Undergraduate Student Financial Aid Handbook School Year. Hawai i Pacific University.

Transcription

1 Undergraduate Student Financial Aid Handbook School Year Hawai i Pacific University

2 Hawai i Pacific University IMPORTANT INFORMATION FOR THE FINANCIAL AID PROCESS PLEASE NOTE Aloha! Staying on top of your financial aid is easier than ever. Just follow the steps below: 1. File your electronic FAFSA at The priority submission deadline for full funding is March 1, 2010, but for late applicants we will attempt to process your financial aid sometime before the end of the term in which you are enrolled. It is best to file at least eight weeks before you expect your financial aid to payout to the school and/or be refunded to you. 2. Read the fine print. This handbook describes the terms and conditions under which we will process your financial aid, and your rights and responsibilities as a financial aid recipient. Take the time to read through this important information to make the best use of your aid. 3. You may receive a letter from us asking for further information. Respond to our request quickly so we can send your financial aid award to you in a timely fashion. 4. You will receive an ed financial aid award letter to your HPU Pipeline address. It will instruct you to respond to your financial aid award in the financial aid section in HPU Pipeline before the deadline indicated on your letter and will advise you of any further documentation you should complete, if necessary. Your financial aid award is determined by the information you originally gave us when you applied for financial aid. If you should have a change to any of the data you submitted, or if you should receive additional scholarships, grants, or other cash benefits, please let us know immediately as it may affect your financial aid. 5. If you have been offered a Stafford Loan or your parents have been offered a PLUS Loan, go to www. hpu.edu/financialaid and click on Loans Stafford or Loans PLUS on the menu. You and your parents will go through the Entrance Interview process and complete your Promissory Notes online. The lender you select will send us the information we need to certify your loans. If you are a first-time borrower, you must complete your Master Promissory Note (MPN) online before we can process your loans. If you are a continuing student and you have already completed an MPN with HPU, you need only accept your financial aid award on HPU Pipeline in order to have your loans processed. 6. You should check your financial aid status periodically to make sure that you are on top of your financial aid, that there are no further documents required. 7. Review the financial aid Web site at There is important information on our Web site for new students and continuing students alike. Everything you must know about financial aid is on HPU Pipeline and the Web site. 8. Keep your , phone, and mailing address current with the University. We want to make sure everything gets to you on time! You can self-update this information via Pipeline. 9. Please comply with due dates and all requests for documentation or additional information from the Financial Aid Office. Mahalo, and welcome to Hawai i Pacific University. 2 Financial Aid Undergraduate Guide

3 Financial Aid for Undergraduate Students ESTIMATED COSTS based on figures Full-time Undergraduate Students living on campus Paid Directly to HPU: Tuition and fees: $15,820* Room and Board: $11,648** Other Estimated Expenses: Books: $1,200 Personal expenses and travel: $1,692 All expenses listed to above are for the nine-month school year. * Based on regular tuition for most majors. **Based on double occupancy in the HPU Residence Hall. IMPORTANT DEADLINES FALL March 1, 2010 Priority Deadline for filing FAFSA March 29 September 10 Registration Period May/June Make sure all financial aid paperwork is complete and submitted to financial aid in order to have funds by September. Students who complete their financial aid requirements after July 1, 2010 may not have funds available at the start of the fall semester. September 3 Fall tuition payment deadline September 6 Labor Day: University offices closed September 7 Instruction begins September 17 Last day to register for classes October 1 Last day to drop without a W grade November 11 Veteran s Day: classes in session, offices closed November 12 Last day to drop classes November Thanksgiving Holiday, University closed December 1 Last day to process loans for the fall 2009 semester December 12 Last day of classes December 19 Term ends Full-time Undergraduate Students living off campus Paid directly to HPU: Tuition and fees: $15,820* Other Estimated Expenses: Room and Board: $11,006 Books: $1,200 Personal expenses and travel: $1,692 Estimated expenses are based on typical charges a student might have to pay for off-campus room and board, books, personal expenses, and travel. Travel expenses for mainland students will be higher (i.e. roundtrip airfare). Your actual expenses for these items may vary. SPRING October/November Make sure all financial aid paperwork is complete and submitted to Financial Aid in order to have funds by January. November 5 January 22, 2011 Registration Period January 17 Martin Luther King Jr. Day: University closed January 21 Spring tuition payment deadline January 24 Instruction begins February 3 Last day to register for classes February 21 President s Day: University closed February 17 Last day to drop without a W grade March Spring Break, Offices closed March April 8 Last day to drop classes May 15 Last day of classes These dates are subject to change please consult the official school calendar on for the officially published school calendar dates. Hawai i Pacific University 3

