[back to top] If on SAP Financial Aid Restriction, you are not eligible to receive Federal, state, or institutional financial aid. The federal guidelines require that a student continues to make healthy progress toward graduating in a timely manner when receiving financial aid. You were denied financial aid because you did not meet the 67% completion rate but have taken additional courses to bring your pace back to 67% or better. The remainder is your financial aid gap i.e., money you will still need to come up with to pay for college. Always talk to Financial Aid before you withdraw from or stop attending class. You don't want to have to keep going in for appointments every time you realize something you should have known about already. These are the top 10 mistakes that cause students to lose financial aid: 1. For example a full-time student that has a Pell grant would lose 50% of their funding if they dropped to ½ time enrollment during this period. You are worried about people working around the financial aid system yet the system actually penalizes you for doing the “right” thing. I know I am still eligible as a single mom and veteran. When students lose financial aid due to lack of academic progress, there are two options available to regain eligibility. How To Get Your Aid Back. Your original school took that need into consideration when creating your offer letter to see how much aid they would give you. Below are some common reasons why students lose their financial aid awards and some tips on how to avoid them. When you applied to the school you likely filed a FAFSA and had them calculate your financial need. Other financial aid could also be affected if you withdraw or stop attending. Will my classes be dropped if my aid doesn't disburse/release by the Last day to drop with a refund? Sure, financial aid is complicated, yet some of these mistakes happen much too often. Her work has appeared in … I just reviewed my award, how will my tuition bill be paid? Some students count on financial aid, including Pell Grants, to pay housing and food while they are in school. Additionally, it may make more sense to withdraw from a class rather than fail it – if the deadline for a “W” has not passed. You may appeal to regain your eligibility for financial aid if you had extenuating circumstances which prevented you from making Satisfactory Academic Progress. For additional information about how the PROMISE Scholarship Program coordinates with other financial aid programs, click here, or contact the West Virginia Higher Education Policy Commission, Division of Financial Aid at (304) 558-4417 or toll free at 1 (877) 987-7664. I have a friend in college who lost it because he didn't complete enough credits, however after a year long period of going to a community college and successfully completing those credits, he … I am going to assume you are a full-time student. If you’ve been placed on financial aid academic probation it can be extremely frustrating, but it’s not the end of your academic career. An increase in your school’s fees or tuition may also cause you to lose your financial aid. Back to Top; I am now meeting SAP standards, so can I get aid? Marriage will usually have a positive impact on your financial aid eligibility if you are under 24 years of age and your spouse does not have high income. No matter what kind of iAd you have, it has been awarded based on your status has full-time or a half-time student. Once you get a request for verification, make sure to acknowledge the request, answer any questions the school might have for you, and get the correct paperwork back to them as soon as possible. When you complete the Federal Application for Federal Student Aid(FAFSA) you will be asked: Have you had a drug conviction for an Is it true that a drug conviction may affect a person’s eligibility for federal student aid? Confirm your schedule and pay tuition & fees. About future student aid eligibility . Federal financial aid can be deferred for up to six or nine months (depending on your loan) until you start taking classes, but be aware that some colleges might not have institutional grants or scholarships available after a gap year. Once they get to college, students on financial aid can’t slack off or they could be out thousands of tuition dollars. Let’s take a look at the next steps you’ll need to take so you can rest easy and get back to your number one priority–finding a new job. If You Lose Financial Aid, Can You Get It Back? If you find that your expenses exceed what you receive in your financial aid package, you cannot request additional financial aid in the middle of the school year. If you can offer any advice, I appreciate it. Reinstatement with an Appeal. Figure out the reason you didn’t get the financial aid you were expecting and make sure if you apply again the next year, you know what you should do, or perhaps avoid, so you don’t fall into this problem again. You should contact your college financial aid office to check the criteria for maintaining your award or to get answers to any questions regarding your award. For example, if you are on an academic plan with your financial aid office, you may have to successfully complete all classes on the plan to comply with the requirements. 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