The Need Concept
While acknowledging that students should be recognized for outstanding achievement, Meredith, in general, awards financial assistance to a student on the basis of their analyzed financial need. Need is the difference between what a family can contribute and what the College estimates as a reasonable overall cost for attending Meredith for one year. As the basis for determining need, each year an aid applicant must file a Free Application for Federal Student Aid (FAFSA).
For the on-campus undergraduate student, the cost of attending includes tuition, room and board, and an estimated $3,350 for miscellaneous personal expenses, including transportation. The educational cost used by the Office of Financial Assistance in its calculation of need for an on- campus student for 2024-2025 is $63,110. For the dependent commuting student living with their parents, the cost of attending includes tuition and an estimated $3,600 for living, food and miscellaneous personal expenses, including local transportation. The total cost used by the Office of Financial Assistance in its calculation of need for a full-time, dependent commuting student for 2024-2025 is $55,620.
The average expenditure for books is calculated at approximately $850 per year and is included in our estimate of annual expenses that students will incur at Meredith.
Student may purchase books by going to the online bookstore. Additional classroom and personal supplies are available in the Meredith College Campus Store in the Cate Student Center.
Application Procedures
All US citizen and permanent residents who wish to apply for any kind of financial assistance should complete the Free Application for Federal Student Aid (FAFSA) after October 1. The FAFSA may be completed on the FAFSA website.
All grants, scholarships and loan funds will be credited to the student’s account. If the total financial assistance exceeds the charges on the account, the result will be a credit balance. Credit balances will be refunded to the student (or the parent if the credit balance is due to a PLUS loan) within 14 days of the credit balance occurring. These funds may then be used for educational expenses such as books, supplies, transportation or for off campus living expenses.
Returning Students
The FAFSA must be filed each year a student wishes to receive financial assistance. The form should be completed on the Federal Student Aid website between October 1 and March 15 for priority consideration. Students who file the FAFSA after the priority date will be considered as funds allow.
THE AWARD
The Office of Financial Assistance evaluates each individual’s particular situation and awards the most appropriate package of assistance. Scholarships, grants, loans and student employment are used, usually in combination, to help the eligible student meet the cost of attending Meredith.
Notification of Awards
All entering students who apply for financial assistance by the priority deadline, including applicants for competitive scholarships, will be informed of the College’s decision in March. Students accepted for admission under the Early Decision Plan will be informed of tentative assistance awards by December 15. Returning students can expect notification concerning awards after June 1.
Payment of Award
Scholarships and grants administered by the College will be credited to the student’s account on a semester basis. Scholarships received from outside sources will be applied to the student’s account as funds are received.
If a student chooses to apply for a Federal Direct Student Loan, and/or a parent chooses to apply for a Federal PLUS Loan, a Notice of Loan Guarantee and Disclosure Statement is sent from the lender to the borrower specifying the actual loan amount and when the funds will be disbursed to the College.
Students who have a Federal Work Study job on campus are paid on the 15th of each month for work performed during the preceding month.
Renewal of Assistance
Meredith College will continue to provide financial assistance to a student in future years if (1) the need for financial assistance continues, (2) the FAFSA is completed by the stated deadline, and (3) the student maintains satisfactory academic progress as shown in the next section. The award may vary from year to year in both type and amount, depending upon funds available and the applicant’s need.
Financial Assistance Satisfactory Academic Progress
Satisfactory academic progress is defined as the process of adequately proceeding toward the completion of a degree. The Office of Financial Assistance is required by federal regulations to monitor and determine if students are meeting the satisfactory academic progress requirements. If you should have any questions about our policy, we encourage you to contact the office at (919) 760-8565.
In order for a Meredith College student to retain eligibility for federal, state and institutional financial assistance, the student must meet the following criteria listed below.
Undergraduate Degree Students:
Qualitative Requirement—Each student must maintain the following minimum Meredith QPR, based on credits attempted.
| Total Attempted Credit Hours | Minimum Meredith QPR |
|---|---|
| 1-59 | 1.800 |
| 60 and above | 2.000 |
Quantitative Requirement—Each student must also be making satisfactory progress toward the completion of a degree. Satisfactory progress toward graduation is measured in terms of total academic credits earned. During the academic period, a student must earn 75% of all credits attempted for which they received assistance.
