Student Financial Aid

Download as PDF
Policies and Regulations
Cost

Student Financial Aid

Converse University participates in both federal and state loan programs which are available to graduate students who are enrolled at least half-time (minimum of six credits; students enrolling in less than six credits are not eligible for aid). To apply, a student must complete the Free Application for Federal Student Aid (FAFSA) every year. The FAFSA covers the fall semester, Jan term, spring semester, and subsequent summer semester(s). For MFA’s, the application covers summer/fall and Jan/spring semesters. The address for FAFSA on the Web is https://studentaid.gov/. The student should apply for an FSA User ID (at the same website) prior to starting FAFSA on the Web so that the application can be signed electronically and tax information can be transferred from the IRS. Converse’s Title IV school code is 003431.

Communication with Students

Communications from the Student Financial Aid Office will be sent to the email address listed on the FAFSA and/or the Converse email account. To ensure you receive all communication from the Student Financial Aid Office, please remember to let us know of any mailing address or email address change. The Student Financial Aid Office staff is here to assist you with any questions you may have. You may call us at (864) 596-9019 or email FINANCIALAID@CONVERSE.EDU.

Student Eligibility Requirements

A student must meet the following eligibility requirements to receive federal assistance:

  • Be enrolled or accepted for enrollment in an eligible program, and
  • Be a regular degree-seeking student, and
  • Have a high school diploma or GED, and
  • Be a S. citizen or an eligible non-citizen, and
  • Not be a member of a religious community that directs the program of student or provides maintenance (except for unsubsidized Direct Loans), and
  • Be registered with the Selective Service (males only), and
  • Not be in default on a federal student loan borrowed for attendance at any institution, and
  • Not have borrowed in excess of federal loan limits, and
  • Not owe a repayment on a federal grant or scholarship received for attendance at any institution, and
  • Maintain satisfactory academic progress, and
  • Not be enrolled concurrently in an elementary or secondary school, and
  • Provide a valid social security

Eligible Courses, Enrollment Status and Repeated Courses Enrollment status can only consist of those courses required for graduation or as a prerequisite for courses required in the program. Audited classes will not be considered in determining a student’s enrollment status. For federal aid programs only, once a student has completed a course two times, that course cannot count in the enrollment status.

The amount in the original award notification is based on half-time enrollment (minimum of 6 credit hours per semester). If you enroll during the Jan term, the credit hours you take will be added to any Spring credit hours to determine your enrollment status for the Spring semester. Any anticipated aid you have for the Spring semester can be used to cover your costs for the Jan term, and any resulting credit balance will be refunded according to the refund schedule. All the terms in a summer semester are combined to determine the enrollment status for the summer semester.

Summer Aid

Students do not have to complete another FAFSA just for summer if they have already applied for the previous award year. If a student begins classes during a summer semester, he or she must complete the FAFSA for the current award year and complete the FAFSA for the next award year which begins with the fall semester. To be considered for aid during a summer semester, the student must complete a Summer Application for Financial Aid.

If during the previous fall and spring semesters the student borrowed the maximum annual loan limit ($20,500), he or she will not have any Federal Direct Unsubsidized Loan eligibility. Students who have exhausted the annual maximum may apply for the Graduate PLUS Loan. This is a credit-based loan subject to approval by the U.S. Department of Education. Students must apply online using their FSA User ID at https://studentaid.gov/

Satisfactory Academic Progress (SAP)

Students receiving financial assistance through a federal program must be making satisfactory academic progress toward a degree. The Student Financial Aid Office must monitor the progress of all students to ensure that they are making satisfactory progress toward completion of their program in a reasonable period of time. This policy is in addition to the academic standards required by the University. The cumulative review determines the student’s eligibility for financial assistance based on his or her academic history. Whether the student has received financial assistance previously is not a factor in determining eligibility. A student’s SAP status will be evaluated each year when the initial Free Application for Federal Student Aid (FAFSA) is received and then at the end of an academic year (after spring semester grades are posted) in which the student attended.

Qualitative Standard (Completion Rate and Grade Point Average) For graduate students, the minimum completion rate requires a student to earn at least 80% of the cumulative credit hours attempted.

  • Graduate students must maintain a cumulative GPA of 0 or better at the end of each evaluation period.
  • Courses with grades of F, W and I are not considered completed courses, but count toward attempted
  • Students are placed on financial aid suspension if the completion rate and/or the cumulative GPA fall below the minimum requirements. To reestablish eligibility, a student must have an approved appeal and be placed on financial aid probation. (See Appeals below.)

Quantitative Standard (Length of Eligibility)

  • Students may receive financial aid for 150% of the published length of the program of study.
  • Graduate students who have attempted 150% of the published required hours of their program of study will be placed on financial aid suspension, even if they have remaining credits to earn toward their degree program.
  • Transfer hours are added to the total hours attempted at Converse to assess the length of
  • A student may repeat a course, but repetitions will count toward the length of eligibility.
  • A student who completes the academic requirements for a program but does not yet have the degree is not eligible for additional financial aid funds for that program.
  • Once the maximum number of hours is attempted, a student is placed on financial aid
  • To reestablish eligibility, a student must have an approved appeal and be placed on financial aid probation. (See Appeals below.)

