Catalog of Howard Payne University, 1986-1987 Page: 29
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Financial Information
sity is to be notified in writing about any change in the financial status of applicants
(i.e., private scholarships, marriage, etc.) so that aid applications can be
reevaluated.
Because the Pell Grant (formerly the Basic Educational Opportunity Grants
Program) can make a significant difference in the aid package programmed for
students, no award package will be considered finalized until the Student Aid
Office has the original copies of the Student's Aid Report (SAR). Each student
applying for financial aid programs other than Howard Payne scholarships is
strongly encouraged to file a Pell Grant application early in the year in order to
insure maximum consideration for other aid programs.
Each student is encouraged to apply early for financial aid. Preferred filing
dates are: May 1st for the fall semester; November 15th for the spring semester
and April 15th for the summer terms. Any misinformation relative to facts such
as academic probation or suspension; disciplinary probation or suspension, or
other factors which would cause a student to be ineligible for enrollment, would
automatically cancel any consideration or award of financial assistance. Students
must file a new application each year.
In order to be considered for any type of financial aid, a student must be
enrolled for at least six (6) semester hours. Due to an increasing demand for
student financial aid funds, it will be the policy of Howard Payne University
when preparing student aid packages to give first priority to full-time students
(those enrolled for a minimum of twelve (12) semester hours). If a student applies
for and is awarded financial aid on a full-time basis and then fails to enroll
for twelve semester hours, or subsequently drops to a part-time status (during
the period when a refund is due) that student will not be eligible to receive
SEOG, TEG, or SSIG funds for that enrollment period.
After a student's eligibility for a Pell Grant has been established, the amount
of the award will be determined by the number of hours for which the student
enrolls. If a student drops hours during the refund period as stated in the University
catalogue which are sufficient to change his enrollment status (for example:
from 12 to 9 hours) the Pell Grant award will be adjusted accordingly.
If a student who is receiving financial aid withdraws from the University, the
amount of student aid to be refunded will be determined according to the formula
provided by the Department of Education. A copy of this formula is available
from the Student Aid Office upon request.
SATISFACTORY PROGRESS POLICY-Student financial aid programs
were created and funded to help students achieve access to higher education and
accomplish academic goals. To make maximum use of the limited aid funds
available, each aid recipient must maintain satisfactory progress in a course of
study leading toward a degree or educational goal. The student financial aid
policy on satisfactory progress is outlined below:
1. Only students who are enrolled in credit courses and seeking degrees or
educational certificates will be eligible to receive student financial aid.29
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Howard Payne University. Catalog of Howard Payne University, 1986-1987, book, June 1986; Brownwood, Texas. (https://texashistory.unt.edu/ark:/67531/metapth46518/m1/31/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Howard Payne University Library.