Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Pfeiffer University
Financial Aid Consumer Information Guide
1|
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Contents
Important Financial Aid Information......................................................................................................... 4
1.
Pell Grant Eligibility: ....................................................................................................................... 4
2.
Qualifying income for automatic zero (0) EFC reduced: .......................................................... 4
3.
Satisfactory Academic Progress (SAP) Appeal Changes:....................................................... 4
4.
Retaking Coursework: ................................................................................................................... 4
5.
FAFSA Process: ............................................................................................................................. 4
6.
Verification Changes:..................................................................................................................... 4
7. Loss of Subsidized Loan Eligibility for Graduate and Professional Students: .............. Error!
Bookmark not defined.
8.
Termination of Direct Loan Borrower Repayment Incentives:................................................. 4
9.
Increased Interest Rate for Federal Direct Subsidized Loans: ............................................... 4
Applying for Financial Aid ......................................................................................................................... 5
Reviewing your Financial Aid Award ....................................................................................................... 6
How to find your Financial Aid Award ................................................................................................. 6
Misenheimer Campus ........................................................................................................................ 6
Charlotte Campus .............................................................................................................................. 6
Satellite Graduate Students:............................................................................................................. 6
What’s Next? ........................................................................................................................................... 6
What’s Coming? ..................................................................................................................................... 7
A Look at Your Award Letter .................................................................................................................... 7
Interpreting your Award Letter .............................................................................................................. 7
Tuition and Mandatory Fees ................................................................................................................... 11
Room Charges.......................................................................................................................................... 11
Meal Plan Charges................................................................................................................................... 11
Special and Laboratory Fees ....................................................................................................................... 12
Cost of Attendance of 2015-16 .............................................................................................................. 13
Full-Time Budgets ................................................................................................................................ 13
Financial Aid Awards ............................................................................................................................... 13
How Eligibility is Determined .............................................................................................................. 13
How Aid is Awarded ............................................................................................................................. 14
2|
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Work-Study............................................................................................................................................ 14
When The Award Amount May Not Be Enough .................................................................................. 15
Scholarships.......................................................................................................................................... 15
Sources of Additional Aid .................................................................................................................... 15
What Your Costs Will Be ......................................................................................................................... 16
Loan Information....................................................................................................................................... 18
Federal Direct Loans ........................................................................................................................... 18
Direct Subsidized/Unsubsidized Loan Repayment Plans .............................................................. 19
Terms & Conditions of your Financial Aid Offer .................................................................................. 24
Receiving your Financial Aid (Disbursement) .................................................................................. 24
How Will I Receive My Aid? ............................................................................................................ 24
When Will I Receive My Aid? ......................................................................................................... 24
Satisfactory Academic Progress (SAP) Policy .................................................................................... 25
Financial Aid Appeals Process........................................................................................................... 25
Withdrawals and Return of Title IV Aid ................................................................................................. 33
Reapplying For Aid................................................................................................................................... 33
You Must Reapply for Financial Aid Each Year .............................................................................. 33
Applying for 2015 Summer Aid ...................................................................................................... 33
Applying for 2015-16 Fall/Spring Aid ............................................................................................. 33
Special Circumstances .................................................................................................................... 33
Pfeiffer University ..................................................................................................................................... 37
Financial Aid Staff ................................................................................................................................ 37
3|
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Important Financial Aid Information
1.
Pell Grant Eligibility: The duration of the Federal Pell Grant Eligibility has been reduced to
the equivalent of 12 full-time semesters. The maximum Pell grant for 2015-16 is $5775.
2.
Qualifying income for automatic zero (0) EFC reduced: The automatic zero EFC
is a status where, because of low income, a student automatically has a zero EFC. For the 20152016 award year the income threshold for an automatic zero EFC is $24000.
3.
Satisfactory Academic Progress (SAP) Appeal Changes: Students on academic
probation and continued probation are automatically suspended from Financial Aid which the
student is eligible to appeal by submitting a letter of appeal academic plan and as much
supporting documentation as possible highlighting what happened during the respective
semester. Students must complete the appeals process each semester they are on probation.
More about the University SAP process can be found here: Misenheimer Students, Graduate
Students & Adult Studies Students.
4.
Retaking Coursework: Federal regulations limit the eligibility for Title IV Federal Aid due to
repeated courses. Students may only receive Title IV Federal Aid for the first retake of a
previously passed course. In addition, any subsequent retakes (after the first) of a previously
passed course will not count towards the student’s actual enrollment for Title IV funding
purposes.
5.
FAFSA Process: The IRS Data Retrieval tool was implemented to help assist students and
their families in completing their FAFSA by importing their information directly from their Federal
Tax Return. We urge our students and families to file there Federal Taxes and then complete
their FAFSA using the IRS Data Retrieval Tool. Please note: applicants who amend their tax
return will not be able to use the tool.
6.
Verification Changes: All students (and parents) whose FAFSA(s) were selected for
Verification are required to submit an IRS tax Return Transcript for Income Verification as
mandated by the Department of Education. Tax transcripts are can be obtained from the IRS
website: www.irs.gov, or by calling 1.800.829.1040. Typically it takes 5-10 business days for
families to receive their tax transcripts once requested. Students (and parents) can also visit
there local IRS Office to help expedite the process.
7.
Termination of Direct Loan Borrower Repayment Incentives: Effective for all
loans disbursed on or after July 1, 2012, the Department of Education no longer offered
repayment incentives to Direct Loan Borrowers, including any reduction in the interest rate or
origination fee. The law continues to allow the Department of Education to offer interest rate
reductions to Direct Loan borrowers who agree to have payments automatically debited from a
bank account.
8.
Increased Interest Rate for Federal Direct Subsidized Loans: Effective July 1,
2015 all Direct Loans made for Undergraduate and Graduate students will have a fixed interest
rate of 4.29%.
4|
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Applying for Financial Aid
Pfeiffer Universities Federal School Code is: 002955
The most important step in the financial aid process is applying using the Free Application for Federal
Student Aid (FAFSA). This form must be completed online at www.fafsa.ed.gov and should be submitted
as soon as possible (once your Federal Taxes are filed) after January 1st of each year. In order to
electronically sign and submit the FAFSA, each student and parent must have an FSA ID which serves as
an electronic signature. First time applicants or those who do not have or have forgotten their ID can
(re)apply for one by visiting www.fsaid.ed.gov. Once an ID has been issued, it remains the same
throughout the student’s (and parents) collegiate careers. For more information on the FAFSA process,
please visit https://fafsa.ed.gov/contact.htm.
