IX-Y UNDERGRADUATE -FINANCIAL AID REGULATIONS — FEDERAL, STATE, AND INSTITUTIONAL
A. Clarkson University Awarding Policy
Clarkson University bases its Financial Aid Program on two comprehensive criteria:
Financial need as determined from the results of the FAFSA and
Students applying for need based federal, state and institutional aid must file a FAFSA each year.
Students applying for federal loans and parents applying for the Federal Direct Parent Loan (PLUS) are required to file a FAFSA.
Students receiving only academic/merit based aid are not required to submit a FAFSA.
Students may only receive federal financial aid (Pell, SEOG and federal loans) for courses that are used to complete degree requirements. Courses taken that are not used to meet degree requirements do not count toward full-time enrollment status for federal aid purposes. To maintain full-time status a student must be enrolled in at least 12 credits that are used toward fulfilling degree requirements.
New York State grants and scholarships (TAP) also require that courses taken are used to complete degree requirements. However, there are special rules that apply to the final two semesters of degree completion.
Institutional aid may be used for courses that do not apply to degree requirements. Full-time enrollment in at least 12 credits is required to receive Clarkson aid. Clarkson aid may not exceed 8 semesters.
Adjustments to offers of Financial Aid may result from the following:
Retention - Scholarship and grants are retained provided the student maintains Satisfactory Academic Progress for Financial Aid. Some Institutional, Endowed and Sponsored Scholarships have a minimum GPA requirement. Most institutional scholarships are limited to 8 semesters. If a student chooses to graduate early, they may not utilize all 8 semesters of aid.
Federal, State and Institutional aid is awarded on an annual basis and is based on full-time enrollment (12 credits per semester) in both Fall and Spring semesters. If a student is not enrolled in a semester, all aid will be pro-rated for 1 semester of attendance, i.e. ½ of a scheduled Pell Grant, half of the annual institutional scholarship, 1 semester of TAP etc.
Verification - Per federal regulations, information on the FAFSA will be compared to the information submitted on the Clarkson Financial Aid Verification Form. Resolution of conflicting information may result in an adjustment to the assistance offered.
Request for Information - Any requests for information must be responded to by the deadline indicated on the request. Failure to respond with the necessary information may result in an adjustment to the assistance offered.
Receipt of a final, official high school transcript - No federal, state or institutional financial aid will be disbursed to a student's account without the submission of a final, official high school transcript.
Necessity of Check-in at the beginning of the semester - No federal, state or institutional financial aid will be disbursed to a student's account until after they have "checked in." Check-in must be completed by the end of the 1st week of the semester. Failure to check-in will result in the cancellation of the financial aid package.
Changes in living situation – Financial aid packages will be revised if a student’s living situation changes i.e. a student who lives on-campus or off campus and becomes a commuter (living with parents).
Attendance - Students are required to begin attendance in all courses in which they are enrolled. Failure to begin attendance in a course(s) may require a reduction in the financial aid package. Students who begin attendance and then subsequently stop attending and do not drop or withdraw from one or more courses may also require a revision to the financial aid package for the current and/or future semester.
Changes in Enrollment - if a student's enrollment drops below full-time during the drop period (first 4 weeks of the semester), the financial aid offer will be revised for less than full-time status. Pell grants will be pro-rated. Students lose eligibility for TAP and all Clarkson need and non-need based grants, scholarships and loans. Direct Loan eligibility will be re-evaluated.