FINANCIAL AID TOOLKIT
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Student Rights and Responsibilities – Loan Information – Financial Aid Forms – Financial Aid Process – Financial Aid Policies – FASFA Deadline Dates – Financial Drop for Non-Payment Schedule – Cohort Default Rates – Important Links – Important Dates
Student Rights and Responsibilities
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add remove A student has the right to know…
- Types of available financial aid.
- Deadlines for submitting the 2019-2020 FAFSA for aid, June 30, 2020.
- When financial aid will be distributed.
- That financial need is determined by the Estimated Family Contribution number assigned by completing the FAFSA.
- The college’s refund policy.
- What portion of your aid package is “gift aid such as scholarships” and what must be repaid (loans).
- About the affect outside scholarships may have on your financial aid award.
- If the aid is a loan, you have the right to know the interest rate, repayment amount and procedures, length of time to repay and when repayment begins.
- How the college determines if you are making satisfactory academic progress, and what happens when you are not.
- You have the right to accept, decline or seek adjustment to your financial aid award(s).
- Information you give to the Office of Student Financial Planning will be confidential.
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add remove A student has the responsibility to…
- Apply for financial aid every year.
- Complete the FAFSA application form accurately and submit it on time.
- Provide correct information. Information found to be knowingly falsified may be referred to the U.S. Department of Education, Office of Inspector General.
- Provide all additional documentation requested by the Office of Student Financial Planning.
- Read all forms you sign.
- Keep copies of all your financial aid records.
- If required, you must register with the Selective Service System.
- Complete the required entrance and exit loan counseling sessions.
- Repay all loans in accordance with the terms of your promissory notes.
- Notify your lender if any of the following occurs before your loan is repaid: change of name, change of address, graduation, withdrawal or less than half-time attendance and transfer to another institution.
- Notify the Office of Student Financial Planning if you:
- Change your residency /housing plan,
- Change your marital status,
- Change your major,
- Change your graduate/undergraduate status,
- Change your enrollment status (i.e. full-time to below full-time).
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add remove Financial aid and fee payment
Fees are calculated each semester or term after the student registers. For students in which the Office of Student Financial Planning has received all requested documentation and the student’s financial aid file is complete, financial aid will be automatically applied to the student’s account after rosters have been finalized by faculty each semester and/or term and when funds have been received from outside entities. (Outside entities are, but not limited to, SC Tuition Grant agency, Palmetto/Life/Hope agency, veteran affairs, loan processors, alternative loan agencies, Parent PLUS Loans, vocational rehabilitation, workforce or trade agencies, and outside scholarship entities.)
The U.S. Department of Education requires that Federal Title IV financial aid funds be applied toward allowable institutional charges (tuition, fees, housing, and meal plans). Non-allowable institutional charges are items such as health fees, parking tickets, lock-out fees, etc. Federal Title IV funds can pay for up to $200 of the previous academic year’s remaining balance.
Questions regarding the student’s Statement of Account? Contact 843-383-8026
Questions regarding the student’s financial aid? Contact 843-383-8055 -
add remove Financial aid eligibility restrictions
Students with criminal convictions are subject to eligibility restrictions and may not be eligible for federal and/or state funds. The Higher Education Act of 1965, amended, relays that if a student has been convicted under federal or state law of the possession or sale of drugs while enrolled in school, that the student’s federal and state financial aid will be suspended. If the student is convicted of a drug offense after you submit the FAFSA, the student will lose eligibility for federal aid and may be liable for returning any financial aid they received during the period of ineligibility.
The student may regain eligibility by passing two random drug tests conducted by a drug rehabilitation program—the program must meet the criteria established by the U.S. Department of Education. If the student regains eligibility, contact the Office of Student Financial Planning.
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add remove Unusual enrollment history
A student’s FAFSA may be flagged as Unusual Enrollment History by the U.S. Department of Education if the student has a pattern of enrolling in multiple colleges over multiple years, showing unusual activity. The student will receive a notification from KHEAA Verify to create an account at their site and submit requested documentation regarding Unusual Enrollment History. The Office of Student Financial Planning utilizes KHEAA Verify to process verification and unusual enrollment history information on the university’s behalf. KHEAA Verify will request the student’s transcripts for four concurrent award years and determine if federal and/or state funding will be approved for the academic year. If it is determined that the student is enrolling just long enough to collect student aid funds, then the student’s Unusual Enrollment History documents will not be approved and will not be eligible for federal and/or state funding. (Federal funding includes Pell Grant, Supplemental Educational Opportunity Grant, loans, PLUS Loan, work-study, and state funding includes the SC Tuition Grant.)