Pfeiffer’s priority deadline for completing the FAFSA is March 1st. Financial aid is awarded on an annual
basis, and students must complete the FAFSA each year to be considered for Federal and State
Financial aid.
Once the FAFSA is received and processed, the Department of Education will provide the applicant with
at Student Aid Report (SAR), and Pfeiffer University will receive an electronic copy of this statement. This
report will include the student’s Expected Family Contribution (EFC). The EFC is calculated using a
standard formula established by Congress, and is used as a measure of a family’s financial ability to
contribute to educational expenses. The Financial Aid office will use this number to construct your
financial aid package.
The Department of Education and/or Pfeiffer University may select Undergraduate students for a process
called verification. This means selected students will have to prove the information they reported on their
FAFSA is correct. If selected, students may be asked to verify: High School Completion (by submitting a
copy of their Final High School Transcript showing Graduation Date, GED, State Exam, and/or a
Transcript of 2-year Program with Credit toward a Bachelor’s degree), homeschooled students may
submit a transcript or the equivalent signed by the parent or guardian that lists the courses completed, or
a secondary school completion credential for home school.
In addition Dependent students must submit:
1. Student’s 2014 Federal IRS Tax Transcript –or- complete Federal IRS Data Retrieval
2. Parents 2014 Federal IRS Tax Transcript – or – complete Federal IRS Data Retrieval
3. All w2’s, 1099’s and supporting schedules
In addition Independent students must submit:
1. Student’s/Spouse 2014 Federal IRS Tax Transcript –or- complete Federal IRS Data Retrieval
2. All w2’s, 1099’s and supporting schedules
Sometimes the application process does not reflect a family’s real situation due to special circumstances
such as death, divorce or separation, disability, loss of employment, natural disasters, etc. If such a case,
Financial Aid Counselors may use their “professional judgment.” Please notify us if you feel that there are
special circumstances we should consider when reviewing your application.
5|
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Reviewing your Financial Aid Award
How to find your Financial Aid Award
Misenheimer Campus
o Incoming Undergraduate Freshman Class: Once we receive your FAFSA, we will put
your award letter together and mail it to you along with any other documentation that is
needed (notice of Verification, Master Promissory Note, Entrance Counseling, etc). As
well as the Student Borrowers Rights & Responsibilities information, Cost of Attendance,
and other important information. Most of which can be found
http://www.pfeiffer.edu/university/financial-aid/undergraduate-students/financial-aidforms; anything that isn’t there will be distributed to you with your award letter.
o Current Undergraduate Continuing Students: Once we receive your FAFSA we will
put your award letter together and email it to your my.pfeiffer.edu email address along
with any other documentation that is needed.
Charlotte Campus
o Adult Undergraduate & Graduate Students: Once we receive your Official Acceptance
through the Admissions Office (for New students only), FAFSA, Pfeiffer Aid Application,
Direct Loan Request form (and any other documentation that is necessary) your award
letter will be mailed to you via USPS. Most of these documents can be found at
 Adult Undergraduate Students: http://www.pfeiffer.edu/university/financialaid/adult-undergraduate-students/financial-aid-forms
 Charlotte Graduate Students: http://www.pfeiffer.edu/university/financialaid/graduate-students/financial-aid-forms
Satellite Graduate Students: Once you have been accepted through the Admissions Office (for new
Students only) & we have received your FAFSA, Pfeiffer Aid Application, Direct Loan Request form (and
any other documentation that is necessary) your award letter will be emailed to you. Most of these
documents can be found at http://www.pfeiffer.edu/university/financial-aid/graduate-students/financial-aidforms
What’s Next?
Carefully read your award letters as well as this document for information about the award that you have
been offered and how your award package was determined. Then:



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If you accept all awards offered, sign the second page of your award letter and return as
indicated. (Misenheimer Campus you can drop your signature page off at the Financial Aid
office, fax to 704.463.1363, or scan and email to financial.aid@ pfeiffer.edu. Charlotte Campus
you can drop your signature page off at the Charlotte Campus Financial Aid Office, fax it to
704.945.7330 or scan and email to financial.aid@pfeiffer.edu. Satellite Graduate Students you
can fax your signature page to 704.463.1363, or scan and email to financialaid@pfeiffer.edu.
If you wish to make changes to any awards listed Undergraduate Students please mark
appropriately on your signature page “I accept, I accept all with the exception of or I decline all”,
sign and return as listed above. Graduate Students if you wish to change your loan amount,
please contact your Financial Aid office for the best way to move forward.
Make sure to notify our office(s) of any additional aid awards (scholarships, third party, veteran’s
benefits) you are receiving that aren’t listed on your award letter.
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
What’s Coming?



If your aid is reduced at any time we will make the appropriate changes to your account.
Which you will always be able to view at my.pfeiffer.edu.
Be sure to check your my.pfeiffer.edu email on a daily basis as this is how we will
communicate with you to ensure that your financial aid is processed accurately and
efficiently throughout the year.
Complete/Sign all applicable promissory notes:
o If you are a first-time Direct Loan borrower, you MUST complete a Loan Entrance
Counseling and/or a Direct Loan Master Promissory Note (MPN).
o To complete the Direct Loan Master Promissory Note and/or Loan Entrance
Counseling you MUST go online to www.studentloans.gov and log in using the
same PIN that you used to sign your FAFSA.
A Look at Your Award Letter
Interpreting your Award Letter
Be sure to read both pages of your award letter carefully. The letter can be divided into the following
sections:
Awards: This section lists the financial aid awards you are being offered based on your financial need,
enrollment status, class level and residency. A chart listing Pfeiffer Universities major financial aid
programs is located under “Major Financial Aid Programs”
Missing Documents (found on updated or revised award letters): This section contains all documents that
have not yet been received and are necessary for processing your Federal Student Aid. Copies of all
documents as well as an explanation of each are found under “Financial Aid Documents and Forms”.
Remember certain types of aid are only available to Undergraduate students and some are only available
if you are taking a full time course load. Financial Aid may be adjusted or cancelled if enrolled less than
full time (less than 12 credits for an Undergraduate Student and less than 6 credits for a Graduate
student)
Examples of a Financial Aid Award Letters
7|
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Dear,
We are pleased to provide notification of your 2015-16 financial aid eligibility.
Please read the enclosed materials for complete information about the terms and conditions of
the financial aid awards. In addition to the signed award letter, you should also complete and
return forms required for specific awards.
