FINANCIAL AID AND SCHOLARSHIPS FINANCIAL AID AND SCHOLARSHIPS Financial Aid www.uafortsmith.edu/Finaid (479) 788-7090 The financial aid office provides a comprehensive program that includes federal grants, loans, work study, and all financial aid programs administered by the Arkansas Department of Higher Education. The staff is dedicated to assisting qualified students in obtaining the financial resources necessary to cover educational expenses. Students should refer to the website www.uafortsmith.edu/Finaid for specific listings and selection criteria. Applying Financial Aid Applicants must complete the Free Application for Federal Student Aid (FAFSA) to apply for federal financial aid programs. This information is also used for various State financial aid programs. As soon as the family income tax forms are completed each year, a FAFSA application should be initiated. There is no fee for the application process. The electronic application is available on the Department of Education website, www.fafsa.ed.gov. This is the fastest and easiest way to apply. You can contact your high school guidance office or UA Fort Smith’s Financial Aid Office for additional information about completing the application. Once UA Fort Smith receives the processed application from the Department of Education, the student may be contacted by the financial aid office for any additional required information. After all requested documentation has been submitted, processing by the Financial Aid Office will be completed within approximately two to three weeks. The student will then be notified of his or her financial aid eligibility through a financial aid award letter. Once students are enrolled they should check their LionsLink account to view and accept their financial aid award. Financial Aid disbursement for most programs will take place after the 11th day of the standard fall/spring term. In order to be eligible for the Federal Pell Grant, a student must be enrolled in classes prior to the disbursement date. Federal aid applications should be submitted prior to July 1st and as soon as possible after the previous year’s taxes are completed. Applications for grant/merit aid (other than Federal Pell Grants) received after the deadline will be considered only if money is available for funding from the respective program. Eligibility Financial Aid To receive financial assistance, a student must be admitted to UA Fort Smith and must be seeking a bachelor’s degree, an associate degree, or an eligible technical certificate. Concurrent high school students, students not seeking a degree and students admitted under the status of lifelong learner or transient student, are not eligible to receive financial aid. In general, a student must be enrolled in a minimum of six college credit hours to receive financial aid; however, it is possible for students enrolled in less than six hours to receive assistance through the Federal Pell Grant Program. The Pell Grant is adjusted depending on the student’s enrollment status: one to five hours is less than half-time, six to eight hours is half-time, nine to 11 hours is three-quarter-time, and 12 hours or more is full-time for the federal program. Students applying for financial aid must demonstrate satisfactory academic progress in the course of study being pursued. See the “Satisfactory Academic Progress” discussion below. Students who fail to meet these minimum academic standards lose the ability to receive assistance through the federal and state financial aid programs. SATISFACTORY ACADEMIC PROGRESS FOR FINANCIAL AID APPLICANTS Students applying for assistance through the Federal Pell Grant, Federal SEOG, Federal Work-Study, Federal Subsidized Stafford Loan, and Federal Parent PLUS Loan programs are required to meet three separate requirements to maintain financial aid eligibility at UA Fort Smith. First, students are required to maintain a minimum grade point average. Second, students are required to complete (pass) at least 67 percent of the credit hours attempted each academic year. Third, students must complete the requirements for either an associate degree or a bachelor’s degree within a maximum number of credit hours attempted. These three requirements are summarized below. Failure to meet these minimum academic standards will result in the loss of financial aid eligibility. Requirements Minimum GPA 2.00 Percentage of attempted hours to be completed each academic year 67 Maximum attempted hours allowed from all institutions for earning a degree or certificate. 186 hours – First bachelor’s degree 240 hours – Second bachelor’s degree 125 hours – AAS Dental Hygiene 115 hours – AAS Nursing & Radiography 98 hours – First associate degree 138 hours – Second associate degree 87 hours – One-year PN program 45 hours – One-year certificate program Satisfactory academic progress is calculated annually. At the end of the Spring term, students must have completed at least 67% of all courses enrolled in during Fall and Spring semesters to remain eligible for federal financial aid. For students on financial aid probation, progress is checked at the end of each term of attendance. Students not meeting the requirements shown above will be placed on financial aid probation for the next term of enrollment. While on probation, students may continue to receive financial aid. Financial aid probation will be required for any student not meeting the requirements shown above. This is a warning status, and a student on probation may continue to receive financial aid. Financial aid suspension occurs when a student on financial aid