:: FINANCIAL AID PROCESS POLICY ::
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Policy Title :
FINANCIAL AID PROCESS POLICY
Policy Number :
III. D - 2
Responsible Party :
Student Affairs
Effective Date :
02/12/2013
Revised Date :
09/05/2018

Purpose

Structured policies define the application and renewal process for available grants and scholarships programs at PMU.

Statement :

1.      Financial Aid Process

1.1              The Dean of Enrollment and Registration and the Vice Rector of Academic Affairs will appoint the members of the committee which will select scholarship recipients. The scholarship committee will consist of two faculty members each from the Preparation Program, the College of Engineering, the College of Information Technology, and the College of Business Administration. At the discretion of the Dean of Enrollment and Registration and the Vice Rector for Academic Affairs, an additional member may be added to represent the Department of Interior Design. It also will include the Director of Student Financial Aid and the Director of Enrollment Management. The two directors will be non-voting ex-officio members of the committee;

1.2              The process will be as follows:

1.2.1                    The Applicant must complete the Financial Aid application available          on PMU website (please check attachment);

1.2.2                    The applicant collects needed documents;

1.2.3                    The applicant  submits application to the Financial Aid Department;

1.2.4                    Application verification by Financial Aid Department;

1.2.5                    Conduct an interview (parents/guardian may be involved);

1.2.6                    Committee deliberations;

1.2.7                    Award/rejection notification (please check attachment);

1.2.8                    Regular evaluation and annual assessment (renewal/suspension) of             financial aid

2.      Satisfactory Academic Progress for Financial Aid Renewal

Students will be eligible for scholarship renewal as long as they remain enrolled at PMU, maintain the required GPA and are not guilty of misconduct. Students found guilty of providing misleading information to the university will be disqualified immediately.

The minimum standards of “Satisfactory Academic Progress” towards continuing students who are receiving financial aid include:

2.1              Satisfactory Academic Standing

2.1.1                    A student is required to maintain a minimum cumulative GPA of 2.0 on a 4.0 scale. For preparatory students only courses with an "A, B, and C" will be accepted in their preparatory year on an "A" to "F" scale.

2.2              Satisfactory Enrollment Status

2.2.1                    Students are expected to complete minimum 12 credit hours every term, except for any prior approvals for less than that.

2.3              Evaluation Period

Student’s academic progress will be monitored at the end of each academic term.

2.3.1                    Financial Aid Probation

2.3.1.1              If a student fails to meet the above minimum satisfactory academic standards, the student will be notified in writing (as per the attachment), and will be placed on Financial Aid Probation for the next term of enrollment. During the probationary term, the student will remain eligible for financial aid;

2.3.1.2              If the student meets the minimum standards at the end of the probationary term the student is then removed from probation.

2.3.2                    Financial Aid Suspension

2.3.2.1              If at the end of the probationary term the student again fails to meet the minimum standards, the student will then be notified in writing (Financial Aid Suspension notice) and placed on Financial Aid Suspension and cannot receive the financial assistance afterwards.

2.3.2.2              Note: academically suspended students are automatically suspended from financial aid.

2.3.3                    Financial Aid Suspension Appeal

2.3.3.1              Students who are suspended from financial aid may submit a written letter of appeal if they provide strong reasons that may allow them to receive their award again.

2.4              Leave of Absence

2.4.1        All students are expected to complete a written leave of absence application before the beginning of a semester stating a reasonable verified cause to postpone their semester; approvals will be given accordingly.

2.4.2        Awards will be at risk of suspension if student did not return on the stated date in the Leave of Absence Form.

2.5              Course Withdrawal

2.5.1        Any student who withdraws from all classes without prior approval will have his or her financial aid eligibility suspended until the students meets his/her financial aid advisor.

2.6              Change of Major

2.6.1        Change of major will not be accepted without prior approval from the Financial Aid Department. The Department will verify the validity of the change of major versus the availability of the scholarship for the new major.

3.      Scholars Rights and Responsibilities

3.1  The scholarship is determined in accordance with the regulations of prince Mohammad Bin Fahd University or the Financing entity, and is subject to adjustment or cancellation in the event of any changes that might occur in these regulations during the period of this award.

3.1.1        Students have the right to know:

3.1.1.1  What financial aid programs are available at PMU

3.1.1.2  The deadlines for submitting applications for each of the programs

3.1.1.3  Be informed of the tuitions and tuition variations at PMU

3.1.1.4  Be informed of Financial aid criteria, decisions on distribution of scholarships, and the basis of these decisions

3.1.1.5  The financial need definition

3.1.1.6  The details of the various programs in the student aid package

3.1.1.7  The portion of the financial aid that must be repaid, and the portion that is granted aid

3.1.1.8  Criteria and conditions for grant renewal, definition of satisfactory academic progress.

3.1.2        In accepting their responsibilities, students must:

3.1.2.1  Complete all application forms accurately and submit them on time to the proper authority

3.1.2.2  Provide correct information. In most instances, misreporting information on financial aid application forms is a violation of law

3.1.2.3  Return all additional documentation, verification, corrections, and/or new information requested by either the Office of Financial Aid to which submitting the application

3.1.2.4  Be responsible for reading and understanding all forms that they are asked to sign, and for keeping copies of them

3.1.2.5  Live up to all agreements that you sign

3.1.2.6  Perform the work agreed on if accepting a work-study award

3.1.2.7  Be aware of and comply with deadlines for application or reapplication for aid

            3.1.2.8  Report changes in name, address, telephone number, and enrollment status to the Office of Financial Aid.