Financial Information

Student Financial Aid

The Office of Financial Aid at Pitt-Bradford is committed to serving students and families by providing counseling and consumer information to students and families to assist them in receiving the maximum assistance for which he/she qualifies. Pitt-Bradford has designed a comprehensive financial aid Web site to assist in understanding the process and answering many general questions. (For information, please go to www.upb.pitt.edu/financialaid.aspx) Additionally, our financial aid professionals are available to address any questions or concerns.

Financial aid is awarded from three major sources: federal, state and institutional funds. A financial aid award is made up of one or several different types of aid: grants/scholarships, loans and work opportunities.
 
Financial need is determined by calculating the difference between Expected Family Contribution (EFC) and the expected total cost of attending school for a year. The EFC is determined by the information provided on the Free Application for Federal Student Aid (FAFSA). After the FAFSA is filed, a Student Aid Report (SAR) is received via email from the federal processor with the EFC listed on the first page. Cost of attendance (COA) is comprised of average tuition, fees, room and board, transportation, and personal costs. EFC and COA can be viewed on the Financial Aid tab in the Student Service Center.

Student Financial Aid Rights and Responsibilities

Students have the right to know:

• What financial aid programs are available.
• The deadlines for submitting applications for each of the financial aid programs available.
• How financial aid is distributed and how decisions on that distribution are made.
• How financial need is determined. This includes how costs for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc., are considered in the student budget.
• What resources (such as parental contribution, other financial aid, student and family assets, etc.) are considered in the calculation of financial need.
• How much of the financial need as determined by the institution has been met.
• An explanation of the various programs in the student aid package.
• The school’s refund policy.
• What portion of the financial aid must be repaid and what portion is grant aid. If the aid is a loan, the student has a right to know what the interest rate is; the total amount that must be repaid; the repayment procedures; the length of time to repay the loan; and when repayment is to begin.
• How the school determines satisfactory academic progress and what happens if progress is less than satisfactory.
• That all documents submitted to the Office of Financial Aid are confidential.

Student and financial aid recipients’ responsibilities are to:

• Complete all documents required for financial aid accurately and to submit them before the deadlines to the proper place.
• Provide correct information. In most instances, misrepresentation of information on financial aid application forms is a violation of law and may be considered a criminal offense which could result in indictment under the U.S. Criminal Code.
• Read, understand and retain a copy of all forms requiring signature.
• Accept responsibility for all signed agreements.
• Return all additional documentation, verification, corrections, and/or new information requested by the financial aid office or the agency to which the application was submitted.
• Be aware of the school’s refund procedures.
• Participate in an entrance interview before applying for loans from any source. The interview will review available loans and the terms and conditions of each.
• Participate in an exit interview prior to graduation or transferring to another school.

Awards are Subject to Change

• Financial aid applications are evaluated using other general information provided by the student concerning enrollment plans (full- or part-time study), housing status, dependency status, and state residency.
• Should any of this original information change, the financial aid package will be reviewed and may be adjusted by this office.
• A change to less than full-time enrollment may cause awards to be canceled, as some programs of financial aid are only available to full-time students.
• Changes to housing arrangements may affect financial aid. Off-campus housing may require to document with our office.
• If financial aid awards assumed In-State tuition assessment and the student is assessed tuition as Out-of-State, financial aid will be reviewed and adjusted.
• If changes are necessary, our office will make the necessary adjustments to financial aid at the time we are aware of the changes. A revised award notification will be sent accordingly.

Grants and Scholarships

Federal Pell Grant - Awarded to students based on need.  EFC and enrollment status determine eligibility based on the U.S. Department of Education Pell Payment Schedule. Limited to six (6) years.
 
Federal SEOG - (Supplemental Educational Opportunity Grant) - This award is based on need. It is funded by the federal government but administered by the school. Must be Pell eligible. Priority is given to the students with the most need. Awards may differ from school to school.
 
Pennsylvania State Grant - Must be a PA resident at least 12 months prior to enrolling in the university and must have completed the FAFSA by May 1. Eligibility and amount are determined by Pennsylvania Higher Education Assistance Agency (PHEAA), not the university. For questions regarding residency, status notice information, or income validation call PHEAA at 1-800-692-7392.
 
Pitt-Bradford Academic and Geographic Scholarships and Awards - Scholarships offered at-entry. Although the Free Application for Federal Student Aid (FAFSA) is not required, we do recommend and encourage all students to file the FAFSA in order to find all sources of aid for which they qualify. Please see our website for more information, specific requirements, and renewal criteria.
 
