Financial Aid Policies
Archived: 2026-04-23 17:15
Financial Aid Policies
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Financial Aid Policies
Return Of Title IV Funds Policy
If a student withdraws from all coursework in a semester while they have Title IV funds (excluding Federal Work Study):
The College must review the student’s Title IV eligibility as required by the federal government
The College will use the federal-mandated formula to determine the level of funding the student has “earned” and what they will be able to keep at the time of withdrawal from the College - this process is called “Return of Title IV Aid”
Specifics on Withdrawal
Withdrawing before the 10th class day of the semester
All federal aid will be returned and tuition & fees from the college will be reversed
Room and meal charges will be based on the amount of time spent as a resident on campus
Eureka financial aid will be returned to the College
Withdrawing from all coursework prior to completing 60% of the semester while being enrolled past the 10th class day of the semester
All direct charges from the university, federal aid, and Eureka aid will be determined based on the percentage of the semester that has passed - the federal government gives the College the information on how to properly do this
Funds will be placed into the students account if they are owed any disbursement
If a student is disbursed more than they are owed, they must return the excess funds to the federal government within 45 days of the student’s withdrawal (withdrawal date is based upon the last day of class attendance)
Completed more than 60% of the semester
Student is considered to have “earned” all of their financial aid
No refund of federal funds, college aid, or charges are needed
Types of Withdrawal
Official Withdrawal
The student must contact the Registrar’s Office and process an “Exit Ticket”
All indicated signatures on the form must be obtained by the student and then returned to the Registrar’s office to be completed with the Registrar’s signature
Failure to complete this procedure will result in grades of “F” for all courses not completed and may result in forfeiting any funds due to the student
Unofficial Withdrawal
If the student fails to follow the “Exit Ticket” process their withdrawal is considered unofficial
A student is considered unofficially withdrawn if they stop attending classes and do not provide official notice to the college
The student will receive grades of “F” for all courses
The Registrar will work with the instructors to determine the last day of class attendance or other academic activity to determine the withdrawal date
Returning Funds
Funds that students return to the Federal Government are used to reduce the outstanding balances in individual federal programs.
Financial aid returned will be used in the following order:
Federal Unsubsidized Direct Loans
Federal Subsidized Direct Loans
Perkins Loan
Federal Direct Parent (PLUS) Loans
Federal Pell Grants
Federal SEOG Grants
Federal TEACH Grants
Owed:
If a student is owed any funds, it will be processed. The student will receive the funds within 14 days after initial processing as per the Credit Balance Refund Policy.
Loans:
If a student elected to take loans before a withdrawal, the college will reach out to the student before dispersing those loans. The student may then decide if they will decline or accept the loans.
Use of Funds:
If the student is owed funds after withdrawal, the College may use all or part of those funds to cover tuition and fees for that student. The College will ask permission from the student before using the returned funds for any other costs.
Refund of Funds from the Illinois Student Assistance Commission Monetary Award Program (MAP)
If the MAP-receiving student withdraws after the 10th class day of the semester, they will get a MAP payment to go towards costs for that semester as long as the College determines that charges in the amount of the claim have been incurred.
Loan Exit Interview Required
Students who borrow through the Federal Direct Loan program are required to complete an exit interview online. It is required that a student be informed of their rights and their responsibilities as a borrower through a federal program.
Refund of Institutional Financial Aid Policy
Institutional financial aid may consist of Eureka College scholarships, awards, and grants. The refund or cancellation of financial aid will be given proportionally to the time the student was enrolled. See the above section titled, "Specifics on Withdrawl" for more information.
Satisfactory Academic Progress Policy (SAP)
Any change of status is made in accordance with policies established by the Academic Standards and Policies Committee. Decisions on student academic status will be made at the end of the Fall and Spring Semesters, and at the end of the Summer Session.
Requirements for Good Academic Standing
–
A student is in Good Standing as long as that individual maintains a 2.0 GPA (first semester freshman 1.75) and earns sufficient hours toward the degree each academic year and within a specified time limit. This is known as
Satisfactory Academic Progress
.
