- Are all students eligible to receive federal aid?
- Is receiving federal aid connected to or based upon academic progress?
- What does it mean if the results of my FAFSA application states I'm required for Verification?
- When can I expect to be notified by the Boston Architectural College (BAC) of my financial aid awards?
- What do I have to do in order to get my Federal Stafford Loan funds?
- How much can I borrow?
- What happens to my financial aid if I withdraw from classes?
- What if I have special circumstances that affect my ability to complete the FAFSA, or affect the information previously reported on the FAFSA?
Generally students must meet the following criteria in order to eligible for federal aid:
- Students must be a U.S. citizen or eligible non-citizen (U.S. permanent resident who has an I-151, I-551, or I-551C Alien Registration Receipt Card). Check with the Financial Aid Office for further explanation
- Register (or have registered) with the Selective Service if you are a male between 18 and 25 yrs old
- Be enrolled in an eligible program working towards a degree. NOTE: Continuing Education students are NOT eligible to receive federal and state aid
- Have a High School diploma or General Education Development (GED) Certificate
- Cannot be in DEFAULT on a prior federal loan or owe an overpayment to the federal government
- Students must be U.S. Citizens or eligible non-citizens in order to complete the Free Application for Federal Student Aid (FAFSA). Eligibility is matched with records from the Department of Homeland Security database.
- Students must meet Financial Aid Satisfactory Academic Progress
Is receiving federal aid connected to or based upon academic progress?
Yes. Financial Aid Satisfactory Academic Progress is measured by two factors: A Quantitative aspect that measures how much time students have to earn their degrees; and, a Qualitative factor that stipulates a minimum academic standard for achievement. Students should be aware that the Financial Aid Satisfactory Academic Progress policy differs from the Satisfactory Educational Progress policies set forth by the College.
In order to receive federal aid students must meet Financial Aid Satisfactory Academic Progress. Students must earn a passing grade in at least 67% of the credits attempted. Additionally, students must maintain a minimum Cumulative Grade Point Average (CGPA). Students have their progress reviewed at the end of each semester. Students will have a warning semester if they fail to maintain a minimum CGPA according to their program as follows:
- BARCH and BID: 2.5
- MAR and MID: 2.7 for Segment II and thereafter
- BLA: 2.5 BDS: 2.0
Students who fail to maintain the required SAP after a Warning Semester are ineligible to receive additional federal funds.
What does it mean if the results of my FAFSA application states I'm required for Verification?
When the federal government requires the Financial Aid Office to verify the information listed on the FAFSA, additional documentation must be submitted. Students will be notified to make a correction to the FAFSA application by selecting the IRS Data Retrieval Tool, or if a students is unable to use the IRS Data Retrieval Tool, then an IRS Tax Transcript will be required. Additionally either a Dependent or Independent Verification Worksheet (depending on the student's status) must be completed and submitted to the Financial Aid Office. Occasionally, the Financial Aid Office will require additional information regarding financial support, untaxed income, or family members. Students will be notified of any requests for additional documentation. An award letter will not be sent to students until all requested Verification documents have been received and reviewed and the student's eligibility is determined.
When can I expect to be notified by the Boston Architectural College (BAC) of my financial aid awards?
Students will be notified of their financial aid eligibility in the form of an Award Letter. Students must be accepted into a degree program at the BAC and have provided all necessary documents to the Financial Aid Office. Generally the Financial Aid Office will begin to send award letters for the upcoming academic year in April for Fall attendees and November for Spring attendees.
What do I have to do in order to get my Federal Stafford Loan funds?
When students are awarded Federal Direct Stafford Loans, they are required to complete Entrance Counseling and have a valid Master Promissory Note before the funds can be credited to their students account. Entrance Counseling will provide a information about your rights and responsibilities, and the Master Promissory Note is your signed agreement that you understand these rights and promise to repay this loan.
How much can I borrow?
Students are able to borrow up to their Cost of Attendance per academic year. The Cost of Attendance is listed on the award letter, and it includes tuition, an allowance for room and board expenses, books, supplies, transportation, and personal expenses. Students are awarded federal loans according to their eligibility and academic grade level, not to exceed the direct costs to the school. For example, a first year independent undergraduate, if eligible, will be awarded a Subsidized Stafford Loan in the amount of $3,500, and an Unsubsidized Federal Stafford Loan of $6, 000, for a total amount per academic grade level (first year) of $9,500. Whereas a Graduate student is eligible to receive a Federal Direct UnSubsidized Stafford Loan in the amount of $20,500.
If students have borrowed their maximum amounts under the federal loan programs (Direct Stafford, Direct Parent and Graduate PLUS), and need additional funds to help defray tuition and other educational related expenses, students may be able to borrow alternative /private loans. The Financial Aid Office encourages students to review interest rates and repayment options for all alternative/private loans prior to borrowing, as these options differ from federal loan programs.
What happens to my financial aid if I withdraw from classes?
Students must complete a withdrawal form (available from the Registrar's Office) prior to withdrawing from a course or the semester. It is recommended that students who are receiving financial aid consult with the Financial Aid Office prior to a withdrawal to ensure that the student is fully aware of how withdrawaing impacts their financial aid. Students should be aware that the BAC has an institutional refund policy for tuition adjustments. This is found on the "Tuition and Fees" section of the web site. Federal guidelines mandate that all federal aid be adjusted according to a strict refund policy set forth by the Department of Education when a student fully withdraws. According to federal refund policies, students earn a percentage of their federal aid up to the 60% period of the semester. Therefore, if a student fully withdraw from school, the Financial Aid Office will calculate the percentage by dividing the number of days that the student attended by the number of days in the semester. If the calculation is less than 60%, a percentage of federal funds will be returned. This most often results in a balance due on the student account. If the student has attended more than 60% of the semester, no return of federal financial aid will be required.
If students withdraw from all classes without official notification, federal regulations mandate that the Financial Aid Office calculate a last day of participation in an educationally related activity, such as class attendance, and then determine whether federal funds must be adjusted. Students should be aware that changes in enrollment might also result in a change in financial aid.
What if I have special circumstances that affect my ability to complete the FAFSA, or affect the information previously reported on the FAFSA?
Students who have unique special circumstances that affect their ability to complete the FAFSA should see a Financial Aid Administrator. In certain situations, dependent students who are unable to provide parental information on the FAFSA, due to extenuating circumstances, may be considered Independent after a Financial Aid Administrator reviews their situation. Students will be required to submit documentation about their situation before a determination will be made. Additionally, students who have had significant changes to income information reported on the FAFSA due to unforeseen circumstances, such as sudden unemployment, medical expenses not covered by insurance, death in the family, etc., should contact the Financial Aid Office.