(A)
Policy
statement
The objective of the university of
Toledo office of student financial aid ("OSFA") is to:
(a)
provide financial
assistance in an equitable and timely manner to students who exhibit financial
need;
(b)
administer non-need awards made to university students
from university and external sources; and
(c)
serve as a
responsible steward of institutional aid and to adhere to fiscal constraints as
determined in the annual budgeting process.
(B)
Purpose of
policy
The purpose of the policy is to define
the limits for the awarding and distribution of institutional aid; to identify
the order in which aid is packaged; and to specify the permissible combination
of various awards. In meeting the objectives in the policy statement, all award
program regulations, guidelines and donor wishes are to be followed. Aid
packaging is to be accomplished as effectively and efficiently as possible
within the constraints of time, resources and outside forces or factors,
frequently beyond office control, such as timing of receipt of funds,
regulation changes, software and data system changes and technology
support.
(C)
Scope
The policy and associated procedures
will address all student types and class levels. It provides guidelines and
clarification for the awarding of all forms of institutional aid, including,
but not limited to merit scholarships, need-based gift aid, talent awards,
endowed scholarships and departmental awards.
(1)
Student
eligibility will be based on the award criteria or donor
guidelines.
(2)
The federal methodology, utilizing the free application
for federal student aid ("FAFSA") will be used to determine the expected family
contribution ("EFC") and the amount of financial need. Awarding priority is
based on a first-come, first-served basis within the limits of available
funding.
(3)
Institutional aid and awards from sources other than
the "OSFA" will be incorporated into the aid package. Potential sources
include, but are not limited to academic departments, "ROTC," intercollegiate
athletics, endowed scholarships, or institutional loans. These awards must
comply with regulations and guidelines of all funds included in the aid
package, including revision of the aid package if necessary.
(4)
Undergraduate
students with a bachelor's degree ("UWD") will not be eligible for merit award
consideration.
(5)
Institutional aid programs are subject to change
without notice; except those in effect for the then current
term.
(D)
Institutional aid limits
A student's degree program, class level
and residency status determines the maximum amount of institutional aid that
can be received. No student may receive from all sources of institutional aid
more than the total of:
(1)
Tuition.
(2)
Out- of-state
surcharge.
(3)
General fee.
(4)
Miscellaneous
fees.
(5)
Room cost in university housing.
(6)
University meal
plan.
(7)
Institutionally approved expenses including but not
limited to "NCAA" and study abroad.
Institutional aid that is awarded
cannot exceed the above total or it will be reduced accordingly. Institutional
aid cannot be used for the cost of consortium coursework at another
institution. If a student is eligible for more than one form of institutional
aid that covers a specific charge, for example, the out of state surcharge, one
of the awards will be reduced by the value of that charge.
Extenuating circumstances based on
economic need or other reasons may be approved by the director of financial aid
or the vice president for enrollment management.
(E)
Study
abroad experience
For institutional aid to be used during
a study abroad experience, all of the following criteria must be in
place:
(1)
The study abroad program must be an approved program
through the center for international studies and programs ("CISP") and
university must have a written agreement with the institution offering the
study abroad program or with an entity representing that
institution.
(2)
University awards academic credit for it and the
student remains concurrently enrolled at the university.
(3)
The study abroad
program must be considered part of the student's eligible
program.
(F)
Order of payment to the student account
The order of payment to the student
account, by fund for institutional aid programs for which students are
confirmed eligible, will occur as follows:
(1)
Benefits earned
and billable to another department including, but not limited to fee waivers,
graduate assistant fee waivers, resident hall advisor waivers, and the
faculty/staff dependent fee waiver.
(2)
Talent awards
such as athletic grants in aid, performing arts scholarships, marching band and
other forms of institutional aid that are awarded based on special
talent.
(3)
Departmental awards, including awards funded by the
university of Toledo foundation and "ROTC" awards.
(4)
Merit
scholarships.
(5)
Need-based merit awards.
(6)
Enhancements,
based on financial need and other factors, after the student has submitted the
"FAFSA" and an accurate "EFC" is determined.
(G)
Eligibility
criteria by student type
(1)
Undergraduate first-time, full-time adult and direct
from high school students would be considered for merit scholarships based on
the programs and awarding criteria active with their first term of
enrollment.
(2)
Undergraduate first-time at the university of Toledo,
full-time transfer students or transfer readmit undergraduates with a minimum
2.0 university grade point average would be considered for transfer merit
programs active with their first term of enrollment or transfer readmit status.
Consideration for the number of eligibility semesters will be based on the
cumulative earned hours from previous colleges.
(3)
The following
student types would be considered for merit programs, if available and they
meet the awarding criteria, with their first term of enrollment:
(a)
International
students (undergraduate and graduate)
(b)
Online students
(undergraduate and graduate)
(4)
College of
law:
Scholarships are awarded by the
college.
(5)
College of medicine:
Scholarships are awarded by the
college.
(6)
Graduate awards
Awarded by various departments and the
college of graduate studies.
(H)
Renewability
Merit scholarship renewability is based
on the student meeting or exceeding the renewal criteria for their award(s) as
defined in the scholarship terms and conditions located atwww.utoledo.edu/financialaid/scholarships
.
(I)
Miscellaneous
For all other scholarship
circumstances, including the stackability of institutional aid programs, review
the scholarship's terms and conditions, located atwww.utoledo.edu/financialaid/scholarships
.
