Financial Aid FAQs
When it comes to paying for college, we want to help our students to have access to the many possible options available. Be sure to know the benefits and costs of each option and select the ones that best match your life goals.
Financial aid is money that helps students pay for college or career certifications. It can come from the federal government, state government, schools, or private organizations.
Federal and State Grants
Government funds that are typically based on financial need and usually don’t need to be repaid.
APU Scholarships
Scholarships issued by APU. These may be based on academic achievement, financial need, or other criteria. Scholarships do not need to be paid back, but certain academic standards are typically required to keep them. Most scholarships require students to apply each year. Typically, APU scholarships only apply to tuition and fees.
APU Promise Grant or Waiver
This special type of APU aid is awarded to students with the greatest financial need. The Promise Tuition Grant works differently than other APU scholarships. The amount of tuition remaining, after other APU scholarships and government aid is applied, is the amount that will be granted ensuring no tuition cost is covered by the student.
“Outside” Scholarships
Scholarships that are not issued by APU. Typically, students will apply to outside scholarships directly with the organization awarding the scholarship. Sometimes the funds will be issued to the student and sometimes the funds will be issued directly to the university to apply to the student’s account. If funds awarded exceed the student’s account balance and the scholarship allows, students will receive a refund up-to the amount of the cost of attendance to cover other expenses.
Work-study jobs
These are on-campus jobs that pay a student wage. Students find APU work study jobs through handshake, a portal that links students to jobs.
Federal and State Student Loans and Private Loans
Loans must be repaid. Students should pay close attention to the terms of the loan.
Complete a FAFSA: The most-important step to take is to fill out the Free Application for Federal Student Aid (FAFSA). The FAFSA is available starting October 1st for the following academic year. Complete your FAFSA at www.studentaid.gov several months before classes begin according to school-published deadlines. When prompted, use APU’s FAFSA code: 001061.
Submit scholarship applications: There are two types of APU scholarships, Core scholarships are awarded based on meeting a criteria and Selective which are competitive and selected by a committee. Complete the APU OneAPP to be eligible. Some selective scholarships require additional application questions or documentation. Outside scholarships have unique applications outside of APU.
Get good grades: It’s important to stay on track and attain the highest grades you can in classes. The higher your grades and academic achievements, the better chance you’ll have of receiving merit scholarships and keeping them.
Get involved: Some scholarships and grants are given to individuals who volunteer or work serving a special cause.
Students employ many methods outside of financial aid to help pay for college. Consider all of your options and choose the one that is best for you.
Work part time during school as well as in the summer is a great way to help pay for classes.
Family savings, advance placement courses in high school, and taking courses online are also great options.
Some employers will even pay for further education, including college degrees, for their employees that wish to continue in their field.
The Cost of Attendance includes all tuition, fees, and an estimated amount for indirect costs such as housing, food, books, transportation, and other expenses. The Cost of Attendance must be estimated and published.
Direct costs include Tuition and Fees, which is the amount for classes and instruction. Many scholarships and most governmental aid covers up to the cost of attendance. Some scholarships are limited to tuition or the direct costs of tuition and fees.
Satisfactory Academic Progress (SAP) is used to define successful completion of coursework to maintain eligibility for student financial aid. Federal regulations require Alaska Pacific University (APU) to establish, publish and apply standards to monitor student progress toward completion of a degree program. All students who receive financial aid, whether from federal, state or APU-funded sources, must be enrolled degree candidates in good standing to retain financial aid awards. Please be advised, however, that some scholarships and waivers may have higher GPA or other standards for continued receipt. Students who fail to meet these standards will be placed on financial aid warning or suspension. Student academic performance must meet the three SAP standards below and will be evaluated each semester to determine the subsequent semester eligibility for financial aid.
1) Grade Point Average (GPA): Undergraduate students are required to maintain a minimum cumulative GPA of 2.00. Graduate students are required to maintain a minimum cumulative GPA of 3.00, with no semester falling below 2.50. Only the most recent grade of a repeated course will be used in the calculation of the cumulative GPA.
2) Percentage of courses passed (Completion Rate): All students must maintain a minimum of 66.7% completion rate of cumulative attempted credit hours. The total number of credits attempted to date (including any course enrolled past the drop/add period) will be compared to the total number of credits earned. Courses taken under a written agreement (e.g. a consortium or contractual agreement) are also included in a student’s completion rate calculation. Grades of F, I, W, WU, and NC indicate unsatisfactory completion (unearned) for financial aid purposes. An incomplete grade (I) will be treated as an “F” until work is completed and the grade is recorded. Students may not receive federal aid for a course repeated a second time (third time taking a course).
