FINANCIAL AID NEWSFLASH
Fall 2013 Refund Schedule
General Refunds - September 30th; First Time Loan Borrowers - October 8th; and 2nd Disbursements (Fall Only Awards) - October 15th.
Note: If you have classes with a start date of October 14th, you must have at least 6 hours of classes with a start date of August 26th to receive a refund on September 30th; otherwise your refund schedule date is October 25th.
Enclosed information provide details on How to apply for Parent PLUS Loan, Viewing/Accepting Financial Aid, and Completing the Registration Process.
Effective July 1, 2012
Exit Loan Counseling
All graduating students, Exit Counseling must be completed online before the clearance form is signed. Click on the link (Exit Loan Counseling Update) for additional information.
DEPENDENT STUDENTS OF FULL-TIME FACULTY AND STAFF TUITION WAIVERS (GPA no longer a requirement)
EFFECTIVE SPRING 2012
Tuition Waiver Forms are available for download at http://www.alcorn.edu/offices/FinancialAid/info.aspx?id=421.
801.15 DEPENDENT TUITION WAIVERS
B. Dependent Tuition Waivers - The Dependent Tuition Waiver employee benefit for the state institutions applies to all dependent children (as defined in Internal Revenue Code §152(c)(3)) of full-time faculty and staff of the universities and full-time employees of the Executive Office. In order to receive an undergraduate tuition waiver for 50 percent (50%) of the total tuition, the dependent must gain admission to the university where the parent or legal guardian is employed, or in the case of dependent children of the IHL Executive Office, at any of the eight state universities, and make a formal written request to the Office of Financial Aid of the respective institution. In cases wherein both parents or legal guardians are eligible employees, a tuition waiver of one hundred percent (100%) shall be provided to the dependent children. Dependent children of continuing employees hired prior to July 1, 1977, are eligible for full waiver of undergraduate tuition at the appropriate institutions because of the grandfather clause included in the April 28, 1977, minutes of the Board.
IHL Board of Trustees Policies & Bylaws 139
1. Continued Eligibility - A single, dependent child may receive an undergraduate tuition benefit (consistent with the continued employment of the parent or guardian) which may be continued until the degree requirements for one baccalaureate degree are met or until age 25, whichever comes first.
2. Dependent tuition shall be accounted for and reported at the face value of the tuition being waived in the appropriate functional category.
Revised: January 11, 2012
Repeat Course Policy for Financial Aid
A recent federal regulation change regarding repeated coursework may impact your financial aid eligibility and awards. Effective for the fall 2011 semester, in order for a repeated course to be counted towards your enrollment status for financial aid purposes, you may only repeat a previously passed course once (a total of two attempts). If you enroll in a previously repeated and passed course for a third time, this course will not count towards your enrollment for financial aid purposes. For example, if you are enrolled in a total of 12 credit hours and 3 credits you have repeated in the past, you will only be considered enrolled in 9 hours for financial aid purposes. A passing grade is defined as “D” or better. Please note that the repeat course policy for financial aid is separate from institutional academic polices regarding repeat courses.
The policy allows a student to receive financial aid under the following situations:
Please Note: Repeating a previously passed course two or more times may result in an adjustment to financial aid eligibility. Any adjustments will typically occur after the start of the semester during which the student is repeating the course, so students are responsible for monitoring their own enrollment in repeated coursework.
Satisfactory Academic Progress (SAP) Changes Effective FALL 2012
Alcorn State University’s Standards for Satisfactory Academic Progress (SAP) was modified for the 2011-2012 Academic Year due to recent changes in federal regulations. The new policy for SAP standards will be effective with the Fall 2011 semester.
Note: To be informed of additional SAP policy updates, please click on the Satifactory Acacdemic Progress (SAP) link to the right of this page.
Year Round Federal Pell Grant 2010-2011
In accordance with the Higher Education Opportunity Act (HEOA) of 2008, some changes were made to the awarding of Pell Grants. HEOA allows students to receive more than 100% of their Pell Grant Eligibility, providing the student meets certain conditions. To be eligible for Pell for summer 2011, the conditions that students must meet are defined as followed:
Students can receive Pell Awards from their second scheduled awards after they have exhausted funds from their first scheduled awards.
Enrolled year round for the academic year, which begins with fall and ends with summer.
Must have completed enough fall and spring hours and be enrolled in sufficient hours for summer to be considered for making academic progression at an accelerated rate, which is 25 or more credit hours for the academic year.
Must be enrolled at least half time (6 credit hours) to receive a Pell Award from their second scheduled award.
Summer Pell Awards will be awarded based on the EFC calculation from the 2010-2011 Free Application for Federal Student Aid (FAFSA).
In addition to the above requirements, the HEOA also included a provision for crossover periods in which the aid application yields to the most beneficial Pell grant between the current aid year and prior aid year. At Alcorn State University, the cross-over period is 2011-2012 however, Alcorn will not assign students a crossover payment period for purpose of the Federal Pell Grant for Summer 2011.