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add remove Loan certification
Student loans will be certified after the withdrawal date for each semester or term. This change was instituted due to inconsistencies in course registrations and students withdrawing from classes prior to the final withdrawal period. In such cases creating an overpayment to the student in which it is hard to regain those over-paid funds. This policy will help to ensure students are actively enrolled.
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add remove Option to deny loans to students
If a student is eligible for student loans, the Office of Student Financial Planning has the right to deny the distribution of Direct Loans Stafford and/or Parent PLUS Loans, or alternative loans. Student Financial Planning staff have the right to deny or revoke student loans for the reasons listed below.
- The student may be negligent in repaying loans;
- The student is concurrently enrolled at another institution;
- The student has not provided requested documents;
- The student provided fraudulent information; and/or
- The school received notice that the student is in default, bankruptcy status, overpayment status, or has a disability discharge status.
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add remove Financial aid satisfactory academic progress guidelines
In accordance with federal regulations (HEA Sec. 484(c), 34 CFR 668.16(e), 34 CFR 668.32(f), 34 CFR 600.2, and 34 CFR 668.34), students must maintain satisfactory academic progress (SAP) in order to receive Federal Title IV aid. Coker University is mandated to deny financial aid to any student that is not in compliance with SAP. The following are Coker University’s SAP guidelines for financial aid. Financial Aid SAP is processed during each academic year at the end of the summer term, and for each enrollment period for which a student is provisionally approved through an appeal and/or academic plan process.
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add remove SAP Requirements
1. Students must be admitted and enrolled as a degree-seeking student, and take courses required for the chosen degree completion. Only courses required for degree completion for your selected degree program will be eligible for Federal Title IV funds (Pell, SEOG, Work-Study, Direct Loans, Parent PLUS Loans, Perkins Loans, SC Tuition Grant, and Hope, LIFE, or Palmetto Fellows Scholarships). Per 34 CFR 600.2, courses that do not count toward the completion of the student’s degree program requirements are not eligible for federal funding.
2. Maintain a cumulative grade point average (CGPA) of 2.0 or higher (as outlined in the college catalog under “Continuation Requirements and Classification Probation”).
3. Complete at least 67% of the cumulative credit hours attempted during the academic year toward chosen program of enrollment (grades of W, I, and F will be counted as hours attempted).
4. Transfer students must be making SAP at his or her previous college.
5. Students must complete their chosen degree requirements for a single degree within the 150% published length of the program. Coker University requires that students complete 120-degree hours within the student’s chosen program—students will have up to 150% of the 120 hours to complete their program for up to 180 attempted credits. All transfer credit hours received by Coker University are included in the total attempted credit hours. -
add remove Warning Period
The SAP warning period allows a student one semester (one term for graduate program students) to make up for any GPA or pace of progression deficiencies. During the SAP warning period the student may continue to receive financial aid without an appeal and/or academic plan. Students are encouraged to work with their advisors, student success coach, and tutors regarding academic challenges and offerings that may help increase the student’s success with increasing their GPA and/or pace of progression.
If the student does meet the requirements of obtaining a cumulative GPA of a 2.0 or higher (3.0 or higher for graduate program students), and the pace of progression are not met by the end of the warning period, the student will no longer be considered to be making SAP and will become ineligible for federal and state funding without an approved appeal and/or academic plan.
The one semester (one term for graduate program students) SAP warning period is only available one time throughout the degree program.
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add remove Financial aid probation and suspension
- The student will be considered as not making SAP for Federal Title IV financial aid for one payment period if one or more of the SAP requirements are not met. The student will be required to complete the Financial Aid Appeal process, and if provisionally approved, will be required to follow one or more of the following criteria to be considered for funding for future enrollment periods: make “C’s” or better in all courses; complete courses without incomplete grades; do not withdraw from courses; obtain at least a 2.0 semester/term GPA; and/or complete 100% of attempted hours.
- If the student does not make SAP under an approved appeal, the student’s aid will be placed in suspension status for Federal Title IV aid if SAP is not met during the previously provisionally approved probationary period. If there were mitigating circumstances, the student may contact the Assistant Director of Student Financial Planning to inquire about completing a second appeal. The student may be requested to complete an appeal and an academic plan to be considered for Federal Title IV funding if it is determined that it would take more than one payment period to achieve SAP. If the academic plan is approved, the student will be placed in probationary status and may be required to make progress with one or more of the following criteria: “C’s” or better’ complete courses without incomplete grades; do not withdraw from courses; complete a defined percentage above 67% of attempted hours; complete the term or semester with a 2.0 or higher GPA; and/or increase their CGPA. If the student does not make progress under the academic plan (i.e., make “C’s” or better’ complete courses without incomplete grades; do not withdraw from courses; complete a defined percentage above 67% of attempted hours; complete the term or semester with a 2.0 or higher GPA; and/or increase their CGPA), s/he will no longer be eligible for Federal Title IV funding. The academic plan length will be determined during the review progress and will not exceed the maximum program timeframe, but may be active until the student reaches SAP.
