Financial Aid Application
Repayment or Refund of Aid
Satisfactory Academic Progress for Financial Aid
Financial Aid Appeals
(Financial aid information is subject to change. Go to www.asbury.edu/offices/financial-aid for latest information.)
At Asbury University we want to partner with you in funding your education. It is most advantageous to think of funding your education as a partnership between: You, Federal and State Governments, and Outside Sources.
Federal financial aid is available to students who are pursuing a degree on at least a half-time basis (five or more credit hours per semester).
To be considered for federal aid at Asbury University, students must complete the Free Application for Federal Student Aid (FAFSA) and the Graduate Aid Application each year. The FAFSA is available after October 1 of the year prior to planned enrollment.
Offers of financial aid will only be sent to students who have received official acceptance from the Admissions Office and have completed all necessary paperwork. It is the responsibility of the student to ensure that all the appropriate paperwork is turned in to the Financial Aid Office for processing. Students entering and applying for financial aid for the Fall semester (including those selected for verification) must have all paperwork completed and in the Financial Aid Office by September 1 of that fall term. For students entering in the Spring semester, the deadline is February 1 of that spring term.
The Government (Federal and State)
Federal TEACH Grant: The U.S. Department of Education’s TEACH Grant Program provides grant funds to postsecondary students who are completing or plan to complete coursework that is needed to begin a career in teaching, and who agree to serve for at least four years as a full-time, highly qualified teacher in a high-need field, in a school serving low-income students. Eligible full-time students may receive up to $4,000 per year in TEACH Grant funds, up to a maximum of $8,000 for graduate study.
If you receive a TEACH Grant, but do not complete the required four years of teaching service within eight years after completing the coursework for which you received the grant, or if you otherwise do not meet the requirements of the TEACH Grant Program, all TEACH Grant funds that you received will be converted to a Federal Direct Unsubsidized loan that you must repay in full, with interest, to the U.S. Department of Education. Once a TEACH Grant is converted to a loan, it cannot be converted back to a grant. For detailed information on this grant, please visit the federal government website: https://studentloans.gov/myDirectLoan/index.action
Federal Loans and Work Study
Federal Direct Loan: The Direct Loan program enables a student to borrow directly from the U.S. Department of Education. Graduate students may be able to borrow up to $20,500 per year based on eligibility; only Direct Unsubsidized loans are available to Graduate students. The above regulations and provisions of the Direct Loan are subject to change by federal legislative action. The interest rates on Unsubsidized loans may vary from year to year, but cap at 8.25%.
Federal Direct PLUS Loan: The Direct PLUS Loan is available to graduate students, if they are credit-worthy applicants. A graduate student may apply to borrow up to the total Cost of Attendance less any other financial aid for which the student has qualified. The student may borrow to help pay for educational expenses as long as he/she is enrolled at least half time in a degree program while meeting all basic eligibility requirements. Students must complete a FAFSA and qualify with the U.S. Department of Education. The regulations and provisions of the PLUS loan are subject to change by federal legislative action.
Federal College Work Study Program: Students are eligible for part-time employment under the Federal College Work Study program if they meet the requirements to receive federal aid. The selection of students will be made as follows: All students with financial need will be considered, but if funds are not sufficient to cover all requests, students demonstrating the greatest financial need will be given priority.
Veteran’s Benefits: Veterans, their spouses, or dependents may qualify for VA Education and Training Benefits. Eligibility is determined by the VA. For more details and to apply for education benefits, visit www.gibill.va.gov or call 1.888.442.4551 (request to speak with an educational benefits counselor).
To use VA benefits at Asbury University students must submit a written request to use their VA education benefits, and their Certificate of Eligibility (COE) for educational benefits. These items are due no later than the first day of classes. Depending on the type of benefits being used the student may be required to provide additional information necessary to the proper certification of enrollment.
Alternative Loans: Alternative loans are available for students to reduce any balance between the cost of education and financial aid. These loans are received through a lending institution, with several types being available. Financial Aid personnel will work with a student to determine the best type of loan option and will provide application information. Alternative loans will be counted as pending aid against the student’s account for a period not to exceed 60 days after the loan has been originated. After that time such loans will automatically be removed from the student’s pending aid. The alternative loan, however, may still be processed and applied to the student’s account following the resolution of any issues.
Financial Aid Application
In order to be considered for financial aid, you must file the FAFSA each year (https://studentaid.ed.gov), and complete a Graduate Aid Application (www.asbury.edu/offices/financial-aid/forms).
General Policies & Notes
- Requests for financial aid award eligibility must be made during the academic year for which the aid is intended.