4 Hawai i Pacific University Your ed Award Letter We will your financial aid award notification to your HPU Pipeline account. This section is provided to explain all of the major sections/items in your ed Financial Aid Award Letter. Each section/ item is numbered and explained. All of the information in your award letter was obtained from your admissions application and the Free Application for Federal Student Aid (FAFSA) that you submitted earlier. 1 Academic Year: This award is for the academic year (fall 2010/spring 2011) 2 Estimated or Revised Award: Initial awards are estimated based on information you provided on the Free Application for Federal Student Aid (FAFSA). Any revisions you might make, or that are caused by further information, will be noted in your financial aid package. 3 5 Budget/Financial Need: Your financial need equation. 5a Your Budget: Your budget has two types of expenses: fixed and nonfixed expenses. Fixed Expenses: Fixed expenses are those charged by the University, such as tuition and on-campus housing, that must be paid at the start of every term. Nonfixed Expenses: Nonfixed expenses are those incurred by the student for non-university charges, such as off-campus housing, books, personal expenses, and transportation. Every year, the financial aid office estimates these expenses based on local and regional market costs. NOTE: Nonfixed expenses also include loan fees if you have been awarded loans. You do not pay these fees out-of-pocket or with other aid, these fees are deducted from the gross loan amount for each of the loans awarded (usually 3%-4%). Sample Letter This is the name and address you reported to us on your admissions application. Please make sure it is correct, as all future correspondence will be sent to this address. Please report a change of address, , or phone immediately. Students who do not have a valid mailing address on file with HPU will not receive an ed award letter. Students can update their mailing address via HPU Pipeline Your Status: Your award is based on your status at Hawai i Pacific University during this academic year (full or part time, type of program, or living situation) as reported by you on your FAFSA and admissions application that you submitted earlier. If you should have a change of status after you submit your FAFSA, please contact our office. 5a 5b 5c 6 5 5d 4 Financial Aid Undergraduate Guide

5 Financial Aid for Undergraduate Students 5b Your EFC: The Federal Government determines your Expected Family Contribution (EFC) based on the income, assets, and family information submitted in your FAFSA. The amount of your EFC determines your eligibility for the Federal Pell Grant and the amount you and/or your parents are expected to contribute toward payment of your total budget. Your EFC was reported to you in your Student Aid Report (SAR) which you should have received about two weeks after submission of the FAFSA. 5c Your Resources: Resources include scholarships, grants, benefits, or other contributions you received for educational purposes. NOTE: If not already reported, you must notify us immediately of all scholarships, grants, benefits, or other contributions you have received or will receive. Disclosure of other resources not already reported may change your initial award letter. Please fax or the Financial Aid Office with this information or complete the scholarship form on page 18. 5d Your Need: Your need is the difference between your Total Budget and the combination of your EFC and other resources you are awarded. 6 Sources of Aid: These are the federal programs that you have been awarded based on your need. The awards may include grants, loans, and work-study. The total amount you can expect to receive for each term and the total for the award year are shown. Aid is generally disbursed in equal amounts for each semester that you are here. If you would like to keep your loans but would like to accept a lesser amount than the amount awarded, you may do so on your HPU Pipeline Accept Award Offers by Aid Year Continued Confirmation of Acceptance: Please pay careful attention to complete all required documents. You can see required documents in My Overall Status of Financial Aid section. You can also download required documents off of the financial aid Web site at Click on download forms. This will ensure that your financial aid processing is completed before the start of school. Please read the Terms and Conditions in this booklet carefully before you accept your award. Hawai i Pacific University 5

6 Hawai i Pacific University Accept Your Financial Aid Award on HPU Pipeline 1. Log in to HPU Pipeline. 2. Go to My Quick Links on the right side of the screen and click on Accept Financial Aid. 3. Choose the year you wish to review, Click on the Accept Award Offer tab. 6 Financial Aid Undergraduate Guide

7 Financial Aid for Undergraduate Students Complete Your Loans Online If you are a first-time borrower here at HPU, you will need to complete a Master Promissory Note [MPN]. After you receive your award letter go to You will be directed to complete online loan entrance counseling, required for all new HPU federal loan borrowers. After Entrance Counseling you will complete a MPN. Complete the online PLUS Loan application every year that you want to borrow the PLUS. The loan application process takes about 30 minutes. Once you have submitted your loan request and it is electronically signed, it will be forwarded to HPU for certification. The loan will disburse directly to your student account here at HPU. Please see important information in the Terms and Conditions (page 10) regarding loan disbursement, and using financial aid to pay for housing. Just accept the loan amount you d like and submit it via HPU Pipeline. Hawai i Pacific University 7

