Financial Assistance Regulations

Conditions and Descriptions of Your Financial Assistance Award

GENERAL REQUIREMENTS:

Simpson College awards various types of financial assistance including grants, scholarships, loans and student employment. Many of these funds are based on the student's financial need. Other funds are awarded in recognition of a student's accomplishments and potential for future growth and development.

The policies and procedures contained in this statement apply to all students receiving any type of financial assistance at Simpson. These policies and procedures should be read very carefully. A student being unaware of a policy or procedure will not lessen its enforcement in any situation.

COST OF ATTENDANCE:

The cost of attendance at Simpson College includes tuition, fees, room and board. In determining financial need, an estimated cost for books and supplies is $900. In addition, a transportation allowance of $700 for on-campus and $800 for off-campus students is provided. For students who are residents of states other than Iowa, an additional transportation allowance is provided. Please keep in mind that these figures are used only to calculate your total cost of attendance and are not a part of your billable costs.

ACADEMIC YEAR:

Financial assistance is awarded for the academic year or a portion thereof during which a student anticipates being enrolled. Should a student discontinue a portion of that enrollment period, appropriate adjustments will be made to the student's award in accordance with the refund and return policies of Simpson College and the U.S. Department of Education.

In the case of a student with a Federal Stafford Student Loan, the lending agency will be notified of the date of the student's withdrawal.

VERIFICATION:

Students may be selected for verification by the Central Processor or Simpson College. The verification process is mandated by the U.S. Department of Education.

Some students are selected for a specific reason and others are randomly chosen. The process is designed to make sure that the data on the Free Application for Federal Student Aid or Renewal Application correlates with the information reported on the federal income tax return.

If the student is notified by Simpson's office of financial assistance to complete the verification process, the following must be noted:

1. It is the student's and parent's responsibility to provide the supporting data including:
a) Completed verification worksheet
b) Copies of signed federal tax returns for both student and parent/spouse
2. This data is urgent and must be provided immediately.
3. Failure to provide this data could result in the loss of federal funds to the student and the student's ability to continue his or her enrollment at Simpson College.
4. Financial assistance will not be credited to the student's account until this process is completed. Campus based federal funds will not be reserved if a student fails to complete the verification process in a timely manner.
5. Simpson College will not guarantee availability of campus-based funds if a student fails to complete the verification process by the time classes begin.

RENEWAL OF AWARDS:

A student must submit an application annually for the renewal of all federal or state awards by filing the Free Application for Federal Student Aid (FAFSA) or the Renewal Application. A student may file on the web at www.fafsa.ed.gov.

The renewal of an academic scholarship is based on the cumulative grade point average of the student. Renewal requirements are indicated below:

1. Cowles Fellowship, George Washington Carver Fellowship, Trustee Scholarship and Presidential Scholarship: cumulative GPA of 2.25 up to 61.00 completed hours; at 61.01 completed hours a cumulative GPA of 2.50 must be maintained.
2. Honor Scholarship or Matthew Simpson Scholarship: cumulative GPA of 2.25 up to 61.00 completed hours; at 61.01 completed hours a cumulative GPA of 2.50 must be maintained.
3. Transfer Student Honor Scholarship: cumulative Simpson GPA of 2.50.
4. Phi Theta Kappa Scholarship: cumulative Simpson GPA of 2.50.
5. George Washington Carver Scholarship: cumulative Simpson GPA of 2.25.

SATISFACTORY ACADEMIC PROGRESS STANDARDS FOR FINANCIAL ASSISTANCE:

Students receiving Title IV federal financial assistance, state funded financial assistance and/or Simpson College financial assistance are expected to maintain satisfactory academic progress during their enrollment at Simpson College. In order to be making satisfactory academic progress toward a degree, a student must both maintain a specified grade point average and proceed through his or her degree at a specific minimum pace.

Required Grades: At the end of each academic year, the student's cumulative grade point average will be monitored. If the student has a grade point average lower than that required to be making satisfactory academic progress, he/she will be placed on financial aid probation for the next semester. During the probationary period, the student may be able to receive financial assistance, but if the student fails to achieve the required average at the end of the next semester, the student's financial assistance will be terminated.