- The student will be placed on suspension for Federal Title IV financial aid if at least 67% of the cumulative credit hours attempted are not completed during the academic calendar year.
- The student will be placed on suspension for Federal Title IV financial aid when attempted hours exceed 150% of the allowable program credit hours. Attempted hours cannot exceed 180 hours. Transfer hours that count toward the student’s major or program will count in completed and attempted hours.
- Per the Federal Student Aid Handbook (V1, Chapter 1, page 13), “a student that completes the academic requirements for a program but does not yet have a degree is not eligible for further Title IV aid for that program”.
- The student will be allowed three program changes; however, if a student completes graduation requirements for a previous program, the student must graduate or Federal Title IV aid will no longer be available to the student. All courses attempted and completed will be included with program changes and transfer hours related to the program will be counted hours toward degree progression.
- Suspension of Federal Title IV aid will continue until SAP has been achieved. Coker requires that a student take a full load (12 credit hours) of courses for one semester and pay for those courses and make progress with “C’s” or better, don’t receive incomplete or NC grades, and didn’t withdraw from courses. When the student demonstrates SAP by completing courses toward progression and continually increasing their cumulative grade point average then the student may notify the Office of Student Financial Planning to review their records and determine Federal Title IV funding reinstatement. Reinstatement of Federal Title IV funding will not be retroactive.
- Students may repeat courses that were not satisfactorily passed, receiving an “F” grade, if the courses are required for program completion. Only one-course repeat will be eligible for federal funding if the student has previously pass the course; however, if the student repeats a course that they pass and fails the course then the student is not eligible to repeat the course (34 CFR 668.2(b)).
- Federal Title IV aid is not automatically reinstated when a student regains SAP after a period of financial aid suspension. Student must request the Office of Student Financial Planning re-evaluate their progress in order to have aid reinstated.
- The student will not be eligible for financial aid if in academic suspension status.
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add remove Appeals
- Students can appeal the denial of Federal Title IV financial aid due to lack of SAP. The appeal must be submitted by the deadline date listed under the Appeal and Academic Plans Deadline Dates section to the Assistant Director of Financial Aid. The appeal should provide the reason(s) (illness, injury, death of a family member, or other special circumstance) why SAP was not achieved, what has changed that would allow demonstration of progress at next evaluation, and what the student intends to do to regain SAP. Documentation substantiating the reason for the lack of SAP must be provided. The appeal conditions will be, but are not limited to: make “C’s” or better’ complete courses without incomplete grades (“B’s” or better for graduate students); do not withdraw from courses; complete a defined percentage above 67% of attempted hours; complete the term or semester with a 2.0 or higher GPA; and/or increase their CGPA.
- If a student’s appeal is approved, but it is determined that the student will require more than one semester to achieve SAP, the student will be placed on financial aid probation with an academic plan. As long as the student meets the requirements of the academic plan (subject to maximum timeframe requirements), s/he will continue to be eligible for Federal Title IV aid. Progress is checked at the end of each payment period, or enrollment period.
- If the appeal is denied by the Assistant Director of Financial Aid, the student has the right to appeal the decision with the Director of Financial Aid.
- Students can appeal a maximum of one time provided that progress was made during the previous payment period.
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add remove Academic plans
- Academic plans can be customized for the student and will dictate conditions that must be met along with the number of semesters or terms allowed to regain financial aid SAP. The academic plan conditions will be, but are not limited to the following criteria during the payment period: make “C’s” or better’ complete courses without incomplete grades (“B’s” or better for graduate students); do not withdraw from courses; complete a defined percentage above 67% of attempted hours; complete the term or semester with a 2.0 or higher GPA; and/or increase their CGPA.
- Academic plans are not indefinite and are subject to maximum timeframe progression.
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add remove Appeal and Academic Plans Deadline Dates
Deadlines dates are firm and there will be no exceptions.
Fall 2024 Semester – August 1, 2024
Spring 2025 Semester – December 2, 2024
Summer 2025 Terms – March 3, 2025 -
add remove Graduate program students
- Students must be admitted and enrolled as a degree-seeking student.
