the U.S. Department of Education and be required to provide documentation of a satisfactory payment arrangement before federal or state financial aid eligibility is restored.

Company Reimbursement

Students who are eligible for company reimbursement through their employer have the opportunity to participate in the Company Reimbursement program at Anderson University. Tuition that is 100% covered by reimbursement will be deferred until 30 days after grades are issued for a class. If the company reimburses less than 100% of the total tuition or makes payment directly to the employee/student, the student must pay or take a student loan to cover the balance owed by the first day of class. It is the student’s responsibility to review and understand their company policy regarding company reimbursement. Invoices provided to students by AU Central will reflect grants and/or scholarships and loans received. It is the student’s responsibility to submit invoices to their employer. Participation in this program is voluntary, and the terms and conditions of this agreement are not contingent upon the grade received by the student. The agreement is based on the company making payment directly to Anderson University.