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Financial Aid

Financial Aid is available to eligible undergraduate and graduate students enrolled in day, evening, accelerated, or online programs. Students must be accepted for admission and be attending at least half-time for most forms of Financial Aid. For timely Financial Aid information, please visit the Student Financial Services homepage at www.nichols.edu.

State and federal financial aid may be available to qualified UGA students who enroll in a minimum of six credits per semester, which can be taken in either or both seven-week sessions.

The Financial Aid Application Process

The first step in determining eligibility for Financial Aid is to complete the Free Application for Federal Student Aid, better known as the FAFSA. Students may apply on line at www.fafsa.gov. Before completing the FAFSA online, students must obtain an FSA ID at www.fsaid.ed.gov. Parents of dependent students must also obtain an FSA ID. After a student sends the FAFSA, the College will receive an electronic aid file called an Institutional Student Information Record (ISIR). It takes approximately one to three weeks after FAFSA submission for the College to receive the ISIR. The College will use the ISIR to prepare students’ Financial Aid awards.

The Financial Aid Award

Before an award can be made, the Office of Financial Assistance must receive the student’s FAFSA data. The Office of Financial Assistance staff will verify the student’s enrollment and matriculation status. Awards are based upon the number of credits a student registers for during each semester. Once the student’s enrollment status is determined, the staff will generate an award letter, which lists the types and amounts of Financial Aid the student can expect to receive for the year. Students should register for all classes prior to the semester start. Students must re-apply for Financial Aid annually.

UGA students must request financial aid by completing a Financial Aid Application. This form can be found on WebAdvisor and must be submitted to Student Financial Services, PO Box 5000, Dudley, MA 01571, sfs@nichols.edu, or faxed to 508-213-2118.

Application Deadlines

Nichols priority deadline for submitting the FAFSA each year is March 1st for the following Fall semester. All requested documents must be received by June 1st. Meeting these deadlines helps ensure consideration for limited sources of State, Federal, and Institutional Aid programs. Be aware that most states, including Massachusetts, have a priority deadline of May 1st for state scholarship eligibility. Late applicants are usually ineligible for state funds. Those who fail to meet the priority deadline may still apply any time during the award year. The Office of Financial Assistance will accept applications until such time it is deemed too late to process and disburse the aid to the student for the period of enrollment. Late applicants are responsible for any and all tuition and fees, including late payment fees, if student Financial Aid is incomplete at the time of registration. Late applicants may receive substantially fewer funds than on-time applicants.

Other Requirements

Students must submit all necessary paperwork by June 1st: signed award letter, verification documents, and any other requested items. Late applicants must submit all documents within 10 days of the date requested. Timely submission of documents helps to expedite the processing of awards. Failure to submit required documents could result in the cancellation of some, or all, of a student’s Financial Aid award. If an extension is needed, please contact the Office of Financial Assistance.

Students receiving outside assistance must notify the College. At no time may total assistance, including loans and scholarships made from outside agencies, exceed the student’s cost of attendance. The College cannot guarantee funding to any student, regardless of eligibility. Nichols College Financial Aid is awarded on the assumption that a student will successfully complete all credits attempted. In the event of withdrawal, dismissal, or failure to maintain satisfactory academic progress, aid may be withdrawn or adjusted according to applicable federal, state, and college policies. The College does not discriminate in the awarding of Financial Aid on the basis of race, color, religion, age, sex, handicap, veteran status, national or ethnic origin.

Nichols College-Funded Student
Aid Programs

All Nichols-funded Financial Aid programs are subject to change without prior notice based upon changes in a student’s Expected Family Contribution (EFC), enrollment status, resident/commuter status and other factors such as funding limitations. The EFC is determined by the federal FAFSA form. Though Nichols College will make every effort to give the best Financial Aid package possible, late applicants may receive less Financial Aid. To maximize eligibility for all forms of Financial Aid, be sure to complete the FAFSA by the March 1st deadline annually. Nichols-funded Financial Aid programs are available to full-time day students only and may not exceed the cost of tuition. Students receiving Council of Independent Colleges (CIC), Tuition Exchange (TE), or other full-tuition grants or scholarships are not eligible to receive additional College grant assistance. Students must maintain satisfactory academic progress to remain eligible for college-funded grants and scholarships.