- Graduate program students must complete courses as outlined in the college catalog, within 8 terms of continuous enrollment, and for interrupted enrollment 5 years from first enrollment. For the purpose of receiving Federal Title IV funding, students must complete their graduate degree within 150% of the published length of the program. If Coker University requires that students complete 30 degree hours for a graduate program—students will have up to 150% of the 30 hours to complete their program for up to 45 attempted credits. If 33 hours are required then the student will have up to 150% of the 33 hours to complete their program up to 49 hours. If 42 hours are required for a graduate program, then the student will have up to 150% of the 42 hours to complete their program up to 63 hours. All transfer credit hours received by Coker University are included in the total attempted credit hours.
- If a student receives up to 6.0 credit hours with a “C” grade, then the student may count the hours toward graduation. The student will be dismissed from the program if a “C” grade is received for more than 6.0 credit hours.
- If a student obtains a “D” or “F”, s/he must retake the course at Coker University. The student will be eligible for Federal Title IV funding to repeat courses passed with a “D” one time provided that the course(s) are required for graduation in the graduate program. Financial aid will pay for one repeated course if the student has failed, until the student passes with a “C” or better and it is a course required for graduation.
- Student who receive below a “C” will be placed on academic probation and financial aid suspension. The student will be required to complete the Financial Aid Appeal process and if approved the student will be eligible for financial aid for one payment period. The student may be required to complete an academic plan if it is determined that SAP cannot be achieved in one payment period to be considered for Federal Title IV funding. If the academic plan is approved the student may be required to: make “B’s” or better’ complete courses without incomplete grades (“B’s” or better for graduate students); do not withdraw from courses; complete a defined percentage above 67% of attempted hours; complete the term or semester with a 2.0 or higher GPA; and/or increase their CGPA. If the student does not make progress after the academic plan, s/he will no longer be eligible for Federal Title IV funding.
- The student will be placed on suspension for Federal Title IV aid if SAP is not met during the probationary period.
- The student will not be eligible for financial aid if in academic suspension status.
- Suspension of Federal Title IV aid will continue until SAP has been achieved.
Loan Information
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add remove Direct Subsidized and Unsubsidized Loans
Subsidized loans means the government pays the interest while you are in school, and you must have financial need to be eligible for the loan. Subsidized loan limits are: Freshmen (0-27 hrs) $3,500; Sophomores (28-57 hrs) $4,500; and Juniors and Seniors (58+ hrs) $5,500. There is an 1.057% loan origination fee required by federal law.
Unsubsidized means you pay all the interest, although you can have the payments deferred until after graduation. The interest is added to your loan balance. Dependents students are only eligible for this loan when a parent receives a Parent/PLUS denial. Unsubsidized loans limits are: Freshmen and Sophomores (0-57 hrs) $6,000; and Juniors and Seniors (58+ hrs) $7,000. These loans have variable interest rates, capped at 8.25% or less, depending on the year rates.
The FAFSA must be completed in order to receive a federal loan. No credit checks are required for these loans, and interest rates are low. Applicant must be a U.S. citizen, not be in loan default, and does not owe a refund on educational grants.
New recipients are required to complete entrance counseling and a master promissory note prior to the certification and disbursement of any federal loan. Online counseling is available at http://studentaid.gov/. We must have confirmation that you have completed the loan entrance and master promissory note prior to certifying loans.
The Direct Subsidized and Unsubsidized Loans are offered to students on a yearly basis with each new year FAFSA. Students may reduce or reject their subsidized and/or unsubsidized loan(s) by rejecting the loan through their CobraStop account, by contacting their financial aid counselor, or by emailing financial aid at financial_aid@517b2b.com.
To view current loan interest rates, please visit the Federal Student Aid site at http://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized#interest-rates.
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add remove South Carolina Teacher Loans
The South Carolina Teachers Loan program was designed to encourage students to enter the teaching profession. Loan amounts for this program are: $2,500 per year for Freshmen and Sophomores; and up to $5,000 for other students. Students can borrow up to $20,000 cumulative maximum.
The Career Changes Loan Program was designed to assist individuals wishing to change careers and enter the teaching profession. Students may borrow up to an annual amount of $15,000, not to exceed $60,000 cumulative maximum.
Eligibility requirements and other vital information concerning this program can be found at: http://www.scstudentloan.org
If the graduate teaches in a critical need area, their loan can be forgiven at a rate of 20% each year. If the graduate teaches in both a critical subject and geographical area, their loan can be forgiven at a rate of 33.3% each year of full-time teaching.
