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    Alaska Pacific University
   
 
  Oct 17, 2017
 
 
    
2017-2018 APU Catalog

Financial Aid


 

The Financial Aid office administers funding and provides resources to assist students in meeting the cost of a University education. Scholarships, grants, work-study and loans are the most common forms of financial aid funding. Sources of financial aid include institutional, federal (also called Title IV funding), state, private or other sources. This section describes important application and eligibility information. It is the responsibility of all students to become familiar with policies and procedures that may affect their financial aid status.

Important:  APU does not mail out individual award letters or student billing statements. Students will receive email communications.

All financial aid and student account information is available via the student portal. The student portal and email are the official methods of communication at APU. It is the student’s responsibility to check the portal and APU email for correspondence.

Please contact us with any questions or concerns related to financial aid.  Email: finaid@alaskapacific.edu, phone: (907) 564-8341. Financial Aid is located on campus in Carr-Gottstein, Room 106. Our normal office hours are from 8:00 am to 5:00 PM Monday through Friday – appointments are not required.

Please see the Tuition and Payment Information section for tuition & fees, housing & meal plan costs, billing and payment information.

Federal Financial Aid Eligibility

To be considered for financial aid, a student must comply with the following requirements:

  1. Students must be fully admitted to Alaska Pacific University as a degree-seeking student. Provisional or early decision status does not qualify for Federal Aid.
  2. Half-time enrollment allows eligible students to receive federal student loans.
  3. Students interested in alternative (private) loans must apply directly through their chosen lender.
  4. Complete a Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov and request the results be sent to APU, school code 001061. The results will be received electronically by APU from the federal processing center.
  5. Review the Student Aid Report (SAR) generated after submitting the FAFSA and complete additional requirements such as documentation, verification, corrections.
  6. Respond to and complete other requests by the Financial Aid office or agency.
  7. Accept/decline awards electronically through the student portal by the required date. A financial aid offer is not valid until the awards acceptance has been submitted through the student portal or in writing to the APU Financial Aid office.
  8. Submit a Master Promissory Note if accepting federal student loans for the first time or do not have a valid MPN. It is valid for 10 years.
  9. Complete Loan Entrance Counseling if accepting federal student loans for the first time at APU.
  10. Comply with all application deadlines. The FAFSA must be completed annually.
  11. Notify the Financial Aid office in writing of any of the following changes: course load, withdrawal, marital status, residence, living arrangements, or aid received from outside sources.
  12. Maintain good academic standing and make satisfactory progress toward completing an academic program in accordance with APU Satisfactory Academic Progress (SAP) Standards for Financial Aid Recipients.

Free Application for Federal Student Aid (FAFSA)

The FAFSA is the required application for federal financial aid including: Federal Direct Subsidized and Unsubsidized Loans, Direct Parent Plus Loans, Direct Graduate Plus Loans, Federal Pell Grant, Federal Supplemental Education Opportunity Grant, and Federal Work Study. APU requires the FAFSA for a student to be considered for institutional need-based aid. All new students for fall semester should file the FAFSA by February 1 for priority processing. All returning students for fall semester should file the FAFSA by June 1, or by an earlier published deadline for donor-funded scholarship consideration.

Accuracy is important!

We recommend students and parent(s) take advantage of the IRS data retrieval tool offered as part of the FAFSA on the Web process. Transferring tax data directly from the IRS to your FAFSA may eliminate the need to verify tax information later and reduce the amount of time required to file the application.  Submit the FAFSA electronically at www.fafsa.gov.

Federal and State Financial Aid Disbursement Rules

Federal and state regulations require that a student must be in attendance at least half-time (3 credits graduate students; 6 credits undergraduate students) before APU can disburse federal and state funds. Adding and dropping classes may affect the amount of federal/state financial aid a student receives.

Students who receive loans may need to sign for the check in the Financial Aid office, though most will be credited automatically via electronic fund transfer. The student will receive written notice from the Financial Aid office if they need to endorse their check. If the student does not sign within 30 days, the check will be returned to the lender. If the student still requires a loan, the student must reapply for a new loan.

