Relay offers direct unsubsidized student loans and TEACH grants to help cover costs of attendance for eligible, matriculated students in Title IV eligible programs (MAT, Advanced Certification). Applicants and students interested in applying for federal financial aid will need to complete the Free Application for Federal Student Aid (FAFSA) at the US Department of Education’s website, www.fafsa.ed.gov (Relay’s school code is 042086). Applicants for admission may submit their FAFSA before completing the admissions process, but decisions about federal financial aid are not finalized until the admissions process has been completed. Students not interested in requesting loans or TEACH grants do not need to submit FAFSAs.
Satisfactory Academic Progress and Title IV
Recipients of federal financial aid are required to maintain Satisfactory Academic Progress (SAP) in order to be eligible for any Federal Title IV student-aid program. If students are placed on academic probation for a term, they will also be placed on federal financial aid warning status for that term. During the warning term, students remain eligible for federal student loans and TEACH grants. Students have one term to return to satisfactory academic standing; failure to do so will result in program dismissal from Relay and ineligibility for all Title IV assistance. Students who then successfully appeal their program dismissals and remain enrolled at Relay will be placed on financial aid probation and will be eligible to receive federal financial aid for only one more term, after which they will lose eligibility unless they make satisfactory academic progress at the end of the term or otherwise meet the requirements of the academic plan set by the Office of the Provost of Teacher Preparation. Additionally, students will lose eligibility for Title IV assistance from the point at which they are no longer able to complete the full program within 150% of the published program length. Please see Academic Standing and Satisfactory Progress for details.
Return of Title IV
All Title IV funds (including federal direct unsubsidized loans and TEACH grants) are awarded to students under the assumption that students will attend Relay for the entire period for which federal financial aid is awarded. Under return of Title IV regulations, students are considered to have withdrawn from the term if they do not complete all the days in the term they were scheduled to complete. Students earn the federal financial aid they have been awarded in direct proportion to the number of days in the term they remain enrolled as active academic participants through the 60% point in the term. Students who withdraw or otherwise cease academic activity after the 60% point earn 100% of the aid received for that payment period and will not be required to return any portion of that aid.
If recipients of Title IV funds withdraw from Relay after beginning attendance during a term, Relay will calculate the amount of federal financial aid that students have earned. If the amounts disbursed to students are less than the amounts earned, students are eligible to receive a post-withdrawal disbursement. If the amount disbursed is greater than the amounts earned, Relay will return the unearned funds to the Department of Education. If students owe funds to Relay as a result of Relay returning unearned funds to the Department of Education, students will be responsible for paying Relay the full balance of any funds owed.
Students who receive federal loans or TEACH grants to finance their education at Relay will be required to complete exit counseling when they graduate or when they cease to be enrolled at least half time. The completion of exit counseling is a requirement for graduation from Relay and a federal requirement for those students who withdraw or drop their enrollment status to below half time. Graduating students who do not complete exit counseling on time are subject to bursar holds.