Source
FALL MC
SPRING -
Total
Presidential Scholarship
$6,000
$6,000
$12,000
Federal Pell Grant
$1,313
$1,312
$2,625
Faculty / Staff Tuition Rebate
$2,607
$2,606
$5,213
Falcon Returner Scholarship
$131
$131
$262
Federal Direct Subsidized Loan
$2,250
$2,250
$4,500
Federal Direct Unsubsidized Loan
$3,000
$3,000
$6,000
NC Need-Based Grant
$3,050
$3,050
$6,100
Federal Work-Study
$750
$750
$1,500
-------
-------
-------
$19,101
$19,099
$38,200
Total
= federal award
The award you are receiving could be based, at least in part, on the information you have
provided on the Free Application for Federal Student Aid (FAFSA). A portion of the above listed
award could change IF information on the FAFSA changes or additional money is received.
The awards listed in your package from federal or state funds are tentative pending final
allocation from the Department of Education and the state of North Carolina. If you receive
8|
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
athletic scholarship from the University that is not reflected on this award letter, you may not be
eligible for all current funding listed.
Please return the signature page advising us of those awards you are accepting and those you
are declining along with any enclosed paperwork within 30 days from the date of this letter.
After 30 days the award is subject to cancellation. If you have not paid your $150 tuition deposit
through the Admissions Office, please do so as soon as possible.
Our office is very excited about working with you and your family as you pursue your
educational goals. Remember we are here to assist you as you go through the process of
making your college decision. Do not hesitate to contact us at any time with questions. Our
number is (800) 338-2060 option #2.
9|
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
PLEASE COMPLETE THIS SECTION AND SEND ALL PAPERWORK TO THE FINANCIAL
AID OFFICE AT:
Pfeiffer University
PO Box 960
Misenheimer, NC 28109
I understand and accept the following statements:
1. I must report any previously unreported financial assistance from outside sources and
understand that additional aid may result in the adjustment to the aid offered.
2. I authorize Pfeiffer University to apply all of my financial aid funds to tuition, room, board and
other related educational expenses as billed by the University.
3. I understand that Pfeiffer University retains the interest that may accrue on Federal financial
aid funds held in a general account before being applied to my account.
4. My Pfeiffer scholarship(s) may be funded in full or in part by one or more endowed
scholarships. In accepting these funds, I agree to write an expression of thanks to the
appropriate donor(s) when information is provided at a later date.
5. I also understand that work-study appears on my award letter because I appear to meet the
qualifications for the program. However, it IS NOT a guarantee of a job. Work-study
assignments are made on the availability of jobs.
___ I accept the financial aid awards as listed
___ I decline all awards listed
___ I accept all awards with the exception of
Student Signature
________________________________________ Date ____________________
10 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Per Semester
Per Year
Per Credit Hour
$13100
$0
$0
$26200
$0
$0
$0
$598
$598
$462.50
$925
$150
$0
$0
$0
$207.50
$0
$0
$415
$415
$415
$0
$0
$0
$640
$0
$0
$640
$0
$207.50
$0
$415
$640
$0
Per Semester
Per Year
$2875
$3718
$4175
$5750
$7436
$8350
Flex Dollars/Semester
Price Per Semester
Price Per Year
$180
$100
$225
$375
$2387.50
$2192.50
$2192.50
$2337.50
$4775
$4385
$4385
$4675
Misenheimer Campus
Full Time (12-19 credits)
Part Time (6-11 credits)
Overload Tuition (20
and higher credits)
Comprehensive Fee
Orientation Fee
Adult Studies
Students
Full Time (12-19 credits)
Part Time (6-11 credits)
Technology Fee
Graduate Students
Traditional Classroom
Delivery
Regional/Satellite
Campuses
Online Delivery
Technology Fee
Room Charges
Misenheimer Campus
Double Occupancy
Private Room
New Hall
Meal Plan Charges
Misenheimer Campus
19 Meals
17 Meals
14 Meals
14 Meals
11 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Special and Laboratory Fees
Per Semester
Misenheimer Campus
Audit Fee
Challenge Exam Fee
Private Music Lesson
Advanced Tuition
Deposit
Advance Residence
Hall Deposit
Application Fee
Car Registration &
Parking Permit
Late Payment Fee
Late Registration Fee
Returned Check Fee
(per check)
Transcript Request
Transcripts – Faxed
Graduate Students
Audit Fee
Readmission Fee
Late Payment Fee
Late Registration Fee
Graduation Fee
MMFT Lab Fee
Returned Check Fee
(per check)
Transcripts
Transcripts – Faxed
12 |
Per Semester
$100
$299
$150
$150
Adult Undergrad
Students
Audit Fee
Directed Study
Application Fee
Readmission Fee
$395
$365
$60
$60
$100
Late Payment Fee
$60
Late Registration Fee
Returned Check Fee
(per check)
Transcripts
Transcripts – Faxed
Graduation Fee
$100
$25
$50
Part of comprehensive
fee
$100
$75
$25
$8
$15
$125
$8
$15
$575
$75
$100
$75
$95
$125
$25
$8
$15
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Cost of Attendance
Full-Time Budgets
Misenheimer Campus
On Campus
Off Campus – not with
parents
Off Campus – with
parents
Adult Undergraduate
Students (12
credits/semester)
Charlotte Graduate
Students (6
credits/semester)
Satellite Graduate
Students (6
credits/semester)
Online Students (6
credits/semester)
Per Semester
Academic Year
$20319.50
$20319.50
$40639
$40639
$17688.50
$35377
Financial Aid Awards
How Eligibility is Determined
Financial aid programs were created based on the idea that the primary responsibility of paying for
college rests with the student and his or her family. Need-based financial aid is available to families that
demonstrate a financial need for additional resources. The formula below is used to determine how much
financial need a student has:
Cost of Attendance – Expected Family Contribution (EFC)=Financial Need
Cost of Attendance is the estimated cost of attending Pfeiffer University for an entire academic year (two
semesters-Fall and Spring). This figure includes estimated amounts for tuition and fees, books and
supplies, room and board and personal/miscellaneous expenses.
Expected Family Contribution (EFC) is the amount of your family’s financial resources that should be
available to help you pay for your education. It is calculated form the information you reported on the
Free Application for Federal Student Aid (FAFSA) and according to a formula established by law.