Nichols Access Grant  This need-based grant is awarded to day students who are not legal residents of Massachusetts. This grant helps to supplement the limited out-of-state scholarship dollars needy students receive. Since funds are limited, the Access Grant is awarded on a first-come, first-served basis.

Nichols Achievement Scholarships  Achievement scholarships are awarded to full-time day incoming students based on their high school or prior college achievement, SAT scores, cumulative grade point average and other factors. These grants are renewable each year as long as the student maintains satisfactory academic progress, maintains a grade point average of 2.0 or higher, and continues to be enrolled full-time in the day division. Achievement scholarships vary in amount depending upon the year in which a student enrolls and whether the student is a resident or commuter. Commuter students receive a reduced achievement scholarship due to lower overall costs. Achievement scholarships are disbursed in equal parts, Fall and Spring semesters. Students who first matriculate in the Spring semester will receive half of the annual achievement scholarship. The following scholarships are achievement based:

•      Nichols Honors Scholarship

•      President’s Achievement Scholarship

•      Trustees’ Achievement Scholarship

•      Dean’s Achievement Scholarship

•      Faculty Achievement Scholarship

•      Alumni Scholarship

•      Founders Grant

•      Nichols Connect Grant

At the end of Spring semester, each recipient’s academic progress will be assessed to determine his or her eligibility for renewal. Eligible students may potentially receive achievement scholarships for up to eight semesters of continual enrollment. Students who withdraw and subsequently return to Nichols forfeit eligibility for their prior achievement scholarship.

Nichols Early Acceptance Grant  A limited number of $1,000 grants are awarded by Admissions for early acceptance to the College. This grant is not renewable and non-need based.

Nichols Honors Scholar Grant  A limited number of highly qualified students newly admitted will be invited by Admissions to participate in the Nichols College Honors Scholar Program. Current students may be invited to join and become eligible for the scholarship after completing one academic year at Nichols with a CGPA of 3.6 or above. Effective Fall 2016, all students must maintain a 3.4 CGPA (grandfathered students must maintain a 3.2 CGPA) and stay enrolled in the program for renewal of this $1,000 non-need based grant.

Nichols Transfer Grant  Students filling out the FAFSA may also qualify for an additional transfer grant up to $4,000, depending on need. Students must have completed at least 12 credit hours of college work to qualify for the transfer grant. This grant is renewable annually as long as the student remains enrolled full-time in the day division, maintains a 2.0 CGPA, and continues to have financial need.

Nichols Travel Grant  There are a limited number of $1,000 grants for students attending from select states. Students must reside on campus and be enrolled full-time in the day division. These grants are renewable and non-need based.

Nichols Family Tuition Grant  The Nichols Family Tuition Grant is awarded when two siblings from the same household attend Nichols College full-time in the day division simultaneously. This $1,000 annual scholarship is disbursed to qualified students in equal parts, Fall and Spring semesters. The scholarship is renewable annually as long as both students remain enrolled full-time in the day division and both remain in good academic standing. Should one student withdraw or drop below full-time, both students will lose the Family Tuition Grant. When one sibling graduates, the remaining student may qualify for the Nichols Legacy scholarship. Nichols Family Tuition Grant eligibility is self-reported by students and applies only to years in which the Office of Financial Assistance has been notified prior to the start of classes within a given academic year.

Nichols Legacy Scholarship  The Nichols Legacy Scholarship is awarded to full-time day students whose parent, sibling or grandparent received his or her undergraduate or graduate degree from Nichols College. This $1,000 scholarship is awarded annually in equal parts, Fall and Spring semesters, to students who meet all eligibility requirements and meet the college’s satisfactory academic progress standards. Nichols Legacy Scholarship eligibility is self-reported by the student and applies only to years in which the Office of Financial Assistance has been notified prior to the start of classes within a given academic year.

