Student Financial Services
Basic Information
General Eligibility Requirements
Verification of Application Data
Determining Eligibility For "Need" Based Aid
Satisfactory Academic Progress
CAREFULLY READ THE FOLLOWING INFORMATION REGARDING CHANGES FOR FALL 2013. PLEASE NOTE THAT THE OFFICE OF STUDENT FINANCIAL SERVICES AWARDS FINANCIAL AID, AND THE CASHIER’S OFFICE ISSUES REFUNDS.
PLAN AHEAD NOW
FOR CHANGES IN REFUND DATES FALL 2013
Refunds will not be issued on the first day of class. Refunds will be issued September 13. Eligible students may purchase books/supplies at the campus bookstore using the estimated credit balance on their student account.
The University of Montevallo now offers students the opportunity to purchase books and supplies at the Barnes & Noble campus bookstore using their Financial Aid that has been applied to their account!
Students are encouraged to file the Free Application for Federal Student Aid (FAFSA) early (preferably prior to July 15) and make certain every outstanding requirement is met in order to receive an award notification that will reflect authorized/pending aid. The authorized/pending aid can be viewed on Banner Self Service (BSS). Charges for tuition, fees, room and board will also be on BSS as charges are placed on each account.
If a student’s aid is greater than their charges, there will be an estimated credit balance. Students with an estimated credit balance will be eligible to purchase books and supplies at the campus bookstore from August 12 – September 4. The amount allowed will be capped at the amount of the estimated credit balance not to exceed $1,000.
Financial aid will be applied to student accounts Friday, September 6.
Students reported as not attending will be dropped from classes and will not receive a refund.
Loans will not be reflected as authorized/pending until all requirements have been completed.
Keep in mind that first year borrowers will receive loan funds thirty days after the term begins.
Refunds from the Cashier’s Office will be issued Friday, September 13.
Students are encouraged to budget wisely since the refund process will be later than in previous terms. Contact the Career Center to discuss opportunities for summer employment.
COMMUNICATION WITH STUDENTS (Back to Menu)
The primary communication with students is through ForUM email and Banner Self Service. Students are strongly encouraged to check ForUM email and Self Service weekly to monitor requests for additional documentation, notice of awards and other vital information. Students accept/decline aid offers on Self Service. New students are provided access information to ForUM when admitted to the University.
After filing the Free Application for Federal Student Aid (FAFSA), students may need to submit additional information to complete the process. Letters will be mailed and notification will also be sent through ForUM email explaining the need for additional documentation. Please respond immediately or aid will be delayed.
ADMISSION STATUS (Back to Menu)
Students not currently enrolled or accepted for admission unconditionally, should apply for admission immediately. The application for federal financial aid cannot be acted upon until students have been unconditionally admitted in a degree-seeking program.
The University of Montevallo does not discriminate on the basis of race, color, national origin, sex, religion, age, veteran status, or disability in employment or in the provision of service
TRANSFER STUDENTS/RETURNING STUDENTS (Back to Menu)
If you are a new transfer student or if you have previously attended UM and you are returning after attending elsewhere, please note that federal aid received at another institution must be considered when the University of Montevallo awards aid. Federal grants and loans awarded are reported to the National Student Loan Data System (NSLDS). Every effort is made to check this information with NSLDS on a timely basis. If a student is awarded federal aid, and it is later determined that the student has exceeded the annual or lifetime limit for federal aid due to the amount received at another institution an adjustment will be made. In most cases, this will result in the student having a balance due in the Cashier’s Office. If you have questions regarding the annual limits or lifetime limits on federal aid, please contact the Office of Student Financial Services. You may view your loan and grant history at www.nslds.ed.gov.
GENERAL ELIGIBILITY REQUIREMENTS (Back to Menu)
Students must meet all of the following requirements in order to be awarded federal aid:
- Be a U.S. citizen or permanent resident
- Be accepted unconditionally for enrollment in a degree-seeking program or Teacher Certification
- Maintain satisfactory academic progress in your course of study
- Not be in default on a federal loan or owe a refund on a grant received for attendance at any post-secondary institution
- Not be convicted of drug possession or drug sale (See FAFSA instructions)
APPLICATION PROCESS (Back to Menu)
Complete the Free Application for Federal Student Aid (FAFSA) by the March 1 priority date each year. This is not a deadline! The FAFSA is available on the internet after January 1 at www.fafsa.gov. Paper worksheets are available in Student Financial Services. Be certain to use the UM school code 001004. Federal fiscal years are from July 1 to June 30. The federal deadline for submitting the FAFSA is June 30 (for example June 30, 2013 is the deadline for 2012-13).
