FINANCIAL AID

THE OFFICE OF FINANCIAL AID

The Office of Financial Aid is dedicated to helping students obtain university financial assistance to cover the cost of attendance.  Students can apply for grants and loans through the Office of Financial Aid, but are encouraged to seek other types of aid, in the form of scholarships, to reduce loan costs and out-of-pocket expenses.

STUDENT FINANCIAL RESPONSIBILITY AND STUDENT AID

The University recognizes its role in fostering personal initiative, planning, and responsibility in financial affairs as an integral part of the educational process.  The administration believes each student has the primary responsibility for arranging financing and payment of his or her charges.  Each student will, therefore, be held responsible for his or her bill.  Asher University maintains an Office of Financial Aid to make every effort possible to provide financial aid to any deserving student eligible to attend the Institution.  This aid may be in the form of scholarships, grants-in-aid, loan, or work study.  Further, this office aids the student as much as possible in his or her application for funds available from federal government programs, from state vocational rehabilitation offices, and from other agencies and organizations.

Processing of Financial Aid

Financial aid will not be disbursed until the University add/drop period is completed and student enrollment is verified.  Financial aid is based on student enrollment status as of the last day of the add/drop period.  In addition, all required documentation must be received (e.g., tax forms) before aid will be released for individual students.  All financial aid administered by the University must first be used to cover University charges; refunds of financial aid will not be given to students until all semester charges are satisfied. All grants and scholarships are credited directly to students’ accounts.  Loan checks for Federal Stafford, Perkins, and PLUS loans must be endorsed by the borrower, if required, and submitted to the University cashier so that the loans can be credited against charges.  Loan checks may not be deposited into private checking or savings accounts, or otherwise negotiated by students.

SOURCES OF FINANCIAL AID

Federal Student Aid Programs

Asher University participates in major federally funded student financial aid programs.  Federal financial aid is based on financial need and the difference between the cost of education and the amount parents and students are expected to contribute towards their education expenses.  Students may participate in a combination of programs if they are eligible.  The following federal Student Aid programs are available for eligible students:

Pell Grants

Pell Grant, intended to be the foundation of the financial aid package, are annual awards ranging from $400.00 to $4,050.00.  Students must complete and submit the Free Application for Federal Student Aid (FAFSA) each year.  Only undergraduate students are eligible for Pell Grants.

Family Federal Educational Subsidized and Unsubsidized Stafford Loans (FFEL)

Subsidized and Unsubsidized loans are financed through private lenders and bear variable interest rates.  Repayment of the loan begins six months after the student graduates or drops below Part-Time study.  Undergraduate students are eligible for FFEL.  The amount of loan is determined by the cost of attendance, grade level and previous loan history.  Students may obtain applications from banks, credit unions or the University’s Office of Financial Aid

Parent Loans for Undergraduate Students (PLUS)

The PLUS loan program provides unsubsidized loans for parents of undergraduate students.  Students may obtain applications from banks, credit unions or the University’s Office of Financial Aid.

Supplemental Educational Opportunity Grants (SEOG)

SEOG awards are based on financial need.  The number of awards is based on the availability of funds.  Only undergraduate students are eligible for SEOG.  Students may inquire about SEOG in the University’s Office of Financial Aid.

Federal Work-Study Program

Funded jointly by the federal government and the University, this program involves placement of students in a variety of jobs on campus, suited to their interests, skills, and experience.  Work-study students work an average of 10 to 20 hours a week when classes are in session.  Job schedules are designed to accommodate scheduled classes.  Awards are based on the availability of funds to the University and the amount of other financial aid that students are receiving.  Interested students should inquire in the University’s Office of Financial Aid.

Asher University Athletic Scholarships

Check with the Head Coach for those sports.

Asher University Presidential Scholarships

Can range from $1,500.00 – $30,000

External Scholarships

Information about available institutional and private scholarships may be obtained in the Office of Financial Aid

Veterans Educational Benefits

Veterans and their dependents may be eligible to receive educational benefits from the Veterans Administration.  For additional information in reference to Veterans Benefits, students should contact the Office of Financial Aid.

SCHOLARSHIP SEARCH

In addition to scholarships specific to Asher University, there are a variety of scholarship websites available to students seeking additional assistance for college.

Make sure you have completed your FAFSA:  http://www.fafsa.gov

Use our school code =

Details:

• You must be currently enrolled in college.
• Exhibit notable achievement.
• Need to have academic excellence.
• We will need a statement summarizing why you need the scholarship.
• What future career you will be entering.
• We will need to have copies of the high school and college transcripts.
• Letters of personal recommendations. They should be a professor, teacher or coach.
• We will want a minimum of 500 words explaining why you should win the scholarship.
• We are looking for someone who has a great track record and who excels in the above.
• All applicants need to submit by March 1st.

 

Award

Each Quarter, 1 student will be awarded a $5,000 scholarship.

Application Dates

Fall Quarter – Award recipient is announced by April, all applications submitted from January 1 through March 1.

Winter Quarter – Award recipient is announced by July, all applications submitted from April 1 through June 1.

Spring Quarter – Award recipient is announced by October, all applications submitted from July 1 through August 1.

Eligibility

You must be a US citizen studying in the USA.

You must be enrolled and taking classes at an accredited college or university in the United States.  Students of all majors are encouraged to apply!