Nichols Other Grant Programs  The following grants are not based on academic achievement. They are designed to assist in meeting some of a student’s unmet financial need.

•      Nichols Opportunity Grant

•      Dr. Quincy Merrill Leadership Grant

•      Hezekiah Conant Leadership Grant

•      Women in Enterprise Grant

•      Nichols Success Grant

Restricted and Endowed Scholarships

Restricted and endowed scholarships are subject to change. Award amounts are based on the availability of funds and interest earned on funds.

Wayne Archambo ‘81 Endowed Scholarship  This scholarship is awarded to a returning student who demonstrates financial need, resides in Central Massachusetts, and maintains a GPA of 3.0 or greater. The scholarship is renewable for subsequent years provided the recipient remains in good standing and continues to meet preference criteria.

Randy ’83 MBA ’96 and Donna ’83 Becker Scholarship  This scholarship is awarded to a first-year student who seeks a degree at Nichols College and demonstrates financial need. Preference is given to students from Webster. If there are no eligible candidates from Webster, it may be awarded to a student from Dudley or Charlton. The scholarship is renewable each of four consecutive years if the student maintains a grade point average of 3.0 or better.

John F. Birch Jr. ’73 Memorial Scholarship  The John F. Birch Jr. Memorial Scholarship was created by the parents and estate of the late John F. Birch, ‘73. The scholarship is awarded to a student specializing in Accounting and entering the senior year with proven academic excellence and financial need. Selection is determined by a committee made up of members of the Accounting program.

Oliver W. Birckhead ‘42 Endowed Scholarship  Established by Trustee Jane Birckhead in memory of her husband, this scholarship is awarded to a student who maintains a 2.5 GPA, shows leadership qualities, and maintains an overall balance of academics, co-curricular activities and campus community involvement.

Don Chalmers ’59 Memorial Scholarship  Don Chalmers ’59 Memorial Scholarship is awarded to a student who demonstrates financial need, academic achievement and community involvement. The scholarship is renewable based on the maintenance of a 3.0 GPA and active participation in a Nichols College community activity, sport or club.

Hal Chalmers/Elks Scholarship  This scholarship is awarded by committee to a student from Dudley, Webster, or Oxford. Eligibility is based on financial need.

Class of ’54 Scholarship  This scholarship was created by the Class of 1954. The recipient must live on the Nichols College campus. Scholarship selection is based on current Nichols College GPA, demonstrated financial need, and commitment to Nichols College. The scholarship is awarded by the Office of Financial Assistance.

Class of ’57 Endowed Scholarship  This scholarship was created by the Class of 1957. It is awarded to a current sophomore entering the junior year who has shown steady improvement in GPA and an increasing commitment to the Nichols College community through student and local activities. Selection is made by the Office of Financial Assistance based on the recommendations of the VP for Enrollment.

Class of ’63 Endowed Scholarship  The Class of ’63 Endowed Scholarship is intended to reward and encourage the continued growth and potential of a student who demonstrates financial need and plans to graduate from Nichols College. The scholarship is awarded to a rising sophomore or a rising junior who has demonstrated financial need and who maintains a GPA of 3.0 or better. Preference is given to students who are active in the Nichols College community, which shall include positive civic activities in the Greater Dudley/Webster/Southbridge area. Special consideration is given to students who have been honorably discharged from any of the five United States Military Armed Services.

Class of ‘64 Endowed Scholarship  This scholarship is awarded to a rising sophomore, junior or senior who has demonstrated financial need and who maintains a GPA of 2.75 or better. Preference is given to students who are involved in co-curricular activities on the Nichols College campus or in the local community unless they are working full or part-time to support their college education.

Class of ‘65 Endowed Scholarship  This scholarship is awarded to a rising sophomore or a rising junior who has demonstrated financial need. Special consideration will be given to students who have been honorably discharged from any of the five United States Military Armed Services.

