Expenses and Financial Aid

Tuition and Fees

Tuition, fees, room, and board expenses are proposed by Peru State College and approved by the Board of Trustees of the Nebraska State College System. We reserve the right to change tuition, fees, and other charges at any time. Refer to the College website at www.peru.edu/businessoffice for the most current rates for tuition, fees, room and board. Additional expenses for books, supplies, travel, and personal items varies for each student.

Tuition and fees, room, and board charges must be paid each term by the published payment deadline. Refer to the College website at www.peru.edu/businessoffice for billing and payment information. The due date for semester charges may also be found in myPSC > Student Accounts > Account Activity. Past due accounts not paid by the end of the fourth week of the term are subject to administrative withdrawal.

Aid Adjustments Due to Enrollment Changes/Ceasing to Attend

Aid (Grants, Loans, Work Study, Scholarships) are based on enrollment and attendance. Dropping a course, repeating a course, withdrawing from part or all courses, and/or ceasing to attend any/all courses may reduce how much aid a student is eligible for. Adjustments for individual course changes are processed throughout the semester. Adjustments for full withdrawals, or for students who cease to attend, are made within 30 days of the school being aware of the situation. A Return of Title IV funds calculation will be completed and students are notified of changes in amounts of federal aid. The recalculation of funds may result in a balance due to Peru State College, the Federal Government, and/or an outside donor or agency.

Veterans Benefits and Transition Act

Consistent with the Veterans Benefits and Transition Act of 2018, Section 3679 of title 38, United States Code, Section 103, Peru State College will not impose any penalties due to the delayed disbursement of a payment by the U.S. Department of Veteran Affairs on recipients of Chapter 31 and Chapter 33 VA Benefits. Peru State College will permit any covered individual to attend or participate in the course of education during the period beginning on the date on which the individual provides Peru State College a certificate of eligibility for entitlement to educational assistance under chapter 31 or 33, and ending on the earlier of the following dates: 1) The date on which payment from the VA is made to the institution or 2) 90 days after the date the institution certified tuition and fees following the receipt of the COE (Certificate of Eligibility).

Additionally, Peru State College will not require that a covered individual borrow additional funds, on any covered individual because of the individual’s inability to meet his or her financial obligations to Peru State College due to the delayed disbursement of funding from the Department of Veterans Affairs under chapter 31 or 33. A Covered Individual is any individual who is entitled to educational assistance under chapter 31, Vocational Rehabilitation, or chapter 33, Post 9/11 GI Bill® benefits, and has been verified by the school certifying official as benefit eligible. This requirement is limited to the portion of funds paid by VA.

”GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA)”

Applying for Financial Aid

Financial aid is available to most students planning to attend Peru State. Financial aid consists of scholarships, grants, work- study, and loans. At Peru State, aid is awarded to students based on qualifications and/or financial need. To be awarded Title IV Federal Financial Aid, a student must apply for admission in a degree seeking program, and complete a Free Application for Federal Student Aid (FAFSA) form. The FAFSA form determines a student’s eligibility for the various aid programs. For more information on the financial aid application process, please visit the College’s website at https://www.peru.edu/financialaid Students can monitor their financial aid status and awards through their myPSC account.

Federal and State Financial Aid

A student must complete the Free Application for Federal Student Aid (FAFSA) in order to be considered for federal financial aid. Students are encouraged to file their FAFSA as soon as possible after the FAFSA becomes available. It is recommended that students file their FAFSA by March15th.