8 Hawai i Pacific University Direct Loan Information A little information about the Federal Direct Stafford Student Loan Program There are two types of Direct Stafford Loans: subsidized and unsubsidized Subsidized: If you receive a subsidized Direct Stafford Loan, the federal government will pay the interest on your loan while you attend school on at least a half-time (6 credit) basis, during the six-month post-school grace period, or when you qualify for an authorized deferment. Unsubsidized: If you received an unsubsidized Direct Stafford Loan, you are responsible for paying the interest while you are in school. If you want to pay this interest while you are in school, you may indicate that when you complete your promissory note online. If you cannot make the interest payments, the interest can be added to your principal balance through a process called capitalization. Federal Direct Stafford Loan Limits Annual Loan Limits Dependent Students Subsidized Unsubsidized Total Freshman $3,500 $2,000 $5,500 Sophomore $4,500 $2,000 $6,500 Junior/Senior $5,500 $2,000 $7,500 Independent Students Subsidized Unsubsidized Total Freshman $3,500 $6,000 $9,500 Sophomore $4,500 $6,000 $10,500 Junior/Senior $5,500 $7,000 $12,500 For more information on the Direct Stafford Loan program please read the Federal Student Aid Student Guide, visit or Federal Direct Parent PLUS Loan program If you are dependent on your parents, they may qualify for a Direct Federal PLUS loan. Please see page 14 for more information on the PLUS loan program. Subject to changes by Congress after publication of this handbook. 8 Financial Aid Undergraduate Guide

9 Financial Aid for Undergraduate Students The HPU Financial Aid Web site Take the time to go through the HPU Financial Aid Web site. There are links to the Free Application for Federal Student Aid (FAFSA), the Direct Loan Web site to apply for your Stafford Loan or the federal parent PLUS loan, Tuition Management Services (TMS), and more. There are special pages for prospective students, new students, online students, graduate students, military program students, and continuing students. There is information about the federal financial aid programs and what you need to do to receive and to keep your financial aid. The Web site will tell you what grade point average you need to keep in order to retain your financial aid and how to apply for financial aid in future years. Keep an eye on our Web site to make sure you have the most current financial aid information possible. The HPU Pipeline The HPU Pipeline is the one spot where you can see everything about your own specific financial aid. It is an excellent resource as real-time information is available to you at any time of the day or night. Keep an eye on Pipeline to make sure your financial aid and student account are in order. You can see if you have any required documents, you can see and accept your financial aid award, check on your eligibility, and more. Remember to check your financial aid on HPU Pipeline to make sure you have no required documents outstanding, that your account is up-to-date, and that you are still eligible for financial aid each semester. Hawai i Pacific University 9