Class of ’67 Endowed Scholarship  The Class of ’67 Endowed Scholarship is awarded to a returning sophomore who successfully completes the first year, demonstrates financial need, and plans to graduate from Nichols College. In making the final selection, the Office of Financial Assistance seeks recommendations from faculty advisors and from the VP for Enrollment. Award of the scholarship is based on the level of assistance needed by the student and on the strength of the recommendations.

Col. James L. Conrad Memorial Scholarship  This scholarship is named for Col. James L. Conrad, who served as president of Nichols College from 1931 to 1966. The recipient is to be a resident of northern Worcester County (Leominster north to the New Hampshire line). The scholarship, renewable for up to three years, is based on academic performance, extracurricular activities, and leadership potential. Financial need is a requirement to receive consideration.

Professor Keith Corkum Endowed Scholarship in Economics  The purpose of this scholarship is to recognize excellence in the study of economics at Nichols College. Selection is based on academic achievement and service to the Nichols community. The recipient must be a rising junior or senior who majors/specializes/ minors in Economics.

Peter B. Dixon Scholarship  This scholarship is awarded to a worthy student or students at Nichols College who have financial need, with preference given to a student from Christian Brothers Academy of Lincroft, N.J., at the discretion of the Office of Financial Assistance.

James Dunbar Scholarship in Criminal Justice  Named for former trustee, James L. Dunbar ’51, this scholarship is based on academic achievement and service to the Nichols community. The recipient must be a rising junior or senior who specializes in Criminal Justice Management.

Faucher Family Endowed Scholarship  Scholarship selection is based on financial need. The recipient must be a permanent resident of Thompson, Connecticut, and attend Nichols as a commuter or a resident student.

Fels Commuter Scholarship for Webster and Dudley Residents  Gerald Fels ‘66 and his wife, Marilyn Fels, generously offer a $5,000 scholarship to Dudley and Webster residents who commute to Nichols College. The Fels Scholarship is renewable with a maximum value of $20,000. To be considered, students must be accepted to the College and file a FAFSA application for Financial Aid.

Joan Fels Endowed Scholarships  Several scholarships are donated by Marilyn and Gerald Fels in memory of his mother, Mrs. Joan Fels. The scholarship supports several graduating high school seniors from Bartlett, Shepherd Hill, or other area high schools. The student must be a permanent resident of Webster or Dudley. The student must attend full time in the day division, demonstrate financial need, and commute in the first year. The scholarship is renewable yearly for an additional three years, provided the student maintains a 2.5 GPA and continues to demonstrate financial need.

Fischer Scholarship  This scholarship is awarded to a student involved in The Washington Center (TWC) internship program. The recipient must be a junior with a 3.0 or higher GPA, be of outstanding moral character, and be recommended by two Nichols College professors.

George F. and Sybil H. Fuller Foundation Scholarship  This scholarship is awarded on the basis of financial need. The amount and number of scholarships offered is based on donations to the fund annually. Recipients are chosen by the Office of Financial Assistance.

Russell E. Fuller Endowed Scholarship  This scholarship is awarded to Hispanic/Latino students from Central Massachusetts. Recipients are chosen by the Office of Financial Assistance based on financial need. Applications for the scholarship are available in the Office of Financial Assistance.

James C. Gahan IV Endowed Scholarship  This scholarship is in memory of Nichols student James C. Gahan IV. The recipient must be a rising junior or senior with at least 60 hours of coursework completed. The student must concentrate in General Business or major in Communication. The selection will be determined by committee and will be based on academic achievement and service to the Nichols College community.

The Gould Generational Scholarship  This scholarship was created by a member of the Gould family to honor three generations of the Gould family who attended Nichols College. The scholarship will be awarded by the Office of Financial Assistance to a qualified student or students with demonstrated financial need.

Thomas J. Hall ‘69 Endowed Scholarship  This scholarship is awarded to a returning student who resides in Connecticut. Preference is given to those who have experienced some form of personal or financial hardship. The scholarship is renewable provided the student remains in good standing.