• Pell Grants - The results of the Free Application for Federal Student Aid - (FAFSA) determine Pell Grant eligibility.
• Supplemental Educational Opportunity Grant - These grants are awarded to students with exceptional financial need. The student must also be Pell eligible.
• Federal Work-study - Work-study is a need-based program. The intent of work-study is to allow a student an opportunity to earn funds to help with college expenses and to reduce a student’s loan debt. A student can work a maximum of 20 hours per week.
• Federal Direct Loans Programs - Loans included in this program consist of Subsidized and Unsubsidized Direct Student Loans and Parent PLUS Loans. These are long-term low interest loans made available to students and/or parents. Student loan amounts vary depending on grade level and enrollment level.
• State Grant Programs - The recipient must show substantial need and be a Nebraska resident. This award must be approved by state officials before it can disburse to the student’s account.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant program -

This program provides grants for students who agree to serve as full-time teachers in a high-need field for four years of public or public school that services students from low-income families. Students must complete the FAFSA, be enrolled in a TEACH-Grant eligible program, be junior or senior status, and maintain a cumulative GPA of at least 3.25.

Requirements for Financial Aid

Financial aid awards are determined based on an academic year. Generally, amounts are credited equally per term of enrollment to the student’s bill. At the end of each term of enrollment, the Financial Aid Office will review academic records to ensure financial aid recipients are making satisfactory academic progress. It is important to note that changes in academic load (e.g., dropping, retaking, not attending and/or participating, or withdrawing from a class) may impact a student’s financial aid.

Satisfactory Academic Progress Standards for Financial Aid

Federal financial aid regulations require Peru State College to establish and enforce standards of Satisfactory Academic Progress (SAP). SAP is checked the first time a student applies for financial aid and prior to aid disbursement each term.

When SAP is checked for a student, all prior semesters of attendance are considered, even if the student did not receive financial aid for prior semesters.

Requirements

There are three requirements for Satisfactory Academic Progress:

1. Cumulative Grade Point Average (Cumulative GPA)
   1. ​Undergraduate 2.00
   2. Graduate 3.00
2. Cumulative Credit Completion Rate (Cumulative Pace)
   1. Cumulative pace is measured by dividing the cumulative number of completed credits by the cumulative number of attempted credits.
   2. Students must maintain a minimum cumulative pace of 67%. For financial aid purposes, a course is considered completed if a grade of A, B+, B, C+, D, D+, D, or CR is earned. Grades of F, NR, I, and W are considered attempted but not completed.
3. Maximum Attempted Credits Limit
   1. ​The maximum time frame for completing a degree is limited by federal regulations to 150% of the published number of credit hours required to complete the degree program.
      1. Undergraduate degree attempted credits limit: 180 attempted credits
      2. Graduate degree attempted credits limit: 54 attempted credits

Completed credits, transfer credits, College Level Examination Program (CLEP) credits, dual enrollment credits, and courses with grades of F, NR, I, and W all count towards the maximum attempted credits limit. The maximum attempted credits limit for students pursuing teacher certification or recertification will be determined on an individual basis.

SAP Statuses

Meets SAP

The Meets SAP status is assigned to students in two circumstances: 1) It is the student’s first semester at Peru State and 2) when, after their most recent semester, they meet all 3 standards of Satisfactory Academic Progress.

Warning

Students are placed on Warning status when, after their most recent semester of attendance, they are not meeting either their cumulative GPA, their cumulative Pace, or both. Students on Warning status are eligible to receive financial aid.

Suspension

Suspension status is assigned to students in three circumstances: 1) The student was on Warning status, and at the end of their warning semester, they do not meet the standards for cumulative GPA, cumulative Pace, or both, 2) the student has reached the maximum attempted credits limit, and 3) the student has not yet reached the maximum attempted credits limit, but it is not possible for the student to complete their program prior to reaching the maximum attempted credits limit.

There are two ways students with Suspension status can earn reinstatement: 1) Secure approval of an appeal (details below) or 2) pay on their own for one or more semesters until they meet all three satisfactory progress requirements, and then notify the Financial Aid Office.

Probation

When a Satisfactory Academic Progress appeal is approved for a suspended student, the student is placed on Probation status and will be eligible to receive aid during the probationary semester(s). Students on probation are placed on a monitoring plan and are required to achieve a minimum semester GPA of 2.00 undergraduate/3.00 graduate and complete a minimum of 100% of all attempted credits for the semester. Students who meet the probation requirements, but still do not meet all of the Satisfactory Academic Progress requirements, will have their probation extended to their next term of enrollment. There is not a limit on the number of consecutive terms a student can be on Probation status.

