Gwynedd Mercy University ( v 8-11-21 )
AY2021-2022 Graduate Academic Catalog
courses without any financial aid support until all academic standards are met as described in this policy . Successful completion means receiving a grade of A , B or C . Withdrawals , incompletes and audits do not count as a successful completion grade .
If a student ’ s academic progress appeal is approved and an academic plan is developed , then they may receive financial aid on a probationary status ( for either one semester or one year as determined by the appeals committee ) until satisfactory academic progress criteria is met .
Regaining Financial Aid Eligibility
If a student does not meet satisfactory academic progress requirements and chooses to enroll at the University without financial aid assistance , academic progress will be checked again at the end of that term of enrollment . At that time , if the progress requirements are met , the student ’ s financial aid eligibility will be reinstated for subsequent semesters . Institutionally-administered grants and scholarships will be reinstated for the student IF funds are still available at the time of awarding .
Return of Title IV Funds
The Office of Student Financial aid recalculates federal financial aid eligibility for students who withdraw prior to completing 60 % of a payment period or semester , drop out , are dismissed . Recalculation is based on the percentage of earned aid using the following federal Return of Title IV Funds formula : Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or semester . ( Any break of five days or more is not counted as part of the days in the semester .) This percentage is also the percentage of earned aid . Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula : Aid to be returned = ( 100 % of the aid that could be disbursed minus the percentage of earned aid ) multiplied by the total amount of aid that could have been disbursed during the payment period or semester .
If a student earned less aid than was disbursed , the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds . Keep in mind that when Title IV funds are returned , the student borrower may owe a balance to the institution . If a student earned more aid than was disbursed to him / her , the institution would owe the student a post withdrawal disbursement , which must be paid within 120 days of the student ’ s withdrawal . The institution must return the amount of Title IV funds for which it is responsible no later than 45days after the date of the determination for post withdrawal disbursement must be offered to the student within 30 days of the date of determination .
Refunds are allocated in the following order : Unsubsidized Federal Direct Loans Subsidized Federal Direct Loans Federal Parent Direct ( PLUS ) Loans Federal PELL Grant for which a return of funds is required Federal Supplemental Opportunity Grants for which a return of funds is required Unofficial Withdrawals ( all F Grades ) If a student who began attendance and has not officially withdrawn fails to earn a passing grade in at least one course offered over an entire period , Gwynedd Mercy University must assume , for Title IV
39