The following cumulative grade point averages are required:

Freshman (1.0-29.00) 1.80

Sophomore (29.01-61.00) 1.90

Junior (61.01-95.00) 2.00

Senior (95.01-Graduation) 2.00

Required Completion Rate: In addition to maintaining the grades specified above, the student must be progressing toward completion of the program within a specified time frame. In order to meet these minimums, a student must complete at least 24 credit hours per academic year (including May Term) at full-time status. Part-time students must successfully complete one-half of the credit hours they attempt in one year.

These credit hours must be earned during the academic year (fall, spring, and May term). However, if a student is short of these required hours, they may be earned during the following summer session(s). If the required hours are not completed by the end of the summer session(s), the student's financial aid will be suspended beginning with the upcoming fall term. Suspension of aid is the loss of financial aid eligibility and will result in no aid package for the upcoming year while under suspension. Suspension of aid is not the same as academic suspension, which is handled by the office of the academic dean.

Students enrolled at Simpson College may also have a maximum of 192 attempted hours at either a part-time or full-time pace to be considered making progress.

Course Repetition, Incompletes and Withdrawals: When a student repeats a course, the most recent grade received will be used in the calculation of the cumulative grade point average. Each course will be included as an attempted course. Incompletes or "I" may be given to any student who does not completely fulfill the requirements of a course. A petition for this status must be approved by the dean of academic affairs. A grade may be substituted for the "I" if the student successfully completes the unfinished work prior to 30 days following the close of the semester. Failure to complete the work required for a course in the period required above will result in the letter grade of F.

Students may withdraw from a course by the date published in the College catalog as the last date to withdraw. However, the course will be calculated as a course attempted for purposes of determining satisfactory progress.

Audits and non-credit work will not be counted toward minimal credit requirements.

Transfer Students: Transfer credits that are accepted at Simpson College will be counted toward the total attempted credits in determining whether the student is maintaining satisfactory academic progress.

Changes in major, degree or certificate program: A student who changes majors will still be required to stay within the 192 attempted hours requirement to receive assistance.

Re-establishing eligibility: A student who has lost financial eligibility can regain eligibility by making up deficiencies while not receiving aid. It is the student's responsibility to notify the office of financial assistance to request aid reinstatement when this has been accomplished.

Appeals: A student must meet the minimum credit hours and GPA requirements to be maintaining satisfactory academic progress. Extenuating circumstances that result in the student not meeting one or more requirements will be evaluated by the office of financial assistance. Appeals must be submitted in writing to the director of financial assistance.

INTERCOLLEGIATE ATHLETICS:

Simpson College is a member of the National Collegiate Athletic Association - NCAA, Division III. Simpson supports and adheres to the philosophy of NCAA Division III membership. Simpson College offers no financial assistance based on a student's athletic ability.

A report of the Equity in Athletics Disclosure Act, containing information on Simpson College's commitment to providing equal opportunities for men's and women's collegiate athletics, is available upon request in the Simpson College athletic office and the office of financial assistance.

DIRECT SCHOLARSHIPS:

A direct scholarship is one awarded by an independent grant source such as a civic organization or foundation. This scholarship is considered a part of the student's financial assistance award and must be reported to the office of financial assistance.

Scholarships and grants administered and regulated by the State of Iowa and the Federal Government are not considered direct scholarships.

If the student's financial aid is based on financial need and contains federal and/or state funds, the college cannot exceed the student's demonstrated financial need. If the student's financial need has not been met in full, direct scholarship funds will be added to the student's financial aid award. If the student's need has been met in full, reductions will be made first in the Federal Perkins Student Loan and then to the Federal Stafford Student Loan. If the financial assistance award does not contain a Federal Stafford or Federal Perkins Student Loan, but does contain federal or state funds and the student's need has been met in full, the outside scholarship will cause a reduction in the other federal, state, or institutional funds. This is done in order to meet federal and state regulations that the college not exceed the student's demonstrated financial need. A student receiving Simpson funded aid not based on financial need will receive the direct scholarship in addition to any financial assistance offered by the college, providing the total financial assistance award does not exceed the cost of attendance at Simpson College for the academic year during which the award is made.

It is the responsibility of the student receiving the direct scholarship to notify the office of financial assistance at Simpson College of all the details pertaining to the scholarship. At that time, the appropriate adjustments will be made in the student's award.

No student may receive financial assistance in excess of the budgeted cost of attendance at Simpson College.

