School of Business Student Financial Services 

General Information 
Every effort has been made to ensure the accuracy of this information at the time of publication. However, due to frequent changes in program regulations mandated by the U.S. Congress, Department of Education, and the State of California, the information contained herein is subject to change without notice.

Financial need is calculated as the difference between the cost of attending college and the expected family contribution. Financial aid is an award from a scholarship, grant, loan, or work opportunity that will assist in meeting this need.

Application Procedures and Deadlines  
Students must complete the Free Application for Financial Aid (FAFSA)* each year to receive financial aid. Undergraduate California residents who wish to apply for a Cal grant must complete the FAFSA* and submit a GPA verification to the California Student Aid Commission (CSAC) by March 2 prior to the academic year of anticipated entrance.
*May be submitted online at www.fafsa.gov.

Financial Aid Vocabulary 
Acronyms and initials are frequently used in discussing financial aid; many appear in this publication. Familiarity with the following terms is helpful when investigating potential financial aid programs:

COA        Cost of Attendance
DL             Direct Lending
EFC          Expected Family Contribution
FAFSA     Free Application for Federal Student Aid
GPA         Grade Point Average
IRS            Internal Revenue Service
FSEOG   Federal Supplemental Educational Opportunity Grant
SAR          Student Aid Report 

Eligibility 
To receive need-based financial aid, a student must meet each of the following conditions:
• The applicant must be a United States citizen, or eligible non-citizen.
• The applicant must have demonstrated financial need according to the current need analysis procedure.
• The applicant must be registered with the Selective Service if the applicant is a male, at least 18 years old, and not a current member of the active armed forces.
• The applicant must be fully admitted and making progress toward an eligible degree or certificate program.
• The applicant must certify non-participation in the unlawful manufacturing, dispensation, possession, or use of a controlled substance.

Outside Funding Sources

Military and Veteran Benefits
The University of Redlands has been designated by the Veterans Administration as one of the qualified institutions veterans may attend and receive benefits under the following U.S. Codes:

• Chapter 30, Montgomery G.I. Bill (MGIB)—Active Duty
• Chapter 31, Veterans and Vocational Training and Rehabilitation Act (VR&E) [Public Laws 894 and 97-815]
• Chapter 32, VEAP
• Chapter 33, Post 9-11 GI Bill and Yellow Ribbon GI Education Enhancement Program
• Chapter 34, Vietnam Era Education Program
• Chapter 35, Dependents Educational Assistance Program (DEA)
• Chapter 1606, Montgomery GI Bill—Select Reserve (MGIB-SR)
• Chapter 1607, Reserve Educational Assistance Program (REAP) 

The University is approved as a Yellow Ribbon School with the U.S. Department of Veterans Affairs. For more information about VA benefit eligibility, contact the U.S. Department of Veterans Affairs at 1 (888) 442-4551 or visit https://benefits.va.gov/gibill/

The University is authorized for the use of Tuition Assistance for qualified Active Duty, Reservist, or National Guard members. Members should contact their units' educational office for more information on eligibility and applying for Tuition Assistance benefits.

For more information on utilizing military or veteran benefits, contact the University of Redlands Military and Veteran Services at  (909)748-8478, military@redlands.edu, or visit www.redlands.edu/military.

Loans

Federal Direct Subsidized Student Loan (Undergraduate Students)
No interest is charged nor is repayment required while the borrower is enrolled at least half-time. For loans disbursed after July 1, 2017, the interest rate is 4.45%. Students will be eligible for this loan if they demonstrate financial need using standards established by the U.S. Secretary of Education. For more information, visit www.redlands.edu/sfs/directs.

EligibilityFull-time and half-time undergraduate students are eligible to apply. Eligibility is determined through needs analysis, documented via the FAFSA form. Eligibility is limited to U.S. citizens and qualified non-citizens. Also, the student must be officially admitted and registered in a degree-seeking program before the loan can be certified.

