Please Review the Following SPAS Financial Aid Information
All SPAS students are required to review and abide by the Academic Bulletin
The SPAS Academic Bulletin may be viewed here
All SPAS students are subject to the following conditions and rules
- On the back of every SPAS award letter is a notification. see it here
- see rules governing your financial aid here
V.A. Benefits
All questions regarding VA Payments should be made to Records and Registration at registrar@montreat.edu
ACADEMIC YEAR
The SPAS program is non-term and therefore does not have semesters. Instead, students are awarded for an Academic Year.
- An Undergraduate Academic Year consist of 24 successfully completed credit hours and at least 30 weeks of instructional time
- A Graduate Academic Year consists of 18 successfully completed credit hours and at least 30 weeks of instructional time
Your academic year will have a start date and end date and a midpoint.
- The first 1/2 of your academic year is your first payment period - this will be the time from your start date and your midpoint.
- The second 1/2 of your academic year is your second payment period - this will be the time from your midpoint to your end date.
Once you successfully complete 1 academic year, you will be awarded for your next (if your financial aid paperwork is complete).
The number of academic years you have at Montreat will depend on how many credits you take while at Montreat along with the time it takes you to successfully compete the program.
SAR (Student Aid Report): Results of your FAFSA
Within two weeks following the submittance of your FAFSA, you will receive a SAR. This report will detail the information from your application and state your Expected Family Contribution (EFC), which will be the amount used to determine your federal student assistance eligibility. Montreat College will receive an electronic copy of the SAR at the same time.
Award Letter Information
Montreat College will notify you of your award by sending you an award letter. This award will be disbursed twice per academic year. It is typical that the school will first use the award monies to pay tuition and fees. The remainder of the funds should remain on the student's account to pay for additional courses. Student financial assistance will be paid directly to your student account. You should not take funds from your account for non-school-related expenses.
Please note that schedules are no longer being mailed with award letters unless specifically asked for by the student.
Book Vouchers
Please be aware that Montreat does NOT currently offer Book Vouchers. The website to order books is www.mbsdirect.net. You will need to pay with a Credit/Debit card.
Cost for Academic Year
Each student may have different costs based on their academic years and the courses within them due to the nature of the non-term program. We estimate the cost of your academic year with tuition, books, and fees to be:
- For Freshmen and Sophomores $8,635
- For Juniors and Seniors $10,215
- For Masters Students $12,325
Award Letter
You will be awarded based on received paperwork, need, and available aid. All aid combined will not exceed your cost of attendance per federal policy. Cost of attendance takes into consideration tuition, books, fees, living expenses, travel, etc in relation to your education. Most of our Independent students qualify for Stafford Loans up to:
- Freshmen - $9,500*
- Sophomore - $10,500*
- Junior and Seniors - $12,500*
- Masters - $20,500*
* loans may be less based on need and cost of attendance
You may also qualify for grants and scholarships in addition to loans. If you do, they will be listed upon your award letter. See the Aid Sources page for more information.
Attendance Policy
Attached to your award letter will be the schedule of courses covered by the financial aid award. If you change courses or cohorts or fail to attend class, you will risk changing or losing part or all of your financial aid.
Attendance is monitored for all students at Montreat College in order to determine their eligibility for Financial Aid. If a student remains absent for 29 days or more without the proper paperwork, the student must be withdrawn from the program. If a student is a Financial Aid recipient, an R2T4 will be done and federal and state funds may be returned. See the Attendance Policy here.
Leave of Absence (LOA) Policy
If you are unable to attend a course due to unforeseen circumstances (sickness, additional job responsibility, family situation, etc) you may be eligible to receive a Leave of Absence (LOA) if you are able to provide proof of the unforeseen circumstances (such as a doctor’s note). This allows your financial aid to stay in tact and you to take the course at a later date. See the LOA Policy and Application here.
Satisfactory Academic Progress (SAP) Policy
As a student, you must maintain Satisfactory Academic Progress (SAP) for each of your payment periods in order to remain eligible for Financial Aid. If you do not meet SAP, you will be put on a probationary period. If you do not meet SAP at the end of the probationary period, you will lose all Financial Aid. Financial Aid Academic Probation is different than the Registrar’s Academic Probation. See the SAP Policy here.
Unsatisfactory Grade Policy
If you fail to make a satisfactory grade in a class, your academic year will be extended, and you may have to pay some out-of-pocket expenses if you do not have enough funds left on your account. You will not be able to proceed into your next academic year until you have successfully completed at least 24 credits and 30 weeks of attendance.
Change of Schedule Policy
If you make any changes to your class schedule other than those on your highlighted schedule that comes with your financial aid award letter, your aid is subject to change or be lost. Your academic year, midpoint, loans, and grants along with distribution dates may change. It is highly suggested you stick to your original schedule as closely as possible in order to keep your aid from altering.
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