When applying for federal student aid, the information provided on the FAFSA is used in a formula, established by the U.S. Congress, that calculates an Expected Family Contribution (EFC). The EFC is used in an equation to determine financial need.

Cost of Attendance (as determined by the institution)

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Expected Family Contribution

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Other Financial Assistance *

=

Financial Need

* Other financial assistance includes: any scholarships, fee waivers, vocational rehabilitation benefits, veterans benefits, etc.

Cost of Attendance
An estimate of expenses for education such as tuition, fees, room,board, books, supplies, and other related expenses. Please see below.

Expected Family Contribution (EFC)
The amount expected to be available for your educational expenses. The EFC is calculated from income, asset information, household size, and number in college. If you are dependent, the EFC is a student and parent contribution. If you are independent, the EFC is a student (and/or spouse) contribution.

REFUND:

1. The Higher Education Amendments of 1998 established the concept that financial aid must be earned through class attendance. A student has not earned 100% of their financial aid until he/she has attended more than 60% of the term. If a financial aid recipient totally withdraws on or before the 60% point of the term, there is a portion of the aid that has not been earned. The unearned portion is repaid by both the student and the school based on a federal formula. The school can use any refund generated by the withdrawal to pay the portion it owes back. However, depending on the time of withdrawal, the student may also be responsible for repaying a portion of his/her fees that had been previously paid by the financial aid.

2. The amount each student owes must be calculated based on the date of withdrawal, the amount of financial aid received, and the programs of financial aid received.

3. The Higher Education Amendments of 1998 specify the following order in which any unearned amounts are to be returned to Title IV financial aid programs: Federal Direct Student Loan Programs (unsubsidized then subsidized); Federal Perkins Loan Program; Federal Direct PLUS loans; Federal Pell Grant Program; Federal SEOG Program; any other programs funded by Title IV including the Tennessee Student Assistance Program; other federal, state, private or institutional aid programs. Any amount remaining after the applicable programs have been fully repaid is returned to the student.

4. Refund applicable to non-Title IV funds will be distributed to the respective aid accounts in the same proportion as the aid awarded.

5. A 100% refund will be given in the event of death.

1. When a student receives financial aid and one of the following situations occur: (a) the student is issued a contingency fee assessment that is not honored by the fund agency involved; (b) the student receives an overpayment due to non-eligibility or administrative error; (c) the student withdraws before the start of classes or fails to pay tuition/maintenance fees, the student must repay the total amount of aid received or overpaid.

   Satisfactory Academic Progress Policy

   All students who receive federal or state financial aid must be enrolled in a program leading to a degree and must meet federal and institutional standards for academic progress in order to establish and retain aid eligibility. Students receiving athletic or other university administered awards must also meet the satisfactory academic progress standards that have been established by the awarding entity.

   Academic progress for federal and state financial aid programs is based on three measures: cumulative grade-point average, completion rate based on credit hours completed compared to attempted, and a maximum timeframe for degree completion. The following describes the university's standards for each of these three measures, and how these standards are reviewed:

   1. Cumulative Grade-Point Average
      1. Undergraduate students - The following standards apply to the combined transfer/university cumulative GPA. Students must meet the following minimums which are consistent with the University's standard as published in the Undergraduate Bulletin. Quality hours are those credits used to compute the grade-point average including grades of A, B, C, D, or F and transfer credits with a grade of incomplete. The first attempt of a course that is repeated is excluded from the quality hour computation.

         Quality Hours	Minimum GPA
         14.99 or less	No Minimum
         15.00 - 29.99	1.40
         30.00 - 50.99	1.70
         51.00 - 67.99	1.90
         68 +	2.00

      2. Law Students - must maintain a 2.0. cumulative GPA to receive loans or work-study.
      3. Graduate Students - must maintain a 3.0 cumulative GPA to receive loans or work-study.

   2. Completion Rate

      All students are required to complete a minimum of 66% of the credit hours attempted at The University of Memphis. Courses with a grade of "D" or better count as completed. Credit hours attempted include audits, incompletes, withdrawals, and repeated or failed classes.

      1. Probation. Students whose number of credit hours completed is below 66% of credits hours attempted, but is at least 50%, will be placed on probation the first time this occurs.
      2. Suspension. Students whose number of credits completed is below 50% of credits attempted, or whose credits completed were below 66% and whose completion rates do not improve to 66% by the next review, will be suspended from eligibility for grants, loans, and Federal Work-Study employment.

   3. Maximum Timeframe
      1. Undergraduates - The maximum timeframe for the completion of a first degree is limited by federal regulations to 150% of the published length of the degree program. Most undergraduate programs at The University of Memphis are 120 hours. The maximum number of hours during which a student is eligible to receive financial aid is 180. The 180 hours includes transfer hours and all attempted hours. Credit hours attempted include audits, incompletes, withdrawals, and repeated or failed classes. Up to 30 hours of required remedial/ developmental courses are excluded from the maximum timeframe.
      2. Law Students - The maximum timeframe is determined by the degree completion requirements listed in the Cecil C. Humphreys School of Law bulletin.
      3. Graduate Students - The maximum timeframe is determined by the degree completion requirements listed for the student's academic program in the Graduate Bulletin.

   4. Review of Progress Standards
      1. GPA - is reviewed upon submission of a financial aid application and annually at the end of each spring semester.
      2. Completion Rate - is reviewed annually at the end of each spring semester.
      3. Timeframe - is reviewed at the end of each fall and spring semester, and at the end of the summer sessions.

   5. Notification/Appeals

      Students whose financial aid eligibility is suspended as a result of failure to meet one or more of the standards of satisfactory academic progress will be sent a letter from the Student Financial Aid Office including a Satisfactory Academic Progress Appeal form. In order for an appeal to be approved, it must be based on extenuating circumstances and be documented. For the GPA and completion rate standards, students can also restore their aid eligibility by improving their academic performance enough to meet the standard.

   6. Financial Aid Fresh Start

      Students accepted under the Academic Fresh Start Program will have their GPA's reviewed based only on courses completed at The University of Memphis.