Graduate Financial Aid Policies

An individualized financial aid award letter is sent to each student listing anticipated aid eligibility for the upcoming academic year. The aid will be disbursed to the student’s account following the drop/add period (one week from the start of classes each semester). Loans will only be disbursed if the student has completed the necessary online Master Promissory Note (Loan Agreement) and Loan Entrance Counseling, as well as other required paperwork (e.g. verification). Federal regulations require that all federal student aid (Title IV) must be used for educational purposes. Therefore, proceeds from all scholarships, grants, and loans are applied to the student account for tuition, fees, and education-related expenses.

Academic Guidance & Probation

Each incoming student is assigned an academic advisor who is responsible for advising throughout a student’s degree completion. A student receiving a semester grade point average below 3.0 will be placed on academic probation.  Once placed on academic probation a student must submit a letter to the Guidance and Probation Committee prior to the start of the next semester providing strategies for improvement. A student whose cumulative grade point average continues to be below a 3.0 for a second semester, will be subject to dismissal from the program.

The placement of students on probation occurs at the end of the semester grading period. If additional information is received that changes or completes the record, any change in status is made at the discretion of the Associate Academic Dean.

Satisfactory Academic Progress

According to financial aid regulations, students must make satisfactory progress toward a degree in order to remain eligible for financial aid. Satisfactory academic progress for graduate students is based on a qualitative (grade point average) and quantitative (number of credit hours completed) measure of the student’s progress.

The Student Financial Services Office (SFSO) will assess the student’s progress at the end of every semester for federal and institutional aid programs. A student must demonstrate progress by accumulating credits at a rate that indicates graduation in a timely manner.  A student who is not progressing toward graduation at the defined completion rate will not receive federal financial aid regardless of GPA.

A student must complete at least 67 percent of all cumulative attempted credit hours in order to be eligible for federal financial aid.  The cumulative attempted credit hours include all transfer credits noted on the academic transcript.  The following are examples of attempted credits, but are not considered to be successfully completed – W, I, NR and F grades.

Education: Graduate students in Education must maintain a cumulative grade point average of 3.0 throughout the program and receive grades of B- or higher.

Business: Graduate students in Business must maintain a cumulative grade point average of 3.0 or higher and receive grades of B- or higher. Both the semester and cumulative grade point averages can affect one’s standing.

Music: A graduate music student in good standing must maintain a cumulative grade point average of 3.0. Both the semester and cumulative grade point averages can affect one’s standing.

When a student transfers to Houghton from another institution, the Registrar’s Office will determine the number of credit hours acceptable toward a degree at Houghton University.

Students will be granted a warning semester for federal aid and institutional aid. During this warning semester students will receive assistance in setting academic goals to prevent them from being in danger of unsatisfactory academic progress.

Students who fail to meet the satisfactory academic progress requirements will lose eligibility for financial aid. Students may petition the Committee on Satisfactory Academic Progress to request a one-time waiver of the necessary academic requirements. Petitions will be considered based on physical injury or illness, extraordinary personal difficulty, or other special circumstances. If a student requests a waiver but is denied, he or she may reestablish eligibility for aid by successfully completing a semester with no financial aid. Please refer to the Houghton University academic catalog for further information on satisfactory academic progress.

Financial aid eligibility is restored after the student has completed the number of credit hours needed to comply with the policy and/or has attained the required cumulative grade point average.

Withdrawal Policies

A student who wishes to withdraw from a course must immediately complete the Course Withdrawal Form found on the Houghton website. This will inform the University of the student’s personal situation and intentions to take that course at a future specified date. Withdrawing from a course may negatively affect financial aid. Prior to withdrawing, the student must discuss the matter with his/her academic advisor. Failure to complete the Withdrawal Form may result in no refund for the course. Students will be charged for the classes attended.

Upon receiving official notification of withdrawal, the Student Financial Aid Office will calculate a refund using the federal Return of Title IV funds software, if the student has received Title IV aid. Any cash refunds received before withdrawing must be repaid to Houghton University. Failure to repay funds when requested would bar the student from receipt of financial aid in the future. Students will receive written notification of the adjustments to the financial aid package, which will indicate if a post-withdrawal disbursement is allowed. The Student Accounts Office should be contacted if any questions arise regarding billing.

Please note withdrawal from a specific course(s) may result in an adjustment to the financial aid package. Failure to properly withdraw from the university will result in the adjustment of financial aid after the end of the semester. Therefore, please contact us immediately upon deciding to leave the university.

Title IV Refunds

Houghton University’s refund policy is in accordance with the U.S. Department of Education’s regulations. The policy applies to all students who do not complete the enrollment period for which they have been charged.

The term “Title IV Funds” refers to the federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes unsubsidized federal direct loans.

A student’s withdrawal date is the date the student began the institution’s withdrawal process or officially notified the institution of intent to withdraw; or the student’s last date of attendance at a documented academic-related activity; or the midpoint of the period for a student who leaves without notifying the institution. Refunds on charges will be prorated using the following charts:

Students withdrawing before classes begin for a given term will receive a 100 percent refund of charges.

Title IV aid is earned in a prorated manner on a per diem basis based on the academic calendar up to the 60 percent point in the semester. Title IV aid and all other aid is viewed as 100 percent earned after that point in time. A copy of the worksheet used for the Title IV refund calculation can be requested from the Student Financial Services Office. Students who are granted a medical withdrawal will have their situation carefully reviewed and receive a refund of charges prorated on a per situation basis. The Office of Student Life must approve a medical withdrawal. Students who are granted a leave of absence are treated in the same manner as students who withdraw from the university.

In accordance with federal regulations, when financial aid is involved, refunds are allocated in the following order: unsubsidized federal direct loan, other federal sources of aid, private aid, and finally, payments made to the student’s account. The fees, procedures, and policies listed above supersede those published previously and are subject to change at any time. Please refer to the Houghton University academic catalog for further information on the Houghton University refund policy.