13 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
How Aid is Awarded
Your need for financial aid is calculated based on the total Cost Attendance minus your EFC. In order to
meet a percentage of your need the Financial Aid Office first awards any federal and state grants and
scholarships for which you are eligible (i.e. Pell Grants, North Carolina Need Based Grant). If funds are
available at the time of awarding Work-Study is then added to your aid package, as well as any
Institutional (Academic and/or Athletic) scholarships that you may be eligible for. Federal direct loans are
also added to your aid package. The Financial Aid Office attempts to award grant loan and Work-Study
funds equitably amount all eligible applicants who apply by the priority deadline. Award amounts are
determined by a combination of financial need, federal award limits, and available funding, among other
factors. If federal and state grants and Institutional Scholarships are not enough to cover a percentage of
student need then the Founders Grant is added to cover the difference.
Work-Study
Work-Study provides eligible students another means of meeting their financial obligations to the
University. It is a beneficial program that allows students to gain valuable experience and networking
opportunities. The Work-Study program allows eligible students to be employed in departments all over
the University; Athletics, Housing, Student Activities, Registrar, Fitness Center, Admissions Office,
Financial Aid Office and the Business Office are some examples; some even work in community service
jobs. An award of Work-Study means that you can compete for the advertised jobs online. It is not a
guarantee of a Work-Study position; jobs are limited.
Eligible Students must:




Complete the Free Application for Federal Student Aid (FAFSA) for the current academic year
Be a full time (12 credit hours or more) undergraduate student in a degree-seeking program; if
you drop below 12 credit hours, please contact the Financial Aid Office immediately.
Demonstrate financial need
Be making Satisfactory Academic Progress (SAP per the college catalog and have a minimum of
a 2.0 GPA to participate in the work-study program
Work-Study students are to work no more than 7 hours a week or a total of 20 hours per month without
prior permission from the Financial Aid Office. Students who exceed these hours may be asked to stop
working prior to the end of the semester due to lack of funds based on their personal allocations.
Work-Study students get paid $7.25/hour, pay checks are issued once/month around the 10th of each
month. Work-Study students are responsible for filling out accurate time sheets, having there
supervisiors sign and turning them into the Financial Aid Office by the 2 nd of each month to ensure that
your time sheet will be processed appropriately. You will be notified by the Financial Aid Office when/if
you get close to your semester allotment reminding you that you need to adjust your future schedule
appropriately. You will also be notified by the Financial Aid Office when it is time to stop working
(because you have reached and possibly exceeded your allotment for the semester). Students who do
not stop working when advised will not be paid for hours worked. Information about our work-study
program can be found: http://misenheimer.pfeiffer.edu/misenheimer/student-life/campus-employment
14 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
When The Award Amount May Not Be Enough
Scholarships
While every attempt is made to meet a student’s financial need, funds are limited and a student may
require additional funds to cover their expense. Students may wish to first consider applying for external
scholarshps:
External Scholarships are provided by various off-campus agencies and organizations. We encourage
you to apply early and adhere to the scholarship application duties. Applications for these outside
scholarships can be obtained by visiting the agencies websites.
Scholarship Scams When searching for financial assistance, be aware of scholarship fraud. There are
many private entities that offer scholarship search services, but these services are not assessed by the
Department of Education. When using these services it is recommended to contact the Better Business
Bureau or your state attorney general’s office to check the provider’s creditability. You can search for
scholarships for free at www.studentaid.ed.gov or www.students.gov.
Some signs of a scholarship scam are:





If it states “The scholarship is guaranteed or your money back.”
If it states “You can’t get this information anywhere else.”
If it asks for your credit card of bank account information.
If it states that you are a finalist in a contest that you never entered.
If it indicates that you have been selected by a “national foundation” to receive a scholarship.
Sources of Additional Aid
After exploring the option of applying for scholarships, some students’ financial need still may not be met.
Students who still require additional funds may wish to consider the following alternative options:



15 |
Parent Loans for Undergraduate Students (PLUS) Loan Parents of undergraduate dependent
students can borrow from the Parent Loans for Undergraduate Students (PLUS) Loan program to
help pay educational costs fi the student is enrolled at least half-time (6 credits) and making
Satisfactory Academic Progress (see “Satisfactory Academic Progress” section for more
information). PLUS loans are credit based. Note: if a parent and/or guardian of a dependent
student receive a denial notice from Direct Loans for a PLUS Loan, the student may request and
receive additional Unsubsidized Loan monies.
CASHNET Payment Plan This plan is coordinated with the Business Office. You can contact
them directly at 704.463.3019.
Alternative Student Loans
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
What Your Costs Will Be
Your award notice lists an ESTIMATED cost of attendance used to calculate your financial aid awards;
however, we recommend that you create your own cost of attendance budget and determine the
resources you will need to meet your actual expenses. Please see “Estimated Cost of Attendance” and
use the worksheet below to calculate your budget and the amount you and your family will need to
contribute or borrow for the Academic year.
16 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Fall & Spring
Tuition & Fees (Please review schedule of fees at)
Misenheimer Students: http://www.pfeiffer.edu/university/financialaid/undergraduate-students/2014-2015-tuition-and-fees
Graduate Students: http://www.pfeiffer.edu/university/financialaid/graduate-students/2014-2015-tuition-and-fees
Adult Study Students: http://www.pfeiffer.edu/university/financialaid/adult-undergraduate-students/2014-2015-tuition-and-fees
Estimated Amount
$
Room & Board (if you are living on campus, please review housing
charges online at http://www.pfeiffer.edu/university/financialaid/undergraduate-students/2014-2015-tuition-and-fees. If you are
living off campus be sure to include your rent, security deposit, utilities,
groceries and restaurant/carry out expenses) +
Books & Supplies +
Personal/Miscellaneous (Think about what your actual expenses will be;
include long distance or cell phone bills, extracurricular activities and
personal hygiene items. Set a weekly allowance that is economical, yet
realistic.)
Total Estimated Cost of Attendance
Awards Listed on your Award Letter
Grants
Scholarships
Other (veteran's benefits, etc)
Balance of Extimated Expenses that Need to be Paid
Loans Offered on your Award Letter
Federal Direct Subsidized Stafford Loan
Federal Direct Unsubsidized Stafford Loan
The "Bottom Line" (What you and your Family Will Need to Pay)
Amount You/Your Family Can Contribute:
Parents
Students (from savings, earnings)
Work-Study Award (see award letter)
Other Sources (gifts, grandparents, etc)
+
=
=
=
-
Need for PLUS Loan or Private Education Loan (Please note that you
must apply separately for the PLUS loan and private education loans.
For Federal Direct Plus Loan Application information, visit
http://www.pfeiffer.edu/university/financial-aid/undergraduatestudents/loans =
17 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Loan Information
Federal Direct Loans
Federal Direct Loans are for Undergraduate and Graduate Students. There are two major type of Federal
Direct Loans: Subsidized and Unsubsidized.
