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Federal regulations require that Prescott College define minimum standards of
Satisfactory Academic Progress to determine eligibility for financial aid. The standards
apply to all federal, state and institutional financial aid programs. This policy mirrors the
academic policy that is published in the Student Handbooks for each program.
Students receiving federal, state and/or institutional aid must complete at least 50% of all
attempted credits in the previous term and 75% of credits attempted over all to maintain
eligibility for financial aid. Incomplete grades DO NOT count toward credits earned and
can jeopardize eligibility for aid.
The Prescott College Financial Aid Office evaluates earned credit hours at the end of every
term and sends notification (via email)
to all students who fall below the minimum
standards.
Extenuating
circumstances sometimes prevent students from earning all credits in a term. Extenuating
circumstances may include illness, serious personal issues, or the death of a family
member. Petition forms are available in the Financial Aid Office and circumstances must
be documented. Students who are experiencing difficulties are highly encouraged to visit
with a Financial Aid Counselor so that we may assist you in every way
possible.
Degree Completion
Federal regulations also require that Prescott College monitor the number of cumulative
credit hours earned for all undergraduate students.
The maximum time frame for the
completion of a degree is limited by federal regulations to 150% of the published length
of the degree program and includes transferable credits from other postsecondary
institutions.
The Prescott College Financial Aid Office evaluates hours earned in January, May and
August of every year. Students who are approaching 150% of their degree requirements
and students who have approached or exceeded 150% will be notified via email.
Students who have earned 150% are suspended from financial aid.
Please be advised that the Prescott College Financial Aid Office cannot accept petitions
for this federal regulation as 150% is the absolute limit for funding. Students approaching
the 150% limit are encouraged to visit with a financial aid counselor so that other funding
options may be pursued.
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