Funding is limited and applications are available in late February to early March for the following academic year beginning in August. The application deadline is June 1st. Call the office to receive an application or apply online at: www.scstudentloan.org/wp154-01.aspx.
The FAFSA is not required to apply for this loan.
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add remove Parent/PLUS Loans
The Parent (PLUS) Program is designed to help credit-worthy parents of dependent students pay educational expenses. If a parent’s PLUS pre-screen is denied based on the required credit check, their student will be eligible for a Stafford Unsubsidized loan. There is a 4.228% loan origination fee required by federal law. To determine if you are eligible for a PLUS loan and for more information please refer to the following website: http://studentloan.gov.
PLUS loans have variable interest rates capped at 10.5%. Repayment begins 60 days after the funds are fully disbursed. The FAFSA is required. If the FAFSA has been filed, the maximum amount allowable for an approved PLUS loan can be determined by contacting your financial aid counselor. Applicants must be a U.S. citizen.
Coker University will send a permission to certify letter to the parent after receiving notification that the PLUS credit decision was approved. When the College receives the completed permission to certify letter from the parent, the College will certify the loan. It will be the responsibility for the parent to complete all promissory notes, self-certification forms, etc. with the lender. Parents approved for a PLUS loan with an adverse credit history will be required to complete the Parent PLUS Counseling located at http://studentloans.gov.
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add remove Alternate Loans
Alternative loans are used to pay for tuition, fees, books, room and board, supplies, and transportation related to educational expenses. Alternative loans can not exceed a student’s maximum allowable cost of attendance as designated by the financial aid office.
The interest rate is variable based on prime rate, adjusted quarterly, throughout the life of the loan. Unpaid interest that accrues while the student is in school will be capitalized and added to the principal when the student enters repayment.
The FAFSA is not required. If the FAFSA has been filed, the maximum amount allowable for an approved alternative loan can be determined by contacting your financial aid counselor. Dependent students will require a viable co-signer. Some independent students may require a viable co-signer.
You may view, learn about, and select an alternative loan lender at the following FASTChoice site address. Alternative loan lenders listed were included on the site due to lender willingness to work with our students, providing excellent customer service, and providing viable and federally regulated information to our students.
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add remove Student Loan Interest Rates
(Effective for loans disbursed between July 1, 2022 through June 30, 2023.)
Loan Type Borrower Type Fixed Interest Rate Direct Subsidized Loans and Direct Unsubsidized Loans Undergraduate 5.5% Direct Unsubsidized Loans Graduate or Professional 7.05% Direct PLUS Loans Parents and Graduate or Professional Students 8.05% -
add remove Statistics
- Graduation Rate 39%*
- Default Rate 3.1%**
2.3% (National Average) - Retention Rate 51% (Full-Time)*
- Average Loan Debt $28,000***
- Average Amount Awarded in Aid Categories
$6,432(Federal Direct Loans)****
$22,850(Grants & Scholarships)****
$4,722(Pell Grant)****
Financial Aid Process
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add remove Applying for financial aid
Submit a completed admissions application to the Admissions Office. Applicants must be accepted by Coker University as degree-seeking students before aid will be awarded. Transient students must coordinate aid through their home institution. Special students are not eligible for financial assistance.
Submit a Free Application for Federal Student Aid (FAFSA) to the U.S. Department of Education as soon after January 1 as possible. The FAFSA website is studentaid.gov.
Students who filed a FAFSA prior to November 1 may be eligible to complete a Renewal Application. Eligible students will be sent a Personal Information Number (PIN), which can be used to complete the Renewal Application on the Web. All applications required by Coker University are available from the Financial Aid Office upon request.
High school guidance offices can provide information on local awards from employers, churches, PTOs and local civic organizations. Limited aid is also available for summer school. All financial information will be held in strict confidence.
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add remove Awarding process
Once a student’s need has been established by using the FAFSA, the Director of Financial Aid will notify the student of his or her award package for the academic year. An award package is usually a combination of scholarships, grants, campus employment and loans. Final award letters are sent as soon as the financial aid and admissions files are complete. Financial aid is awarded to continuing students based upon the completion of previous coursework at Coker University. The Financial Aid Satisfactory Academic Progress Guidelines will be utilized to ensure students are making academic progress. It is important that students and parents submit required documentation requested from the school. When Coker receives the student’s FAFSA information a letter is sent out to the student requesting documents or requesting certain items be completed so financial aid counselors can complete the packaging of federal, institutional, and/or state aid for the student.
