Financial Aid Policies

Eligibility for institutional aid may change based on funds received from other sources. Merit and other entitlement resources considered when determining eligibility for intuitional aid. Loans, Florida Prepaid, and distributions from qualified 529 plans are not considered. The sum of all merit, entitlement and AMU institutional aid allocated to a student’s account (including AMU Academic and Athletic Scholarships) must not exceed the cost of tuition, associated fees, room and board (when living in campus housing). Furthermore, no institutional aid can be refunded. The financial aid office will communicate changes to institutional aid awarded to affected students.

Current federal law requires each eligible institution participating in Title IV federal and state financial aid programs to provide consumer product information about student financial assistance and other institutional information.

The Student Has The Right:

• To know all the federal, state, and University student financial assistance programs available, including both need-based and non-need-based programs.
• To know the policies, procedures, forms, deadlines, and eligibility requirements for financial aid, and the criteria for selecting recipients and determining the amount of financial assistance to be awarded to a student.
• To know the policies, procedures, forms, deadlines, and eligibility requirements for a program of study-abroad.
• To know the costs of attending the University, how those costs are determined, and how your student budget is developed.
• To know how to apply for financial aid, what resources were considered in calculating your financial need, how your FAFSA’s Expected Family Contribution was determined and how much of your financial need has been met.
• To know the standards required for maintaining Satisfactory Academic Progress for financial aid eligibility, and how to petition for reinstatement of eligibility for Title IV federal and state financial aid.
• To know how and when disbursement of financial aid is made the University’s refund policy, and any refund due to Title IV federal/state and other student assistance programs.
• To know the institution’s procedures for officially withdrawing from the University.
• To know the terms and conditions of loans, employment, scholarships, grants, or benefit programs you receive.
• To know the policies and procedures to maintain confidentiality of financial aid records. Ave Maria University complies with the Family Educational Rights and Privacy Act of 1974.
• To know who and how to contact the financial aid staff regarding information on financial aid assistance programs.
• To expect fair treatment: Ave Maria University’s Financial Aid Office does not discriminate on bases of race, color, sex, age, national origin, religion, sexual orientation, disability, or veteran status.
• To know the names of the agencies that accredit, approve, or license the University and its programs, and how these documents of accreditation may be reviewed.
• To know the terms and conditions of available loan deferments.
• To know campus security policies and crime statistics.
• To know what facilities and services are available to the university students with disabilities.

It is the Student’s Responsibility:

• To read and consider all information about the University before you enroll.
• To completely accurately and honestly your Free Application for Federal Student Aid ( FAFSA or Renewal FAFSA), and all academic and financial aid eligibility information you submit to the University. Providing false or misleading information is a criminal offense, subjecting individuals to a $10,000 fine, imprisonment, or both.
• To use any federal, state, University, or private scholarship/financial aid received solely for expenses related to attendance at Ave Maria University or an approved study abroad program.
• To comply with aid verification requirements by providing verification or additional information as requested by the Financial Aid Office, and submit FAFSA corrections or new information, as appropriate.
• To read, understand and accept responsibility for all forms or agreements you sign. We recommend you keep copies for your records.
• To report to the Financial Aid Office if you are in default on a student loan or if you owe a refund or repayment on any educational grant received from any school.
• To notify your student loan lender(s) of changes in your name, address, and school status.
• To know and comply with the University policies, practices, and procedures as they relate to financial aid: withdrawal, class attendance, refund/repayment, satisfactory academic progress, debt management, and enrollment status for aid disbursement.
• To keep your address and phone number current with the Registrar Office. The Ave Maria University Student email is the official form of communication used by the Financial Aid Office in terms of Award and documentation requests, Students should keep their email boxes under the maximum size in order to receive Correspondence without interruption.

The U.S. Department of Education expects that Federal aid recipients complete all courses attempted and paid for with Federal aid. Therefore, if students received federal assistance from any federal aid program (Federal Perkins Loan, Federal Direct Stafford Loan, Federal Pell Grant, Federal SEOG, or Federal Parent PLUS Loan) and withdrew from the University during a semester that they began attendance, Ave Maria University (AMU) is required to determine the amount of federal aid that they have earned as of their withdrawal date.

