[Students] A few financial aid reminders
Maria Ramos
Maria_Ramos at tamu-commerce.edu
Mon Aug 29 11:39:37 CDT 2011
Our office wants to welcome everyone back to the beginning of another
academic year and we want to send out a few reminders to get everyone
started on the right track.
Minimum number of hours:
One of the requirements of financial aid is that the student must
maintain a certain level of credit hours. The minimum is 6 credit hours.
Our office started releasing financial aid on the 19th of this month
which was the earliest day we could start to release financial aid to
the Office of Student Accounts. We are monitoring enrollment level daily
through census day of this semester, September 14, 2011.
Students who drop below 6 credit hours and remain at less than 6 credit
hours will not be eligible for financial aid. Monitoring has started and
already we are noticing students who have dropped below the 6 credit
hour minimum. Notices will be sent to students no longer in 6 credit
hours to see if there are plans to add a course here and there.
Financial Aid Standards of Academic Progress
<http://web.tamu-commerce.edu/admissions/tuitionCosts/financialAidandSch
olarships/financialAid/awardingAid/satisfactoryAcademicProgress.aspx>
Students need to also remember that to maintain financial aid
eligibility for future enrollment, Financial Aid Standards of Academic
Progress need to be followed each semester. The Financial Aid Standards
of Academic Progress will be monitored at the end of each semester of
enrollment.
Return to Title IV Refunds
<http://web.tamu-commerce.edu/admissions/tuitionCosts/financialAidandSch
olarships/financialAid/awardingAid/withdrawalPolicy.aspx>
We all know that there are instances when a student finds themselves in
a situation where they must fully withdraw from the semester. Students
who receive financial aid and fully withdraw from A&M-Commerce may find
that they must repay all or part of the aid awarded. This calculation
falls under the Return to Title IV Refunds process. Since the financial
aid is released to pay tuition and fees and any credit balance issued to
the student via a refund, the university no longer has access to the
funds. Therefore, the university returns the funds to the appropriate
federal financial aid program(s) affected. The student then owes the
university.
We find that the best analogy as to why the repayment needs to happen is
to give the following example:
Imagine one is employed and one receives 4 months of salary in advance
all at the same time.
The condition is that one must work up to a certain point in time in
order to keep all the advanced salary.
If one were to quit prior to the specific point in time, then repayment
may need to occur.
The amount that will need to be paid back will be based on the date one
quits.
Have a great Fall!
Maria del C. Ramos
Director, Office of Financial Aid and Scholarships
Texas A&M University-Commerce
PO Box 3011
Commerce, TX 75249-3011
Phone: 903-886-5091
Fax: 903-886-5098
http://web.tamu-commerce.edu/
"Most business men generally are so busy coping with immediate and
piecemeal matters that there is a lamentable tendency to let the "long
run" or future take care of itself. We often are so busy "putting out
fires," so to speak, that we find it difficult to do the planning that
would prevent those fires from occurring in the first place. As a
prominent educator has expressed it, Americans generally "spend so much
time on things that are urgent that we have none left to spend on those
that are important."
Gustav Metzman
Please take a minute to complete our We Care
<http://web.tamu-commerce.edu/audience/onestopshop/> survey online and
let us know how we are doing!
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