HPU Financial Aid Terms & Conditions
The Office of Student Financial Planning develops each individual student’s financial aid offer annually based on the individual aid program’s eligibility requirements. These students and the aid offered to them from institutional, federal, state, and outside sources are monitored throughout the aid year and are adjusted as necessary based on requirements and funding of aid offered.
General Terms
Non-need-based aid such as merit scholarships, athletic awards, and departmental scholarships are the first component in the development of a student’s financial aid offer. Provided the University has received a valid Free Application for Federal Student Aid (FAFSA) for the appropriate award year, students will be evaluated for federal and state aid as well as institutional need-based eligibility. Students with demonstrated financial need as determined by the FAFSA will then be awarded any eligible federal, state, and/or institutional need-based aid. Eligible FAFSA filers will have Federal Loans added according to the maximum amount allowed based on the student’s grade level.
- The Financial Aid Offer with the most recent date supersedes any previous offer.
- Federal and state aid is contingent upon fund appropriations and receipt by the University, and subject to change during the academic year.
- Student’s total financial aid offer cannot exceed the total cost of attendance. Students cost of attendance consists of total costs assessed to the student by the university as well as indirect cost associated with living and learning during their time of enrollment.
- All accepted financial aid offered with requirements met will show as pending on student’s account activity except federal work study. After classes have started each term, HPU will disburse aid for which funding has been received. Any aid program without funding or which has additional requirements may no longer be displayed on the student’s account and may result in a balance owed.
- Unlike other aid programs, Federal work study funds do not directly go to student’s University account. Students earn the funding from on-campus student employment jobs and are paid bi-weekly based on actual hours worked.
Requirements
High Point University assumes all students will be enrolled full time (12 credit hours for undergraduate students and 6 credit hours for graduate students) at the time of packaging for financial aid. This status is used in determining students cost of attendance budget which is made up of both direct and indirect costs and total aid eligibility. Students who enroll less than full time will have their cost of attendance budgets adjusted and will likely be eligible for less aid than previously offered to them in their initial aid offer. Students enrolled less than half-time will be ineligible to receive federal direct student loans.
- Changes in financial, marital, or academic status; changes of academic program; change of residence (housing tier or on campus to off campus); or failure to comply with program guidelines and regulations could result in a revision to or cancellation of financial fid offered.
- Students receiving High Point University institutional aid must be enrolled full-time (12 credits per semester for undergraduates). Audit courses do not count toward full time hours.
- Students who have accepted their annual federal direct student loan(s) must be enrolled at least half-time (6 hours per semester for undergraduates and 3 credit hours for graduate students) and have completed the necessary Loan Entrance Counseling and Master Promissory Note. Audit courses do not count toward full time hours.
- Financial Aid recipients must be making Satisfactory Academic Progress (SAP) and be in good academic standing with the university at the end of each academic year. Students who change their enrollment status (full time to part time) or withdraw from the university may not meet the standards of the SAP Policy and could forfeit future financial aid. For more information on the SAP Policy or before dropping a class, please check with the Student Financial Planning Office. Further information can be found under the SAP tab of our undergrad financial planning policies or graduate financial planning policies
- The federal government mandates that students who withdraw from all classes may only keep the financial aid they have “earned” up to the time of withdrawal. Title IV funds that were disbursed in excess of the earned amount must be returned by the University and/or the student to the federal government. This situation could result in the student owing aid funds to the University, government, or both. For additional information about return of funds please refer to the Withdrawal tab of financial planning policies.
Conditions
By accepting aid posted to their account or by actively accepting their student loans, students accept these terms and conditions and all other university policies set forth in the University Bulletins, Student Guide to Campus Life, website and all other notices provided by High Point University.
- Aid programs are offered for a full academic year but are distributed equally on a semester basis. Students who attend less than a full academic year cannot receive the full year’s aid in one semester.
- The total of gift aid (does not require repayment) from all sources may not exceed the total of direct educational costs charged by the University.
- Eligibility for High Point University’s need-based aid is determined for each year and is not automatically renewed. Actual amount offered varies from year to year based on available funds; awarding policies for that year; and student eligibility from the results of filing the annual Free Application for Federal Student Aid (FAFSA).
- Institutional need-based aid will be reduced if any additional gift aid is awarded.
- Undergraduate students are eligible for institutional merit and need-based aid for a maximum of eight semesters. The number of semesters of eligibility is pro-rated for transfer students based on their class standing upon entering the institution.
- Periodically throughout the year, High Point University may evaluate a student’s eligibility for named endowed scholarships which are awarded as recognition for your abilities and achievements based on the donor’s instructions. These scholarships have been provided to assist the University in staying within annual budget limitations in providing financial assistance to students. As a result, these endowed scholarships may replace current High Point University funds already in your financial aid offer and thus will not change your total funding amount. In support of the University and to honor the donors who graciously give to HPU, students who are selected for these scholarships will be asked to write a letter of appreciation to the specific donor.
- Federal direct student loans for undergraduate students are awarded based on your current class standing at the time of awarding.
Responsibilities
- Students must renew their Free Application for Federal Student Aid (FAFSA) annually to receive federal aid, state aid, and institutional need-based aid.
- Federal direct student loans offered must be accepted each year. Students must complete the necessary loan entrance counseling and master promissory note online to receive loan funds. Students need to contact their Student Financial Planning Counselor if they believe that they may qualify for an increased loan amount.
- State funding is pending upon verification of a student’s residency and minimum level of enrollment. Residency is determined by the State of North Carolina. Students must complete the Residency Determination online within 45 days of the start of the term at cfnc.org/residencyInfo/home. If these requirements are not met, then State funding cannot be awarded.
- Students are required to notify Student Financial Planning of other financial assistance to be used to meet the cost of education at High Point University that is not listed on the most recent financial aid offer. The receipt of other assistance may result in an adjustment to your financial aid offer according to federal and state regulations as well as institutional policies.