Subsidized Federal Direct Loans provide low interest rates and are available to undergraduate students
who have financial need. A credit check is not required to receive these loans. The federal government
pays the interest on these loans until six months after the student is no longer enrolled in school at least
half-time.
Unsubsidized Federal Direct Loans provide low interest rates and are available to all students
regardless of financial need. A credit check is not required to receive these loans. The student is
responsible for the interest, which may be paid while the student is in school or accrued and then added
to the principal balance when the student enters repayment. Repayment begins six months after the
student is no longer enrolled in school at least half-time.
Independent &
Dependent Students
whose parents can't
Subsidized Unsubsidized get PLUS total
First Year (Undergraduate)
$3,500
$5,500
$9,500
Second Year (Undergraduate)
$4,500
$6,500
$10,500
Third Year & Beyond
(Undergraduate)
$5,500
$7,500
$12,500
Maximum Total Debt
(Undergraduate)
$23,000
$31,000
$57,500
$20,500 (As of July 2012,
subsidized loans are no
longer available to
Graduate and Professional
Graduate Students Degree Students.)
$138,500 (graduate debt
limit includes loans
received for
Maximum Total Debt (Graduate) undergraduate study)
Federal Direct Loan Fees Federal Direct Loan awards have origination fees (beginning July 1, 2015) on
1.073% on Federal Direct Subsidized and Unsubsidized Loans and a 4.292% fee on Federal Direct
Parent Plus Loans. Because of these fees, the actual Direct Loan amounts applied to your university bill
will be lower than on your award notice.
Federal Direct Parent Plus Loans Parents who wish to apply for the Plus Loan must go through a credit
check and complete a Federal Direct Loan Master Promissory Note and application (in addition to the
18 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
accepted credit check) at www.studentloans.gov . Parents please make sure to log-in with fsa login (the
same from your student’s FAFSA) and information when filling out these forms.
Direct Subsidized/Unsubsidized Loan Repayment Plans
There are several options students can choose from when it comes time to start repayment. These plans
allow students to easily transition into repayment and allow them to select a plan that fits their financial
situation. Typically, students have 10 to 25 years to repay their loan, depending on which repayment plan
they choose. During repayment, students may be able to change to another plan. Below is an example
of the various plans available to a student entering repayment.
Repayment charts found at: http://studentaid.ed.gov/repay-loans/understand/plans
Repayment Plan
Standard Repayment Plan
Eligible Loans
Direct Subsidized
and Unsubsidized
Loans
Subsidized and
Unsubsidized
Federal Stafford
Loans
Monthly Payment &
Time Frame
Payments are a
fixed amount of at
least $50/month
Up to 10 Years
Quick
Comparison
You'll pay less
interest for your
loan over time
under this plan
than you would
under other
plans.
All PLUS Loans
Direct Subsidized
and Unsubsidized
Loans
Graduated Repayment Plan
Subsidized and
Unsubsidized
Federal Stafford
Loans
Payments are lower
at first and then
increase, usually
every two years.
Up to 10 Years
You'll pay more
for your loan
over time than
under the 10year standard
plan.
All PLUS Loans
19 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Direct Subsidized
and Unsubsidized
Loans
Payments may be
fixed or graduated
Extended Repayment Plan
Subsidized and
Unsubsidized
Federal Stafford
Loans
Up to 25 years
All PLUS Loans
20 |
Your monthly
payments would
be lower than the
10-year standard
plan.
If you are a Direct
Loan Borrower
you must have
more than
$30,000 in
outstanding
Direct Loans.
You'll pay more
for your loan
over time than
under the 10year standard
plan.
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Repayment Plan
Eligible Loans
Direct Subsidized
and Unsubsidized
Loans
Subsidized and
Unsubsidized
Federal Stafford
Loans
Income-Based Repayment Plan
(IBR)
Consolidation Loans
(Direct or FFEL) that
do not include
Direct or FFEL PLUS
loans made to
parents
Monthly Payment &
Time Frame
Quick
Comparison
Your payments
change as your
income changes up to 25 years
You must have a
partial financial
hardship.
Your maximum
monthly payments
will be 15 percent
of discretionary
income, the
difference between
your adjusted gross
income and 150
percent of the
poverty guideline
for your family size
and state of
residence (other
conditions apply)
Your monthly
payments will be
lower than
payments under
the 10-year
standard plan.
If you have not
repaid your loan
in full after
making the
equivalent of 25
years of
qualifying
monthly
payments, any
outstanding
balance on your
loan will be
forgiven.
You may have to
pay income tax
on any amount
that is forgiven
21 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Repayment Plan
Eligible Loans
Direct Subsidized
and Unsubsidized
Loans
Monthly Payment &
Time Frame
Quick
Comparison
Your payments
change as your
income changes up to 20 years
You must have a
partial financial
hardship.
Your monthly
payments will be
lower than
payments under
the 10-year
standard plan.
Pay As You Earn Repayment Plan
Consolidation Loans
(Direct or FFEL) that
do not include
Direct or FFEL PLUS
loans made to
parents
Your maximum
monthly payments
will be 10 percent
of discretionary
income, the
difference between
your adjusted gross
income and 150
percent of the
pvoerty guideline
for your family size
and state of
residence (other
conditions apply)
You'll pay more
for your loan
over time than
you would under
the 10-year
standard plan
If you have not
repaid your loan
in full after
making the
equivalent of 20
years of
qualifying
monthly
payments, any
outstanding
balance on your
loan will be
forgiven.
You may have to
pay income tax
on any amount
that is forgiven
22 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Repayment Plan
Eligible Loans
Direct Subsidized
and Unsubsidized
Loans
Income-Contingent Repayment
Plan
Direct Plus Loans
Made to Students
Monthly Payment &
Time Frame
Your payments
change as your
income changes up to 25 years
Payments are
calculated each
year and are based
on your adjusted
gross income,
family size, and the
total amount of
your Direct Loans.
Direct Consolidation
Loans
Subsidized and
Unsubsidized
Federal Stafford
Loans
FFEL Consolidation
Loans
23 |
If you do not
repay your loan
after making the
equivalent of 25
years of
qualifying
monthly
payments, the
unpaid portion
will be forgiven.
You may have to
pay income tax
on the amount
that is forgiven.
Your monthly
payment is based
on annual income up to 10 years
You'll pay more
for your loan
over time than
under the 10year standard
plan.
Your payments
change as your
income changes
Each lenders
formula for
determining the
monthly payment
amount under
this plan can
vary.
