Financial Aid Policies

Adler Graduate School’s (AGS) officers, employees, Board of Directors, and agents (including such groups as the alumni board) comply with the AGS’s code of conduct governing educational loan activities.

In accordance with the College’s ethical standards and Sections 487(a)(25) and 487(e) of the amended Higher Education Act of 1965, the code of conduct prohibits revenue-sharing agreements; receipt of gifts or other compensation from lenders; the assignation of any particular lender to first-time borrowers; a refusal to certify or delay certification of a loan based upon a student or parent’s choice of lender; loan volume guarantees or agreements with any lender; and staffing arrangements with any lender, guarantor, or servicer of education loans. AGS employees who serve on advisory boards or similar groups established by lenders do not receive compensation of any kind for their service.

A detailed code of conduct has been provided to all AGS officers, employees, members of the Board of Directors, and agents affiliated with the College.

Some foreign students are eligible for U.S. federal student financial aid. You are considered an ” eligible non-citizen ” if you are a:

Non-citizen with an Arrival-Departure Record (Form I-94) from the U.S. Department of Homeland Security showing any one of the following designations: (a) “Refugee,” (b) “Asylum Granted,” (c) “Conditional Entrant” (if that status was issued before 4/1/1980); (d) “Parolee” with a date that has not expired; (e) “Cuban- Haitian Entrant.”

International Students

Once admitted to Adler Graduate School international students must complete a Certification of Finances form.  All international students are required to provide proof of sufficient financial resources to pay for tuition and living expenses.  After the school has determined that the student has sufficient financial resources, an I-20 will be issued. To obtain an F-1 student visa, contact the U.S. Consulate in your area. International students who come to Adler with an F-1 student visa must be self-supporting; international students are not eligible for U.S. federal financial aid. International students may qualify for a SELF loan through the state of Minnesota, if they have a credit-worthy co-signer who is a U.S. citizen or permanent resident.

To maintain eligibility for federal financial aid, students must make satisfactory academic progress (SAP) toward the completion of their degrees.  Academic progress is measured qualitatively and quantitatively.

Complete Satisfactory Academic Progress Policy (PDF)

How Withdrawing from Coursework Affects Federal Financial Aid

Federal financial aid eligibility at Adler Graduate School (AGS) is calculated based on an expectation that the recipient will remain enrolled throughout the term for which the aid is awarded.

Each student’s financial aid is “earned” in proportion to the length of time the student is enrolled. If a student completely withdraws from AGS prior to the end of the term for any reason (including family emergencies or medical reasons), a calculation is performed to determine the percentage of financial aid that was “earned” prior to the withdrawal. Any “unearned” funds are returned to the federal financial aid program. 

The amount of earned and unearned financial aid is determined using the “Return to Title IV” (R2T4) calculation that is required by the U.S. Department of Education (ED). According to R2T4:

The percent of financial aid that is earned is equal to the number of calendar days completed by the student up to the withdrawal date, divided by the total number of calendar days in the term (excluding any scheduled breaks of five days or longer). The payment period for most students is the entire term. If the student completed 60% of the term or more, the student is determined to have “earned” all the Title IV aid for that term.
The percent of unearned financial aid is equal to 100 percent minus the percent earned.

Determining the Effective Withdrawal Date or Last Date of Attendance

The withdrawal date used in the R2T4 calculation is the actual date indicated on the official drop request that is submitted to the AGS Registrar. If a student stops attending classes without notifying AGS, the withdrawal date will be the last date of attendance as recorded by the instructor. If the instructor cannot provide attendance records, the effective withdrawal date will be the midpoint of the term or the last date of academic activity determined by AGS, whichever is later.

AGS must establish the withdrawal date to be used in the R2T4 calculation no later than 30 days after the end of the affected term. Documentation supporting the last date of academic activity may be provided by the student to establish a withdrawal date that differs from the withdrawal date determined by AGS. Such documentation must be submitted to the Director of Financial Aid within 30 days of the last date of the term. No recalculations of aid eligibility will be performed after that date.

Special Circumstances:

Student Fails to Enroll

If a student receives Title IV financial aid, but never attends classes, AGS’s Financial Aid Office must return all disbursed funds to the federal aid programs.

Student Fails to Earn a Passing Grade in Any Course

If the student has not completely withdrawn but has failed to earn a passing grade in at least one class for the term, federal regulations require AGS to determine whether the student established eligibility for financial aid. A student establishes eligibility by attending at least one class or participating in any academic-related activity. If eligibility cannot be established, all disbursed funds must be returned to the federal aid programs. 

Steps for Implementation of R2T4

Step 1: Student’s Title IV information

AGS’s Financial Aid Office will determine:

The total amount of Title IV aid disbursed for the term during which the student withdrew. Aid is considered to have been disbursed if it has been credited to the student’s account on or before the date the student withdrew.
The total amount of Title IV aid disbursed, plus the Title IV aid that could have been disbursed for the semester during which the student withdrew.

Step 2: Percentage of Title IV aid earned

AGS’s Financial Aid Office will calculate the percentage of Title IV aid earned by dividing

the number of calendar days completed by the student up to the withdrawal date by the total number of calendar days in the term (excluding any scheduled breaks of five days or longer). If the calculated percentage completed exceeds 60%, then the student has “earned” all the Title IV aid for the enrollment period.

Step 3: Amount of Title IV aid earned by the student

AGS’s Financial Aid Office will calculate the amount of Title IV aid earned by multiplying the percentage of Title IV aid earned by the total amount of Title IV aid disbursed, plus the amount that could have been disbursed, for the term during which the student withdrew.

Step 4: Amount of aid to be returned the Title IV program or disbursed to the student

If the aid disbursed equals the earned aid, no further action is required.

If the aid disbursed is greater than the earned aid, the difference must be returned to the appropriate Title IV aid program (William D. Ford Federal Direct Loan Program). Unearned funds will be returned first to the Federal Direct Unsubsidized Loan and then to the Federal Direct Graduate PLUS Loan.

If the aid already disbursed is less than the earned aid, AGS’s Financial Aid Office will calculate a post-withdrawal disbursement.

R2T4 Timelines
 
Federal regulations require AGS to perform R2T4 calculations within 30 days of the date AGS determines the student has completely withdrawn from school. AGS must return any unearned funds owed to the Title IV program(s) as soon as possible, but not later than 45 days after the date AGS determines the student has completely withdrawn from school.
 
If the R2T4 calculation results in the student’s eligibility for a post-withdrawal disbursement, the student must be notified within 30 days of the date AGS determines the student has completely withdrawn from school. If the student accepts the post-withdrawal disbursement, AGS must issue the funds as soon as possible, but not later than 45 days after the date AGS determines the student has completely withdrawn from school.

Should you completely withdraw from Adler Graduate School, and you borrowed student loans through the federal direct loan program, you will need to complete Exit Counseling. Go to http://www.studentloans.gov; near the middle of the page under “Tools and Resources,” there is a link for Exit Counseling.  Click there and follow the prompts.  

You’ll be asked to read through information describing your rights and responsibilities as a borrower of federal student loan funds and to respond to some “quiz” questions.  You’ll also be required to provide reference information – the names and addresses of individuals that will know your whereabouts after your loans are in repayment.  The Financial Aid Office will receive confirmation electronically when you’ve completed the online counseling requirement.  

To monitor compliance with this federal regulation your transcript will not be released until you’ve completed the counseling exercise.