FEDERAL STAFFORD STUDENT LOANS:

If a Federal Stafford Student Loan has been included in your award and you are a first-time Simpson student or a first-time Federal Stafford Student Loan borrower, the following must be completed:

1. A Federal Stafford Student Loan information form
2. A Master Promissory Note
3. A Federal Stafford Student Loan entrance interview

If you are a returning Simpson student and have borrowed previously under this program, we will process a loan on your behalf for the amount indicated on your award and with the lender you most recently used. If you wish to change the amount or the lender, you must notify the office of financial assistance within 14 days of receipt of your award.

Simpson College will process your Federal Stafford Loan with any lender you choose. We do, however, have a list of preferred lenders that we feel have established themselves as very strong in the student loan industry. If you are interested in learning how Simpson College selects our preferred lender list, we have published our criteria and process for doing so on our web page at http://www.simpson.edu/admissions/financial/federal.html.

FEDERAL PERKINS STUDENT LOANS:

If a Federal Perkins Student Loan has been included in the student's financial assistance award, the following must be completed and turned in to the office of financial assistance before the student's account can be credited:

1. A Federal Perkins entrance interview (if you are a first-time borrower)
2. A Federal Perkins master promissory note (if you are a first-time borrower)

"ON-CAMPUS" STUDENT EMPLOYMENT:

Simpson College provides a student with the opportunity to work on the campus of Simpson College. Simpson believes that student employment is a vital part of the total educational process.

The student will receive a paycheck each month based on the hours worked the previous month or may choose to have payroll direct deposited into a personal bank account. Earnings from student employment are not applied to the student's account but are to be used for the living expenses of the student.

Simpson also believes that students should be adequately and properly trained for the job to which they have been assigned.

Student employment is administered by the office of financial assistance. A student interested in an on-campus work opportunity should come to the office of financial assistance to make inquiry.

CREDIT BALANCE:

Should a student have a credit balance for a given semester, the student will receive his or her credit balance within fourteen days from the date the credit occurs. If a Federal PLUS Loan creates the credit, the excess funds will be returned to the parent borrower, unless the parent borrower indicated otherwise. If the student or parent chooses to leave this credit on the account, authorization must be given in writing to the business office.

REFUND & REPAYMENT POLICY:

Tuition Refunds: Dropping Classes/Change in Enrollment Status:

According to Simpson's add/drop policy, a student has the add/drop period of each semester to add and drop classes. The business office and the office of financial assistance will establish a student's tuition charges and financial assistance based on the student's enrollment status at the end of the add/drop period. After the add/drop period has expired, tuition will be refunded on a pro-rata basis as a student's enrollment status changes. After sixty percent of the enrollment period has expired, there will be no adjustments to tuition charges.

COMPLETE WITHDRAWAL:

A student interested in withdrawing from Simpson College should file a withdrawal form in the office of the dean of students and make an appointment with the office of financial assistance.

Simpson College engages faculty and staff members in advance for a full academic year. Many other expenses for maintaining the college are likewise commitments of one or more years into the future. Therefore, a student who withdraws does not reduce materially the costs of operating the college.

A student who withdraws before the 60% point in time in the semester will receive a refund in the applicable tuition, room, board and fees. The amount of the refund is based on the percentage of the semester that has not been completed. Financial aid will be refunded to federal, state and Simpson programs based on the same percentage. Stated simply, a student who withdraws after completing 20% of the semester will be charged 20% of the applicable tuition, room, board and fees and would retain 20% of his/her financial aid. If funds have been released to the student because of a credit balance on the student's account, then the student may be required to repay some of the federal grant released to the student. Examples of the application of the refund policy are available upon request in the office of financial assistance and the business office.

After the 60% point in the semester, no refund will be granted nor will financial aid be reduced. The portion of the semester completed is based on calendar days from the first day of the semester through the last scheduled day of finals, including weekends and breaks that are fewer than five days in length.

Students who do not go through the "official" withdrawal process (i.e. leave campus without filing withdrawal papers) will be deemed to have attended through the mid-point in the semester unless the last date of attendance can be documented. They will have their charges and financial aid adjusted accordingly.

This policy is subject to federal regulations. Contact the office of financial assistance for details and to learn of any changes to this policy.

