All awards to undergraduate students are based on full-time enrollment (12 credits). If you attend less than full time, your financial aid award package will be adjusted based on your credits enrolled. If you attend less than half time (6 credits for undergraduate students), you will not be eligible for any state aid nor for most federal aid, including student loans.
In limited instances, based on Estimated Family Contribution (EFC), undergraduate students may be eligible for a small portion of their federal Pell Grant.
- Financial aid is awarded on a rolling basis until the end of the academic year.
- Recommended deadlines are posted online to ensure students receive state and institutional funding.
- Funding is awarded on a first come, first served basis per defined eligibility requirements and based on federal need.
- The FAFSA must be submitted before financial aid can be awarded. Awards for incoming undergraduate students are processed as estimates without all documents submitted. Upper-class students are not awarded financial aid until the student’s file is complete.
- After the fall and spring term add/drop period and disbursement, financial aid is not adjusted upward or downward unless the student fully withdraws from the term.
Important: Bethany College reserves the right to adjust a student’s financial aid award package at any time if additional information is received that changes the student’s original eligibility. A student’s aid package may be adjusted due to a change in registration, grade level, verification or state/federal legislation.
A Withdrawal may jeopardize the student’s financial aid status. For any student on an approved Withdrawal from Bethany College, a portion of their financial aid may need to be returned to the federal government for the term in which the Withdrawal goes into effect. When financial aid is returned, the student is responsible for repaying to the College any financial aid that was returned as outlined in the Federal Student Aid Handbook, Chapter 1, Volume 5, Withdrawals and the Return of Title IV funds.
The federal formula is applicable to any student receiving federal aid that is approved for a Withdrawal from the college during the first 60% of the term. These students will have their federal financial aid (Pell Grants, Supplemental Education Opportunity Grants (SEOG), Perkins Loans, Direct Loans and Direct Plus Loans) adjusted based on the percentage of the term completed before the withdrawal. In essence, students will be entitled to retain the same percentage of the federal financial aid received as the percentage of the term completed. This percentage is calculated by dividing the number of days in the term (excluding breaks of five days or longer) into the number of days completed prior to the withdrawal (excluding breaks of five days or longer). Breaks are determined based on the academic calendar and are subject to change.
Bethany College must return the unused portion of Title IV federal financial aid to the programs from which the withdrawing student received aid in the following order:
- Unsubsidized Direct Loan
- Subsidized Direct Loan
- Perkins Loans
- Federal PLUS Loans
- Federal Pell Grants
- Federal SEOG
Important Note: While a ‘W’ grade may carry no academic penalty and is not counted in the student’s GPA, a ‘W’ grade is counted as attempted credits and can negatively impact at minimum eligibility for federal and state financial aid. Financial Aid recipients should refer to the Financial Aid Satisfactory Academic Progress Policy.