Document Number: SFS--113 Revision #: 1.0
Document Owner: Executive VP Date Last Updated: 08/17/2012
Primary Author: Executive Director of Enrollment Services Status: Approved
Date Originally Created: 11/30/2011
General Description
Description: Information about notification relative to student financial assistance.

Purpose: Delineation of policy.

Scope: Students

Responsibility: Student Financial Services
Relevant Knowledge: In order to comply with this policy you should know:
Current University policy
Federal statutes
Standard company policies
Standards of good practice
State statutes
Terms and Definitions: Additional training

Corrective Action

Loss of privilege, general
Policy Provisions
1. Notification

Determination of type and amount of financial assistance will be made by the Director of Student Financial Services. This determination will take into consideration the applicant's need as established by need analysis and the programs for which the applicant qualifies.

1. Students whose financial assistance files are complete before the priority deadline of February 1 will be given priority over those applying after that date.
2. Qualified applicants receive notice of their award by the Cumberland University Financial Assistance Award Letter. Financial assistance is awarded for the entire academic year, but is subject to rescission if a student fails to meet eligibility criteria for the second semester of the award year.
3. Students may accept or decline the different sources which encompass their financial assistance package. For those who decline any portion, the University will not replace the source with monies from other programs.
4. Financial assistance awards are not credited to the student's account until the student enrolls for the semester(s) for which the award has been made.
5. Awards of Federal and State monies are subject to funding by the government.
6. Students who receive Federal money and withdraw from the University may be required to repay part of the Title IV monies.

Performance Evaluation
Performance Metrics: Compliance with standard policy and procedure
Compliance with federal mandate

Consequences: Further training
Loss of privileges
Subject Experts
The following may be consulted for additional information.
Executive Director of Enrollment Services