Additional Information

Satisfactory Academic Progress Policy. The Federal government requires universities to develop and enforce an internal system to monitor the academic progress of aid recipients. A student must maintain Satisfactory Academic Progress (SAP) in order to be awarded and remain eligible for financial aid. The SAP policy includes procedures through which a student may appeal a determination that satisfactory academic progress is not being met. The full SAP text is available at http://www.ulv.edu/financial_aid/ and at the ULV Office of Financial Aid.

Financial Aid Disbursement Schedule. Financial aid funds are disbursed through the Office of Student Accounts. The total amount of financial aid for the academic year is divided among semesters or terms of enrollment for which the student is enrolled. Federal loan funds are distributed in a minimum of two disbursements, even if a student attends only one semester or term. ULV institutional and private grants and scholarships will be credited directly to a student's account at the beginning of each semester/term. Federal and state funds are credited directly to a student's account after the add/drop period for each semester/term.

Disbursement of Federal Stafford and Federal PLUS Loan funds. First-time ULV student borrowers must be officially admitted into a program, enrolled, and complete both a Master Promissory Note (MPN) and loan entrance counseling online at www.ulv.edu/financial_aid before ULV will release the first loan disbursement. Details regarding these requirements are provided to the student in the financial aid award packet. Each semester or term, Stafford and PLUS loan funds are forwarded to ULV either by Electronic Funds Transfer (EFT) or in the form of a paper check. The funds are disbursed after the add/drop period. The net loan amount (gross loan amount - minus the loan origination fee) is forwarded to Student Accounts each semester/term after the student's enrollment and satisfactory academic progress have been verified. If a student is not enrolled at least half time, loan funds will not be disbursed, and will be returned to the lender. The student is responsible for repaying only the amount of student loan funds disbursed.

Timeline for Financial Aid Disbursements.

Cal Grants A & B are disbursed during the first week of classes for traditional undergraduates and after the add/drop period for all other students.

ULV Leo Merit Awards, ULV 1891 Merit Awards, ULV Founders Merit Awards, ULV Trustees Merit Awards, ULV Performance Awards, ULV Named Scholarships, ULV Grants, and ULV Loans are all disbursed after the add/drop period.

Federal Pell Grants, Federal SEOG Grants, and Federal Perkins Loans are disbursed during the first week of classes for traditional undergraduates and after the add/drop period for all other students.

Federal PLUS Loans are disbursed after the add/drop period.

Federal Stafford Loans and Federal Grad PLUS Loans are disbursed 7 days before the start of the term for College of Law and doctoral students, and after the add/drop period for all other students.

Outside Scholarships are disbursed upon receipt of award.

Students must meet eligibility requirements before financial aid is disbursed. Eligibility requirements include, but may not be limited to the following: registering for classes, maintaining satisfactory academic progress, enrolling in the correct number of units, and completing necessary documentation. Financial aid programs are subject to federal, state, institutional, and lender's funding levels. Forms, dates and requirements are subject to change.

Cal Grant B Access Authorization. The Financial Aid Office mails to all Cal Grant B Access recipients an authorization form. A Cal Grant B recipient's "access" portion of the Cal Grant award cannot be applied to his or her student account unless the student completes and submits a Cal Grant B Access Form to the Office of Student Accounts.

Repayment of Federal Loans. Repayment of Stafford Loans begins six months after the student graduates, drops below half-time enrollment status, or withdraws from school. A variety of repayment options and loan assumption programs are available to borrowers, and the information about these options may be obtained from the lender. Repayment information is also available in the financial aid award packet and at the ULV Office of Financial Aid.

Repayment of the PLUS loan begins 60 days after the last disbursement.

Withdrawal from ULV. A student receiving Federal Pell Grants, Federal Perkins Loans, Federal Stafford Loans, and/or Federal Supplemental Educational Opportunity Grants (SEOG) who withdraws from ULV is subject to the Return of Federal Funds provision included in the regulations governing the administration of Federal Student Aid Funds. The determination of the amount to be returned is given on the chart on this page. Any amount established by the Return to Federal Funds provision will be returned to the Federal programs in the following order: