Student Financial Services 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.
A student's enrollment status may affect the type and amount of financial aid for which he/she qualifies. The chart below shows the credits needed per semester to qualify for financial aid:
|Enrollment Status||Undergraduate students||Graduate students|
|Full-time||12 or more credits||6 or more credits|
|Three Quarter time||9 to 11 credits||not applicable|
|Half-time||6 to 8 credits||4 to 5 credits|
|< Half time||1 to 5 credits||1 to 3 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 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 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|
|57 or more||2.0|
- Courses graded W (Withdrawn), I (Incomplete), P (Pass), and F (Failure) are counted as credits attempted but not successfully completed.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 credits attempted.
- Transfer credits are neutral for GPA and are counted as credits attempted/completed.
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 students, part-time day, undergraduate evening and graduate students must successfully complete two thirds of all credit hours attempted at Nichols College. Academic progress will be reviewed annually following the spring semester.
Maximum Time Frame:
The timeframe 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.
Remember, there could be situations where he/she is in good academic standing but fail to meet the academic standard for financial aid eligibility. In other words, it is possible for a student is maintain adequate academic standing for continued enrollment at the college but lose financial aid eligibility.
When a student is 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, you 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 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
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 the student's most current address on file. It is the responsibility of the student to inform Student Financial Services of the correct address at all times.
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 Assistance
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.