To maintain eligibility for financial aid, a student must comply with the following standard. Failure to meet any of the standard requirements may result in denial of federal or institutional financial aid at Mount Ida College.
A financial aid applicant must have a CGPA based on the degree standards of his/her degree program and a completion rate as outlined in the College Catalog. The term ‘calculated credits’ is defined as credits for which a student has received a financial aid disbursement and/or attempted hours if the student did not receive financial aid. It also includes transfer credit hours that are accepted toward a student’s educational program. If a student fails to meet these eligibility standards, he/she is placed on probation.
Mount Ida College uses a Graduated Standard method of determining SAP as outlined in the College Catalog. Aid eligibility is limited to 150% of a program’s credit even if a degree is not earned.
Measurement Point/Times Standard Applied
The financial aid academic eligibility standard will be evaluated at the end of each term for financial aid applicants. Eligibility for receipt of financial aid can be denied at any measurement point if either standard is not met.
Good Standing Status
Financial aid applicants who meet the GPA requirements of his/her degree program are considered to be in good standing and are otherwise eligible for aid.
When a student in good standing fails to meet the eligibility standards for either completion rate and/or GPA, an automatic probation status is enforced for one semester.
Loss of Aid Status
If a student in probation status fails to meet the cumulative minimum standardsfor another semester, he/she becomes ineligible for any financial aid and is in a Loss of Aid status for future semesters. This includes grants, work study, institutional scholarships and loans. The loss of aid status also includes certain types of private, alternative loans.
Reinstatement of Aid
Reinstatement of aid is never automatic. Students in a loss of aid status have the opportunity to appeal their loss of aid by completing an Academic Plan through the Academic Affairs office to have their financial aid reinstated.
Students approved for an Academic Plan will remain on a probation status for one semester and will receive financial aid. A student can appeal their loss of aid a maximum of three times.
Students must meet the conditions outlined in the Academic Plan. If a student is unable to meet these conditions, the student will again be in a loss of aid status until the cumulative GPA meets his/her degree standards and the cumulative rate is at least 66.67%.