Your financial aid is based on full-time enrollment, which equals three units per semester. If you enroll for less than three units, your financial aid will be adjusted.
In order to be eligible for financial aid, students must be enrolled at least half-time. If you enroll for less than 1.5 units, your financial aid will be canceled.
Aid eligibility will be based on your enrollment status at the end of the add/drop period for each semester.
Satisfactory Academic Progress
To maintain your financial aid package, you’re required to make “satisfactory academic progress.” This means that you must maintain a minimum grade point average (GPA) each semester, complete a required number of units each year, and complete your degree requirements within a set number of semesters.
GPA and unit requirements follow:
- 1.00 with a minimum of 3 units completed at the end of the first semester at Albion College
- 1.62 with a 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
Any student who fails to obtain a minimum 2.0 GPA for three consecutive semesters is not considered to be making satisfactory academic progress for aid renewal.
Student records will be reviewed by the Registrar’s Office at the end of each semester of the academic year. Students who are placed on semester probation, academic probation, or terminal probation will remain eligible to receive financial aid. Students who are notified of required withdrawal are not eligible to receive financial aid. Visit the Academic Catalog for the full satisfactory progress policy.
Withdrawal or Leave of Absence
If you withdraw from Albion College, you may be eligible for a refund of a portion of the tuition, fees, room and board paid to Albion College for that semester. If you received financial aid, then a portion of the refund will be returned to the grant, scholarship, or loan source from which that aid was received.
Withdrawing or taking a leave of absence may affect the timeline on repayment of your college loans. However, most loans have a grace period that can be applied to a leave of absence.
Students who are considering withdrawing from the College should consult the policy in the online Academic Catalog and with the Vice President for Student Affairs.
Students who do withdraw from the College are subject to the Albion refund policy and the federal Return to Title IV Aid. Specific information regarding both policies is available below.
The Albion College refund policy is as follows: Students who withdraw from Albion College will receive a pro-rated refund of educational fees and room/board charges according to the following schedule:
||75 percent/pro-rated board fees
||40 percent/pro-rated board fees
The federal withdrawal policy is applied to all federal financial aid (Pell, ACG, SMART and SEOG grants, work-study, Perkins, Stafford and PLUS loans). Federal law requires federal aid recipients to "earn" most of the aid they receive by staying enrolled in college at least half-time.
Students who withdraw prior to completing 60 percent of the semester for which they received federal student aid may be required to return some of the aid they were awarded.
The Return of Title IV financial aid is based upon the amount of federal financial aid received, the College charges incurred, AND the date of withdrawal. College charges include tuition, fees, and on-campus housing charges.
Students who withdraw prior to completing 60 percent of the semester will "earn" financial aid paid to them (or used to pay their fees) each day of the quarter they are enrolled.
Students who withdraw after completing 60 percent of the semester will have earned all financial aid received.
The amount of financial aid “earned” will be calculated as follows: the percentage of aid to be returned is equal to the number of calendar days remaining in the semester divided by the number of calendar days in the semester. The College will return to the federal government any funds that were credited from the Albion refund first. If the amount returned by the College is not enough to repay the entire "unearned" amount, the student will be required to return portions of amounts that they received to pay for non-institutional charges – books, supplies, off-campus living expenses.
Amounts that are returned to the federal government, either from the Albion refund or by the student, will first be applied to the student's federal loans. If the student owes any federal loan funds after the College has paid back its share, he or she will be permitted to repay the loans based on the original terms of the loans – usually a ten-year repayment term after a grace period and deferment period if the student returns to school. In addition, the student may be required to return portions of grants such as Federal Pell, ACG, SMART, and Supplemental Educational Opportunity Grants (FSEOG) that they have received. In the case of "unearned" portions of federally funded grants, the student will be expected to pay 50 percent of the "unearned" portion immediately or to make satisfactory arrangements to repay that amount.