Loan Limits. Full-time and half-time undergraduate students may borrow up to $5,500 per academic year.* Maximum aggregate Direct Loan amounts for a dependent undergraduate student is $31,000 (up to $23,000 may be subsidized); for an independent undergraduate student, $57,500 (up to $23,000 may be subsidized). Repayment of principal and interest begins six months after leaving school or if enrollment is less than half-time, with up to ten years using standard repayment. Students are not required to begin making payments until the 6 month grace period ends; however, during the grace period, interest will accrue on subsidized and unsubsidized loans. If interest is not paid during the grace period, it will be capitalized. All loans are assessed a loan origination fee on the amount of the loan.

Federal Direct Unsubsidized Student Loan 
This long-term loan is available from the Department of Education. The interest rate on this loan for disbursements made after July 1, 201 is 4.45% for undergraduate students. The interest rate on this loan for disbursements made after July 1, 2017, is 6% for graduate students. The Unsubsidized Loan is similar in terms and conditions to the Subsidized Loan, however, interest begins to accrue on the Unsubsidized Loan as soon as the funds are disbursed and during all eligible periods of deferment and the grace period. The student’s options in handling the interest on the loan are:
1. Pay the interest and principal;
2. Pay the interest quarterly and defer the principal; or
3. Defer the interest and principal until the student goes into repayment. (Interest will accrue while the student is enrolled and in the grace period. Interest will be capitalized to the loan when the student begins repayment.) 

EligibilityFull-time and half-time students are eligible to apply.* Eligibility is documented via the FAFSA form. This loan is available to students who do not demonstrate the financial need necessary to qualify for a subsidized loan.

Loan LimitsFull-time and half-time graduate students may borrow up to $20,500 per academic year. Undergraduate students may borrow up to $12,500 per academic year in total Direct Loan funds. Maximum aggregate loan limits are: for a dependent undergraduate student, $31,000; for an independent undergraduate student (or a dependent undergraduate student whose parent does not qualify for the PLUS Loan), $57,500; for a graduate or professional student, $138,500. *See “Classification of Students” section of this catalog for definition of full and half-time.

Federal Direct Parent Plus Loan for Undergraduate Students
This loan is available to credit-worthy parents of undergraduate students, regardless of income. This loan program allows parents to borrow the difference between the cost of education and the financial assistance the student is scheduled to receive. The interest rate is fixed at 7%. When borrowing through this loan program, please remember that the federal government will deduct 4.264% in fees before funds are disbursed to the University. (For example, if you need to receive a $5,000 credit on your student account for the year, you should plan to borrow $5,223 to cover loan fees.) Further, we always recommend that the amount you request be for the entire year. Fees associated with this loan may be reviewed online at www.redlands.edu/sfs/plus.

Federal Direct Grad Plus Loan
The Grad PLUS Loan (GPLUS) is available to creditworthy students enrolled at least halftime in a graduate or professional program. The loan program is not dependent on income and assets and allows students to borrow the difference between the cost of education and the financial assistance they are scheduled to receive. The interest rate for this loan is fixed at 7%. It is recommended that students maximize their Direct Loan eligibility before borrowing from this program. For more information, visit www.redlands.edu/cdgradplus.

Need-Based Grants

Federal Pell Grants (Undergraduate Students)
This federal grant ranges from $652 to $6,095 for undergraduate students. The award is determined by the amount of the calculated student contribution in relation to the cost of attending the University of Redlands. Eligibility may extend to the period required to complete the first baccalaureate degree. Grants do not have to be repaid. Eligibility is limited to a total of twelve semesters during the pursuit of the first baccalaureate degree.

Eligibility. Undergraduate students with financial need are eligible. Those eligible generally have a low income and limited assets. Eligibility is determined through needs analysis, documented via the FAFSA form, and is limited to U.S. citizens and qualified non-citizens.

Cal Grant A or B (Undergraduate only) 
California resident students must apply directly to the California Student Aid Commission for the Cal Grant by filling out a FAFSA and a GPA verification form by March 2. Forms are available online at www.csac.ca.gov. Cal Grant eligibility is contingent on students and/or parents meeting income and asset requirements.

