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BCU Financial Aid
Brochure for Returners TABLE OF CONTENTS (click on links below to move to a desired position) Types of Financial
Aid Federal Pell Grant The Federal Pell Grant provides financial assistance that does not have to be repaid by eligible students. Application is made by completing the Free Application for Federal Student Aid (FAFSA). The Federal Pell Grant program provides grants to full-time and part-time undergraduate students and may be used at any eligible college or university. The award may vary according to the number of credit hours you are enrolled. You must be enrolled for at least eight hours per term to receive a full award. The maximum award for the 2007-2008 academic year is $4,310. Federal Pell Grant eligibility is based on need and the funding level approved by Congress. Iowa Tuition Grant (ITG) The ITG is available to qualified Iowa residents who are enrolled in at least three credit hours at Briar Cliff University. The ITG is based on need, and students must have a FAFSA at the federal processors by July 1, 2007 to be considered for this award. For a full time student, the maximum ITG is $4,000 for the 2007-2008 academic year. In the event that available state funds are insufficient to pay the full amount of each approved grant, the Iowa College Student Aid Commission has the authority to administratively reduce the award. Federal Supplemental Education Opportunity Grants The FSEOG program is for students who show exceptional need, Pell Grant eligible and non-resident on campus students have high priority. BRIAR CLIFF UNIVERSITY SCHOLARSHIPS Academic Achievement Award The Academic Achievement award was based on your ACT/SAT scores and high
school grade point average. To renew this award, you must have a 2.0
cumulative GPA and complete 24 hours each year. This is a 4-year award. This
award is adjusted for resident or commuter. If awarded as an on-campus
student and the student moves off campus, the award will be adjusted to the
off-campus amount. Students must be full-time, at least eight hours each
term, to receive funding. This award is given to a student and his/her sibling who attends Briar Cliff at the same time. This award is $500 and can be renewed up to four years if the students are full-time day students and both enrolled at the same time. Art/Music/Theatre Scholarship These awards can be renewed up to 4 years based on recommendation from those departments. Must be full-time, at least eight hours each term to receive funding. Transfer Scholarship This scholarship is renewable if students meet Satisfactory Academic Progress Standards. Scholarship ranges from $1,000 to $5,000. Recipients must maintain full-time status. Alumni Scholarship This award is given to students who have a parent that graduated from Briar Cliff University. This $1,000 award can be renewed up to four years if the student is a full-time day student. Athletic Scholarships Briar Cliff offers athletic scholarships in the following sports: Men’s and Women’s Basketball, Cross Country, Golf, Soccer, Track, Men’s Baseball, Football, Wrestling, Women’s Softball, Volleyball and Tennis. Athletes must maintain a 2.0 cumulative grade point average to retain their athletic awards each term. Athletic awards can be renewed each academic year if students meet guidelines set by each coach. Recipients must maintain full-time status. Richard Doyle Leadership To renew this award you must have participated in the leadership program and were awarded the scholarship the prior year. Connection Scholarship This is a $500 scholarship exclusively for high school seniors and new transfer students who are from Northwest Iowa and live within the boundaries of the Sioux City Diocese and belong to a Catholic Parish. This award is automatically renewed for up to four years if the student is a full-time day student. BC Grant Awarded to students with demonstrated financial need and have completed the FAFSA. Awards vary based on need. Students who live on campus have highest priority. Students who have received this award and move off-campus will lose this grant. * All Briar Cliff University scholarships are for a maximum of four
years. Only students who are charged the full-time tuition rate are
considered for these programs. OUTSIDE SOURCES OF FINANCIAL ASSISTANCE Any financial assistance that you may receive from sources not listed on your aid award, such as a scholarship from a local or private organization, military benefits, vocational rehabilitation benefits, employer reimbursement, etc., must be reported to the Financial Aid Office. Please complete the Outside Scholarship Report Form. When notifying us of an outside award, please list the name of the award or donor, the amount of the award, and whether or not the award is renewable. Financial assistance awarded through the University is subject to change upon receipt of other aid. We will attempt to adjust your award in the manner that is most favorable to you while maintaining compliance with federal and state regulations. Work-Study Program Briar Cliff’s Work-Study Program allows eligible students to earn up to the amount shown on the financial aid award at a part-time job on or off campus. Awards are based on calculated need as determined by information provided on the FAFSA. Need-based employment is funded by the Federal Work-Study Program. Employment earnings are paid twice each month directly to the student for hours worked and DO NOT show as a credit on the tuition bill. Briar Cliff will host a job fair one day prior to the first day of the academic year. Students can sign up and visit with interested employers at that time. Federal Stafford Loans Subsidized and Unsubsidized Stafford loans are provided by a participating lender. The interest rate is a fixed rate of 6.80%. Lenders may charge a 2% origination fee that is deducted from the amount you borrow. Briar Cliff University's preferred lenders pay this fee on behalf of their borrowers; therefore, you receive more money upfront when using one of these lenders. The Federal Stafford Loan Program is administered by federal and state governments. You may be eligible to borrow up to $3,500 per year as a freshman, $4,500 as a sophomore, and $5,500 each year as a junior or senior. Independent students may have expanded borrowing capabilities based on cost of attendance and other financial aid received. The Federal Stafford Loan Program considers cost of attendance and other financial aid received. The Federal Stafford Loan Program includes both subsidized (need-based) and unsubsidized (not based on financial need) loans. You may have either loan type or a combination on your award letter. During