Financial Assistance - Undergraduates

(Financial aid information is subject to change. Go to http://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 (the student and family), the Government (federal and state), the Institution (Asbury University) and Outside Sources (civic organizations, businesses, etc.).

Institutional and governmental financial aid is available to students who are pursuing a degree on a full-time basis (12 or more credits per semester). Part time governmental aid is available for students taking less than twelve hours each semester.

To receive need-based aid at Asbury University, students must complete the Free Application for Federal Student Aid (FAFSA) each year at www.studentaid.gov. It is available after October 1 of the year prior to enrolling and should be submitted before February 1 for optimum consideration.

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 term. For students entering in the Spring, the deadline is February 1 of that term.

Aid disbursement to student account: Asbury begins processing financial aid once the drop/add period has passed, charges have been applied, and all required documents have been completed and/or submitted to the institution or appropriate organization. This occurs approximately three weeks after the start of the semester and/or start of a student’s classes (for mid-semester starts).

The Financial Aid Partnership described in paragraph one is best defined by the following:

You (The Student and Family)

Expected Family Contribution (EFC) is determined by a need analysis as part of the Free Application for Federal Student Aid. You must submit financial and personal information from the most recently completed tax year when completing the FAFSA after October 1 of the year prior to the student enrolling. The EFC is deducted from Asbury’s cost of attendance to determine student need. The Financial Aid Partnership functions most efficiently when families commit to paying their share of university costs as suggested by the expected family contribution. For those who are unable to pay, Direct PLUS and Alternative Loans are available.

The Government (Federal and State)

Federal Grants

Federal Pell Grant: The Pell Grant provides money to help high need undergraduate students pay for their education after high school. For many students, this grant provides a foundation of financial aid to which aid from other federal and non-federal sources may be added. Unlike loans, grants do not have to be paid back. The maximum award for the Pell Grant in 2023-2024 is $7,395. The student must apply for this grant each year by completing the FAFSA and may not receive the grant until enrolled in an eligible program. The grant will be split with one-half being placed on the student’s account at the beginning of each semester. The above regulations and provisions of the Pell Grant are subject to change by federal legislative action.

Federal Supplemental Educational Opportunity Grant (FSEOG): This grant is available to enrolled undergraduate students. The selection of applicants for this program is based upon financial need. Applicants with exceptional need and who receive Pell Grants will be given preference. Although federal guidelines state that grants of up to $4000 per year may be awarded, most grants range from $500 to $1000 per year because of limited funds at Asbury University. The above regulations and provisions of the Supplemental Educational Opportunity Grant are subject to change by federal legislative action.

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 $16,000 for undergraduate and post-baccalaureate study, and $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 of 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: www.studentaid.gov.

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. The maximum a student may borrow per year is: Freshmen $5,500, Sophomores $6,500, Juniors and Seniors $7,500. There are two types of Direct Loans: Subsidized and Unsubsidized. Graduate students may be able to borrow up to $20,500 per year based on need; 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 Subsidized and Unsubsidized loans may vary from year to year, but cap at 8.25%.

Federal Direct PLUS Loan: The PLUS is available to credit-worthy parents of dependent children attending college. The maximum amount is equal to the Cost of Attendance less any other financial aid for which the student has qualified. Students must complete a FAFSA, and parents must qualify with the U.S. Department of Education. If parents are denied the PLUS loan, the student is eligible for additional Direct Unsubsidized loan funds. The regulations and provisions of the PLUS loan are subject to change by federal legislative action.

The Direct PLUS Loan is also 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.

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.

Kentucky Grant and Scholarship Programs

Kentucky Tuition Grant (KTG): The Kentucky Tuition Grant is available to Kentucky residents who demonstrate need upon filing the FAFSA and enroll full-time at an eligible private Kentucky college or university.*

College Access Program Grant (CAP): The CAP Grant is available to Kentucky residents enrolled at least half-time at a Kentucky college or university who have Pell Grant eligibility demonstrated by the FAFSA.*

*Students are encouraged to file the FAFSA as soon as possible after October 1 of the year before they are planning to attend, as funds are available on a first-come, first-served basis.

Kentucky Educational Excellence Scholarship (KEES): Students who attend and graduate from certified Kentucky high schools can earn a scholarship based on their grade point average (GPA) for each year of high school and a bonus award based on their highest ACT/equivalent SAT score achieved before graduating from high school. Students must have an annual 2.5 or higher high school GPA for the base amount of the scholarship and a 15 or above ACT or equivalent SAT score for the bonus award. The scholarship is renewable for each year of college. Students who do not meet the minimum GPA requirements and/or are not on track to graduate at the end of an academic year will forfeit all or a portion of the scholarship for the next year. Students may regain eligibility by reestablishing the minimum GPA.

Outside Sources (Civic Organizations, Business, Etc.)

Fast Web: Financial Aid Search through the Web. www.fastweb.com - A searchable database of more than 180,000 private sector scholarships, fellowships, grants, and loans. It provides useful information to students and parents.