Federal Supplemental Educational Opportunity Grant (FSEOG) (Undergraduate students) 
This federal grant is intended to assist students who demonstrate a substantial financial need; it is administered by Student Financial Services. Grants can be awarded up to $300 per academic year. A student must qualify for the maximum Pell Grant to receive an FSEOG.

Payment of Financial Aid Awards
All financial aid awards are credited directly to a student’s account at the beginning of each term. If the amount of your aid exceeds the costs billed to your account, a refund will be issued to the recipient in accordance with federal financial aid regulations within fourteen days of when the credit occurs, unless written authorization from the borrower authorizing the credit to remain on the account is received by Student Financial Services.

Satisfactory Academic Progress
All students enrolled in undergraduate degree completion programs or graduate programs through the School of Business must meet the Satisfactory Academic Progress (SAP) set forth by the University of Redlands and the federal government.

Satisfactory academic progress is evaluated on the basis of the number of credits completed and approved degree requirements, as well as the students’ cumulative grade point average (GPA). To receive financial aid at the University of Redlands and maintain satisfactory academic progress, students must meet the following minimum standards when progress is checked after each term.

Pace
All students must maintain a completion percentage 67% or above for their active academic program.

GPA

Undergraduate students — minimum cumulative GPA of 2.0.
Graduate students — minimum cumulative GPA of 3.0.

Time Frame for Completion 
The maximum time frame for completion of a program is 150% of the actual program. As an example, the two-year undergraduate degree completion program must be completed in no more than three years. For students who attend less than full-time, the maximum time frame will be prorated accordingly, based on their attendance.

Review Intervals 
Student Financial Services will review all students receiving financial aid for Satisfactory Academic Progress (SAP) after each term. Students who do not meet the above requirements during any SAP review will be placed on warning for one term. At the end of the warning term, SAP will be reviewed again. Students who are still not meeting the minimum standards will be placed on Financial Aid Suspension. If a student feels they have a reason to appeal for reinstatement, they can submit an appeal and if approved, will be placed on probation for one term.

Appeal Process
Students placed on Financial Aid Suspension who wish to receive financial aid during their term of suspension must return the SAP appeal form along with all supporting documentation within the current payment period to the SAP Review Board in Student Financial Services.

Student Rights and Responsibilities 
The rights and responsibilities of all financial aid recipients as required by federal and state regulations are outlined below. 

What students have the right to know:
• The deadlines for submitting an application for each of the available programs.
• How financial need was determined.
• How much of financial need has been met.
• What resources were considered in the calculation of need.
• What financial aid programs are available and their exact requirements.
• How eligibility for financial aid programs is determined, how decisions on eligibility are made, the basis
for these decisions, and the procedures for appealing decisions if a student has been treated unfairly.
• What portion of financial aid is a loan, and what portion is a grant. If the aid is a loan, you have the right to know the total amount that must be repaid, the amount of each payment, the interest rate, the length of time to repay the loan, and when repayment is to begin.
• What it costs to attend the University of Redlands and what the University’s refund policy requires.
• How the University determines satisfactory progress has been met, and what happens if it is not met.
• What happens if a student withdraws or drops out during the year.

Responsibilities of students:
• You should carefully read all information regarding programs at the University of Redlands
• You must complete all forms accurately and submit them on time to the correct agency or office.
• You should be careful and accurate in completing your application for student financial aid. Errors can result in long delays in your receipt of financial aid. Intentional misreporting of information on application forms for federal financial aid is a violation of law and is considered a criminal offense subject to penalties under the U.S. Criminal Code.
• You must be aware of and comply with the deadlines for application and reapplication for aid.
• You need to maintain good academic standing and make satisfactory progress.
• You are required to report to Student Financial Services if you drop below full-time status.
• You must provide all additional documentation, verification, corrections, and/or new information requested by either Student Financial Services or by any agency to which you submitted an application.
• You have to update information concerning name change, address change, withdrawal, or graduation as they occur. Notify Student Financial Services or any agency that has awarded you funds.
• You must accept responsibility for reading, understanding, and keeping copies of all forms that you are asked to sign.
• You must comply with all applicable policies and regulations when you accept financial aid from any source.
• You should keep track of the total amount of your loans as you go through school so that you have accurate knowledge of the total amount you owe when it is time to begin repayment.
• If you have received a Federal Direct Student Loan or a Federal Direct Loan from Student Financial Services, you must complete an exit interview as required by federal law before graduating, transferring, or withdrawing from the University of Redlands.
• If you receive additional funds from any source, such as outside scholarships, before or after you receive financial aid from the University, you must report the source and value of the award to Student Financial Services. Receipt of additional funds frequently requires an adjustment to the existing financial aid award to avoid an “over-award” as defined by federal and state regulations.