Donor Scholarships - These scholarships are awarded to returning students only. They are not automatically renewed each year. Priority consideration is given to students who complete a FAFSA by March 1 of each year, enrolled in at least 6 credits by April 15, and have at least a 2.0 cumulative GPA. Students will be required to submit a thank-you note to be considered in subsequent years. Completion of the verification process, if selected, is required before the scholarship will be credited to student accounts. Please see our website for more information.

Other Scholarships
Students are encouraged to explore all opportunities for financial support in their local communities. Funding sources and agencies include civic groups, churches, charitable foundations, fraternal organizations, hospitals, unions, and businesses. Students who receive a scholarship or grant from a source other than federal or state government or Pitt-Bradford are required to report the award to the Office of Financial Aid. Students can send the office a written statement providing the information about the outside scholarship/grant or send a copy of the notification received from the organization that made the award. Pitt-Bradford is required by the federal government to monitor the total amount of financial aid each student receives from all sources to ensure the student’s total financial aid is limited to the demonstrated need and/or cost of education. The Web is a great place for free scholarship search services. For more information on outside scholarships we have created the following link: http://www.upb.pitt.edu/outsidescholarships.aspx

Self Help

Federal Work Study - This is a need based program. It is funded by a match between the federal government and the school. An award of work study does not guarantee a position; all jobs are filled at the discretion of individual departments. Biweekly paychecks are deposited for hours worked; the amount is not deducted from the student account balance.
 
Federal Perkins Loan:

• Funded by the federal government and administered by the university.
• Need based. The Office of Financial Aid determines eligibility and the amount of the loan. It is not uncommon for loan awards to differ from school to school.
• Fixed low-interest (5%) subsidized loan. Repayment begins 9 months after the student is no longer enrolled or drops below 6 credits.
• The federal government is discontinuing this program in September 2017. Awards are only made to current borrowers at Pitt campuses.

 
Federal Direct Student Loan:

• This is a federally guaranteed loan in the student’s name.
• Generally a student cannot be turned down for a Federal Direct Student Loan unless they have defaulted on a previous student loan or are not a U.S. citizen or eligible non-citizen.
• Must be enrolled in at least 6 credits.
• Repayment begins 6 months after the student is no longer enrolled or drops below 6 credits.

Subsidized Federal Student Loan:

• Need based. Interest accrued on this loan is paid by the federal government while the student is enrolled in at least 6 credits.
• Interest accrues during repayment at a fixed rate of 3.76% as of July 2016.

Unsubsidized Federal Direct Student Loan:

• Not need based. The student is responsible for the interest that accrues on the loan from the time it is disbursed until it is paid in full.
• Interest accrues at a fixed rate of 3.76% as of July 2016.
• Please see our website for additional information.

Figuring out Your Financing

When borrowing, it is important to consider how to manage debt when repaying the loan.

• A manageable level of debt payment is considered to be between 8% and 15% of your first year’s gross income.
• Monthly student loan payments normally last up to 10 years.

Ways to Meet the “Gap”

Federal Direct Parent PLUS Loans- The Federal Direct Parent PLUS Loan is a credit based loan with a fixed interest rate of 6.31% as of July 2016, with default and up-front origination fees of 4.272% as of July 2016.
 
Students must be enrolled at least half-time in a degree seeking program, be meeting the Federal Academic Progress Standards (SAP), and have a completed FASFA on file for parents to access a Federal Direct Parent PLUS loan.
 
The borrower must be either a biological or adoptive parent, or step parent. Parent borrowers and their student must be U.S. citizens or eligible noncitizens and not currently in default on federal aid. Through the Federal Direct Parent PLUS Loan Program, parents of dependent students may borrow up to the cost of education less any other financial aid received by the student.
 
If a parent is denied a Federal Direct Parent PLUS Loan, the student may automatically be considered for an additional unsubsidized Federal Direct Student loan in an amount up to $4,000/year for freshman and sophomores and up to $5,000/year for juniors and seniors. Students will receive an email to their Pitt email asking if they want additional unsubsidized loan funds.  Students must respond in order for these funds to be processed.
 
Parent borrowers also have the option to either appeal the credit decision with the U.S. Department of Education or get an endorser for the loan by choosing the associated bubble on the results page after submitting the online Federal Direct Parent PLUS Loan application at studentloans.gov.

For more information, please see our website.

