Financial Aid

Many students' family resources are insufficient to meet the cost of a college education without special assistance. The Office of Student Financial Assistance and Planning and the Student Aid and Awards Committee of the faculty attempt to identify such students and arrange assistance for them consisting of scholarships, grants, loans, and work opportunities.

 

About 60 percent of Guilford College students receive need-based financial assistance (averaging $23,185 in 2006-2007); another 32 percent receive other financial assistance, such as merit awards or entitlements. All students benefit from income from endowment funds, since tuition and other expenses are set below actual costs.

 

Basis of Awards
In granting or renewing financial aid, the Student Aid and Awards Committee takes into consideration both satisfactory academic performance and financial need, according to the terms of the particular scholarships available. Financial aid may be continued for students placed on academic probation. However, financial aid may be terminated unless a C (2.00) average is earned during each term of academic probation. Note: Financial aid based on need is not automatically continued but must be applied for each year.

 

Application for Awards
Guilford evaluates financial need by the Free Application for Federal Student Aid (FAFSA). Completed FAFSA applications must be submitted to the government or a copy submitted to the Student Financial Assistance and Planning Office at Guilford College by March 1 for new students and May 1 for continuing students.

 

Forms may be obtained from a high school counselor or directly from Guilford College's Student Financial Assistance and Planning Office. FAFSAs may be filed online at www.fafsa.ed.gov or by going to Guilford's website at www.guilford.edu, clicking on Financial Aid, scrolling down the page and clicking on "Complete your FAFSA online!" The Guilford College Federal School Code is 002931.

 

Applications for scholarships and other financial assistance, or requests for additional information, should be addressed to:

 

Guilford College
Office of Student Financial Assistance and Planning
5800 West Friendly Avenue
Greensboro, NC 27410
(336) 316-2354

Scholarships

 

Honors Scholarships
The college awards up to 30 Honors Scholarships at $2,500 each to students in each entering class. They are renewed for each of the four normal years of study, provided an overall grade-point average of 3.00 or better and full-time status is maintained. Honors scholarships are awarded to selected Presidential and Achievement Award recipients.

 

Presidential Scholarships
Incoming first-year students who have demonstrated outstanding leadership during high school are eligible for renewable Presidential Scholarships of $10,000 a year. Leadership criteria include achievement in areas such as the arts, civic affairs, student government, or student publications. Minimum academic qualifications include a cumulative SAT score of 1100 (or ACT equivalent). Financial need is not a criterion. Continued eligibility beyond the first year depends on maintaining a grade-point average of 3.00 or better.

 

Guilford College Achievement Awards and Incentive Grants
First-year students and new transfer students are eligible for these awards. Students who may not meet the academic criteria for Presidential Scholarships or Honors Scholarships, but who possess superior extra-curricular activity records, are eligible. Awards are in the amount of $6,500 per year and require a 2.75 GPA to maintain. Incentive Grants are awarded at $4,000 and require a 2.50 to maintain. Both awards and grants are renewable for a total of eight semesters.

 

Corella and Bertram F. Bonner Scholarships

Guilford College was selected by the Corella and Bertram F. Bonner Foundation in 1991 to be one of 11 liberal arts colleges to participate in a scholarship program funded by the foundation. Fifteen first-year students, ranking in the top 40 percent of their high school classes and qualifying for a high level of financial assistance, are awarded scholarship funds to replace work-study in their financial aid packages. In exchange for the scholarship, students participate in a variety of tutoring and other community service programs which must include summer program options. Eligible students must meet the established March 1 financial aid deadline.

 

See Chapter XIV for scholarships available to students already enrolled.

 

Aid for Quaker Students

 

To the extent that restricted Quaker funds are available, Guilford College follows the guidelines below for financial aid to Quaker students and ministers.

 

Quaker Leadership Scholarship Program
In an effort to recognize leadership potential among young Friends and to cultivate that potential, Guilford College offers an average of eight to 10 Quaker Leadership Scholarships to each entering first-year class. Scholars are selected on the basis of interest in the Religious Society of Friends, leadership, and academic potential.

