Financial aid in the form of scholarships, loans, and employment is available to students who need assistance in meeting their higher education expenses. All funds are administered by the Financial Aid and Scholarships Department in compliance with federal, state, and institutional guidelines.
Need-Based Aid
Fairmont State primary purpose in awarding financial aid is to assist those students who wish to attend college and need financial assistance to do so. Financial need is defined as the difference between the ‘cost of attendance’ and ‘estimated family contribution’. Cost of attendance (COA) is a comprehensive figure including estimated tuition/fees, room/board, books/supplies and other educationally related expenses. Estimated family contribution (EFC) is a measurement of the family’s financial strength and is based upon information provided in the Free Application for Federal Student Aid (FAFSA). By using the available resources, Fairmont State attempts to meet the financial need of all students.
Scholarship Aid
It is the intent of Fairmont State to foster the highest degree of scholarship among its students. The institution actively recruits students who have excellent academic records and recognizes and rewards those who continue to excel.
The objective of the scholarship program is to promote the recruitment and retention of a diverse student body with special talents and abilities. A variety of merit and need-based scholarships have been developed to accomplish this objective.
Fairmont State is ultimately responsible for final approval of scholarship programs and related policies and procedures and elicits recommendations from academic departments in that process. The Fairmont State Foundation, Inc., through the auspices of the Fairmont State Foundation’s Scholarship Committee, collaborates with the Offices of Admissions and Financial Aid and Scholarships to explore new areas of scholarship development and expansion, and assist those interested in establishing new merit-based scholarships or enhancing currently established scholarship programs for Fairmont State.
Fairmont State’s Office of Financial Aid and Scholarships also manages the disbursement of scholarships for a wide range of externally funded programs received by Fairmont State students.
Sources of Financial Aid
Sources and types of financial aid offered by Fairmont State as well as other resources are available on the Financial Aid homepage at http://fairmontstate.edu/finaid/.
Definition of an Academic Year
For Direct Loan processing and other Title IV aid, the academic year at Fairmont State begins with the fall, continues with the spring, and concludes with the summer term.
Procedures for Obtaining Financial Aid
- Students must complete and submit an application for admission to the Office of Admissions (new students only).
- For full consideration of aid based on need, students must complete and submit the Free Application for Federal Student Aid (FAFSA) to the federal processing center by March 1. The FAFSA can continue to be submitted through June 30 of the academic year and must be submitted annually.
- For consideration of eligibility for academic scholarships, students must apply for admission to Fairmont State by December 15. (Admissions/Recruitment and Academic Scholarships) and prior to February 3 for Financial Aid and Foundation scholarships in addition to submitting a scholarship application by February 3.
- Students interested in aid for summer must complete a separate application, which is made available in March.
Satisfactory Academic Progress for Federal Financial Aid
To receive funds administered by the Office of Financial Aid and Scholarships Office, students must be making satisfactory academic progress (SAP) toward completion of an eligible degree or certificate. Federal regulations require evaluation of both quantitative and qualitative academic progress.
For purposes of financial aid and eligibility, academic progress is reviewed at the end of each academic year. This review will occur at the conclusion of the spring semester.
All students enrolling for the first time (including transfers) will be considered to be meeting academic progress in the first semester of enrollment.
Qualitative Progress
This evaluation is based upon the cumulative “Grade Point Average (GPA)” as shown on your academic transcript.
Graduate:
Must meet the following Cumulative GPA: 3.00 or greater.
Quantitative Progress - Pace of Progression and Maximum Time Frame
- Pace: The rate at which attempted academic credits are successfully completed. This is calculated by taking the cumulative number of hours successfully completed and dividing by the cumulative number of hours attempted. Grades of “W”, “F” and “I” count as attempted hours. Transfer hours that appear on your transcript are also included.
A student must be successfully completing 67% of all hours attempted. The calculation will be rounded to the nearest whole Number.
- Maximum Time Frame: The maximum time allowed to complete your degree (including transfer hours) is 150% of the normal time frame. Repeated courses are counted against the maximum time frame.
Graduate program of 36 hours must be completed within 54 attempted hours.
A student who completes the academic requirements for a program but does not yet have the degree or certificate is not eligible for further additional federal student aid funds for that program.
Post-graduate work (credits taken after receiving first degree including a second associate’s or second bachelor’s degree and/or teacher certification) must be completed within 60 hours of post-graduate work. Since all classes attempted will count toward the 60-hour limit, students should meet with their academic advisors to determine what classes are required for completion of the second degree.