Satisfactory Academic Progress (SAP) policies are applied to determine two kinds of eligibility:
Eligibility for continued enrollment at Eureka College, and
Eligibility for Title IV federal financial aid.
Eligibility for other activities may also depend upon a student making Satisfactory Academic Progress.
Satisfactory Academic Progress is measured by three standards:
Qualitative Standard
– minimum 2.0 GPA
Quantitative Standard
– must pass 66.667% of classes attempted each semester
Maximum Timeframe
– must complete degree within 150% of the program length measured in semester hours
Qualitative Standard –
All students must maintain a cumulative grade point average of 2.00. Students in their first semester of enrollment at Eureka College must earn a grade point average of at least 1.75, but must maintain a 2.00 in all following semesters.
The grade points are assigned to each letter grade as follows:
Grade Grade Points/Semester Hour
A 4.00
A- 3.67
B+ 3.33
B 3.00
B- 2.67
C+ 2.33
C 2.00
C- 1.67
D+ 1.33
D 1.00
D- 0.67
F 0.00
W 0.00
I 0.00
total grade points earned
*only Eureka College coursework is considered in GPA & Qualitative SAP
Failure to maintain the Qualitative Standard results in the loss of eligibility of Title IV aid and loss of eligibility to continue enrollment at Eureka College. NCAA Division III eligibility also requires the student-athlete to be meeting the Qualitative Standard.
Quantitative Standard –
All students must earn at least 66.667% of the cumulative semester hours they have registered for after each semester of enrollment.
Failure to maintain the Quantitative Standard results in the loss of eligibility for Title IV aid, but not in eligibility to continue enrollment at Eureka College.
Maximum Timeframe –
All students must complete their degrees within 150% of the program length, measured in semester hours. The bachelor’s degree at Eureka College requires 120 semester hours, so students must finish their degree within 180 credit hours.
Failure to maintain the Maximum Timeframe standard results in the loss of eligibility for Title IV aid, but not in eligibility to continue enrollment at Eureka College.
Satisfactory Academic Progress will be evaluated three times per year - at the end of the Fall Semester, Spring Semester, and Summer Session.
Withdrawals, Incompletes, Repetitions, and Remedial Courses
Transfer credits accepted by Eureka College are included in:
Calculation of the cumulative hours attempted and earned in the Quantitative Standard of Satisfactory Academic Progress
Calculation of the maximum timeframe to completion
Incomplete and Withdrawn Credits:
Included as attempted hours when assessing if the student meets the
Quantitativ
e Standard
Not included in the calculation of the cumulative GPA for the
Qualitative
Standard of SAP
If an incomplete grade is updated, it will then be included in GPA calculation
Remedial courses (ENG095R and MAT095R) are not included SAP considerations
Repeated Courses:
Most recent grade is used to calculate GPA
All attempts are included to assess
Quantitative
Standard
Changing of Major/Program
Change of Major will still require students to meet the Maximum Timeframe standard
All coursework taken will continue to be counted in the Qualitative and Quantitative Standards outlined above
Student’s SAP status will transfer from program to program
Academic Warning
Definition
Students whose cumulative GPA falls below 2.00 (1.75 for first semester students) but is at or above 0.50
Solution
Must end the warning semester with a semester GPA of 2.00, or be subject to Academic Dismissal
If the student’s cumulative GPA does not also raise to a 2.00, they will be placed on Academic Probation (below)
Limitations for those in Academic Warning
May not participate in NCAA Division III athletics as per their bylaws
May not participate in co-curricular activities
May not take more than 12 credit hours per semester if GPA is below 1.00 (must also have an Academic Success Agreement on file with the Registrar’s Office)
Academic Probation
Definition
Students with a semester GPA of 2.00 or higher but a cumulative GPA below 2.00
Solution
Must end the warning semester with a cumulative GPA of 2.00 or will face Academic Dismissal (below)
Limitations for those in Academic Warning
Same as Academic Warning (above)
Academic Dismissal
Circumstances for Academic Dismissal
Cumulative GPA falls below 0.50
Students on Academic Warning who fail to earn a 2.00 semester GPA
Students on Academic Probation who fail to raise their cumulative GPA to 2.00
Readmission Applications
Will be considered after a period of at least one academic year
Subject to approval by the Academic Standards and Policies Committee.