The Hermann Foundation Scholarship  This scholarship was created by the trustees of the Hermann Foundation, Inc. to assist students who have financial need but do not qualify for federal or state assistance programs. The scholarship will be awarded by the Office of Financial Assistance.

Barry D. Hogan ’67 Endowed Scholarship  The recipient of the Barry D. Hogan ’67 Endowed Scholarship is a full-time student entering the second year at Nichols, or later. The student must be in good standing, have clear plans and a strong desire to graduate from Nichols College, and demonstrate financial need. Preference is given to those who have experienced some form of personal or financial hardship. The scholarship is renewable, provided the student remains in good standing.

Edwin L. Hubbard Faculty Scholarship  This scholarship was created by and in honor of Professor Emeritus Edwin Hubbard. Annually, at the Spring semester Academic Honor Society’s induction ceremony, the faculty awards the Hubbard Faculty Scholarship to a deserving student who is an outstanding scholar in the sophomore class.

Professor John Katori/Class of 1955 Scholarship  This scholarship was created by the Class of 1955 in honor of their graduating class and their classmate, John Katori. Scholarship selection is open for all returning students entering their junior year, with a preference for students specializing in Accounting.

Robert B. Kuppenheimer Scholarship  This scholarship, named for Trustee Robert B. Kuppenheimer ’69, will support up to eight worthy students who reside west of the Mississippi River and who receive solid recommendations from their guidance counselors.

David F. Lombard ‘65 Endowed Scholarship  This scholarship is awarded to a student returning for his/her second year at Nichols College who demonstrates financial need. The scholarship will be renewable for subsequent years provided the recipient remains in good standing.

Massachusetts Association of Public Accountants  This scholarship is given to a student of high academic achievement who specializes in Accounting. Selection is made by the Accounting program chairperson. The recipient is honored at the Spring awards banquet.

McClutchy Family Scholarship  Preference will be given to a student from Kolbe Cathedral High School. The McClutchy Family Scholarship may be awarded at the discretion of the Director of Financial Assistance to any student who has financial need or who is experiencing financial hardship.

Philip Pettinelli ’71 Endowed Scholarship  This scholarship, named for the retired president of Southbridge Savings Bank, is awarded to a new or returning student who is a resident of Southbridge, Massachusetts, and/or a graduate of Southbridge High School. The scholarship is renewable for each successive year the student is enrolled at Nichols College, provided he/she remains in good standing.

Claire and Shelly Power Endowed Scholarship  This scholarship, created by Trustee Martin Power ‘78 in honor of his mother and wife, is given to a female student who has graduated from Southbridge High School and has been accepted for enrollment at Nichols College. Selection will be based on financial need and academic performance. The scholarship will be renewable for up to three years provided the recipient maintains at least a 2.5 GPA at Nichols. Based on available funds, this scholarship may be awarded to an incoming student each year.

President’s Scholarship  The President’s Scholarship is awarded to a female returning student (sophomore, junior or senior) who maintains a GPA of 3.0 or greater and who demonstrates leadership engagement in the Nichols community.

R. Joseph Salois ‘98 Endowed Scholarship  The recipient of this scholarship must be an adult or non-traditional student who is seeking an undergraduate degree and demonstrates financial need. Preference is given to those who are from Central Massachusetts. The scholarship is renewable provided the student remains in good standing and maintains a half-time status.

John R. Suleski Jr. Memorial Scholarship  This scholarship is awarded to a high school senior from either Tourtellotte High School or Woodstock Academy. If funding allows, the award may be renewed yearly for up to three years, providing that the recipient makes satisfactory progress toward graduation and maintains a C average (2.0). If at any time the holder of the scholarship falls below a 2.0 average, a new, incoming first-year student shall be selected to receive the John R. Suleski Jr. Memorial Scholarship.