probation fails to meet the minimum academic requirements of the probation. Financial aid suspension means the student is not eligible to receive financial assistance for at least one semester. An appeal process is available to a student who is placed on financial aid suspension if extenuating circumstances exist that impaired the student’s ability to perform well academically. Satisfactory academic progress appeal forms are available in the Financial Aid Office. ADDITIONAL FINANCIAL AID ELIGIBILITY REQUIREMENTS Fulfillment of specified citizenship requirements and demonstration of financial need are requirements for federal financial aid programs. A student must not owe a repayment on a Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, or state grant and must not be in default on a Federal Perkins Loan, a Federal Stafford Loan, or a Federal PLUS loan received at UA Fort Smith or any other school. Students must submit all requested documents for financial aid to the Financial Aid Office before the end of the enrollment period or the last day of attendance, whichever occurs first. Students applying for financial aid must provide a Social Security number on the Free Application for Federal Student Aid (FAFSA). Students who cannot provide a social security number are not eligible for federal financial aid. Students must apply for financial assistance each year as aid is not automatically renewed. Students should apply well ahead of the published guidelines. Student Loans UA Fort Smith participates in the Federal Stafford Loan Program and the Federal PLUS Loan Program. Students and/or parents who are interested in applying for student loans to assist in the payment of educational expenses begin the student loan process by first completing the Free Application for Federal Student Aid (FAFSA). When completing the FAFSA, the student should check the “Student Loan” box on Question 26; “What types of student aid interest you?” After the FAFSA has been processed by the Financial Aid Office, students will be notified of the amounts they can borrow through student loans on their financial aid award letter.The award letter will also contain instructions 26 on using LionsLink to accept, cancel, or reduce the amount of their loan, and on choosing a lender. First- time borrowers are required to complete a Student Loan Entrance Counseling session and sign a Master Promissory Note (MPN) via the internet, at www.opennet.salliemae.com. Students will then receive an e-mail, or letter if no e-mail address was provided, from their chosen lender with instructions to complete the above steps. Students without internet access can complete an MPN in paper format by requesting the form from the Financial Aid Office. Borrowers are not required to sign a new MPN each year. It should be noted that loan funds will not be disbursed if either the MPN or Entrance Counseling are not completed. Student loans borrowed in subsequent years of attendance beyond the first year are approved electronically by the Financial Aid Office. The borrower is not required to complete a new MPN each year. Federal consumer information regulations require UA Fort Smith to notify students of how to contact the Federal Student Loan Ombudsman’s Office. A student loan ombudsman works with student loan borrowers who need help with their federal student loans. Student loan issues should first be addressed by working with the UA Fort Smith Financial Aid Office or by working with the student loan lender. For unresolved issues, students may contact the Federal Student Aid (FSA) Ombudsman as follows: Telephone (877) 557-2575 (toll-free) or (202) 377-3800 (direct) Fax (202) 275-0549 E-mail fsaombudsmanoffice@ed.gov Internet www.ombudsman.ed.gov Student Employment Numerous on-campus jobs are available to students attending UA Fort Smith and are coordinated by the UA Fort Smith Financial Aid Office. Students interested in securing part-time positions are encouraged to check with the student employment coordinator in the Financial Aid Office. Students must complete the UA Fort Smith Student Employment Application to be considered for on-campus employment. Students can be employed by one of two programs listed below: Federal Work-Study Program - Students work up to 15 hours per week and are paid the federal minimum wage (currently $6.25 per hour). All student wages are paid by funding received from the federal government. Students must complete the Free Application for Federal Student Aid (FAFSA) to apply for federal work-study positions and must demonstrate financial need. University Work-Study Program - Students work up to 15 hours per week and are paid the federal minimum wage (currently $6.25 per hour). All student wages are paid by UA Fort Smith, not from federal sources. University work-study is not based on financial need. Students are not required to complete the FAFSA to be considered for a position through this program. Hope Lifetime Learning Credits Paying tuition and fees at UA Fort Smith may qualify students or their parents for the Hope or Lifetime Learning credits which are tax credits against federal taxes owed. Hope Tax Credits are available against federal income taxes for qualified tuition and related expenses paid for a student’s first two years of postsecondary education up to a maximum credit of $1,500 per year. The amount of the credit is 100 percent of the first $1,000 of qualified tuition and 50 percent of the next $1,000. It does not apply to room-and-board expenses or cost of books. For educational expenses not eligible for the Hope Tax Credit, the Lifetime Learning