Philosophy of Financial Aid
The Office of Financial Aid at Adrian College is committed to assisting students find the best financial options for their education. The mission of the Office of Financial Aid is to provide access to financial aid information and resources to students, who without such assistance would be less likely to attend an institution of higher education.
Operating Policies
The following operating policies are designed to assure that the financial aid office is effective in carrying out its responsibilities.
- All students must apply for financial assistance by submitting appropriate application forms to the Office of Financial Aid.
- All funds available to Adrian College for financial assistance shall be administered through the financial aid office. When funds or awards are received from outside sources by other offices (such as Student Business Services) that office will be required to notify the financial aid office.
- The Office of Financial Aid shall maintain adequate records to ensure proper administration of aid funds. This includes ensuring that aid given is not in excess of the cost of attendance and that aggregate awards do not exceed total expenditures of funds under each program.
- Selection of students to receive financial aid will be made without regard to age, sex, race, color, religion, sexual orientation, national origin, disability or marital status.
- Priority consideration for aid is given to students whose files are complete by March 1st prior to the award year.
- All students applying for aid are required to apply annually for Federal, Institutional and State Assistance
General Eligibility
A student must meet certain requirements to be eligible for Federal financial aid. Those requirements include but are not limited to:
-
Be a U.S. citizen or eligible noncitizen.
-
Have a valid Social Security Number.
-
Have a high school diploma, a General Education Development (GED) Certificate or equivalent.
-
Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a school that participates in the federal student aid programs.
-
Not have a drug conviction for an offense that occurred while the student received federal aid (such as grants, loans, or work-study).
-
Be meeting the requirements for SAP.
-
In addition, a student must not owe a refund on a federal grant, be in default on a federal student loan and must demonstrate financial need (except for unsubsidized loans).
An award package is offered after a student has fulfilled the following:
Students should complete their file by March 1 to be given priority consideration for the following academic year. Files completed after that date will be considered late applications and will be awarded aid in the order in which the applications were completed.
Financial Aid Programs
Adrian College Scholarship and Grant Policy
Adrian College Scholarships/Grants are earmarked for full-time, degree-seeking study for up to eight semesters of undergraduate course enrollment. Students may not receive institutional scholarships/grants that are in excess of tuition and fees. Outside scholarships may affect Institutional or State grants and scholarships. Veteran Affairs Benefits, Post 9/11 GI Bill (Chapter 33), and ROTC Full-tuition scholarships are included and will reduce the scholarship/grant eligibility of the student dollar for dollar. Please note that the qualifying for Adrian College Scholarships may reduce previously awarded Adrian College Grants. GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at https://www.benefits.va.gov/gibill.
Adrian College Scholarships
Undergraduate students who are full-time, degree seeking and enter into college with the required SAT and GPA will be reviewed for Adrian College scholarship assistance up to 8 consecutive semesters of on-campus study. Students who receive a merit-based Adrian College Scholarship will need to maintain their full-time status (12 undergraduate credits or above) and maintain good standing to remain eligible. Failure to maintain either criterion could result in loss of the scholarship.
Additional Adrian Scholarships
Additional Adrian scholarships are available for incoming students who attend a Scholarship Day, are children or grandchildren of Adrian College alumni (Legacy Scholarship) or active members of the United Methodist Church.
Adrian College Grants
Students who file the FAFSA will be considered for both needs based and non-need-based grants. These awards may be renewable for up to four consecutive years. Renewal is contingent upon the student’s annual submission of the FAFSA, maintaining satisfactory progress and full-time undergraduate enrollment. Renewal may also be contingent upon the student’s residency status (on or off campus) and funding levels. The Adrian College Grant will be reduced if necessary to maintain Federal, State, and College budgets. Any other financial aid award that exceeds $99 and is not a part of the original financial aid award, whether it be an Adrian College or outside scholarship, Federal/State grant or scholarship money, Federal loan, or tuition waiver, can reduce Adrian College Grants.