10 TERMS AND CONDITIONS FOR FINANCIAL AID Financial Aid You must apply for financial aid each academic year (after January 1). The academic year runs from July 1, 2010 to June 30, All awards are estimated and depend on eligibility and availability of funds. Information received after your aid is awarded can affect the amount of your financial aid award. Financial Aid Eligibility/Enrollment Hours To be eligible for financial aid (including federal loans) you must be enrolled for at least 6 credit hours (half-time). The Federal Pell Grant and other federal campusbased grants will be paid based on the number of credit hours enrolled. Hours enrolled are determined at the beginning of each semester/term. Over-awards If you receive federal aid (Title IV aid) that exceeds your budget (cost of attendance), federal regulations may require you to repay funds (refer to the HPU Web site at or the HPU Pipeline for more information about your cost of attendance). Resources Scholarships, grants, benefits, or other contributions you have received or will receive directly from the awarding source, e.g., agencies, social or fraternal clubs, civic organizations, vocational rehabilitation programs, ROTC, foundations, businesses, unions, or other groups, are all resources that must be reported to the Financial Aid Office. Sometimes resources are awarded late, after students have already received their Financial Aid Award, however, they must still be reported. Late notification will necessitate changing your award statement and may result in a reduction of your aid. Master Promissory Note (MPN) Instructions All new applicants must complete the MPN, at You must complete online entrance counseling and the online MPN with an electronic signature in order to have your loans processed. Also, make sure you submit all your required documents to the Financial Aid Office. You can check your financial aid status and the status of all your required documents on HPU Pipeline. Required documents are posted on our financial aid Web site and on HPU Pipeline. Students who have not received a loan disbursement within the last 12 months are required to complete a new MPN. Simply review your Financial Aid Award on HPU Pipeline and accept or decline the loans awarded. Financial Aid Funds Financial aid funds are not disbursed until after the start of the semester. Early applicants (those who apply by March 1) should have their accounts paid and remaining funds disbursed to them by the end of the second week of school. Late applicants will be processed as completed and may not have their accounts paid and funds disbursed until several weeks into the semester/term. You must come prepared to meet your financial obligations (to pay account balances and to cover your book and other living expenses) during the first several weeks of school, as all funds may not be ready for disbursement at the start of the semester/term. Plus Loan Instructions The PLUS Loan Application and Promissory Note is completed by the parents of undergraduate students applying for the loan. It is our policy to routinely award the PLUS Loan to dependent students to allow their parents to cover all unmet budget expenses. After reviewing the online Estimated Financial Aid Award and determining the Net Family Share, parents should decide if borrowing PLUS Loan funds is necessary and how much should be borrowed. Other alternatives, such as the monthly payment plan offered by Tuition Management Systems (TMS) should be also considered. Parents use the HPU Web site at to select and complete the PLUS Loan application online. Creditworthiness The PLUS Loan is a creditworthy loan and requires approval before we can process the loan. If we know that you have not been preapproved by your lender, the Financial Aid Office 10 Financial Aid Undergraduate Guide will change the student s Estimated Financial Aid Award, cancel the PLUS Loan and award the student a smaller, Unsubsidized Stafford (student) Loan (usually $4,000.00). Then, the family will have to decide how unmet budget costs will be met or changed. Loan Transmission Your loan will not be processed until you have accepted your loan on HPU Pipeline and enrolled in courses for the semester/term you are seeking financial aid. For first-time borrowers, you must complete your online loan entrance counseling and Master Promissory Note. The online process takes about 30 minutes. You must complete your online MPN and/or your online parent s PLUS Loan Application and Promissory Note before your loans can be processed. Loan Counseling Before funds can be disbursed, all first-time students at Hawai i Pacific University must complete a one-time online Student Loan Entrance Interview on our Web site at After you complete the entrance loan counseling you will be directed into the online loan application. Change of Address All financial aid correspondence is mailed to the address on record in the Registrar s Office (home or local address). We frequently notify students of important financial aid information by or over the phone. Be sure to advise the Registrar s Office of any changes in your address, phone or , e.g., when you change from your home to local address (or your summer or winter address). You may make changes to your address via HPU Pipeline. Federal Work-Study (FWS) These funds are not used to pay fixed expenses like tuition or on-campus housing expenses that must be paid at the start of the semester, since they are earned throughout the semester. The FWS program is designed to allow students to work and earn funds to pay nonfixed expenses such as apartment rent, food, transportation, and other personal expenses that may vary from month to month. Remember! Do not count these funds when determining how much aid you have to pay for upfront expenses such as tuition and on-campus housing. Also, a FWS award does not guarantee a FWS job. Financial Aid Award/Refunds Your financial aid award will be used first to pay your tuition and residence hall charges (if you are living on campus). After these payments are made, any funds remaining will be refunded directly to you by check for use in paying your off-campus housing (if you are living off campus) and other living expenses. Financial aid refunds are not disbursed until after the start of school. For those who complete all of their aid requirements early, refunds are usually made in the first two weeks of the semester. If you are late completing your financial aid award requirements, payment of your tuition will be held in abeyance pending completion of your award. If you plan to live off campus, you should have funds sufficient to pay for your housing deposit, first month s rent, and enough living expense funds to sustain you until your financial aid refund is paid. Financial Aid for On-Campus Housing (Residence Halls) Your financial aid will not pay for the reservation deposit ($500) required by the Housing Office. Financial aid, however, can be used to hold your place on the early reservation list if you have submitted all of the documentation listed in your Estimated Financial Aid Award Notification and Offer and have been cleared by the Housing Office. If your award is still incomplete because of failure to submit documentation, you will be dropped from the reservation list. This requirement includes failure to be preapproved for a PLUS Loan (see the HPU Federal PLUS Loan Information on page 14). June 1st is the priority deadline for completion of your aid package for the confirmation of your status on the on-campus housing list. November 1st is the deadline for spring. If your aid is insufficient to cover both your tuition and on-campus housing costs, you are responsible for paying the balance