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add remove Loan certification
Student loans will be certified after the withdrawal date for each semester, or term. This change has come about due to inconsistencies in course registrations, and students withdrawing from classes prior to the final withdrawal period. In such cases creating an overpayment to the student in which it is hard to regain those over-paid funds. This policy will help to ensure students are actively enrolled.
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add remove Option to deny loans to students
If a student is eligible for student loans, the financial aid office has the right to deny the distribution of Stafford, Perkins, or Private Source Loans. We can still consider a default to be evidence of a student’s unwillingness to repay loans. For a Perkins loan, if the repayment was involuntary, you should consider a default as such evidence to deny. Financial aid personnel have the right to deny or revoke student loans for the reasons listed below.
- The student may be negligent in repaying loans;
- The student is concurrently enrolled at another institution;
- The student has not provided requested documents;
- The student provided fraudulent information; or
- The school received notice that the student is in default, bankruptcy status, or in overpayment status.
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add remove Census Date
What is the financial aid census date?
The financial aid census date marks the point at which your enrollment status is finalized for financial aid purposes, aligning with the day following the deadline to drop classes for a full refund. In adherence to federal regulations, the Office of Financial Aid recalculates Federal and State aid based on the census date established by the college.
Important Notes
- Coker University (CU) observes multiple census dates. CU designates a census date for each module within the semester, as well as one for the semester overall.
- A student’s financial aid census date is linked to the semester of enrollment.
- Courses added after your financial aid census date WILL NOT be factored into financial aid calculations.
- Your financial aid award may be adjusted if you drop a class and your last day of attendance falls before your financial aid census date.
- Conversely, dropping a class with a last day of attendance occurring after your financial aid census date will not prompt an adjustment to your financial aid award.
- All Financial Aid census dates are listed at the beginning of the current Academic Calendar, accessible within the Academic Catalog.
Financial Aid Forms
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add remove 2024-2025 Academic Year
View all the forms for this academic year.
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add remove Citizens Bank
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add remove Custom Choice
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add remove Direct Loans
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add remove Private Loan Self Certification Form
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add remove KHEAA Advantage Education Loan
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add remove PNC
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add remove Sallie Mae
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add remove SCSLC
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add remove SoFi
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add remove Union Federal
Financial Aid Policies
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add remove Return of Title IV Funds
In accordance with federal regulations Coker University calculates earned and unearned funds of Title IV aid based upon the last date of attendance, or the date the University became aware that the student has withdrawn, up through the enrollment period’s 60% point as per HEA, Section 484B, 34 CFR 668.22, DCL GEN-11-14. The institution completes a Return of Title IV refund when a student withdraws from the institution if the student will receive or has received a Title IV grant of loan during his or her period of enrollment. This includes Perkins loan, FFEL, Pell Grant, and FSEOG.
The student meets with the academic advisor who handles withdrawals, discusses his or her withdrawal, and completes a withdrawal form. The student then meets with financial aid to discuss and receive written documentation as to the effects that Return of Title IV will have on financial aid as well as the school’s refund policy. The student receives a written statement allowing the student to request or deny any loan funds to be disbursed as per federal regulations. The calculation for Return of Title IV is completed.
After Return of Title IV is calculated, the unearned funds are returned to appropriate entities and the earned amounts remain on the student account. After the 60% point the student is eligible for all federal, institutional, and state funds. The school has 45 days from the date of determination of withdrawal to return the funds to appropriate entities. Adjustments to financial aid are made to any grants or loan funds per the calculation form and the student’s request. All documentation is recorded on the student’s record and kept in the student’s file. Alternative loans and non-institutional charges are excluded from the Return of Title IV regulations. If a student is enrolled and is past the 100% refund period, the alternative loan will not be adjusted. The funds will go against the student balance and any credit will be disbursed to the student.
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add remove Percentage of the payment period or term completed (percentage of earned aid) =
(the number of days completed up to the withdrawal date) / (the total days in the payment period or enrollment period).
Note: Any break of five days or more is not counted as part of the days in the term.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:
Aid to be returned = [(100% of the aid that could be disbursed) – (the percentage of earned aid)] x (the total amount of aid that could have been disbursed during the payment period enrollment period)
If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student may be required to return a portion of the funds. Please remember that when Title IV funds are returned, this may create a balance due to Coker University from the student.
If a student earned more aid than was disbursed to him/her, the university would owe the student a post-withdrawal disbursement which must be paid within 30 days of the student’s withdrawal.