Financial Aid Warning, Probation and Suspension
Financial Aid Warning
Failing to meet the Qualitative and/or Quantitative Standard of Satisfactory Academic Progress (above) for the next semester of enrollment
Financial Aid Suspension
Failing to meet the standards by the end of the warning semester
Eligibility for Title IV federal and/or state aid will be lost
Students have the Right to Appeal - successful appeals will restore financial aid eligibility for 1 semester for students to get into Good Standing
Appeals (SAP)
Academic Appeals* (Academic Standards and Policies Committee**)
Consider appeals from students who are not meeting the Qualitative Standard of SAP
Student must submit an Academic Appeal Form to the Registrar, who will send the appeal to the Academic Standards and Policies Committee
Committee will determine the student's continued eligibility for enrollment at Eureka College even though the student is not meeting the SAP standards
Appeals may be granted only in special situations such as serious injury, illness, the death of a relative, etc.
*Students cannot appeal the academic status of Academic Warning or Academic Probation, but may appeal an Academic Dismissal. Students who successfully appeal their Academic Dismissal but fail to meet SAP standards in the next semester of enrollment are not permitted further appeal.
**The Academic Standards and Policies Committee meets in early January to hear appeals from the Fall Semester, in late May to hear appeals from the Spring Semester, and in early August to hear appeals from the Summer Session.
Financial Aid Suspension Appeals
Student must be on Financial Aid Suspension
Student may appeal in writing to the Director of Financial Aid for reinstatement of eligibility
Appeals may be granted only in special situations, such as the death of a relative, an injury or illness of the student, etc.
The student must explain
in writing
:
The circumstance that interrupted their ability to perform academically
What has changed in the student’s situation that will allow the student to demonstrate SAP during the next semester
If an appeal is granted:
Student is placed on Financial Aid Probation and financial aid is restored for 1 semester for the student to get into Good Standing
If at the end of the probation semester, a student does not regain Good Standing, they will lose their Title IX aid and will be placed on Financial Aid Suspension*
*Second appeals to a Financial Aid Suspension are only considered if the student’s second appeal reason is different from the first reason. A student may not appeal a Financial Aid Suspension more than two times.
Credit Balance Policy
A credit balance results when the total of credits posted to a student’s account (e.g., payments, loan disbursements, scholarships, etc.) exceeds the total of the charges applied or applicable to the account for a specific semester.
Credit Balances due to overpayment or other non-federal student aid funds:
Funds will be placed on the student account and roll over to the next semester
To get the funds in a check:
Submit a written request to the Business Office and a check will be issued with 14 days
Credit Balances due to federal aid (Title IV) funds:
Federal Student Loan(s) Financial Aid Disbursement Notice
A student will be notified by the Eureka College Business Office via
the
student’s Eureka College email address
each semester when disbursement of Federal Student Loan(s) has been applied to the student’s account
This notice has two purposes:
To inform the student the federal loan money was received and the student has the right to cancel all or part of any loan disbursements within 14 days from the date of the notice.
If the student’s account has a credit balance as a result from the Federal Student Loan, the student must decide how the credit balance will be handled as outlined in the disbursement notice.
Federal Parent Plus Loan Financial Aid Disbursement Letter
The borrowing parent of the Federal Parent Plus Loan will be notified by the Eureka College Business Office
by mail
each semester when disbursement of a Federal Plus Loan has been applied to their student’s account
This notice has two purposes:
To inform the parent the Federal Plus Loan money was received and the parent has the right to cancel all or part of any loan disbursements within 14 days from the date of the notice.
If the student’s account has a credit balance as a result from the Plus Loan, the parent must decide how the credit balance will be handled within 14 days as outlined in the disbursement notice.