11 due by the deadline established by the Housing Office. Payment of Financial Aid for Off-Campus Housing You may use any financial aid you have that exceeds your tuition to pay your off-campus housing charges. Even though you plan to use financial aid to pay for your off-campus housing and other living expenses, you must be prepared to pay these expenses from your own funds if you have delays in completing your financial aid. Every student who is living off campus should come to school with enough money to cover first-month expenses. If you plan to use financial aid to pay for off-campus housing, it is important for you to make sure that you have completed all of your financial aid forms and information at least 60 days before the beginning of the semester. You may check on your financial aid on HPU Pipeline or call the Financial Aid Office at (808) Satisfactory Academic Progress (SAP) Keep your grades up in order to qualify for financial aid each semester. Undergraduate students must maintain a 2.0 grade point average on 67% of the classes for which they register. Graduate students must maintain a 3.0 grade point average on 67% of the classes for which they register. Some exceptions may apply; please see the financial aid Web site at or call the Financial Aid Office at Reapply for Financial Aid Every School Year Financial aid is not automatically renewed from school year to school year. Remember to reapply before March 1, 2011 for the school year. HPU Pipeline After you are accepted to the University, you will receive a login name and a password that can be used to access your financial aid status on HPU Pipeline any time you wish. You can review your financial aid requirements, missing documents, accept your award, and view your student account. Financial Aid Web site Policies, procedures, documents, hints, and guidelines are all listed on the financial aid Web site. Please visit our site at for plenty of helpful information. STUDENT RIGHTS AND RESPONSIBILITIES RIGHTS You have the right to know what financial aid programs are available at your school. You have the right to know the deadlines for submitting applications for each of the programs available. You have the right to know how financial aid will be distributed, how decisions on distribution are made, and the basis for these decisions. You have the right to know how financial need was determined. This includes how costs for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc., are considered in your budget. You have the right to know how much of your financial need has been met, as determined by the financial aid administrator at the school or university. You have the right to know what resources (such as parental contribution, other financial aid, your assets, etc.) were considered in the calculation of your need. You have the right to know your school s refund policy. You have the right to know what portion of the financial aid you received must be repaid, and what portion is grant aid. If the aid is a loan, you have the right to know what the interest rate is, the total amount that must be repaid, the payback procedures, the length of time you have to repay the loan, and when the repayment is to begin. If you cannot meet the repayment schedule under the Federal Stafford Loan program you may request that the loan payments be reduced for a specific period of time if this action will assist you in avoiding default. You have the right to know how the school determines whether you are making satisfactory progress, and what happens if you are not. RESPONSIBILITIES You must complete all application forms accurately and submit them on time to the right place. You must provide correct information. In most instances misreporting information on financial aid applications is a violation of law and may be considered a criminal offense. You must complete all additional documentation, verification, correction, and/or new information requested by either the Financial Aid Office or the agency to which you submitted your application. You are responsible for reading and understanding all forms that you are asked to sign and for keeping copies of them. You must accept responsibility for all agreements that you sign. You must perform the work that is agreed upon in accepting a Federal Work-Study Award. You must be aware of your school s refund procedures and the consequences of withdrawing from classes. All schools must provide information to prospective students about the school s programs and performance. You should consider this information carefully before deciding to attend a particular school. NOTE: All information contained in a student s financial aid application and file is treated in complete confidence by the Financial Aid Office. Access to this information is governed by the terms of the Federal Education Right to Privacy Act (FERPA) and the Gramm- Leach-Bliley Act (GLB). Hawai i Pacific University 11

12 DISBURSEMENT OF FINANCIAL AID FUNDS Estimated financial aid award notification and offer letters are normally sent to students in advance of registration. For those students meeting the March 1 priority application deadline, award letters are sent in April to provide students with ample time to determine their college expenses. After a student has received and accepted the financial aid award notification on HPU Pipeline, completed the online Master Promissory Note, and all necessary paperwork, the student will be allowed to register using financial aid to cover the registration deposit. If the award is less than the cost of tuition, on-campus housing (if living in the residence halls) and fees, the student must pay the difference (student share) by the second day of school. If the student s financial aid award is greater than the amount of tuition and fees, a refund will be mailed to the student 7 10 days after the financial aid payment is applied to the student s account. If there are financial aid funds (including federal student loans) which have been awarded but are not yet available for payment at the time of registration, a student will be permitted to register for classes by signing an installment agreement for the amount which will be covered by the pending financial aid. This agreement is the acknowledgment on the part of the student that University charges are the student s responsibility and that, if for some reason, the projected aid funds do not become available, or if the student withdraws before they are processed, the student is responsible for payment. Financial aid funds are credited to the student s account in the Business Office as they are received. Funds are credited directly to the student s account. The financial aid disbursement will be paid during the first week of the term for those students who completed all of their financial aid paperwork on time. Student s who filed after the priority deadline of March 1, and/or did not complete their financial aid paperwork at least six weeks before the start of school should expect their financial aid funds to pay later in the semester. Since financial aid funds cannot be refunded until a student has registered and is in attendance, it is essential that each student arrive on campus with sufficient funds to cover miscellaneous living expenses and start-up costs for the semester. Tuition Refund Policy Since the University must plan its financial commitments for the year based on its annual enrollment, all fees are nonrefundable. No refund will be made to a student who is dismissed or suspended. Schedule of Tuition Refunds 100% Prior to the Start of the Term 50% First Week 25% Second through Fourth Week 0% After Fourth Week Title IV Financial Aid Refund Policy All students attending the University on financial aid who withdraw completely from all classes are covered by one uniform federal refund schedule. If a student completely withdraws from school, he or she will be required to return the unused portion of all federal financial aid funds granted for that semester/term. The unused portion to be returned is based on the number of calendar days completed in the period of enrollment (excluding scheduled breaks of five or more days). For example, if a student has attended 30 percent of the semester, 70 percent of the funds must be returned. Once a student has attended 60 percent of the semester/term, he or she is considered to have earned the full amount of financial aid and is not required to return the funds. Students receiving federal financial aid who are considering a withdrawal are required to go to the University s Financial Aid Office and complete an exit interview with a counselor. Dropping classes Notice of drop or withdrawal from a course(s) must be made in writing and approved by an academic counselor before proceeding to the Financial Aid Office. Remember, if you drop classes after the term starts it can have a detrimental effect on your eligibility for financial aid. It may also mean that you will have to return financial aid awards you received for the term in question. Students who withdraw completely, or drop to less than 6 credits before their financial aid awards are finalized, may lose those awards. DEBT MANAGEMENT AND CONTROLLING COSTS Educational loans have become a fact of life for students pursing higher education in the United States. Used properly, a student loan can help make a college education possible as well as help to establish or enhance a positive credit history after graduation. Although student loans are generally easier to obtain than conventional loans, they do carry the same responsibility for repayment. Penalties for nonpayment are severe and can include litigation and collection action through the Internal Revenue Service. The best way to avoid default on a student loan is to have a thorough understanding of your responsibilities and to stay in touch with your lender. You should inform yourself of the repayment obligations of your loan and other financing alternatives. You should call or write to your lender to ensure that they are aware of your circumstances and that you are aware of their expectations. You should consider the following points in managing your debt and reducing your costs: Borrow only the amount you feel necessary to finance your education. A student loan is not a grant. Loans are borrowed money that must be repaid. The more you borrow, the higher your monthly payment will be and you will pay over a longer period (up to the maximum time period). Go to to see how much your loan payments will be once you have finished school. Go to for more information on the Federal Stafford Loan program. Consider alternatives to borrowing. You may consider additional work during the summer or Co-op education, help from family, scholarships and loans, and other outside sources of funds. Read and keep copies of all of your loan documents. You should have a file with copies of your application, promissory note, disclosure statement, Statement of Rights and Responsibilities, deferments, and correspondence with your school and lender(s). Plan your budget around your repayment. Minimum payments on a student loan can range from $50 to $400 per month, depending on the total amount borrowed. You should avoid burdening yourself with additional debt upon graduation, which would make meeting these payments more difficult. 12 Financial Aid Undergraduate Guide

