While the primary responsibility for financing a college education rests with the student, financial assistance is awarded to supplement the student’s contribution when the student’s funds are not sufficient to cover educational costs. The University attempts to meet a student’s established financial need through a combination of self-help (loans and employment). The Director of Financial Aid is responsible for coordination of the total financial aid programs.
Determination of Need-Based Financial Aid Eligibility
Rockhurst University utilizes the need analysis information from the Free Application for Federal Student Aid (FAFSA) to establish financial need. All students applying for financial aid based on need must complete the FAFSA need analysis form each year and designate Rockhurst University to receive the processed application. Need is determined by subtracting the family contribution as calculated on the FAFSA from the cost of education. The cost of education includes tuition, and allowances for books, room and board, transportation, personal expenses and loan fees. The student’s need for assistance can be met with loans and employment, either singly or in combination.
Application Process
Students who wish to be considered for financial assistance at Rockhurst should:
- Apply for admission to the University
- Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov; list the Rockhurst University Title IV code: 002499;
- Be degree seeking or certificate seeking
Students may apply for financial assistance anytime during the academic year. Programs must be reapplied for each year. Federal aid applications may not be filed until after January 1.
Coordination of Financial Aid
Any financial aid awarded is subject to review in light of assistance received from outside organizations or agencies. Funds received from outside sources that exceed the limits of gift and need based aid will be coordinated to first reduce the loans and/or work funds. Each award will be evaluated and adjustments made within University and program guidelines.
Standards of Satisfactory Academic Progress to Maintain Financial Aid Eligibility
Financial aid from any sources is provided for only one academic year at a time. Financial aid can be renewed each year provided the student remains in good academic standing and files a FAFSA.
A degree-seeking student at Rockhurst University is considered to be making satisfactory academic progress for a degree if successfully meeting a qualitative and quantitave standard. First, a graduate student must complete a reasonable number of credit hours toward a degree each academic year. Rockhurst University defines “a reasonable number” as 80% of all attempted hours. Second, a student must maintain academic standing, derived from grades, that allows for continued enrollment at Rockhurst under current academic guidelines. The minimum grade point average for satisfactory academic progress is a cumulative 2.00.
Each student’s progress will be reviewed at the end of each academic semester to determine satisfactory academic progress. Requirements for the second component of satisfactory academic progress for graduate students are established by the appropriate school or college division. Students should also refer to the Graduate Academic Policies section of this catalog, specifically policies regarding time limits for completion of a doctoral or master’s degree, quality point requirements, and program progression policies.
Students not meeting the satisfactory academic progress for a particular term will be placed on financial aid warning, will receive a one-semester financial aid award, and will be notified in writing by the Director of Financial Aid. Students on financial aid warning who fail to meet the standard by the end of the next semester will be placed on financial aid suspension until all academic progress requirements are met. No institutional, state, or federal financial assistance eligibility can be certified until academic deficiencies are satisfied. Students have a one-semester grace period to make up academic deficiencies.
A student whose federal or college aid is terminated due to failure to comply with this policy may appeal the aid termination if catastrophic conditions were present to the Financial Aid Committee. Appeals must be submitted in writing to the Director of Financial Aid explaining any mitigating circumstances that caused the student’s academic progress to be less than the requirements, supported with documentation. The Financial Aid Committee will inform the student of their decision concerning the appeal within 30 working days after receipt of the appeal. Decisions of the Financial Aid Office are final.
Once financial aid eligibility has been terminated due to lack of satisfactory academic progress, the student must make up all deficiencies in cumulative grades and/or credit hours earned for his or her academic level before financial aid eligibility will be reinstated.
Payment of Awards
In most cases, one-half of the aid award is applied to the student’s account for each semester. The billing statement from the University’s Business Office will reflect the student’s charges and financial aid. Earnings from campus employment are not credited toward that balance due, but are paid to the student as earned on a monthly basis.