President Debra Townsley Endowed Scholarship  This scholarship is awarded to a returning female sophomore with financial need and academic promise. Scholarship recipients are selected by committee based on leadership potential, commitment to the College, and the desire to complete a bachelor’s degree at Nichols College. The scholarship is renewable for the recipient’s junior and senior years, contingent upon academic progress and community involvement.

Daniel Van Leuvan Memorial Scholarship for Education  This annual award from the Daniel Van Leuvan Memorial Scholarship Fund is used to help a second-semester junior with a minor in Education. This award is based on financial need, academic achievement, and overall contribution to the Nichols community.

Robert J. Vaudreuil ‘77 Endowed Scholarship  This scholarship is awarded to a new or returning student who demonstrates financial need. Preference is given to a first generation college student. The scholarship is renewable for subsequent years provided the recipient remains in good standing.

James D. Wagner ’59 Endowed Scholarship  This scholarship is awarded to a male student who has been professionally diagnosed and documented with dyslexia, demonstrates financial need, and has intention to complete a bachelor’s degree from Nichols College. The scholarship is renewable throughout the student’s undergraduate education at Nichols College.

Wenk Scholarship  Established by Norman Wenk ’42, this scholarship is given to a resident of Mattituck, N.Y., who attends Nichols College.

Deb and Paul Zimmerman Endowed Scholarship  This scholarship is awarded to a U.S. citizen who demonstrates financial need, i.e., eligible to receive a federal Pell Grant in the first year of college. The candidate must be enrolled full-time in a bachelor’s degree program at Nichols, as well as be involved in community activities and maintain at least a 2.5 GPA. In addition, the candidate must submit a letter of recommendation from a teacher or other professional. In the spirit of continuing the tradition of generosity, the donor asks that the recipients be willing to contribute to a scholarship fund at a later date to give future students the same opportunity. The scholarship is renewable for up to three years.

State Funded Programs

State Scholarship Programs  Many states provide scholarships to eligible residents and some states provide scholarships to students attending out-of-state schools. Requests for specific information should be directed to the state scholarship organization in the student’s home state. For Massachusetts residents, please visit www.osfa.mass.edu for more information on Massachusetts state scholarship and grant programs. Massachusetts offers state grants to eligible full- and part-time students. Application for a state scholarship is made by completing the FAFSA by established deadlines. State priority deadlines are listed on the FAFSA. Students who meet the College’s March 1st deadline will have also met all state deadlines.

Federally Funded Programs

For an up-to-date review of all federal aid programs, please visit www.studentaid.gov. Students must complete the FAFSA form in order to qualify for any federal aid. As with other campus programs, funding may be limited for certain programs, such as Federal SEOG and Federal Work-Study. Early application is advised. Students are encouraged to complete the FAFSA by March 1st each year to ensure maximum eligibility.

Federal Pell Grants  The Federal Pell Grant Program is available to students who demonstrate significant financial need. The amount of the grant varies from year to year. Application to the Pell Grant Program is made by completing the FAFSA form.

Federal Supplemental Education Opportunity Grant Program (SEOG)  The SEOG Program is a federal grant program awarded to students who demonstrate significant financial need and who are enrolled at least half-time. Priority consideration is given to Pell Grant recipients. Application for Federal SEOG is made by completing the FAFSA.

Federal Work Study Program  Federal Work-Study is awarded to full-time day students who demonstrate significant financial need. Eligible students work an average of 10 hours per week on campus. A select group of off-campus jobs are also available to work-study eligible students. Application for Federal Work-Study is made by completing the FAFSA.

Federal Stafford Loan Program  A federally sponsored loan program, the Stafford Loan Program, is administered through the College and the Department of Education. Federal Subsidized Stafford Loans are awarded based on demonstrated financial need. Applicants are required to submit a FAFSA in order to determine eligibility. Loan amounts vary depending on eligibility and year in school. Those who do not demonstrate financial need may still qualify for a Federal Unsubsidized Stafford Loan for which the student is responsible for interest. Repayment of either subsidized or unsubsidized loans begins six months after leaving school whether due to graduation or withdrawal.

