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In accepting your Financial Aid Offer, you are certifying you understand and agree to the following terms. Please read carefully!
- You Have a Right to Know! Consumer Information can be reviewed at ashland.edu/consumer-information.
- The University reserves the right to revise any portion of this Financial Aid Offer.
- It is important families report any changes in financial, marital, or academic status to the Financial Aid Office.
- Your financial aid is offered based on your enrollment (registered credit hours) and housing status. Please notify the Financial Aid Office of any enrollment, housing status, or meal plan changes to be sure your offer is accurate. Students who enroll part-time or do not pay the comprehensive tuition rate are not eligible for AU gift aid. Undergraduate students attending main campus must be officially approved to live off-campus through the Residence Life Office.
- AU academic and/or athletic awards are partially funded by endowed scholarships. If you are selected for an endowed scholarship, you may see a portion of aid replaced by a named endowed scholarship with no increase in total gift aid.
- Financial Aid Offers are not automatically renewed. You must meet satisfactory academic progress (SAP) standards and successfully reach all conditions required for full AU academic scholarship renewal. You also must complete a FAFSA each year to be considered for federal, state, and/or AU need-based aid and meet certain enrollment requirements for some types of aid.
- SAP POLICY. Receipt of this and future offers is contingent on your maintaining satisfactory academic progress. Ashland University’s Financial Aid Satisfactory Academic Progress Policy is available online in the AU Catalog and at ashland.edu/consumer-information. It is the student’s responsibility to be aware of and meet the academic standards outline in this policy.
- OUTSIDE SCHOLARSHIPS/GRANTS/LOANS. You must inform the Financial Aid Office of any additional resources that are or become available including grants, scholarships, or loans. Notification should include (whenever possible) a copy of official documentation including the award name, amount, and number of years the student will receive the award. Per AU policy, aid from outside sources will be added to the student’s financial aid package, and if necessary, federal work-study or need-based student loans may be adjusted.
- FEDERAL WORK-STUDY. If eligibility is included on your offer, you may earn up to the amount listed through a work-study position on campus. You must apply for and secure a work-study job. Most positions pay minimum wage, and the amount you earn is based on hours worked. More information is available at ashland.edu/student-employment.
- OHIO COLLEGE OPPORTUNITY GRANT. You must meet Ohio residency requirements and file a FAFSA by October 1 of the current aid year. The Ohio Department of Higher Education determines eligibility. Visit ohiohighered.org for details.
- FEDERAL DIRECT LOANS. The Federal Direct student loans listed on your offer letter will be automatically processed for you as long as you have completed a Master Promissory Note and Loan Entrance Counseling at studentaid.gov. You also need to complete the Annual Student Loan Acknowledgement at studentaid.gov. If you wish to reduce or decline your federal loan(s), notify Financial Aid in writing at firstname.lastname@example.org.
- PRIVATE EDUCATIONAL ALTERNATIVE LOAN. You (the student), parents, and in some cases, other interested parties can apply for a loan through a private bank or lender to help cover your educational expenses. Individuals can borrow up to the student’s cost of attendance minus other financial assistance received. Visit ashland.edu/student-loans to start your search for and apply for a private loan. This is not a full list of possible lenders, but a resource to start your search.
- FEDERAL PARENT PLUS LOAN (Parents of dependent students only). Parents, using their FSA ID, should log on to studentaid.gov to apply, review interest rate information, and terms of repayment. New Federal Parent PLUS Loan borrowers must also complete a Master Promissory Note.
- PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AWARD. You must meet Pennsylvania residency requirements. The PHEAA Commission determines your eligibility. Visit pheaa.org for more information.
- GIFT AID AND/OR BENEFITS. The sum of your gift aid and/or benefits (i.e., veteran’s benefits) from any source may not exceed the direct costs (tuition, general fees, housing, and meals) charged by Ashland University. The sum of all assistance, including gift aid, loans, and student employment, may not exceed the total student budget assigned by the University. AU will abide by federal regulations to ensure specified aid does not exceed a student’s demonstrated financial need, and AU reserves the right to revise any offer on which an error has been made.
- WITHDRAWING FROM THE UNIVERSITY. If you completely withdraw from the University during a term, your repayment of aid received will be determined based on AU’s Withdrawal and Refund Policy. The policy is available in the AU Catalog and online at ashland.edu/financial-aid/policy-statements.