Policies & Resources

2014-2015 Financial Aid Policies & Procedures

Students must reapply annually to be considered for all funding.  No aid is automatically renewed. 

Verification – Ursinus performs an institutional verification of all need based aid files.  We require submission of base year federal tax returns or completion of the FAFSA IRS Data Retrieval Process, W-2 forms and completion of the Ursinus Annual Institutional Verification form.  We will update your FAFSA results to match the actual data if applicable and resubmit this information to the federal government.  Please note that the federal government may also select your file for a federal verification review process.  If your file is randomly selected, we may be required to request additional documentation from you as mandated by the federal Department of Education.  

Financial Aid Award Letter: Acceptance of your financial aid award letter requires no response.  If you wish to decline a particular aid type, please note this on your award letter and return it within two weeks of receipt. 

Crediting of awards: Students are sent an estimated bill in July for the fall semester and another in December for the spring semester. Federal and state grants and all Ursinus dollars (grants and scholarships) will be credited to student accounts after the start of the semester, generally half for each semester as indicated in the award letter. 

Campus employment funds are paid to the student bi-weekly as earned. Expected earnings may not be deducted from semester bills, but they may be used for other educational and personal expenses or saved toward the next semester’s bill. 

Stafford, PLUS, Private Alternative Loan funds and outside scholarship awards are credited to the student account when the funds are received. Families may deduct anticipated outside scholarship awards from the estimated bill. 

Enrollment: Full aid awards will apply when the student enrolls full-time (at least 12 credits each semester) at Ursinus College. Awards will be adjusted for less than full-time enrollment.  No Ursinus dollars will be awarded to less than full-time students.  

Maximum Eligibility: Students may receive Ursinus institutional awards for a maximum of eight semesters. 

Outside Scholarship Awards: All students receiving scholarship assistance from outside agencies must submit a copy of the award notice from the organization to the Office of Scholarships and Financial Aid as soon it is received.  Outside awards will be used to meet any unmet need in the financial aid package.  Once need has been fully met, an adjustment may be made to the self-help portion (work-study and loans) of the package based on federal and state policies.  Ursinus College institutional awards will be reduced only if the total of all scholarships/grants exceed the cost of tuition.  

Renewal: Students must reapply for aid each academic year by May 1st. Renewal is subject to source regulations, satisfactory academic progress and availability of funds. NOTE:  Renewal application deadlines must be followed.  Late paperwork will result in reduction of aid. 

Standards of Satisfactory Academic Progress: Full-time students must complete 24 credits each academic year to continue to be considered for financial aid. A full explanation of Satisfactory Academic Progress is available on our website as well as in the College’s catalog.  

Student Billing Policies 

Each year in early July Ursinus will send to the student at the home address an estimated bill for the fall semester requesting that payment is remitted by early August.  The estimated bill for the spring semester is sent in early December with a payment due date in early in January.  In each case, the estimated bill shows charges for the semester, estimated financial aid from the student’s award letter, payments made by the student or family prior to the billing date, monthly payment plans set up by the family, certified alternative loans, and certified Plus loans.  The bottom line on this estimated bill shows the amount due to be paid before the start of the semester.    

Payments  

Payments are accepted by mail or walk-ins at the Student Billing or Business Offices on the 2nd Floor of Corson Hall. Ursinus College accepts cash, checks, and money orders in person. Credit cards payments are only accepted through Tuition Management Systems at www.afford.com/ursinus (each transaction will be charged a 2.75% convenience fee by TMS). 

Make all checks/money orders payable to Ursinus College. 

Please send payment to:
            Ursinus College
            PO Box 824015
            Philadelphia, PA  19182-40154

Shortly after each semester begins, financial aid is posted to student accounts and a paper copy of the actual bill is mailed to the student at the home address, in early September for the fall semester and in early February for the spring semester. As an alternative to the paper bills, the student can always view the student account on-line through NetClassroom. Instructions can be found on the student billing website. 

Tuition and Fee Refunds 

Ursinus College reserves the right to apply late fees to any student account that is not paid in full by the due date. The policy is outlined in the current catalog. 

To be eligible for tuition and board refund, a student must officially withdraw by completing a withdrawal form available in the Office of Academic Affairs. The amount of the refund is based on the date that the withdrawal form is recorded in the Registrar's Office. Not attending class does not automate an official withdraw. 

The refund date and amount is established by the Student Billing Office as defined in the current college catalog. 

Questions on student bills can be directed to studentbilling@ursinus.edu or to 610-409-3579. 