13 Keep your lenders informed (in writing) of any changes in your circumstances including school of attendance, enrollment status, and current address. You must also inform your lender in writing if you are eligible for a deferment. If you fail to advise your lender(s) that you are eligible for a deferment, you may cause your loan to enter default. Know the long-term consequences of default. These penalties include negative remarks on your credit rating, loss of future student aid, assignment to collection agencies, litigation, and withholding of federal and state tax returns, etc. It may also be useful to investigate ways of cutting costs to reduce the amount you must borrow. There are several areas in your student expense budget which are open to cost-cutting measures. Some creative thinking in these areas can reduce your debt burden upon graduation. Experienced counselors are available in the University s Financial Aid Office to discuss these options. The Federal Student Assistance (FSA) Ombudsman s Office is a resource for borrowers to use when other approaches to resolving student loan problems have failed. Borrowers should first attempt to resolve complaints by contacting the school, company, agency, or office directly involved. If the borrower has made a reasonable effort to resolve the problem through normal processes and has not been successful, he or she should contact the FSA ombudsman at at their toll-free number, , or , by fax at Tuition Management Services Hawai i Pacific University offers an interest-free monthly payment option through Tuition Management Services (TMS). For more information or to set up a payment plan, contact TMS by phone, or online at SATISFACTORY ACADEMIC PROGRESS Financial aid recipients must be making Satisfactory Academic Progress (SAP) toward a degree objective in order to be eligible to receive financial aid at Hawai i Pacific University. The SAP policy at the University is based on standards established by federal regulations governing student financial aid. These standards are cumulative and include all periods of a student s enrollment, including periods in which the student did not receive financial aid. Students are considered to be meeting the SAP standards of Hawai i Pacific University if the following requirements (standards) are met: Qualitative Standard Grade Point Average (GPA) Requirement. Undergraduate students must maintain a minimum GPA as follows below. Graduate students must maintain a GPA of Freshman (12-30 credit hours) 1.60 (Minimum GPA) Sophomore (31-60 credit hours) 1.80 (Minimum GPA) Junior/Senior (61 + credit hours) 2.00 (Minimum GPA) Graduate Students (6 + credit hours) 3.00 (Minimum GPA) In order to demonstrate progress toward completion of his/or her program of study, a student s overall total number of earned (completed) credit hours must be equal to or greater than 67% of the overall total number of his/or her attempted credit hours. A student meets the Completion Rate Requirement if: Overall Earned Credit Hours >=67% of Overall Attempted Credit Hours. Example: Student s Overall Earned Credit Hours = 60 Student s Overall Attempted Credit Hours = 75 Calculation: 75 x.67 = 50 (minimum number of Overall Earned Credit the student must have). General Information Student progress is reviewed every semester/term. HPU credit hours are included in determining attempted credit hours earned. All periods of the student s enrollment are counted. Even periods in which the student did not receive student financial aid funds. Withdrawals, grades of Incomplete, courses that are repeated, and noncredit courses (Pass/Fail) are included in determining a student s Satisfactory Academic Progress status. Students who have completed all the coursework for their degree or certificate but have not yet received the degree or certificate cannot receive further student financial aid for that program. Probationary Status Students failing to meet the GPA or 67% Completion Rate Requirements, as outlined herein, will be placed on financial aid probation for one semester. While on financial aid probation, the student is still eligible to receive student financial aid. Students failing to meet the GPA or Completion Rate Requirements by the end of their probationary period automatically become ineligible to receive financial aid. Ineligible Status Students with an ineligible status are not eligible to receive student financial aid at Hawai i Pacific University. A student s eligibility for financial aid will be reinstated once they again meet the GPA and 67% Completion Rate Requirements and an appeal is submitted and approved. Students on financial aid participating in an HPU Student Exchange program, will have their SAP reviewed once during the year due to delayed grades from foreign institutions. If students do not make SAP under the annual review they will not be given probation, but will automatically be suspended from further financial aid. Note: Students who fail to complete any of their attempted credit hours during any one semester, term, or session automatically become ineligible to receive financial aid. Appeal Process An ineligible status can be appealed if the student has had mitigating circumstances such as serious illness or severe injury, or the death of an immediate family member or relative. Students must complete the FA Appeal Request form with supporting documentation, e.g., a death certificate, letter from a doctor on doctor s letterhead, etc. Note: A probationary status cannot be appealed. Payment after Reinstatement A student may be paid Pell Grant and campus-based funds, state funds, and/or student loan funds for the payment period in which the student is again meeting Satisfactory Academic Progress stan- Hawai i Pacific University 13