All financial aid awarded, with the exception of Federal Work Study, is credited to the student’s account after the student signs an award letter and, if required, endorses a paper loan or scholarship check.

Some students receive financial aid in excess of direct university costs. In such cases, the portion exceeding direct costs is refunded to the student as long as it does not exceed the cost of attendance. Federal guidelines allow institutions up to 14 days after receipt of federal funds to process any applicable refunds. This allows APU adequate time to verify the student’s enrollment and attendance in all classes. As mentioned above, drops and adds affect the student’s eligibility for all types of financial aid. It is the student’s responsibility to make sure they are enrolled in the required number of credits for each type of aid they are receiving.

Students having a sufficient credit balance on their account after federal aid is received may request an online voucher for their books from the Student Accounts Specialist (studentaccounts@alaskapacific.edu). The cost of the books will be added the student’s account, thus reducing the credit balance to be refunded.

If a student’s federal aid is applied to their account after the census date and a credit balance is created, the refund will be processed within 14 days.

Refund checks will be disbursed from the Student Enrollment Services office and will require a picture ID and student signature. If the student is unable to pick it up in person, they will be required to provide written authorization along with a copy of some form of identification (APU e-mail address is acceptable) for the Student Accounts office to mail the refund check to the address specified by the student.

Discontinuance of Attendance

Students who drop classes may have their financial aid reduced if they then fall below the full-time/half-time credit requirement for a particular type of financial aid. Students who withdraw from APU must notify the Financial Aid office and the Registrar so that refund calculations or late disbursements may be made. Students who withdraw from APU may be required to begin immediate student loan repayment. Federal regulations require all student loan borrowers to participate in Exit Loan Counseling whenever they withdraw or graduate from APU to better understand their rights and responsibilities as borrowers.

Sharing Financial Aid Funds between Institutions of Higher Learning

Federal financial aid cannot be divided between institutions unless there is a consortium agreement between the institutions. The financial aid will be processed at the institution where the student is pursuing their degree, the home school. APU participates in a very limited number of consortium agreements. The home school will process the federal aid and any refund due to the student will be disbursed to the student approximately 14 days after the beginning of the semester or receipt of the funds, whichever is later. It is the student’s responsibility to pay the tuition and fees at the host institution.

University awards from APU will not be divided between APU and another institution of higher learning.

Traditional Undergraduate Scholarship and Grant Eligibility

Note that APU scholarships and awards may change in name but have the same award amount with similar renewal criteria.

APU Performance Scholarships

Performance scholarships are merit-based and awarded only prior to enrollment. All awards are applied toward tuition for the Fall and Spring semesters only. Students must be enrolled full time and maintain a 2.5 cumulative GPA to remain eligible (assessed following each spring semester).  Students must maintain financial aid Satisfactory Academic Progress (assessed at the end of every semester). Award length up to five years.

Atwood (merit) – $7,000

  • 3.85 GPA, or
  • 1390+ SAT Composite, or
  • 30+ ACT Composite

Presidential (merit) – $5,000

  • 3.50 GPA

Trustee (merit) – $2,500

  • 3.00 GPA

Peterson (merit) – $1,500

  • 2.75 GPA

APU Need-based Grants

Need-based grants assist with the tuition cost of 12-18 credits per semester not otherwise satisfied by institutional scholarships and discounts, donor-funded scholarships, Federal Student Aid grants, and state scholarships and grants. There will be no case for which the APU need-based grant is applied to non-tuition expenses, nor may it be refunded as cash. Other private/external scholarships or grants may be applied toward remaining costs without negatively impacting the need-based grant.

Need-based grants are awarded each year based on grant program eligibility. All awards are applied toward tuition for the Fall and Spring semesters only and do not apply to tuition overload credits. Continued eligibility and grant amounts will be based on the FAFSA Expected Family Contribution (EFC) each year. Students must be enrolled full time and maintain Satisfactory Academic Progress standards (see SAP section below) to remain eligible (assessed following each spring semester). Award length up to five years.