Students are encouraged to use the IRS data retrieval tool when filing the FAFSA electronically if the option is offered. Typically this tool is available two weeks after filing the tax return. In certain circumstances, this option is not offered.
When the FAFSA is processed, information is sent electronically to the Office of Student Financial Services where the file is evaluated to determine eligibility for federal aid. If additional information is needed, letters will be mailed and notification will also be sent through ForUM email explaining what is needed. Please respond immediately or aid will be delayed.
VERIFICATION OF APPLICATION DATA (Back to Menu)
If applications are selected for a review process called verification, students will be able to view the document requirements on Banner Self Service. Students will also be notified by regular mail and through the ForUM email when there is a need for additional information. Typically the following documents are required and must be submitted to the Office of Student Financial Services:
-
Verification worksheet - see /finaid/forms/
-
IRS tax return transcript for student and parent/spouse if requested (obtain online at www.irs.gov or call 1-800-908-9946)
-
Other requirements will be noted on Banner Self Service and through ForUM email account
Check Banner Self Service Financial Aid Requirements to determine whether or not you need to submit a tax transcript. Students who use the IRS Data Retrieval tool when filing the FAFSA may not need to submit a tax transcript.
A determination of eligibility cannot be made until the verification process is completed. Other documents may be requested. All documents required for verification must be submitted within 60 days of request or your application processing will be terminated.
If your file is selected for this review process, please do not make changes to the FAFSA. Any corrections needed will be processed on your behalf by the Office of Student Financial Services.
Please note that in some cases students may be selected for verification AFTER an award has been made. The aid awarded may have to be withheld until verification has been completed. Typically this can happen if a student makes a change to the FAFSA after being awarded aid.
DETERMINING ELIGIBILITY FOR "NEED" BASED AID (Back to Menu)
The FAFSA provides the Office of Student Financial Services with a figure that reflects the student's "Expected Family Contribution" (EFC). This figure represents what the federal government believes a student and/or parent(s)/spouse can reasonably be expected to contribute toward the educational cost. This figure is calculated from the income information submitted on the FAFSA.
The Office of Student Financial Services establishes the Cost of Attendance (COA) for the award year. This includes an estimate of tuition, fees, books, supplies, room, board, transportation and personal expenses. If the student's EFC is less than the COA, the student has "demonstrated need". If the EFC is greater than the COA, there is no need demonstrated. Need determines what type of federal aid the student is eligible to receive.
AWARD NOTIFICATION (Back to Menu)
When all documents have been provided and applications are reviewed to determine eligibility for federal aid, students are awarded. When awarded aid, new students are notified by regular mail and through the ForUM email account. All other students are notified through ForUM email only. The notification provides instructions regarding Self Service. Aid offers are accepted/declined on Self Service. Prior to accessing the “Accept Award Offer” tab on Self Service, students must click on the “Terms and Conditions of Award” tab and click “accept” after completing the requirement. This will provide access to “Accept Award Offer” where aid offers are accepted/declined. Please note that beyond accepting/declining aid there may be additional requirements for certain types of aid. These additional requirements are addressed in detail under "Terms and Conditions of Award”.
Please advise the Office of Student Financial Services if you expect to receive financial assistance from external sources. This assistance must be considered when determining eligibility for federal aid.
HELPFUL INFORMATION (Back to Menu)
Apply Early - File the Free Application for Federal Student Aid (www.fafsa.gov) by the March 1 priority date each year. If you wait until later to file, funds may not be available on a timely basis to assist with your expenses. Filing late could also affect the timeliness of any refunds.
IRS Data Retrieval Tool - Take advantage of this feature when filing the FAFSA if it is offered. This will allow you to retrieve your tax information from the IRS to ensure accuracy. This feature is typically available two weeks after the tax return is filed.
Use Your Legal Name - Complete all forms using your legal name. Do not use nicknames. Notify the Office of Student Financial Services of any name change.
Use Your Correct Social Security Number - Enter your CORRECT Social Security number on all forms. Be sure to review your Social Security number for accuracy; transposed or incorrect numbers will result in a delay in processing. Also, make certain parent(s)/spouse provide the correct Social Security number and name that appears on their card.
Do Not Estimate - Use completed Federal Income Tax returns to complete the FAFSA. If you estimate this data, you will need to correct it, which will delay the processing of your application.
Do Not Leave Blanks - Never leave a question blank on any application. Blank questions will delay your application.
Read And Respond - Carefully read and follow instructions provided. Respond quickly to all requests from the Office of Student Financial Services. Even if your application is received by the priority date, you will not receive an award if your file is incomplete. Check ForUM email and Self Service weekly.