The government limits Stafford Loan borrowing in the first two years of enrollment, but then increases that limit during the third and fourth years. The loan limits are as follows:

                                             Subsidized/                 Additional
Year In School                  Unsubsidized              Unsubsidized
Stafford                         Stafford
*SEE BELOW

1st year Status                  $5,500                          $4,000

2nd year Status                $6,500                          $4,000

3rd year Status                 $7,500                          $5,000

4th year Status                 $7,500                          $5,000

Graduate Students          $ –0–                              $20,500

There are two types of Federal Stafford Loans: subsidized and unsubsidized. The government pays the interest on subsidized loans while the eligible student remains in school at least half-time. The student is responsible for paying the interest on an unsubsidized loan while in school, from the first disbursement date to the end of repayment. The unsubsidized interest may be deferred by the student while in school.

* Additional unsubsidized loans are available to students whose parents are ineligible to borrow parent PLUS loans. Undergraduate dependent students whose parents are denied the Federal PLUS or undergraduate independent students may borrow $9,500 (subsidized plus unsubsidized) in their first year; $10,500 (subsidized plus unsubsidized) in their second year; $12,500 (subsidized plus unsubsidized) in their third, fourth, and fifth years.

Eligible students will sign a promissory note prior to loan ­disbursement.

Federal Parent PLUS Loan  PLUS Loans are federally sponsored loans for credit-worthy parents of undergraduate students. The loan is disbursed in two equal disbursements, usually Fall and Spring. Repayment begins immediately after the scheduled second disbursement of the loan. The student must complete a FAFSA for consideration. Parents may borrow up to the cost of attendance less other aid.

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 to qualify for financial aid:

Enrollment                        Undergraduate           Graduate
Status                                 Students                       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

Recipients of federal financial aid, including most loan programs, must make satisfactory academic progress toward their degree. Both the student’s attempted credit hours (quantitative) and cumulative grade point average (qualitative) factor into satisfactory academic progress. Students are 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                                       2.00

•      Course grades W (Withdrawn), I (Incomplete), and F (Failure) are counted as credits attempted but not successfully completed.

•      Courses dropped before the published add/drop date each term do not count as attempted.

•      Transfer credits are neutral for GPA and are counted as credits attempted and completed.

Quantitative Measures of Satisfactory Academic Progress

In addition to qualitative standards as outlined above, students must progress through their programs 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 students, part-time day students, undergraduate evening students, and graduate students must successfully complete two thirds of all credits attempted at Nichols College. Academic progress will be reviewed annually following the Spring semester.

Maximum Time Frame  The time frame of a student’s eligibility for financial aid is limited to 150% of the number of credits required to complete a degree as defined in the college catalog.

Financial Aid Suspension

•      When a student is on Financial Aid Suspension, he/she will lose all eligibility for college, federal, and state assistance, including student/parent loans.

•      Reminder: There could be situations where he/she is in good academic standing but fails to meet the academic standard for financial aid eligibility. In other words, it is possible for a student to maintain adequate academic standing for continued enrollment at the college but lose financial aid eligibility.

When a student has been placed on Financial Aid Suspension, the Financial Assistance Appeals Committee may grant a semester of Financial Aid Probation (reinstatement of aid eligibility) if there are documented circumstances that have affected the student’s ability to maintain appropriate academic standing. If a term of Financial Assistance Probation is granted, the student must meet the conditions of that probation as stated in the prescriptive plan to continue eligibility. Failure to agree to or to meet those conditions will result in the loss of 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  Written notice will be sent to any financial aid recipient who does not meet minimum satisfactory progress standards regarding their termination from aid for the subsequent term(s). The notice will be addressed to students’ most current local address on file. It is the responsibility of each student to inform Student Financial Services 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. Students appealing their suspension should complete the Satisfactory Academic Progress Appeal Form. 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. Appeals may be mailed or faxed to (508) 213-2118.

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.