GENERAL INFORMATION REGARDING FINANCIAL AID:
ELIGIBILITY CRITERIA
In order to participate in aid programs, the student must be able to demonstrate the following eligibility criteria:

1. Applicant must be a U.S. citizen, or a national in the process of gaining citizenship

2. Applicant must be accepted by the college as a degree/certificate-seeking student;

3. Applicant must be a high school graduate or have a General Education Development (GED) certificate;

4. Applicant must maintain a cumulative grade point average (CGPA) no lower than 2.000 on a 4.000 scale.  Academic progress of financial aid recipients will be reviewed at the end of each year in credit hour programs.  Clock hour program aid recipients will be reviewed after completion of 900 clock hours

NOTE:  Students not meeting these requirements will be ineligible for financial aid.

Students who are admitted as a None major may receive Federal Stafford and PLUS loans for one consecutive 12-month period.  Class work taken during this time must be necessary for enrollment in their desired degree program.  Students are not eligible for other federal aid such as Federal Pell Grants and College Work Study until they have been admitted into their desired degree program. 

 SATISFACTORY ACADEMIC PROGRESS
According to federal regulations, students must make satisfactory academic progress to remain eligible for financial aid.  To remain eligible for financial aid, students must maintain an overall semester Grade Point Average (GPA) of 2.000 or above on a 4.000 scale.  Students must also satisfactorily earn a minimum number of credits applicable toward their degree each semester: 

Grades of WD, WP, WF, Audit, and Incomplete are considered unsatisfactory. 

Withdrawal and Incomplete grades do count as hours attempted for financial aid purposes.  Repeat classes are considered as hours attempted and completed for financial aid.  Non-credit remedial classes do not count as hours attempted or completed or completed for financial aid purposes.

Academic progress of financial aid recipients will be reviewed all the end of each semester in credit hour programs.  Clock hour program aid recipients will be reviewed after completion of 900 clock hours.  Students who maintain satisfactory academic progress remain eligible for financial aid.

Students who fail to meet one or more of the satisfactory academic progress requirements will be placed on financial aid probation for one semester.  Students failing to meet the satisfactory academic progress requirements at the end of their probationary semester will be placed on financial aid suspension.  Students who lose their financial aid eligibility may regain eligibility once they complete a minimum of 6 credit hours with an overall semester GPA of 2.000 on a 4.000 scale without financial aid assistance.  When students regain financial aid eligibility after being on financial aid suspension, they will return on financial aid probation.

Students cannot receive financial aid for more than 150% of the time frame of their degree.  For example, in successfully completing a four semester (two-year) curriculum, the maximum time limit for student aid utilization as a full-time student is six semesters (three years).  Students enrolled in less than full-time basis will be allotted a proportionate amount of financial aid according to their enrollment status. Definitions for determining student status follow:
Full-Time Student:                                 12 credit hours per semester
Three-Quarters Time Student:                 9-11 credit hours per semester
Half-Time Student:                                 6-8 credit hours per semester

Students believing they have mitigating circumstances that prevented them from maintaining satisfactory academic progress may request an exception by explaining their circumstances in writing with supporting documentation to the Office of Financial Aid.  Denied requests may be appealed by using the College’s grievance procedure.

Students who attend Linn State Technical College without financial assistance, and then apply for assistance, will have to meet the satisfactory progress standards as if they had received assistance from the beginning of their attendance at Linn State Technical College.

WITHDRAW POLICY
This section applies to students who do receive Financial Aid and withdraw from a course:

Refund of Federal Financial Aid
The Higher Education Amendments of 1998 Public Law 105-244 changed the formula for calculating the amount of aid a student and school may retain when the student totally withdraws from all classes.  If students withdraw up through the 60% point in each payment period or period of enrollment, a pro rata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal.  After the 60% point in the payment period or period of enrollment, a student has earned 100% of the Title IV funds.

The College encourages the student to read this procedure carefully.  If the student is thinking about withdrawing from all classes PRIOR to completing 60% of the semester, he/she should contact Financial Aid to understand how withdrawing will affect financial aid.

This procedure shall apply to all students who withdraw from Linn State Technical College and receive Financial Aid from title IV funds.

The term “Title IV Funds” refers to the federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs:

• Unsubsidized FFEL Loans,

• FFEL Loans,

• FFEL PLUS Loans,

• Federal Pell Grants, and

• Federal SEOG.

A students’ withdrawal date is:

• The date the student began the institution’s withdrawal process or officially notified the institution of intent to withdraw, or

• The student's last date of attendance at a documented, academically related activity (applicable only to specifically funded programs).

How Does the College Determine the Last Date of Attendance?  Attendance information is collected from faculty to verify financial aid eligibility.  If the student is not attending classes, he/she is required to complete the official withdrawal process of the College.  If a faculty member has confirmed that the last date of attendance was prior to the official withdrawal date from the College, the return of Title IV funds might be based upon the earlier date, applicable only to specifically funded programs. 

Refunds for all institutional charges, including tuition and fees, will be calculated using the refund policy in the following section.

Title IV aid is earned in a prorated manner on a per diem basis up to and including the 60% point in the semester.  Title IV aid is viewed as 100% earned after that point in time. For the Heavy Equipment Operations program, actual clock hours completed are used to calculate the percentage of Title IV aid earned.

The percentage of Title IV aid earned shall be calculated as follows:  Number of days completed by the student, divided by total number of days in the term (not counting breaks that include more than five days) equal the percentage of aid earned.

The percentage of Title IV aid unearned (i.e., to be returned to the appropriate programs) shall be 100% minus the percentage earned.

Unearned aid shall be returned first by Linn State Technical College from the student’s account calculated as follows:

Total institutional charges times the percentage of unearned aid equal the amount to be returned to the program(s).

Unearned Title IV aid shall be returned in the following order:

• Unsubsidized Stafford Loan

• Subsidized Stafford Loan

• Parent Loans to Undergraduate Students (PLUS)

• Federal Pell Grant

• Federal SEOG

• Other assistance under Title IV for which a return of funds is required.

When the total amount of unearned aid is greater than the amount returned by Linn State Technical College from the student’s account, the student is responsible for returning unearned aid to the appropriate program(s) as follows:

• Unsubsidized Stafford Loan *

• Subsidized Stafford Loan *

• Parent Loans to Undergraduate Students (PLUS)

• Federal Pell Grant **

• Federal SEOG **

• Other assistance under Title IV for which a return of funds is required. **

Refunds and adjusted bills will be sent to the student’s accounts receivable address following withdrawal.  The student is responsible for any portion of his/her institutional charges that are left outstanding after Title IV (Financial Aid) funds are returned.  Students with a past due balance will have a payment hold placed on his/her records.  If payment is not made the student’s account may be turned over to a collection agency, which may affect his/her credit rating. 

Institutional and student responsibilities in regard to returning Title IV funds

Linn State Technical College’s responsibilities in regard to returning Title IV funds include:

• Provide each student with the information given in this policy,

• Identify students, who are affected by this procedure and complete the Return of Title IV Funds calculation for those students,

• Return any Title IV funds that are due to the Title IV programs,

• Determine the withdrawal dates for students who withdraw without notification, and

• Notify students of the result of withdrawal in regard to Financial Aid.