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Archive for May, 2013

You’ve filled out the FAFSA, you were awarded financial aid, and now you’re set for the rest of the academic year, right? Not so fast. In order to continue receiving federal student aid, you need to make sure you maintain satisfactory academic progress (also known as SAP). Each institution has its own SAP policy for financial aid purposes that should tell you:

  • What grade-point average you need to maintain;
  • How many credits you should have successfully completed by the end of each year;
  • How an incomplete class, withdrawal, or transfer of credits from another school affects your satisfactory academic progress; and
  • What happens if you fail to make satisfactory academic progress.

Your college or university’s policy should also include details about how you might be able to appeal your school’s decision if you haven’t made satisfactory academic progress.

If you aren’t sure if your end-of-term grades are good enough for you to maintain you eligibility for federal financial aid, check with your institution’s financial aid office before you leave campus so you’ll know what you are facing when you return in the fall.

If the news isn’t good, don’t despair. In some cases, students can regain eligibility for federal student aid. Check out the StudentAid.Ed.Gov website ( http://studentaid.ed.gov/eligibility/regain) for more information on how you can maintain or regain your eligibility for financial aid.

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