Financial aid eligibility is limited to no more than two master’s degrees. Students who wish to pursue additional degrees beyond these may do so but without federal financial assistance.
Failure to Meet Standards of Satisfactory Academic Progress
Students who fail to meet the qualitative or quantitative standards defined above at the end of any enrollment period (including summer), will be placed on “warning” for the next semester. During this warning semester the student may continue to receive financial aid.
Students who are within 15 credit hours or less of the maximum time frame defined above will be place on “warning” for the next semester. During this warning semester the student may continue to receive financial aid.
Failure to meet any of the above defined standards at the end of a “warning” semester will result in the loss of financial aid eligibility for future semesters.
Students will be notified by postal mail and e-mail of SAP status after grades are posted. As soon as the status is updated, it can be viewed on the student’s FELiX account.
Financial Aid Appeal Process:
A student may appeal the loss of financial aid through the Office of Financial Aid and Scholarships.
To appeal, the student must have experienced extenuating circumstances beyond their control which impacted academic progress. Examples of extenuating circumstances are death of immediate family member, injury, illness, or other unusual circumstances presented to the Financial Aid and Scholarships Office.
The appeal must include the following:
- Why the student failed to make Satisfactory Academic Progress;
- What has now changed that will allow the student to make satisfactory academic progress at the end of the next semester (statements of good intent are not sufficient);
- Student’s academic plan that will allow the student to reach the minimum requirements for SAP. The academic plan must include the next semester’s classes. Students must meet with academic advisor to discuss the academic plan;
- Documentation to verify extenuating circumstances.
If the appeal is granted, the student will be placed on financial aid probation for one semester and may receive aid during that probation semester. At the end of the probation semester the student MUST meet the defined SAP standards or meet the academic plan that was developed for the appeal.
Appeals must be submitted by the deadline date established for each semester, generally 2 weeks prior to the start of the semester. Deadline dates will be published on the SAP Appeal form. Late appeals will not be accepted. Students who wish to enroll after the deadline should make plans to pay all charges through personal means.
Appeals will be reviewed by a Financial Aid Committee. If denied by the committee, the student may request that the appeal be reviewed by Director of Financial Aid and Scholarships.
If appeal is denied by the Director of Financial Aid and Scholarships for Fall or Spring, the student can request a review by the Faculty Senate Financial Aid Appeals Committee. This committee will meet one time during the week prior to the start of the Fall and Spring Semesters. Denial of appeals by the Financial Aid Director for the Summer Semester is final.
Students who have lost eligibility for financial aid but have not been academically suspended from Fairmont State may continue to enroll in courses. Students are responsible for the tuition charges. Once the student meets the standards of financial aid satisfactory academic progress, the student may again receive consideration for financial aid.
Title IV Financial Aid Return of Aid Policy
If a student withdraws from school whether officially (he/she completes the withdrawal form or drop all classes on the web) or unofficially (student stops attending classes) and has been awarded and/or paid Title IV Federal Aid, student is subject to a Return of Title IV Aid calculation. This calculation determines how much aid must be returned to the federal programs in the event of a complete official or unofficial withdrawal prior to completing 60% of the term.
The calculation determines the amount of federal aid that is considered to be earned and the amount that is considered to be unearned, and therefore must be returned to the Federal programs. State and/or institutional Aid may also be subject to return based on withdrawal date. The earned/unearned amounts are calculated based on the percent of the term completed. The length of the term is defined as the first day of all classes through the last day of all classes (not including a break of 5 days or more and finals week).
Students who have been awarded aid that has not disbursed will also be reviewed to determine if they are eligible for a post-withdrawal disbursement. Withdrawn students who have been selected for verification but have not provided the documents necessary for disbursement may be eligible for a postwithdrawal disbursement. Their account will be
reviewed and they will be offered a post-withdrawal disbursement if eligible and given 14 - 30 days to return the requested documentation. Students will only be eligible for the percentage of ‘earned’ aid at the time of withdrawal.
Loan Repayment (Education Majors Only):
Once recipients are actively teaching, they may also be eligible for one of these loan repayment programs:
https://secure.cfwv.com/Financial_Aid_Planning/Scholarships/Scholarships_and_Grants/Underwood_Smith_Teacher_Scholarship_Loan_Assistance_Program.aspx
https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/teacher
To determine whether or not you meet federal or state qualifications, please check with the Office of Financial Aid and Scholarships.
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