Applying for Financial Aid
Financial assistance may be in the form of a scholarship, grant, loan or work-study and may be classified as institutional, federal, or state, depending on the origination source of the aid. The University of Pikeville offers several institutional scholarships, grants and loans to help students meet their educational expenses. The University also participates in several federal and state programs. All students who wish to be considered for any financial assistance at the University of Pikeville, including institutional scholarships and loans, must follow these outlined procedures:
- Complete the admissions process. A student must be accepted to the University through the Office of Admissions before a financial aid package can be offered.
- Complete a Free Application for Federal Student Aid (FAFSA). To determine financial need with a degree of uniformity, the University of Pikeville requires financial information from the student and, if applicable, his or her parents. The FAFSA serves as the basic application form for Pell Grant, Kentucky Higher Education Assistance Authority (KHEAA) Grants, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Perkins Loan and Federal Work Study. To receive full consideration for these programs, students who are Kentucky residents should complete the FAFSA as soon as possible after January 1 each year by using the "will-file" option and estimate the FAFSA.
Maintaining Financial Aid
To be eligible to continue receiving federal and institutional financial aid, the student must maintain satisfactory academic progress. The rules for maintaining basic financial aid are derived from required federal regulations and can be read here. Students should be aware that a change in course load prior to or during the drop-add period (i.e., full-time, part-time, etc.) may affect the total aid package. Furthermore, tuition adjustments may only be made during the drop-add period.
Rules for maintaining any of the various competitive academic and athletic scholarships are set out in the individual scholarship contracts.
A student is not officially registered for any class until he or she has made a satisfactory settlement with the Business Office for tuition and fees, as well as room and board, if applicable.
Your 2013-2014 Free Application for Federal Student Aid (FAFSA) was selected for review in a process called verification. The law states that before awarding Federal Student Aid, we may ask you to confirm the information you reported on your FAFSA. To verify that you provided correct information, the financial aid office will compare your FAFSA with the information on the appropriate form and with any other required documents. If there are differences, your FAFSA information may need to be corrected. You must complete and sign the appropriate form, attach any required documents and submit the form and other required documents to the financial aid office. We may ask for additional information. If you have questions about verification, contact us in financial aid as soon as possible so that your aid will not be delayed.
All students who withdraw before a semester is completed may be assessed an administrative fee, the lesser of $100 or 5% of total cost, plus any additional fees according to the refund policy as outlined below. Any student who fails to go through proper procedures for withdrawal, or delays official withdrawal, will also be held responsible for charges in accordance with the refund policy.
Unofficial Withdrawal Policy
Once final grades are available for each semester, a report is generated to identify students who have failed all of their classes (including Incomplete and FN grades) and who had received Title IV aid. These students are considered to be “unofficially withdrawn” from the university. These students are sent a letter informing them that a portion of their semester’s financial aid will be returned to the appropriate aid source unless they provide verification of attendance or proof of participation in an academic related activity beyond the midpoint of the semester. Students are given approximately 10 business days for this information to be submitted to our office. R2T4 calculations are completed for all of these students by the Financial Services Department.
If a student submits documentation from a professor or submits documentation of participation in an academic related activity indicating that they completed the course or attended past the 60% date, the documentation is marked as approved and an adjustment is not required to be made to the student’s account. A note is added to a student’s account indicating that acceptable documentation was submitted and that the R2T4 calculation was not required to be performed.
If documentation is not received or what is submitted is not acceptable, the required R2T4 adjustment is completed and the funds are returned to the appropriate aid source. A memo is added to each student’s account detailing the adjustment. A letter and billing statement are sent to the student indicating that the funds are required to be returned and that they now have an outstanding balance due at the university.
Refund Policy/Return of Title IV Funds Policy
Tuition, room and board are refundable for students who withdraw from the University of Pikeville during fall and spring semesters. Room and board charges are prorated by the week based on the number of weeks in residence as established by the residence hall check-out sheet completed by the residence hall director or resident assistant. Tuition is refunded according to the Return of Title IV Funds Policy established by the U.S. Department of Education. Tuition, institutional, state and federal (Title IV) funds will be returned based on the number of days (percentage of period) completed. This percentage will be applied to the total amount of Title IV aid for which the student established eligibility (earned aid) before withdrawing. The amount of earned aid will be subtracted from the amount of aid which was (or could have been) disbursed and the remaining amount will be returned to the respective sources.
There are no refunds for individual classes dropped after the first week of classes.
The University reserves the right to make changes in cost and fees when such changes are deemed necessary by the Board of Trustees.