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Financial Aid Policies |
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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 full-time status (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. The Financial Aid Office will review your eligibility and inform you of your options. Federal Loan Entrance/ Exit Interview Before a student can receive any federal loan funds, a Federal Loan Entrance Interview must be completed. The Federal Loan Entrance Interview explains the student’s rights and responsibilities as a federal loan borrower. Federal aid cannot be released onto a student’s account unless this requirement is met. The Federal Loan Exit Interview must be completed before graduation or when a student falls below half-time status (6 credits). The Federal Loan Exit Interview explains the basic terms and repayment schedule of federal loans. Failure to complete the Federal Loan Exit Interview will result in the withholding of your diploma and an official Columbia University transcript. Holds 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 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 the Student Academic Affairs website for additional information. Satisfactory Academic Progress Satisfactory Academic Progress (SAP) must be maintained by a student in order to receive federal financial aid. For students entering in the 2009-2010 academic year, your academic standards can be found here. If a student fails to maintain these standards federal aid will be denied until able to demonstrate sufficient Satisfactory Academic Progress. |
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