Credit may be available. Both credits may be reduced or eliminated based on the income of the student or parents. The Taxpayer Relief Act of 1997 requires the University to provide information concerning student enrollment to the Internal Revenue Service and to the student. The University encourages all students to read the material that has been forwarded to them by the University regarding the Taxpayer Relief Act and consult with a tax advisor as to how these benefits might apply to the student and/or his or her family. Financial Aid Students According to federal regulations, any student applying for federal financial aid who is transferring from another school during the academic year must have their FAFSA information sent to UA Fort Smith. Additionally, all coursework accepted from previous institutions will be used in the determination of satisfactory academic progress. An official transcript from each institution attended is required. The Financial Aid Office will determine if the student has any remaining eligibility for federal and state programs. Eligibility for certain types of financial aid, such as SEOG and work study programs, may be limited based on the availability of funds. 27 Scholarships UA Fort Smith’s prospective and current students have several scholarship opportunities available. In general, scholarships for first-time entering freshmen do not require an application. These students are automatically considered for both University and Foundation scholarships upon receipt of an application for admission, ACT scores and a high school transcript. There are a limited number of prestigious scholarships that require an application. The application for these scholarships is available in September. Scholarships for transfer, current and other potential students are also available. Information on all UA Fort Smith scholarships, including deadlines is available at http://scholarships.uafortsmith.edu. UA Fort Smith scholarships are awarded in varying amounts and are based on distinct criteria, such as academic achievement and potential, talent, major and financial need. Deadlines for scholarships vary and can be seen on the website mentioned above. External scholarships offered by companies, civic groups, churches and other organizations are also available. Scholarship information is posted as it is received from these entities on the scholarship information board, located on the Upper Level of the Smith-Pendergraft Campus Center near the Financial Aid Office and is also posted on the scholarship website mentioned above. Act 1180 of 1999 provides that when a student receives public funds, federal or state, the students total aid awarded can not exceed the cost of attendance. Student financial aid is therefore limited to the cost of attendance. The Financial Aid Office monitors awards to prevent an over award from occurring. Please contact Financial Aid with questions. General UA Fort Smith Foundation scholarships are offered through the generosity of community donors and friends of the University. First-time entering freshmen are automatically considered for all University and Foundation scholarships without an application. All other scholarship applications for the University are also considered for Foundation scholarships. No separate application is required for Foundation scholarships. UA Fort Smith also offers the Chancellor’s Transfer Scholarship to (2) two students who have completed a two-year degree program from Carl Albert State College, Rich Mountain Community College, North Arkansas College, and Northwest Arkansas Community College. Students interested in this scholarship opportunity who meet these criteria must apply at their respective community colleges. Selection of the scholarship recipient is based upon recommendation of the community college. Financial Aid National Guard Members UA Fort Smith participates in both the Federal Tuition Assistance Program (FTA) and the Guard Tuition Incentive Program (GTIP) for those soldiers who are serving as active members of the Arkansas Army National Guard and Arkansas Air National Guard. The FTA program provides assistance for up to 100 percent of the student’s expenses for tuition and fees. The GTIP program offers up to $1,000 per semester. Eligibility information about these programs can be found online at www.arguard.org. U.S. Army Reserve soldiers may also be eligible for FTA. For more information, please contact your unit. In addition to the tuition assistance available through these programs, UA Fort Smith offers a 25 percent tuition waiver to eligible members of the Arkansas Air National Guard. Students must request the 25 percent tuition waiver by contacting the education office at their Guard Unit. Military service veterans and sons, daughters, wives, widows, widowers, and husbands of deceased or 100 percent disabled veterans should contact the veterans certifying official in the Financial Aid Office, Upper Level, Smith-Pendergraft Campus Center. Eligible University students may qualify for the GI Bill, Vocational Rehabilitation, War Orphans, and other types of VA assistance. Students using veterans benefits should be aware of VA regulations governing academic standards. No payment of educational benefits will be made for auditing a course or for a course that is not used in computing graduation requirements. All applications and inquiries should be addressed to the Veterans Affairs Officer, Financial Aid Office, Upper Level, Smith-Pendergraft Campus Center. Complete information about VA requirements and procedures will be provided upon request. 28