|
|
|
The Financial Aid Office at Plymouth State University assists qualified students who are unable to meet their entire educational expenses from their own and their family's resources. The three basic forms of assistance available are grants/scholarships, loans, and work opportunities. Additional Financial Aid information is available at www.plymouth.edu/finaid Plymouth State University, in accordance with Federal and State laws and regulations, does not discriminate on the basis of race, color, religion, national origin, sex, age, veteran's status, sexual preference, or disability in access to, treatment of, or employment in its Financial Aid Program. APPLICATION PROCEDURE Students should apply for Financial Aid prior to March 1 for the next academic year. Early applications are encouraged. Although requests for aid may be considered at any time during the year, it is to your advantage to observe the March 1 deadline for making application. Applications received after March 1 will be considered only after all on-time applications have been processed. No action will be taken on an application until:
The FAFSA or Renewal FAFSA will serve as the application for all Federal aid programs, PSU University Scholarships, Federal Work Study, Federal Loans and most special scholarships. The FAFSA is available upon request from the Financial Aid Office and from high school guidance offices. Applicants continue to be eligible for Financial Aid as long as they maintain satisfactory academic progress, adhere to filing deadline dates each year and continue to have financial need. Financial Aid is not automatically renewable. Financial Aid applications must be filled out each year by March 1 for consideration for the next academic year. SATISFACTORY PROGRESS AND FINANCIAL AID The Education Amendments of 1976 require that institutions limit Federal financial assistance to those students who, according to institutional standards, are in good standing and making satisfactory progress. The guidelines are established to encourage students to complete courses successfully. Academic standing (qualitative progress) is defined in the Academic Catalog (Academic Warning, Probation and Severance). All degree candidates must maintain academic standing consistent with
PSU's graduation requirements (which is based on a graduated scale (see Academic Catalog) with a 2.0 GPA required for graduation). Continuing students' quantitative progress (credits earned) will be reviewed once a year prior to the award/disbursement of Financial Aid for the next academic year. Readmitted students' quantitative progress will be reviewed at point of re-entry. Satisfactory Progress is outlined in the Academic Catalog under the Financial Aid section. A Financial Aid Officer will inform students by letter regarding non-eligibility for Financial Aid. If students choose not to appeal, reinstatement for Financial Aid consideration will occur when students attain the necessary credits, by earning credits above the semester minimums and/or attending a Summer or Winterim session(s). If a student feels there have been mitigating circumstances that have prevented satisfactory progress, a letter of appeal can be presented to the Financial Aid Committee for review. At the time of review the student will either be allowed to continue Federal Financial Aid eligibility (normally based on mitigating circumstances) or not be allowed to continue based on weak academic performance. If the students' appeal is denied, the Director of Financial Aid will explain how eligibility may be restored. Failure to regain satisfactory progress status will result in the loss of all Federal, State and University aid, including grants, scholarships, loans and/or work-study employment. WITHDRAWING WHILE RECEIVING FINANCIAL AID If a student is receiving Federal Financial Aid (Stafford Loan, Perkins Loan, PLUS, PELL, SEOG, and LEAPP-State Grants) and withdraws within 60% of the enrollment period, a portion of the awarded Federal aid must be returned according to the Higher Education Amendments of 1998. Generally within 10 days of the withdrawal date, the Bursar and Financial Aid Offices determine amount of funds a student is required to return. The calculation may result in the student owing a balance to the
University and/or Federal Title IV programs. GRANTS Federal PELL Grant Both full-time (defined as 12 credits per semester) and part-time matriculated students may apply for this grant. The FAFSA or Renewal FAFSA must be submitted for award determination. The student will receive a Student Aid Report that may be presented to the
PSU Financial Aid Office for determination of the grant amount. The maximum PELL may be as high as $4,000 with average awards about $2,000. Grants are available to those students with exceptional financial need who are enrolled full-time or part-time (at least 6 credits) as undergraduates. Awards of $100 - $4,000 may be made to eligible students, with average awards about $1000. State-Sponsored Grants Your home state may offer a state grant or scholarship for which you can apply. Generally, application is made by completing the FAFSA or Renewal FAFSA. States currently participating in this program, which allow you to bring a state grant to New Hampshire, are Connecticut, Pennsylvania, Rhode Island, Vermont, Maine and Massachusetts. New Hampshire residents have until May 1 to apply for the N.H. Incentive grant. State grants generally range from $500 - $1000 per year, depending on funding available. Talent Grants Several talent grants are awarded to entering first year students based on the following talents:
LOANS Federal Perkins Loan (National Direct Student Loan Program) This program provides funds for educational expenses for full-time and part-time students. Repayment, which includes 5% per annum simple interest, begins nine months after the borrower ceases to carry at least one-half of the normal full-time academic load. Deferments are granted for military service and during Peace Corps and Vista Volunteer assignments. Minimum principal and interest repayment is not less than $40 per month. Loan cancellation provisions apply to borrowers who teach in designated schools, Head Start programs, or who teach handicapped students. Federal Stafford Loan (Subsidized and Unsubsidized) The Stafford Loan Program enables you to borrow money from eligible lenders (banks, credit unions, guaranty agencies) at a variable interest rate (not to exceed 8.25%) to meet educational costs if you have financial need and are at least a half-time student. The maximum loan amount depends on your year in school and dependency status. It is possible for a student to have a Federal Stafford Loan partly based on need (subsidized) and partly not on need (unsubsidized).