CollegeNet: www.collegeboard.org - A free search sponsored by the CollegeNet. It contains links to colleges throughout the country.

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 for the proper certification of enrollment.

R.O.T.C. Scholarships: In order to support provision for the common defense of the United States of America, Asbury University has established room and board waivers for Reserve Officer Training Corps (ROTC) scholarship recipients. If a full-time student is an ROTC full scholarship recipient from any branch of the United States armed forces, he/she will receive a 100% waiver of standard room and board charges at Asbury University. If a full-time student receives a partial or percentage-of-tuition ROTC scholarship from any branch of the United States armed forces, he/she will receive an equal and corresponding percentage waiver of standard room and board charges at Asbury University. For example, a full-time student receiving a 50% of tuition Army ROTC scholarship will receive a 50% waiver of standard room and board charges at Asbury University. This policy is subject to review and change at any time by the Asbury University administration.

United Methodist Student Loan: Any United Methodist student who is registered as an at least half-time degree candidate at Asbury University may apply for a loan. Borrower must be an active, full member of a United Methodist Church for at least one year prior to application. Borrower must be at least 18 years of age to complete the application process. Borrower must be enrolled in an accredited school at least half-time. Borrower must have a cosigner for this loan. The cosigner will be contacted and required to complete a portion to the application. Borrower must comply with all requirements to include: all loan funds must be certified by your institution before funds are released to the school. For service credit, a student must contact the National Office of United Methodist Student Loans.

Applications are available online at www.gbhem.org. Funds are available on a first-come, first-served basis.

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.

Traditional Undergraduates find out more about Additional Scholarships, Awards and Grants .

Application for Financial Aid

PROCEDURE: In order to be considered for financial aid, you must file the FAFSA each year (www.studentaid.gov). For optimum consideration:

• Complete and submit a Free Application for Federal Student Aid (FAFSA) at www.studentaid.gov by October 1.
• Kentucky residents should file as soon as possible as state funds are limited and are available on a first-come, first-served basis.

General Policies & Notes

1. Requests for financial aid award eligibility must be made during the academic year for which the aid is intended. Students pursuing a second bachelor’s degree will receive federal or alternative loans based on remaining eligibility, and institutional aid. Unless otherwise noted the following rules apply to all institutional financial aid:
2. Students who enroll for fewer than 12 hours are not eligible to receive a scholarship, except in the case of last-semester-seniors who may receive scholarship and gift aid, but only in the appropriate percentage of the tuition charged.
3. Students are expected to complete their programs in four years (eight semesters). This means that students should carry an average of 16 hours per semester.
4. Students who enroll in an officially approved special/external program (Off-Campus Programs and Study Abroad  ) may receive University financial aid for the program. However, University financial aid will not be given to repeat the same special program.
5. Students in 3/2 programs where student will be completing senior year at another institution by articulation agreement [Engineering Mathematics at University of Kentucky (UK), Biology - Pre-Pharmacy major at UK, and Biology - Pre-Nursing major at UK or other approved School of Nursing] will have aid processed by the other institution when attending that institution following Asbury enrollment.
6. Student course load for Financial Aid purposes: Undergraduate students will be considered full-time, three-quarter-time, half-time, or less-than-half-time for any enrolled semester according to the following schedule of minimum semester hours:

8. In order to receive Asbury University institutional aid for the 2023-2024 school year, students enrolling in the Fall must have their files completed by September 1, 2023, and students enrolling in the Spring must have their files completed by February 1, 2024. 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. Aid awarded after the deadline will be based on availability of funds.

REPAYMENT POLICY: 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 any other state or non-Title IV programs. Full repayments of the cash disbursement amounts will be required if:

1. The student was not eligible to receive the funds when they were disbursed.
2. The student officially or unofficially withdraws from or is expelled by the University before the first day of classes for a payment period.
3. 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 the return of aid.

Financial Aid Refunds

A financial aid refund is different from a refund of tuition charges. For a discussion of a refund of tuition charges please refer to the “Expenses: Refunds” section that precedes the Financial Aid section. A financial aid refund is defined as unearned financial aid paid back to its source upon a student’s withdrawal from the University. Official withdrawal means that the student has notified the proper offices before leaving school. Unofficial withdrawal occurs when a student simply leaves school without notifying the proper offices. In this scenario the financial aid refund is calculated based on the midpoint of the enrollment period.

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 (or parent) borrower, the student (or parent) 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 Subsidized Loans
Direct PLUS Loans received on behalf of the student
Federal Pell Grants
Federal SEOG Grants
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:

1. Calculation of financial aid refunds is 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.
2. The date used in determining the 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 is given.
3. The following calculations are used for refunds:
   1. 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.
   2. 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 on 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: Kentucky Tuition Grant (KTG), College Access Program (CAP) grant, Kentucky Educational Excellence Scholarship (KEES), and the KHEAA Teach Scholarship follow the pro-rata policy for the cancellation of institutional charges and financial aid.

