What You Should Know - PowerPoint Presentation

What You Should Know About Financial Aid a nd TOPS

More than 70% of first-time freshmen receive TOPS and/or financial aid. Well-intended academic advising can have unintended consequences for a student’s financial aid eligibility and for TOPS eligibility. Students frequently are unaware that there may be a financial aid impact especially since their academic advisor recommended the action. Federal guidelines require financial aid eligibility to be based on many factors that are driven by academic decisions such as changing enrollment status to full or part time, repeating courses, academic standing, dropping classes and resigning.   This training has circumstances that may affect the student’s eligibility to receive TOPS or financial aid.

After Schedule Adjustment   After the schedule adjustment period, students are responsible for tuition and fees for classes in which they registered regardless if they attend the classes. If a student drops a class or resigns after the schedule adjustment period, the full amount of tuition could be owed and the unearned portion of their financial aid may have to be returned. Fall 2015 Academic Calendar:Classes Begin……………………………………………………..August 24 Schedule Adjustment Period…………………………………….August 24-28Last Day to Drop a Class & obtain tuition refund………………August 28 First Day to Drop a Class & Receive a Grade of “W”…………September1 For more information visit: http://registrar.louisiana.edu/registration/adjust-my-schedule

Resigning Students receiving financial aid may have to repay some of those funds if they withdraw from all classes prior to completing at least 60% of the semester. For example, a student who resigns after completing only 30% of the semester will have “earned” only 30% of (Title IV) Financial Aid. The remaining 70% must be returned by the student. For more information visit: http://financialaid.louisiana.edu/content/eligibility-policies/withdrawal-return-funds-policy

Receiving an F or W for a Class Students with financial aid grants who withdraw or receive an F in a class may have to refund money based on the percentage of the enrollment period for which they did not complete. Students who receive financial aid are expected to complete all credits started. Students who do not successfully complete all credits may lose some or all of the funds awarded for the semester and/or future semesters. For more information visit: http://financialaid.louisiana.edu/content/eligibility-policies/withdrawal-return-funds-policy

Satisfactory Academic Progress   Students are required to meet Satisfactory Academic Progress (SAP) requirements in order to continue receiving financial aid. Undergraduate students must meet a minimum 2.0 GPA, successfully complete at least 67% of classes attempted, and complete their degree within 180 hours attempted. Sample Chart to Determine Eligibility: For more information visit: http://studentsuccess.louisiana.edu/content/support/academic-status Degree Program Bachelor’s Second Undergrad degree OR teacher certification Master’s Ph.D’s Credits Required 120 140 36 72 Maximum Credits Allowed 180 210 54 108

Regaining Financial Aid Students may earn financial aid back by paying for at least half-time, earning at least a 2.00 GPA and completing at least 67% of their registered courses. Students who are over their maximum hours cannot regain their eligibility by paying for a semester.

Financial Aid Appeal   If students have extenuating circumstances, they may appeal their financial aid suspension. The appeal should have supporting documentation and an academic plan of action that ensures they will be able to meet SAP standards. All registered courses must be required to graduate. Examples of extenuating circumstances: Circumstance Required Documentation Death of immediate family member Death certificate or dated obituary from newspaper Injury or illness of student Signed & dated letter from physician on office letterhead verifying medical problem & treatment received; legible copy of accident Military orders or Official military documents with dates other special circumstances For more information visit: http://studentsuccess.louisiana.edu/content/support/academic-status

TOPS Requirements   Students must be enrolled full-time through the 15th day of classes. In the fall semester students must earn at least a 2.0 GPA in order to receive TOPS in the spring semester. At the end of the spring semester, a student must earn at least a 2.3 GPA the first year and at least a 2.5 GPA every other year. Students must earn 24 credit hours each academic year. Award Retention:Be enrolled full-time on the 15 th day of classesEarn 24 credit hours each year Continuous enrollment2.0 cumulative GPA at the end of Fall, Intersession's, and Summer Term The following minimum GPA’s will be checked at the end of each Spring semesterFirst year – 2.3 GPA Every other year – 2.5 GPA For more information visit: http://studentsuccess.louisiana.edu/content/support/tops

TOPS Definition of Academic Year   The TOPS academic year begins with the fall semester and includes winter intersession, spring semester, spring intersession, and ends after the summer term. GPA must be maintained:Opportunity Award 2.3 First Year 2.5 All subsequent YearsPerformance Award 3.0 Honors Award 3.0 For more information visit: http://financialaid.louisiana.edu/content/types-aid/scholarships/louisiana

TOPS Requires Continuous Enrollment   Students receiving TOPS must be enrolled each fall and spring semester or they will lose TOPS. If the student is not enrolled due to extenuating circumstances, they may submit a request for an exception to the continuous enrollment requirement. Tops can only be used within one year of High School GraduationRemaining semesters of TOPS eligibility can be used for Graduate School if used within one year See the official TOPS website for more information: http://www.osfa.state.la.us/

Financial Aid Counselors   Financial aid counselors in the Office of Student Financial Aid in Foster Hall can assist students with financial aid questions and special circumstances. When Should a Student Contact Financial Aid?Before they:Stop attending a class Plan to drop a classResign from the University Grade changesIf the student has questions about the process or requirements

Thank you! A short 10 question test can be found on the next page.

To receive Advisor Training credit for the Advisor Awards, please answer the ten questions below. After completion, send a copy of the questions and answers with your name, department, email and CLID through University Mail, ATTN: Pennie Babin, Academic Success Center. Once received, an email confirmation will be sent to the email you provided. Test QuestionsWhen is the Schedule Adjustment Period?What is the difference between withdrawing from a course and resigning from the University? What are the consequences if a student fails to attend class? What grades are not considered adequate grades for completing the course requirement?         

5. What are the three requirements for Satisfactory Academic Progress?   Students are expected to complete their degree within a maximum number of hours. Do transfer credits count? Do hours earned prior to academic amnesty count?If a student is placed on financial aid suspension, what are their two options?How could a student lose TOPS? What happens if a TOPS student sits out for a semester? If a student’s TOPS award was suspended for not meeting the GPA requirement, how may their TOPS be reinstated?