the time you are enrolled on at least a half-time basis and six months thereafter, the Federal government will pay the interest on your Subsidized Federal Stafford Loans. Principal and interest payment begins after the six-month grace period. Unsubsidized Federal Stafford Loan interest will accrue during the in-school periods. While you are a student you have the option of paying the interest or adding the interest to the principal of your loan. If you are borrowing a Federal Stafford Loan for the first time at Briar Cliff University, you must have a Master Promissory Note on file and complete an entrance interview prior to the release of funds. This interview should be done prior to the first day of classes. It can be done in person in the Financial Aid office or online at http://mapping-your-future.org. An exit interview is also required before you leave the University. TUITION ROOM BOARD FEES * Charges used to estimate direct costs. In addition to direct costs (tuition, room/board, if applicable, and fees) you should allow for the following indirect expenses: Books/Supplies: These expenses vary each term and are largely dependent upon each student’s individual need and program of study. On average, full-time students spend approximately $825/year on books and supplies. Personal/Transportation: Personal costs vary according to circumstances and spending habits. For financial aid purposes, Briar Cliff estimates personal costs to be $1935 for the academic year. Transportation costs vary depending on whether you live on or off campus. For financial aid purposes, Briar Cliff estimates transportation costs to be $975 if you live on campus and $1275 if you live off campus. Off-campus Room/Board: Costs for off-campus room and board
vary depending upon dependency status and type of living arrangements (i.e.,
with parent, in an apartment, etc.). Typical costs range from $2,850 to
approximately $5,709 for the nine-month academic year. Payment Information Additional Financing Iowa Partnership Program Partnership Loan Program Other Alternative Loans Federal Parent Loan for Undergraduate Students (PLUS) Federal PLUS Loan Information Payment Plan Home Equity Loan Federal Tax Credit/Programs During the first week of each term, called “validation week,” you will have an opportunity to change your registration or room/board plan with no financial penalty. After validation week, there will be no adjustment to tuition or financial aid if you drop a class or change to a different room/board plan. Students who completely withdraw from the university may be allowed a refund on tuition, fees, room/board (if applicable). Federal and state regulations require that all or a portion of the refund be returned to the appropriate government aid programs. Refunds on behalf of the federal aid recipients must be returned in the following order: Federal Unsubsidized Stafford Loans, Federal Subsidized Stafford Loans, Federal Perkins Loan, Federal PLUS, Federal Pell Grant, Federal SEOG, other Title IV aid, Briar Cliff financial aid, State-funded aid, other aid, student. For a complete copy of Briar Cliff’s refund policy, please review the Student Handbook or contact the Financial Aid Office. SATISFACTORY ACADEMIC PROGRESS The Higher Education Act of 1965, as amended, requires that each student maintains satisfactory progress in the course of study the student is pursuing in order to receive Title IV Federal Financial Aid. At Briar Cliff, these standards are also applied to state and institutional programs. Students attending full-time have a maximum of five academic years to complete a program of study at Briar Cliff. Students will only receive state funding for four academic years. If the student’s major requires additional completion time, a fifth year of institutional funding can be allowed by appealing to the financial aid office. Academic Progress will be measured both qualitatively and quantitatively. A minimum grade point average and a minimum number of credit hours completed in the academic year are requirements. Students must earn 70% of their attempted credit hours. Students who do not have the appropriate credit hours will be placed on Financial Aid Probation at the end of the academic year. Students will be allowed a probationary year in which to increase their credit hours earned. Failure to achieve this standard at any point following the probationary year will result in the loss of financial aid eligibility until the student has earned 70% of their attempted hours. Eligibility will terminate when the credit hours required for a specific degree/program are earned or the student has attempted greater than 150 percent of the credit hours required for a specific degree/program. Please note only one warning will be given to a student for either duration of eligibility or grade point average deficiencies. Grade Point Average (GPA) Requirements Students participating in athletics must meet the guidelines listed above to retain athletic scholarships. Graduate students are expected to achieve a grade of “B” or better in each course. Students whose GPA falls below 3.0 at any time during the program will be placed on academic probation and are subject to dismissal from the program if the GPA does not return to a 3.0 at the end of the next term of coursework. Transfer Students Repeated Coursework Non-credit Coursework In the event that a student fails to successfully complete courses at the
minimum level as outlined, the student will be placed on Financial Aid
Probation. A student in this category may receive financial aid for one
additional term. If the student does not meet the minimum levels by the end
of the probationary term, the student is considered to be making
unsatisfactory progress and is placed on Financial Aid Suspension. Financial
Aid Suspension means the termination of all financial aid except private
Alternative Loans. The Financial Aid Office evaluates the progress of each
student according to these standards on an annual basis. If a student is
placed on Financial Aid Suspension, that student will have the opportunity
to appeal the suspension. A student will receive notification of suspension
and an Appeals Document. The appeals committee will review the student’s
request and notify the student of its decision in writing. You are responsible for: You have the right to: Briar Cliff’s Financial Aid Office has staff members who can assist you in understanding your financial aid, budgeting your resources, and loan management. If you would like some assistance, please contact our counselors toll free at 1-800-662-3303, extension 5200, or locally at 712-279-5200 to schedule an appointment. |
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