Promise Tuition Grant – Valued at up to $12,900

  • FAFSA completed
  • Pell eligible EFC
  • APU donor-funded scholarship application completed

APU Gap Grant – Valued at up to $7,000

  • FAFSA completed
  • Variable EFC of up to $20,000
  • APU donor-funded scholarship application completed

APU Additional Scholarships

Additional scholarships are awarded only prior to enrollment. All awards are applied toward tuition for the Fall and Spring semesters only. Students must be enrolled full time and maintain Satisfactory Academic Progress standards (see SAP section below) to remain eligible (assessed following each spring semester). Award length up to five years.

AK Award – $2,000

  • Alaska high school graduate
  • Alaska resident

APU Education Grant – $1,000

  • Non-Alaska resident

May Block Flex Plan Eligibility

The May Block flex plan is only for students in the traditional undergraduate program who are attending full-time (12 or more credits) in the spring semester. Students who drop to less than full-time in the spring semester are not eligible for the flex plan. Students must apply for the flex plan benefit; it is not automatic. The deadline for applications is the end of the spring semester. The Flex Plan covers eligible tuition only; the student is responsible for the Student Activity Fee, Course Lab Fee, Travel Fees, and/or other fees.

The flex plan allows students who register and complete 12-17 credits in the spring semester to ‘flex’ 1-4 credits in the May Block. The flex plan is processed through the Financial Aid office and is applied to the student’s account as financial aid. Students may not combine the block and session courses from different semesters and receive aid, as this is not allowed by federal regulations. Students may not count May Block as part of their spring semester. 

Professional Studies Undergraduate Grant Eligibility

Note that APU scholarships and awards may change in name but have the same award amount with similar renewal criteria.

Need-based Grants

Need-based grants assist with the tuition cost of 12-18 credits per semester not otherwise satisfied by institutional scholarships and discounts, donor-funded scholarships, Federal Student Aid grants, and state scholarships and grants. There will be no case for which the APU need-based grant is applied to non-tuition expenses, nor may it be refunded as cash. Other private/external scholarships or grants may be applied toward remaining costs without negatively impacting the need-based grant.

Need-based grants are awarded each year based on grant program eligibility. All awards are applied toward tuition for the Fall and Spring semesters only and do not apply to tuition overload credits. Continued eligibility and grant amounts will be based on the FAFSA Expected Family Contribution (EFC) each year. Students must be enrolled full time and maintain Satisfactory Academic Progress standards (see SAP section below) to remain eligible (assessed following each spring semester). Award length up to five years.

Promise Tuition Grant – Valued at up to $3,000

  • FAFSA completed
  • Pell eligible EFC
  • APU donor-funded scholarship application completed

Other Scholarship and Loan Information

APU participates in the Alaska Supplemental Loan Program, the Alaska Performance Scholarship Program and the Alaska Education Grant Program.
Please see http://acpe.alaska.gov/ for more information.

Satisfactory Academic Progress (SAP) Standards for Financial Aid Recipients

Satisfactory Academic Progress (SAP) is used to define successful completion of coursework to maintain eligibility for student financial aid. Federal regulations require Alaska Pacific University (APU) to establish, publish and apply standards to monitor student progress toward completion of a degree program. All students who receive financial aid, whether from federal, state or APU-funded sources, must be enrolled degree candidates in good standing to retain financial aid awards. Please be advised, however, that some scholarships and waivers may have higher GPA or other standards for continued receipt. Students who fail to meet these standards will be placed on financial aid warning or suspension. Student academic performance must meet the three SAP standards below and will be evaluated each semester to determine the subsequent semester eligibility for financial aid.

1)    Grade Point Average (GPA):  Undergraduate students with attempted hours of 0-29 are required to maintain a minimum cumulative GPA of 2.0 and undergraduate students with attempted hours of 30 or more are required to maintain a minimum 2.25 cumulative GPA. Graduate students are required to maintain a minimum cumulative GPA of 3.00, with no semester falling below 2.50. Only the most recent grade of a repeated course will be used in the calculation of the cumulative GPA.

2)    Percentage of courses passed (Completion Rate):  All students must maintain a minimum of 66.7% completion rate of cumulative attempted credit hours. The total number of credits attempted to date (including any course enrolled past the drop/add period) will be compared to the total number of credits earned. Grades of F, I, W, WU, and NC indicate unsatisfactory completion (unearned) for financial aid purposes. An incomplete grade (I) will be treated as an “F” until work is completed and the grade is recorded. Students may not receive federal aid for a course repeated a second time (third time taking a course).

3)    Time to degree completion (Maximum Timeframe):  Also known as the 150% Rule, students are eligible to receive financial aid for a maximum timeframe of 150 percent of the published credits required to complete a degree program. For example, if a degree program requires 64 credits students are eligible for aid up to 96 credits; or if a degree program requires 128 credits students are eligible for aid up to 192 credits. Monitoring begins from the first credit attempted, regardless of whether or not the student received federal financial aid. Any credit-based course, including transferred courses or repeated courses, are included in this calculation. All enrollment periods count toward maximum time frames, regardless of a change in degree or major or whether or not aid was received. If a student meets the degree requirements for graduation, they are no longer eligible for federal, state, and institutional financial aid.

Monitoring SAP Eligibility: Warning, Suspension, Appeal, and Probation

SAP Warning:  Students who fail to complete the required minimum number of credits to maintain the 66.7% completion rate of attempted hours or fail to meet the required minimum cumulative grade point average will be placed on warning for the subsequent semester. All students placed on warning will receive a letter of current eligibility status. Students on warning will be eligible to receive federal and state financial aid during their semester of warning; however, students on warning after the spring semester evaluation period for institutional aid will not be eligible to receive institutional aid during their semester of warning. Students placed on warning and their advisors will see an alert message in the university’s CAMS software system. Failure to regain good standing within the one semester of warning will result in the suspension of federal and state financial aid.

SAP Suspension:  Students whose academic records fall below the minimum SAP standards stated above after the warning semester or upon reaching the maximum timeframe will be suspended from receiving future federal, state, and institutional financial aid payments. Suspended students may appeal their SAP status and, if approved, be placed on Probation to receive federal and state financial aid for a probationary semester. Students who do not appeal or do not have an appeal approved remain on suspension and may attend APU without the use of federal, state or institutional aid until SAP conditions are met.

SAP Appeal:  A student whose financial aid has been suspended may submit a written appeal of extenuating circumstances to the Financial Aid office. Extenuating circumstances may include but are not limited to: illness, accident, injury, death, divorce, personal problems; successfully following a prescribed academic plan; or degree extension (dual/second degree). The student must complete an APU SAP Appeal form and submit all supporting documentation prior to the semester bill due date for guaranteed review by the semester start date. Appeal forms are available in the Financial Aid office. Appeals are reviewed by the Financial Aid Appeals committee and all decisions are final. Students who successfully appeal are placed on SAP probation.

SAP Probation:  Students who have successfully appealed their SAP suspension are placed on SAP probation and will be eligible to receive federal and state financial aid, but not institutional aid, during their semester of probation. Students placed on probation and their advisors will see an alert message in the university’s CAMS software system warning them of the probation status. Students who, at the conclusion of the probationary period, are making satisfactory academic progress will have their financial aid reinstated unconditionally for the next award term. Failure to meet the requirement of the approval within the one semester of probation will result in the suspension of federal and state financial aid, and continued ineligibility for institutional aid.

Other SAP Eligibility Factors

Early Honors:  Credits earned as an Early Honors student at APU will be included in the cumulative completed credits percentage, GPA, and the maximum attempted credits calculation. Credits earned at another postsecondary institution which count towards an APU degree will be treated as transfer credits.

Extensions:  A student adding a second degree or changing majors may request an extension of the maximum attempted credits provision of this policy by submitting a SAP appeal. Students pursuing a second degree or teacher certification must complete degree/certification requirements within 2 years of full-time enrollment.

Military service:  For students who are required to withdraw for mandated military reasons, percentage of courses passed and time to degree completion requirements will be waived for the semester of official withdrawal.

Withdraws:  Students who consider withdrawing from some or all of their courses during a semester are urged to seek academic and financial aid advising to review the impact of withdrawal. Timing of withdrawal determines marks on transcripts, SAP eligibility, loss/return of financial aid funds, and the student account balance.