3) Time to degree completion (Maximum Timeframe): Also known as the 150% Rule, students are eligible to receive financial aid for a maximum timeframe of 150 percent of the published credits required to complete a degree program or until it becomes mathematically impossible for a student to complete the program within 150% of its length. For example, if a degree program requires 64 credits students are eligible for aid up to 96 credits; or if a degree program requires 128 credits students are eligible for aid up to 192 credits. Monitoring begins from the first credit attempted, regardless of whether or not the student received federal financial aid. Any credit-based course, including transferred courses or repeated courses, are included in this calculation. All enrollment periods count toward maximum time frames, regardless of a change in degree or major or whether or not aid was received. A double major, minor and/or concentration does not increase the maximum timeframe. A dual degree (e.g. BA and BS; or bachelor’s plus master’s combined program) may increase the maximum timeframe. Unrelated credits toward the degree program may be reviewed and removed from the calculation on an individual case basis only (e.g. unrelated transferred military credits, or unrelated transferred bachelor’s credits to associate degree.). If a student meets the degree requirements for graduation, they are no longer eligible for federal, state, and institutional financial aid for that degree.
Monitoring SAP Eligibility: Warning, Suspension, Appeal, and Probation
SAP Warning: Students who fail to complete the required minimum number of credits to maintain the 66.7% completion rate of attempted hours or fail to meet the required minimum cumulative grade point average will be placed on warning for the subsequent semester. All students placed on warning will receive a letter of current eligibility status. Students on warning will be eligible to receive federal and state financial aid during their semester of warning; however, students on warning after the spring semester evaluation period for institutional aid will not be eligible to receive institutional aid during their semester of warning. Students placed on warning and their advisors will see an alert message in the university’s CAMS software system. Failure to regain good standing within the one semester of warning will result in the suspension of federal and state financial aid.
SAP Suspension: Students whose academic records fall below the minimum SAP standards stated above after the warning semester or upon reaching the maximum timeframe will be suspended from receiving future federal, state, and institutional financial aid payments. Suspended students may appeal their SAP status and, if approved, be placed on Probation to receive federal and state financial aid for a probationary semester. Students who do not appeal or do not have an appeal approved remain on suspension and may attend APU without the use of federal, state or institutional aid until SAP conditions are met.
SAP Appeal: A student whose financial aid has been suspended may submit a written appeal of extenuating circumstances to the Financial Aid office. Extenuating circumstances may include but are not limited to: illness, accident, injury, death, divorce, personal problems, regional or national emergencies; successfully following a prescribed academic plan; or degree extension (dual/second degree). The student must complete an APU SAP Appeal form and submit all supporting documentation prior to the semester bill due date for guaranteed review by the semester start date. Appeal forms are available in the Financial Aid office. Appeals are reviewed by the Financial Aid Appeals committee and all decisions are final. Students who successfully appeal are placed on SAP probation.
SAP Probation: Students who have successfully appealed their SAP suspension are placed on SAP probation and will be eligible to receive federal, state and institutional aid during their semester of probation. Students placed on probation and their advisors will see an alert message in the university’s CAMS software system warning them of the probation status. Students who, at the conclusion of the probationary period, are making satisfactory academic progress will have their financial aid reinstated unconditionally for the next term. Failure to meet the requirement of the approval within the one semester of probation will result in the suspension of federal, state, and institutional aid.
Other SAP Eligibility Factors
Audited courses: Audited courses, in which no grade is earned, may be excluded from the completion rate and maximum time frame measures.
Early Honors: Credits earned as an Early Honors student at APU will be included in the cumulative completed credits percentage, GPA, and the maximum attempted credits calculation. Credits earned at another postsecondary institution which count towards an APU degree will be treated as transfer credits.
Extensions: A student adding a second degree or changing majors may request an extension of the maximum attempted credits provision of this policy by submitting a SAP appeal. Students pursuing a second degree or teacher certification must complete degree/certification requirements within 2 years of full-time enrollment.
Military service: For students who are required to withdraw for mandated military reasons, percentage of courses passed and time to degree completion requirements will be waived for the semester of official withdrawal.
Other courses: If offered toward the completion of a regular program (degree or certificate): remedial, enrichment, or ESL courses impact a student’s SAP standing.
Withdraws: Students who consider withdrawing from some or all of their courses during a semester are urged to seek academic and financial aid advising to review the impact of withdrawal. Timing of withdrawal determines marks on transcripts, SAP eligibility, loss/return of financial aid funds, and the student account balance.
