21 st Century Scholars Frank O Bannon Recipients

Transcription

1 21 st Century Scholars Frank O Bannon Recipients

2 Who: First time recipients What: Completion Requirements to renew Programs Affected: Frank O Bannon, 21 st Century Scholars, and the Part-time grant

3 21 st Century Scholars award is full tuition and fees (as approved by the state) at any public university (capped amount at private and proprietary schools) Scholars must file a FAFSA by March 10; clear any edits by May 15 To renew the award, keep their GPA above satisfactory academic progress mark FR/SO: minimum 1.8 cumulative GPA JR/SR: minimum 2.0 cumulative GPA To renew the award, Scholars must complete 30 credits per year (min. enrollment of full-time status) Some scholars who complete credits may still be eligible for the state s other financial aid program (Frank O Bannon award) This program does not pay full tuition

4 21 st Century Scholarship is limited to four years Earning 30 credits each academic year is the best way to graduate on time. Scholars who complete fewer credits may be eligible for a reduced award (about 35% of the amount you would have received by earning the full award). The reduced award is equivalent to the O Bannon grant and student must meet certain income guidelines to be eligible. Not all scholars qualify. The table below shows how the number of credits completed each year relates to the award amount. 21 st CENTURY SCHOLARSHIP AWARD Approximate Award Amount at a Four-Year Public College End of First Year COLLEGE CREDITS EARNED End of Second Year End of Third Year Full Award 100% of tuition and mandatory fees 30 credits 60 credits 90 credits Reduced Award $2,500 or less credits credits credits No Award $0 23 credits or fewer 47 credits or fewer 71 credits or fewer

5 For the academic year, the Frank O Bannon award will be a combination of a base award and incentive bonuses To renew, keep their GPA above satisfactory academic progress mark FR/SO: minimum 1.8 cumulative GPA JR/SR: minimum 2.0 cumulative GPA To renew, students must complete at least 24 credits per year (full-time base) Students who complete 30 or more per year will get a higher base amount (ontime base) Students can earn additional aid through incentive bonuses for GPA, accelerated class schedule and earning an Associate degree

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7 AP/Dual credits If credit is earned toward a college course Make sure hours transferred to USI Some AP credit may not transfer between schools if a student earns less than a 4 on an AP test Remedial classes The Remedial credits must be earned during the student s first academic year The number of remedial credits that will be counted toward the credit completion requirement will be limited to twelve (12), although the hope is most students will need fewer than twelve (12) credit hours of remediation Classes successfully completed (earned credit) Classes that a grade of D- or higher is made counts as successfully completed even if the class must be retaken to proceed to the next class or to count toward his/her degree Classes that you fail (F), withdraw from (W), or receive an incomplete in (I) do not count toward the credit completion requirement. Repeat Courses will count toward the completion requirements but only one (1) time. In other words, they can be counted the first repeated time after a passing grade is received, but not after that

8 15 to Finish Sign up for and earn 15 credits each semester to earn your degree on-time You have the full academic year to reach your 30 hours completion requirement. Ex. Scholars enrolling in the fall term have through the end of the summer to complete the completion requirement Use the summer Credits earned in the summer count! No full-time enrollment requirement If you have fall/spring refunds, Save $$$ aside for summer expenses Borrow conservatively for fall/spring to allow for borrowing to cover summer expenses 6 hours of enrollment required for loan borrowing Catch up if you fall behind Even if you miss a benchmark one year, you can make up the difference the next year and become eligible for the award again For example, if you only completed 27 credits the first year, but completed 33 the second year for a total of 60, you would start receiving the full award again in the third year.

9 Finish all your coursework Completed credits means a D- or higher Withdrawals, F s, and incompletes do not count Ask for help if disaster strikes Appeal to CHE (Commission of Higher Education of Indiana) to request aid be reinstated if you have circumstances like illness or death in the family Appeals process is currently being designed, more information available in Dec 2013 Likely to be a paper appeals process handled manually by CHE Talk to campus professionals Your academic advisor and financial aid office can help you understand and plan for these changes Financial Aid Contact Info: 812/ or finaid@usi.edu or visit us in the Orr Center

10 With all the new - Don t forget the old requirements Continue to honor the 21 st Century pledge, if a scholar File the FAFSA each year by March 10 th Clear edits by May 15 th Complete all file requirements with your school s FA office Enroll in at least 12 credit hours each fall/spring Meet your credit hour completion requirement of 30 hours to maximize your awards Meet your school s Satisfactory Academic Progress (SAP) policy

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