14 dards, but cannot be paid for any payment period during which time the student was in an ineligible status. Policy Concerning Change in Students Enrollment Status and Rate of Progress In accordance with Title IV policy, Hawai i Pacific University does not recalculate student aid awards after students are awarded and in attendance for a semester or term. Students who add/drop classes subsequent to the start of a semester or term, regardless of grade forgiveness (no grade or W), are evaluated for rate of progress on the basis of credit hours attempted (credit hours taken at the start of a semester/term for which the student is in attendance and paid), and those earned (credit hours posted in the student s academic transcript at the end of a semester/term). Upon written request, students can have their award revised to reflect changes in enrolled credits through the last day to add courses for a term. Rate of Progress Example Jodie registers for a full-time course load (12 credit hours) in the fall semester, and the Financial Aid Office calculates her aid award based on full-time enrollment. Jodie s account is credited by the Business Office 10 days prior to the start of the semester and she receives her refund check during the first week of school. After the semester starts, Jodie drops two of the classes (6 credit hours or partial withdrawal) she attended at the start of the semester. Under Title IV policy, the Financial Aid Office does not recalculate Jodie s award based on the lower half-time enrollment status. Consequently, Jodie s rate of progress is measured on the basis of attempted credit hours (12) and those she completed (received a grade or W). If her cumulative rate-of-progress remains below the 67% requirement after two semesters/terms, she will be suspended from the financial aid program, and will not be eligible to receive aid for at least one semester/term. In this example, since Jodie attended the two classes before dropping, she will be subject to the University s tuition refund policy for the 15-week semester (50%, if withdrawn during the 1st week of the semester; 25% if withdrawn 2nd through the 4th week; thereafter, no refund). OBTAINING ADDITIONAL INFORMATION AND ASSISTANCE Please refer to our Web site at for further information. Students and their families can go directly to the FAFSA and many other important links, download any required forms, and learn all about HPU financial aid and payment options on our Web site. Accepted students can use our campus intranet, the HPU pipeline, to access and monitor all their personal financial aid information and awards. If you have any further questions about the Financial Aid program at Hawai i Pacific University please do not hesitate to contact the Financial Aid Office at the following address: Financial Aid Office Hawai i Pacific University 1164 Bishop Street, Suite 201 Honolulu, Hawai i Telephone: (808) or Toll free: CALL-HPU FAX: (808) Hawai i Pacific University is accredited by the Accrediting Commission for Senior Colleges of the Western Association of Schools and Colleges, the National League for Nursing and is a member of the American Assembly of Collegiate Schools of Business. The main campus is located in the heart of downtown Honolulu, the capital of the state of Hawai i. The Hawai i Loa campus is on the windward side of the island of O ahu and offers students an idyllic campus setting with rolling hills and lush greenery. At the crossroads of the Pacific, HPU has an international flavor, and is close to major business, financial, governmental, and cultural institutions. Legislation and governmental regulation are continually changing the administration of financial aid. Every effort had been made to ensure that the information in this guide book was correct at the time of publication. The information presented, however, is subject to change without notice HAWAI I PACIFIC UNIVERSITY FEDERAL PLUS LOAN INFORMATION The Hawai i Pacific University Office of Financial Aid is committed to assisting you with funding your child s education. The Federal Parent Loan for Undergraduate Students (PLUS Loan) enables parents with good credit histories to borrow funds in order to pay the education expenses for the student who is a dependent undergraduate and enrolled at least half-time. Although we do not encourage unnecessary borrowing, we want to make you aware of this option to assist with your financing. PLUS Loan repayment begins immediately. The interest rate is fixed, but it will not exceed 9 percent under present law. The interest rate for is 7.9%. Interest is charged on the loan from the date the first disbursement is made until the loan is paid in full. Certain hardships may entitle borrowers to defer repayment. Contact your lender for details. THE FOLLOWING STEPS ARE REQUIRED IN ORDER TO HAVE YOUR PLUS LOAN PROCESSED: 1. Student must respond to their Estimated Financial Aid Award Notification on HPU Pipeline. 2. Any additional documentation requested on the Estimated Financial Aid Award Notification or on HPU Pipeline unsatisfied requirements, must be submitted to the Hawai i Pacific University Financial Aid Office. 3. Parents must complete and sign the Direct PLUS Loan Application and Promissory Note online at The system will direct you through the process, it takes about 30 minutes. 4. We may be able to award a smaller loan amount to your son or daughter if you are not approved for the Direct PLUS Loan, but we need to know early in the process. If you are denied on the basis of credit for a Direct PLUS Loan, please contact the Financial Aid Office to discuss your options. 14 Financial Aid Undergraduate Guide