Withdrawals and Refund
Students who withdraw prior to completion of a semester are subject to the University’s policy concerning withdrawals and refunds. See “Refund Policy ” in the Tuition and Fees section of this catalog. To secure a refund, students must complete the withdrawal process prescribed by the University. See “Changing Enrollment ” in the Enrollment Policies section of this catalog. For students receiving financial aid, the refund will first be repaid o the Title IV programs, state grants and institutional funds in accordance with existing federal regulations and institutional policy in effect on the date of withdrawal with respect to the various types of aid. If any additional refund is appropriate, the funds will be repaid to the student. It is possible that students who withdraw will still have an outstanding balance due to the University that must be paid.
Renewal and Adjustment of Aid
Financial aid must be renewed each year. In addition to specific requirements of the federal financial aid programs, students must apply each year by submitting the Free Application for Federal Student Aid (FAFSA) or by notifying the Financial Aid Department that they do not intend to file the FAFSA. The aid processor makes Renewal FAFSA information available to all prior year applicants each year. The FAFSA should be filed as soon as possible after January 1, preferably when completed tax information for the preceding calendar year is available. Students may also apply online at www.fafsa.gov.
Students may apply for financial assistance anytime during the academic year. A completed financial aid file consists of a valid FAFSA need analysis and all required verification documentation. In addition, the student must also be registered for classes.
Each student must be able to document the information submitted on the need analysis (FAFSA) with income tax forms and /or other data required by the University or federal government prior to the receipt of Federal Title IV financial aid (Federal Perkins Loan or Federal Direct Stafford Loan). Documentation requested must be provided to the Financial Aid Office prior to the end of the semester for which it is requested; any additional deadlines established by the U.S. Department of Education shall also apply. Failure to complete verification will result in the withdrawal of all need based aid funds. Students whose application information must be corrected will be notified by the Financial Aid Office as to the corrections required.
Award adjustments may occur at any time during the year and result from such reasons as: adjustments to the financial need calculations due to a change in the student’s financial condition, errors by the student or University, additional funds available for award or reduction in funds from outside sources.
Right to Appeal
All students have the right to appeal or reject any aid awarded by the University and to appeal any award decisions to the Financial Aid Committee. Appeal of the financial aid award must be submitted in writing to the Director of Financial Aid.
The Financial Aid Committee will inform the student of their decision concerning the appeal within a reasonable time following its receipt. Send appeals to:
Director of Financial Aid
Financial Aid Office
Rockhurst University
1100 Rockhurst Road
Kansas City, MO 64110-2561
Federal Aid Programs
Rockhurst graduate students who qualify may receive the following sources of federal financial aid:
Federal Perkins Loan
These low interest loans are available to graduate students who demonstrate need. Funding is limited. Preference is given to full-time students.
Federal Direct Stafford Loan
These low interest loans are available to graduate students. Graduate students qualify for unsubsidized Stafford Loans (interest begins accruing immediately). The federal government retains an origination fee, deducted proportionately from each disbursement. Interest rates on these loans are variable based on the 91-day Treasury Bill, but not higher than 8.25%. Interest rates are set July 1st for the upcoming school year. Loan amounts vary dependent upon the level of demonstrated financial need and previous loan history. Graduate students have a maximum eligibility of $20,500 per academic year.
Federal Direct Graduate Plus Loan
This loan is available to students with good credit histories for educational costs not covered by other aid. Repayment begins after graduation. Interest rates are variable.
Graduate Assistantships
Some graduate programs offer graduate assistantships to students enrolled in their programs. These assistantships allow graduate students to work in a variety of capacities. Please contact the program to which you are applying or to which you have been accepted to see if assistantships are available.
Employment Opportunities
Career Services is available to students and alumni in defining their talents and interests, identifying career goals, and exploring career opportunities. Professional staff is available to meet individually with students to refine the tools used during the application process and discuss career search strategies.
To help make employer connections, Career Services utilizes the latest in technology when interacting with top local, regional, and national employers. A web-based office management system allows students and alumni to electronically post a resume, view current vacancies, and schedule campus interviews. Also, various career development resources, employer profiles, and occupational information are available for review. |