Appeal Process

Students placed on Suspension status due to their cumulative GPA, their cumulative course completion rate, or both, have the right to submit an appeal based on mitigating circumstances (unusual or extraordinary circumstances beyond their control that the student could not have planned for). Submission of an appeal is not a guarantee of approval. Suspension for the maximum attempted credits limit (either the student has reached the maximum attempted credits limit or it is determined that they cannot complete their program within the maximum attempted credits limit) have the right to an appeal based on special circumstances.

Appeals processes must include the following:

1.  Satisfactory Academic Progress Appeal (Cumulative GPA and/ or Cumulative Pace)

• Satisfactory Academic Progress Appeal Form (www.peru.edu/financialaid/sap)
• A written statement explaining: 1) the mitigating circumstance(s) that prevented the student from meeting SAP requirements, and 2) what has changed in the student’s situation that will allow for a higher cumulative GPA, a higher course completion rate, or both by the end of the next SAP evaluation period.
• Third-party documentation that supports the information in the student’s written statement (e.g., medical documents, obituary notices, legal documents, police reports). Statements from friends and family cannot be considered.

2.  Satisfactory Academic Progress Appeal (Maximum Time Frame)

• Maximum Time Frame Appeal Process (www.peru.edu/financialaid/sap)
• Attach a personal statement explaining why you have accumulated and/or attempted excess units for your degree.  If you have taken or plan to take courses that are not required, give your reasons for taking them. Indicate if you have changed your major or program and if so, why.  Explain any mitigating  circumstances affecting your academic progress.
  • Examples of mitigating circumstances include, but are not limited to:
  • Serious injury or illness of the student, spouse, or child; death of a family member.
  • Examples of circumstances that are NOT mitigating include, but are not limited to:
  • Problems accessing required books and supplies, personality conflicts with instructor, transportation problems, loss of child’s day care provider.

Treatment of the Following Types of Courses for SAP

• Repeated Courses: Repeated courses count as attempted credits and, when passing grades are received, they also count as completed credits.
• College Level Examination Program (CLEP): CLEP courses count as both attempted and completed credits.
• Transfer Courses: Credits transferred to PSC from another institution count as both attempted and completed credits.
• Dual Credit-Courses: Dual credit courses count as attempted credits and, when passing grades are received, they also count as completed credits.

Scholarships

• Clifford Harding Work Stipend
  The Clifford Harding Work Stipend is awarded to select sophomores, juniors and seniors. Positions are available in the School of Education, the School of Professional Studies, the School of Arts and Sciences, Admissions, the Library, the Center for Achievement and Transition Services, and other offices with the recipients determined by each respective area. Applications are available in the various offices upon request. Funding for the Clifford Harding Work Stipend is provided through the Peru State College Foundation.
• Institutional Scholarships
  The Office of Admissions awards scholarships to new freshmen and transfer students. The Financial Aid Office awards need-based scholarships and continuing student’s scholarships. Returning students must complete a Returning Student Scholarship Application to be considered for scholarships. This application is available in February via myPSC.
• Peru State College Foundation (PSCF) Scholarships
  ​The Peru State College Foundation administers various scholarship funds and other student aid provided thanks to the generous support of alumni, friends, corporations, and foundations. PSCF scholarships are awarded on the basis of academic achievement, financial need or other criteria specified by the donor. Typically, one-half of the total amount of the scholarship is awarded each semester.

The Peru State College Foundation was organized in June, 1955, and incorporated as a non-profit corporation for educational and charitable purposes in May, 1962.

Room and Board

The term of a room and board housing agreement is one full academic year, effective with fall term and ending after spring term. Completion of a housing agreement and a housing application is required prior to moving into campus housing. The College Housing Agreement Contract may be found at https://www.peru.edu/residencelife/forms.html. The Housing Application may be completed online at https://www.peru.edu/residencelife/howtoapply.html or through myPSC. Applicants are charged a one-time non-refundable Room Reservation Processing Fee of $50 that is required at the time of application. Online payment may be made through myPSC with card payment or banking information. Room keys will not be provided unless the fee has been paid. Any damages to a room will result in charges assessed to a student’s account at the conclusion of the occupancy.

