Terms and Conditions
The terms and conditions students agree to honor in order to receive financial aid at Stetson University are listed below. These can be accepted through the student's MyStetson page.
The university may adjust awards to comply with federal and state regulations in those instances when the student is eligible for state or federal grants through need-based financial aid programs. Also, adjustments may be made to accommodate other scholarship awards. The university will not award scholarship amounts in excess of actual educational costs at Stetson University, and most scholarships are awarded to cover the cost of tuition only. Institutional aid is never refunded in the event that financial aid exceeds direct cost. Most scholarships are awarded with the expectation that the student will live on campus. The university reserves the right to rescind or revise any financial aid award to ensure accuracy and abide by regulations. At times, students are awarded institutional scholarships that may later be changed to named scholarships. Named scholarships are those made possible by the generosity of alumni and friends of Stetson University. These donor-funded scholarships either supplement or replace the initial award; therefore, they are not an addition to an existing institutional scholarship. Each candidate is eligible for one academic scholarship only, but academic or leadership scholarships may be made in combination with music talent scholarships, athletic grant-in-aids and with need-based assistance.
Title IV Authorization
Title IV financial aid funds are federal funds used to pay tuition, fees, room and board, as well as other educational expenses such as books. With my authorization, Stetson University can hold any credit created by these funds and apply them to other charges on my student account. I understand that if I receive federal financial aid that I must answer the authorization questions on MyStetson before my financial aid will be disbursed to my student account. I also understand that this authorization will remain in effect for the entirety of the academic year. I understand that the authorization is voluntary and can be rescinded if I submit a written request to the Office of Student Financial Planning. Authorizations of PLUS loan funds require a separate form from the parent who has been approved to borrow funds thought the Parent PLUS Program.
Book Store Advance
- I understand that I may be eligible for a book store advance if my financial aid exceeds my direct charges.
- I understand that this advance is for the purchase of textbooks and related academic supplies only.
- I understand that I do not have to use my book store advance but can decide to receive a refund check to cover the purchase of my books. If I decide to use my refund check, the earliest the refund will be available is 14 days after my financial aid has been credited to my student account and after the registration period stated on the academic calendar.
- I understand it is my responsibility to cover the cost of my textbooks in the timeframe required by the faculty instructing each course.
- I understand that even though I may receive a notification that I have funding to cover the purchase of text books that I am ultimately responsible for verifying the accuracy of the advance and for all charges incurred if the amount of the voucher is less than estimated.
- I understand that if I am receiving a Pell Grant in my financial aid award, I can decide to request a refund instead of a bookstore advance of $600 or my Pell Grant, whichever is less. I understand that I will need to request the refund by the deadline communicated to receive the refund early.
Financial Aid Disbursement:
- I understand that my loans will be disbursed to my account beginning the day after the registration period to add a course is complete and will continue throughout the semester as I meet all eligibility requirements.
- I understand that not all financial aid awards will disburse at the same time.
- I also understand that summer aid is dependent on my course load.
- I understand that the disbursement process is initiated by posting financial aid funds to my account and charges will be deducted at the time of disbursement.
- I understand I should check my MyStetson page and Stetson email to confirm my disbursement.
- I understand that I should check my One Stop Checklist on MyStetson for any missing requirements.
- I understand that I have the right to cancel all or a portion of the loan, loan disbursement, TEACH Grant or TEACH Grant disbursement, and have loan proceeds returned to the holder of the loan.
- I understand that my credit balance will be provided in the form of a refund (to parents, if Parent PLUS loan funds are received) within 14 days of disbursement of the loan unless I have requested otherwise.
When does financial aid disburse?
The student's financial aid funds will disburse following the add/drop period of the fall and spring semesters. One half of the total award will disburse equally each semester. Student loans will have be reduced by the amount of the federally required origination fee. If a student's finalized financial aid exceeds their charges, they can receive a refund based on their answer to the credit hold question in the "Resources and Additional Information" step of accepting their award. Students can elect to receive this refund via direct deposit by completing the direct deposit form. Institutional funds are not eligible to be refunded to a student, and would be reduced to cover the actual cost.
- I understand that the college will freeze my enrollment at the end of the registration period to add a course for each semester. This means that I will make any and all adjustments to my course schedule before that date to avoid any potential funding issues with repeat courses or being enrolled less than half time.
- I understand that once my course schedule has been completed any Pell Grant for which I am eligible as determined by the FAFSA will not adjust regardless of any changes to my enrollment.
- I understand that if I am enrolled less than full-time, my financial aid award may be reduced and/or canceled due to not enrolling in the minimum required hours for the aid. State Aid will adjust and may result in a repayment due to the state from the student. I understand there are no exceptions to this policy.
Estimated Financial Aid Awards
- I understand that my award may be ESTIMATED due to a variety of circumstances that I may need to address and resolve before my financial aid award can be finalized and disbursed. I will monitor my outstanding requirements on MyStetson and submit the necessary documentation as soon as possible.
