Financial Assistance Policies

Statement of Financial Eligibility:

To receive financial assistance at Nichols College, a matriculated student must complete all financial assistance application requirements, enroll at least half time; and maintain satisfactory academic progress.

Enrollment Status:

A student's enrollment status may affect the type and amount of financial assistance for which he or she qualifies. The chart below shows the credits needed per semester for each status:

Enrollment Status Undergraduate students Graduate students
Full-time 12 or more credits 9 or more credits
Three Quarter time 9 to 11 credits not applicable
Half-time 6 to 8 credits 6 to 8 credits
< Half time 1 to 5 credits 1 to 5 credits

Students attending less than half time in any semester are ineligible for most forms of financial assistance, with the exception of Pell Grants for needy students.

Satisfactory Academic Progress:

Recipients of federal financial assistance, including most loan programs, must make satisfactory academic progress toward their degree. Both your attempted credit hours (quantitative) and your cumulative grade-point-average (qualitative) factor into satisfactory academic progress. Students will be reviewed for progress at the end of the spring semester.

Qualitative Measures of Satisfactory Academic Progress:

All undergraduate students must meet the grade point average and all other academic requirements as outlined below. Graduate students must maintain a 3.0 grade point average to maintain satisfactory academic progress.

Credit-Hours Attempted Cumulative GPA
1-30 1.5
31-56 1.75
57 or more 2.0

Quantitative Measures of Satisfactory Academic Progress:

In addition to qualitative standards as outlined above, students must progress through their program in a timely manner (not to exceed 150% of the published length of the academic program and/or 180 attempted credits). Undergraduate full-time day, part-time day, undergraduate evening and graduate students must successfully complete 70% of all credit hours attempted at Nichols College. Academic progress will be reviewed annually following the spring semester.

Financial Assistance Suspension:

When you have been placed on Financial Assistance Suspension, the Office of Financial Assistance may grant a semester of Financial Assistance Probation (reinstatement of aid eligibility) if there are documented circumstances that have affected your ability to maintain good academic standing. If a term of Financial Assistance Probation is granted, you must meet the conditions of that probation as stated in the prescriptive plan. Failure to agree to or to meet those conditions will result in the loss of your financial assistance eligibility.

Students who have exceeded 150% of the required degree credits are not eligible for a probationary period.

Notification of Loss of Financial Assistance:

The Office of Financial Assistance will send written notice to any financial assistance recipient who does not meet minimum satisfactory progress standards that they will be terminated from aid for the subsequent term(s). The notice will be addressed to the student's most current local address on file with the Financial Assistance Office. It is the responsibility of the student to inform the Financial Assistance Office of the correct address at all times.

Appeals Process:

Any student who has been terminated from financial assistance has the opportunity to appeal such action to the Financial Assistance Appeals Committee. The suspension may be appealed on the basis of an undue hardship, such as the death of a relative or an injury to or illness of the student, as the cause of deficient academic performance. Documentation of the circumstances should accompany the appeal, i.e., doctors notes, etc. If such an appeal is successful, some or all of the financial assistance will be reinstated based on committee recommendation and funding availability at the time of appeal. All appeals must be in written form, and directed to the Director of Financial Assistance. Appeals may be mailed or faxed to (508) 213-2118. Late appeals will not be accepted.

Reinstatement of Lost Financial Assistance:

Once a student regains satisfactory academic standing, or prevails upon appeal, his/her financial assistance shall be reinstated, where continued eligibility and funding permits. For purposes of receiving financial assistance, good academic standing is defined as meeting both qualitative and quantitative measures of academic progress as outlined above. Once a student's aid is lost, it may be reallocated to other students and is not reserved for any student pending appeal decisions. If reinstatement of aid is warranted, the College will reinstate a student's aid with any remaining resources for which the student is eligible. Be advised that some sources of financial assistance, such as achievement scholarships, have a grade point average requirement for reinstatement (CGPA 2.0). The College cannot guarantee that a student's aid package will be reinstated to match the previous amount awarded.

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Contact Information

Office of Financial Assistance - 508-213-2378