MOVING OFF CAMPUS:

If a student receives a financial assistance award based on the student being a resident on campus and then he or she decides to move off campus, Simpson funded aid will be reduced by 50% of the amount of the annual standard college room and standard board charges. The student may apply for loan funds to replace lost dollars.

FACILITIES AND PROGRAMS FOR SPECIAL NEEDS:

Simpson College works with various government agencies and individuals in order to assist students with special needs.

Most building entrances are designed for students with special needs.

Classrooms and other living facilities are adjusted to meet student needs. Selected housing facilities are designed to facilitate the student with special needs.

Services of the Hawley Academic Resource Center, including tutoring, are available on an individual basis for specialized needs.

For further information in this area, students should contact the office of student affairs at Simpson College.

VOTER REGISTRATION FORMS:

Voter registration forms are available for students to register in several administrative offices including: the office of financial assistance, the registrar's office, the business office, the division of adult learning and student development. A student may also register to vote on line linking to the voter registration site at www.simpson.edu by selecting financial facts then helpful links.

TUITION EXCHANGE/REMISSION:

Tuition exchange/remission is available to the dependent student whose parent is employed by a participating college or university. Students must file the FAFSA and tuition exchange/remission papers must be filed and approved in order to receive this benefit. Students accepted for the tuition exchange/remission program will not be eligible for any other Simpson funded gift assistance.

The tuition exchange/remission benefit will be reduced by an amount equal to other federal and state gift dollars so that the maximum benefit will never exceed the cost of tuition. Students applying for the tuition exchange/remission benefit are required to file a FAFSA.

SUMMARY STATEMENT:

All financial assistance awards are conditioned and contingent upon:

1. Maintaining satisfactory academic progress toward graduation.
2. The accuracy and completeness of the financial information provided by the student and parents/spouse; delay or corrections in providing explanations could alter the award. If the student or parents/spouse are asked to provide additional information, please respond immediately.
3. Availability of funds.
4. The student notifying the office of financial assistance of any direct scholarships received in addition to the financial assistance award.

FULL-TIME ENROLLMENT:

Unless otherwise indicated on the award notice, awards are based on full-time enrollment. Failure to register for a full-time course load (12 semester hours or more) or dropping credits after registration will likely result in the withdrawal or reduction of financial assistance.

CONCLUSION:

Financial planning for college is an important part of the total college enrollment process. The office of financial assistance is here to help guide you through this process. Please feel free to contact the office of financial assistance at any time.

YOUR RIGHTS AND RESPONSIBILITIES:

You Have The Right To:

Be informed. Simpson College strives to provide parents and students factual information about costs, aid, opportunities, programs, etc. through its publications and correspondence.
Expect confidentiality. All financial aid information submitted to the office of financial assistance will remain confidential and will not be released without your written consent.
Receive an answer. A professional staff member in the office of financial assistance will answer any question concerning the determination of your award.
Accept all or part of the assistance offered. An award of one type of aid is not contingent upon acceptance of another.
Have your financial need reviewed if there has been a significant change in your family financial situation. However, this does not always result in an increase in your award.
Examine your financial aid records. You may request a review with a financial aid administrator at any time.
Expect fair treatment. Simpson College does not discriminate on the basis of race, color, sex, religion, national or ethnic origin, physical or mental handicap or age.

You Are Responsible:

(Along with your parents if you are a dependent student) for meeting your educational costs.
For supplying accurate information on all forms submitted. Funds obtained on the basis of false information must be repaid and could result in criminal prosecution.
For reporting any assistance received from any sources outside our office. This includes all outside education loans, scholarships and grants.
For completing all necessary paperwork.
For responding to the office of financial assistance on a timely basis. If you are applying for aid with a deadline, you must meet that deadline.
For reporting any change in your circumstances which might affect your eligibility for financial aid. These changes include residency, enrollment status (withdrawing from a class or school), class standing, increase or decrease of financial resources and marital status.
For using financial aid funds for expenses related to your attendance at Simpson College.
For repaying all types of loan assistance and to inform lenders of any change in name, address, or enrollment while you are attending school and after you leave or graduate.
For being aware of all conditions that relate to the receipt of your financial aid.


