Policies and Procedures
Students must reapply for financial aid annually to be considered for all need-based funding. Need-based aid is not automatically renewed. Students must adhere to deadlines set forth by the office.
If a student’s FAFSA is selected for federal verification, we will request additional documentation. Requests for additional documentation will be made via email. For prospective students we will use the email address provided to the Office of Admission. For deposited and returning students we will use the assigned Ursinus email address. All financial aid remains an estimate until verification is complete or conflicting information on the FAFSA is resolved if applicable. Returning students must submit all required paperwork by April 1 each year. Incoming first-year and transfer students must submit all required paperwork prior to July 1 each year. Failure to meet these deadlines may result in delays in fund disbursements to the student’s account.
If any conflicting information is discovered on a student’s FAFSA, the Office of Student Financial Services will collect the appropriate documentation from the student and make the appropriate corrections in accordance with Department of Education regulations. In some cases, a student must make corrections to the FAFSA. In these cases, the Office of Student Financial Services will notify the student by email and instruct them to make the appropriate corrections to the FAFSA.
Financial Aid Award Letter
A student’s financial aid award letter requires no response for the awards to be accepted. Students who wish to decline a particular award should contact the Office of Student Financial Services in writing. Once a student has paid their enrollment deposit, they will have access to their financial aid award letter online through the self-service portal.
Disbursement of Awards
Federal, state, and institutional funds will be disbursed to students’ accounts at the beginning of each semester provided their financial aid file is complete. Outside scholarship, grant, and private alternative loan funds will be disbursed to students’ accounts once payment is received by Ursinus.
Federal Work Study/Campus Employment
Funds are paid to the student through payroll bi-weekly as earned. Expected earnings may not be deducted from semester bills, but they may be used for other educational and personal expenses or saved toward the next semester’s bill. Employment on campus is not guaranteed. Students seek their own employment through the employment website or visiting individual departments directly.
Revisions to Financial Aid Awards
In cases where a student’s FAFSA information changes resulting in a change in financial aid eligibility, the student will be notified of any changes to their account. Incoming first-year and transfer students will be notified of changes in awards in writing in the form of a revised award letter prior to the first day of classes their first semester. Currently enrolled and returning students will be notified of changes in awards electronically in the form of an award letter posted to the self-service portal.
Federal Direct Student and Parent PLUS Loans
Federal Direct Student Loans are subject to a 1.057% origination fee at the time they are disbursed to a student’s account. Federal Direct Parent PLUS Loans are subject to a 4.228% origination fee at the time they are disbursed to a student’s account.
Private Alternative Loans
These funds are added to a student’s account at the time the Office of Student Financial Services is provided with notification of the student’s eligibility.
Full aid awards will apply when the student enrolls full-time (at least 12 credits per semester) at Ursinus College. Awards will be adjusted for less than full-time enrollment. No Ursinus dollars will be awarded to students enrolled less than full-time.
Changes in Residency Status
Changes in residency status from the original residency status a student’s aid was determined, may result in changes to a student’s financial aid eligibility. Need-based financial aid eligibility, including but not limited to UC Fund, Federal Direct Subsidized Loan, and Federal Work Study eligibility, are subject to change with changes to a student’s budget as a result of residency. Students who wish to change residency must submit a Residency Change Request Form. Once submitted, Student Affairs will review and notify the student of the decision. If approved, the Office of Student Financial Services will evaluate the student’s new financial aid eligibility and provide the student with written confirmation of their new financial aid eligibility. The student must respond to their written confirmation in order to confirm their change in residency with the new financial aid. The full policy can be viewed here.
Changes in Financial Circumstances
Students and prospective students have the option to appeal for additional funding based on extenuating circumstances that are not considered through their FAFSA submission. These extenuating circumstances include, but are not limited to: death of a parent, separation or divorce of parents, loss of or change in a parent’s job, and unusual or unexpected expenses. Please review our Financial Aid Appeal Policy for more information.
Outside Scholarship Awards*
All students receiving scholarship assistance from outside agencies must submit a copy of the award notice from the organization to the Office of Student Financial Services. Outside awards will be used to meet any unmet need in the financial aid package. Once need has been fully met, adjustments may be made to the self-help portion (work-study and loans) of the package based on federal and state regulations. Ursinus College institutional awards will be reduced only if the total of all scholarships and grants exceed total cost of attendance.
Outside Tuition Grants*
All students receiving grant assistance from other institutions must notify the Office of Student Financial Services. Tuition grants received from other institutions for tuition will be used to meet any unmet need in the financial aid package. However, if a need based grant is awarded by Ursinus before we are informed of the outside tuition grant award eligibility, the need based aid from Ursinus may be subject to change. Ursinus will allow our academic scholarship awards to be used for charges associated with tuition as well as room and board.
Students must reapply for need-based aid each academic year by April 1. Renewal is subject to source regulations, satisfactory academic progress, and availability of funds. Renewal application deadlines must be followed and late paperwork may result in a reduction of aid.
Standards of Satisfactory Academic Progress
Full-time students must meet the Satisfactory Academic Progress (SAP) policy standards to be considered for continued financial aid. View the full policy on our website.
With the impact of COVID-19 and the shift to remote learning, an addendum to the SAP policy has been created to define how Satisfactory/Unsatisfactory grades will be counted for evaluation. The addendum can be viewed here.
*Student aid that exceeds qualified education expenses (as defined by the Internal Revenue Service) is taxable and may affect a student’s income tax liability. It is the student’s responsibility to consult a tax advisor to determine the impact of financial aid in excess of qualified education expenses on his or her own situation.