To be eligible to receive Title IV federal funds, Pell Grants, SEOG, Federal College Work Study, Federal Perkins Loans, Federal Stafford Loans or state and institutional aid, a student must maintain satisfactory progress in his/her course study.
A student at Montreat College will, assuming all other eligibility requirements for payment of federal state and institutional aid are met, be eligible to receive federal, state and institutional aid for a maximum of one and one-half the number of hours required for completion of the degree or diploma program.
A student will be considered to be making satisfactory progress for purposes of receiving federal, state and institutional aid if the academic degree requirements of the institution are met as set forth in the College Catalog (see Academic Section).
A student who does not meet the requirements at the end of a semester will lose all eligibility for federal, state and institutional funding for the following semester. There is no grace period. The student will be re-evaluated at the end of the following semester, and, if he/she meets the minimum requirements, the student will receive funding for the upcoming semester.
If a student is declared ineligible and is waiting on a grade change, the deadline is 4:00 p.m. on the third day of class for that semester. If the Financial Aid Office does not have verification of a grade by that deadline, the student will not receive funding for that semester.
If a student drops below full-time status during the semester, all aid will be deleted with the exception of the Pell Grant and loans when applicable.