- I understand that if I fail to complete the financial aid process by the priority deadline that my financial aid eligibility may be affected or that I may not be eligible for a variety of funds that I may have received in previous years.
- If I am selected for Verification, I understand that I will need to provide the Office of Financial Aid a variety of documents to validate the information I submitted on my Free Application for Federal Student Aid (FAFSA).
- I understand that my awards remain estimated until the verification process is completed by the office of financial aid and that my final award may differ from any estimated awards as the result of information presented during the verification process.
- I understand that most of my financial aid requires me to be enrolled full-time. Full-time enrollment for Stetson University for purposes of financial aid/student accounts is defined as at least 12 credits/3 units for the fall and spring semesters. However, enrollment in 16 credits/4 units is recommended in order to graduate in four years. Scholarships may not be available after four years, unless otherwise noted. Enrollment of less than 12 credits/3units per semester will result in the reduction of aid.
Federal Direct Student Loans
- I understand that if I am awarded Federal Loans, I must complete an Entrance Counseling session and Master Promissory Note at http://studentloans.gov.
- I also understand that I must be enrolled at least half-time, meet satisfactory academic progress and meet all regulations that are required of me to receive my loan proceeds.
- I understand that I have the right to cancel all or a portion of the loan, loan disbursement, TEACH Grant or TEACH Grant disbursement, and have loan proceeds returned to the holder of the loan.
Federal Work Study Programs
- I understand that there is a variety of work study (federal and institutional) positions available at Stetson University. I acknowledge that it is my responsibility to seek a suitable employment opportunity that fits my career goals, academic interests, and course schedule.
- I understand that each employer within the student employment program at Stetson has sole discretion over the hiring decisions of their department - No student is guaranteed placement in a position or the ability to earn a specific dollar amount through the program.
- I understand that I am violating federal law and Stetson policy if I begin working before I confirm with my supervisor and the Office of Student Financial Planning that I am authorized to work and all federal and institutional requirements for employment have been satisfied.
- I acknowledge that any student terminated from student employment for cause may waive the right to on-campus employment during the remainder of the academic year during which the termination occurred. I accept responsibility for educating myself on all requirements for participating in student employment and all policies that govern the program. I further acknowledge that ignorance of an established student employment policy or regulation does not exempt me or my employer from compliance.
Financial Aid Over-Awards
I understand that my financial need is the difference between the cost of attendance (COA) and the amount of my family’s expected family contribution (EFC) as calculated by the Federal Methodology formula from data I provided on the FAFSA. I understand that my eligibility may change if I receive funds from another source that is not included on my initial financial aid award. I understand the financial aid office will communicate with me these changes and that I am responsible for reviewing MyStetson frequently to understand how my award may have been affected.
Florida State Residents
As a Florida Resident, I may be eligible to receive funding from the State of Florida.
- I understand that the state of Florida requires me to submit a Free Application for Federal Student Aid (FAFSA), as well as eligibility criteria and resident information to the Office of Financial Aid in order to qualify for one or more of the following funds(s): Florida Bright Futures and Effective Access to Student Education Grant (EASE).
- I understand that if I fail to submit the necessary information, that I may lose my eligibility and will have to pay the difference to the college. Learn more on the Florida Bright Futures website. In order to receive the Effective Access to Student Education Grant (EASE) the Office of Financial Aid requires a completed form provided by this office and 2 forms of identification provided by the claimant establishing a minimum of 12 months residency.
Full Ride Athletes or Scholars
I understand the if I receive a full athletic scholarship or the total amount of my scholarship exceeds the total amount of tuition, fees and books, it is my responsibility to claim that untaxed income on my Federal Tax Return. It is recommended that I consult a tax advisor regarding my reporting responsibility. I understand that scholarships are not taxable as long as they do not exceed expenses incurred for tuition, fees and books (not including room and board). I am responsible for determining whether the total amount of all scholarships received is greater than the total of my mandatory charges. I understand that if I have questions regarding my tax liability from scholarships or any other resource I can consult Publication 970 of the IRS code or a tax professional.
- I understand that if I am receiving a merit scholarship that I must maintain the stipulations in my scholarship(s) agreement. I understand that if I fail to meet those stipulations I may lose my scholarship(s) until I regain eligibility. I also understand that the college will not make up the loss of my scholarship with additional gift aid resources.
- I understand that the merit scholarship provides an award annually to the recipient for up to four (4) years, maximum eight (8) semesters, or receipt of bachelor's degree (whichever occurs first) for undergraduate study at Stetson University. Semesters exempted through transfer credit and enrolled semesters which were not satisfactory, do count towards your 8 semesters and will be reduced accordingly.
- I understand that if I am selected for a donor-funded scholarship, the recipient agrees to annually write thank you notes, complete an online profile, and attend the Benefactor Luncheon, if requested, in addition to maintaining a minimum 2.0 GPA (unless otherwise stated in the scholarship criteria). I understand in many cases, these donor-funded scholarships either partially or wholly fund a merit award; therefore they are not an addition to an existing Stetson scholarship.
