Financial Aid Eligibility
To be eligible for Adult and Extended Learning (AEL) financial aid, you must meet all of the following eligibility requirements set by the Department of Education:
- Have financial need (need-based aid only)
- Be a United States citizen or an eligible non-citizen
- Have a high school diploma or GED
- Have a valid Social Security Number (SSN)
- Make Satisfactory Academic Progress (SAP)
- Register with the Selective Service, if required
- Sign a FAFSA statement certifying that federal and/or state monies will be used for education purposes only
- Be enrolled at least half-time as a regular student
- Be admitted to an eligible program
- Meet the university's admissions requirements
You are not eligible for financial aid if you meet any of the following criteria:
- Are in default on a federal student loan
- Have inadvertently obtained federal student loan funds in excess of annual or aggregate loan limits
- Have an unresolved overpayment from Title IV funds
AEL STUDENT ENROLLMENT STATUS
The amount of credit hours for which you enroll is a determining factor in calculating the amount of financial aid you can receive. For example, you must be enrolled full time to receive state grants; be enrolled for at least six credit hours for student loans; and be enrolled for at least three credit hours for Pell grants. Financial aid is prorated for less-than-full-time enrollment.
Following is the university's policy on enrollment hours:
| Enrollment Status | Hours |
|---|---|
| Full Time, Undergraduate | 12 credit hours per semester |
| Full Time, Graduate | 9 credit hours per semester |
| Three-Quarters Time | 9 credit hours per semester |
| Half-Time | 6 credit hours per semester |
FINANCIAL AID SATISFACTORY ACADEMIC PROGRESS (SAP)
Academic Standards required for Financial Aid Recipients:
Students who receive federal or state financial assistance (including student and/or parent loans) are required to make satisfactory progress toward the completion of their degree. Satisfactory progress is measured by the number of credits successfully completed (academic progress) each year and students' cumulative grade point average after each semester. In addition, students are limited to 125 percent of the published timeframe for their degree. This policy sets the minimum standards for evaluating satisfactory academic progress for federal and state financial assistance. State Grant programs are an exception to the 125 percent rule, their programs are limited to 8 semesters.
Academic Progress—Academic progress for financial assistance is based on the number of credit hours completed each academic year. Students must complete 80% of the hours they attempt per academic year. Students have the summer semester to make up the progress required. If a student has extenuating circumstances, a letter of appeal should be addressed to the Financial Aid Office.
Cumulative Grade Point Average—Financial Aid recipients are required to maintain the minimum grade point average as they progress toward the achievement of their degree. The Cumulative GP is based on the University’s academic standards found in the University’s Catalog. The Registrar’s Office determines the GPA at the end of each semester. Students who fall below “Good Academic Standing” are placed on Academic Probation. A student is allowed one semester to bring their GPA back up to the required GPA. If the student is placed on Academic Probation a second semester consecutively the students loses their financial aid until the GPA requirement is met.
Incomplete Classes - A grade of I indicates incomplete and is given when a student's work in a course is not finished because of circumstances beyond her or his control. An I grade does not count in the computation of grade point average. The grade must be removed by the close of the following semester. Incomplete courses which are not satisfactorily completed by the deadline become Fs on the transcript.
FINANCIAL AID OFFICE CONTACT INFORMATION
The Financial Aid Office is located in room 207 of the James W. Murray Center. Office hours are 8:00 a.m. to 4:30 p.m. Monday through Friday.
Mailing address:
Oakland City University
Attn: Direct Loan Processing
138 North Lucretia Street
Oakland City, IN 47660-1038
Toll-Free Phone: (800) 737-5125
Phone: (812) 749-1436
Phone: (812) 749-1224
Fax: (812) 749-1438
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