Search
ECTV
EC 103.1 FM
(888) 438-7352
EN
Apply
Deposit
Visit
Donate
Calendar
Info
Faculty
Home
/
Admissions & Financial Aid
/
Financial Aid & VA Benefits
/
Financial Aid Policies
Financial Aid Policies
Return Of Title IV Funds Policy
If a student withdraws from all coursework in a semester while they have Title IV funds (excluding Federal Work Study):
The College must review the student’s Title IV eligibility as required by the federal government
The College will use the federal-mandated formula to determine the level of funding the student has “earned” and what they will be able to keep at the time of withdrawal from the College - this process is called “Return of Title IV Aid”
Specifics on Withdrawal
Withdrawing before the 10th class day of the semester
All federal aid will be returned and tuition & fees from the college will be reversed
Room and meal charges will be based on the amount of time spent as a resident on campus
Eureka financial aid will be returned to the College
Withdrawing from all coursework prior to completing 60% of the semester while being enrolled past the 10th class day of the semester
All direct charges from the university, federal aid, and Eureka aid will be determined based on the percentage of the semester that has passed - the federal government gives the College the information on how to properly do this
Funds will be placed into the students account if they are owed any disbursement
If a student is disbursed more than they are owed, they must return the excess funds to the federal government within 45 days of the student’s withdrawal (withdrawal date is based upon the last day of class attendance)
Completed more than 60% of the semester
Student is considered to have “earned” all of their financial aid
No refund of federal funds, college aid, or charges are needed
Types of Withdrawal
Official Withdrawal
The student must contact the Registrar’s Office and process an “Exit Ticket”
All indicated signatures on the form must be obtained by the student and then returned to the Registrar’s office to be completed with the Registrar’s signature
Failure to complete this procedure will result in grades of “F” for all courses not completed and may result in forfeiting any funds due to the student
Unofficial Withdrawal
If the student fails to follow the “Exit Ticket” process their withdrawal is considered unofficial
A student is considered unofficially withdrawn if they stop attending classes and do not provide official notice to the college
The student will receive grades of “F” for all courses
The Registrar will work with the instructors to determine the last day of class attendance or other academic activity to determine the withdrawal date
Returning Funds
Funds that students return to the Federal Government are used to reduce the outstanding balances in individual federal programs.
Financial aid returned will be used in the following order:
Federal Unsubsidized Direct Loans
Federal Subsidized Direct Loans
Perkins Loan
Federal Direct Parent (PLUS) Loans
Federal Pell Grants
Federal SEOG Grants
Federal TEACH Grants
Owed:
If a student is owed any funds, it will be processed. The student will receive the funds within 14 days after initial processing as per the Credit Balance Refund Policy.
Loans:
If a student elected to take loans before a withdrawal, the college will reach out to the student before dispersing those loans. The student may then decide if they will decline or accept the loans.
Use of Funds:
If the student is owed funds after withdrawal, the College may use all or part of those funds to cover tuition and fees for that student. The College will ask permission from the student before using the returned funds for any other costs.
Refund of Funds from the Illinois Student Assistance Commission Monetary Award Program (MAP)
If the MAP-receiving student withdraws after the 10th class day of the semester, they will get a MAP payment to go towards costs for that semester as long as the College determines that charges in the amount of the claim have been incurred.
Loan Exit Interview Required
Students who borrow through the Federal Direct Loan program are required to complete an exit interview online. It is required that a student be informed of their rights and their responsibilities as a borrower through a federal program.
Refund of Institutional Financial Aid Policy
Institutional financial aid may consist of Eureka College scholarships, awards, and grants. The refund or cancellation of financial aid will be given proportionally to the time the student was enrolled. See the above section titled, "Specifics on Withdrawl" for more information.
Satisfactory Academic Progress Policy (SAP)
Any change of status is made in accordance with policies established by the Academic Standards and Policies Committee. Decisions on student academic status will be made at the end of the Fall and Spring Semesters, and at the end of the Summer Session.
Requirements for Good Academic Standing
–
A student is in Good Standing as long as that individual maintains a 2.0 GPA (first semester freshman 1.75) and earns sufficient hours toward the degree each academic year and within a specified time limit. This is known as
Satisfactory Academic Progress
.