The percentage of the semester completed is determined by dividing the total number of calendar days in the semester into the number of calendar days that the student completed as of the withdrawal date.

If a student notifies the Registrar in writing that they are withdrawing for any reason, AMU will be required to complete a withdrawal calculation and a student’s aid may be adjusted for the semester. The withdrawal date will be the date that official notification was provided to AMU of the student’s intent to withdraw. The percent of federal aid that was earned by the student is equal to the percent of the semester that was completed, as of the withdrawal date, if this date occurs on or before completion of 60% of the semester. If the withdrawal date is after completion of 60% of the semester, the student will have earned 100% of the federal aid and no adjustments will be made to their federal aid for the semester.

If a student stops attending classes and does not notify the Registrar’s Office that they are withdrawing, the student is considered to have unofficially withdrawn. Unofficial withdrawals are recorded when grades have been posted by the Registrar and the student record shows that the student received all (or combination) F, I, and/or W grades for the semester. A return of Title IV withdrawal calculation is performed based on the last known date of attendance provided by the professor. If no clear determination date, the withdrawal date is the midpoint of the payment period. Once the withdrawal calculation is performed, a portion of federal aid may be revoked from the student’s account at AMU and returned to the federal government. This process typically results in the student owing money to the Office of the Bursar. When a withdrawal calculation has been completed and aid has been adjusted, students are notified in writing by the Financial Aid Office. Adjustments may also be made to the student’s state and university awards if required.

AMU will return all unearned aid to the U.S. Department of Education for the student. The unearned aid will be credited to the outstanding balances on federal loans made to the student or on behalf of the student for the semester in which the return was required. The order for the return of aid is as follows: Federal Direct Unsubsidized Stafford Loan, Federal Direct Subsidized Stafford Loan, Federal Direct PLUS (received on behalf of the student), Federal Pell Grant, and Federal SEOG.

Withdrawing will also affect a student’s Satisfactory Academic Progress and may jeopardize future federal financial aid eligibility. To make sure a student understands the possible impact on financial aid, a student should consult with a financial aid counselor prior to withdrawing from the university.

Federal regulations (34 CFR 668.16 and 668.34) require that Ave Maria University establish policies to monitor the academic progress of students. The established standards encourage students to complete courses for which aid is received and to progress at a reasonable rate toward the completion of their degree.

Satisfactory Academic Progress Policy

To monitor this statutory requirement, Ave Maria University (AMU) has developed a policy, which includes three required measures of progress:

• Qualitative Measure of Progress
• Pace of Completion
• Maximum Time Frame

The AMU SAP policy will be applied consistently to all financial aid applicants regardless of whether they had previously receivedfinancial aid. Compliance with policy requirements will be verified at the end of each term of enrollment. Credits evaluated willinclude credits attempted at AMU, transfer credits accepted by AMU, and courses funded through consortium agreements. It is important to understand the measures of the policy and how it relates to your academic records available at AMU.

Qualitative Measure of Progress

All students must maintain a minimum Cumulative Grade Point Average (CGPA), determined by the number of credits attempted. Transfer credits are not included in the CGPA calculation. If a student is able to successfully complete an incomplete (I) coursewithin 30 days, the student may request a re-evaluation of eligibility for the current term enrolled. Student athletes must meet theminimum CGPA appropriate to their classification to be eligible to compete in intercollegiate athletics at Ave Maria University.

Undergraduate Students

• 1-16 Attempted Credits 1.7 CGPA
• 17+ Attempted Credits 2.0 CGPA

Graduate students

• 3.0 CGPA for all coursework attempted

Pace of Completion

At the end of each semester, students must have earned a minimum of 67% of cumulative attempted credits. This completion percentage is applicable to both undergraduate and graduate students. Successful completion of courses is defined as having received a grade of A, B, C, D or P. Unsatisfactory grades are F, WF, W, or I. All courses are included in the calculation. If a student is able to successfully complete an incomplete (I) course within 30 days, the student may request a re-evaluation of eligibility for the current term. Transfer credits are calculated in cumulative pace of completion. Courses audited may not be used to qualify for financial aid and are not counted toward the attempted and earned hours.

