Change of Academic Status
Your financial aid eligibility is based on your full-time academic status. In the event that your status changes as a result of a leave of absence, withdrawal, or dropping below a full-time courseload (12 credits), you must notify the Financial Aid Office.
Your federal loan eligibility is based on maintaining at least half-time status (6 credits). If you drop below half-time status for any reason, you must notify the Financial Aid Office, which will review your eligibility and inform you of your options.
Federal Loan Entrance and Exit Interviews
Before students can receive any federal loan funds, they must complete a federal loan entrance interview. The federal loan entrance interview explains students’ rights and responsibilities as federal loan borrowers. Federal aid cannot be released into students’ accounts unless this requirement is met.
Students must complete a federal loan exit interview before graduation or when they fall below half-time status (6 credits). The federal loan exit interview explains the basic terms and repayment schedule of federal loans. Failure to complete a federal loan exit interview will result in the withholding of a student’s diploma and an official Columbia University transcripts.
If a student’s account is placed on hold for outstanding account balances, failure to satisfy immunization requirements, or any other reason, the Financial Aid Office is unable to release or process any financial aid for that semester. You cannot be an officially registered student unless this hold is lifted and classes are posted onto the University’s system. Once officially registered, your financial aid can be processed and funds can be released. Please refer to EMBA Academic Life for additional information.
Satisfactory Academic Progress
Satisfactory academic progress must be maintained by a student in order to receive federal financial aid. A Columbia Business School student must:
- Maintain the School’s standards for academics.
- Limit the number of LPs on his or her transcript. No more than three LPs may count toward the degree.
If a student fails to maintain these standards federal aid will be denied until the student is able to demonstrate sufficient satisfactory academic progress.
The Department of Education randomly selects 30 percent of FAFSA applications for a process called verification. If you are selected for verification, you will be notified both by the Department of Education via your SAR (student aid report) and by the School via a “missing information” letter. Before the School can finish processing any federal aid, the student must complete and sign a verification worksheet and a signed federal tax return. Once all documents have been collected and reviewed, the School will be able to finish processing the student’s federal aid and release an award letter.
If you were selected for verification, please contact the Financial Aid Office and request a verification worksheet.