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Aid Adjustments

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Financial Aid

Aid Adjustments

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Your financial aid may be adjusted if you receive additional aid that is not listed on your award letter. Federal and state regulations require that a student’s total aid cannot exceed the cost of attendance. When adjustments to financial aid are necessary because of the receipt of outside sources, the University will adjust aid in the following order: (1) loan, (2) work-study, (3) scholarship, and (4) grant.

Other reasons for adjusting aid include:

Verification: The US Department of Education and Kean University select particular applications for verification. Verification involves “validating” certain information listed on the FAFSA by having a student and parent(s)/spouse submit a copy of their federal tax return and other documents. If you are a new freshman or transfer student and your application has been selected for verification, your award(s) will be “estimated." To complete the verification process you will need to submit certain documents that will be, or have been, requested by the Office of Financial Aid. After these documents have been received and reviewed, your award will be finalized and a new award letter will be mailed to you. Continuing students will not receive a financial aid package until all requested documents are submitted and verification has been completed.

Enrollment Status: Your grant and/or scholarship award(s) are initially based on full-time enrollment (12 or more credits for undergraduates & 9 for graduates per semester). If your status drops from full to part-time status within the first week of classes, your award(s) may be adjusted. For example, if you drop from 12 to 9 credit hours during the first week of classes and have a TAG, this award will be cancelled. During the same period if you have a Pell Grant, this award will be prorated. Additionally other awards may be subject to reduction.

Dropping/Adding Classes: Dropping and/or adding classes can affect the amount of financial aid a student receives, and in some cases can result in cancellation of financial aid. Therefore, when dropping or adding classes, it's important for the student to check with the Office of Financial Aid to determine whether his/her financial aid will be affected.

Withdrawal from all Classes: The University is required by Federal and State regulations governing financial aid programs to calculate the amount of aid that was actually earned during the time you were actually enrolled. This calculation is done within thirty (30) days of withdrawal from the University. You will be notified of adjustments to your financial aid. Adjustments may result in an amount owed to the University.

Third Week Attendance Policy: The University adopted a policy to monitor the enrollment of students receiving financial aid. Students who are not attending a class for which they are registered will have their financial aid reduced. Registration credits will not be adjusted to reflect non-attendance.

You request a reduction in aid: A student may choose not to accept, or may wish to reduce, a particular type of aid offered by the University. For example, you may decide to reduce or fully cancel a loan or work-study award. To initiate this reduction or cancellation you need to request the form from the Office of Financial Aid. The form should be completed and returned to a representative at the Office of Financial Aid.
 
Repeating Coursework & Aid Adjustments
For purposes of receiving financial aid, students are allowed to retake a previously “passed” course one additional time and still maintain eligibility for funding. The definition of passed, as it pertains to this policy, means any grade higher than an “F." 

A student may be eligible for financial aid when repeating failed courses. Note that the normal Financial Aid Satisfactory Academic Progress policy will still apply in these cases.

If a student withdraws before completing the course that he or she is retaking and receiving financial aid for, then that course is not counted as the one allowable retake for that course.

If a student passes a class once and again receives financial aid for retaking it but fails the second time, that failure counts as the paid retake, and the student cannot be paid for retaking the class a third time.

Financial Aid
For the full financial aid site, please click here.

 

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