Graduate Financial Services: Policies


 

In order to ensure your understanding of our policies and procedures,
we have provided brief overviews of what you need to know.
 
 
Withdrawal Information

If a student must withdraw from Nyack/ATS before the completion of studies, he/she is first required to consult with his/her advisor, and submit a NOTICE OF INTENTION TO WITHDRAW to office of the registrar.

Please be aware that withdrawal from the program will require Federal refund calculations to be completed for the loan process. This will affect a student’s eligibility for loans, financial aid, loan deferments and scholarships/grants.

For Student Financial Services advisement in case of withdrawal, please contact your financial aid counselor.

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Credit Refund Policy
A. REFUND POLICY

Credit refunds will be processed within 14 business days from the date of the financial aid disbursement. Students must have a credit on their account (over and above tuition, and fees for the current term) in order for the stipend to be processed.

 
 
Satisfactory Academic Progress (SAP)

Federal regulations require Nyack/ATS to establish and apply reasonable standards of satisfactory progress for the purpose of the receipt of financial assistance under the programs authorized by Title IV of the Higher Education Act. The law requires institutions to develop policies regarding Satisfactory Academic Progress (SAP). Each institution must design criteria, which outlines the definition of student progress towards a degree and the consequences to the student if progress is not achieved. Nyack College graduate students who wish to be considered for financial aid must maintain satisfactory progress in their selected course of study as set forth in this policy. 

Academic Policy

Incomplete course grades and withdrawals are not counted toward the grade point average component of the standard but along with course repetitions are used in measuring the academic progress of credits completed.   Only the second grade of a repeat course counts in the calculation of the student’s GPA.   Refer to the Academic Policy section of the Nyack College Graduate catalog for more detailed information regarding courses, grading standard and graduation. 

Institutional Policy

Satisfactory academic progress includes both a qualitative (grade point average) and quantitative (number of credit hours completed) measure of the student’s progress plus a maximum time frame to not exceed 150% of the program measured in academic terms and credit hours attempted.  The Student Financial Services/Registrar Offices will assess the student academic progress at the end of every term for all federal and institutional aid programs.

Transfer Students

When a student transfers to Nyack College Graduate School the academic office will determine the number of credit hours acceptable toward a graduate degree program at Nyack.   The standard of progress will begin at the appropriate point on the SAP chart according to the number of credit hours transferred.

Financial Aid Probation and Termination for Title IV FSA

The first time a student does not meet the standards of satisfactory progress at the end of the academic term; they will automatically be placed on financial aid warning status for the following term. Federal financial aid may still be received during the warning period. At the end of the warning term, the student must again be making satisfactory academic progress or financial aid will be terminated for any subsequent terms until the student has reestablished financial aid eligibility. 

Appeal Process

Any student who is denied Federal financial aid at the end of the one term warning period and who can prove special circumstances (i.e. serious injury or illness, death in the family, or other situations causing physical or psychological stress) is allowed to appeal their case. An appeal letter may be submitted with supporting documentation, if required, to the Office of Student Financial Services to request a waiver of the SAP standards for a semester.  If the appeal is approved, the student must determine and complete a specific academic plan.  At this time, the student will be placed on a one term financial aid probation and the SAP standards are suspended for that student during the probation term.

Reestablishing Financial Aid Eligibility

Students who have had their financial aid terminated due to lack of satisfactory academic progress may choose to enroll without benefit of financial aid. Students may also choose to attend another institution and transfer in the specified needed number of credits earned toward a graduate degree at Nyack that will bring them in line with the quantitative standards of the SAP policy.   Transfer credits will not be used to meet the qualitative or GPA standards of the policy.   Such students may request a review of their academic record after any term in which they are enrolled without the receipt of financial aid to determine whether they have met the satisfactory academic progress standards. If the standards are met, financial aid eligibility is restored for subsequent terms of enrollment. Students should consult with a financial aid counselor in the Office of Student Financial Services if they have any questions about this policy, the appeal process, or reinstatement of financial aid eligibility.

Notification

The following schedules represent a graduated rate standard based on percentage of credits earned as a minimum academic standard that must be met in order to be eligible for Title IV Federal Student Aid (Stafford Loans).  Students are notified in writing if they have failed to meet the standards along with implications and actions required to maintain or reestablish financial aid eligibility. 

For Federal Loans—Alliance Graduate School of Counseling,

Total Hours Attempted

Minimum Cum GPA

Minimum Percent Credits Completed

1.00 – 12.99

2.80

50.00%

13.00 – 99.00

3.00

75.00%

For Federal Loans—Master of Science in Education, Master of Science in Organizational Leadership, Master of Business Administration, Master of Social Work, Master of Arts Ancient Judaism & Christian Origins

Total Hours Attempted

Minimum Cum GPA

Minimum Percent Credits Completed

1.00 – 9.00

2.80

67.00%

10.00 – 99.00

3.00

67.00%

ATS Graduate Seminary Programs

For Federal Loans—M.P.S., M.A.

Total Hours Attempted

Minimum Cum GPA

Minimum Percent Credits Completed

1.00 – 6.99

2.00

50.00%

7.00 – 99.00

2.50

75.00%

For Federal Loans—M.Div

Total Hours Attempted

Minimum Cum GPA

Minimum Percent Credits Completed

1.00 – 6.99

2.00

50.00%

7.00 – 12.99

2.20

50.00%

13.00 – 99.00

2.50

75.00%

*Including semesters transferred from another institution.