Financial Aid
Terms and Conditions
About Your Financial Aid Award
Additional Eligiblity Parameters for Financial Aid
Elmhurst College Financial Aid Code of Ethics
Financial Aid Satisfactory Academic Progess
Estimated Direct Expenses
If you live in a residence hall, Elmhurst College will bill you for tuition, fees, room and meal plan charges. If you live with your parents or off campus, you will be billed for tuition and fees. Other educational expenses including estimates for books, miscellaneous expenses and transportation are a part of your estimated cost of attendance, but Elmhurst College will not bill you for these items.
Financial Aid Awards
All forms of Financial Aid cannot be disbursed earlier than 10 days prior to the start of each semester. All funds go directly to each student's account for the purpose of paying off direct institutional charges. The exception to this is Federal Work Study, which is paid to the student for hours worked in a campus job. If a credit balance is created by an excess of financial aid, the student can either request a refund or leave the funds on the account to carry forward to a future term.
Academic Scholarships
Offered at the time of admission to Elmhurst College and are renewable with the maintenence of the following required grade point average(GPA):
- Presidential and Transfer Excellence: 3.25 GPA
- Dean's and Transfer Achievement: 3.00 GPA
- Founder's and Transfer Recognition: 2.75 GPA
Grants and Scholarships
Financial aid that does not have to be repaid. Grants and scholarships on your award notice will automatically be credited to your account.
Pell Grant
A federally funded grant awarded to the neediest of students. In light of federal funding legislation, reductions to estimated or actual Pell grant awards are possible.
Federal Work-Study (FWS)
The amount awarded is not deducted from your tuition bill. The amount you are paid from the FWS award will be determined by how much you work in an on campus job. Paychecks are issued every two weeks or can be directly deposited into your bank account. To find a job on campus please go to www.elmhurst.edu/finaid "Student Job Opportunities" or attend the On Campus Student Employment Job Fair held in late August.
Loans
Loans are financial aid that must be repaid. For more information on federal student loans go to www.elmhurst.edu/finaid "Loans" or visit www.studentloans.gov. Elmhurst College is a Direct Lending school. Students receive Stafford Loans (subsidized or unsubsidized) directly from the U.S. Department of Education.
Subsidized or Unsubsidized Loans
To finalize your subsidized or unsubsidized loans, you must have a Direct Loan Master Promissory Note (MPN) on file. If you are a first time Direct Loan borrower, you may complete the MPN at www.studentloans.gov First time borrowers must also complete entrance couseling at www.studentloans.gov
Perkins Loans
If you were offered a Perkins Loan, you must have a Perkins Master Promissory Note (MPN) on file. If you are a first time Perkins Loan borrower, you may complete the MPN at https://signmyloan.com
PLUS Loan
If you are a dependent student, your parent may apply for a PLUS Loan for up to the amount of your cost of attendance minus all other financial aid awarded. One of your parents may complete a parent PLUS loan application and recieve the results on their creditworthiness at www.studentloans.gov A parent who has not previously borrowed a PLUS loan must complete a Master Promissory Note at www.studentloans.gov. The same parent must complete the loan application and the Master Promissory Note.
Illinois residents
By applying for financial aid and agreeing to share that information with the Illinois Student Assistance Commission (ISAC), you have been considered for the State of Illinois Monetary Award Program (MAP) grant. If you were determined to meet the eligibility criteria for the MAP grant, an award is included on this award letter. This award may be an estimate made by the financial aid office and, if so, is identified as a "State of IL MAP Grant (Est)". MAP grants are limited based on the number of applicants and funding levels appropriated by the Illinois General Assembly. Please be aware that in light of state funding constraints, reductions to estimated or actual MAP grants are possible.
Eligiblity for a MAP grant is tracked by the equivalent number if semester credit hours of MAP benefits paid on your behalf. This is called the MAP Paid Credit Hours. Payment for each term is being made according to the equivalent number of credit hours eligible for MAP payment, with a minimum if 3 and a maximum of 15 MAP Paid Credit Hours.
