Financial Aid Policies

Statement of Financial Eligibility:
To receive financial aid at Nichols College, a matriculated student must complete all financial aid 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 aid 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 aid, with the exception of Pell Grants for needy students.

Satisfactory Academic Progress:
For purposes of financial aid, satisfactory academic progress is defined in both qualitative and quantitative measurements. Students will be reviewed annually at the end of the spring semester to determine if satisfactory academic standards have been met.

Qualitative Measures of Satisfactory Academic Progress:
All unergraduate 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 Credit-Hours Earned (whichever is higher)	Cumulative GPA
1-31	1.5
32-45	1.75
46 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. Undergraduate full-time day students must successfully complete 21 credits per academic year. Part-time day, undergraduate evening and graduate students must successfully complete 66.6% of all credit hours attempted at Nichols College per academic year. Academic progress will be reviewed annually following the spring semester.

Deficient Credits and Deficient Grade Point Averages:
Any student deficient in credits and/or GPA at the end of the spring semester may enroll in summer classes, without financial aid, to make up the deficiency. Summer classes are offered through the Office of Graduate and Professional Studies at the Dudley campus, at a variety of satellite locations and on-line. Students taking classes at another college must receive Nichols College Registrar approval in advance. If successfully completed and accepted by the Registrar, transfer credits will increase the student's credit total. However, transfer credits will not affect the grade point average at Nichols.

Notification of Loss of Financial Assistance:
The Office of Financial Aid will send written notice to any financial aid 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 Aid Office. It is the responsibility of the student to inform the Financial Aid Office of the correct address at all times.

Appeals Process:
Any student who has been terminated from financial aid has the opportunity to appeal such action to the Financial Aid 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 aid 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 Financial Aid Office. Appeals may be mailed or faxed to (508) 213-2118. Late appeals will not be accepted.

Reinstatement of Lost Financial Aid:
Once a student regains satisfactory academic standing, or prevails upon appeal, his/her financial aid shall be reinstated, where continued eligibility and funding permits. For purposes of receiving financial aid, 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 aid, such as achievement scholarships, have a grade point average requirement for reinstatement. The College cannot guarantee that a student's aid package will be reinstated to match the previous amount awarded.