	Apply Visit Campus Academics Campus Living Financial Facts Tuition & Fees Types of Assistance Forms Regulations Helpful Links How to Apply Student Employment Payment Options FAQ Student Life News & Events Transfer Students International Students Meet Your Counselor Contact Us
Financial Assistance Regulations Conditions and Descriptions of Your Financial Assistance Award GENERAL REQUIREMENTS: Simpson College awards various types of financial assistance including grants, scholarships, loans and student employment. Many of these funds are based on the student's financial need. Other funds are awarded in recognition of a student's accomplishments and potential for future growth and development. The policies and procedures contained in this statement apply to all students receiving any type of financial assistance at Simpson. These policies and procedures should be read very carefully. A student being unaware of a policy or procedure will not lessen its enforcement in any situation. COST OF ATTENDANCE: The cost of attendance at Simpson College includes tuition, fees, room and board. In determining financial need, an estimated cost for books and supplies is $900. In addition, a transportation allowance of $700 for on-campus and $800 for off-campus students is provided. For students who are residents of states other than Iowa, an additional transportation allowance is provided. Please keep in mind that these figures are used only to calculate your total cost of attendance and are not a part of your billable costs. ACADEMIC YEAR: Financial assistance is awarded for the academic year or a portion thereof during which a student anticipates being enrolled. Should a student discontinue a portion of that enrollment period, appropriate adjustments will be made to the student's award in accordance with the refund and return policies of Simpson College and the U.S. Department of Education. In the case of a student with a Federal Stafford Student Loan, the lending agency will be notified of the date of the student's withdrawal. VERIFICATION: Students may be selected for verification by the Central Processor or Simpson College. The verification process is mandated by the U.S. Department of Education. Some students are selected for a specific reason and others are randomly chosen. The process is designed to make sure that the data on the Free Application for Federal Student Aid or Renewal Application correlates with the information reported on the federal income tax return. If the student is notified by Simpson's office of financial assistance to complete the verification process, the following must be noted: 1. It is the student's and parent's responsibility to provide the supporting data including: a) Completed verification worksheet b) Copies of signed federal tax returns for both student and parent/spouse 2. This data is urgent and must be provided immediately. 3. Failure to provide this data could result in the loss of federal funds to the student and the student's ability to continue his or her enrollment at Simpson College. 4. Financial assistance will not be credited to the student's account until this process is completed. Campus based federal funds will not be reserved if a student fails to complete the verification process in a timely manner. 5. Simpson College will not guarantee availability of campus-based funds if a student fails to complete the verification process by the time classes begin. RENEWAL OF AWARDS: A student must submit an application annually for the renewal of all federal or state awards by filing the Free Application for Federal Student Aid (FAFSA) or the Renewal Application. A student may file on the web at www.fafsa.ed.gov. The renewal of an academic scholarship is based on the cumulative grade point average of the student. Renewal requirements are indicated below: 1. Cowles Fellowship, George Washington Carver Fellowship, Trustee Scholarship and Presidential Scholarship: cumulative GPA of 2.25 up to 61.00 completed hours; at 61.01 completed hours a cumulative GPA of 2.50 must be maintained. 2. Honor Scholarship or Matthew Simpson Scholarship: cumulative GPA of 2.25 up to 61.00 completed hours; at 61.01 completed hours a cumulative GPA of 2.50 must be maintained. 3. Transfer Student Honor Scholarship: cumulative Simpson GPA of 2.50. 4. Phi Theta Kappa Scholarship: cumulative Simpson GPA of 2.50. 5. George Washington Carver Scholarship: cumulative Simpson GPA of 2.25. SATISFACTORY ACADEMIC PROGRESS STANDARDS FOR FINANCIAL ASSISTANCE: Students receiving Title IV federal financial assistance, state funded financial assistance and/or Simpson College financial assistance are expected to maintain satisfactory academic progress during their enrollment at Simpson College. In order to be making satisfactory academic progress toward a degree, a student must both maintain a specified grade point average and proceed through his or her degree at a specific minimum pace. Required Grades: At the end of each academic year, the student's cumulative grade point average will be monitored. If the student has a grade point average lower than that required to be making satisfactory academic progress, he/she will be placed on financial aid probation for the next semester. During the probationary period, the student may be able to receive financial assistance, but if the student fails to achieve the required average at the end of the next semester, the student's financial assistance will be terminated. The following cumulative grade point averages are required: Freshman (1.0-29.00) 1.80 Sophomore (29.01-61.00) 1.90 Junior (61.01-95.00) 2.00 Senior (95.01-Graduation) 2.00 Required Completion Rate: In addition to maintaining the grades specified above, the