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Financial Aid Policies
- Students receiving financial aid must be making satisfactory academic progress according to the university’s policy. See the academic section of catalog.
- Students who are United States citizens (including U.S. nationals) or permanent residents of the U.S. (possessing an alien registration, Form I-551) may be considered for financial aid. Other individuals who may be eligible for aid are those possessing a conditional permanent resident (I-551C) or an Arrival-Departure Record (I-94) from the Department of Homeland Security showing any one of the following designations: “Refugee,” or “Asylum Granted,” or “Parolee” (I-94 confirms paroled for a minimum of one year and status has not expired) or “Cuban-Haitian Entrant.” Students on F1 or F2 student visa, or only a J1 or J2 exchange visitor visa, or a G series visa (pertaining to international organizations) are, by definition, in this country on a temporary basis and are not eligible to receive any assistance. Documentation of permanent residency status may be required prior to the awarding of financial aid.
- Students must not owe a refund to any federal (Pell, FSEOG, ACG, SMART) or state grant (NJ TAG, EOF and/or Distinguished/Urban Scholarship) to receive financial aid.
- Students will not be eligible to receive financial assistance from any source (federal, state and university) if they are in default on a student loan received through any federal program (Federal Perkins Loan, Federal Direct Loans, Federal Direct PLUS Loans, Federal Stafford Loan and/or Federal PLUS Loan).
- Students awarded grants/scholarships from Felician University may not receive total grants/scholarships from all sources (institutional, federal, state and external aid) in excess of the total cost of tuition, comprehensive fees, and room & board, if applicable.
- In no case can a student’s total aid package from all sources (grants/scholarship, loans, and/or Federal Work-Study) exceed the student’s cost of education.
- Undergraduate students in their final semester needing fewer than 12 credits to complete their degree requirements will be considered full-time students. Note: Federal Student Aid Regulations supersede this policy when determining eligibility for federal aid. NJ grants will not be awarded on a full-time basis under this clause if the student was not enrolled full time in the prior semester.
All students who are selected by the federal, the state agency or Felician University for verification will be required to provide additional documentation that demonstrates the accuracy of the data previously reported on a financial aid application (FAFSA). Students will be given approximately one month to provide the information once it is requested. Failure to complete the verification process may result in cancelation of financial aid.
- To have complete information regarding fees, payment, and refund policies available to you.
- To have all personal and family financial information treated with sensitivity and confidentiality.
- To have aid awards credited to your account in a timely manner.
- To know the source(s) and amount(s) of aid for which you are eligible.
- To submit an appeal or request a reevaluation if circumstances change.
- To know what portion of your financial aid package must be repaid and what portion does not.
- To request an explanation of the funds in your financial aid package and decline any portion of your award.
- Meet your financial obligations to the university.
- Know and comply with the rules governing all financial aid you receive.
- Read and understand all materials sent by the Office of Student Financial Services.
- Accept responsibility for all agreements signed by you and keep copies of all materials for your records.
- To provide the Office of Student Financial Services with all verification materials requested within the time frame given.
- Complete the Free Application for Federal Student Aid (FAFSA) each year prior to the university’s established priority deadline.
- Advise the Office of Student Financial Services if you change your housing status from the original application and/or change your enrollment status at any time.
- Respond promptly to any information requests from external organizations, including the NJ Higher Education Assistance Authority (NJ HESAA).
- Notify the Office of Student Financial Services immediately if you expect to withdraw or take a leave of absence from the university.
- Advise the Office of Student Financial Services of any additional aid (outside sources) received that are not indicated on your financial aid award letter.
- Maintain good standing and satisfactory academic progress as defined in the academic section of this catalog.
- Report to the Internal Revenue Service (IRS) any grants and/and scholarships that are in excess of tuition, fees and books which completing your federal tax return.