Return of funds are allocated in the following order:
- Direct Unsubsidized Loans
- Direct Subsidized Loans
- Federal Perkins Loans (if applicable)
- Federal Parent Plus Loans
- Federal Pell Grants
- Federal Supplemental Educational Opportunity Grants (SEOG)
To view Coker’s Return to Title IV Policy in its entirety, click here.
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add remove Verification
When completing the Free Application for Federal Student Aid, most of the questions on the form want to know your situation as of the day you sign the application. However, there are some instances in which you’ll want to (or be required to) change the information you reported.
The Department of Education, or the institution, may select your FAFSA to be verified. This process is known as verification. In this case, the accuracy of the information provided on the student’s FAFSA is verified in order to ensure that federal aid is distributed appropriately to those who are eligible. Your FAFSA may be selected for verification due to estimated information, inconsistencies, conflicting information, incompletion, or random selection.
Students will be notified that they are selected for verification via their student aid report (SAR) as well as through email, mail, or phone. If your FAFSA is elected by either the Department of Education or by Coker University, you are required to provide the requested documentation to the University and its representatives. This documentation will be used to verify the information you entered on the FAFSA. The student will receive a notification from KHEAA Verify to create an account at their site and submit requested documentation regarding verification. The Office of Student Financial Planning utilizes KHEAA Verify to process verification and unusual enrollment history information on the university’s behalf.
If you choose not to or fail to submit verification documents, the university will be unable to complete the review of your eligibility for financial aid. In rare cases, a student who has already been awarded federal and/or state financial aid may be selected for verification after financial aid has been disbursed. In the event that this happens, we will send notification by email. Failure to comply with the verification requirements will result in your aid being canceled and any future aid not disbursing to your student account. If financial aid had already disbursed to your student account, your financial aid will also be canceled which may result in a balance on your university student account. If you are selected for federal verification but do not wish to complete the process and want to cancel your aid application, you should send written notification to the Office of Student Financial Services.
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add remove Awarding
The Department of Education mandates that Coker University determine a student’s eligible for specific other Title IV aid that would reduce the need for borrowing before allocating loan funds. Prior to awarding loans, pell grant and campus-based funds before awarding loans. Concurrently, the university must award Direct Subsidized Loan funds for the maximum amount for which the student is eligible before awarding the Direct Unsubsidized Loan. However, if the amount of the Direct Subsidized Loan would be $200 or less and the amount can be included as part of a Direct Unsubsidized Loan, then the university is not required to originate a separate subsidized loan per federal guidelines. For a dependent student, Coker may originate a Parent PLUS and disburse Parent PLUS funds without determining the student’s Pell Grant and Direct Subsidized Loan eligibility. Determining Pell eligibility is not relevant for Graduate PLUS, but Coker will determine a graduate/professional student’s maximum Direct Unsubsidized eligibility before the student can apply for a Graduate PLUS.
As part of the financial aid awarding process, loan eligibility must be determined and verified. When awarding direct loans, the student’s academic level (year in school) is used to determine the amount of loan funds available as per federal guidelines. The academic levels are defined as freshman (0-27 completed credit hours), sophomore (28-57 completed credit hours), junior (58-89 completed credit hours), and senior (90+ completed credit hours). Transfer students are assigned an academic level based on the number of accepted transfer hours per the Coker University academic catalog. Additionally, loan eligibility is also determined based on the student’s annual loan limit as well as their aggregate loan limits as per federal guidelines.
Please see academic level loan eligibility in Table 2.0
Please see aggregate loan limits in Table 2.1
Coker does allow students to reduce their loan amount for an enrollment period. As such loan origination for less than the student’s yearly maximum eligibility can occur with a written request from the student. Students who are close to or have met the maximum loan amounts will receive written notification from the Office of Student Financial Services. if their loans are reduced to cover just tuition, or tuition and books, etc. A copy of the letter or email will be retained in the student’s file.
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add remove Borrower and Self Certification Form
Coker’s borrower and self certification form is available here.
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add remove Professional Judgement Policy
View Coker’s Professional Judgement policy here.
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add remove Financial Aid Code of Conduct
View Coker’s Financial Aid Code of Conduct here.