How to Apply

You can submit your application via the CFF Foundation Education Award Application Form. To apply, write an essay (up to 1500 words) focusing on one of the questions on the form.

Selection and Notification

The CFF Foundation Education Award committee will review all submissions and the award winner will be notified via email. Potential award winners are subject to verification by the award committee.

For more scholarships, please see below:

Child of an American Veteran Scholarship

Athletic Scholarship

Asher University Scholarship

Fast Web Scholarship Search

Go College Scholarship Search

Peterson’s Scholarship Search

Scholarship Resource Network Express

Scholarships.com

Scholarships by Religion

United Negro College Fund

Hispanic Scholarship Fund

The Hispanic College Fund, Inc.

ELIGIBILITY FOR FEDERAL FINANCIAL AID

Federal Qualifiers

A minimum of 6 credit hours are required to qualify for federal aid program:

Full-Time Undergraduate                                  9 Hours

Part-Time Undergraduate                                  6 Hours

Financial Aid Application Deadlines

The Financial Aid Office accepts applications at any time before or during the academic year; however, there are priority deadlines that are enforced for the awarding of any institutional grants and scholarship.  The deadlines are as follows for each quarter:

1. Winter December 1 St.
2. Spring March 1 St.
3. Summer June 1 St.
4. Fall September 1^st

 

Funds are awarded on a first-come, first-served basis; there for, it is important to apply before the priority deadlines.  Institutional fund may be exhausted before the priority deadline dates.  Applications received after the priority deadline dates will be reviewed for federal grant, work study, and loan eligibility (if a loan request has been made).

Prospective and currently enrolled students interested in applying for Federal Student Financial Aid program must meet the following requirements:

1. Be enrolled in a bachelor’s degree-seeking program.
2. Establish financial need by a recognized analysis.
3. Be a U.S. citizen or eligible non-citizen.
4. Be registered with the Selective Service (if required).
5. Sign a “Statement of Education Purpose” indicating that aid received will be used only for education related expenses.
6. Not be in default on a federal loan or owe a refund on a federal grant.
7. Maintain satisfactory academic progress.

 

In addition:

1. Less than Part-Time students may be eligible for Federal Pell Grants or other Federal Student Financial Aid programs.
2. Students who have received a bachelor’s degree are not eligible for Federal Pell Grants or SEOG but may be eligible for other Federal Student Financial Aid program.
3. Students attending two schools in the same enrollment period cannot receive Pell Grants at both schools.
4. Conviction for drug distribution or possession may make a student ineligible for federal aid.
5. Students must maintain at least half-time status (6 credits) to be eligible for a federal student loan.

 

Eligibility requirements, loan and grant limits may change annually as mandated by federal regulations.  Students must apply each year for those financial aid programs in which they wish to participate.  Information and application forms for all types of Federal Student Financial Aid may be obtained from the Office of Financial Aid.

Financial Aid Satisfactory Academic Progress Policy

To maintain eligibility for Federal Student Financial Aid programs, students must comply with Standards of Satisfactory Academic Progress.  The Office of Financial Aid is required by federal regulations to monitor the academic progress of Federal Student Financial Aid recipients.  Satisfactory Academic Progress will be monitored at the completion of each term.  A detailed copy of the policy described below may be obtained from the office of financial aid.

Students who receive Federal Student Financial Aid must maintain cumulative grade point average of 2.0 (undergraduate) will be placed on financial aid probation.  Students who receive Federal Student Financial Aid must successfully complete a minimum of 67% of credits attempted on a cumulative basis or be placed on Financial Aid probation.  Students must earn their degrees within the maximum allowable time frame regardless of their program of study.  Students who exceed the maximum time frame cannot receive Federal Student Financial Aid until they have completed their current program.  A student placed on financial aid probation is eligible for Federal Student Financial Aid during the probationary term, after which he/she will be disqualified from receiving financial aid if standards are not met.  Students may request a review of their Federal Student Financial Aid eligibility after Standards of Satisfactory Academic Progress has the right to submit a written appeal if there are mitigating circumstances.

FINANCIAL AID REFUNDS TO INSTITUTION AND TITLE IV PROGRAMS

When a student leaves the University during the semester during which federal or institutional aid has been received, some or all the financial aid received may have to be cancelled.  The amount of aid which must be cancelled (refunded to the federal /institutional program) is calculated on a prorated basis according to the length of time (in days) a student has been enrolled.  For example, if the semester is 90 days in length and a student withdraws on the 28^th day, the student has attended 32% of his/her aid.  (68 divided by 28= 32%) The remaining 68% (unearned amount) of the financial aid must be cancelled.  In this example, a student who receives a total of $5,000 in financial aid will keep $1,600 (32%).  The remaining $3,400 will be refunded to the financial aid program source.

If all or part of the financial aid was given to the student as a financial aid refund for living expenses, the student may be responsible for repaying a portion of this unearned financial aid.  Required financial aid refunds to Title IV Programs will be made in the following order: Federal Stafford and Plus Loans, Federal Perkins Loans, Federal Pell Grant, Federal SEOG, and other Title IV assistance.  Please be aware that the above required policy governing the return of financial aid funds as a result of student withdrawal is different than the university’s policy for refunds of university’s charges.  Financial aid refunds may be required even though there may be no reduction to the student’s charges.  Please read the section titled Refunds After Withdrawal from the university for further information on adjustments to university charges.