- I understand that if at a later date, you qualify for an additional higher-level award from Stetson, your merit award will be adjusted or superseded so that you will receive the more advantageous offer, but not both.
- I understand that Merit award disbursements are split equally between fall and spring semesters as merit scholarship packages do not apply to the summer semester.
My Stetson Email Account
I understand that Stetson University Office of Student Financial Planning communicates with students and their parents by e-mail. I will monitor my Stetson account and will be responsible for checking my Stetson account regularly. I understand the importance of information communicated to student or parent emails and that I am responsible for the consequences of any missed deadlines or change in eligibility due to unresolved issues and that the Office of Student Financial Planning is not at fault.
- I understand that if I receive an outside scholarship or additional state grants/scholarships that my award may be affected. I will submit all information from my scholarship agency to the Office of Student Financial Planning as soon as I am notified that I will be receiving additional funds.
- I understand that my financial aid package and resources cannot exceed the cost of attendance and that the Office of Student Financial Planning may reduce funding sources in the event that I am in jeopardy of exceeding my cost of attendance.
- I understand that in such circumstances the Office of Student Financial Planning may reduce my loans/work study before reducing any grant eligibility in my financial aid package. I understand that I can request that the financial aid office reduces my work study before reducing my loan eligibility, however, I must do so in writing to the Office of Student Financial Planning.
I understand that if I agree to reside in premium housing additional scholarship and grant funding will not be made available to cover additional associated expenses. I understand that I may be eligible to increase my loans to cover these charges or pay for these items with a payment plan or additional financing options.
Reconsideration of Aid
I understand that I have the opportunity to appeal financial aid decisions. If I wish to request a reconsideration of the financial aid, I must submit an appeal to the Director of Financial Aid with supporting documentation of my situation. I understand that only certain circumstances can be evaluated such as loss of income, unusual medical expenses (not premiums), separation/divorce, death of a family member, or non-discretionary expenses incurred by the family.
Repeat Course Work
I understand that if I receive a passing grade for a course and need to enroll in the same course for any reason that my financial aid may be affected. I will work with my academic advisor to ensure that I maintain full-time status in order to receive all of my financial aid. I understand that by the end of the registration period to add a course, if I have not enrolled in full-time credits, my financial aid will be prorated based on the total of all the new courses that have not already been paid for by my financial aid. I understand that most federal, state and institutional aid programs require that I be enrolled as a full-time student.
Satisfactory Academic Progress
- I understand that in order to be eligibility for federal, state and institutional financial aid programs, I must initially and continually meet satisfactory academic progress (SAP). Stetson University standards of SAP measure a student's academic performance both qualitatively and quantitatively by reviewing the following three areas of performance: completion rate for coursework enrolled, cumulative grade point average earned, and the maximum time frame to complete a degree.
- I understand that the Office of Student Financial Planning is responsible for monitoring and communicating that I am meeting these minimum standards. The standards of SAP apply for all federal, state and college funded financial assistance programs.
- I understand that if I fail to meet the minimum requirements to be eligible for financial aid, I will lose my eligibility at the end of the period of review. I will have the opportunity to appeal the loss of my financial aid, and if my appeal is approved I will be required to improve my GPA and completion rate during the next semester for which I am enrolled immediately following approval of my appeal.
- I understand that I must improve my GPA and completion rate to the extent specified in the approval of my appeal in order to be in compliance with SAP.
Withdrawal or Leave of Absence
- I understand that financial aid funds are awarded with the expectation that I will complete the entire period of enrollment. I earn a percentage of funds based on the number of days in class attendance.
- I understand that federal regulations require Stetson University to calculate the percentage and amount of "unearned" financial aid funds that must be returned in the event that I alter my enrollment through any form of withdrawal prior to the end of the semester or designated period of enrollment. If I complete more than 60% of the enrollment period, I will have earned all of my eligibility for that period. I understand that this calculation may require me to repay funds that have already been disbursed or credited to my student account.
- I understand that if I take an approved leave of absence or withdraw in good standing from Stetson and do not attend another college or university during the academic school year, I will be eligible to renew my merit award based on original terms and conditions, if re-admitted to the University. Merit award reinstatement following an emergency leave is reviewed on an individual basis. If I leave Stetson to attend another college, I understand that I forfeit my merit funds. If I am suspended from Stetson University, merit awards are not reinstated in the event of re-entry and any future funds for which I might be eligible will be awarded based on individual case by case basis.
I understand that by accepting federal loans I accept all conditions and interest rates in effect now and in the future as determined by institutional, state and federal regulations. To the best of my knowledge, I verify that I am eligible to borrow federal loans based on aggregate limits, default, drug conviction and other criteria. Please review the eligibility requirements at www.studentloans.gov.