Catalog of Howard Payne University, 1999-2000 Page: 44

                                
Financial Information

Institutional Charges: For the purpose of calculating the refund, institutional
charges are defined as a charge for educational purposes by the school for which
the school requires direct payment. These charges may include (but are not limited
to) tuition, fees, dorm, and prepaid board.
Title IV Aid: includes (but is not limited to) Federal Pell Grant, Federal Supplemental
Opportunity Grant (FSEOG), Federal Perkins Loan, Federal Work-Study,
Federal Family Education Loans.
Administrative Fee: An administrative fee (not to exceed $100 or 5% of the
total institutional charges, whichever is less) will be excluded from the institutional
charges used to calculate the refund.
Please Note: More detailed information concerning refunds and withdrawals in
regard to financial aid recipients is available in the Office of Financial Aid.
Financial Aid Programs
The Office of Financial Aid at Howard Payne University operates as a service
to our students. The primary purpose of this office is to administer and coordinate
all financial aid funds including (but not limited to) federal, state, and institutional
funds. The Office of Financial Aid provides assistance in a non-discriminatory
manner to those students who meet established eligibility requirements.
A student who wants to apply for federal and/or state financial aid will need to
complete the FREE APPLICATION FOR FEDERAL STUDENT AID. The HPU
Institutional Financial Aid Application will also need to be completed. Documentation
may be required as the evaluation of an application progresses. No award will
be finalized until all required documentation is on file in the Office of Financial Aid.
In order to apply for federal financial aid, the applicant must be pursuing a degree
that can be obtained from Howard Payne University.
Processing of a financial aid application requires approximately four to six weeks.
Students will be given notification of the status of their eligibility by a letter from
the Office of Financial Aid. Where funding permits, each student will receive an
amount equal to, but not greater than, the financial need. Financial need is defined
as the cost of education less what the family, including the student, can reasonably
be expected to contribute. Financial assistance from the University is viewed only
as supplementary to the efforts of the family.
Financial assistance may consist of scholarships, grants, loans, and student
employment. Assistance may be offered singly or in a combination which will best
suit the needs of the student according to the availability of funds. Institutional
scholarships must be applied to the student's account. They will not be paid in cash.
When a financial aid package has been prepared by the Office of Financial Aid,
adjustments may be required when a student receives additional resources. It is
the student's responsibility to inform the Office of Financial Aid upon receipt of
scholarships or other funds not administered by the University. The University is

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