Office of Financial Aid

Policies

Return of Title IV Funds Policy

The Return to Title IV Funds Policy at Coppin State University is as follows:

The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations.

If a student leaves Coppin State University prior to completing 60% of a payment period or term, the financial aid office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:

Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.

Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:

Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.

When a student earned less aid than was disbursed, Coppin State University would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to Coppin State University.

When a student earned more aid than was disbursed to him/her, Coppin State University would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student's withdrawal.

Coppin State University must return the amount of Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the student's withdrawal.

Refunds are allocated in the following order:

Unsubsidized Direct Stafford Loans (other than PLUS loans)
Subsidized Direct Stafford Loans
Federal Perkins Loans
Federal Parent (PLUS) Loans
Federal Pell Grants for which a Return of funds is required
Federal Supplemental Opportunity Grants for which a Return of funds is required
Other assistance under this Title for which a Return of funds is required (e.g., LEAP)

Satisfactory Academic Progress

Undergraduate Students

Satisfactory academic progress includes maintaining both a minimum 2.0 cumulative GPA and earning 67% of total attempted credit hours. Attempted credit hours cannot exceed 150% of the required courses for the program. Students not meeting these conditions will be placed on financial aid suspension.

A first-time first year (FTFY) student will incur financial aid probation if after the first academic year his or her cumulative grade point average is less than a 2.0 on a 4.0 scale and/or fails to earn 67% of total attempted hours.

FTFY students on financial aid probation are automatically eligible for financial aid for two academic semesters. If after these two additional two semesters the student is not meeting satisfactory academic progress he/she is placed on financial aid suspension.

Continuing students who have less than 2.0 cumulative grade point averages at the end of the second academic year and/or who have not earned 67% of total attempted number of credits will be placed on financial aid suspension.

Transferring-in students who have less than 2.0 cumulative grade point averages at the end of the first academic year and/or who have not earned 67% of total attempted number of credits will be placed on financial aid suspension.

Students who incur financial aid suspension are not eligible for financial aid. Student may apply for an appeal to re-instate financial aid eligible (see Appeal Process For Reinstatement Of Financial Aid).

Graduate Students

Graduate students must maintain a cumulative Grade Point Average of 3.0 on a scale of 4.0 and must earn 67% of total attempted credit hours. Attempted credit hours cannot exceed 150% of the required courses for the program. Students not meeting these conditions will be placed on financial aid suspension.

Note: A minimum of six credits must be maintained prior to crediting loan fund proceeds to the student's account. Please contact the Financial Aid Office prior to dropping any class. Students are required to report all sources of financial aid, including private donor scholarships and to the Financial Aid Office. For information regarding please contact the Record's Office at (410) 951-3636.

Master Promissory Note (MPN)

The promissory note for Direct Subsidized and Direct Unsubsidized Loans is a Master Promissory Note (MPN). The MPN is a promissory note that students attending institutions of higher education will complete when applying for federal student loans. The terms of the loan have not changed, only the form to be completed has changed.

The MPN was developed to simplify and streamline the loan application process.

MPN has the ability to be used by the school as a multi-year promissory note. This allows a borrower to sign a MPN the first year and borrower will not be required to sign another note for future loans or increases. However, the school may, as its option, require additional forms to be completed.
For example, a student who enters school as a freshman and borrows under the Direct Loan Program at the same school during the four years of undergraduate study, may be able to borrow for all four years using the MPN.
The Loan Origination Center (LOC) and the Direct Loan Servicing Center (DLSC) will keep borrowers informed of their rights and responsibilities through disclosures statements.
The LOC sends the Disclosure Statement for each accepted subsidized and accepted unsubsidized loan originated by the school. It provides the borrower with loan-specific information such as loan type, amounts, and anticipated disbursement dates. In addition, the Disclosure Statement provides information to the borrower about reducing or canceling all or a portion of the loan.

Once the loan is disbursed to the borrower, the DLSC sends a disclosure to the borrower that tells the exact amount the school disbursed as well as the conditions of the loan.

Appeal Process For Reinstatement

Reinstatement of Financial Aid

A student who has failed to maintain satisfactory academic progress shall be reinstated for financial aid eligibility if the student has successfully raised his/her earned credit hours to 67% and attained at least the minimum cumulative grade point average required by the end of the next academic year.
A student has the right to appeal the suspension of his or her financial aid due to adverse satisfactory academic progress.

A student must submit a letter which explains why he or she has not successfully maintained satisfactory academic progress. Supporting documentation must be attached (for example: illness, death in family, work related emergency, etc). The financial aid appeals committee will review the letter and documentation and mail a decision to the student within 10 business days.

If the appeal is approved by the committee, the student will be placed on financial aid probation for one academic year. The student's progress will be evaluated at the end of the academic year in which the appeal is granted.

If the appeal is not approved by the committee, the student may submit a written appeal to the Director of Financial Aid. The decision of the Director of Financial Aid is final.

Rights and Responsibilities

Rights

You have the following rights:

You have the right to be notified when money is credited to your account.
You have the right to privacy.
You have the right to know what financial aid programs are available at Coppin.
You have the right to a complete explanation of the award process.
You have the right to know the Financial Aid Office's Satisfactory Academic Progress Policy.
You have the right to know Coppin State University's Refund Policy.
You have the right to cancel a student loan within 10 days from the time the funds were posted to your account.

Responsibilities

You are responsible for the following:

Reading and understanding all forms and agreements that you sign.
Following all directions carefully.
Submitting honest and accurate information regarding your financial circumstances.
Submitting required documentation in a timely fashion.
Signing a promissory and a statement of rights and responsibilities.
Informing the Financial Aid Office of additional sources of financial aid received.
Resubmitting your FAFSA or renewal application for aid each year.
A First Time Coppin State College Student Loan borrower must attend an entrance counseling session.
A graduating or exiting student loan borrower must attend an exit counseling session.

Equal Opportunity

Coppin State University, as an Equal Opportunity/Affirmative Action employer, complies with applicable federal and state laws prohibiting discrimination, including Title IX of the Education Amendment of 1972 (sex discrimination) and Section 504 of the Rehabilitation Act of 1973 (discrimination against the handicapped). It is the policy of Coppin State University that no person, on the basis of race, sex, color, religion, national origin, age, marital status, handicap, or veteran status, shall be discriminated against in employment, educational programs, activities, admissions, or financial aid.