Room and Board Refunds

Students who withdraw from college or whose housing contract is cancelled during the first week of class will receive a 100% refund. Students who withdraw from college or whose housing contract is cancelled after the first week of class will receive pro- rated refunds of their room and board charges through the eighth week of school. After the eighth week of school, there will be no refunds issued for room and board charges. Students must officially check out of the residence halls within 48 hours of withdrawing. A partial week shall be considered a full week for pro-rating purposes. The week begins on Sunday and ends on Saturday. Contracts which are cancelled for violation of the student code of conduct will not receive refunds for room and board.

Important Notice

Financial Aid Warning, Probation, and Suspension are completely different than Academic Contract, Probation, and Suspension. Appeals submitted for financial aid Satisfactory Academic Progress do not affect Academic Contract, Probation and Suspension, which has a separate appeal process. Approval of an Academic appeal does not guarantee approval of a Financial Aid appeal.

Federal Title IV Funds Refund Policy and Procedures

If you completely withdraw from Peru State College and you are a financial aid recipient, a portion of your financial aid may be required to be returned to the Department of Education (DOE). This is part of the DOE guidelines for the Return of Title IV Funds requirements. Financial Aid recipients unofficially withdrawing and recipients officially withdrawing from Peru State College prior to the expiration of 60% of the payment period (semester), the Return of Title IV requirements apply to you. For more information on the Return of Title IV refund policies, please contact the Financial Aid Office. If you officially withdraw after 60% of the payment period, you are considered to have earned 100% of your financial aid received.

Refunds of tuition, fees, and on-campus room and board charges will be calculated based on the number of days remaining in the semester at the time of the withdrawal. Financial aid refunds received for other educational expenses will be calculated based on the number of days remaining in the term at the time of the withdrawal. Refunded amounts are considered unearned financial aid and must be returned to the appropriate financial aid programs. Students are responsible for returning the amount owed. Failure to repay the amount owed will result in future financial aid ineligibility and possibly having your account turned over to the United States Department of Education. The refunded amounts will be returned in the following order:

1. Unsubsidized Direct Loan
2. Subsidized Direct Loan
3. Direct PLUS loan
4. Federal Pell Grant
5. Federal SEOG
6. Other Federal Financial Aid

NOTE: If you are a financial aid recipient, both the Peru State College and Federal Refund policies apply to you. You may end up owing both Peru State College and the DOE if you officially or unofficially withdraw from Peru State College. If you end up owing money to the DOE, you may no longer be eligible for future Student Financial Aid at any other institution until this money is returned. If you are planning to completely withdraw, we encourage you to explore your options before making a final determination, to avoid unforeseen consequences.

Post Withdrawals/Disbursements

If you are a financial aid recipient and officially or unofficially withdraw from PSC, you may be eligible for Post Withdrawal of federal aid funds if they have not yet been applied to account as of the day you withdraw. You will be notified by hard copy letter within 30 days from your withdrawal date if you are eligible and any obligations you may have that pertain to those funds not yet disbursed.

Notification of Repayment

As a financial aid recipient who unofficially withdraws or officially withdraws from Peru State College prior to the 60% of the enrollment period, you may be responsible for returning funds to the DOE based on the Return of Title IV calculation which is the formula that determines the amount of money to be returned. In addition, you may be required to pay Peru State College money that the College had to return on your behalf. You will be notified by hard copy letter within 30 days of your repayment obligations. Repayment obligations must be satisfied within 45 days from the receipt of your notification letter. You will be eligible for financial aid within this 45-day period but eligibility will be discontinued on the 46th day unless the repayment is satisfied. The notification letter provides the terms for satisfying the repayment and the consequences for failing to repay.