Financial Aid Policies and Procedures
Purpose of Financial Aid
The primary purpose of the Office of Financial Aid Planning is to provide financial assistance within its available resources to those students who, without such assistance, would be unable to attend Anderson University. Financial aid plays an important role for students and families in financing an education. The application and follow-up procedures are many and often create stress and confusion for students and families. We hope that this handbook will clarify the follow-up procedures necessary to complete the financial aid process.
FAFSA (Free Application for Student Aid)
Anderson University strongly recommends all students who receive state and institutional aid complete the Free Application for Federal Student Aid (FAFSA). Some institutional awards do require the FAFSA application to be completed. Please refer to the Academic Catalog or the Financial Planning Guide for more details on scholarships and requirements. Anderson University’s school code is 003418.
Types of Financial Aid
Federal Stafford Loan
Effective July 1, 2012, the federal government eliminated subsidized Stafford loans for graduate students. Unsubsidized loans accrue interest from the point of disbursement. We encourage our students to pay the interest while they are in school. There are no penalties for payments on your loan early. Repayment and interest begin six months after the student ceases to be enrolled at the required enrollment status.
SC Teachers Loan Program (Education programs only)
The SC Teachers Loan may be forgiven if the applicant teaches in a South Carolina public school in a critical subject or critical geographic area. To begin the process, simply download the application at www.scstudentloan.org. The priority filing deadline is April 15. The loan is forgiven at the rate of 20% or $3,000, whichever is greater, for each full year of teaching in South Carolina public school in a critical subject or critical geographic area. Contact the Financial Aid Planning Office for more details.
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 the 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 Anderson University’s Office of Student Financial Services 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.
Graduate Program Enrollment Definitions for Financial Aid Eligibility
Graduate student financial aid eligibility and the amount of potential aid for graduate programs are determined by a graduate student’s enrollment status. The table below provides a definition of full-time and half-time enrollment by graduate programs.
| Graduate Program |
Full-time Enrollment |
Half-time Enrollment |
| Master of Business Administration (MBA) |
6 |
3 |
| Master of Criminal Justice (MCJ) |
6 |
3 |
| Master of Divinity (M.Div) |
6 |
3 |
| Master of Arts in Teaching (MAT) |
6 |
3 |
| Master of Education (M.Ed.) |
6 |
3 |
| Master of Education in Administration and Supervision (M.Ed.AS.) |
6 |
3 |
| Master of Ministry (M.Min) |
6 |
3 |
| Master of Music Education (M.M.M.Ed.) |
6 |
3 |
| Master of Science in Nursing (MSN) |
6 |
3 |
| Doctor of Ministry (D.Min) |
6 |
3 |
| Doctor of Nursing Practice (DNP) |
6 |
3 |
Satisfactory Academic Progress for Graduate Programs and Financial Aid
The Office of Financial Aid Planning is required by federal and state regulations to monitor the academic progress of all financial aid recipients. Financial aid applications must comply with the Satisfactory Academic Progress (SAP) policy as a condition of continued eligibility. Academic progress of all financial aid recipients is required to be tracked from the first date of enrollment, whether or not financial aid was received.
The Office of Financial Aid evaluates student academic progress annually at the end of the spring semester. Students are evaluated on the basis of grade point average, successful completion of a required percentage of attempted credits, and obtaining a degree within the allotted maximum time frame. Financial Aid recipients are required to be in good standing and to maintain satisfactory academic progress toward their degree/certificate requirements for each semester in which they are enrolled.
Failure to maintain satisfactory academic progress may result in the cancellation of financial aid award, which include: Federal Perkins Loan Program, Federal Work Study, William D. Ford Federal Direct Loan Programs (Unsubsidized), the Federal TEACH Grant, and all other programs, which require the monitoring of academic progress.
Minimum Standards for Graduate Students
Academic requirements for graduate students are defined by each academic program as outlined in this catalog and include:
- Student must maintain a minimum cumulative grade point average as established by your area of study.
- Student must maintain a minimum completion rate of two thirds of credit attempted (67%).
- Student must complete their educational program within a time frame no longer than 150% of the published length of the educational program. The published length for a student to obtain his/her degree varies. Please refer to the Anderson University Academic Catalog to determine published length of the degree you are pursuing. Students who do not meet one of the above criteria will be ineligible for financial aid and will be placed on “Financial Aid Suspension” until they are again in good standing or have successfully appealed the suspension in writing to the Office of Financial Aid Planning.
Financial Aid Suspension
Students who fail to maintain a cumulative grade point average as established by your area of study or fail to maintain the minimum completion rate will be placed on “Financial Aid Suspension” for the following semesters of enrollment, and no financial aid will be awarded and or disbursed during subsequent semesters until the student has regained eligibility or reinstatement has occurred due to an appeal being granted.
Students who do not earn their degree within the maximum timeframe will be placed on “Financial Aid Suspension.” No aid will be awarded and or disbursed during subsequent semester unless the student has made an appeal and the appeal has been granted.
Reinstatement of Aid
Reinstatement of financial aid after being placed on “Financial Aid Suspension” is achieved
in the one of the follow ways:
- Student submits a written letter of appeal with supporting documentation, and Financial Aid Appeals committee grants the appeal. The student is placed on financial aid probation for the next semester of enrollment or placed on an academic plan established by your Dean and included in supporting documentation to the Office of Financial Aid Planning. At the end of the probation semester, Satisfactory Academic Progress (SAP) will be reevaluated. The student must meet all Satisfactory Academic Progress (SAP) requirements or requirements of their academic plan outlined in their probation at the end of the semester, or they will be placed on Financial Aid Suspension and must reestablish eligibility as described in item 2.
- The student pays for all obligations, (tuition and fees), without financial aid assistance and reestablish eligibility by meeting the SAP requirements.
Appeal Process
- Students wishing to appeal their suspension must submit a written appeal with supporting documentation that led to not meeting the SAP requirements. This appeal must include a plan for meeting SAP at the end of the next enrollment period or future period if outlined in an academic plan. Circumstances may include death of a family member, unexpected injury or illness of the student or other circumstances with supporting documentation.
- Appeals must be submitted by the deadline established by the program.
- Student will be limited to two appeals during their graduate career.
- Appeals submitted without supporting documentation will not be reviewed.
- The Financial Aid Appeals committee will review the appeal request and respond in writing to the student regarding the decision and will notify the Dean of that area as well as to the results of the appeal. If any terms of the plan are not met, the student shall be placed on Financial Aid Suspension beginning with the next enrollment period.
- Appeals that are granted will result in a “Probation” status, allowing the student to receive aid for the subsequent semester. Students placed on probation will be reevaluated at the end of that payment period.
All decisions of the Financial Aid Committee Are Final
Policy for Students Receiving Veterans Administration Benefits
Students who receive VA benefits are subject to special governmental rules with regard to academic probation and course withdrawal. Recipients of VA benefits may not be certified for such benefits for more than one semester of academic probation. In some instances, the student may be eligible to continue as a student of the University without the VA benefits. Recipients of VA benefits who withdraw from a course after mid-semester will receive a grade of “F” for the course unless the withdrawal was due to extenuating circumstances. The VA Benefits Program is administered through the Office of Financial Aid Planning.
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