Federal law (Higher Education Act of 1965, as amended) mandates that institutions of higher education establish minimum standards of satisfactory academic progress for students receiving any federal financial aid. Eligibility for Saint Vincent College institutional grants and scholarships will follow the regulations for federal aid. In addition, the Pennsylvania State Grant program and programs from other states also have their own established academic progress standards.
Students must meet these standards of academic progress to continue to receive funds from each source.
The academic records of all students will be reviewed annually after each spring semester to calculate the percentage of attempted credits the student has successfully completed and to determine the cumulative grade point average the student has earned. Any student not meeting the standards set by this policy will be ineligible for aid until the deficiencies have been made up. An appeal process is available to students who have experienced personal illness or accident, death of an immediate family member, or other extraordinary circumstances.
Note: The FAFSA must be filed yearly to determine eligibility for federal and state aid.
Federal Student Aid
Pell, SEOG, Direct Loans, PLUS Loans, Federal Work Study
Cumulative GPA Requirement:
1.50 cumulative GPA for freshman completing the first year.
2.00 cumulative GPA for all other students
Credits Earned Requirement Maximum Time Frame
All students must have earned at least 67% of the cumulative number of credits attempted, including all credits attempted at Saint Vincent and all credits transferred in from other institutions that count toward the degree.
Total credits attempted cannot exceed 150% of the credits required of the published length of the program. All courses with a grade designated as G,IP,W & WF and repeated course are considered attempted.
Pennsylvania State Grant
PHEAA - PA Higher Education Assistance AgencyCumulative GPA Requirement
Credits Earned Requirement Maximum Time Frame
Full-time students must complete a total of 24 credits over the 2 semesters of full-time study within an academic year. Part-time students must complete 12 credits over the 2 semesters of part-time study within an academic year.
PHEAA grants are awarded for a maximum of 8 full-time semesters.
Personal financial literacy is more than just being able to balance a checkbook, compare prices or get a job. It also includes skills like long-term vision and planning for the future, and the discipline to use those skills every day.
The Higher Education Opportunity Act (sections 1041 and 1042) requires that the Secretary of the Treasury in consultation with the Secretary of Education and other agencies enhance financial literacy among postsecondary students through developing initiatives, programs and curricula that improve student awareness of short- and long-term costs associated with student loans and other debts and assisting students in navigating the financial aid process.
The following information is available to help educate our students and families and assist them in making informed decisions to reach their financial goals.
General Financial Literacy Resources
Saint Vincent College is committed to providing students and their families with the best information and processing alternatives available regarding student borrowing. In support of this and in an effort to rule out any perceived or actual conflict of interest between Saint Vincent College officers, employees or agents and education loan lenders, Saint Vincent College has adopted the following:
The federal government mandates that students who withdraw from all classes may only keep the federal financial aid (i.e., Title IV funds) they have "earned" up to the time of withdrawal. Title IV funds that have been disbursed in excess of the earned amount must be returned by the college and/or the student to the federal government. Thus, the student could owe aid funds to the college, the federal government, or both.
The Financial Aid Office is notified when a student has officially withdrawn from the college. The calculation for Return of Title IV funds is based upon the date on which a student initiates the withdrawal process by indicating intent to withdraw.
To determine the amount of aid the student has earned up to the time of withdrawal, the Financial Aid Office divides the number of calendar days the student has attended classes by the total number of calendar days in the semester (minus any scheduled breaks of 5 days or more). The resulting percentage is then multiplied by the total federal funds that were disbursed to the student account for the semester.
This calculation determines the amount of aid earned by the student that he or she may keep. For example, if the student attended 25% of the term, the student will have earned 25% of the aid. The unearned amount (total aid disbursed minus the earned amount) must be returned to the Department of Education by the college and/or the student. The Financial Aid Office will notify and provide instructions to students who are required to return funds to the Department of Education.
If you are considering withdrawing from classes, remember to contact the Financial Aid office before you do so. Meeting with a financial aid officer will help you understand how withdrawing will affect your situation.
Funds are returned to the following Title IV source in this order:
Unsubsidized Federal Direct Loans
Subsidized Federal Direct Loans
Federal Direct Graduate PLUS loans
Federal Direct PLUS (parent) loans
Federal Pell Grants