Policies
Annual Application
Financial aid awards are for one academic year only. A new
financial application and other required forms must be submitted
each year. A separate application may be required for summer
school assistance and is usually available by March 1.
Enrollment Status
Students must be enrolled at least
half-time to receive Federal Stafford Loans. If you receive
loan funds before dropping below 6 semester hours in the Divinity
School or below 4.5 semester hours in the Graduate School of
Arts & Sciences, you may be required to refund all or a
portion of those funds directly to the lender.
Also, you may no longer be eligible to defer repayment on
loan/s borrowed for prior periods of enrollment. To receive
any federal loan, a student must be accepted or enrolled in
a degree or certificate program. Admittance to a graduate program
as a "Special Student" does not meet the admissions
criteria to qualify for federal financial aid. Renewal students
must be in good academic standing and making satisfactory academic
progress in order to receive financial aid.
Verification
The federal government requires schools to verify certain financial
information of aid applicants who are selected for review and
verification on the basis of certain prescribed computer edit
checks. If your application is selected for verification, you
must verify that the information you reported is correct. Therefore,
it is important that you keep copies of your financial records,
including your and/or your spouse’s U.S. income tax returns
(from the previous year), records of benefits received from
the Social Security Administration (Form SSA-1099), Department
of Veteran Affairs, and other agencies. We may also ask you
to complete a Federal Verification Worksheet. If we request
documentation, you must submit it promptly, as we cannot disburse
any financial aid funds until the verification process has been
completed.
Outside Scholarships
Any recipient of additional aid from any source which is not
included in his/her financial aid award letter (North Carolina
Baptist Association, private church funding, outside scholarships,
etc.) is required to notify the Office of Student Financial
Aid. The receipt of additional aid may result in a reduction
of any need-based award if total resources exceed computed financial
need (except for unsubsidized loans, in which case, all sources
of financial aid may not exceed the Cost of Attendance).
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