Maximum Time Frame

Students in undergraduate programs requiring 128 credit hours for graduation will be eligible for financial aid while they are on paceto complete the program during the first 192 (12 semesters) attempted credit hours as an undergraduate, including any transferred credit hours accepted for credit toward the degree. Graduate students in the Masters of Theology Program will be eligible while are on pace to complete the program during the first 72 attempted credit hours. The doctoral program allows up to 96 attempted credit hours. If a student is enrolling in multiple degrees, the maximum is 150% of the combined credits required to complete the degree(s).This limit will not be extended if the student changes majors. Eligibility for financial aid ends once student’s records indicate they willnot be able to complete the program within this maximum time frame. Only courses required for the student’s chosen program are eligible for Title IV Financial Aid.

Satisfactory Academic Progress (SAP) Statuses

Making Progress: Student is meeting the requirements of all three standards.

Warning: Students not meeting SAP standards for the first term are placed on a financial aid warning status during the next term inwhich they enroll. A Financial Aid Warning notice is sent to each student affected. During this warning period, students are eligible toreceive aid from most federal aid programs for the next period in which they enroll, provided they meet all other eligibility requirements. At the end of the financial aid warning period, students meeting SAP standards will retain full aid eligibility (for most aid programs) inthe upcoming term in which they enroll. Students not meeting SAP standards at this time are placed in suspended status. A notice is sent to affected students via email and mail.

Suspension: Students who fail to meet the requirements of all three standards at the end of the warning term will be placed on suspension and will be ineligible to receive financial aid until they meet the minimum GPA and/or completion rate requirements.

Probation: If a student submits a Petition for Reinstatement based on mitigating circumstances (as explained below), and the petition is approved, the student may be granted one semester on a probationary status in which financial aid will be disbursed to the student. The student’s progress will be reviewed at the end of the term. If the student meets the minimum GPA and completionrate, the student will be eligible to continue receiving federal aid. If the student fails to meet the minimum requirements, they will beineligible to receive federal aid until they meet the minimum GPA and completion rate requirements.

Financial Aid Probation with Academic Plan: If a student submits a Petition for Reinstatement based on mitigating circumstances (as explained below), and it is approved, but thecommittee determines the student will require more than one term to meet the progress standards, the student will be placed onprobation with an academic plan. The student’s progress will be reviewed at the end of each term to determine if the student is meeting the requirements of the academic plan. If the student is meeting the requirement(s) of the academic plan, the student iseligible to receive federal aid until the next review.

Financial Aid Appeals

If the failure to meet the minimum SAP requirements is attributable to extenuating circumstances such as the following, the student may appeal the loss of financial aid eligibility:

• Death/illness of an immediate family member
• Personal injury/illness
• Physical disability Other extraordinary/extenuating circumstances

A written appeal must be provided to the financial aid office. The appeal must include a description and documentation of the circumstances. Please refer to the notice sent to the student regarding loss of aid for more specific information.

Appeals must also address what has changed which will allow the student to meet the SAP requirements for reinstatement of aid at the end of the next semester, and what steps will be taken in the upcoming semester to reestablish financial aid eligibility.

If the appeal is approved, the student’s progress will be reviewed at the end of the term. If the student meets the minimum GPA andcompletion rate, the student will be eligible to continue receiving federal aid. If the student fails to meet the minimum GPA or completionrate, the student will be ineligible to receive federal aid until they meet the minimum GPA and completion rate requirements.

 

The Higher Education Opportunity Act (HEOA) requires educational institutions to develop and comply with a code of conduct that prohibits conflicts of interest for financial aid personnel [HEOA § 487(a)(25)]. Any Ave Maria University financial aid officer or employee who has responsibilities with respect to student educational loans must comply with this code of conduct, based on federal law [HEOA § 487(e)].

Neither Ave Maria University as an institution nor any individual financial aid officer or financial aid employee shall enter into any revenue-sharing arrangement with any lender which makes Title IV loans to students attending the institution.

No financial aid officer or financial aid employee of Ave Maria University who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans.

1. For purposes of this prohibition, the term “gift” means any gratuity, favor, discount, entertainment, hospitality, loan or other item having a monetary value of more than a nominal value.
2. Gifts and favorable terms and benefits do not include: a brochure, workshop or training using standard materials relating to a loan, default aversion, or financial literacy, such as a part of a training session. Entrance and exit counseling as long as the institution’s staff are in control of the counseling and the counseling does not promote the services of a specific lender.