Federal Refund Policy 
Students who withdraw or take a leave of absence from the University during an academic term may receive prorated aid and tuition based on their federally required withdrawal calculation. The withdrawal calculation reevaluates aid eligibility at the time of withdrawal by accounting for “earned” versus “unearned” aid based on the amount of time that has elapsed during the term. There are three steps that the University of Redlands must complete to comply with the federal policy:
1. Determine the withdrawal date.
2. Determine the amount of earned federal aid.
3. Return unearned federal funds to the appropriate program(s). 

The withdrawal date is the date the student gives official notification of his or her intent to withdraw. For the withdrawal to be considered official, the student must provide written notification to the Registrar’s Office after consultation with his or her Student Services Manager. If the student fails to withdraw officially, the applicable date will become the midpoint of the term, unless the University can document a later date. In certain circumstances, if a later date of last academic activity is substantiated, this date can be used in lieu of the midpoint of the term.

Students who withdraw before completing at least 60 percent of the term will “earn” funds in direct proportion to the time they were enrolled. The percentage of earned aid is determined by dividing the total number of calendar days enrolled by the total number of days in the term. Students who complete at least 60 percent of the term are eligible for 100 percent of their federal financial aid.

Unearned aid must be returned to the appropriate programs in accordance with the calculations schedule approved by the U.S. Secretary of Education. Refunds to specific Title IV programs will be made according to current regulations.

Repayment Policy 
If a student withdraws completely or is disqualified, the student will be expected to repay the calculated refund using the federally mandated refund policy guidelines. Failure to repay funds could cause suspension from future participation in any federal financial aid programs.

Allocation of Federal Portion of Refunds After Withdrawal 
If a refund is available under federally mandated refund policy guidelines, students will not receive refunds until all funds representing financial aid awards have been returned to the respective financial aid programs as required by federal regulations. The federal portion of the refund will be allocated in the following order:
1. Federal Direct Student Loan
2. Federal Direct PLUS Loan (includes grad Direct PLUS)
3. Federal Pell Grant
4. Federal SEOG
5. Other Title IV Assistance 

Appeal Process
Any student wishing to appeal a financial aid decision must do so in writing to the University of Redlands, Student Financial Services.

Uniform Crime Reporting 
For information regarding compliance with federal regulations on uniform crime reporting, please refer to the Legal Statements section of this Catalog.

Drug-Related Convictions and Student Ineligibility 
Title IV financial aid eligibility is suspended for students convicted of violating State or Federal drug possession or sale laws that occurred during a period of enrollment for which a student was receiving Title IV aid. 

For drug possession convictions, eligibility is suspended:
• one year for the first offense,
• two years for the second offense, and
• indefinitely for the third offense. 

For drug sale convictions, eligibility is suspended:
• two years for the first offense, and
• indefinitely for the second offense.

A student’s Title IV financial aid eligibility may be resumed before the end of the ineligibility period if:
• the student satisfactorily completes a drug rehabilitation program which complies with criteria established by the Secretary of Education and such a program includes two unannounced drug tests; or
• the conviction is reversed, set aside, or otherwise removed from the student’s record.

Information and Assistance 
For further information about financial aid or for assistance in completing any of the application forms, write: Student Financial Services, University of Redlands, P.O. Box 3080, Redlands, CA 92373-0999; or call Monday through Friday, 8:00 a.m. to 5:00 p.m., at (909) 748-8047 or contact them at sfs@redlands.edu.