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Salve Regina University    
 
    
 
  Dec 11, 2017
 
2016-17 Undergraduate Catalog [ARCHIVED CATALOG]

Financial Aid


 

The Office of Financial Aid provides information and counseling on financial aid and other options for financing college costs. The University website, www.salve.edu, contains a great deal of information as well as helpful financial aid links, including links to all required forms. For further information on any of the financial assistance programs described, write or call the Office of Financial Aid at Salve Regina University.

Application Process

Priority deadlines for filing all financial aid forms are March 1 for the fall semester and December 15 for the spring semester. Verification materials must be submitted by May 15 for the fall semester and January 15 for the spring semester.

To be eligible for federal financial aid or institutional need based aid, students must submit a FAFSA (Free Application for Federal Student Aid)

This form is available online and links to the FAFSA and other documents may be found in the Financial Aid section of the Salve Regina website. All verification materials will be requested by mail or email and should be sent to the Office of Financial Aid.

Examples of verification materials may include:

  • Federal IRS Tax Transcripts of both student and parents’ federal tax returns (or statement of not filing).
  • Copies of all W-2’s.
  • Other supplemental information requested by the Office of Financial Aid.

Returning Students

Renewal of financial aid is not automatic. Each year students must submit the Free Application for Federal Student Aid (FAFSA) by March 1st. If a returning student is selected for verification, documentation information will be requested by mail or e-mail and should be sent to the Office of Financial Aid.

Eligibility Requirements

To be eligible for need based financial aid at Salve Regina University, a student must:

  • Be a citizen or legal resident of the United States.
  • Be enrolled at least half-time (two courses [6 credits] per semester) and be accepted as a candidate in a degree or certificate granting program.
  • Be making satisfactory progress toward the completion of the course of study.
  • Not be in default on a Federal Perkins Loan or a Federal Stafford Loan.
  • Not owe a refund on a Federal Pell Grant or Federal Supplemental Education Opportunity Grant.

Special Note

Since rules, regulations, and requirements change each year, all students who feel that they have financial need are encouraged to apply, rather than concluding that they are ineligible. Also, since a student’s eligibility status could change during the college years, it can be important to file a new application each year, regardless of the determination made in past years. While Salve Regina University strives to maintain consistent awards from year to year, changes in a family’s financial situation, household size, number of students in college, etc. may necessitate adjustment to an award. Similarly, on-campus and off-campus budgets differ and awards are adjusted accordingly. Students who move from on campus residence halls to off campus housing can expect a reduction of institutional need based aid based on the lower cost of attendance.  Offers of aid are made on the assumption that the financial aid programs will be continued and that sufficient Federal funds will be appropriated by Congress. Students who submit late applications must expect delays in aid awards, reductions in grants, and the possibility that funds may already have been exhausted. It is the responsibility of the student to keep home and local addresses current in the Office of Financial Aid to ensure that requests for missing documents are received in a timely manner.

Satisfactory Academic Progress

In order to receive or continue to receive financial aid funded by the government and/or Salve Regina - including student or parent education loans, grants, scholarships and employment - you must maintain satisfactory academic progress.

Requirements

  • You must complete a specific number of the credits you attempt each academic year. The number of credits attempted equals the number of credits in which you are officially enrolled at the end of each add/drop period. Credits that are graded “incomplete,” as well as credits from which you withdraw after the add/drop period, are considered credits attempted but not satisfactorily completed. If an incomplete grade is subsequently changed to a passing grade, satisfactory academic progress can be recalculated based on receipt of a passing grade.
  • Your cumulative GPA at the end of your first academic year of study must be at least 2.00, and your record must continue to meet this standard at each review.

Students are reviewed annually for compliance with satisfactory academic progress requirements, at the end of each spring semester. In addition to the cumulative GPA noted above, this review covers all coursework attempted since the end of the previous spring semester, beginning with any credits taken in the first summer session of the preceding calendar year.

To regain eligibility for financial aid after unsatisfactory progress has been declared, you must complete the number of credits not passed within the period which resulted in the loss of aid and achieve the required cumulative GPA.

To maintain eligibility for federal Title IV funding, you must meet the criteria outlined in the chart below. This ensures that no student takes longer than 150 percent of the normal time for completing your degree, based upon enrollment status. For example, in a program requiring 120 credits for graduation, 150 percent of the normal time equals 180 credits attempted. The time to degree completion includes all courses attempted, including courses from which you have withdrawn after the add/drop period, courses that are incomplete, and courses which have been accepted by the University in transfer

General Provisions

Repeat coursework taken for the purpose of increasing a previously passing grade cannot be considered in qualifying you for financial aid enrollment status or satisfying a determination of non-compliance with satisfactory academic progress requirements.

Appeals

If you are denied financial aid because of failure to meet satisfactory academic progress requirements, you may appeal if you believe there are special circumstances that should be considered. The appeal must include an explanation of why you believe you failed to achieve satisfactory academic progress and what has changed that will allow you to achieve progress by the end of the next financial aid payment period.

