American University (AU) is pleased to present you with the terms and conditions of your Financial Aid Award. Please read the following information carefully.

 

You are required to sign your award notice online at http://myau.american.edu or sign and return a paper award letter to the Financial Aid Office. By signing your award notice, you acknowledge that you have read and understand the terms and conditions of your award.

Undergraduate Merit-Based Aid

AU’s financial aid program is designed to assist you in completing your program of study. Merit-based aid requires full-time enrollment, is tuition restricted and only covers courses applicable to your undergraduate degree. Scholarships are awarded to incoming freshmen for (up to) 4 years/8 semesters and to incoming transfers for (up to) 2 years/4 semesters. The aid does not cover graduate study. Students admitted to a BA/MA program may not receive undergraduate merit-based aid for course work that solely applies to the graduate degree program. Students (not BA/MA) who require additional time to complete undergraduate degree requirements may be eligible to receive aid from federal need-based grants and loan programs.

Merit Award Renewal Requirements

Undergraduate merit-based awards require full time enrollment, completion of 2/3 of all attempted credits and a cumulative GPA of 3.0. Completion of less than 30 credit hours per academic year may result in a ninth and/or tenth semester of undergraduate study.

Graduate Merit-Based Aid

All merit-based graduate funds (including Assistantships, Fellowships, Stipends, etc) are awarded by the schools/colleges or other administrative units. Questions concerning these funds should be directed to the academic or administrative unit which made the award. The Financial Aid Office is not responsible for the awarding of these merit-based funds.

University Grants/Scholarships

Many university awards, including but not limited to, AU Grants, National Merit, Presidential and Dean’s scholarships, Methodist Scholarships, Employee Tuition Remission, Tuition Exchange, and Sponsored Billing may be applied against tuition charges only. Therefore, any combination of these funds cannot exceed the cost of tuition. You may not receive two institutional scholarships concurrently. To retain University grant/scholarship funding, full-time enrollment is required.

Minimum Credit Hour Requirements

In order to maintain eligibility, you must be enrolled for the minimum credit hours as regulated by the aid program. In general, federal aid programs require half-time enrollment of at least six credit hours per semester for undergraduate and five credit hours per semester for graduate students. In general, state and institutional aid programs require full-time enrollment (twelve credits hours per semester for undergraduate students and nine credit hours per semester for graduate students). Only courses applicable to the eligible degree program may receive aid.

Duration and Renewal of Need-Based Aid

Recipients of federal and institutional need-based aid are required to reapply each year by filing a FAFSA/Renewal FAFSA and submitting all other supporting documentation by the published deadlines. Applicants’ eligibility for need-based aid are reevaluated each year. Need-based grants are for undergraduate study and may not exceed ten semesters. The aid does not cover graduate study. Students must satisfy all terms and conditions of their respective awards and meet Satisfactory Academic Progress (SAP) requirements as detailed in the AU Catalog.

Changes In Enrollment

You must immediately notify the Financial Aid Office in writing of any changes in your enrollment as this could result in adjustments to your financial aid award. AU grants and merit scholarships require full-time enrollment.

Revisions/Verification

Estimated financial aid awards are based upon the information you originally submitted to our office. Additional documentation may be required for verification purposes. Verification of the information you submitted may result in adjustments to your award.

Other Resources

If you are receiving assistance not currently reflected on your financial aid award, it is your responsibility to notify the Financial Aid Office. Your award may be adjusted or canceled as a result of receipt of outside assistance.

Entrance and Exit Counseling Sessions

You must satisfy the entrance counseling requirement before any Federal Student Loan funds will be credited to your student account. Failure to comply with this requirement may result in the revocation of your student loan award. Additional information regarding this requirement is available in your admissions packet and on the Financial Aid Web site at www.financialaid.american.edu. You must also complete an exit counseling session upon graduation or before dropping below half-time status.

Refund Policy

You are required to read the AU Refund and Repayment Policy included on our website at http://www.american.edu/financialaid/withdrawals.cfm.

General Information

• This is an award offer and additional requirements such as promissory notes, entrance counseling, and additional documentation must be satisfied before any funds will be released to your account.
• Awards of federal aid (Federal Perkins Loan, Federal Work-Study, Ford Federal Direct Stafford Loan) are contingent upon: a) authorization and appropriation of funds for each program by the federal government under existing regulations; b) your enrollment in a degree program at AU, and c) your citizenship and other status compliance.
• AU reserves the right to revise awards in the event of miscalculations or clerical errors.
• By signing your award notice, you authorize the manual or electronic application of funds to your individual student account and acknowledge that this authorization is valid for the award year. All funds will first be applied to any existing charges such as tuition, room and board, and any other expenses related to your attendance at AU.
• Your financial aid will not disburse to your student account until you have met enrollment requirements.
• Financial aid awarded for a specific semester may only be used for charges that occur during that semester.
• If your financial aid award is reduced, it is your responsibility to pay the difference between aid awarded and costs incurred.
• Upon notification from the Financial Aid Office, it is your responsibility to immediately return any disbursed financial aid for which you have become ineligible.
• You have the right to cancel disbursements within a specific time-frame under the policy/procedures identified by the Financial Aid Office and the Student Accounts Office.
• Your financial aid award cannot exceed your cost of attendance. If you are receiving a combination of federal, state, institutional assistance and/or outside loans, you are subject to the cost of attendance guidelines.