Financial Aid

Financial Aid
Albion College offers need-based financial aid in the form of grants, scholarships, loans and student employment. Sources of funds include Albion College scholarships, grants and work; private sources; and State of Michigan and federal grant, loan and work programs administered by the College. To apply for financial aid, students must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA may be obtained from your high school guidance office, the Albion College Financial Aid Office or completed online at www.fafsa.ed.gov. The Albion College Financial Aid Office will develop a financial aid package based on the FAFSA information. The package will include a combination of grants, scholarships, loans and work. Students have the option of accepting all or part of the aid awarded. Albion College also offers a number of academic scholarships to incoming students. Students who qualify for an academic scholarship receive notification from the Admissions Office.

While we do everything we can to assist students with financial need, it is important to remember that, at Albion, we believe the primary responsibility for financing your education lies with you and your family. In awarding need-based aid, the College requires that each student and his/her parent(s) contribute funds toward the cost of the student's education.

Information about loans, scholarships and work opportunities may be secured by contacting Albion's Financial Aid Office. Because the amount of aid is limited, entering first-year students applying for financial aid are urged to make their requests by filing the FAFSA as soon after January 1 of their senior year as possible. Awards are made in the order that processed forms are received. The deadline for the State of Michigan scholarship/grant program is March 1. For maximum consideration, Albion academic scholarship applications must be received by February 1.

Need-Based Aid Renewal
You must reapply annually for need-based financial aid. All enrolled students receiving aid automatically receive renewal information in early December. Based on available funding, aid usually continues at the same level each year, unless there is a change in your family situation.

Satisfactory Progress Policy
The Higher Education Act of 1965, as amended by Congress in 1980 and reauthorized in 1992, mandates that institutions of higher education maintain minimum standards of ``satisfactory progress'' in order for students to receive financial aid. Albion College makes these standards applicable to all need-based institutional awards, Federal Pell Grants, federal campus-based programs, Federal Stafford Loans, Federal Parent Loans for Undergraduate Students and State of Michigan awards in order to maintain a consistent policy for all students receiving assistance. To satisfy satisfactory progress requirements, a student must maintain a minimum G.P.A. each semester, complete a required number of units each year and complete degree requirements within a determined number of semesters. An Albion College student is eligible for the equivalent of eight full-time semesters of financial aid. Students enrolled in the teacher certification program or the Bachelor of Fine Arts (B.F.A.) program may be required to attend one additional semester. These students will be given nine semesters of aid in which to receive their degree/certificates. Students who do not complete their degree in eight semesters (or nine for teacher certification or B.F.A.) will not be eligible for additional financial aid.

A full-time student is one who is enrolled for at least 3.0 units each semester. A half-time student is one who is enrolled for at least 1.5 units per semester. Students carrying fewer than 1.5 units will be considered a quarter-time student. Semesters in which the student is enrolled exclusively for a one-unit internship, or summer semesters in which the student is enrolled for one unit, do not count toward the maximum semester limitation as indicated above. Other part-time semesters will be equated to full-time semesters. Students planning to enroll part-time should notify the Financial Aid Office.

All full-time semesters for which the student is enrolled in the College are counted in the eight-semester limitation (nine semesters for teacher certification or B.F.A.) even if no financial aid was received. Semesters in which the student enrolled and attended any classes will count in semesters attended, including semesters in which a student withdraws or takes a leave of absence.

Grade point average (G.P.A.) and units completed are reviewed for satisfactory academic progress at the end of the spring semester. Students must maintain the following cumulative average and units completed:

1.00 with a minimum of 3 units completed at the end of the first semester at Albion College;

1.62 with at minimum of 6 units completed at the end of the second semester at Albion;

1.75 with a minimum of 9 units completed at the end of the third semester at Albion;

1.81 with a minimum of 13 units completed at the end of the fourth semester at Albion;

1.90 with a minimum of 17 units completed at the end of the fifth semester at Albion;

2.00 with a minimum of 21 units completed at the end of the sixth semester at Albion;

2.00 with a minimum of 25 units completed at the end of the seventh semester at Albion;

In addition, regardless of the cumulative grade point average, a student who fails to obtain a minimum 2.0 G.P.A. for three consecutive semesters is not considered to be making satisfactory academic progress for aid renewal.

Transfer Students--Class standing of transfer students will be considered according to units transferred in. For example, a student who is deemed to have first-semester sophomore class standing upon entrance will be eligible for six semesters of Albion College financial aid.

Notification--The Financial Aid Office will notify any student qualifying for financial assistance who does not meet minimum satisfactory progress and is being terminated from aid. Following the spring semester, notices will be sent to the most recent permanent address supplied to the registrar by the student and such notices are considered delivered.

Regaining Eligibility--A student who has insufficient units to qualify for aid may be considered eligible for aid only when enough units, including incomplete courses, have been completed to make up the unit shortage. Unit credit may be transferred in, but G.P.A. will be affected only by courses taken at Albion College. The academic year will be considered to commence with the first day of classes of the fall semester and continue to the first day of classes the following fall, thus allowing the possibility of reinstatement of aid eligibility over the summer term. If a student had mitigating circumstances that prohibited him/her from meeting the standards, the student may submit an appeal. Appeals must be made in writing to the Financial Aid Office, and they will be reviewed by the Appeals Committee prior to the start of the semester in which reinstatement of financial aid eligibility is requested. Examples of mitigating circumstances include: illness, change of major, unexpected hardships and death in the immediate family.

Academic Withdrawal--See p. 109 for academic status and withdrawal information.

Albion College Academic Scholarship Renewal
Academic scholarships are renewable annually provided students maintain the required yearly grade-point average and are in good personal standing with the College. Scholarship recipients are expected to maintain superior academic performance while at Albion College. To renew a Distinguished Albion Scholar award, a Trustee Scholarship and a Presidential Scholarship, a student must maintain a yearly grade point average of 3.00. To renew a Webster or Briton Scholarship, a student must maintain a yearly grade point average of 2.50.
Grade point averages and units earned are reviewed at the end of the academic year by the Financial Aid Office. A student's first year of college is often the most challenging. Therefore, students are encouraged to seek the advice of their faculty adviser while making decisions regarding their class schedule. Eligibility to retain an academic award will require the yearly G.P.A. or a written plan of action from the faculty adviser regarding the issues surrounding a student's G.P.A. Students must also maintain good social standing to be eligible for renewal of an academic award, as defined in Albion College's online Student Handbook.

Student Employment
Campus employment is available to help students meet expenses. Federal Work-Study programs are available for students who show financial need, based on analysis of the FAFSA. In addition to on-campus Work-Study positions, there are positions available off-campus in the community of Albion that are now funded through the federal Work-Study program.Earnings from student employment are paid directly to the student by payroll check each month; the amount earned is not credited to the student's account.

The Student Employment Office has a listing of on- and off-campus jobs that are available for everyone (Work-Study and non-Work-Study students). Jobs are also listed online at www.albion.edu/financialaid/jobopenings.asp. This listing includes job description, qualifications needed and rate of pay.