Financial Aid

Financing Reed

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The Financial Aid Handbook has information for continuing Reed students.

Establishing and maintaining eligibility

Satisfactory academic progress
Underloads
Verification
Selective service
Drug convictions

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Students who fail to maintain eligibility for federal or state grant programs will not have these resources replaced with institutional grant funds.

Satisfactory academic progress

Satisfactory academic progress for financial aid recipients at Reed College is defined as earning a minimum of three units per semester and maintaining a minimum cumulative 2.0 grade point average each semester. These requirements will be reviewed at the end of each semester. If a student does not attend fall and spring semesters of an academic year, progress will be measured for every two semesters of attendance. For federal funding (such as Pell Grant, SEOG, FWS, Perkins Loan, Direct Loan, and PLUS Loan), eligibility is limited to a total of 12 semesters of college attendance. For institutional funding, eligibility is limited to a total of eight semesters of college attendance, which includes semesters spent at other colleges or studying abroad, whether or not you received aid those semesters.

If you do not meet satisfactory academic progress requirements, you will be placed on financial aid warning for the following semester. During the semester you are on financial aid warning, you must complete a minimum of three units with a 2.0 grade point average. Students who do not fulfill unit and GPA requirements by the end of the academic year become ineligible for further federal, state, or institutional financial aid funding. Students who lose eligibility for financial aid may appeal their status to the financial aid office.

Underloads

Institutional grant funding is awarded for full-time, undergraduate study. Part-time students are ineligible for institutional funding, and eligibility for federal funding will be pro-rated based on the number of units in which the student is enrolled. Students who successfully petition the college for an underload may petition the Admission and Financial Aid Committee to be considered for institutional funding while taking an underload.

Verification

The financial aid office verifies all applications for need-based assistance. The verification process applies if you are receiving funds from any of the following financial aid programs: Reed grant, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Work-Study, Federal Perkins Loan, Federal Subsidized Direct Loan, and State Student Incentive Grants (such as Oregon Opportunity Grants). To complete verification requirements, you must complete and return the verification worksheet to the College Board IDOC Service, along with all required supporting documents and signatures. Students applying for federal aid only may submit documents directly to the financial aid office. Students and parents of dependent students must also use the IRS Data Retrieval Tool to update the FAFSA once their tax returns have been filed with the IRS. Students and parents who are unable to use the IRS Data Retrieval Tool should submit an IRS Tax Return Transcript to the financial aid office. A Tax Return Transcript may be ordered online at www.irs.gov. The financial aid office will process verification documents throughout the school year; however, required verification documents must be received in the financial aid office by the last day of the academic period for which financial aid was offered or by the last day of the student’s attendance, whichever is first. Eligibility for financial aid will be cancelled for students who do not complete the verification process within these established time frames.

Selective service

Federal regulations state that anyone required to register with Selective Service at any time must have done so in order to receive federal financial aid. This requirement applies to some state grant programs also. Only students are required to register for Selective Service to be eligible for federal funds. Parents who want to borrow a PLUS Loan don't have to meet the registration requirement.

Drug convictions

Federal regulations state that a drug conviction can disqualify a student for federal financial aid. Some state grant programs have adopted these regulations as well. A conviction that was reversed, set aside, or removed from the student's record does not count, nor does one received when the student was a juvenile unless the student was tried as an adult.If the conduct leading to the conviction occurs during a period of enrollment for which the student is receiving Title IV grants, loans, or work assistance, the student loses eligibility for a specified period of time. If the conduct leading to the conviction does not occur while the student is receiving Title IV aid, a conviction has no effect on the student's future eligibility for aid.

For possession of illegal drugs, a student is ineligible following the date of conviction for:

  • One year for a first offense
  • Two years for a second offense
  • An indefinite period for three or more offenses

For sale of illegal drugs, a student is ineligible following the date of conviction for:

  • Two years for a first offense
  • An indefinite time for a second offense

If a student is convicted of both possessing and selling illegal drugs, and the periods of ineligibility are different, the student will be ineligible for the longer period.

If a student successfully completes a qualified drug rehabilitation program, the student regains eligibility on the date of completion; however, further drug convictions will make the student ineligible again.

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