1. SATISFACTORY ACADEMIC PROGRESS. Academic progress for financial aid recipients is checked each year at the end of the Spring Term or at the time FAFSA results are received regardless of whether the student has received financial aid. Therefore, we reserve the right to cancel this award if you do not meet the FAU policy requirements. The complete Satisfactory Academic Policy is located at www.fau.edu/finaid, then click on Policies/Rules & Regulations.
2. TUITION & FEE POSTPONEMENT. Tuition and fees will be automatically postponed for all financial aid and Bright Futures Scholarship recipients (except Federal Work Study) whose award offer(s) has been accepted online by the fee payment deadline. Students accepting Federal Stafford Loans must complete the Master Promissory Note (MPN) and submit the Lender Designation Form to the Office of Student Financial by the fee payment deadline in order to qualify for deferment. If your financial aid is insufficient to cover your tuition and fees, you will be assessed a late fee, unless you pay the difference by the Fee Payment deadline. Therefore, if you decide not to attend classes, YOU WILL BE FEE LIABLE UNLESS YOU FORMALLY WITHDRAW FROM ALL COURSES WITH THE REGISTRAR’S OFFICE PRIOR TO THE END OF DROP/ADD. Failure to attend classes, to pick up a check, to sign a promissory note, cancellation of financial aid, or moving out of the dormitory, etc. will not release you from fee liability.
3. HOUSING FEE POSTPONEMENT. Fees may be deferred only if you have sufficient financial aid to cover both tuition and housing fees prior to the housing deadline. A prepayment is required at the time you submit your housing agreement. For more information, you may contact the Housing Office at (561) 297-2880.
4. FEE PAYMENT. Total payment of tuition and fees must be made by the fee payment deadline established by the University. FAU uses a net check system for disbursements of nearly all financial assistance, including grants, FAU scholarships, and most loan programs. Therefore, fees owed will be deducted from financial aid starting with the first award issued and continuing until funds are exhausted or all fees are paid. If your combined financial aid award including the Bright Futures Scholarship, does not cover 100% of your tuition and fees, you will need to contact the Controller’s Office - (561) 297-6101, prior to the end of the fee payment deadline to arrange payment of the difference between your fees owed and your pending financial aid disbursements.
5. DISBURSEMENT OF FINANCIAL AID is a function of the Controller’s Office. To monitor for disbursements, log on to MyFAU. Click on the Money Matters! tab, then click on the "View 2008-2009 Financial Aid Information" link. Since the financial aid disbursement process takes several weeks, it is essential that you set aside personal funds to cover living expenses incurred during the first few weeks of classes. FAU encourages students to open a BankAtlantic account and complete a Direct Deposit for Financial Aid authorization form (available online or hardcopy available in the Controller’s Office). However, FAU is able to directly deposit funds into your existing financial institution. Financial Aid disbursements will be made directly to the students’ bank account. For students without bank accounts, NET checks will be mailed to your local address on file with the Registrar’s Office.
6. RETURN OF FUNDS. If you withdraw from school, drop below half-time or change your enrollment status after the drop/add period, your financial aid award may be reduced or cancelled. Since the financial aid you are receiving is designed to help meet your living expenses while attending school, you may be required to repay all or a portion of any funds received prior to your standard or medical withdrawal from school. In addition, refunds issued by the Controller’s Office due to a change in enrollment may have to be returned to the financial aid program from which your aid was awarded. The amount of the refund and/or repayment owed is calculated based on a formula provided by the U.S. Department of Education.
Bright Futures Recipients: If you medically withdraw from school, your entire Bright Futures Scholarship disbursement must be returned to the Florida Department of Education. This includes the book allowance for Florida Academic Scholarship recipients.
7. CHANGE OF ADDRESS. All financial aid correspondence and checks will be mailed to the local address maintained by the Registrar’s Office. Therefore, it is very important that you notify that office immediately of any changes in your LOCAL ADDRESS in order to avoid delays caused by lost/forwarded mail. Address updates may be submitted online through FAU Self-Service (OWLS) on MyFAU.
8. ENROLLMENT. All students must be DEGREE-SEEKING AND ENROLLED AT LEAST HALF-TIME AT FAU TO BE ELIGIBLE FOR FINANCIAL AID (6 credits for undergraduate students – including 2nd bachelors students, 5 credits for graduate students). Full-time enrollment is defined as 12 semester hours for undergraduate students and 9 semester hours for graduate students. Federal Pell Grant recipients may be eligible to receive a Pell Grant with less than half-time enrollment. Your initial award offer has been based on your enrollment projections for the first semester you indicated attendance during the academic year. Any changes in your anticipated enrollment may result in the revision or cancellation of your financial aid award. Audited classes are excluded from the determination of eligible enrollment for purposes of receiving financial aid. If you withdraw from a course, you must provide documentation from your professor that you attended. Failure to provide documentation may result in repayment of Title IV funds.
