It’s time to award financial aid for the 2016-17 academic year! Awarding for newly admitted students began the first week of March. We want to share with you the new awarding process for currently enrolled students.
On April 13, 2016, we will begin awarding financial aid for fall 2016 and spring 2017 to currently enrolled students. In years past, we have awarded current students after spring grades post. The goal in awarding prior to the posting of spring grades is to inform current students of their financial aid eligibility earlier for planning purposes, and to encourage them to take action on their financial aid award before leaving for the summer.
As always, students must have a complete financial aid file to be awarded financial aid. Students should monitor their AppalNet and appstate.edu email accounts now to ensure that they have submitted all outstanding requirements. Students who have an outstanding requirement have received email communications to the appstate.edu email account and should act now to finalize requirements for 2016-17.
How will current students be awarded before spring grades post?
1. Grade level is an important component in awarding federal loans. Current students will be
awarded financial aid at a grade level equal to their total earned hours plus their enrolled spring 2016 hours. Example: A student has 50 earned hours after fall and is enrolled for 12 hours in the spring semester. This student will be awarded as a junior. After spring grades post, we will check for those who do not complete enough hours to progress to the grade level we projected. Such students will have their financial aid award adjusted and will receive an email notification of the change to their federal loan eligibility.
2. To qualify for financial aid, students must be maintaining satisfactory academic progress (SAP). There are two groups in which students will fall under SAP rules:
a. Students who are not making SAP after the fall 2015 semester will not be awarded financial aid
b. Students who are making SAP after the fall 2015 semester will receive an award for 2016-17 aid for until SAP is re-evaluated after spring grades post and a final determination is made. The evaluation after spring grades may result in a cancellation of the awarded aid for 2016-17. If this occurs, we will communicate with the student via letter to the permanent home address and email to the appstate.edu email account.
Our new policy of earlier awarding of financial aid to currently enrolled students is an effort to help students and families make more informed financial decisions. Please feel free to contact the Financial Aid office at 828.262.2190 with any questions you may have regarding the new awarding process.