Satisfactory Academic Progress (SAP) policies are applied to determine two kinds of eligibility:
Eligibility for continued enrollment at Eureka College, and
Eligibility for Title IV federal financial aid.
Eligibility for other activities may also depend upon a student making Satisfactory Academic Progress.
Satisfactory Academic Progress is measured by three standards:
Qualitative Standard
– minimum 2.0 GPA
Quantitative Standard
– must pass 66.667% of classes attempted each semester
Maximum Timeframe
– must complete degree within 150% of the program length measured in semester hours
Qualitative Standard –
All students must maintain a cumulative grade point average of 2.00. Students in their first semester of enrollment at Eureka College must earn a grade point average of at least 1.75, but must maintain a 2.00 in all following semesters.
The grade points are assigned to each letter grade as follows:
Grade Grade Points/Semester Hour
A 4.00
A- 3.67
B+ 3.33
B 3.00
B- 2.67
C+ 2.33
C 2.00
C- 1.67
D+ 1.33
D 1.00
D- 0.67
F 0.00
W 0.00
I 0.00
total grade points earned
*only Eureka College coursework is considered in GPA & Qualitative SAP
Failure to maintain the Qualitative Standard results in the loss of eligibility of Title IV aid and loss of eligibility to continue enrollment at Eureka College. NCAA Division III eligibility also requires the student-athlete to be meeting the Qualitative Standard.
Quantitative Standard –
All students must earn at least 66.667% of the cumulative semester hours they have registered for after each semester of enrollment.
Failure to maintain the Quantitative Standard results in the loss of eligibility for Title IV aid, but not in eligibility to continue enrollment at Eureka College.
Maximum Timeframe –
All students must complete their degrees within 150% of the program length, measured in semester hours. The bachelor’s degree at Eureka College requires 120 semester hours, so students must finish their degree within 180 credit hours.
Failure to maintain the Maximum Timeframe standard results in the loss of eligibility for Title IV aid, but not in eligibility to continue enrollment at Eureka College.
Satisfactory Academic Progress will be evaluated three times per year - at the end of the Fall Semester, Spring Semester, and Summer Session.
Withdrawals, Incompletes, Repetitions, and Remedial Courses
Transfer credits accepted by Eureka College are included in:
Calculation of the cumulative hours attempted and earned in the Quantitative Standard of Satisfactory Academic Progress
Calculation of the maximum timeframe to completion
Incomplete and Withdrawn Credits:
Included as attempted hours when assessing if the student meets the
Quantitativ
e Standard
Not included in the calculation of the cumulative GPA for the
Qualitative
Standard of SAP
If an incomplete grade is updated, it will then be included in GPA calculation
Remedial courses (ENG095R and MAT095R) are not included SAP considerations
Repeated Courses:
Most recent grade is used to calculate GPA
All attempts are included to assess
Quantitative
Standard
Changing of Major/Program
Change of Major will still require students to meet the Maximum Timeframe standard
All coursework taken will continue to be counted in the Qualitative and Quantitative Standards outlined above
Student’s SAP status will transfer from program to program
Academic Warning
Definition
Students whose cumulative GPA falls below 2.00 (1.75 for first semester students) but is at or above 0.50
Solution
Must end the warning semester with a semester GPA of 2.00, or be subject to Academic Dismissal
If the student’s cumulative GPA does not also raise to a 2.00, they will be placed on Academic Probation (below)
Limitations for those in Academic Warning
May not participate in NCAA Division III athletics as per their bylaws
May not participate in co-curricular activities
May not take more than 12 credit hours per semester if GPA is below 1.00 (must also have an Academic Success Agreement on file with the Registrar’s Office)
Academic Probation
Definition
Students with a semester GPA of 2.00 or higher but a cumulative GPA below 2.00
Solution
Must end the warning semester with a cumulative GPA of 2.00 or will face Academic Dismissal (below)
Limitations for those in Academic Warning
Same as Academic Warning (above)
Academic Dismissal
Circumstances for Academic Dismissal
Cumulative GPA falls below 0.50
Students on Academic Warning who fail to earn a 2.00 semester GPA
Students on Academic Probation who fail to raise their cumulative GPA to 2.00
Readmission Applications
Will be considered after a period of at least one academic year
Subject to approval by the Academic Standards and Policies Committee.