Income-Sensitive Repayment Plan
FFEL Plus Loans
Quick
Comparison
You'll pay more
for your loan
over time than
under the 10year standard
plan.
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Terms & Conditions of your Financial Aid Offer
Receiving your Financial Aid (Disbursement)
How Will I Receive My Aid?
1. Direct Application to your University Student Account Grants, Scholarships, and
loans administered by the Financial Aid Office are first applied directly to your University
student account to pay charges for tuition, fees, room, board and other university
charges. Financial aid awarded for a specific term can only pay for charges for the same
term.
2. Aid That Exceeds Your University Student Account Charges Students whose
financial aid exceeds the charges on their university student account will receive a refund
to pay other educationally related expenses. Your refund will be available in the form of a
check to pick up. The Business Office will email you to let you know when your refund
check is available and where it can be picked up.
3. Work-Study Employment – more information is available online at
http://misenheimer.pfeiffer.edu/misenheimer/student-life/campus-employment
a. Work-Study awards reflect an amount that may be earned through campus
employment. The checks are process once/month as explained in the WorkStudy handbook and pay schedule.
b. Students who have been awarded Work-Study will need to attend a Work-Study
orientation. Dates and details will be sent to the students my.pfeiffer.edu email
account
4. Private Scholarship Checks
a. If your scholarship check is sent to the University, it will be directly applied to
your university student account, one-half for the Fall Semester and one-half for
the Spring semester, unless otherwise specified by the scholarship provider. If
the payment creates a credit balance on your university student account, the
credit will be refunded to you as explained above.
b. If your scholarship check is sent directly to you, but is made out to the University,
you should submit the check to the Financial Aid Office for processing.
c. If your scholarship check is sent directly to you, and is made co-payable to you
and the University, endorse the check and submit it to the Financial Aid Office.
d. If your check is sent to you and made payable to you, it is your responsibility to
report this resource to the Financial Aid Office and to apply any funds necessary
to your University student account.
When Will I Receive My Aid?
The refund process will begin approximately seven working days after all financial aid (Grants,
Scholarships and Loans) have been disbursed to a student’s account. Notifications will be sent to
students via their my.pfeiffer.edu email accounts once refunds have been processed. Refunds are given
only after all University obligations are paid in full.
24 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Satisfactory Academic Progress (SAP) Policy
Pfeiffer University is required by federal regulations to adhere to minimum standards of Satisfactory
Academic Progress (SAP) that relate to a student’s eligibility for federally funded financial aid programs,
state and institutional grants, scholarships, employment, and loan programs. Students must meet
minimum SAP standards in order to receive and to maintain eligibility for Title IV Funds. The SAP
standards apply to all students in degree seeking programs of study who wish to be considered for
financial aid. SAP is a qualitative as well as a quantitative measurement of courses attempted and
courses completed.
Satisfactory academic progress (SAP) towards Pfeiffer University degree will be determined by the Office
of the Registrar at the end of every semester based on students’ qualitative and quantitative progress at
Pfeiffer.


Qualitative progress is based on-grade point average or GPA
Quantitative progress refers to time or credits attempted per the Undergraduate and Graduate
Academic Standing Scales below.
Note: when a student changes majors, all of the courses in the previous major will also be included in the
student’s SAP calculation.
Students’ academic standings are listed and defined below – including Academic standing notations
applying to the following term.
25 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Undergraduate Students Academic Standings
Good Standing is defined as progressing towards graduation with a GPA of 2.0 or greater, or at or above
the level indicated on the Undergraduate Academic Standing Scale. Financial assistance continues for
a student in this status.
Academic Warning (AW) is defined as progressing towards graduation with an overall GPA that is below
the Undergraduate Academic Standing Scale. Financial Assistance will be granted for one semester
during which a student is on academic warning.
Academic Probation (AP) is given to students who after one term on Academic Warning are not making
satisfactory progress towards graduation per the Undergraduate Academic Standing Scale. An
academic probation period consists of two academic terms: 1-Academic Probation (A1) and 2-Second
term of Academic Probation (A2)
Students with AP status must agree to follow an Academic Plan to avoid academic suspension.
*Academic Suspension Students who fail to meet their Academic Plan and improve their GPA to at least
the level indicated in the Undergraduate Academic Standing Scale, will be placed on Academic
Suspension. Academic Suspension is limited to one in the student’s career.
Academic Dismissal An Academic Dismissal is a permanent and irrevocable suspension from the
University.
Undergraduate Academic Standing Scale
Hours Attempted **
GPA
1-15 1.3
16-31 1.5
32-47 1.75
48-60 1.99
61+ 2
**Hours Attempted=Non-Activity Hours attempted at Pfeiffer plus hours of transfer credits accepted
towards the student’s program
26 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Graduate Students Academic Standings
Good Standing is defined as progressing towards graduation with a GPA of 3.0 or greater, or at least at
the level indicated in the Graduate Academic Standing Scale. Students in Good Standing should meet
with their advisory a minimum of one time during the semester.
Academic Warning (AW) is defined as progressing towards graduation with an overall GPA that is below
the Graduate Academic Scale. Students who have AW status should meet with their academic
advisor(s) a minimum of two times during the semester.
Academic Probation (AP) is given to students who after one term on Academic Warning are not making
satisfactory progress towards graduation per the Graduate Academic Scale. An academic probation
period consists of two academic terms: 1-Academic Probation (A1) and 2-Second term of Academic
Probation (A2).
Students with AP status must agree to follow an Academic Plan to avoid academic suspension. The
Academic Plan is a signed contract between the student and the Office of the Associate Vice President
for Academic Affairs. Students in this situation must meet all of the conditions contained in the
contract.
A grade of “C” in a graduate program, places the student on academic peril. Students are recommended
to repeat a “C” grade immediately to avoid the further lowering their Grade Point Average (GPA). If the
course is not available the next term, the student should repeat the course as soon as it is available.
Only one “C” grade is allowed towards graduation.
A grade of “F” or “AW”** at any point will place a graduate student on academic suspension for one
semester, after which the student may apply for re-admission. A student who receives a grade of “F” in
a graduate course, must repeat the course immediately after readmission to avoid the further lowering
of his or hers Grade Point Average (GPA). If the course is not available the next term, the student must
wait until the course is available before re-entering the program, no exceptions will be made to this
requirement. Upon re-admission, the student standing will be that of AP with two semester to attain
the 3.0 GPA required by the University. Re-admitted students must have their Academic Plan updated.