Appeals

  • Appeals for suspension of financial aid are reviewed by the Financial Aid Appeals
  • The number of appeals will be limited to two (2) per student and forms may be obtained from the Student Financial Aid Office.
  • Appeals must include an academic plan signed by the Dean of Graduate Studies detailing the requirements the student must meet to ensure SAP standards are met by a specific time or to ensure the student Appeals for length of eligibility should include the remaining classes needed to graduate and an anticipated graduation date.
  • Appeals also must include an explanation from the student of why satisfactory progress was not made and what has changed that will make it possible to meet standards. Examples of acceptable extenuating circumstances include prolonged hospitalization during the academic year, death in the family during the academic year, change in work hours that conflicted with the class schedule during the academic year or other extenuating circumstances directly affecting academic performance.
  • If the Committee determines that justifiable evidence of extenuating circumstances exists, a student may receive an extension of financial aid eligibility and be placed on financial aid

Financial Aid Probation

  • During the probationary period, a student must take at least 6 credit hours, complete 100% of the attempted hours, have at least a 3.0 term GPA and follow the academic plan. If a student does not meet these stipulations, he or she will be placed on financial aid suspension. (See Suspension for Failing to Meet Probationary Stipulations )
  • If a student meets the probationary stipulations but has a minimum cumulative GPA or a completion rate that does not meet minimum requirements, he or she will remain on financial aid probation and must continue to meet probationary stipulations and follow the academic
  • If a student meets the probationary stipulations, has a minimum cumulative GPA and a completion rate that meets minimum requirements and has not attempted 150% of the hours required to graduate, he or she will be removed from financial aid probation and must continue to meet the SAP policy.

Suspension for Failing to Meet Probationary Stipulations

  • To reestablish eligibility a student must submit and have an approved appeal after completing a semester at Converse University without financial During the semester attended without financial assistance, a student must take at least 6 credit hours, complete 100% of the attempted hours and have at least a 3.0 term GPA.
  • Exceptions to this policy will only be allowed if the student encountered some type of extenuating circumstance during the probationary period that hindered him or her from meeting the
  • Examples of acceptable extenuating circumstances include: prolonged hospitalization during the probationary period, death in the family during the probationary period, change in work hours that conflicted with the class schedule during the probationary period or other extenuating circumstances directly affecting academic performance. Because a student is aware prior to the probationary period that he or she must meet the stipulations, extenuating circumstances do not include being a single parent or working full-time while attending
  • Students are advised to solve difficulties prior to registering for a probationary period.

Sources of Financial Aid

(Funding for programs is contingent on federal and state approval. These guidelines may not be inclusive of all eligibility criteria and are subject to change. To apply you must complete the Free Application for Federal Student Aid (FAFSA)

Federal Direct Unsubsidized Loan

An Unsubsidized Direct Loan is not awarded on the basis of financial need. The student will be charged interest from the time the loan is disbursed until it is paid in full. If interest is allowed to accumulate, it will be capitalized which means the interest will be added to the principal amount. Then interest will be charged based on this higher amount. Capitalization will increase the amount that must be repaid. If the student chooses to pay the interest as it accumulates, loan payments will cost less.

A student must be enrolled at least half-time during each semester of the loan period. Repayment begins six months after graduating or dropping below half-time enrollment. This six month period is referred to as a grace period.

The Student Financial Aid Office will counsel students as to the types of loans for which they are eligible and as to the amount they may borrow. Before a loan is available, the student must complete an online entrance loan counseling session and sign a Master Promissory Note (MPN).

Federal Direct Grad PLUS

To receive a Direct Grad PLUS, you must be enrolled at least half-time and meet the general eligibility requirements for federal student aid.

A credit check will be performed during the application process. If you have an adverse credit history, you may still receive a Direct PLUS Loan by obtaining an endorser who does not have an adverse credit history or documenting to the U.S. Department of Education’s satisfaction extenuating circumstances relating to your adverse credit history. If you are interested in a Grad PLUS, you must apply at https://studentaid.gov/understand-aid/types/loans/plus/grad

Teacher Education Assistance for College and Higher Education Grant Program (TEACH)

The TEACH Grant Program provides grants to students who intend to teach full-time in high-need subject areas at a public elementary or secondary school that serves students from low-income families. In exchange for receiving a TEACH Grant, the student must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. The student must also teach at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. If the student fails to fulfill this obligation, all amounts of the TEACH Grant received will be converted to a Federal Direct Unsubsidized Loan. Interest will be charged from the date the original grant was disbursed, and the student must repay this loan to the U.S. Department of Education.

S.C. Teachers Loan Program (SCTL)

This loan is available to South Carolina students who plan to teach in the public sector in South Carolina upon graduation from University. Students must meet the academic criteria of the program, and financial need is not a factor. For additional information visit www.scstudentloan.org.