FINANCIAL AID POLICIES
ATTENDANCE
The Financial Aid Office will monitor the attendance record of students receiving financial aid. Students who are not attending will be subject to reduction and possible loss of all financial aid. This may result in a financial liability on the part of the student for tuition, fees, and books.
RETURN OF FUNDS
Students who receive Federal Title IV Funds (Pell Grant, SEOG Grant, Stafford Loans) and stop attending classes, withdraw from classes, receive all failing grades, or a combination of withdrawals and failing grades are subject to a return of Title IV Funds. This may result in the student owing a refund to the college, the Federal Student Aid Program or both.
Example: A student’s financial aid consists of a Pell Grant of $1,500, and the student’s tuition is $672. The student withdraws on the 26th day of a 118-day semester. The student is eligible for 22% of $1,500 or $330. The college would return $1,170 ($1,500 - $330) to the U.S. Department of Education, and the student would owe the college $342 ($672-$330).
Financial Aid Satisfactory Progress Policy
The Rend Lake College Office of Financial Aid is required by the United States Department of Education and the Illinois Student Assistance Commission to monitor the academic progress for students receiving federal and/or state financial assistance (MAP and IIA). Satisfactory Progress Standards are used to ensure that students who receive any federal or state assistance are satisfactorily progressing toward their educational goals in an approved certificate or degree program.
Students must be in compliance with the Financial Aid Satisfactory Progress Policy regardless of whether the student has previously received any financial aid. All semesters of attendance are included in the evaluation. All transfer course work that has been accepted for credit by Rend Lake College will be considered in determining eligibility. Students who have not previously received financial aid will not be notified of their status until they have applied for financial aid.
Satisfactory Progress Requirements
Satisfactory Progress must include qualitative and quantitative measurement consistently applied to all students. At Rend Lake College these measurements are determined by the following criteria:
- Cumulative Grade Point Average is at least 2.0
- Cumulative Completion Rate is no less than 67% (total credit hours earned divided by total credit hours attempted)
Financial Aid Probation
A student who fails to meet the above named requirements for the first time will be placed on Financial Aid Probation. Financial Aid Probation is a warning status and will have no impact on the eligibility for financial aid.
Financial Aid Suspension
Suspension of financial aid occurs when a student who is on Financial Aid Probation fails to meet the Satisfactory Progress Requirements criteria during any semester of attendance after being placed on probation. Students who are suspended are no longer eligible for financial aid benefits.
Maximum Time Frame
Degree or certificate requirements must be completed within a specified time period. At Rend Lake College a student must complete his/her chosen academic program before attempting 150% of the number of hours required for the program. Students who have already earned a degree will be considered to have exceeded this time frame. Appeal Process: Students who are pursuing an additional degree or certificate or have changed majors are eligible to file an appeal for an extension. The 150% appeal forms are available from the Office of Financial Aid and Veteran's Affairs or Online. Appeals will be reviewed by the Financial Aid/Appeals Committee.
Satisfactory progress will be evaluated at the end of each semester.
Appeal Process
Students have the right to appeal termination of financial aid due to unsatisfactory academic progress. This appeal should document any relevant circumstances wherein it can be shown that the unsatisfactory progress was due to unforeseeable or extenuating circumstances - and that such progress is not indicative of the general pattern of grades or withdrawals previously established. Financial need is not sufficient criteria on which to base the appeal. The Appeal Committee will review the appeal and the student will be notified by mail of the decision. Appeal forms are available from the Office of Financial Aid and Veteran's Affairs or Online.
Grades of 'A', 'B', 'C', and 'D' are considered completed. Grades of 'I', 'W', or 'E' are not considered completions. Courses that have been repeated remain in attempted hours, but are removed from earned hours and the lowest grades are excluded from the GPA. No more than 30 remedial/deficiency hours will be allowed for financial aid benefits.
There must be reasonable expectation that a student can regain eligibility if reinstated.
THE DECISION OF THE APPEAL COMMITTEE IS FINAL |