- Student course load for Financial Aid purposes: Graduate students will be considered full-time or half-time for any enrolled semester according to the following schedule of minimum semester hours:
- In order to receive financial aid for 2021-2022 students enrolling in the Fall must have their files completed by September 1, 2021, and students enrolling in the Spring must have their files completed by February 1, 2022. A completed file includes: final FAFSA information, completed verification, if selected, and completion of all information deemed necessary by the Financial Aid Office. Students who complete their files after the deadline will be ineligible for aid until such time as their file is complete.
A portion or the entire amount of the cash disbursement may have to be repaid to the awarding program(s) when a student has received a cash disbursement in the form of a check (or cash) from Title IV, Kentucky Higher Education Assistance Authority, or non-Title IV programs. Full repayments of the cash disbursement amounts will be required if:
- The student was not eligible to receive the funds when they were disbursed.
- The student officially or unofficially withdraws from or is expelled by the University before the first day of classes for a payment period.
- The student unofficially withdraws from the University and the institution is unable to document the student’s last day of attendance. In this situation, the midpoint of the semester will be used to assess return of aid.
Return of Title IV (Federal) Financial Aid:
When a student withdraws during a term, the amount of federal financial aid earned by the student is determined on a pro-rata basis up to the end of 60 percent of the term (as determined by federal calculations). For example, if the student has completed 30 percent of the term, he/she has earned 30 percent of the federal aid originally scheduled to be received. Once a student has completed more than 60 percent of the term, he/she has earned all of his/her federal financial aid. (Federal Work-Study funds are excluded from the return of Title IV funds requirements.)
If a student has received excess funds, the University must return a portion of the excess equal to the lesser of: The student’s institutional charges multiplied by the unearned percentage of funds or the entire amount of excess funds.
If the aid to be returned is in the form of a loan that has been released to the student borrower, the student can repay the loan in accordance with the terms of the promissory note over a period of time. If the aid to be returned is in the form of grant funds, the law provides that the student must repay 50 percent of the grant rather than 100 percent.
Order of Federal Funds to Be Returned:
The funds must be credited to outstanding loan balances or to any amount awarded for the term in which a return of funds is required in the following order:
Direct Unsubsidized Loans
Direct PLUS Loans
Other Title IV Assistance
Institutional financial aid will be refunded according to the schedule below.
The institution has 30 days from the student’s last date of attendance to complete a Return of Title IV calculation. The institution has 45 days from the student’s last date of attendance to make any required refund of federal aid.
Refund of Institutional Financial Aid:
- Calculation of financial aid refunds are made after notification of the student’s official withdrawal from the University is made to the Financial Aid Office by the Office of the Registrar.
- The date used in determining amount of aid earned will be the last date of attendance in an academically-related activity, or the midpoint of the period of enrollment if no notification was given.
- The following calculations are used for refunds:
- For calculating refunds the ‘ACADEMIC WEEKS’ for a semester are calculated based on the official start and end dates of the student’s registered courses.
- Percentage of reduction in financial aid is based on percentage of semester attended before withdrawal or the midpoint of the period of enrollment if no withdrawal notification was given.
Reduction in amount of aid available to student based on:
Percentage of semester attended = 100% - (withdrawal date/total academic weeks)
NOTE: percentage of reduction in tuition charges to student is based on percentage of semester enrolled through the date of withdrawal notification. Please refer to “Refunds” in the Student Accounts section for the policy for tuition refunds.
Refund of Private Scholarships and Grants:
Unless otherwise requested by the donor, the refund of private assistance follows the pro-rata policy for the cancellation of institutional charges and financial aid.
Refund of Kentucky State Aid:
THE KHEAA Teach Scholarship follows the pro-rata policy for the cancellation of institutional charges and financial aid.
Satisfactory Academic Progress - Graduate Studies
See Academic Information for Graduate Students for the Academic Standards for Graduate Students.
Quantitative: The Financial Aid Office monitors semester hours of graduate students receiving aid to ensure that an appropriate course load is maintained according to the following chart:
||Required semester load
||Required annual hours completed to continue receiving aid
All students, including graduate students, are subject to the Academic Progress and Financial Aid policy described above except as more specifically delineated below.
All students, including graduate students, are subject to the Appeals Procedure for Financial Aid as follows below.
All students, including graduate students, are subject to the Academic Appeals Procedures as delineated in Academic Resources for All Students .
In order to be eligible for financial aid (i.e., loans), graduate students must be enrolled for a minimum of 5 semester hours in any given semester (summer, fall, and/or spring) and be making satisfactory progress toward the completion of the master’s degree or completion of other degree programs. The pace of completion varies by specific academic program. Normally, a graduate student should be completing at least 10 semester hours per academic year.