 

Students selected as Quaker Leadership Scholars receive financial awards ranging from $2,000 to $3,000 per year, renewable for four years. Selected QLSP recipients may apply for the "Sojourners" program after their first year. Sojourners undergo a more intense series of self-examinations and program requirements. Their financial aid award is also increased to range between $4,000-$5,000 based on financial need. In addition, the college will award another $500 per year if matched by the student's monthly meeting or other Quaker agency. Quaker Leadership Scholars must participate in a variety of program activities that include mentoring, community service, internships, Quaker studies courses, and involvement in campus groups. The program is coordinated through the Campus Ministry Office and Friends Center.

 

Aid for Quaker Ministers
Recorded Quaker ministers serving North Carolina Friends Meetings who are degree-seeking students are eligible for financial assistance equal to the cost of full tuition up to and including 18 credits per semester. If the student attends college full time and receives the North Carolina Legislative Tuition Grant, the amount of Quaker funds will be reduced accordingly.

 

Aid for Quaker Ministry Candidates
Candidates for Quaker ministry may qualify for up to $1,000 per year in loan/grant funds, according to need, if the sum awarded is matched by an equal contribution from the student's monthly, quarterly, or yearly meeting or a combination of these. If, after leaving Guilford College, the student is employed full time in a professional capacity in North Carolina Yearly Meeting, s/he may have the loan canceled on a proportionate basis. Applications should be made to the Director of Student Financial Assistance and Planning.

 

Aid to North Carolina Residents

 

To qualify for North Carolina State grants, a student must have established legal residence (domicile) in North Carolina and maintained that legal residence for at least 12 months immediately prior to the beginning of the semester. Grants are not available for students who have earned a bachelor's degree or have qualified for such a degree.

 

North Carolina Legislative Tuition Grant (NCLTG)
During the 2005-2006 academic year, $1800 was credited to each full-time North Carolina student's account. Need is not a determining factor. The student must be an undergraduate enrolled for 12 or more credits on October 1 for the fall term and on the 11th day of the spring term. Guilford matches for all traditional students the NCLTG, using funds from specifically targeted funds.

 

North Carolina State Contractual Scholarship Fund
The State of North Carolina provides scholarship assistance to needy North Carolina students attending private post-secondary institutions. During the 2005-2006 academic year, over $1,495,950 was distributed on the basis of need to Guilford College students from North Carolina.

 

The Guilford Opportunity Alternative Loan (GOAL)
The Guilford Opportunity Alternative Loan is available to high-need North Carolinians as an alternative to borrowing from multiple Federal loan sources. Recipients who qualify for this loan alternative can borrow up to $7000 per year and have 35% of their total loan canceled upon graduation if they graduate in eight semesters with a cumulative grade-point average of 2.65 or better.

 

Federal Grants and Loans

 

Guilford College administers the Federal Pell Grant Program. The amount of each grant ranges from $400 to $4,050 and is determined by a congressionally approved schedule. Application for a Pell Grant is made via the Free Application for Federal Student Aid.

 

The Federal Supplemental Educational Opportunity Grants (FSEOG) are available for students from low-income families with exceptional financial need who require these grants to attend college. Grants range from $200 to $4,000 a year, depending on need, for a maximum duration of four academic years.

 

The Federal Perkins Loan Program offers loans to be repaid within 10 years with an interest rate of five percent. Payments begin six months after the student leaves school. Deferments may be granted with no interest to be charged for up to three years for a variety of postgraduate study and working experiences.

 

Federal Stafford Student Loans
Guilford College participates in the Federal Stafford Student Loan Program. Federal Stafford loans are federally funded and insured. A completed Free Application for Federal Student Aid serves as the official application for a Federal Stafford Student Loan. If a Federal Stafford loan is awarded, it will be included on the Financial Aid Award and Agreement and an official Promissory Note will be issued. In order to receive the loan, simply sign and return the award letter and complete and return the Federal Direct Student Loan Promissory Note. Once the College's designated loan servicer receives these documents, the loan proceeds will be requested by the college from the lender selected by the student borrower. Funds will be transferred electronically to your tuition account. In instances where students are due a refund, a college check will be issued.