Satisfactory Progress for Undergraduate Students for Financial Aid

The Higher Education Amendments of 1986 mandate that all students receiving federal student aid funds be required to make measurable academic progress toward a degree.

The awarding of financial aid is based upon Satisfactory Academic Progress (SAP). SAP is comprised of both Quantitative and Qualitative components; a successful passing rate of all academic hours attempted and adequate cumulative grade point average. Full SAP policy can be found on Asbury’s website: www.asbury.edu/admissions-aid/financial-aid/academic-progress/.

Quantitative: The Financial Aid Office monitors the semester hours of students receiving aid to ensure that students are passing at least 67% of all hours attempted (registered hours, including withdrawn hours). Please see the chart below:

The quantitative element is cumulative as evidenced by the following example:

• A student considering dropping below 12 semester hours should contact the Financial Aid Office to discuss how such a change will affect financial aid.
• A student who drops below 12 semester hours per semester or fails a course is REQUIRED to contact the Financial Aid Office.
• The Registrar will regularly inform the Financial Aid Office concerning the enrollment status and academic progress of all students.

Courses with a grade of I, IP, F/FN, or W count as hours attempted, but not as hours earned. If a student subsequently receives a passing grade in place of one of these grades after academic progress has been evaluated, it is the student’s responsibility to notify the Financial Aid Office. Please see the example below:

In this example, in the first payment period (fall semester), the student would receive a Financial Aid Warning for completing less than the required minimum of 67% but would still be eligible to receive aid in the spring semester. At the end of the second payment period (spring semester), as the student has completed more than 67% of his cumulative hours attempted, he has achieved SAP. If the student were still under 67% at the close of spring, he would be placed on Financial Aid Suspension and be considered ineligible for aid for the next payment period.

• Transfer credits count both as hours attempted and hours earned.
• All repeated courses count as hours attempted, but only one of the courses counts toward completed credits. The highest grade attained will be used in the GPA calculation.
• Undergraduates may receive aid for a maximum of 150% of the published length of the educational program. Students enrolled full-time in a four-year program will be eligible to receive aid for a maximum of 12 semesters. Students who are not on track to earn their degree within the maximum timeframe will be denied aid.

[NOTE: Financial Aid requirements may vary from Academic requirements. Students may be cleared academically to register and continue enrollment, but not be eligible for financial aid.]

Qualitative: The Registrar’s Office monitors adequate cumulative grade point average (GPA) according to the following academic progress scale. Students who do not satisfy the academic progress scale outlined below are placed on academic probation for a semester.

Students who fail to satisfy the academic progress scale after a semester of academic probation may be allowed to continue for an additional semester of academic probation if it is determined that they are making suitable academic progress, or they may be placed on academic suspension and not allowed to enroll for one semester (not including summer).

Students placed on academic suspension shall forfeit all financial aid until such time as they are again meeting the minimum standards.

Students placed on academic suspension who are re-admitted will have the status of “suspended with permission to enroll.” They may register and continue without financial aid. At such time as these students reach the minimum academic standards, they will again be eligible for financial aid.

Reinstatement of aid is also dependent on availability of funds.

Evaluation of Satisfactory Academic Progress will be at the end of each payment period, including summer. If a student has not achieved SAP at the end of the first payment period, he/she will be given a Financial Aid SAP warning but will be eligible to receive financial aid for the next payment period.

If a student fails to achieve SAP in the payment period following the one for which he/she received a Financial Aid SAP warning, the student will be placed on Financial Aid SAP suspension and will not be eligible for financial aid.

Any student placed on academic suspension by Asbury University will automatically be on Financial Aid SAP suspension.

Students may have their financial aid reinstated without an appeal in the payment period following their successful attainment of the 67% cumulative course completion percentage and/or their successful attainment of the necessary GPA requirements.

Appeals for Financial Aid SAP suspension: Asbury University recognizes that students on Financial Aid SAP suspension may have extenuating circumstances. Appeals are welcome, and every effort will be made to give careful consideration to each appeal. If an appeal is granted, the student will be placed on Financial Aid SAP probation. This will be for one additional payment period only (unless an acceptable Action Plan has been created by the student’s faculty advisor), during which time the student must attain SAP. Appeals should be in writing, designated “SAP Appeal,” and sent to the Financial Aid Office at Asbury University. Each appeal must include a minimum of:

• An explanation as to why the student did not meet Satisfactory Academic Progress.
• A plan of action that will allow the student 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

Time Frame for Financial Aid - Undergraduate 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 academic program. The normal expected timeframe to complete Undergraduate degree programs at Asbury University is four years; therefore, a student may receive financial aid for a maximum of six years or 12 semesters at a full-time rate.

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 parents are sufficient to meet educational costs.
• 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 his/her tenth semester.

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 Associate 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.

Any appeal for reconsideration must be made to the Financial Aid Committee in writing. An interview may also be needed to clarify new information, or the presentation of documentation may be required for verification of data. In all cases, a student will receive a written response to his/her appeal from the Financial Aid Committee.