There is a limit on the number of MAP Paid Credit Hours that can be paid while you are classified by your school as a freshman and sophomore. This limit is the equivalent of 75 MAP Paid Credit Hours. If this maximum is reached, you must attain junior status for your MAP grant eligiblity to resume. The maximum number of MAP Paid Credit Hours that can be received is capped at 135.
If State of Illinois MAP(Est) grant does not appear among the awards listed on this notice, it means you ar not eligible to recieve a grant at Elmhurst College.
For more information on State of Illinois financial aid programs visit the College Illinois! Web Site.
More information about financial aid award notices can be found at www.elmhurst.edu/finaid or by calling the Office of Financial Aid at (630)617-3075.
Additional Eligibility Parameters for Financial Aid
Because federal loans have annual maximums, a student is eligible to borrow summer loans only if he or she did not borrow all of his or her loan eligibility during the previous academic year.
The College will withdraw a student's financial aid if inaccurate or misleading information is discovered on any material supplied by the student, a parent or spouse.
For students enrolled in the adult accelerated programs, academic sessions do not conform to traditional schedules. A session that starts between August 15 and December 31 is considered Fall Term; between January 1 and April 15 is considered Spring Term; and between April 16 and August 14 is considered Summer Term. An award letter describing fall and spring financial aid pertains to assistance offered for periods of enrollment within these parameters. Financial aid can be used only for courses that are part of a degree program.
If a student plans to take courses concurrently at Elmhurst and at another institution, the courses taken at the other institution must first be approved by the Office of Advising, to assure that they apply to a degree program at Elmhurst.
Elmhurst College Financial Aid Code of Ethics
As a member of the National Association of Student Financial Aid Administrators, the Elmhurst College Office of Financial Aid embraces NASFAA’s Statement of Ethical Principles which provides that the primary goal of the institutional financial aid professional is to help students achieve their educational potential by providing appropriate financial resources. To this end, this statement provides that the financial aid professional shall:
- Be committed to removing financial barriers for those who wish to pursue postsecondary learning.
- Make every effort to assist students with financial need.
- Be aware of the issues affecting students and advocate their interests at the institutional, state, and federal levels.
- Support efforts to encourage students, as early as the elementary grades, to aspire to and plan for education beyond high school.
- Educate students and families through quality consumer information.
- Respect the dignity and protect the privacy of students, and ensure the confidentiality of student records and personal circumstances.
- Ensure equity by applying all need analysis formulas consistently across the institution’s full population of student financial aid applicants.
- Provide services that do not discriminate on the basis of race, gender, ethnicity, sexual orientation, religion, disability, age, or economic status.
- Recognize the need for professional development and continuing education opportunities.
- Promote the free expression of ideas and opinions, and foster respect for diverse viewpoints within the profession.
- Commit to the highest level of ethical behavior and refrain from conflict of interest or the perception thereof.
- Maintain the highest level of professionalism, reflecting a commitment to the goals of the National Association of Student Financial Aid Administrators.
In addition, the Office of Financial Aid has always been bound to act in compliance with the vision of Elmhurst College’s mission "to support a diverse and caring community of scholars, teachers, students and staff who work together for the purpose of learning." To this end, Elmhurst College and its employees will:
- Educate students and families through quality consumer information;
- Maintain fiscal responsibility while ensuring that all sources of financial assistance are administered in a fair and equitable manner;
- Maintain an open line of communication to ensure that individual financial needs are understood and considered;
- Provide services that do not discriminate against any student or family;
- Disclose to Elmhurst College any involvement with or interest in any entity involved in any aspect of student financial aid;
- Commit to the highest level of ethical behavior;
and will not:
- Have any revenue-sharing agreements with any student loan providers;
- Accept gifts, meals, travel or any other items other than of a nominal value from student loan providers;
- Serve as members of loan provider advisory boards;
- Permit student loan providers to use the name or symbols of Elmhurst College in their marketing materials;
- Conduct business with loan providers whose employees claim to be employees of Elmhurst College.
