Financial Aid Policy
Financial aid such as federal, state, and institutional grants and scholarships are awarded based upon the total number of registered credits on the “Last day to add with faculty signature – Full Semester class” as noted on the Academic Calendar. Students must register for internships, Time 2 classes, and ACTC classes before the “Last day to add with faculty signature-Full Semester class”. Financial aid will not be adjusted for classes added after this date.
Maximum Augsburg aid: The combination of any Augsburg gift aid along with the federal Pell and SEOG grant and the Minnesota State grant cannot exceed the cost of Augsburg College tuition and direct fees.
Cost of Attendance: All aid for a student must fit within the student’s Cost of Attendance (COA).
Outside aid sources and loans: A student may receive student loans and outside aid in excess of the cost of tuition. All aid for a student must fit within the student’s Cost of Attendance. (COA).
Students must earn the financial aid they are awarded each semester by actively attending and participating in classes throughout the semester. Financial aid is recalculated when students do any of the following: drop classes without a “W” grade, fail to begin classes, cease to attend classes, fail all classes, or fully withdraw from all classes.
Financial Aid-Return of Aid Policy
Students must earn the financial aid they are awarded each semester. A student can earn their aid by attending classes, or in the event of hybrid/online courses, be an active participant in the course.
Federal/State Aid Adjustments
Augsburg is required to return unearned federal/state aid for students who fully withdraw from their courses. Student are eligible to keep more aid the longer they attend their courses. After 60% of the term has passed, students are eligible to keep all of their federal/state aid. If you are planning to completely withdraw from your courses, please see a Student Financial Services counselor to determine what aid may need to be returned.
Institutional Aid Adjustments
Augsburg will return institutional aid for students who partially withdrawal or fully withdraw from courses if the student received. If students withdraw from heir courses they will receive a 50% tuition refund and 50% of their institutional aid will be removed. If a student withdraws after the last day to receive a tuition refund, there will be no adjustment to their institutional aid.
Financial Aid is based on your registered courses. If a student withdraws, drops or stops attending courses before they have completed 60% of their original enrollment their financial aid may be adjusted. While the policy is the same for summer aid, it can be more confusing as students tend to take less full-summer courses. Before you make changes to your class schedule you may want to contact Student Financial Services to learn how your aid may be adjusted.