student must be progressing toward completion of the program within a specified time frame. In order to meet these minimums, a student must complete at least 24 credit hours per academic year (including May Term) at full-time status. Part-time students must successfully complete one-half of the credit hours they attempt in one year. These credit hours must be earned during the academic year (fall, spring, and May term). However, if a student is short of these required hours, they may be earned during the following summer session(s). If the required hours are not completed by the end of the summer session(s), the student's financial aid will be suspended beginning with the upcoming fall term. Suspension of aid is the loss of financial aid eligibility and will result in no aid package for the upcoming year while under suspension. Suspension of aid is *not* the same as academic suspension, which is handled by the office of the academic dean. Students enrolled at Simpson College may also have a maximum of 192 attempted hours at either a part-time or full-time pace to be considered making progress. Course Repetition, Incompletes and Withdrawals: When a student repeats a course, the most recent grade received will be used in the calculation of the cumulative grade point average. Each course will be included as an attempted course. Incompletes or "I" may be given to any student who does not completely fulfill the requirements of a course. A petition for this status must be approved by the dean of academic affairs. A grade may be substituted for the "I" if the student successfully completes the unfinished work prior to 30 days following the close of the semester. Failure to complete the work required for a course in the period required above will result in the letter grade of F. Students may withdraw from a course by the date published in the College catalog as the last date to withdraw. However, the course will be calculated as a course attempted for purposes of determining satisfactory progress. Audits and non-credit work will not be counted toward minimal credit requirements. Transfer Students: Transfer credits that are accepted at Simpson College will be counted toward the total attempted credits in determining whether the student is maintaining satisfactory academic progress. Changes in major, degree or certificate program: A student who changes majors will still be required to stay within the 192 attempted hours requirement to receive assistance. Re-establishing eligibility: A student who has lost financial eligibility can regain eligibility by making up deficiencies while not receiving aid. It is the student's responsibility to notify the office of financial assistance to request aid reinstatement when this has been accomplished. Appeals: A student must meet the minimum credit hours and GPA requirements to be maintaining satisfactory academic progress. Extenuating circumstances that result in the student not meeting one or more requirements will be evaluated by the office of financial assistance. Appeals must be submitted in writing to the director of financial assistance. INTERCOLLEGIATE ATHLETICS: Simpson College is a member of the National Collegiate Athletic Association - NCAA, Division III. Simpson supports and adheres to the philosophy of NCAA Division III membership. Simpson College offers no financial assistance based on a student's athletic ability. A report of the Equity in Athletics Disclosure Act, containing information on Simpson College's commitment to providing equal opportunities for men's and women's collegiate athletics, is available upon request in the Simpson College athletic office and the office of financial assistance. DIRECT SCHOLARSHIPS: A direct scholarship is one awarded by an independent grant source such as a civic organization or foundation. This scholarship is considered a part of the student's financial assistance award and must be reported to the office of financial assistance. Scholarships and grants administered and regulated by the State of Iowa and the Federal Government are not considered direct scholarships. If the student's financial aid is based on financial need and contains federal and/or state funds, the college cannot exceed the student's demonstrated financial need. If the student's financial need has not been met in full, direct scholarship funds will be added to the student's financial aid award. If the student's need has been met in full, reductions will be made first in the Federal Perkins Student Loan and then to the Federal Stafford Student Loan. If the financial assistance award does not contain a Federal Stafford or Federal Perkins Student Loan, but does contain federal or state funds and the student's need has been met in full, the outside scholarship will cause a reduction in the other federal, state, or institutional funds. This is done in order to meet federal and state regulations that the college not exceed the student's demonstrated financial need. A student receiving Simpson funded aid not based on financial need will receive the direct scholarship in addition to any financial assistance offered by the college, providing the total financial assistance award does not exceed the cost of attendance at Simpson College for the academic year during which the award is made. It is the responsibility of the student receiving the direct scholarship to notify the office of financial assistance at Simpson College of all the details pertaining to the scholarship. At that time, the appropriate adjustments will be made in the student's award. No student may receive financial assistance in excess of the budgeted cost of attendance at Simpson College. FEDERAL STAFFORD STUDENT LOANS: If a Federal Stafford