A written appeal, sent within 15 days of notification of ineligibility, should be addressed to the director of financial aid. Appeals will be reviewed and a response will be mailed within 15 days of receipt. Appeals may be approved if the justification presented is acceptable and it has been determined that you are able to meet satisfactory academic progress standards by the end of the next financial aid payment period, or are placed on an academic plan that will ensure you are able to meet satisfactory academic progress standards by a specific point in time.

Federal Title IV Funding Criteria

Full-time students make satisfactory academic progress by achieving the following cumulative GPA and credit criteria each semester.

Time Period

Time Period GPA Credits
First Year    
Fall Semester 2.00 12
Spring Semester 2.00 24
Second Year    
Fall Semester 2.00 36
Spring Semester 2.00 48
Third Year    
Fall Semester 2.00 60
Spring Semester 2.00 72
Fourth Year    
Fall Semester 2.00 84
Spring Semester 2.00 96
Remaining Semesters    
First 2.00 108
Second 2.00 120

Types of Aid

There are three principal types of aid: the scholarship or grant that need not be repaid; the loan that must be repaid (most loans allow liberal repayment periods and low interest rates); and part-time employment (the student is paid hourly and budgets these earnings to meet educational expenses). The U.S. Department of Education website (www.studentaid.ed.gov) is a good source of information describing all federal aid programs.

Scholarships and Endowments

Inquiries concerning grants or scholarships should be directed to the Office of Financial Aid, Salve Regina University, 100 Ochre Point Avenue, Newport, RI 02840. The e-mail address is financial_aid@salve.edu.

The Office of Admissions at Salve Regina University awards academic scholarships to incoming students who meet established criteria. These scholarships are renewable provided that the student maintains the cumulative grade point average (GPA) specified in the scholarship agreement. Admissions also awards the Aquidneck Island Multicultural Scholarship to selected, qualified students who demonstrate need and have a strong commitment to diversity. Scholarship criteria are detailed on the Admissions/Financial Aid website www.salve.edu/Admissions/undergraduate/costfinancialaid.  Students who fall below the required minimum GPA will lose eligibility after a one semester probationary period.  Student who move off campus can expect a reduction of aid.

Regina Scholarships are partial scholarships, awarded each year by the President to approximately five freshmen, five sophomores, and five juniors who have completed the requisite number of credits to achieve standing as sophomores, juniors, and seniors and who have achieved the highest cumulative grade point averages in their classes. These are the only academic scholarships awarded to returning students.

The Salve Regina University grant program is funded in part by the generosity of many individuals and corporations.

Federal Programs

Eligibility for all Federal financial aid is determined by the U.S. Department of Education, based upon the completed annual FAFSA.

Army ROTC Scholarships/Stipends

Army Reserve Officers’ Training Corps scholarships are available on a competitive basis to qualified students. Each scholarship recipient receives full tuition and fees per year, an annual book allowance of $900, and a $300-$500 monthly tax-free stipend. Scholarships are available for two-, three-, and four-year terms. In return for the benefits, scholarship winners enter into a contractual arrangement with the United States Army, agreeing to accept a Regular Army or Army Reserve commission as a Second Lieutenant.  Students who receive this scholarship may not be eligible to receive any additional aid from the University.

National Guard Tuition Assistance

Members of the National Guard may qualify for state-sponsored tuition assistance programs. Students interested in this program should contact their Adjutant General’s office. Members of the Army National Guard may also qualify for Army ROTC tuition assistance benefits under provisions of the Army ROTC Simultaneous Membership Program.

Veterans Administration Educational Benefits

Salve Regina University is approved for veterans’ benefits, including Yellow Ribbon benefits. These benefits are administered through the Office of the Registrar. Interested persons should contact their local V.A. office or phone 1- (888)-GI-Bill1 (1-888-442-4551) for assistance.

Outside Scholarships

Many private philanthropic organizations, foundations, and corporations provide scholarships, grants, loans, and employment opportunities. Local sponsors of such programs include service organizations such as Rotary, Kiwanis, Lions Club, the American Legion, and the PTA. These sources represent significant resources to the student.

For this type of assistance, students generally apply directly to the potential donor and usually the student deals directly with the sponsoring organization. Students are responsible for verifying to the University any outside financial assistance to be applied to their accounts. Students should not rely on outside agencies to do this. Students will find links to free scholarship search services on the financial aid website.

Salve Regina encourages families to seek outside scholarships. The University has very flexible policies regarding the posting of outside scholarships. Whenever possible, these scholarships augment need-based financial aid awards. For further information, please contact the Office of Financial Aid.

Vocational Rehabilitation

Every state operates a vocational rehabilitation program to help people with disabilities return to productive activity. In certain cases the vocational rehabilitation agency will assist a student with disabilities to meet college expenses. If a student receives payments from Vocational Rehabilitation, Manpower Development, or similar assistance programs, the full value of such payments is considered a financial resource.

Renewal of Financial Aid

Renewal of financial aid is not automatic. Recipients are required to apply each year by the announced deadlines. The Office of Financial Aid reserves the right to reduce, increase, or otherwise adjust any financial aid for which it is responsible. For further information regarding any of these financial assistance programs, visit our website, write or call the Office of Financial Aid at Salve Regina.