Common use of Satisfactory Academic Progress Clause in Contracts

Satisfactory Academic Progress. Financial Aid Offices establish standards of Satisfactory Academic Progress (SAP) in accordance with federal regulations (34 Code of Federal Regulations Section 668.34), which may vary from college to college. To be eligible for Financial Aid, students within the OEI Exchange must meet or exceed these standards in accordance with the Home College SAP policy. Failure to maintain these standards may result in loss of financial aid eligibility. The standards apply to all financial aid recipients and to all college coursework taken including coursework taken from outside colleges if that coursework has been submitted and appears on the transcript. Financial Aid funds will be disbursed to students who are in compliance with the Home College’s Satisfactory Academic Progress guidelines. Federal Title IV financial aid funds are awarded under the assumption that a student will remain in attendance for the entire semester for which the funds were awarded. Students who withdraw from all courses prior to completing more than 60% of the semester will have their financial aid eligibility recalculated based on the percentage of the semester completed and will be required to pay any unearned financial aid they may have received in accordance with Return to Title IV guidelines as mandated by the U.S. Department of Education. The calculation for the Return of Title IV Funds (R2T4), notification to the student and any return of any funds, will be the responsibility of the student’s designated Home College.