Student Loan has been included in your award and you are a first-time Simpson student or a first-time Federal Stafford Student Loan borrower, the following must be completed: 1. A Federal Stafford Student Loan information form 2. A Master Promissory Note 3. A Federal Stafford Student Loan entrance interview If you are a returning Simpson student and have borrowed previously under this program, we will process a loan on your behalf for the amount indicated on your award and with the lender you most recently used. If you wish to change the amount or the lender, you must notify the office of financial assistance within 14 days of receipt of your award. Simpson College will process your Federal Stafford Loan with any lender you choose. We do, however, have a list of preferred lenders that we feel have established themselves as very strong in the student loan industry. If you are interested in learning how Simpson College selects our preferred lender list, we have published our criteria and process for doing so on our web page at http://www.simpson.edu/admissions/financial/federal.html. FEDERAL PERKINS STUDENT LOANS: If a Federal Perkins Student Loan has been included in the student's financial assistance award, the following must be completed and turned in to the office of financial assistance before the student's account can be credited: 1. A Federal Perkins entrance interview (if you are a first-time borrower) 2. A Federal Perkins master promissory note (if you are a first-time borrower) "ON-CAMPUS" STUDENT EMPLOYMENT: Simpson College provides a student with the opportunity to work on the campus of Simpson College. Simpson believes that student employment is a vital part of the total educational process. The student will receive a paycheck each month based on the hours worked the previous month or may choose to have payroll direct deposited into a personal bank account. Earnings from student employment are not applied to the student's account but are to be used for the living expenses of the student. Simpson also believes that students should be adequately and properly trained for the job to which they have been assigned. Student employment is administered by the office of financial assistance. A student interested in an on-campus work opportunity should come to the office of financial assistance to make inquiry. CREDIT BALANCE: Should a student have a credit balance for a given semester, the student will receive his or her credit balance within fourteen days from the date the credit occurs. If a Federal PLUS Loan creates the credit, the excess funds will be returned to the parent borrower, unless the parent borrower indicated otherwise. If the student or parent chooses to leave this credit on the account, authorization must be given in writing to the business office. REFUND & REPAYMENT POLICY: Tuition Refunds: Dropping Classes/Change in Enrollment Status: According to Simpson's add/drop policy, a student has the add/drop period of each semester to add and drop classes. The business office and the office of financial assistance will establish a student's tuition charges and financial assistance based on the student's enrollment status at the end of the add/drop period. After the add/drop period has expired, tuition will be refunded on a pro-rata basis as a student's enrollment status changes. After sixty percent of the enrollment period has expired, there will be no adjustments to tuition charges. COMPLETE WITHDRAWAL: A student interested in withdrawing from Simpson College should file a withdrawal form in the office of the dean of students and make an appointment with the office of financial assistance. Simpson College engages faculty and staff members in advance for a full academic year. Many other expenses for maintaining the college are likewise commitments of one or more years into the future. Therefore, a student who withdraws does not reduce materially the costs of operating the college. A student who withdraws before the 60% point in time in the semester will receive a refund in the applicable tuition, room, board and fees. The amount of the refund is based on the percentage of the semester that has not been completed. Financial aid will be refunded to federal, state and Simpson programs based on the same percentage. Stated simply, a student who withdraws after completing 20% of the semester will be charged 20% of the applicable tuition, room, board and fees and would retain 20% of his/her financial aid. If funds have been released to the student because of a credit balance on the student's account, then the student may be required to repay some of the federal grant released to the student. Examples of the application of the refund policy are available upon request in the office of financial assistance and the business office. After the 60% point in the semester, no refund will be granted nor will financial aid be reduced. The portion of the semester completed is based on calendar days from the first day of the semester through the last scheduled day of finals, including weekends and breaks that are fewer than five days in length. Students who do not go through the "official" withdrawal process (i.e. leave campus without filing withdrawal papers) will be deemed to have attended through the mid-point in the semester unless the last date of attendance can be documented. They will have their charges and financial aid adjusted accordingly. This policy is subject to federal regulations. Contact the office of financial assistance for details and to learn of any changes to this policy. MOVING OFF CAMPUS: If a student receives a financial assistance award based on the student being a resident on campus and then he or she decides to move off