A financial aid office or employee at Ave Maria University who has responsibilities with respect to education loans shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.

Ave Maria University shall not:

1. assign a lender to a first-time borrower through award packaging or any other method; or
2. refuse to certify or delay certification of any loan based on the borrower’s selection of a particular lender or guaranty agency.

Ave Maria University shall not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to students in exchange for the institution providing concessions or promises regarding providing the lender with:

1. a specific number of loans made, insured, or guaranteed under Title IV;
2. a specific loan volume of such loans; or
3. a preferred lender arrangement for such loans.
4. An “opportunity pool loan” is defined as a private education loan made by a lender to a student (or the student’s family) that involves a payment by the institution to the lender for extending credit to the student.

Ave Maria University shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.

Any  financial  aid  office  employee  who  has  any  responsibilities  with  respect  to  edu cation  loans  or  other  student financial aid, and  who  serves  on  an  advisory  board, commission, or  group  established  by  a  lender, guarantor, or group  of  lenders  or  guarantors,  shall  be  prohibited  from  receiving  anything  of  value  from  the  lender,  guarantor,  o r group  of  lenders  or  guarantors,  except  that  the  employee  may  be  reimbursed  for  reasonable  expenses  incurred  in serving  on  such  an  advisory  board,  commission,  or  group.

VERIFICATION

The U.S. Department of Education (DOE) selects certain students for a process called Verification. This is the process in which an institution is required to confirm the accuracy of certain formation entered by the students and their families in the FAFSA application. The institution may also select a student for verification, if there is reason to believe that there is discrepant information or if it would be of benefit to the student. If selected, the verification process must be completed before financial aid can be disbursed.

Submission of the required documents in a timely manner is essential to the readiness of the student’s financial aid package. It is advised that you complete verification upon notification and not later than 2 weeks prior to the start of the term. Students are responsible to satisfy their balance by the first day of the term regardless of the status of the verification process. A student’s bill will not be deferred due to verification.

These Requirements are applicable to all applicants for federal student financial aid under the following programs:

• The Federal PELL Grant Program
• The Federal Direct Loan Program
• Federal Supplemental Educational Opportunity Grants(FSEOG)
• Federal Work Study (FWS)

Forms and Documentation Collection Procedures and Deadlines

Selected students are immediately notified that they have been selected for verification upon submission of their FAFSA in their Student Aid Report (SAR). The required information is also listed in the Financial Aid/Net Partner Portal, where students will be able to electronically submit forms and documents. The documents typically requested are the Verification Worksheet, Tax Return Transcripts and W2’s, but there may be additional documents requested to clarify discrepant information. The verification worksheet may be submitted electronically and additional documents may be uploaded to the Net Partner portal. Documents may also be sent to our general e-mail address; AMUfinancialaid@avemaria.edu or faxed to 239-280-2559.

IRS Data Retrieval Tool

To make the FAFSA application process easier and to simplify verification it is advised for students and/or parents to use the IRS Data Retrieval Tool while completing the FAFSA, rather than entering income information manually. The Data Retrieval Tool allows students and parents to electronically transfer their tax information to their FAFSA directly from the IRS. Students can always log back in to their FAFSA and use the Data Retrieval Tool at a later date if necessary. Choosing to use this feature may reduce the number of required documents. Note, however, some applicants may not be eligible to transfer their information.

Ordering Tax Return Transcripts

If you are unable to use the IRS Data retrieval tool you may have to submit tax return transcripts. To Request a Tax Return Transcript from the IRS go to IRS.gov or click here.

Frequently Asked Questions regarding Verification

What is Verification?

• Verification is a process used to verify certain information on the FAFSA to ensure its accuracy. The U.S. Department of Education or the Office of Financial Aid at Ave Maria University may, at any time, select applications for verification, based upon the FASFA information provided. This process is required to assure that all aid is awarded to students according to federal, state, and institutional regulations. If selected, the verification process must be completed before financial aid can be disbursed.

What documents/forms do I need to submit?

• A list of required items will be listed on the Financial Aid/Net Partner Portal. The documents required will vary based on each student. Students must provide all requested documents/forms to the Office of Financial Aid in order to complete the verification process and determine eligibility for financial aid.