Federal PLUS (Parent Loan for Undergraduate Students) Interest rate is variable (not to exceed 9%). and the loans are made by banks, credit unions, and guaranty agencies. Parents without adverse credit histories may borrow up to the Cost of Education minus any estimated Financial Aid awarded to the dependent student. Dependent students, whose parents are not eligible to borrow a PLUS loan, may qualify for an additional Unsubsidized Federal Stafford Loan. Payment normally begins 60 days after disbursement. PSU SCHOLARSHIPS PSU Achievement Scholarships High School graduates who have demonstrated outstanding academic achievement and aptitude and/or have displayed exceptional talent in specific areas of achievement are considered. (President's Scholars) - Twenty, $3,000 scholarships, will be awarded to entering freshman who have demonstrated outstanding academic performance and overall achievement. The awards will be renewable each year upon demonstration of having achieved established performance standards (3.25 GPA). (NH Top Scholars) - $2,500 awards to NH high school seniors who graduate in the top 15% of their class and meet PSU Admission requirements. Awards renewed if a 3.0 GPA is maintained. (Excel Awards) - Fifty, $1,500 awards, to first year students based on high school class rank and SAT scores. Awards renewed if student maintains a 2.85 GPA. (PSU Scholars) - Seventy-five, $2,000 scholarships, will be awarded to entering students on the basis of overall merit and past achievement. The awards will be renewable each year upon demonstration of having achieved established performance standards (3.0 GPA) (Aspire Awards) - A hundred-fifty, $1,000 awards, to first year students based on high school class rank, SAT scores and potential for success. Awards renewed if student maintains a 2.75 GPA. Alumni Scholarship Five, $750 scholarships, are available to well-qualified upper-class students. The Alumni Association awards these on the basis of scholarship attainment, academic ability and promise, character and financial need. One $750 scholarship is available to any graduate of PSU accepted into either the M.Ed. or M.B.A. programs and enrolled full time. It is awarded on the basis of potential for achievement in the graduate program and financial need. Apply through the Alumni Office. University Scholarship Scholarships, covering partial University expenses, are available for both resident and non-resident students. These awards are based primarily on financial need however scholastic achievement, participation, and leadership in co-curricular activities may be considered. You are automatically considered for a University Scholarship when you file the FAFSA or renewal FAFSA. Graduate Student Scholarship The Office of Graduate Studies offers scholarships to full-time graduate students who exhibit both need and potential for achievement. Applications may be obtained from either the Education Department (M.Ed.) or Business Department (M.B.A.). International Student Scholarship A limited number of tiered scholarships are available for returning International Students. Criteria for receiving the scholarship include cultural exchange, community enhancement and academic success. Applications are available through the International Student Services office http://www.plymouth.edu/internat/ Undergraduate Fellowships Seventeen (17) awards of $1,000 are made each semester to upper-class students who have a 2.5 GPA or above. For more information contact the PSU Financial Aid Office or the participating departments. WORK OPPORTUNITIES Federal Work Study Plymouth State University participates in the Federal University Work-Study Program. The purpose of the program is to help students, with financial needs, meet
University expenses by working part-time on the PSU campus. Student Hourly Students who are not eligible to work under the Federal Work-Study program may be eligible to work under PSU's Student Hourly work program. This program also pays an hourly rate of $6.00/$6.50/$7.00 per hour for time actually worked on campus. Check with the campus departments concerning eligibility and job opportunities. OTHER SOURCES OF AID High school students are well advised to seek out information regarding local and state aid programs. Organizations such as the PTA, Grange, Rotary, Lions, Kiwanis, Dollar for Scholars Program, etc, may be able to assist the student with scholarships. Most state governments, under their departments of education, offer vocational rehabilitation assistance to the students with various handicaps. In addition, orphans or war veterans should consult the Veteran's Administration concerning their eligibility for financial assistance. Come and browse the PSU Financial Aid Office Library for more information and access to aid information on the www: [fastweb.com, finaid.org, Universityboard.org, Universityboard.com]. |
|
Related Topics: |
|
