In order to receive financial aid at Harcum College a student must:
- Complete the Free Application for Federal Student Aid (FAFSA) as soon as possible after January 1.
- Be a United States Citizen or Permanent Resident.
- Be enrolled in a degree seeking program
- Be registered for at least 6 credit hours per term to be eligible for a Federal Direct Stafford Loan
- Adhere to the standards of Satisfactory Academic Progress
Enrollment Status
Financial aid is based on several factors including the number of credit hours in which a student is enrolled each semester. Enrollment status determines both the amount and type of aid for which a student is eligible. Undergraduate student enrollment status per semester is calculated as follows: Full-Time: 12 or more credit hours; Three-Quarter-Time: 9-11 credit hours; Half-Time: 6-8 credit hours; Less-than-Half-Time: 5 or less credit hours. If you change your enrollment status by adding or dropping courses, your Federal, State, and Institutional aid may be affected.
Satisfactory Academic Progress
A student’s receipt of financial aid is contingent upon the student making satisfactory academic progress as outlined in the Harcum College Undergraduate Catalog. If a student fails to maintain satisfactory academic progress, financial aid eligibility for federal, state, and institutional sources may be suspended until it is attained.
Financial Aid Disbursements
All financial aid is disbursed directly to the student’s account. Aid will be disbursed after the add/drop period of each semester. All financial aid will be disbursed in two or three installments depending on whether the student is attending during the summer term.
Credit Balance Refunds
Office of the Bursar will refund to students any financial aid proceeds that exceed charges on a student’s account. If a credit balance on a student’s account has resulted from a PLUS loan, the parent will be forwarded the refund. Refunds will be issued within 14 days after a credit balance occurs.
Refunds for Books & Supplies Effective July 1, 2011, all students who have satisfied the following eligibility requirements by the tenth day prior to the beginning of each semester are entitled to a book voucher by the seventh day after the semester has begun to cover the costs of books and supplies, based on the amount estimated by the financial aid office for the relevant academic year: 1) Student is Pell Grant eligible 2) Student is eligible to receive a refund from Title IV funds (Pell Grant, SEOG, Direct Stafford and PLUS) 3) All documentation has been submitted and/or completed including tax returns, verification worksheets, master promissory notes and entrance counseling
Verification
Verification is a process which authorizes the College to certify that all the information reported on your application (FAFSA) is correct. Each year, the U.S. Department of Education selects a group of applications for verification. Additionally, the College may use its discretion to choose applications for this process.
Documents requested to complete the verification process include, but are not limited to, the Verification Worksheet, signed copies of student and parent/spouse tax returns and W-2 statements. The Office of Financial Aid may also request supplemental information from a family if clarification or documentation of a situation is required. Any requested documents should be submitted within 10 days of receipt of notification to avoid cancellation of financial aid.
Any changes to the financial aid award as a result of verification will be communicated to the student in a revised award letter. Financial aid proceeds will not be credited to the student’s account until the verification process is complete.
Appeals
Appeals of financial aid awards must be submitted in writing to the Office of Financial Aid. Contact the Office of Financial Aid for additional information.
Refund Policy for Title IV Financial Aid Recipients
Students who received Federal Title IV financial aid and cease attendance during a semester must have a Return of Title IV funds calculation performed. The calculation determines how much of the awarded aid the student may retain and the amounts which both the College and student are required to return to the fund sources. Refunds or repayments to the programs may be due if a student withdrew before the 60% point in the semester. The amount that may need to be returned or repaid to the Federal Student Aid Programs is prorated based on the number of weeks the student attended in the semester. After the student has completed 60% of the semester, the student is entitled to keep all Federal Title IV aid.
Confidentiality
All information submitted in support of a financial aid application is considered to be confidential information and is not shared with anyone but the student. In compliance with the Family Educational Rights and Privacy Act (FERPA), a written release to discuss aid application information with anyone other than the student is required. Additionally, under FERPA, a student may at any time request to review his/her financial aid and/or institutional records. Please contact the financial aid office during regular business hours.
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