**Administrative Withdrawal
Academic Suspension (AS) is imposed on students who fail to meet the conditions of the Academic Plan
during their probationary period. Students in this situation will receive a one semester suspension with
the right to appeal. Academic Suspension is limited to one in a student’s career. Students who are
suspended for a second time due to lack of compliance with SAP will be dismissed from the University.
If the appeal is not awarded, the student cannot register for classes the following semester. After
completing the semester suspension, the student may apply for readmission. Re-admission is at the
discretion of the Graduate SAP Committee. Upon re-admissions, the student standing will be that of AP
with two semesters to attain the 3.00 GPA required by the University. Re-admitted students must have
their Academic Plan updated.
27 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
If the appeal is awarded the student standing will be that of AP with two semesters to attain the 3.00
GPA required by the University. Students in this situation must have their Academic Plan updated.
Academic Dismissal is a permanent and irrevocable suspension from the University
Graduate Academic Standing Scale
Hours Attempted**
1-12
13-24
25+
GPA
2.50
3.0
3.0
**Hours Attempted=Non-Activity Hours attempted at Pfeiffer plus hours of transfer credits accepted
towards the student’s program.
28 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Financial Aid Appeals Process
To appeal a denial of financial aid, the student may submit a completed Satisfactory Academic progress
Appeal form found at http://www.pfeiffer.edu/images/stories/Financial_Aid/Forms/20122013/Satisfactory_Academic_Progress_appeal_process.pdf as well as a written letter of appeal which
must:









29 |
Explain in detail the reason(s) for not meeting the standards for academic progress
List the step(s) the student plans to take to correct his/her academic progress deficiencies.
List in detail any extenuating circumstance(s) the students wishes the Appeals Committee to
consider.
Appeals must be submitted and approved prior to the end of the semester for which the student is
appealing to receiving financial aid.
The Satisfactory Academic Progress Committee will consist of the Director of Financial Aid, a
representative from the Provost’s office, and a faculty member.
The student will be provided written notification of the decision of the Satisfactory Academic
Progress Committee from the Director of Financial Aid. The Committee’s decision is final.
The student should provide a copy of his/her Academic Plan along with the letter of appeal. The
Committee may approved the Academic Plan designed by the student’s faculty advisor or the
Office of the Provost to return the student to good standing status and regain eligibility for
financial aid.
It may be necessary for the student to provide written documentation from his/her health care
provider(s). If so, the documentation should be on clinic letterhead, with a description of the
diagnosed medical or psychological condition, and indicating when treatment began. If
applicable, it should also explain how the condition prevented the student from meeting the
requirements of the Satisfactory Academic Progress policy.
Submit all materials as a single packet to the Financial Aid Office either via fax (704.463.1363) or
can be scanned and emailed to financialaid@fsmail.pfeiffer.edu. Each page should include the
students ID number. Any missing information will delay consideration of the student’s request
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Financial Aid Satisfactory Academic Progress Appeal
Return: Financial Aid Office
PO Box 960
Misenheimer, NC 28109
Office: (704) 463-1360
Fax: (704) 463-1363
Complete this form and attach all additional documentation needed for your appeal. (See
Instruction Sheet.)
Name: _______________________________________________ ID: _____________________
Last
First
MI
Address: _____________________________________________________________________________
Street or Residence Hall
City
State
Zip Code
Telephone: ___________________________________________________________________________
(Your address and telephone should reflect where you can be reached during the appeal process)
Major: ______________________________ Minor: _______________________
1. Please check the term for which you are submitting an SAP appeal.
☐Fall ☐Spring ☐Summer Year: ________
2. Please indicate the mitigating circumstances that have contributed to your inability to maintain
SAP by checking any category that applies to you. You also must follow the instructions for each
checked category.
☐Serious illness or injury to student or immediate family member (parent, spouse, sibling, child) that
required extended recovery time. Attach a statement from the physician and explain the nature and dates
of the illness or injury.
☐Death of an immediate family member. Attach a photocopy of the death certificate and include the name of
the deceased and relationship to you.
☐Significant trauma in student’s life that impaired the student’s emotional and/or physical health.
Provide a detailed explanation regarding the specific circumstances of your condition. Please be sure to
include dates and what you have done to overcome this condition. Supporting documentation from a third
party (physician, social worker, psychiatrist, police, etc.) also must be attached.
30 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
☐Other unexpected documented circumstances beyond the control of the student. Please explain in detail
the nature and dates of the unexpected circumstances. Supporting documentation also must be provided.
3. Statement from your academic advisor. This statement should be provided if you have been
consulting with an advisor to improve your academic standard. The advisor should provide his or
her opinion of your ability and willingness to improve academic performance and the number of
credit hours in which you have been advised to enroll during the upcoming semester.
Check any that apply:
_____ Additional page(s) attached
_____ Supporting documentation attached
_____ Re-admission letter attached (If you were academically dismissed)
_____ Advising Report attached
All the materials for your SAP Appeal should be turned in as one package.
I certify that all information and documentation I have submitted pertaining to this appeal is true. I
understand that the decision of the Financial Aid Appeals Committee is final.
__________________________________ _____________________
Signature Date
For Office Use Only
Reason for unmet SAP:
☐Cumulative GPA
☐Cumulative GPA
☐Course Completion Rate
☐Time Frame (150 % rule)
☐Academically Dismissed
Number of semesters at Pfeiffer: __________________
☐Approved, beginning with _________ term
Year:___________
☐Denied
Requirement to Reinstate Assistance In order to regain financial aid eligibility, students must enroll in
classes at their own expense to advance their cumulative grade point average to the minimum SAP
standards. After successfully obtaining the minimum SAP standards according to the classification level,
students may be reinstated or considered for financial assistance for the upcoming terms. It is the
student’s responsibility to notify the Financial Aid Office of an advanced cumulative grade point average
that meets the minimum SAP standards within the allotted time frame for awarding aid for the upcoming
term. Questions regarding financial aid should be directed to the Financial Aid Office at 1.800.338.2060
or via email at financialaid@fsmail.pfeiffer.edu
31 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Enrollment Status For financial aid purposes, enrollment status is based on the following listed
information:
No. of Credit
Hours
12 or More
9 to 11 Hours
6 to 8 Hours
1 to 5 Hours
Undergraduate
Full-time
Three-Quarter
Time
Half-Time
Less than Half-time
Graduate
Full-Time
Full-Time
Full-Time
Half-Time
Enrollment status is based on the number of credit hours for which students enroll for each academic
term. Undergraduate and Graduate students may be considered for financial assistance based on the
number of credit hours enrolled for each term. If enrolled less than full-time, aid may be pro-rated based
on reduced cost of attendance. If enrolled less than half-time, only undergraduate students with Pell
eligibility may be considered for assistance.