Take Responsibility - Although you may need your parents to assist you with the application process, keep in mind that you have ownership of your financial aid records; therefore, you need to know what forms and information have been provided.
Keep Copies - Retain photocopies of all forms and correspondence submitted with dates.
Document Phone Calls- If you call to discuss your application, keep notes of the day you called, with whom you talked and what was discussed.
Re-apply - Awards are not automatically renewed from year to year. Annually, file the FAFSA by the priority date of March 1.
Summer Aid - Summer assistance will be based on any remaining eligibility after the aid is awarded for fall and spring semesters. If you have received your annual maximum amounts for federal aid during the fall and spring semesters, there will be no eligibility for summer. Submit the summer application in late March or early April after you register for classes. Applications are available in the Office of Student Financial Services and at /finaid/forms/ at the applicable times.
Review - The Office of Student Financial Services reserves the right to review, revise or cancel the award at any time due to changes in financial or academic status, discovery of incorrect or falsified information, or errors in determining eligibility.
Status Changes - Recipients are required to report to the Office of Student Financial Services any changes in marital, financial or residency status. This includes any financial assistance or scholarships not included on your award from the University.
Course Load - Most awards are based on the understanding that the student will be enrolled full time (12 hours for undergraduates; 9 hours for graduate). Scholarships typically require full time enrollment. To receive federal loans, students must be enrolled at least half time. Half time for undergraduates is six (6) credit hours; half time for graduate students is five (5) credit hours. To maximize grant eligibility, enroll full time.
CONSEQUENCES OF WITHDRAWAL (Back to Menu)
If a student is receiving any type of federal financial aid and withdraws from the University of Montevallo, either officially or unofficially, the student should be aware that he/she may be required to repay some or all of the federal funds received.
The U.S. Department of Education has determined that students earn a percentage of the federal financial aid awarded based on the percentage of the term that he or she attended classes. Students who attend beyond the 60 percent point of the term are considered to have earned 100 percent of their federal financial aid.
Federal regulations require institutions to monitor unofficial withdrawals when a student “drops out” without officially withdrawing. When a student fails all courses attempted, the University must determine if the student actually attended class and earned the grade or if the student stopped attending. A last date of attendance is submitted by faculty in order to determine whether or not a student completed the course. Students who unofficially withdraw are notified and a portion or all of the federal aid is returned to the federal program(s).
Students are strongly advised to officially withdraw rather than “drop out” of school if attendance must cease due to unforeseen circumstances. To officially withdraw, undergraduate students must contact the Registrar's Office. Graduate students contact Graduate Admissions & Records.
In addition, withdrawing from the University affects the Satisfactory Academic Progress standard and may affect the future receipt of federal aid.
Prior to withdrawing or otherwise ceasing to attend classes, students should contact the Office of Student Financial Services to determine the potential impact of the withdrawal.
SATISFACTORY ACADEMIC PROGRESS (Back to Menu)
In order to receive federal financial aid (Title IV) a student must be making Satisfactory Academic Progress. In the evaluation process, all grades of W (Withdrawn), I (Incomplete), IP (In Progress) and dropped courses after the drop/add period will be counted as hours attempted but not passed. Repeated courses will count as hours attempted.
NOTE REGARDING REPEATED COURSES - A student may receive federal aid for repeating a passed course only one time.
Historical Evaluation - Determination of eligibility will be based on a historical evaluation of all hours attempted (UM and transfer hours) as well as the student’s UM grade point average.
Transfer Hours - All hours accepted for transfer credit by the University will be considered as part of the time frame and determination of grade level.
Qualitative - Undergraduates
The following minimum standard must be met:
Credit hours completed Minimum GPA
0-29 1.50
30-59 1.70
60-89 1.90
90 + 2.00
Several scholarships require a higher minimum GPA than those required for satisfactory progress.
Graduate students must maintain the required GPA for the program of study.
Students who are suspended from the University for academic reasons are not considered to be making Satisfactory Academic Progress.
Quantitative - Students must average passing 67% of all hours attempted overall.
Time frame - Students may receive aid up to 150% of the number of credit hours required for completion of the degree.
Appeals Procedure - Students may appeal to the Office of Student Financial Services for an exception to be made based upon mitigating circumstances. Such appeals must be submitted on the appeal form. Include such documentation as appropriate to support the claim of mitigating circumstances. If it is not mathematically possible to regain eligibility in one semester, students must meet with their dean or advisor to prepare and submit an academic plan. Decisions regarding the appeal will be made by designated staff in the Office of Student Financial Services. Students will be notified of the decision through ForUM email.
