Terms and Conditions for Receiving Financial Aid

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  1. To receive federal, state and institutional financial aid, a student must:
    1. be a United States citizen or eligible non-citizen,
    2. be enrolled in an approved program of study,
    3. not be in default on any federal education loan,
    4. not owe a refund on any federal grant,
    5. use all funds received SOLELY for educational costs attributed to a student’s attendance at Keuka College, and
    6. maintain satisfactory academic progress as defined by the College and displayed in the Keuka College Record.
  2. Decisions on admission of an applicant are based on criteria entirely separate from financial aid considerations.
  3. Final decisions concerning a student’s financial aid are dependent upon acceptance and enrollment in the College.
  4. If the student is a first-time borrower at Keuka College under the Federal Direct Loan programs, the student must complete entrance counseling and a Master Promissory Note before loan proceeds may be credited to the account.
  5. If a student is transferring to Keuka College, the Financial Aid Office will perform a check on the National Student Loan Data System (NSLDS) to determine if the student received federal funding prior to receiving any federal funds at Keuka.
  1. If the student is selected for verification, federal, state, and institutional aid will not be disbursed until the verification process has been completed. Students must submit all required documentation by applicable federal, state, and institutional deadlines. Keuka College reserves the right to refuse processing of any aid for a prior year once the academic year has ended which is the end of the business day on the last scheduled day of final exams.
  2. If the student withdraws before completing the payment period or period of enrollment, federal regulations require Keuka College to determine the amount of Title IV aid earned under the federal Return of Title IV Funds (R2T4) regulations. Unearned federal funds may be required to be returned, which could result in a balance due to the College.
  3. The financial aid offer is based on the enrollment status reported at the time the award was made. Changes in enrollment may affect eligibility for federal, state, and institutional aid. Students should notify the Financial Aid Office immediately if their enrollment status changes.
  4. If a student is receiving financial aid (other than campus employment) that exceeds the costs reflected on the student account in each semester, the student may be entitled to a refund. Keuka College does not process requests for refunds until the add/drop period has concluded.
  5. If a student is receiving financial aid that is not reflected in the offer, it is the student’s responsibility to notify the Financial Aid Office immediately. Federal regulations require Keuka College to consider all resources available to a student. The financial aid eligibility will be recalculated accordingly.
  6. Student financial aid is offered on an annual basis. A student must reapply (using the appropriate applications) and fulfill all eligibility requirements each year. Additionally, adherence to all stated deadlines is imperative. Keuka College reserves the right to refuse processing for any funds once the student's enrollment has ended.
  7. If the student’s and/or family’s financial situation has changed since completion of the FAFSA, the student should describe in detail those circumstances in writing to the Financial Aid Office by submitting a Financial Aid Appeal.
  8. An offer of financial aid is contingent upon receipt of funding from federal, state, and institutional sources. In the event funding from federal or state sources is decreased, Keuka College assumes no responsibility to provide alternative funding.
  9. Federal Title IV aid and state financial aid regulations require that aid may only be awarded for coursework that applies toward the student’s eligible academic program. Courses that do not count toward program completion are not eligible for federal or state financial aid and may not be included in enrollment status for aid purposes.
  10. Federal financial aid may be received for one repetition of a previously passed course. Additional repetitions of a previously passed course are not eligible for federal financial aid.
  11. A third attempt of a course may not be eligible for federal financial aid. Eligibility will be determined in accordance with federal repeated coursework regulations.
  12. Courses without billing credits are not considered to be aid eligible and cannot count towards full-time status.
  13. Keuka College is required to disclose to borrowers who receive a Federal Direct Loan that information about the loan will be submitted to the National Student Loan Data System (NSLDS) and may be accessed by authorized guarantee agencies, lenders, and institutions [HEOA Sec. 489 amending HEA Sec. 485B(d)(4); (20 U.S.C. §1092b) v]. Borrowers may review their federal student aid history through the Federal Student Aid website at www.studentaid.gov.