 

Unsubsidized Federal Stafford Student Loan
One version of the Federal Stafford Student Loan is based on need while another,  the Unsubsidized Federal Stafford Student Loan, is not. Once the office has determined eligibility for either of these loans and indicated so in an award letter, the above-referenced letter and Promissory Note must be returned. If the award of either of these loans is declined, simply indicate the rejection of the loan on the signed award letter or the Stafford Loan Information Sheet, initial the change, and return to the Office of Student Financial Assistance and Planning. The Office will remove any reference to the loan(s), and the Business Office will not anticipate any funding from these sources.

 

Work Opportunities

 

Guilford College operates a Student Employment Service to assist students who need to work while in school. Placements are made in a variety of jobs, both on and off campus.

 

The college also administers a federally funded work-study program as well as an institutionally funded work program for which students may qualify on the basis of need.

 

Part-time work is available in the library, cafeteria, offices, laboratories, physical education center, and maintenance area.

 

Satisfactory Academic Progress Policy for Financial Aid Recipients

 

Revised: September 20, 2001

Guilford College seeks to provide a high quality educational experience for all who choose to benefit from this opportunity. Guilford College is committed to extending all possible resources in pursuit of this goal. However, students have responsibilities in regard to their educational pursuits. These responsibilities include, but are not limited to, the completion of course work in a reasonable time and with a quality of performance that meets accepted grade point standards. These benchmarks are described in detail below.

 

In compliance with appropriate Federal regulations, Guilford College adheres to policies stated herein for determination of Satisfactory Academic Progress compliance relative to eligibility for financial aid. This includes federal, state, and institutional funds. Certain academic awards and some endowed scholarships may require higher academic performance than this Satisfactory Academic Progress (SAP) policy. Students must be maintaining Satisfactory Academic Progress before financial assistance can be awarded.

 

Satisfactory Academic Progress Policy Defined

A Guilford College student is maintaining Satisfactory Academic Progress towards the completion of a degree if he/she is meeting standards according to the following measurements:

1. QUALITATIVE MEASUREMENT OF ACADEMIC PROGRESS

   GPA of 2.0 or greater after two or more semesters of enrollment. GPA of greater than 1.0 after first term of enrollment.

   Academic Probation. A Guilford College student will be on academic probation if the cumulative grade-point average is below the level required for graduation: 2.00. Students placed on academic probation are not allowed any unexcused absences from classes. Their eligibility to continue at Guilford College is contingent upon earning at least a C (2.00) average during each term of academic probation. Earning a C average during a given term may not remove a student from academic probation, but it will assure eligibility to continue at Guilford. Failure to meet the conditions of academic probation will result in suspension or dismissal. Academic probation is not considered a punitive measure, but rather an indication that the student needs to make greater effort. Students on academic probation are advised to seek special counseling from their academic advisor, staff of the The Learning Commons, or from the Student Life staff to help surmount difficulties that might lead to suspension or dismissal.

   Academic Suspension or Dismissal. If a student fails to attain a term average of C while on academic probation, the student will either be suspended for an academic year or dismissed for academic deficiencies. Students recording a 1.00 or lower grade-point average during the first semester at Guilford will be suspended or dismissed without a probation period. Suspended students may apply for readmission through the Associate Academic Dean after their suspension period. The Associate Academic Dean has the authority to readmit students whom the college has previously dismissed. If they are readmitted, students who have been suspended or dismissed return on academic probation. These students may become eligible again for financial aid; the returning student must file an appeal with the Student Aid and Awards Committee. Similarly, readmitted students are permitted to resume athletic participation if all eligibility standards are met.

   Disciplinary Suspension or Dismissal. The Student Handbook outlines rules and regulations for disciplinary suspension or dismissal.

2. QUANTITATIVE MEASUREMENT OF ACADEMIC PROGRESS

   1. Successful Completion of 66% of Hours Attempted for Academic Credit
      In order to maintain Satisfactory Academic Progress a student must successfully complete with a grade D- or better at least 66% of all hours attempted for credit. At the end of each term, all enrolled students' credentials will be reviewed for compliance with this requirement. Any class enrolled in for which the student does not receive a 100% refund when withdrawing will be considered "attempted hours" for purposes of this policy. Any student who does not pass at least 66% of these attempted hours will be placed on financial aid probation. These students will be allowed to continue to receive financial assistance during the next term of enrollment. Students failing to meet the 66% threshold during this probationary term will not receive financial assistance in the subsequent term. Students on probation who meet the 66% threshold will continue on probation and eligible for assistance. Upon reaching a cumulative mark of hours passed equal to or greater than 66% students will be removed from Satisfactory Academic Progress probation.