Alternative Loans

• A private alternative loan is a non-federal loan, through a private lender, typically in the student’s name and usually requiring a cosigner. Approval and interest rates are based on the creditworthiness of the borrower and cosigner. Each alternative lender has different eligibility requirements, loan rates, terms, and conditions.
• The Office of Financial Aid can assist with information on lenders. FAST CHOICE is a landing page that offers comparisons of loans, loan counseling, and borrowing options to fit your individual needs.  However, the University of Pittsburgh at Bradford does not endorse, recommend nor promote any particular lender.
• The loan must go through a credit check for approval. Students may borrow up to the cost of attendance less other financial aid.
• Interest rates vary. Payment may be deferred until a student is out of school or enrolled in fewer than 6 credits; however, the interest will be accruing and should be paid, if possible, while in school. These private education loans do not have an interest rate cap and may or may not be a fixed interest rate.
• Federal guidelines determine the time line for actual disbursement of funds. The Financial Aid tab on the Student Service Center at my.pitt.edu provides cost of attendance information needed for the self-certification process of the alternative loans. Click on the above link for additional information.
• The Self Certification form can be downloaded from here.

Payment Plan

The university offers a payment plan each semester for balances of $500 or more. Access PittPay and view the most recent eBill. Click on the Payment Plan option to walk through the steps of enrollment. There is a nonrefundable fee charged each semester the Payment Plan is used. Contact Enrollment Services at (814) 362-7602 or upbacct@pitt.edu for more detailed information or view the Web information: www.upb.pitt.edu/Paymentplan

Other Important Information

Release of Student Information to Parents and Others

The Family Educational Rights and Privacy Act of 1974 (FERPA), as amended, states that when a student begins attending a college or university, the rights previously held by the parents shall be accorded to the student.
 
The university may release information to the parents of a student, without the student’s written consent, only if the student is a dependent as defined in Section 152 of the Internal Revenue Code of 1954.
 
The payment of a student’s tuition by the parent does not, by itself, give the parent access to a student’s record. You may request this form from the Enrollment Services Office.

Special Note to Undergraduate Students
It normally takes 120 credits to earn a bachelor’s degree. To graduate in four years, a student must enroll in a minimum of 15 credits per semester. Enrolling in 12 credits (minimum for full-time students) would extend graduation 1 to 1 ½ years. There are some financial aid program limits that could make this last year financially difficult. For example, PHEAA State Grant has a limit of 8 semesters (part-time is proportionately more).

Renewal of Financial Aid
Financial aid awards are not automatically renewed each year. The FAFSA for the 2017-18 academic year will be available after October 1, 2016. The priority deadline for filing is March 1. Pennsylvania’s state grant deadline is May 1.
 
Making Corrections on Your FAFSA
Students may jeopardize their eligibility for financial aid if corrections are made to the household or income/asset sections of the FAFSA after a financial aid award letter is received. Making corrections also increases the likelihood of being selected for verification. If students need to make corrections, it is important to contact the Office of Financial Aid.
 
Changes in Circumstances
It is the student’s responsibility to report changes that may affect eligibility for financial aid: for example, a scholarship that is not listed on the award letter, or if enrollment, residency or housing status changes, let the Office of Financial Aid know.
 
Special Conditions
For special circumstances that are not reflected in the information provided on the FASFA, contact our office. The Office of Financial Aid will only make earned income adjustments after the 2016 federal taxes are completed. IRS Tax Transcripts and w2s from both 2015 and 2016 must be submitted for review no later than the end of the first week of April 2017. Changes may be made retroactive to the 2016 fall semester.
 
Summer Financial Aid
Limited financial assistance may be available for the summer term, usually in the form of student and parent loans and/or Federal Pell Grants.
 
Students need to be registered in at least 6 credits and have loan eligibility left from the previous academic year in order to receive a Federal Direct Student Loan for summer. Alternative educational loans are also available to students with no federal student loan eligibility left from previous academic year. Students should complete a separate application (available in the Office of Financial Aid) after registering for summer classes.
 
Study Abroad
If you are planning to participate in a Study Abroad program contact the Office of Financial Aid as early in the term before the study abroad experience as possible so that we may help you plan for your term abroad. Financial aid is available for Pitt approved programs only.
 
Veteran and Soldier Benefits
Pitt-Bradford does not have a veteran’s liaison on-campus; only a certifying official.  It is the responsibility of the veteran to obtain the proper paperwork, and file the necessary applications on-time for their benefits.
 