At the end of each semester, including summer, all graduate students will be reviewed by the Vice Provost and the Financial Aid Office with regard to: (1) academic status (scholarship standards) and (2) satisfactory academic progress. Students found: 1) not meeting the scholarship standard of a 3.00 cumulative grade point average, and/or 2) not making satisfactory academic progress (failure to complete sufficient hours attempted) will be treated according to the Quantitative and Qualitative processes as described above.
Time Frame for Financial Aid -Graduate Programs
The maximum time frame a student can receive financial aid is equal to 150% of the normal expected time it takes to complete the specific academic program. The various graduate degree programs require in the range of 32 to 60 semester hours to complete. The pace of completion varies by specific academic program. Normally, a graduate student should be completing at least 10 semester hours per academic year.
Appeals Procedure for Financial Aid Decisions
There are occasions when a student may be denied financial aid. The reasons for denial may include one or more of the following:
- Annual income and assets of student and/or spouse are sufficient to meet educational costs.
- Student is not making satisfactory academic progress toward a degree.
- Student owes a refund or repayment on previous aid and/or is in default on student loan payments.
- Student is taking less than a half-time load.
- Student is not a citizen or permanent resident of the United States (required for federal programs).
- Other resources listed by the student should be adequate to meet educational costs.
- Student has failed to provide sufficient information in order for an award to be made or has failed to provide requested documentation on reported information.
- Student is enrolled in a semester beyond 150% of program length.
There are also times when a family’s financial resources may change after the original application is submitted and a review of aid awarded is in order.
A student who loses financial aid based upon the academic progress policy or concerning any of the items mentioned above may appeal the loss of funds to the Financial Aid Appeals Committee. The Financial Aid Appeals Committee will consist of the Director of Financial Aid, the Assistant Director of Financial Aid, the Assistant Vice President for Business Affairs, and the Vice Provost. Information regarding the appeal process may be obtained in the Financial Aid Office.
Appeals: Asbury University recognizes that students placed on Financial Aid Suspension may have extenuating circumstances beyond their control. Appeals are welcome and careful consideration is given to each appeal.
Appeals must be in writing, designated “SAP Appeal,” and sent to the Financial Aid Office at Asbury University. The deadline to submit an appeal is 30 days from the date of Financial Aid Suspension notification. Each appeal must include a minimum of:
- An explanation as to why the student did not meet Satisfactory Academic Progress.
- A plan of action stating how the student plans to meet Satisfactory Academic Progress at the next evaluation.
- Supporting documentation (e.g. medical records for health concerns).
Extenuating circumstances beyond a student’s control include, but are not limited to:
- Death of an immediate family member (mother, father, spouse, legal guardian, sibling, child)
- Major medical issue experienced by the student and/or an immediate family member of the student (as designated above)
- COVID 19-related health concerns
- Involuntary call to active military duty
- Other extreme circumstances (case by case basis)
The following circumstances are not considered extenuating and/or beyond the student’s control:
- Not knowing the deadline or procedure
- Work conflicts
- Incarceration resulting from a guilty verdict
- Voluntary overtime
- Not needing or wanting a class, not doing well in a class, or having too heavy a course load
- Wishing to improve your GPA
- Concerns that fall within the scope of a normal college experience
If an appeal is approved and student is placed on Financial Aid Probation:
- it will be for one additional payment period only, if it is determined by the Financial Aid Office to be mathematically possible to attain SAP in one semester. By the close of this semester, the student must attain SAP to continuing receiving aid. If he/she does not attain SAP, his/her status will revert to Financial Aid Suspension and federal and state aid will not be awarded in the next period of enrollment. There is a possibility of receiving institutional aid, based on funds availability.
- it may be for more than one semester, if it is determined that one semester is not sufficient time to attain SAP. In this circumstance, an Action Plan is required, which is established by the student working with his/her academic advisor. The Action Plan must be followed exactly as established. Any changes must be made by the academic advisor and reported to the Financial Aid Office. By the end of the Action Plan, the student must attain SAP to continuing receiving aid. If he/she does not attain SAP, his/her status will revert to Financial Aid Suspension and federal and state aid will not be awarded in the next period of enrollment. There is a possibility of receiving institutional aid, based on funds availability.
If an appeal is denied:
- the student will be notified in writing that he/she remains on Financial Aid Suspension, with no federal or state aid eligibility, until SAP is regained in a subsequent semester. He/she is responsible to pay any bill that is incurred during this time.
The Financial Aid Office will review the student’s academic record at the close of each probationary semester to determine if SAP is met, at which time the student regains aid eligibility.