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Financial Aid

Students attending Husson University annually receive financial aid funds totaling in excess of $46 million from federal, state, community, and campus-based sources. Aid resources are made available to students on the basis of financial need determined by the submission of the Free Application for Federal Student Aid (FAFSA). The FAFSA is the only application required for need-based financial aid consideration at Husson.

The FAFSA collects income and asset information about parents and students. This information is analyzed by the Department of Education and provided to financial aid agencies and institutions. The FAFSA should be completed as soon after October 1 as possible to ensure equitable consideration for existing aid resources. All applicants must file by April 15 in order to be considered for all available financial aid. 

Financial aid is renewed annually based upon continued financial need as demonstrated through the annual filing of the FAFSA and the requirement that the student meet the stipulations of the Satisfactory Academic Progress Financial Aid Policy.

Financial Aid Sources

The following is a list of aid sources available to Husson University students. Applicants are encouraged to research the possibility of assistance from other sources such as local fraternal and social organizations and special service groups. Often, your high school guidance counselor is the best resource for this type of scholarship information.

Federal Sources

  • Federal Pell Grants
  • Federal Supplemental Educational Opportunity Grants (FSEOG)
  • Federal College Work Study Program (FWS)
  • Federal Direct Loan Program
    •     Subsidized
    •     Unsubsidized
    •     Parent PLUS
    •     Graduate PLUS

State Sources

  • Maine State Grant Programs
  • Non-Maine students should apply to the state grant program in their state of residence (See FAFSA for State deadlines)

Community Sources

Many communities support student efforts to attend institutions of higher education. Information regarding local aid programs is available through guidance counselors at local high schools.

Other Sources

  • Husson University payment plans (TMS)
  • Alternative Education Loans from Private Lenders (www.elmselect.com)

Institutional Grants

  • Husson annually offers a limited amount of grant assistance to students with demonstrated financial need and/or academic achievement. 

See the Financial Aid Office's webpage at http://www.husson.edu/scholarships for a complete list of scholarships. 

Withdrawal

Withdrawal from School 
If you register and then withdraw from all classes, your eligibility for aid will be recalculated based on the number of days you attended class. If you withdraw from all classes prior to the first class day, you must repay any and all financial aid received. If you withdraw on or after the first class day, you may have to repay a portion of any financial aid received. If you withdraw, you should consult the definition of Satisfactory Academic Progress to determine if your withdrawal will affect your eligibility for future aid. 
The Higher Education Amendments of 1998 changed the formula for calculating the amount of aid a student and school can retain when the student withdraws from all classes. (Consumer Information 34 CFR 668.22). This law specifies how Husson University must determine the amount of Title IV program assistance that you earn if you withdraw from school. The Title IV programs that are covered by this are: Federal Pell Grants, Direct Loans, Direct PLUS Loans, Federal Supplemental Education Opportunity Grants (FSEOG), and Federal Perkins Loans.

Though your aid is posted to your account at the start of each semester, you earn the funds as you complete the semester. If you withdraw during your payment period or period of enrollment the amount of the Title IV program assistance that you have earned up to that point is determined by a specific formula. If you received (or Husson or your parent received on your behalf) less assistance than the amount that you earned, you may be able to receive those additional funds. If you received more assistance than you earned, the excess funds must be returned by Husson University and/or by you.

The amount of assistance that you have earned is determined on a pro rated basis. For example, if you completed 30% of your payment period or period of enrollment, you earn 30% of the assistance you were originally scheduled to receive. Once you have completed more than 60% of the payment period or period of enrollment, you earn all the assistance that you were scheduled to receive for that period.

If you did not receive all of the funds you earned, you may be due a post-withdrawal disbursement. If your post-withdrawal disbursement includes loan funds, Husson must get your permission before it can disburse them. You may choose to decline some or all of the loan funds so that you don't incur additional debt. (We highly encourage this practice). We may automatically use all or a portion of your post-withdrawal disbursement of grant funds for tuition, fees, and room/board charges (as contracted with Husson). Husson needs your permission to use the post-withdrawal disbursement for all other school charges. If you do not give your permission, you will be offered the funds. However, it may be in the best interest to allow us to keep the funds to reduce your debt at the school.

There are some Title IV funds that you were scheduled to receive that cannot be disbursed to you once you withdraw because of other eligibility requirements. 

