Financial Aid Terms & Conditions

What to Know Before Using Financial Aid

When you accept financial aid from Glen Oaks, you're agreeing to follow important federal and college policies. This ensures funds are used properly and fairly for your education. Please read each section carefully so you understand your rights, responsibilities, and what could affect your aid.

Additional Financial Assistance

If you receive scholarships, veteran’s benefits, or other outside aid not listed in your award letter, you must report it to the Financial Aid Office immediately.

  • These funds can affect your total aid package.
  • Your financial aid may be adjusted or reduced, even after it’s been disbursed.
  • If you're enrolled at more than one college, you can only receive aid from one institution.

Past Federal Aid

To stay eligible for federal financial aid:

  • You cannot be in default on a federal loan.
  • You must not owe a refund on a federal grant from any college you've attended.

Using Your Financial Aid

What It Covers

Your financial aid is meant to pay for education-related expenses during the current academic year.
This includes:

  • Tuition and fees
  • Books and supplies
  • Transportation and personal costs

Note: Some aid, like the Michigan Tuition Incentive Program (TIP), can only cover tuition and mandatory fees.

Refunds & Account Charges

  • Glen Oaks applies your financial aid directly to your student account.
  • If your aid exceeds your charges, you will receive a refund.
  • If you add charges later, you are responsible for paying the difference.
  • Aid for a specific term only applies to that term’s charges.

Enrollment Requirements

  • Your aid is based on full-time enrollment. If you take fewer credits, your aid may be reduced.
  • Wait-listed courses do not count toward your enrollment level.
  • Some scholarships require full-time status to disburse.

Less than full-time enrollment may lower your aid eligibility.

Attendance Requirements

You must attend classes to receive financial aid.

  • Instructors will report your attendance to the Financial Aid Office.
  • If you’re marked as not attending, your aid may be adjusted or removed.
  • You may need to repay aid if it was disbursed for a class you didn’t attend.

Dropping Classes or Withdrawing

Reducing Credit Hours

If you drop below the minimum credit requirements:

  • You may have to repay all or part of your aid.
  • Aid adjustments happen after the add/drop deadline each term.

Before dropping a class, talk with the Financial Aid Office to understand how it may affect your aid.

Withdrawing from the College

If you withdraw from all your classes:

  • You must notify the Financial Aid Office immediately.
  • You must also follow the official withdrawal process with the Registrar’s Office.
  • Depending on the date of withdrawal, you may be required to repay some or all aid.
  • If you received a student loan, you must complete loan exit counseling.

Staying Eligible: Satisfactory Academic Progress (SAP)

To keep receiving aid, you must:

  • Maintain a minimum GPA
  • Complete a required percentage of your attempted classes

Federal regulations require Glen Oaks to monitor your academic progress. If you fall behind, you could lose eligibility for all types of aid.

Learn more about SAP Requirements

FAQs

Q: What happens if I take fewer credits this semester?
A: Your aid may be reduced based on your enrollment level. Some awards require full-time status.

Q: Do I need to report outside scholarships or benefits?
A: Yes. Report all additional aid—even if another department or agency said they would notify us.

Q: What if I don’t attend a class I’m enrolled in?
A: Your aid may be reduced. You must attend class to stay eligible for disbursement.

Q: Can I drop a class without losing financial aid?
A: Possibly. It depends on how many credits you keep. Talk to Financial Aid before dropping.

Q: What if I withdraw from the College?
A: You may have to repay some aid. Notify Financial Aid and complete required withdrawal steps.

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