Financial Aid and HEERF Info
Students desiring scholarships or state and federal financial aid should complete a FAFSA form (https://studentaid.gov/h/apply-for-aid/fafsa) and then obtain financial aid advising from the Financial Aid office.
Students intending to enter Reformed University should carefully consider financial planning. All student bills are due and payable each semester at the time a student registers for courses.
If tuition and / or fees are to be paid to the University on behalf of the student by a third-party, the student is responsible to confirm that the third-party full payment when payment is due. Failure to complete on-time payment by the third-party does not relieve the student of responsibility for payment of such fees.
SATISFACTORY ACADEMIC PROGRESS (SAP) POLICY
Reformed University (RU) evaluates students for compliance with the Satisfactory Academic Progress (SAP) policy for financial aid eligibility at the end of each academic year. Those students who do not meet the SAP standard will be placed on Financial Aid Suspension and will no longer be eligible to receive financial aid. Students who lose their financial aid eligibility may submit an appeal to the Office of Financial Aid (OFA) for reinstatement of financial aid.
The appeals process allows students enrolled in an undergraduate or graduate degree program and have lost financial aid eligibility due to unsatisfactory academic progress toward graduation to petition for reinstatement of their financial aid. Federal and state regulations require students to comply with standards of academic progress as defined by the OFA.
Withdrawal, Refund & Repayment Policies
If you withdraw, drop out, are dismissed or take a leave of absence from Reformed University prior to completing 60 percent of a payment period or term, the Office of Financial Aid recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
Percentage of payment period or term completed equals the number of days completed up to the withdrawal date divided by the total days in the payment period or term. Any break of five days or more is not counted as part of the days in the term. This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: Aid to be returned equals (100 percent of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.
If you earned less aid than was disbursed, the University would be required to return a portion of the funds, and you would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, you may owe the University.
If you earned more aid than was disbursed to you, the University would owe you a post-withdrawal disbursement, which must be paid within 120 days of your withdrawal.
Refunds are allocated in the following order:
- Unsubsidized Direct Loans
- Subsidized Direct Loans
- Direct PLUS Loans
- Federal Pell Grants for which a return of funds is required
- Federal Supplemental Opportunity Grants for which a return of funds is required
- Other assistance under this title for which a return of funds is required.
** For detailed Financial Aid information consult the Academic Catalog or contact a Financial Aid advisor in the Financial Aid Office.
HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF)
**If you have any questions about these reports, please contact firstname.lastname@example.org.
Higher Education Emergency Relief Funds (HEERF II)
The Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) was approved by Congress and includes support for higher education, including emergency grants for students facing expenses due to COVID-19. Reformed University is set to receive approximately $35,225 which is designated for emergency grants that will be awarded directly to students. The remaining funds are designated for use by the institution to cover unexpected expenses.
The U.S. Department of Education recently issued guidance on distribution of these emergency grants to students. They recommended a students’ need, as determined by the completion of a Free Application for Federal Student Aid (FAFSA) be strongly considered when awarding funds. This means that students must have submitted a FAFSA to Reformed University and met all Federal Financial Aid eligibility guidelines required to be Title IV (federal) aid eligible.
To be eligible for HEERF II Emergency Funds, students:
• Must be a degree-seeking undergraduate or graduate student
• Must be enrolled in the Winter 2021 semester in at least 1 credit hour as of April 1, 2021.
• Must have a valid FAFSA on file as of April 1, 2021
• Must be considered an eligible citizen or non-citizen verified through FAFSA completion
• Must have demonstrated need (as determined by the FAFSA)
The University has identified 7 students who meet the above listed criteria and have a 2019-2020 EFC that qualifies them for funding as students who are Title IV aid eligible. Award amounts range between $5,000 and $5,125
Disbursement of Grants
Please note these are automatic grants (no application process necessary) and will be distributed in the same manner as financial aid refunds. These grants do not need to be repaid.
Students will be notified about the award via the Reformed University email.
HEERF II funding must be used for expenses related to the disruption of campus operations due to coronavirus. Eligible expenses include tuition, food, housing, course materials, technology, health care, and/or child care. The grants may not fully cover the expenses a student has incurred due to the disruption.
Paying an existing balance using HEERF II Grants
Students receiving a HEERF II grant may elect to have any award amount first applied to outstanding student account balances. To make this declaration, students must complete the Higher Education Emergency Relief Fund (HEERF) II Authorization form and submit the completed form to the Financial Aid Office.
Students not electing to have HEERF II grants first applied to outstanding student account balances may choose to bypass the student account balance and be disbursed directly.
Reformed University does not (1) condition the receipt of financial aid grants to students on continued or future enrollment in the institution, (2) use the financial aid grants to satisfy a student’s outstanding account balance, unless it has obtained the student’s written (or electronic), affirmative consent, or (3) require such consent as a condition of receipt of or eligibility for the financial aid grant.
*April 10, 2021 Update: HEERF II funds allocated to Reformed University have been distributed and the HEERF II process is now closed.
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