Please review the Path to Financial Aid Success which can also be found by accessing ISIS and navigating to Student Center --> Finances --> Required Reading. The Path to Financial Aid Success includes the links on Loan Processing Information, Understanding Terms on the Award Notice, Work Study, and Terms and Conditions.

The amount of your aid has been computed to the maximum amount possible in accordance with your need analysis and the availability of funds.  In the event that this amount does not cover all of your costs, you will need to make arrangements to pay the balance from some other source.  Also, this aid may not be used for deposits, physical examinations or any other fees that you must pay prior to registration. The University has no obligation to make this aid available to you until you are properly admitted and enrolled for the number of hours specified on your award.  It is your responsibility to notify the Office of Financial Aid of any change in your enrollment.  Changes in enrollment may reduce or eliminate any, or a portion of, financial aid awarded.  Eligibility for financial aid must be re-established each year.

The amounts and types of your aid were made on the basis of the financial aid information given in your application. The University reserves the right to adjust your award if conditions are found to be different from those stated in your application. Also, the University reserves the right to adjust your award if (1) your family conditions change during the year, (2) you receive financial support from another source other than the aid listed on your award letter, (3) you do not maintain the specified hours indicated on your award notice, or (4) human or computer error was made while determining the award.

Students are responsible for notifying the Office of Financial Aid on any resources they receive that are not indicated on the award notice. Examples of these resources may include, but are not limited to, graduate asssistantships, resident assistantships, fellowships, and outside scholarships. Failure to report these sources could result in a reduction of your financial aid after funds have been disbursed.

One-half of the total aid for the school year will be made available to you for the fall semester and one-half for the spring semester.  If you do not enroll for the fall semester your award will be canceled for the entire year unless you specifically request that your aid for the spring be continued.  This will be done if funds are available for the spring semester.

Financial aid offered as Work-Study is an estimation of the amount you may expect to earn during the term(s) indicated. Students are paid bi-weekly, only for actual hours worked.  If Work-Study is a part of your award, the University will make every reasonable effort to place you in a job.  The awarding of Work-Study does not automatically guarantee that you will have a job. If we are unable to locate a job for you, the amount of your Work-Study award may be changed to some other type of aid depending upon the availability of funds.  However, if employment is found for you and you choose not to work for any reason, the University will assume no obligation to substitute other types of aid.

The University reserves the right to ensure that all your financial obligations to the University are paid before cash disbursements are made.

ACADEMIC SCHOLARSHIP RECIPIENTS: For renewal and pertinent information, please refer to your renewal criteria previously sent to you or contact the Office of Academic Scholarships at 479-575-4464.

REFUND AND REPAYMENT POLICY: If a student withdraws from the University, all or part of financial aid awards may have to be repaid. If withdrawal occurs before classes, all of the financial aid awarded must be returned. If withdrawal occurs after classes begin, a proportion of the aid must be repaid after arrangements are made with the Office of Financial Aid.  If hours are reduced from those originally stated in the financial aid application, some monies may have to be repaid. Please contact the Office of Financial Aid if this situation is contemplated or occurs. Future eligibility of aid may be suspended if arrangements for repayment are not made with the consent of the Office of Financial Aid and the Treasurer's Office. The calculation of your repayment will be made on the basis of University and/or federal regulations at the time of your withdrawal.  Refunds from the University of Arkansas, due to student withdrawal, become the property of the loan, grant, and/or scholarship fund from which aid was awarded.

SATISFACTORY ACADEMIC PROGRESS

For Financial Aid Applicants:  Federal regulation requires that a student must be making satisfactory academic progress regardless of whether he or she has previously received Title IV aid.

All students enrolled at the University of Arkansas who receive financial aid through the Title IV Assistance Programs must meet the satisfactory academic progress requirements as defined below in order to be eligible for further aid.

Satisfactory academic progress is deemed to have been made by any undergraduate student who meets both the quantitative and qualitative requirements indicated below.

Quantitative Requirements: There are two quantitative requirements that the student must meet in order to remain eligible to apply for financial assistance.  First, the student must pass, at a minimum, 67% of the credits attempted while attending the University. Also, the student will remain eligible to apply for aid as long as the number of credits attempted is not more than 150% of the number of credits required for the student's degree.

A transfer student may have earned credits at another school that will count toward his or her degree at the University of Arkansas. Only transfer credits that apply to the student's degree will count as part of the 150% maximum.

The determination of each student's meeting the quantitative requirements for satisfactory academic progress will be made annually following the conclusion of the spring semester. If a student fails to pass at least 67% of the credits attempted or has attempted more than 150% of the number of credits required for graduation, then the student must appeal for reinstatement of financial aid eligibility.

Qualitative Requirements:  A student is deemed to have met the qualitative requirements for satisfactory academic progress for financial aid purposes provided the student's academic status is not one of Academic Dismissal.

Graduate and Law Students:  Satisfactory academic progress for graduate and law students is determined as described above with one exception. In order to meet the quantitative requirement, the student must pass with at least a grade of C, at a minimum, 67% of the credits attempted while attending the University at the graduate level.

The effective date of this policy is May 14, 2001. Revised 12/01.