9. CONCURRENT ENROLLMENT. Undergraduate students wishing to participate in a concurrent enrollment program with another eligible institution, and receive their financial aid award(s) must be ENROLLED FOR A MINIMUM OF SIX (6) CREDITS AT FAU during that term, and submit the appropriate forms to the FAU Student Financial Aid Office by the end of the drop/add period each semester (except for Federal Pell which may be disbursed if enrolled in less than 6 credits at FAU). Failure to submit required documents by the end of the drop/add period could result in the reduction of aid. Click here to download a copy of the Concurrent Enrollment Form.
10. LOAN COUNSELING. FIRST-TIME RECIPIENTS OF FEDERAL STAFFORD AND/OR GRADUATE PLUS LOAN AWARD(s) MUST COMPLETE ENTRANCE COUNSELING prior to the release of their loan funds.
a. Federal Stafford Loan Recipients: All Federal Stafford Loan borrowers must meet the following requirements prior to the disbursement of Federal Stafford Loan Funds:
Master Promissory Note: A Completed Master Promissory Note (MPN) must be on file with the borrower’s lender. Once a borrower has a completed MPN on file with their lender, future Stafford loans can be processed without the need of a new MPN as long as the borrower continues to be processed by the same lender and FAU. All of FAU’s preferred lenders provide a way for you to complete your MPN via the internet. Internet links for MPN completion for FAU’s preferred lenders are found at http://www.fau.edu/finaid/stafford/mpn.php. Contact your lender if you are unclear of your MPN status.
Loan Entrance Counseling (first time borrowers only): All first time Federal Stafford Loan and/or Graduate PLUS Loan borrowers are required to complete Loan Entrance Counseling. This requirement is satisfied by completing the interactive Stafford Loan Entrance Counseling session on the internet at www.mapping-your-future.org.
b. Seniors in their Final Semester: When an undergraduate borrower’s remaining period of study is shorter than a full academic year, the Stafford Loan must be prorated based on enrollment. Failure to notify the Student Financial Aid Office prior to the beginning of your final semester may result in immediate repayment of a portion of your Stafford Loan. Students who owe a balance to FAU will not receive their diplomas.
In addition, ALL LOAN RECIPIENTS MUST COMPLETE EXIT COUNSELING prior to graduation or if enrollment drops below half-time. Exit counseling may also be completed on-line at www.mapping-your-future.org.
11. BRIGHT FUTURES SCHOLARSHIP. ALL students receiving the Bright Futures Scholarship must be considered a Florida resident by the University. Students should also be degree-seeking and enrolled in a minimum of six credit hours per semester by the end of the drop/add deadline.
12. AWARD REVISIONS. Students are allowed ONE REVISION request per semester concerning changes in type of aid and/or amount of award. Requests for revisions to your award must be submitted to the Financial Aid Office by the last day of drop/add each semester OR three weeks from the date of the award email notification, if received after the drop/add period.
13. SUMMER AWARDS. Requests for summer term awards will begin the first business day in February. Complete the application exclusively online on MyFAU. Funding is limited, prompt submission of a summer application is advised. For detailed terms and conditions related to summer, please go to the FAU Financial Aid website and, and click on Summer Financial Aid Information.
Note Bright Futures: The Bright Futures Scholarship will not be available for the summer term. If you need aid for the summer, you must file the Free Application for Federal Student Aid (FAFSA) and complete the one page summer application form available on MyFAU (Click on the Money Matters! tab).
14. SHORT TERM ADVANCES. The Short Term Advance is a University monetary advance available to assist degree-seeking students enrolled at least half-time with purchasing textbooks, emergency funds relating to educational expenses or unanticipated living expenses incurred prior to the date that their financial aid funds are disbursed.
Applications are available on MyFAU (Click on the Money Matters! tab). You must have a bank account with any financial institution (preferably with BankAtlantic) and complete the Financial Aid Direct Deposit authorization form prior to applying (online form located on MyFAU -- click on FAU Self Service (OWLS) link. If you meet ALL eligibility requirements, you will receive the proceeds during the first week of classes.
Keep in mind that the Short Term Advance is NOT a source to assist with paying your tuition and other related fees. In consideration of approval of the loan application and receipt of funds, the student promises to pay the FAU Cashier's Office the principal sum amount borrowed (up to $500) plus a non-refundable charge of $5.00 on or before FORTY FIVE CALENDAR DAYS from date funds are disbursed, or upon receipt of financial aid funds, or upon cancellation of financial aid funds, or the last day of the term, whichever comes first. For more details, visit the Short Term Advance webpage.
