Financial Aid FAQ

Where can I get advice on loans and money management?

To learn how to manage your money and handle your college debt, visit the Department of Education's website at http://www.college.org/.

Useful information regarding financial literacy may be found at http://www.mymoney.gov/, a website maintained by the U.S. Financial Literacy and Education Commission, or http://www.youcandealwithit.com.

Where else can I find financial assistance for education?

Your high school guidance office, your local library, our financial aid website, local businesses and labor organizations, non-profit and for-profit organizations such as religious organizations and town clubs, and scholarship services on the internet can all be helpful resources. Here are some reputable web sites: http://federalstudentaid.ed.gov , www.collegeboard.com, www.fastweb.com.

Government entities such as The Oklahoma State Regents for Higher Education, US Armed Forces, and US Department of Veterans Affairs offer various forms of benefits for qualified individuals. Education tax benefits are offered by the IRS; go to www.irs.gov, at the top left corner under information, click on "Individuals," then "Students" for information on tax benefits through the American Opportunity Tax Credit.

How can I estimate my out-of-pocket cost to attend St. Gregory’s University?

Prospective students can estimate the cost of attending the university, minus institutional, federal, and state assistance, by using the SGU’s online Net Price Calculator (NPC). Students who have not completed a FAFSA will need student and parent tax information and student academic records. Students who have completed the FAFSA need only to provide the calculated Expected Family Contribution (EFC) and academic records. The NPC will provide your estimated out of pocket expense based on the information provided.

What is the process for using aid to pay for my books and/or supplies?

If you are awarded more money than necessary for tuition and university fees, it can be used to help pay for books or supplies. You will need to check with the Business office to make sure that you have excess money to buy books, if you do then you will receive a voucher to pay for your books on the Virtual Bookstore online.

I have Oklahoma Promise Tuition Fund. Can I use it to pay my tuition at St. Gregory’s University?

New and returning students with Oklahoma Promise funds need to file a FAFSA in order to receive the funds. Please alert your FA counselor that you have OK Promise.

What if my financial circumstances change?

If your situation is unusual or financial circumstances have significantly changed from the previous tax year, you may submit a Special Circumstances form. If you have questions, contact Financial Aid Services, and we will help you through the process.

What if I have received financial aid and I have to withdraw from school during the term?

If you must withdraw before the end of the semester, the Financial Aid Services will conduct a Title IV return calculation, whereby the amount of aid you have not "earned" during your enrollment must be returned to the program(s) from which it disbursed in accordance with the university’s federally mandated return policy. This amount is jointly shared by the university and the student, and is based on your official withdrawal date or the date on which you last attended class.

Failure to notify the Office of Registrar of your change in enrollment may constitute an earlier withdrawal date than actually occurred if your attendance cannot be properly verified, resulting in a greater return of funds. You will also need to consult the Registrar’s Office Policy of Withdrawal concerning the amount of tuition and fees you are eligible to have refunded. In the event you withdraw after the fourth week of class, you may not receive any refund of tuition.

Be aware that Federal Student Aid may not cover all unpaid institutional charges upon withdrawal. You should take into consideration your financial responsibility to the institution, federal programs and your lender prior to making your final decision.

Please consult Financial Aid Services if you would like to be provided an estimate of earned Title IV Aid and/or amount of return of Title IV aid for which you may be responsible.

Can I receive financial aid even though I am not a degree seeking student?

No, you are ineligible for financial aid as a non-degree student. However, you should contact Financial Aid Services to inquire about alternative loans to pay for the cost of tuition and fees.

Does institutional aid disburse for the summer term?

If you have not used your full year's allocation for student loan funding prior to the summer term, you will be able to apply the excess amount to your summer tuition and fees. Please contact the Financial Aid Services after you have registered for the summer term. Minimum half-time enrollment applies for Direct student loans.

Institutional money, including but not limited to scholarships and grant money, is allotted only for the fall and spring semester.

My grade point average does not meet Satisfactory Academic Progress (SAP). Have I lost my financial aid for the academic year?

Financial Aid Services reviews SAP at the end of every semester. If you are deficient, you will be placed on warning for the following semester.

Freshmen students are required to earn a minimum 1.7 grade point average (GPA); sophomore, 1.9; and junior /senior, 2.0. In addition, you must have successfully completed a minimum of 66.67% of your coursework to maintain adequate academic pace. For example, if you are a freshman with a grade point average less than 1.7 the end of the Fall 2013 semester, you will be placed on financial aid warning for the Spring 2014 semester, and your financial aid will disburse for the spring. At the end of the Spring 2014 semester, SAP is reviewed again. If you have met all of the conditions of your warning period, your GPA exceeds 1.7, and completion rate is above 66.67%, you will be taken off of warning. If you have not met all criteria, you will be placed on financial aid suspension. Your financial aid disbursement for the following Summer or Fall 2014 semester is suspended from disbursing.

Warning periods are at the discretion of the Financial Aid Services. You may be placed on suspension immediately if you fail to earn a grade higher than "F" in all coursework.

However, the university offers you a second chance to make the grade. If there are extraordinary circumstances surrounding your academic performance, you may submit a Petition for Reinstatement to the Financial Aid Office along with any documentation of illness, injury or family emergency if applicable. Your circumstances will be taken into consideration and, if the petition is approved, you will be taken off of suspension and placed on probation for the following semester.

You can also register for summer courses to help improve your GPA prior to the Fall semester. To learn more about the petition process, please review our Satisfactory Academic Progress (SAP) policy and contact the Financial Aid Office if you have any questions or concerns.