Endowment and Contributed Scholarships
Through generous gifts from family, friends and alumni of Adrian College, various scholarship programs have been established. If a specific donor provides a student scholarship, the student may be notified by the Development Office and requested to write a thank you note and/or meet the donor.
State of Michigan Financial Aid Programs
Adrian College participates in several State of Michigan financial aid programs. These programs include but may not be limited to; the Michigan Competitive Scholarship, Michigan Tuition Grant, Tuition Incentive Program and Fostering Futures Scholarship. Michigan residency is required for all state aid programs.
Michigan Tuition Grant
The Tuition Grant Program, established in 1966, provides need-based grants up to Michigan residents attending private colleges in Michigan. Half-time students are also eligible.
Program Details
- Federal processor must receive Free Application for Federal Student Aid (FAFSA) by March 1.
- Must be enrolled at an approved independent, degree-granting Michigan institution.
- Cannot be enrolled in a course of study leading to a degree in theology, divinity, or religious education.
- Must maintain a minimum cumulative GPA of 2.0 or higher and be maintaining SAP.
- Annual Award Amount
- Program is need based.
- Award amount is based on annual State funding levels and a student’s enrollment level.
- Must be registered for at least 6 credit hours.
- Award limited to tuition and mandatory fees.
- Limited to 10 semesters.
Michigan Competitive Scholarship
Established in 1964, this program provides need-based scholarships to Michigan residents attending private colleges in Michigan. Scholarship awards are based on the results of the ACT, which must be taken on or before the first testing date of the senior year, with results sent to the state of Michigan.
Program Details
- Achieve a qualifying ACT score of at least 23 (composite) or 90 (scaled score) prior to entering college. Starting with the Class of 2017, an ACT score will not be considered. Students must achieve a qualifying score of at least 1200 on the SAT.
- Federal processor must receive the Free Application for Federal Student Aid (FAFSA) by March 1.
- Cannot be attending an institution whose primary purpose is to prepare students for ordination or appointment as a member of the clergy of a church, denomination, or religious section.
- Must maintain a minimum cumulative GPA of 2.0 or higher and be maintaining SAP.
Annual Award Amount
- Program is both merit and need based.
- Award amount is based on annual State funding levels and a student’s enrollment level.
- Must be registered for at least 6 credit hours.
- Award is limited to tuition and mandatory fees.
- Limited to 10 semesters.
Tuition Incentive Program (TIP)
Established in 1987, this program provides assistance to Michigan residents that meet certain Medicaid eligibility history requirements. Eligible students must apply prior to High School graduation.
Program Details
- Student must have received Medicaid coverage, as determined by the Michigan Department of Health and Human Services (DHHS), for 24 months within any 36-consecutive month period between age 9 and high school graduation.
- Must submit application by August 31 of the student’s senior year.
- Must begin using TIP within four years after high school graduation.
- Eligibility ends after six years from the date of high school graduation.
- Must be enrolled in an Associate Degree program to qualify for phase 1 award.
Annual Award Amount
- Award is limited to tuition and fees.
- Cannot exceed 80 semester credits.
Federal Aid Programs
Federal Pell Grant
Federal Pell Grants are awarded to undergraduate students who have exceptional financial need and do not have a prior Bachelor’s degree. Students apply using the FAFSA and can receive no more than 12 semesters or the equivalent (roughly six years of full-time enrollment). The amount of this grant is determined by the Federal Government and can change yearly based on funding levels and calculated financial need from the FAFSA.
Federal Supplemental Educational Opportunity Grant (SEOG)
The FSEOG may be awarded to full-time undergraduates whose FAFSA form indicates exceptional financial need. Awards are based on funds available at the time of application. Award amounts are limited and vary.
Federal Campus Employment (Work Study Program)
The federal government supports employment for financially needy students. In addition to demonstrating need, eligibility requires full-time undergraduate enrollment. Awards are based on funds available at the time of application. This program encourages community service work and work related to each student’s course of study, where applicable. Students are responsible for securing employment and perform job duties according to the position description. The number of hours a student may work each week is determined by the amount of the work study award. Assigned work hours may not conflict with class attendance or scheduled examinations. Failure to perform assigned duties satisfactorily may result in job termination. Work study earnings can be applied to semester charges or paid directly to students according to the Student Pay Schedule established by Payroll Department.