15. RECIPIENTS OF STATE GRANTS. For those students receiving the Florida Student Assistance Grant (FSAG), you must be enrolled full-time. You must have a minimum cumulative GPA of 2.000 and complete 24 credit hours within the academic year in order to receive FSAG the following year. Part time FSAG funds may be available on a limited basis, and only to students meeting certain eligibility criteria. For those students receiving the Florida First Generation Matching Grant, you must be enrolled in a minimum of six credit hours at FAU. You must have a minimum cumulative GPA of 2.500 and complete at least 12 credit hours within the academic year in order to receive Florida First Generation Matching Grant the following year. Additional information is available on-line at http://www.floridastudentfinancialaid.org.
16. RESTRICTIONS TO BRIGHT FUTURES FUNDING. A maximum of 45 semester hours may be funded in one academic year. All hours will be paid at the undergraduate rate. Graduate hours may be funded only if they are used to satisfy undergraduate degree requirements and will be paid at the undergraduate rate. NO remedial coursework is funded.
17. YOU MUST REPORT ALL OUTSIDE AWARDS. You must notify the Office of Student Financial Aid immediately if you receive assistance from outside sources (for example: scholarships, waivers, Veterans Educational Benefits, Florida Prepaid Tuition and Housing). Failure to do so could result in your having to repay funds already disbursed and revisions to your award package to reflect any outside awards. Check MyFAU (Money Matters! tab) regularly for any modifications of your financial aid award(s).
18. RECIPIENTS OF PELL GRANTS. Federal Pell Grant awards will be automatically "ACCEPTED" on the system and funds will only be disbursed for credits required for degree in your current program of study. Funds will NOT be disbursed for Graduate level courses. Students must begin attendance in all of their classes in order to receive a Pell Grant. If you withdraw from a course, you must provide documentation from your professor that you attended. Failure to provide documentation will result in repayment of your Pell Grant.
19. INSTITUTIONAL GRANTS. Please be advised that, regardless of award projections, all types of grant support are directly linked to the hours for which enrolled. At the end of the drop/add week, it is your final enrollment upon which the grant disbursements will be calculated. Your grants will be reduced if you are less than Full-Time. You may be required to repay the grants if you withdraw from off of your classes.
20. ACADEMIC COMPETITIVENESS GRANT (ACG) and SCIENCE AND MATHEMATICS ACCESS TO RETAIN TALENT GRANT (National SMART Grant) PROGRAMS. To review initial eligibility requirements, log on to the Financial Aid website at http://wise.fau.edu/finaid/typesofaid/fed_loansgrants.php. Students must be enrolled full time and must have a minimum GPA of 3.000 to be considered for renewal.
21. STUDENT CERTIFICATION-BRIGHT FUTURES - I certify that I do not owe a repayment on a Federal Pell Grant, a Federal Perkins Loan, a Federal Supplemental Educational Opportunity Grant, or a State Student Incentive Grant; nor am I in default on any federal Title IV or state loan program received for attendance at any institution. Please be advised that your estimated award prior to the end of drop/add is based on 15 credits. Your award will be adjusted at the end of drop/add. Classes added after this date will not be included in your disbursement unless you notify the Office of Student Financial Aid. For more information, please see the Bright Futures website at http://www.floridastudentfinancialaid.org or call the Bright Futures hotline at 1-(888) 827-2004.
22. COMMUNICATION & NOTIFICATION POLICY - All Forms of communication will be sent via the student's FAU email account. Email notifications will be the primary method of communication between students and the Office of Student Financial Aid. It is the student’s responsibility to frequently monitor their FAU email account for notifications, such as student requirements, award offers and satisfactory academic progress. It is recommended that students print any pertinent online documentation for the purpose of maintaining a personal paper file of important financial aid materials.
---------------------------------------------------------------
I authorize Florida Atlantic University to deduct any allowable charges other than tuition, fees, residence hall and meal plans (if applicable) or prior year charges from my financial aid. Authorization may be cancelled or modified with written notification to the Financial Aid Office. I have read the conditions of this award and the Satisfactory Academic Progress Policy.
I FULLY UNDERSTAND THE OBLIGATIONS INCURRED IN ACCEPTING THIS AWARD. I FURTHER UNDERSTAND THAT I AM BOUND BY THE TERMS AND CONDITIONS FOR ANY REVISIONS TO MY AWARD THAT OCCUR DURING THIS ACADEMIC YEAR.
