Excelsior Financial Aid and Policy Changes eff. Jan. 1, 2008

[barcotta]

Below please find the text from an email I received from Excelsior College today with regard to upcoming financial aid and policy changes:

In earlier communications I noted that Excelsior has become eligible to administer Federal financial aid programs and I pledged to keep you informed of our progress toward implementing them. This letter is making good on that promise and provides an opportunity for me to advise you of other updates that will make your Excelsior College experience more meaningful.

You need to know about these now so that you can plan and act in a timely fashion. I’ve highlighted below some steps you will need to take if you wish to apply for Federal financial aid.

Increased Financial Aid Options

Excelsior’s overall mission is “…to expand educational opportunity, with efficiency, economy, and academic excellence.” The availability of Federal financial aid programs (often referred to as Title IV) will provide economic benefits to many who qualify for Pell Grants, and Stafford and PLUS Loans. We will begin administering these programs on January 1, 2008. Under Federal guidelines, in order for you to participate in any of these programs, you must meet certain financial and academic criteria:

To qualify from a financial perspective, it will be necessary for you to complete the Free Application for Federal Student Aid or FAFSA form. This is the same form that you may have completed if you have a dependent who is in college and who had applied for assistance through a Federal financial aid program or from the college itself. Whether or not you previously provided information about your finances on a dependent’s FAFSA, this time you are the student and completion of a FAFSA will be necessary if you intend to seek Federal financial aid. You can access this form by going on the Web to FAFSA - Free Application for Federal Student Aid.

When completing this form, be sure to have the results sent to Excelsior College by adding the Excelsior College code number of 014251 in the proper space. If you wish to apply for any of the Federal financial aid programs noted above beginning with the January 2008 term, I recommend that you complete the FAFSA sooner rather than later.

A tutorial is available that walks you through, step-by-step, on how to complete the FAFSA form. While the tutorial is targeted toward families of persons graduating from high school, the information is also applicable to the adult student.

Go to the tutorial now
To qualify from an academic perspective, Federal rules require that you maintain at least half-time status each term to receive aid for that term. At Excelsior, a term is defined by course length (8, 12, or 15 weeks) during which you must be taking Excelsior College courses for a total of at least six (6) credits.

Policy Updates

Another primary element in our mission is “academic excellence.” We are committed to maintaining the high standards that our faculty establish and that our students and others expect of us. To further enhance the value of your Excelsior College degree we have revised certain policies. Beginning January 1, 2008,

transcripts issued by the College will reflect two Grade Point Averages (GPA): one for credits earned through Excelsior College courses and examinations (EC GPA) and an overall GPA that will reflect the combination of credits earned through Excelsior College courses and examinations, and any credits accepted in transfer. This change is meaningful in that your transcript will more accurately reflect your most recent academic experience.
“D” grades will no longer be accepted in transfer.
all grades, including “F” and “W” grades, earned in an Excelsior course or on an Excelsior College Examination will be posted on Excelsior College transcripts.
excess credits, those that you may have earned and have been submitted as transfer credits but which do not apply toward Excelsior College degree requirements, will no longer appear on your Excelsior College status report or transcript. If your current status report contains excess credit, contact your advisor prior to January 1 to discuss how these credits will be handled on future official college documents.
Be sure to log in to your MyEC Page on our Web site for additional information. After doing so, if you have questions, please contact your academic advisor.

As a final update, please note that various standard reports, such as our campus security report, are available for viewing at our Web site. You may find these reports at www.excelsior.edu/policies.

We are excited by the ability to offer a variety of financial aid opportunities. Reducing the “affordability barrier” to higher education has been a long-term goal of Excelsior College which is why we have sought to open the door to various forms of Federal financial aid for as many of our programs as possible.

Additionally, as we become more of an institution of instruction, offering courses as well as assessments and study plans, we are reviewing our academic policies and procedures in ways that we believe will further demonstrate the credibility of an Excelsior degree while allowing us to become even more responsive to your needs.

Please do not hesitate to contact us if you have questions or concerns.

Ever Upward,



John F. Ebersole
President

P.S. I hope to see you at a future Commencement.

[skybirds]

Is it possible to apply and get student
aid pell grants and perkin loans while working overseas I will be teaching English
in Bogota and will study on the side.

[ShotoJuku]

This is great news!

[mapalo]

This is great awesome