New federal regulations limit eligibility for Title IV federal aid due to repeated courses. Students
may only receive Title IV federal aid for the first retake of a previously passed course. In addition,
any subsequent retakes (after the first retake) of a previously passed course will not count toward
the student’s actual enrollment for Title IV funding purposes.
32 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Withdrawals and Return of Title IV Aid
The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for
students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a
semester. The Federal Title IV financial aid programs must be recalculated in these situations. Title IV
funds include Pell, FSEOG, Perkins Loans, Direct Subsidized, Direct Unsubsidized and PLUS Loans.
If a student leaves the University prior to completing 60% of a semester, the Financial Aid Office
recalculates eligibility for Title IV Funds. Recalculation is based on the percent of earned aid using the
following Federal Return of Title IV Funds formula:
Percent of aid earned = the number of days completed up to the withdrawal date, divided by the total
number of days in the semester. (any break of five days or more is not counted as part of the days)
The University may be required to return a portion of the funds, and the student may be required to return
a portion of the funds. Keep in mind that when the Title IV Funds are returned, the student may owe a
balance to the University. If that is the case, the student should contact the Office of Student Financial
Services to make arrangements to pay the outstanding balance.
Reapplying For Aid
You Must Reapply for Financial Aid Each Year
Applying for 2015 Summer Aid A separate application for financial aid for the Summer term is required.
This application will be available in late March and is due to the Financial Aid Office immediately after you
register for Summer Classes. Summer 2015 financial aid is calculated based on your 2014-2015 FAFSA.
Applying for 2015-2016 Fall/Spring Aid
1. File your 2014 Federal Taxes
2. Complete the 2015-2016 FAFSA
Pfeiffer University’s priority deadline for completing this form is March 1st. Applications
received after March 1st will still be processed; however, aid is awarded on a first-come, firstserved basis, therefore, it is up to your benefit to meet the priority deadline.
3. Respond to requests for additional document by the Financial Aid Office
To see if the Financial Aid Office is requesting any additional documents form you, please log
onto your my.pfeiffer.edu portal and email account to see what is listed and what
communications you have received from us. If you are unable to log onto your account, or
have questions regarding the request, please contact the Financial Aid Office.
Special Circumstances
The Financial Aid Office recognizes that students and families may experience special circumstances
that affect their ability to pay college costs. If you feel that your family has a special circumstance, please
contact the Financial Aid Office immediately. Circumstances that will be considered include the following:




33 |
Loss of income (wages, benefits, etc)
High medical or dental expenses not covered by insurance
Unreimbursed elementary or secondary private school tuition for children with special needs
Unusually high child care costs
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Repayment
Required
Program
Eligibility*
Award Amount
Pell Grant
Awarded to undergraduate students
who have not earned a bachelor's or a
professional degree and are enrolled in
at least one credit hour. Recipients
must be U.S. citizens or eligible nonresidents. Amounts are based on
financial need, the institution's cost of
attendance and the student's
enrollment status.
$626-$5775
per academic
year
No
Supplemental
Education
Opportunity Grant
(SEOG)
Recipients must be Pell Grant eligible
and have exceptional Financial Need
$100-$4000
per academic
year
No
North Carolina
Need Based Grant
(NCNBG)
Recipients must be a North Carolina
Resident for tuition purposes as defined
by the NC Residency Manual, and must
be enrolled as an undergraduate
student in at least 9 credit hours.
Recipients must demonstrate a certain
level of financial need based on
calculated Expected Family Contribution
(EFC) from the Free Application for
Federal Student Aid (FAFSA). All
Recipients must meet requirements for
the Federal Pell Grant (Except EFC).
$2000-$7100
per academic
year for
traditional
Undergraduate
Students and
$680-$1360
per academic
year for Adult
Study Students
No
Federal WorkStudy
Recipients must be a U.S. citizen or
permanent resident, enrolled full time
in a degree-seeking program, and have
financial need.
$500-$2000
per academic
year
No
Federal Perkins
Loan
Recipients must be U.S. citizens or
eligible non-citizens, enrolled at least
half-time in a degree-seeking program,
and demonstrate financial need. The
normal award amount at Pfeiffer
University is $3000. The amount may
be raised to $5000 With documented
circumstances.
$500-$5000
per academic
year
Yes 5% Interest
34 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Program
Repayment
Required
Eligibility*
Award Amount
Recipients must be U.S. Citizens or
permanent residents, enrolled at least
half-time in an undergraduate degreeseeking program, and have financial
need.
Maximum
amounts per
academic year:
$3500 for
Freshmen
$4500 for
Sophomores
$5500 for
Juniors &
Seniors
Yes Interest is
deferred while
student is enrolled
at least part time
William D. Ford
Direct Student
Loan
(Unsubsidized)
Recipients must be U.S. Citizens or
permanent residents and enrolled at
least half-time in a degree-seeking
program. Dependent students can
qualify for this additional loan if the
parent/guardian is denied for a PLUS
Loan and verification of the denial is
provided by the Financial Aid Office
Maximum
amounts per
academic year:
$4000 for
Freshmen
$4000 for
Sophomores
$5000for
Juniors &
Seniors
$20,500 for
Graduate
Students
Yes Interest accrues
while student is
enrolled
PLUS Loan
Borrower must be the parent of a
dependent undergraduate student
Up to cost of
attendance
per academic
year
Yes
Alternative/Private
Loans
Borrower is the student. A co-signer
may be rquired by the lending agency.
Up to cost of
attendance
per academic
year
Yes
William D. Ford
Direct Student
Loan (Subsidized)
*All federal, state and institutional financial aid programs require recipients to make Satisfactory
Academic Progress. This includes all programs listed above, except for the Alternative/Private Loans.
35 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Notes……………..
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36 |
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.
Pfeiffer University Financial Aid Consumer Information Guide
2015-16
Pfeiffer University
Financial Aid Staff
Name
Amy Brown
Stephanie
Stroupe
Diane Martin
Lorri Connor
37 |
Title
Director
Financial Aid Counselor
Financial Aid & Campus Employment Counselor
Financial Aid Counselor - Charlotte Campus
Email
amy.brown@pfeiffer.edu
stephanie.stroupe
@pfeiffer.edu
diane.martin@pfeiffer.edu
lorri.connor@pfeiffer.edu
The Higher Education Opportunity Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional
information in a variety of formats. Schools must annually provide a notice to all enrolled students describing the availability of consumer information. Disclosure requirements are covered in
this document as required and are subject to change.