Pitt-Bradford requires a Letter of Eligibility (LOE) before we can certify any benefits.  Also, for those that receive Federal Tuition Assistance (FTA), veterans must submit the Army Tuition Assistance Authorizations for all approved classes. VA Beneficiaries must notify the Office of Financial Aid of all changes in enrollment.
 
www.gibill.va.gov
www.goarmyed.com
www.vabenefits.vba.va.gov/vonapp/default.asp

ROTC Scholarships
The U.S. Army awards financial aid on a competitive basis to outstanding young men and women who are interested in a military career and who pursue a commission as an officer through a Reserve Officers Training Corps (ROTC) program while in college.

All U.S. Army ROTC scholarships pay up to 100% of tuition or $10,000 for room and board per year, $600 per semester for books, and a tax-free subsistence allowance (ranging from $300-$500 per month depending on academic level, for up to 10 months).
Students who enroll in the U.S. Army ROTC program as freshman and sophomores may apply for two- and three-year scholarships, and all students who accept U.S. Army ROTC scholarships enter a contractual agreement with the U.S. Army.
Specific information is available through the Office of Student Affairs at Pitt-Bradford, or from the Department of Military Science, which has offices on the campus of Saint Bonaventure University.
 
Mailing Address
All correspondence from the university will be mailed either to the permanent/mailing address provided on the admission application or to your campus mailbox (if you live on campus). It is your responsibility to keep addresses current, which includes off-campus addresses. Change of Address Forms are in the Enrollment Services Office.
 
Pitt-Bradford Email
Students admitted to Pitt-Bradford will receive a Pitt email account. This is the official means of communication. If you use a private account, please forward your Pitt email to your private email so that you will receive the important information that is sent directly to the student or the student distribution list from this office.

Verification of FAFSA Information

New Students: If you are selected for verification, we will not be able to credit your student account with federal funds until you have completed the verification process.
 
Returning Students: If you are selected for verification, you will not be awarded federal funds until you have completed the verification process and your FAFSA status is Official.

Both new and returning students will receive a Verification Worksheet or packet of verification materials to complete and return to our office via email.
 
Federal Tax Information
FAFSA filers are strongly encouraged to use the IRS Data Retrieval Tool (IRS DRT). This process allows the IRS to automatically pre-fill FAFSA income questions.
 
If an applicant selected for verification has not successfully transferred information from the IRS, or has changed information provided by the IRS, the Department of Education expects the institution to require the applicant, and if necessary, the applicant’s spouse or parent(s), to provide an IRS Tax Return Transcript (*some conditions do apply):
 
IRS Tax Return Transcript
Tax filers can request a transcript of their 2015 tax return from the IRS, free of charge, in one of three (3) ways:

• Online request - www.irs.gov
• Telephone request - 1-800-908-9946
• Paper request - IRS Form 4506T-EZ

 
*Some applicants who are selected for verification will not be able to participate in the IRS DRT and will need to submit an IRS Tax Return Transcript of 2015 tax year information for the applicant and/or their parents/spouse (as applicable) to their institution. The list includes the following:

1. When the applicant or parent did not use the IRS DRT - either at initial FAFSA filing or when making corrections.
2. When information included on the FAFSA using the IRS DRT was subsequently changed.
3. When a married independent applicant and spouse filed separate tax returns.
4. When the married parents of a dependent student filed separate tax returns.
5. When an applicant or applicant’s parents had a change in marital status after the end of the tax year on 12/31/15.
6. When the applicant, or parents, or spouse, as applicable, filed an amended tax return.
7. When the applicant, or parents, or spouse, as applicable, did not file a U.S. 1040/A/EZ tax return (this includes U.S. territory tax returns and foreign country tax returns).

Non Tax Filers
Students and parents who are not required to file federal taxes and are selected for verification must turn in a letter of non-filer status from the IRS. The IRS form 4506-T is required in order to fulfill this request.

PITT-BRADFORD SATISFACTORY ACADEMIC PROGRESS POLICY

The Office of Financial Aid is required by federal regulations to monitor student progress toward the completion of a degree. Below are the guidelines, which determine if a student is maintaining Satisfactory Academic Progress (SAP).
 
Student progress will be reviewed at the end of each spring term. Students will be notified in writing by the Office of Financial Aid if not meeting academic progress and given instructions on the appeal requirements and process. Those not making progress will be denied student aid. This includes:

• Federal Pell Grant
• Federal SEOG (Supplemental Educational Opportunity Grant)
• Federal Direct Student Loans
• Federal Direct Parent PLUS Loans
• Most University funds* 

*Merit scholarship recipients (Panther, and Dean’s), must meet housing and GPA requirements (CUM 2.25 at the end of the spring term) to receive the award.  CHS and Bridges scholarships, Go Beyond NYS, and Seneca Book Award must meet minimum GPA requirements (CUM 2.25 at the end of the spring term).
 