Satisfactory Academic Progress 

Colleges and universities are required to establish minimum standards of satisfactory academic progress for students receiving financial aid. Ursinus College has established these standards:  

All students enrolled at Ursinus College are subject to the academic standards of the College. Qualitatively, the Committee on Academic Standing receives the record each semester of every student with a GPA below 2.00. Corrective action is recommended in each case and progress is closely monitored. If the Committee sees no immediate and significant improvement, the student is determined to have failed to make satisfactory academic progress and is dismissed from the College by the faculty. All financial aid the student is receiving is terminated.  

Students receiving financial aid must also meet the following quantitative requirements:  

  • A full time student (12-18 credits per semester) must successfully complete 24 semester hours of academic work in the two preceding semesters (summer academic work, where applicable, may be included) in order to be eligible to continue receiving federal, state, and institutional financial assistance.
  •  A three-quarter time student (9-11 credits per semester) must successfully complete 18 semester hours of academic work in the two preceding semesters (summer academic work, where applicable, may be included) in order to be eligible to continue receiving federal, state and institutional financial aid.
  • A half-time student (6-8 credits per semester) must successfully complete 12 semester hours of academic work in the two preceding semesters (summer academic work, where applicable, may be included) in order to be eligible to continue receiving federal, state, and institutional financial aid. 

In each classification, courses that are not complete, course withdrawals, and noncredit remedial courses are not counted. If a student must repeat a course for major or degree requirements, it may be counted toward the annual required credits and grade average. 

A full-time student is expected to complete all degree requirements within a maximum of 10 semesters and summer school (5 years).

Satisfactory Academic Progress Chart

Academic Years Completed - 1  2  3  4  5  6  7  8  9  10  SS

Number of Credits Successfully Completed

Full-Time                             24  48  72  96  120 - - - - - 128

3/4 Time                             18  36  54  72  90  108  126 - - - 128

Half-Time                            12  24  36  48  60  72  84  96  108  120  128


Special Note:

The requirement for a bachelor’s degree is 128 credits. To graduate in four years, a student must enroll for a minimum of 16 credits per semester. Enrolling for 12 credits (minimum for full-time status) extends graduation one full calendar year. Some financial aid programs have eight (8) semester limits, (i.e., Ursinus College funding and State Grants), making financing of the fifth year difficult.
Any continuously enrolled student receiving financial aid who does not meet minimum satisfactory academic progress will be notified in writing by the Student Financial Services Office.

If financial aid is denied for reason of not meeting the College’s standards of satisfactory academic progress, the student does have the right to appeal, in writing, first to the Director of Student Financial Services and secondly to the Review Committee. If the appeal is denied, the student is considered for financial aid only when he or she completes the credits needed for making normal satisfactory academic progress for all the semesters that the student had been receiving financial aid.
This evaluation of a student’s academic standing and progress to determine federal, state, and institutional financial aid eligibility is made once a year or after two semesters of academic work. Students failing to progress on schedule at the end of each initial semester are placed on probation in order to provide them an early warning.
For more information, please refer to the Ursinus College Catalog. 

Other Sources of INformation

U. S. Department of Education
1-800-4-FED-AID
www.studentaid.ed.gov 
Free Application for Federal Student Aid (FAFSA)
www.fafsa.ed.gov  (to apply online)
www.pin.ed.gov  (to sign your FAFSA electronically. You may also use it to sign your Federal Direct Stafford or Federal Direct PLUS Master Promissory Note electronically.) 
Pennsylvania Higher Education Assistance Agency (PHEAA)/American Education Services (AES)
1-800-692-7392 (for Pennsylvania State Grant questions)
www.aesSuccess.org 
CSS PROFILE
http://student.collegeboard.org/profile 
IDOC
https://idoc.collegeboard.com 
Voter Registration Information
The National Mail Voter Registration Form
www.fec.gov/votregis/vr.shtml 
Selective Service Registration
www.sss.gov 
Direct Loans on the Web
www.studentloans.gov 
Alternative Loans
www.elmselect.com 
National Student Loan Data System (NSLDS)
www.NSLDS.gov (to view Federal Student Loan history) 
Direct Loan Consolidation Center
1-800-557-7392
www.loanconsolidation.ed.gov
Internal Revenue Service
1-800-908-9946
www.irs.gov

IMPORTANT REMINDER

Financial aid is not automatically renewed each year.  The financial aid renewal checklist will be mailed with the spring semester bills.  The renewal checklist and forms can also be found on the financial aid website at www.ursinus.edu/financialaid 

Every student receiving aid, need based and/or merit, must renew their aid each year. 

The renewal deadline is May 1st.  Failure to meet the reapplication deadline will result in reduction of aid.

 

The Financial Aid Policies and Procedures (View / Download PDF)