Financial Aid Warning, Probation and Suspension
Financial Aid Warning
Failing to meet the Qualitative and/or Quantitative Standard of Satisfactory Academic Progress (above) for the next semester of enrollment
Financial Aid Suspension
Failing to meet the standards by the end of the warning semester
Eligibility for Title IV federal and/or state aid will be lost
Students have the Right to Appeal - successful appeals will restore financial aid eligibility for 1 semester for students to get into Good Standing
Appeals (SAP)
Academic Appeals* (Academic Standards and Policies Committee**)
Consider appeals from students who are not meeting the Qualitative Standard of SAP
Student must submit an Academic Appeal Form to the Registrar, who will send the appeal to the Academic Standards and Policies Committee
Committee will determine the student's continued eligibility for enrollment at Eureka College even though the student is not meeting the SAP standards
Appeals may be granted only in special situations such as serious injury, illness, the death of a relative, etc.
*Students cannot appeal the academic status of Academic Warning or Academic Probation, but may appeal an Academic Dismissal. Students who successfully appeal their Academic Dismissal but fail to meet SAP standards in the next semester of enrollment are not permitted further appeal.
**The Academic Standards and Policies Committee meets in early January to hear appeals from the Fall Semester, in late May to hear appeals from the Spring Semester, and in early August to hear appeals from the Summer Session.
Financial Aid Suspension Appeals
Student must be on Financial Aid Suspension
Student may appeal in writing to the Director of Financial Aid for reinstatement of eligibility
Appeals may be granted only in special situations, such as the death of a relative, an injury or illness of the student, etc.
The student must explain
in writing
:
The circumstance that interrupted their ability to perform academically
What has changed in the student’s situation that will allow the student to demonstrate SAP during the next semester
If an appeal is granted:
Student is placed on Financial Aid Probation and financial aid is restored for 1 semester for the student to get into Good Standing
If at the end of the probation semester, a student does not regain Good Standing, they will lose their Title IX aid and will be placed on Financial Aid Suspension*
*Second appeals to a Financial Aid Suspension are only considered if the student’s second appeal reason is different from the first reason. A student may not appeal a Financial Aid Suspension more than two times.
Credit Balance Policy
A credit balance results when the total of credits posted to a student’s account (e.g., payments, loan disbursements, scholarships, etc.) exceeds the total of the charges applied or applicable to the account for a specific semester.
Credit Balances due to overpayment or other non-federal student aid funds:
Funds will be placed on the student account and roll over to the next semester
To get the funds in a check:
Submit a written request to the Business Office and a check will be issued with 14 days
Credit Balances due to federal aid (Title IV) funds:
Federal Student Loan(s) Financial Aid Disbursement Notice
A student will be notified by the Eureka College Business Office via
the
student’s Eureka College email address
each semester when disbursement of Federal Student Loan(s) has been applied to the student’s account
This notice has two purposes:
To inform the student the federal loan money was received and the student has the right to cancel all or part of any loan disbursements within 14 days from the date of the notice.
If the student’s account has a credit balance as a result from the Federal Student Loan, the student must decide how the credit balance will be handled as outlined in the disbursement notice.
Federal Parent Plus Loan Financial Aid Disbursement Letter
The borrowing parent of the Federal Parent Plus Loan will be notified by the Eureka College Business Office
by mail
each semester when disbursement of a Federal Plus Loan has been applied to their student’s account
This notice has two purposes:
To inform the parent the Federal Plus Loan money was received and the parent has the right to cancel all or part of any loan disbursements within 14 days from the date of the notice.
If the student’s account has a credit balance as a result from the Plus Loan, the parent must decide how the credit balance will be handled within 14 days as outlined in the disbursement notice.