Financial Aid: Satisfactory Academic Progress (SAP)
Federal (Section 668.16(e), 668.32(f) and 668.34) and state regulations require that schools establish and monitor the academic progress of students enrolled in a program of study that leads to a degree. In a financial aid context, failure to make Satisfactory Academic Progress (SAP) in the courses taken at Elmhurst College can result in a loss of eligibility for federal, state, and institutional financial assistance. Elmhurst College reviews the academic progress of financial aid recipients at the end of each semester (fall, spring and summer).
Overview of SAP Requirements
There are three parts to the Satisfactory Academic Progress requirement:
You must comply with all three components to remain eligible for aid, as explained in the following:
Grade Point Average (GPA)
The Satisfactory Academic Progress regulations require that you maintain a minimum cumulative grade point average (GPA) in order to remain eligible for financial aid. This cumulative grade point average is 2.0 on a 4.0 scale.
If you drop below a cumulative GPA of 2.0, you will be placed on a financial aid warning. While on a financial aid warning, you will continue to receive your financial aid, but you will need a cumulative GPA of 2.0 or better and complete 67% of your attempted coursework each semester in order to remain eligible for financial aid.
Although Elmhurst College does not require students to have a “C” average (2.0 GPA) at the end of their sophomore year, as long as they have made progress toward a degree, federal regulations state that a student without a “C” (2.0 GPA) average or equivalent or the required academic standing at the end of the second academic year may not receive further federal aid.
Cumulative (Overall) progress
The Satisfactory Academic Progress regulations also contains a quantitative component, meaning that you are required to make steady progress toward your degree by completing at least two-thirds (67%) of all your attempted credit hours. For example, if you attempt 4 credits (16 credit hours) per semester, you would be expected to satisfactorily complete at least 2.75 of these credits (10.67 credit hours) in order to comply with the minimum quantitative standards.
Attempted Credit Hours and Successfully Completed Credit Hours
All credit-bearing courses are calculated into “hours attempted” for financial aid purposes. Courses with passing grades (“A”, “B”, “C”, “D”, “P”) are considered to be hours successfully completed. Courses with Grades of “F”, “NF”, “W”, “NP”, “NG”, “I” are not considered as hours successfully completed. Note that repeated courses are counted in the “hours attempted” calculation for financial aid purposes and
If you do not successfully complete at least 67% of all credit hours attempted, you will be placed on a financial aid warning. While on a financial aid warning, you will continue to receive your financial aid, but you will need to complete 67% of your attempted coursework each semester with a cumulative GPA of 2.0 or better in order to remain eligible for financial aid.
Maximum Time Frame
The Satisfactory Academic Progress regulations also contain a maximum timeframe component, which specifies that the number of credit hours for which you may receive federal financial aid may not exceed 150% of the credit hours required for graduation. For most undergraduate programs, the maximum is considered to be 48 credits or 192 credit hours.
- Time Frame in years: Students are normally expected to complete an undergraduate degree by the end of four years of full-time study. Therefore, students will forfeit their eligibility to participate in federal financial aid programs after six years of full-time enrollment (4 x 150% = 6)
- Withdrawals: Grades of “W” are counted as courses attempted and count toward the maximum time frame
- Audited Courses: Students do not earn any academic credits for audited courses. They do not count in the calculation of “attempted credits”
- Pass/Fail Courses: These credits do count within the total of attempted and earned hours
- Transfer credits accepted for the student’s academic program or degree are counted when measuring the maximum time frame to complete the degree or program.
- Double Majors and/or Minors: Students who receive permission to pursue a double major/minor will normally be expected to complete all degree requirements before reaching 48 credits
- Change of Majors: Students who change their majors will normally be expected to complete all degree requirements before reaching 48 credits
SAP Policy Definitions
Financial Aid Warning
You are considered to be on a financial aid warning when you fail to meet the minimum satisfactory academic progress requirements for one or more of the following reasons:
- You are below the 2.0 cumulative GPA requirement; and/or
- You are below the 67% minimum course completion rate, and/or
- You are close to exceeding the 150% timeframe limit
Once you are on a financial aid Warning, you must complete at least 67% of attempted courses each semester with a cumulative GPA of 2.0 or better in order to remain eligible for financial aid. When you are in a warning status you will retain your financial aid for one semester only. If you do not meet the minimum overall progress requirements (2.0 cumulative GPA, and 67% completion rate of hours attempted), after the completion of the Warning semester, your financial aid will be suspended.