FAFSA Deadline Dates
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Fall 2024 May 1, 2024 Spring 2025 October 1, 2024 Summer 2025 March 1, 2025 -
add remove 2023-2024 FAFSA
Fall 2023 May 1, 2023 Spring 2024 October 1, 2023 Summer 2025 March 1, 2024
Important Links
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- FAFSA on the Web
The Free Application for Federal Student Aid. Used to apply for all forms of Federal Aid and most forms of Need Based Aid. - Student Financial Assistance
A source of information for students seeking knowledge on the Financial Aid process and regulations. A US Department of Education Web Site. - StudentLoans.gov
Direct Lending Entrance Counseling, Master Promissory Note, PLUS Loan Prescreen - FinAid
A student guide to Financial Aid - South Carolina College Aid
A source of information for South Carolina residents seeking college financial aid from their State. - Army Emergency Relief Scholarship
For spouses of active duty Army soldiers and the widows and widowers of soldiers who have died while on active duty. This scholarship is to assist spouses in furthering their education. - The South Carolina Tuition Grant
Information Regarding the Grant for South Carolina Residents who attend an SC Private College Full Time. - The GI Bill Express:
A source of information of the Government Issued Military Grants and Scholarships. - Wired Scholar
A search engine for Student Scholarships. - Broke Scholar
Access to a searchable database of over 650,000 scholarships - Fast Web
A search engine for Student Scholarships. - Tuition Exchange
A Coker Employee Benefit: Attend another College at the Tuition Rate of Coker University - Selective Service Online
Are you registered for Selective Service? It’s required for Federal Aid - National Student Loan Data System Exit Counseling
Complete Exit Counseling. - National Student Loan Data System
The NSLDS is the U.S. Department of Education’s central database for student aid. NSLDS receives data from schools, loan agencies, and U.S. Department of Education programs. A student can use the web site to make inquiries about Title IV loans and/or grants. The site displays information on loan and/or grant amounts, outstanding balances, loan statuses, and disbursements. To use the web site, you will need to provide your social security number, the first two letters of your name, your birth date, and your PIN.
- FAFSA on the Web
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- AES
AES offers resources to students regarding budgeting, estimating your loan payments, grace period, interest savings, debt repayment, and consolidation. - Discover
Discover Student Loans offers a “Borrow Smart Video”, loan planner, and information on establishing and maintaining good credit. - Sallie Mae
Sallie Mae offers information on understanding student costs, planning wise, investment planner, etc. - WellsFargo
WellsFargo offers “Hands on Banking” that provides young adults with tips on budgeting, savings, and credit counseling
- AES
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add remove KHEAA Verify
KHEAA has been contracted to complete all verification, unusual enrollment history, and citizenship verification for Coker University. All verification, unusual enrollment history, and citizenship documents are available by signing into MYKHEAA at www.kheaa.com. All forms and documentation are to be completed and submitted to KHEAA Verify as soon as possible. KHEAA Verify will contact the student if the documents received are incomplete or if additional information is required to complete the verification process, unusual enrollment history process, and/or citizenship process. Students and parents would contact KHEAA Verify with any questions concerning the receipt of their documents or their verification, unusual enrollment history, and/or citizenship status. KHEAA Verify contact information is listed below.
KHEAA VERIFY
P.O. Box 4048
Frankfort, KY 40602
Fax 502-696-7230
Phone 855-272-8771
www.kheaaverify.comSouth Carolina Tuition Grant Verification Deadline: Students that are legal residents of South Carolina must have verification and unusual enrollment history processing completed prior to November 15 in order to be considered for the South Carolina Tuition Grant.
How does a student begin the verification process?
- Go to http://www.kheaa.com and click “Sign In”.
- Sign in to MyKHEAA with the student’s ID and password. (First-time MyKHEAA users must register first.)
- Click on “KHEAA Verify”.
- Complete the required verification forms.
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add remove The Ombudsman Office
The Ombudsman Office is a final resource after individuals look for help through other customer service avenues. Before contacting the Ombudsman, borrowers concerned about student loans should contact their loan holder or visit our web site for further information. Current students should contact their financial aid office first.
When contacting the Ombudsman Office, be ready to:
- Identify the problem and the reason behind it
- Define expectations
- Describe actions already taken to resolve the problem
- Supply Documentation to support your position
The easiest way to contact the Ombudsman is to file an on-line assistance request thru http://studentaid.gov/feedback-ombudsman/disputes/prepare. Other contact options are:
Mail:
FSA Ombudsman Group Mailing Address
U.S. Department of Education
Office of Federal Student Aid
P.O. Box 1854
Monticello, KY 42633FSA Ombudsman Group Contact Information
Phone: 1-800-433-3243
Website: http://studentaid.gov/feedback-center/ (best used to initiate a case)
Cohort Default Rates
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add remove 2020
- FY 2020 Official Cohort Default Rate is 0.0
- The national FY 2020 Cohort Default Rate is 0.0
Important Dates
Financial Aid Important Dates 2024-2025
Undergraduate Dates 2023-2024
Graduate Dates 2023-2024