Program Length—Undergraduate students may not receive financial assistance for more than 150% of the expected program length, or ten semesters for full-time students, whichever is less.
Graduate Degree Students:
Qualitative Requirement—Each student must meet the academic standards for enrollment in the school or program as described in the Graduate Catalogue in order to continue to receive financial assistance.
Quantitative Requirement—Graduate students may not receive financial assistance for more than 150% of the expected program length.
Courses/Grades Used in Determining Satisfactory Academic Progress
- Credit Earned: The successful completion of a credit attempted and earned is credit for which a grade of A, B, AH, BH, C, D, or P is received.
- Incompletes: An incomplete grade will count as credit attempted and credit not earned until the Office of the Registrar has recorded a passing grade.
- Withdrawal from courses: Any withdrawal after the add/drop period will count as credit attempted and credit not earned.
- Remedial Credit: Remedial courses such as ENG-090 will count as credit attempted but will not count toward overall credits earned.
- Transfer Credit: Transfer credits, accepted by Meredith, will be added to the attempted/earned credit hours in order to arrive at the maximum number of credits a student may attempt and earn.
- Repeated courses: course(s) repeated will be counted as attempted credits as many times as the course(s) is attempted. When a course repeated is completed successfully, the completed course credit will be added to the number of credit hours earned.
Those Unable to Maintain Satisfactory Academic Progress
If a student is unable to meet the qualitative and quantitative requirements at the end of an academic period (defined as one academic year, if the student attends both semesters), then the student is not eligible for financial assistance and is placed on Financial Assistance SAP Suspension for the following semester. Please note an appeal is not a guarantee. The appeal process is described in section “Appeal Process.”
If a student exceeds the maximum number of credit hours allowed for degree completion (150% of expected program length) their future financial assistance will be suspended. If the student wishes to continue to receive financial assistance, they must follow the appeal process.
APPEAL PROCESS
An appeal must explain why a student failed to make satisfactory progress and what has changed in their situation that will allow them to make satisfactory progress at the next evaluation.
Appeal Granted-Student Responsibilities
If an appeal is granted, a student will continue to receive aid on a probationary basis for the following semester. If the student does not meet both the qualitative and quantitative conditions of Satisfactory Academic Progress at the end of the following semester, the student may not be eligible for further financial assistance.
Appeal Denied
If the Financial Assistance Appeals Committee denies a student’s appeal, the denied student will be sent a letter informing them that their financial assistance has been suspended. Included with the letter the student will receive information about specific procedures and minimum requirements to reinstate financial assistance after it has been suspended.
Re-establishing Eligibility after Denial or Suspension
A student suspended for reasons other than exceeding the maximum number of credit hours for degree completion who does not appeal, or whose appeal is denied, may be reinstated on a probationary basis by meeting both of the following criteria:
- Achieve the required qualitative requirements;
- Successfully complete 75% of the credit hours attempted for at least one semester.
These requirements may be met while either attending Meredith for the semester without financial aid or by transferring the requirements to Meredith from another accredited institution. Transfer work must be reflected on the Meredith transcript to be considered for purposes of financial aid eligibility.
Students who do not wish to appeal or whose appeal is denied may receive alternative/private loans to fund their educational expenses. Please contact the Office of Financial Assistance at (919) 760-8565 for more information.
Students' Rights and Responsibilities
A student receiving financial assistance has certain rights and responsibilities. For any necessary revision in a student’s current financial assistance award, a student may request an explanation of the revised award and reconsideration in light of any additional information they can provide. A student has the right to make a similar request in regard to any adjustment in the amount of their award for a subsequent year. A full-time student is responsible for advising the Office of Financial Assistance if their course load drops below 12 credit hours for any semester covered by the award. A part-time student has the same responsibility if their course load for any semester covered by the award drops below the number of credit hours specified on their financial assistance award notification. Other responsibilities of an assistance recipient include completing all forms and special applications requested by the Office of Financial Assistance; reporting to the Accounting Office on request to endorse vouchers and/or checks and, if applicable, signing a loan promissory note and having a loan exit interview before withdrawal or graduation; and fulfilling the obligations described in the student's job contract if earnings from a campus job are part of the student's assistance award.
Another area of student responsibility relates to previous enrollment at Meredith or any other college. In order to be eligible for federal assistance programs, a student must not owe a refund on a previously awarded grant or be in default on payments for loans in repayment status.