campus, Simpson funded aid will be reduced by 50% of the amount of the annual standard college room and standard board charges. The student may apply for loan funds to replace lost dollars. FACILITIES AND PROGRAMS FOR SPECIAL NEEDS: Simpson College works with various government agencies and individuals in order to assist students with special needs. Most building entrances are designed for students with special needs. Classrooms and other living facilities are adjusted to meet student needs. Selected housing facilities are designed to facilitate the student with special needs. Services of the Hawley Academic Resource Center, including tutoring, are available on an individual basis for specialized needs. For further information in this area, students should contact the office of student affairs at Simpson College. VOTER REGISTRATION FORMS: Voter registration forms are available for students to register in several administrative offices including: the office of financial assistance, the registrar's office, the business office, the division of adult learning and student development. A student may also register to vote on line linking to the voter registration site at www.simpson.edu by selecting financial facts then helpful links. TUITION EXCHANGE/REMISSION: Tuition exchange/remission is available to the dependent student whose parent is employed by a participating college or university. Students must file the FAFSA and tuition exchange/remission papers must be filed and approved in order to receive this benefit. Students accepted for the tuition exchange/remission program will not be eligible for any other Simpson funded gift assistance. The tuition exchange/remission benefit will be reduced by an amount equal to other federal and state gift dollars so that the maximum benefit will never exceed the cost of tuition. Students applying for the tuition exchange/remission benefit are required to file a FAFSA. SUMMARY STATEMENT: All financial assistance awards are conditioned and contingent upon: 1. Maintaining satisfactory academic progress toward graduation. 2. The accuracy and completeness of the financial information provided by the student and parents/spouse; delay or corrections in providing explanations could alter the award. If the student or parents/spouse are asked to provide additional information, please respond immediately. 3. Availability of funds. 4. The student notifying the office of financial assistance of any direct scholarships received in addition to the financial assistance award. FULL-TIME ENROLLMENT: Unless otherwise indicated on the award notice, awards are based on full-time enrollment. Failure to register for a full-time course load (12 semester hours or more) or dropping credits after registration will likely result in the withdrawal or reduction of financial assistance. CONCLUSION: Financial planning for college is an important part of the total college enrollment process. The office of financial assistance is here to help guide you through this process. Please feel free to contact the office of financial assistance at any time. YOUR RIGHTS AND RESPONSIBILITIES: You Have The Right To: Be informed. Simpson College strives to provide parents and students factual information about costs, aid, opportunities, programs, etc. through its publications and correspondence. Expect confidentiality. All financial aid information submitted to the office of financial assistance will remain confidential and will not be released without your written consent. Receive an answer. A professional staff member in the office of financial assistance will answer any question concerning the determination of your award. Accept all or part of the assistance offered. An award of one type of aid is not contingent upon acceptance of another. Have your financial need reviewed if there has been a significant change in your family financial situation. However, this does not always result in an increase in your award. Examine your financial aid records. You may request a review with a financial aid administrator at any time. Expect fair treatment. Simpson College does not discriminate on the basis of race, color, sex, religion, national or ethnic origin, physical or mental handicap or age. You Are Responsible: (Along with your parents if you are a dependent student) for meeting your educational costs. For supplying accurate information on all forms submitted. Funds obtained on the basis of false information must be repaid and could result in criminal prosecution. For reporting any assistance received from any sources outside our office. This includes all outside education loans, scholarships and grants. For completing all necessary paperwork. For responding to the office of financial assistance on a timely basis. If you are applying for aid with a deadline, you must meet that deadline. For reporting any change in your circumstances which might affect your eligibility for financial aid. These changes include residency, enrollment status (withdrawing from a class or school), class standing, increase or decrease of financial resources and marital status. For using financial aid funds for expenses related to your attendance at Simpson College. For repaying all types of loan assistance and to inform lenders of any change in name, address, or enrollment while you are attending school and after you leave or graduate. For being aware of all conditions that relate to the receipt of your financial aid.
About Simpson \| Admissions \| Evening, Weekend & Graduate Programs \| Academics \| Alumni Athletics \| Arts & Forum \| Campus & Community \| Student Life \| Support Simpson Simpson.edu \| Site Map \| Contact Us © Copyright 2008 Simpson College Last Updated: 4/7/08	SEARCH: