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Eligibility
Many students will be assisted by grants, scholarships and loans from state
and federal governments, the College and other private agencies.Approximately 91 percent of current students have received some assistanceTotal assistance for 2006-2007:Grants and Scholarships – $4,167,952Loans – $21,504,972.
All students are expected to apply for federal and state grant programs for
which they may be eligible. Students are also expected to use the Federal
Stafford Loan Program when necessary. Students are expected to file the Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA each year in order to determine financial aid eligibility.
Students must have unmet need in order to qualify for need-based
aid. The College will determine the student's unmet financial need by deducting the federal expected family contribution from the student's cost of attendance. Need-based awards are limited and offered on a first-come, first served basis to students who meet the College's financial aid deadlines.
ACP’s Federal Title IV Code is 002885. The filing deadline for the FAFSA
is February 1, 2007 for new students and March 1, 2007 for returning students. Students are encouraged to submit the FAFSA or Renewal FAFSA
electronically. Students without Internet access may mail the paper FAFSA form to the federal processor. The federal processor will conduct an analysis of family income, assets, number in household and number of family members attending college using the federal methodology formula.The federal methodology formula is approved by the U.S. Congress
each year to determine the expected family contribution. Students selected
for verification or correction must submit copies of student, spouse and parent(s) 2006 federal tax returns and W-2 forms with a federal verification
worksheet to the office of financial aid by May 1, 2007. All new students are
institutionally selected for verification. Students subsequently selected for
verification after May 1, 2007 are required to submit these documents within
60 days of written notification from the Office of Financial Aid. The Office
of Financial Aid cannot process financial-aid awards for students who do not
meet the above deadlines.The Office of Financial Aid will determine the student’s financial need according to the following formula: Cost of Attendance minus Expected Family
Contribution equals Financial Need. In addition to filing the required forms
and demonstrating financial need, the student must continue to maintain satisfactory academic progress to remain eligible for federal, state and institutional financial-aid awards.
Students placed on academic probation at the end of the academic year will
have one semester of grace before losing financial-aid eligibility. Academic
progress is measured yearly.
Appeal Process: Students have the right to appeal the loss of aid by writing
to the Vice President of Enrollment Management. The appeal letter must include documentation of the unusual and extraordinary circumstances that
prohibited the student from meeting the standards of satisfactory academic
progress.