Federal Direct Subsidized Stafford Loan
Undergraduate students who demonstrate financial need (based on their FAFSA results) may be eligible for a Federal Direct Subsidized Loan. Interest is paid by the federal government during eligible in-school, grace and deferment periods. The subsidized loan does NOT accrue interest while the student is enrolled at least half-time. There is a 6-month grace period after graduation or dropping below half-time before repayment is required. The repayment period can be as long as 10 years. The Financial Aid Office will notify students, who are eligible to borrow a Subsidized Stafford Loan, of their maximum eligibility. Maximum loan amounts are based on grade level and financial need.
Federal Direct Unsubsidized Stafford Loan
The unsubsidized loan is NOT based on financial need and is awarded to both undergraduate and graduate students. The student is responsible for paying the interest, which begins accruing as soon as the loan is disbursed. There is a 6-month grace period after graduation or dropping below half-time before repayment is required. The repayment period can be as long as 10 years. The unsubsidized loan DOES accrue interest while the student is in school. Students can make interest payments or let the interest capitalize. The Financial Aid Office will notify students, who are eligible to borrow an Unsubsidized Stafford Loan, of their maximum eligibility. Maximum loan amounts are based on grade level, dependency status and financial need.
Loan Limits
The chart below illustrates the annual loan limits based on dependency status and class standing.
The chart below illustrates the aggregate loan limits based on dependency status and program.
Federal Parent Loan for Undergraduate Students (PLUS)
The Federal PLUS program allows parents to borrow up to the cost of attendance minus estimated financial aid for the academic year for each dependent student enrolled at least half time. These loans are the financial responsibility of the parent borrower. The borrower has the option of beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed or wait until six months after the dependent student on whose behalf the parent borrowed ceases to be enrolled on at least a half-time basis. The College determines maximum eligibility based on the student’s federal cost of attendance minus all other forms of aid. The parent applicant will need to complete a Parent PLUS application and PLUS direct loan master promissory note yearly at studentaid.gov.
Outside Scholarships and Reimbursement Programs
Outside Scholarships
An outside scholarship is any scholarship not awarded by the government or the school, such as a scholarship provided by a private sector company, high school or community foundation. Outside scholarships are considered resources, meaning that they may reduce a student’s financial aid package dollar for dollar. Schools often do not have a choice in the matter. Federal rules concerning "over award situations" require the school to reduce the financial aid package when the sum of financial aid from all sources exceeds the school's cost of education.
Students are required to report any outside scholarships to the school's financial aid office. If a student fails to report an outside scholarship, they may be required to repay the school or the government all or part of their need-based financial aid package.
Employer Payments or Reimbursement
Employer tuition assistance includes a variety of employer-sponsored programs to help employees and/or their dependents pay for college. In many cases the funds received from these programs may be excluded from income and hence tax-free. Employer reimbursements or payments are considered resources, meaning that they may reduce a student’s financial aid package dollar for dollar. Schools often do not have a choice in the matter. Federal rules concerning "over award situations" require the school to reduce the financial aid package when the sum of financial aid from all sources exceeds the school's cost of education. Students are required to report any outside employer reimbursement or payments to the school's financial aid office. If a student fails to report an outside scholarship, they may be required to repay the school or the government all or part of their need-based financial aid package.
Other Loan and Financing Options
Private Student Loans
Private Education Loans, also known as Alternative Education Loans, help bridge the gap between the actual cost of a student’s education and all other educational resources. Private loans are offered by private lenders and do not require a FAFSA to be filed. The Office of Financial Aid recommends that students exhaust federal student loan eligibility before resorting to a private student loan.
Payment Plans
Adrian College offers deferred payment plan options. Please refer to the Payment of Accounts section of the catalog for more information. Students and parents can also inquire with the Student Business Services Office additional information and payment options.