Federal Financial Aid Eligibility
Students accepted for admission may apply for financial assistance. Phoenix Seminary awards assistance on the basis of need, regardless of sex, age, disability, creed, or national origin of the applicant. Need is defined as the difference between a student’s cost of education and the amount the family can afford to pay (the Expected Family Contribution). To receive financial assistance the student must:
- Be a U.S. citizen or an eligible non-citizen;
- Have a valid Social Security Number;
- Be registered with Selective Services if a male and between the ages of 18 and 25;
- Have financial need;
- Not be in default or owe an overpayment on any Title IV Program;
- Be enrolled in an eligible program;
- Maintain Satisfactory Academic Progress in accordance with the school’s standards.
Satisfactory Academic Progress
In order to maintain financial aid eligibility, students receiving VA or Title IV benefits are required to maintain Satisfactory Academic Progress [SAP]. Maintaining SAP is both a qualitative and quantitative measurement.
Qualitative measure–A cumulative grade point average of at least 2.0 on a 4.0 scale in all master’s-level degree programs must be maintained. Should the cumulative GPA drop below this level, there is a two-semester probationary period to attain the GPA minimum.
Quantitative measure–In addition, a student must satisfactorily complete:
15 credit hours per academic year (fall- spring-summer) in the MDiv or MABL degree program.
For financial aid eligibility, a leave of absence [LOA] does not extend the time period allowed for degree program completion. Rather, the time limit is calculated from the date of initial matriculation (which is the first semester a student enrolled for classes). The Financial Aid Office will evaluate SAP at the end of each payment period. If satisfactory academic progress is not met in a given semester, a Financial Aid Warning will be issued.
Financial Aid Warning
A student who fails to meet SAP at the end of a payment period may continue to receive Title IV aid for one payment period. If the student is not meeting SAP at the end of the Financial Aid Warning term, the student will be ineligible for financial aid until it is determined that SAP is being met.
Financial Aid Probation
If a student is not meeting SAP after the Financial Aid Warning term and becomes ineligible for financial aid, the student may file an Appeal. If the appeal is approved, the student will be placed on Financial Aid Probation and furnished with an academic plan for one payment period. If the student is not meeting SAP at the end of this probation period, the student will be ineligible for financial aid until it is determined that SAP is being met.
Reinstatement of Financial Aid
At the end of the probation period, the financial aid office will review the student’s academic progress. If it is determined that SAP is being met, the student’s eligibility for financial aid will be reinstated. The financial aid office will notify the student in writing of the reinstatement within two weeks of this determination.
The Appeal Process for Unsatisfactory Academic Progress
A student determined to be ineligible for financial aid because of unsatisfactory
academic progress may appeal in writing to the Academic Administrative Committee and the Administrator of Financial Aid, indicating reasons why the minimum academic requirements were not met and why aid should not be terminated.
The committee’s decision concerning the appeal will determine whether the student’s eligibility to receive financial aid will be reinstated. The student will be notified of the decision within three weeks of receiving the appeal. The decision made by the committee is final.
Any student who has been provisionally admitted due to outstanding required official transcripts or other required documents will be ineligible for financial aid until the provisional condition(s) has been satisfied.
Academic Probationary Admittance
Any student who has been admitted with an academic probationary requirement will be ineligible for financial aid until the requirement has been satisfied.
Students with Delinquent or Defaulted Student Loans
Delinquent Student Loans
Students who are in a delinquent status on their student loans will be ineligible to register for classes until the delinquency is paid in full and the loan becomes current. If a student is enrolled less than half time, is no longer in the loan’s grace period, is in a repayment status, and becomes delinquent within a semester, they must bring such loans current within the seminary’s established deadline. Failure to bring the loan(s) current may result in the student being withdrawn from their classes.
If the delinquent balance has been paid in full, the student must provide to the Financial Aid Office (FAO) a copy of the statement from the lender showing a zero balance and an acknowledgment that the loan is in a current status.
If a payment plan agreement for the outstanding balance has been contracted between the borrower (student) and the lender, the student must provide to the FAO a copy of this agreement from the loan servicer. Once this agreement has been received by the FAO, and if the student is current in meeting the requirements of the agreement, the student will become eligible to register for the current semester.
The student will be eligible to register in subsequent semesters provided updated statements are submitted to the FAO showing that on-time payments have been applied to the balance without further issue. This procedure will remain in effect until the outstanding balance has been paid in full.
Failure to comply with this policy will cause the student to lose eligibility to register in the current or subsequent semesters, or to remain enrolled in the current semester. Any student who is delinquent on a student loan will be ineligible to receive any Seminary financial aid via loans or scholarships until all loan issues have been resolved.
Defaulted Student Loans
Students who are in default on any student loan will be ineligible to register for classes until the the default issue has been resolved with the loan servicer/lender, and the status of the loan on the National Student Loan Data System (NSLDS) has been updated to reflect the resolution.
Upon resolution of the defaulted loan(s), the student must provide to the FAO a letter from the loan servicer that their loan(s) are no longer in default. Failure to comply with this policy will cause the student to lose eligibility to register in the current or subsequent semesters. Any student who is in default on a student loan will be ineligible to receive any Seminary financial aid via loans or scholarships until all loan issues have been resolved and any outstanding balance has been paid in full.
Federal Financial Aid Verification
A student may be selected for verification by either the Department of Education or Phoenix Seminary. The verification process requires Phoenix Seminary to validate the information that has been provided. If selected, the student may be asked to verify any of the following information: adjusted gross income, federal income tax paid, household size, the number of family members enrolled in post-secondary education at least half-time, and certain untaxed income and benefits received. All discrepancies must be resolved.