Living and Learning 119|Page www.kutztown.edu/thekey Financial Aid Services’ major functions includes processing aid application information for the purpose of delivering federal and state aid to eligible students, administering institutional and private aid as well as counseling students. This assists in the University’s efforts to provide access and the recruitment and retention of students. The amount of financial aid is dependent upon the extent of the student’s need and availability of funds. Typically, aid is processed for the entire year, which consists of two semesters of 15 weeks for a total of 30 weeks of instruction time. Students seeking financial aid are required to submit the Free Application for Federal Student Aid (FAFSA). The FAFSA must be filed each year by our priority filing deadline of February 15 to be considered on time for all forms of aid. This process applies to both in-state and out-of-state students seeking consideration for all available aid from the institution. Students should also complete KU’s online scholarship application by March 1 which is available on the Financial Aid Office website. Student and Parent Loans The Financial Aid Office will automatically certify a Federal Direct Stafford Loan for students who complete a Free Application for Federal Student Aid (FAFSA). First-time borrowers or students who have not had Direct Stafford Loans before must go to studentaid.gov to (1) complete loan entrance counseling and (2) sign a master promissory note. The student will use their FAFSA FSA ID to electronically sign the master promissory note. Loan funds are delivered via EFT to the Office of Student Accounts at the beginning of each term. To decline the Stafford loan, the student must complete a Loan Change Form and return it to the Financial Aid Office. A loan cancelled for fall is automatically cancelled for the whole year. The Loan Change Form is available in the Financial Aid Office or online: • Go to www.kutztown.edu. • Click on “Current Students” link then click on the “Financial Aid” link. • On the Financial Aid Office’s website, click on the “Forms” link. Parents seeking to borrow the parent PLUS loan also apply at studentaid.gov. If a parent is denied a PLUS Loan, the student may be eligible to receive more unsubsidized Stafford Loan funds. Financial Aid Progress Requirements Continued aid eligibility for incumbent students requires maintaining financial aid progress toward a degree. This measure is both quantitative (completion rate based on credits) and qualitative (GPA) in nature. Financial aid progress requirements are not the same as the University’s academic policy. Advice from an academic advisor may differ from what is needed to maintain financial aid eligibility. Financial Aid progress is measured after every period of enrollment (fall/winter, spring, summer). If a student drops below the minimum requirements following a term of good financial aid standing, they are permitted to have a financial aid warning term in which they will still receive federal Title IV financial aid. If they do not regain satisfactory financial aid progress by the end of the warning term, they will lose all federal Title IV aid until they have met the following financial aid progress requirements or are granted a semester of appeal. The financial aid progress policy is a two-part policy:
RkJQdWJsaXNoZXIy NzcxOTE=