Financial Aid Suspension
You are considered to be in financial aid Suspension when you fail to meet the minimum satisfactory academic progress requirements for one or more of the following reasons:
- You are below the 2.0 cumulative GPA requirement and you did not meet the terms of your financial aid Warning; and/or
- You are below the 67% minimum course completion rate and you did not meet the terms of your financial aid Warning; and/or
- You have exceeded the 150% timeframe limits
Right to Appeal
If you have been suspended from receiving financial aid and successfully appeal your suspension, your financial aid eligibility will be reinstated on a probationary status for one semester unless an academic plan has been designed and followed which would allow for up to three subsequent semesters.
Appeal Procedure
If your eligibility for financial aid has been suspended you may appeal to the Financial Aid Appeals Committee for reinstatement based upon extraordinary circumstances. These circumstances include, but are not limited to, illness or injury that you may have suffered, death of a close relative, or other extenuating circumstances that result in undue hardship. The appeal must be in writing and must be submitted along with all relevant documentation within four weeks of receiving notice of suspension. There is a Satisfactory Academic Progress (SAP) Appeal Form available to help facilitate the appeal process.
Your Appeal should be directed to the Financial Aid Appeals Committee and include the following:
- Describe the specific reason(s), events or circumstances which prevented you from meeting the academic progress requirements
- Provide a specific plan/corrective action plan to improve your academic progress
Appeals are reviewed within two weeks. You should receive a letter with the outcome of your appeal within 21 days of your submission of the appeal, provided that all necessary documentation is submitted.
If you are appealing to receive aid for hours beyond the maximum number of attempted hours allowed, you must have the Office of Advising perform a degree audit and include the results and the exact listing of all remaining courses you need to complete the degree with your appeal documentation.
Reinstatement of Financial Aid (Probation Semester)
If your appeal is approved, you will receive financial aid on a Probationary basis for one more semester. In addition, an academic plan, developed by the Financial Aid Appeals Committee, may be developed for you to help you successfully progress towards your degree completion. This academic plan will clearly list various academic resources available at the College to help you. If you meet the standards of your academic plan, your Probationary period may be extended for three semesters.
The Financial Aid Appeals Committee will review your academic record at the end of each probationary semester to determine if you have achieved the minimum SAP requirements (cumulative 2.0 GPA and 67% attempted credit completion rate) and/or complied with your academic plan outlined in the reinstatement letter. If you have been reinstated under an academic plan and are making progress under that plan, you are considered to be an eligible student. If you fail to meet the SAP standard or the conditions outlined in your academic plan during their probationary semester, you will not be eligible for financial aid nor be able to submit a subsequent appeal for the future semesters.
NOTE: Even though you may be terminated for financial aid by federal policy, as long as you remain in good academic standing with the college, you may still be eligible to continue to attend Elmhurst College at your own expense. If you improve your academic standing and meet the satisfactory academic progress requirements, you may have your financial aid eligibility reinstated for the subsequent academic terms.
Special Considerations for Readmitted Students
Readmitted students are required to meet the satisfactory academic progress requirements. If you are returning to Elmhurst College after an absence, and your former coursework would indicate that you are below the minimum progress requirements, you will need to appeal for reinstatement for your student aid eligibility by submitting a Satisfactory Academic Progress (SAP) Appeal form explaining:
- Your revised academic objective and anticipated graduation date;
- Any specific corrective action plans you have made as part of your readmission process.
Appeals are reviewed within two weeks. You should receive a letter with the outcome of your appeal within 21 days of your submission of the appeal, provided that all necessary documentation is submitted.
