Financial Aid Policies

Financial Aid Policies 2017-07-14T06:47:51+00:00

Institutional financial aid is awarded based on the information provided from a student’s Free Application for Federal Student Aid (FAFSA) for U.S. students. For international students, Institutional financial aid assistance is based on the information provided from Elim’s International Income Verification Form. All Institutional Aid is intended to be used as a supplement to state and federal financial aid. Any Institutional Aid given to students cannot exceed their total bill minus the Reservation Deposit.

Financial aid awards are subject to adjustments or cancellations due to changes that include, but are not limited to, a student’s

  • Financial situation
  • Enrollment status; or
  • Residency status

Institutional financial aid includes work study, and scholarships. Financial Aid is awarded based on a student’s need and it is only applied to tuition, room and board.

Procedure:

Institutional Financial Aid Eligibility Requirements:

  • Be enrolled full-time (12 or more credits/units) in either a certificate or degree program.
    • If a student enrolls in less than 12 credits/units at any time their financial aid may be reduced or cancelled accordingly.
    • Classes taken for audit are not eligible for financial aid and do not count toward enrollment for purposes of financial aid.
    • Should a student choose to change his/her program to Undeclared at any time, their financial aid award may be reduced or cancelled.
  • Complete a FAFSA Application and the FAFSA Interview (an International student must complete the International Income Verification Form only)
  • Pay the Reservation Deposit by the applicable deadlines
    • A student’s financial aid may be revoked if deposit not paid on time.
  • Have a term GPA of 2.0 or higher
    • A student’s financial aid package may be revoked for the following semester if they fall below a 2.0.
    • Exceptions may be given by the Financial Aid Committee under special circumstances.
  • Be in good standing with the Dean of Students in regard to the Community Life Guidelines as specified in the Student Handbook.

Securing Institutional Financial Aid
In order to secure Institutional Financial Aid Awards, a student will need to pay the non-refundable Reservation Deposit as reference in Elim’s Financial Aid Deadlines and Violations Policy. If the payment is not received by the deadlines listed in the Policy, any Institutional Aid awarded may be revoked.

Work Study
Wages will be applied directly to the student’s bill, and all awarded hours must be worked in order to receive the full award/package value.

A student may lose their Work Study position and therefore, forfeit that portion of their financial aid package for a semester if a student

  • Does not submit all the required paperwork by the applicable deadlines
  • Accepts early/late Work Study, but does not show up for work

If a student fails to meet minimum performance standards (evaluated by their supervisor), is often tardy and/or misses their scheduled shift, their Work Study supervisor will address the issue with the student verbally.

If another such incident occurs, the Supervisor will schedule a meeting with the student. At such a meeting, an Employee Incident Report will be filled out by the supervisor and signed by the student. After three such incidences, a student’s Work Study will be reduced or removed for that semester. It may also be reduced or removed for the following semester. All written warnings and suspensions/terminations will be filed with the Work Study Coordinator.

If a student does not show up to these meetings, their Work Study may be suspended until they meet with their supervisor.

Suspension, missed shifts, incomplete paperwork and/or failure to complete all assigned work hours may result in the loss of Work Study hours missed during that time.

Withdrawal
Should a student withdraw or be required to withdraw before a semester is over, their aid package may be reduced or cancelled. If the student fails to properly withdraw they may lose their Institutional financial aid. Please reference the Withdraw Policy for details on how to properly withdraw.

Only Work-Study hours that have been worked prior to a student’s withdrawal will be awarded to their account. Any unearned Work-Study will be cancelled.

Refunds and Credit Balances
Cash refunds will not be issued for credit balances resulting from Institutional Financial Aid.* If the student does not complete their program or withdraws from EBI&C and has a credit on their account and has Institutional financial aid, these credits will be reduced to bring the students balance to $0.

If a student’s account balance is $0 and they have Work-Study hours yet to be worked, Elim reserves the right to cancel their remaining Work-study hours in order to prevent a credit balance from accumulating, based on Elim’s need.

*If a credit due to worked Work-Study hours accumulates on a student’s account

  • The credit will be refunded to the student; or
  • The credit will be rolled over to the next semester only with a student’s written consent

Financial Aid Appeals
If a student wishes to appeal for a change in their Financial Aid package, they will need to email their request to the Financial Aid Officer.

The Financial Aid Officer will then bring the students appeal to the Financial Aid Office Overseer, who will decide on the appeal’s outcome.

Declining Financial Aid
If a student desires to decline any portion of their Financial Aid Package after accepting the aid, they will need to email their request to the Financial Aid Officer.

The Financial Aid Officer will contact the Work Study Coordinator—if Work Study is being declined—and verify that the student’s position has been filled. If the Work Study Coordinator releases the student from their Work Study, the Financial Aid Officer will decline the student’s aid as requested.