Terms and Conditions of Financial Aid Awards

  1. Stockton University awards financial aid to recipients on a non-discriminatory, equal opportunity basis.
      
  2. Financial aid recipients must be matriculated and pursuing courses leading to a degree.
    Students MUST be enrolled at least half-time (6 credits) for the following federal programs:
    Federal Work Study, Perkins Loan, Supplemental Educational Opportunity Grant (SEOG), Federal Direct Loans, Federal Direct PLUS (parent) and Graduate PLUS loans.  (Remember-if your attendance falls below half-time, you will be using your grace period for repayment of your Perkins and Federal Direct Stafford Loans).
    Students MUST be enrolled full-time
    for the following state programs:
    TAG, EOF, NJ STARS II, Governor's Urban Scholarship and other state programs as outlined in the state financial aid handbook and web site.  
     
  3. Financial aid recipients must meet Satisfactory Academic Progress standards. Please review the Satisfactory Academic Progress policy.
     
  4. Financial aid awards are processed on the basis of full-time attendance for undergraduate students (12 or more credits per semester). Any changes in enrollment status, such as number of credits, leave of absence, withdrawal, graduation or completed requirements for bachelors degree, may result in reevaluation of the award(s). The student may then become responsible for the balance of his/her bill and all late fees.

  5. If you officially or unofficially withdraw during a payment period or period of enrollment, the amount of financial aid that you have earned up to that point is calculated by a specific formula. If no last date of attendance can be determined through our attendance monitoring process, the student must repay all funds credited to his or her account. If you receive more financial aid than you earned (based on the number of weeks you attended), the excess funds must be returned. Available, upon request, in the Financial Aid Office (Campus Center-suite 201) is “Treatment of Federal Student Aid When a Student Withdraws” and the calculation worksheet for the “Treatment of Title IV Funds when a student withdraws from a credit hour program.”
     
  6. Students must notify the Office of Financial Aid as well as Office of the Registrar of any change of the following: address, withdrawal, leave of absence or change in the number of credits attempted.  
     
  7. Receipt of any outside sources of financial aid, including grants or scholarships, may require adjustments to your financial aid package.  Examples of financial aid resources that could adjust your financial aid package
    including but not limited to:  waivers of tuition and fees, assistantships, housing and meal benefits as a resident assistant (RA)
      
  8. The institution is required by federal and state regulations to review financial aid applications through the process of verification.  The deadline for you to submit required financial aid documents for verification is two weeks from the date of your e-mail notification.  Failure to submit your documents within this timeframe may result in a delay or cancellation of your financial aid awards.  If your award changes as a result of verification, you will be notified by e-mail within 30 days.
     
  9. The Office of Financial Aid reserves the right to request verification of any data submitted by parents or applicants. If the data is found to be incorrect, the data may be corrected and the award revised. If the applicant is determined ineligible for financial aid, the applicant’s award can be withdrawn. The applicant will then be responsible for payment of all expenses incurred at Stockton University.
     
  10. Awards are based on information provided by the applicant and are subject to revisions and/or cancellation at any time if: federal or state regulations change; federal, state or institutional fund allocations change; estimated family contribution changes; student receives a scholarship, VA educational benefits, NJ National Guard Waiver, NJ Dept. of Labor Waiver programs; or an error is made in the calculation of your eligibility or award, whether by the Servicer or the institution.
     
  11. Financial aid awards are for an academic year, with equal payments for the fall and spring terms.  With the exception of Federal Work-Study, half of the total award will be credited to the fall semester bill and half to spring bill. These amounts will be transmitted to the Bursar’s Office and posted on your account. After the aid is disbursed and the student account is paid in full, the Bursar’s Office will issue any remaining balance of financial aid funds to you.  Your refund will be available after the semester begins.  You will receive notification from the Bursar’s Office for the exact date. If financial aid does not cover your bill, you will be responsible for the difference. Contact the Bursar’s Office to make payment arrangements or for personal deferment/budget plan information. You may access the Bursar’s Office Website for available information on the budget plan.

  12. If you are a recipient of any Stockton University scholarship, your scholarship awards (both Institutional and Foundation) cannot exceed your direct costs including tuition, fees, on-campus housing, and board for fall and spring semesters only.  In the event you have institutional scholarship awards remaining after your direct costs have been covered, you will not receive a credit balance on your account, nor will you be issued a refund check.  If the University is unable to arrange on-campus housing for you, a refund may be issued to assist with the cost of off-campus housing, provided you submit evidence of off-campus housing arrangements.
     
  13. First-time Federal Direct Stafford Loan Borrowers at Stockton MUST complete an Entrance Interview andFederal Direct Stafford Master Promissory Note(MPN).   Federal Direct loan proceeds will not be disbursed until the student has met these conditions.  
     
  14. You are responsible for managing your Federal Direct Stafford Loan borrowing.  Be aware of your aggregate loan limits.  Go to www.nslds.gov .  Awarded Direct Loans will be reduced upon notification from the federal government.  As a result, you may owe money to the Bursar's Office.
       
  15. Students who are awarded Federal Work-Study as part of their financial aid package have the opportunity to work on campus in a variety of jobs, or off campus in nonprofit agencies. The program is a great way to earn spending money while at school. You will be required to complete several forms before you can begin working.  You can access  additional information on the Federal Work-Study program on the web.
     
  16. The Federal Direct PLUS and/or Alternative loan resources will be applied to the bill after the requirements to receive loan funds have been completed by you and approval is received.  You can access information on the Federal Direct PLUS and Alternative loan programs on the web. 
     
  17. Alternative (private) loans will be awarded based on the direct costs for the program, plus books.
     
  18. If you receive an outside scholarship, your awards may be adjusted. It is your responsibility to provide scholarship information to the Financial Aid Office.
      
  19. Please note that students cannot use any current financial aid to pay prior educational expenses at Stockton. 
     
  20. It is your responsibility to file a Free Application for Federal Student Aid (FAFSA) form each academic year by March 1. You can file the FAFSA on-line at  FAFSA on the Web - U.S. Department of Education 
     
  21. The institution, state, and federal government is absolved of any and all responsibility for funding in the event that a grant and/or a loan or any other financial assistance is based upon fraudulent, inaccurate or misleading information.
     

The following terms and conditions apply specifically to graduate students as well as the terms and conditions listed above.

  1. Graduate financial aid recipients must be matriculated and enrolled half-time (6 credits) pursuing courses leading to a graduate degree.

     
  2. Financial aid awards are processed on the basis of half-time attendance (six credits per semester) except for Physical Therapy and Occupational Therapy, which are based on eighteen (18) credits per semester. Any changes in enrollment status, such as number of credits, leave of absence, or withdrawal may result in a reevaluation of the award(s). The student may then become responsible for the balance of his/her bill and all late fees.

     
  3. Awards are based on information provided by the applicant and are subject to revisions and/or cancellation at any time if: federal or state regulations change; federal, state or institutional fund allocations change; estimated family contributions change, student receives a scholarship, graduate assistantship, VA educational benefits, NJ National Guard Waiver, NJ Department of Labor Waiver programs, or an error is made in the calculation of your eligibility or award, whether by the servicer or the institution.

     
  4. The Office of Financial Aid reserves the right to request verification of any data submitted by the applicant. If found to be incorrect, the data will be corrected and the award will be revised. If the applicant is determined ineligible for financial aid, the applicant’s award can be withdrawn. The applicant will then be responsible for payment of all expenses incurred at Stockton University.