If you receive (or Husson or parent receive on your behalf) excess Title IV program funds that must be returned, your school must return a portion of the excess equal to the lesser of:

1. Husson charges are multiplied by the unearned percentage of your funds, or

2. The entire amount of excess funds.

We must return this amount even if you didn't keep this amount of your Title IV program funds. If Husson is not required to return all of the excess funds, you must return the remaining amount.

Any loan funds that you must return, you (or your parent for a Direct PLUS Loan) repay in accordance with the terms of the promissory note. That is, you make a scheduled payment to the holder of the loan over a period of time.

Any amount of unearned grant funds that you must return is called an overpayment. The maximum amount of a grant overpayment that you must repay is half of the grant funds you received or were scheduled to receive. You do not have to repay a grant overpayment if the original amount of the overpayment is $50 or less. You must make arrangements with Student Accounts or the Department of Education to return the unearned grant funds.

The requirements for Title IV program funds when you withdraw are separate from any refund policy that Husson has. Therefore, you may still owe funds to the school to cover unpaid institutional charges. Husson may also charge you for any Title IV program funds that the school is required to return. If you don't already know our refund policy please talk to Financial Aid and Student Accounts before making any decisions. Also please visit the OASIS Officelocated in Peabody 208 for procedures for withdrawing from school.

If you have any questions about your Title IV program funds, you can call Federal Student Aid Information Center at 1.800.4.FEDAID (1.800.433.3243). TTY users may call 1.800.730.8913. Information is also available on Student Aid at www.studentaid.ed.gov.

Satisfactory Academic Progress Financial Aid Policy

The U.S. Department of Education requires that a student who receives financial assistance make real and measurable progress in the academic program in which the student is enrolled. This is called Satisfactory Academic Progress (SAP), and it affects all federal, state, and most forms of need-based institutional aid.

To be eligible for financial aid, you must meet specific minimum thresholds:

Undergraduate students:

# of credits attempted GPA below or earned greater than x% of attempted credits
1-231.5067%
24-531.7067%
54-831.8067%
84+1.9067%

Graduate students: 

# of credits attempted GPA below or earned greater than x% of attempted credits
Doctorate of Pharmacy2.067%
All Other Graduate Programs3.067%

Failures, withdrawals, and incompletes are considered attempted but not completed credits for the purposes of assessing Satisfactory Academic Progress. 

SAP is reviewed at the end of fall and spring semesters for undergraduate and graduate students.

If you drop below the minimum SAP requirements you are allowed a warning term to raise your GPA and/or credit hour completion rate to the minimum requirements. You can receive your financial aid during your warning term, but if you are not meeting the required minimum GPA and/or credit hour completion rate at the end of your warning term, your financial aid will be suspended.

If you were placed on warning in a previous semester and continued to fall below minimum requirements, you will be placed on SAP Disqualification, causing the loss of financial aid going forward.

You have two options if you are on SAP Disqualification:

1. You may appeal the suspension **

2. You may continue without the benefits of financial aid. You will still be responsible for finding a way to pay your student account charges if you decide not to appeal. Ways to pay include a payment plan or student alternative loans.

In order to appeal the disqualification, there are two pieces of information you must submit before our SAP Appeals Committee can review your appeal:

1. A written statement that discusses any circumstances that kept you from meeting SAP requirements in the past, and what you have changed in order to foster academic success moving forward. Include specifics regarding your anticipated academic program completion date, and the estimated number of hours remaining for your academic program completion.

2. Written support from an academic advisor, endorsing your academic plan moving forward.

**Submission of an appeal does not guarantee reinstatement of your eligibility.

Your appeal must be submitted within 30 days of notice of the suspension. Appeals submitted after the respective dates below will be considered for the following enrollment period. Incomplete appeals will not be reviewed.  Once all required pieces of information are received, the SAP Appeals Committee will review your appeal within 14 business days, and notify you of their decision via email.  If your appeal is approved, then your financial aid will be reinstated for the appropriate terms in accordance with federal, state and university regulations and processing requirements/ deadlines, and the availability of funds. For students whose aid has been reinstated, they will be placed on Financial Aid Probation.  Even if your appeal is denied, you may continue to pursue your education without the benefit of financial aid. You may apply for a payment plan or explore your options with student alternative loans  at www.elmselect.com. 

The degree programs at Husson University are approved by the Maine State Approving Agency for Veterans Education Programs for persons eligible for Veteran’s Administration GI Bill ® benefits. Students who request veteran’s educational assistance are required to have all previous post-secondary experience evaluated for possible transfer credit in order to be eligible for benefits. For more information, contact the Registrar’s Office.