15 Hawai i Pacific University AUTHORIZATION TO RELEASE EXCESS PLUS LOAN FUNDS (PARENT LOAN) FOR FALL 2010 AND SPRING 2011 TO STUDENTS I,, authorize Hawai i Pacific University to release the (PARENT S NAME) excess funds from the Plus Loan (Parent Loan) to. (STUDENT S NAME) Student s HPU ID Parent s Signature: Date: Send this form to: Hawai i Pacific University Business Office 50 South Beretania Street, Suite 117 Honolulu, Hawai i Or Fax To: (808) If you find a need to make changes to this authorization, please contact the Business Office at Hawai i Pacific University 15

16 Hawai i Pacific University Hawai i Pacific University Financial Aid Office Scholarships and Resources Please let us know what scholarships or resources you might have toward your tuition and expenses. Resources include HPU or outside scholarships, tuition waivers, tuition payments from an employer or the student s parent s employer, an agency such as the U.S. government or vocation rehabilitation programs. Please contact the Financial Aid Office if you should have any Student s name Student s HPU I.D. # Name of Scholarship Anticipated amount for fall 2010 Anticipated amount for spring 2011 Name of Scholarship Anticipated amount for fall 2010 Anticipated amount for spring 2011 Note: Please see the Terms and Conditions on page 10. Scholarships and outside resources not reported before a student s award is calculated, may affect the student s financial aid package. 16 Financial Aid Undergraduate Guide

17 Hawai i Pacific University Registrar s Office 1164 Bishop Street, Suite 216 Honolulu, HI phone: (808) fax: (808) STUDENT CONSENT TO RELEASE EDUCATION RECORDS Financial Aid for Undergraduate Students Directions SECTION A. Student Name (last, first, middle initial) Social Security number Student ID Number (last four digits only) Or date of birth ( ) Current mailing address (street or P.O. box number, apartment number, city, state, and ZIP Code) Daytime phone number SECTION B. Third party designee ( ) Name (last, first, middle initial) Social Security number Daytime phone number (last four digits only) Or date of birth Address (street or P.O. box number, apartment number, city, state, and ZIP Code) Relation to student address Please initial one or more of the lines below to grant authorization to different types of information: Business Office: Billing statements, charges, credits, payments, loan disbursements, past due amounts, collection activity, communication history Registrar s Office: Grades/GPA, demographic, registration, student ID number, academic progress status, enrollment information, access to academic records Financial Aid Office: FAFSA application data, financial aid disbursements, eligibility, financial aid Satisfactory Academic Progress status Other (be very specific) SECTION C. Certification I authorize the above third party, named in Section B, to access the above indicated student record and/or account information. This authorization does not permit the third party to make any changes. Student s signature Date Revocation of Consent - Not valid until received by the University Registrar. I hereby revoke the consent granted above: Student s signature Date Registrar s Office Use: Initial Form: SOAHOLD ; SPACMNT ; By ; Date Audited By ; Date: Revocation: SOAHOLD ; SPACMNT ; sent to Office(s): By ; Date Audited By ; Date: Hawai i Pacific University 17

18 Hawai i Pacific University 18 Financial Aid Undergraduate Guide

19 Financial Aid for Undergraduate Students Other Contact Information: Academic Advising: Admissions: Business Office: , 5273 Housing: Registrar: FAFSA processing center phone: Title IV FAFSA school code: IRS# to call in order to get a copy of taxes: NOTES Hawai i Pacific University 19

20 Hawai i Pacific University Hawai i Pacific University Financial Aid Office 1164 Bishop Street, Suite 201 Honolulu, Hawai i Toll free