If a student is academically dismissed or leaves to attend elsewhere (i.e., transfer to another institution) and then later return to Pitt-Bradford, the student is no longer eligible to receive the original scholarship awarded.
 
Standards of Academic Progress for Financial Aid

• Full- and part-time students who are in their first academic year must complete 67% of all attempted credits and must maintain a 1.5 Cumulative GPA.
• Full- and part-time students who are in their second or greater academic year must complete 67% of all attempted credits and must maintain at least a 2.0 cumulative GPA. 

What to Do If Denied Aid Due To SAP
If denied aid, students have the option of paying for classes using their own funds until they reach satisfactory academic progress.
 
Or, if a student has experienced circumstances beyond their control, they may appeal the decision to the Financial Aid Appeal Committee using the Satisfactory Academic Progress Appeal Form that was sent via email following the spring semester.
 
Incomplete forms and requests without proper documentation will be automatically returned to the student for completion. Appeal must include:

• An explanation of why the student failed to make satisfactory academic progress

AND

• What has changed that will allow the student to make satisfactory academic progress at the next evaluation.

The completed appeal and the required documentation must be submitted to the Office of Financial Aid. The appeal form and the required documentation will then be forwarded to the Financial Aid Appeal Committee for review. The decision of the Appeal Committee is final and may not be appealed. Students will receive email notification of the committee’s decision.

If an appeal is approved, the student is placed on “financial aid probation” or “academic plan” status and Title IV aid eligibility is reinstated for the next payment period or term (with possible requirements specified by the school).

If the student does not make satisfactory progress or meet requirements of the academic plan by the end of the next payment period or term, the student loses eligibility for Title IV aid again. The student must then complete at least six credits on their own before they can appeal again.
 
PHEAA (PA State Grant) Academic Progress
PHEAA has separate guidelines for checking academic progress. Students will be notified by PHEAA if they are not making progress for their state grant. All appeals for this grant are handled through PHEAA directly.
 
Generally speaking, full-time students, must complete 24 credits per academic year. Part-time students must complete 12 per academic year.

Tuition, Fees, and Other Expenses

(These are actual costs for 2016-2017; costs normally increase each year.)

Note: Pitt-Bradford reserves the right to increase or revise tuition, room, board, and other charges without advance notice. Other course-specific fees (i.e., labs, nursing) may apply.

Full-Time Students (12 credits or more)*

The following are the costs for the two-term academic year (fall and spring) 2016-2017:

**Students registered during the summer term and/or summer sessions will also be billed on a per-credit basis only, regardless of the number of credits taken.

Miscellaneous Fees:

The following fees must be paid prior to initially enrolling:

Title IV Refund Policy

Adjustments to tuition charges resulting from official resignations are based on the effective date of resignation and in accordance with the federally mandated calculation.

The calculation is based on the period of enrollment completed. That percentage is computed by dividing the total number of calendar days in the term into the number of calendar days completed, as of the date of student notification. The percentage of Title IV assistance to which the student is entitled (has “earned”) is equal to this percentage of the term completed up to 60 percent. If the resignation occurs after 60 percent of the term is completed, the percentage is equal to 100 percent.

The amount of Title IV aid that must be returned is based on the percentage of “unearned” aid. The percentage is computed by subtracting earned aid from 100 percent. The University is required to return the lesser of 1) the unearned aid percentage applied to institutional charges or 2) the unearned aid percentage applied to the total Title IV aid received.

The student is required to return the difference between the amount of unearned aid and the amount returned by the University. If the student (or parents in the case of PLUS loans) is required to return a portion or all of the loan proceeds, the calculated amount is to be repaid according to the loan’s terms. Students must return only half the amount of grant funds calculated.

Funds are returned to the following Title IV sources in order of priority:

1. Unsubsidized FFEL loans
2. Subsidized FFEL Loans
3. Federal Perkins loans
4. FFEL PLUS loans
5. Federal Pell Grants
6. Federal SEOG
7. Other Title IV assistance for which a return of funds is required
8. Other federal, state, private, or institutional financial assistance
9. Student

Board

Board (meal plan) changes are prorated on a separate basis.