   2. Maximum Time-Frame for Degree Completion
      Students are expected to enroll and satisfactorily complete the required number of credit hours for completion of their chosen degree. Federal regulations limit the maximum time frame for receipt of financial assistance to no more than 150% of the length of the academic program. Students are allowed to "attempt" a total number of credit hours not to exceed 150% of the total credit hours required for completion of their program. (At Guilford this regulation limits eligibility to 190 attempted hours. If a student exceeds this regulatory limitation, financial assistance will be discontinued.

      Maximum allowable credit hours attempted includes all terms of enrollment at Guilford College:

      • Semesters during which students are not maintaining Satisfactory Academic Progress;
      • Semesters during which students are enrolled for less than half-time;
      • Semesters during which students do not receive financial assistance

   Note: All credit hours for which students enroll for credit during any term of enrollment are included as "attempted hours", whether or not the student successfully complete the course or officially withdraws. (Exception: Courses which a student drops and receives a 100% refund are not included in "attempted hours").

   Satisfactory Academic Progress will be evaluated on an academic year basis for determination of eligibility for assistance for the next academic year. Students on Satisfactory Academic Progress probation will be evaluated at the end of each semester or summer school term.

Reinstatement of Financial Aid Eligibility

Should a student have his or her financial aid eligibility revoked due to this policy, termination will continue until the student completes one full-time semester or the equivalent, without benefit of financial assistance, to reach the required performance threshold. Once satisfactory progress is achieved, eligibility may be re-instated for the next term. A student should request reconsideration of aid when he/she has met the satisfactory academic progress definition. Re-instatement of aid will depend on the type of funds requested and the availability of funds.

General Information

1. Transfer students: Transfer credits from other institutions are not used in determining satisfactory academic progress;

2. Incomplete Courses: Credits of incomplete courses are counted in the number of attempted hours and GPA calculations;

3. Course Withdrawals: W's are not considered in computing grade point averages. They are counted in attempted hours;

4. Withdrawal from the College: When a student withdraws from Guilford with grades of W in all courses, these courses will be counted in the number of attempted hours;

5. Audited Courses: Because students do not receive credit for audited courses, these courses are not counted as hours attempted or completed. (Financial aid is not awarded for classes taken on an audit basis);

6. Grades: In evaluating coursework for Satisfactory Academic Progress compliance, all coursework attempted for academic credit for which tuition charges are assessed will be counted in the number of attempted hours to determine the pass-rate percentage. All grades will be included in measuring the pass-rate, including W, WP, WF, F, and XF;

7. Re-admitted students: Students who return to Guilford College after an absence of one semester or more will have their Satisfactory Academic Progress status continued;

8. Enactment of Policy: This updated Satisfactory Academic Progress policy became effective with the 2001-2002 academic year. The policy will be reviewed periodically to determine its effectiveness and compliance with Federal regulations.

Appeals of Financial Aid Termination Due to SAP Non-Compliance

To appeal financial aid termination a student must be able to demonstrate unusual circumstances affecting his/her academic performance.

1. A student must appeal, in writing, to the Director of Student Financial Assistance and Planning. This written appeal must include the reason(s) why the student did not make satisfactory academic progress and why financial assistance should be re-instated. This written appeal must be received in the Office of Student Financial Assistance and Planning within thirty days of the date of the letter of notification to the student informing the student of the termination of eligibility. Any pertinent documentation relative to the student's appeal is recommended.

2. The Director will review the appeal. This review should take place within three days of receipt of the letter of appeal. The Director will notify the student, in writing, of the decision and the reason for the ruling.

3. A student wishing to appeal the decision of the Director may do so, in writing, to the Associate Dean of Enrollment who is required to take this second appeal to the Student Aid and Awards Committee. This appeal must be received by the Associate Dean within ten days of the date of the letter in response to the first appeal.