Where and how do I send these documents/forms?

• Students must fill out and submit their verification worksheet electronically on their Net Partner Portal. Additional documents must be uploaded with the verification worksheet.

How long does the process take?

• Typically the process takes no longer than two weeks. If additional documents are requested it may take longer. This is the reason why submission of documents in a timely manner is important.

What happens if there are discrepancies with my FAFSA?

• Once all requested documents/forms are received, they are compared to the original FAFSA. If discrepancies are found, the FAFSA will be reprocessed with the correct information. The correction could change the expected family contribution (EFC), which may cause a change in the final financial aid award.  If there is any change in the EFC, you will receive a letter or e-mail with instructions to view the revised financial aid awards.
• Note: If a student makes subsequent changes to their FAFSA, it is his/her responsibility to notify the Office of Financial Aid immediately, since any change could affect their Financial Aid eligibility.

How can I check the status of my verification?

• You may contact us via e-mail at amufinancialaid@avemaria.edu or by phone, 239-280-1669.

How do I verify my income?

• Per the U.S. Department of Education, income can only be verified by transferring the income information electronically from a valid tax return to the FAFSA using the IRS Data Retrieval Tool or by requesting and submitting a Tax Return Transcript from the IRS.
• If a student is not eligible to use the IRS Data Retrieval Tool, he/she will be required to obtain a Tax Return Transcript from the IRS and submit it to the Office of Financial Aid. Copies of tax returns (1040, 1040A, 1040EZ) may be accepted if the IRS data retrieval tool cannot be utilized.
  • The fastest way to request a Tax Return Transcript is either by phone or online at IRS.gov, “Get Your Tax Record”.
  • A Tax Return Transcript should be requested. DO NOT request a Tax Account Transcript or Record of Account unless directed by the office to do so.

Is Participation in the verification process optional?

• No. If you do not submit the requested documentation, you will not be eligible to receive federal, state or institutional need-based financial aid and your parents will not be eligible to borrow a federal PLUS loan.

Can the institution collect and use my Social Security number?

• In compliance with FL Statute 119.071(5), The Office of Financial Aid at Ave Maria University may collect social security numbers for the following reasons:
• For use in administering federal and state programs/loans, including verification of eligibility. These programs include, but are not limited to:
  • Financial Aid and other related loan programs;
  • Scholarship Programs, including Florida Bright Futures.

Is there a deadline to complete Verification?

• For Federal Grants, applicants must complete verification by 30 days after the student’s last date of enrollment or by the date advertised in the federal register, whichever is earlier.
• For the Direct Loan programs, applicants must complete verification by the last date of enrollment.
• You should complete the verification process immediately to ensure you have a complete aid package to cover your balance prior to AMU’s payment deadline. Processing of complete documents is only guaranteed if submitted at least 2 weeks prior to payment deadline. You are at risk of incurring late fees or being withdrawn from your classes if you miss the deadline. Your bill will not be deferred due to the verification process.

Referral or fraud cases

If we suspect that a student, employee, or other individual has misre­ported information or altered documentation to fraudulently obtain federal funds, we will report our suspicions and provide any evidence to the Of­fice of Inspector General. The complaint will be submitted online at http://www2.ed.gov/about/offices/list/oig/hotline.html.

WHAT IS THE ANNUAL STUDENT LOAN ACKNOWLEDGEMENT?

The Annual Student Loan Acknowledgement is an online session that allows students and parents to see how much they have borrowed, preview what their monthly payments might be, and explain concepts such as capitalization and the difference between federal and private loans.

WHAT WILL YOU GAIN FROM THE ANNUAL STUDENT LOAN ACKNOWLEDGEMENT?

• Knowing how much you owe in federal student debt will allow you to make informed choices before agreeing to borrow more money to pay for higher education.
• Calculating the monthly payments and the median salary you can expect to receive after graduating from college will give you a better understanding of your obligation.
• Breaking down basic loan concepts such as interest accrual, capitalization, and the difference between private and federal student loans will help you better understand the balance for repayment.

HOW DO I COMPLETE THIS?

After April 15th, 2020, log into your MyStudentAid account using your FSA ID and password to complete the Annual Student Loan Acknowledgement requirement.