SATISFACTORY ACADEMIC PROGRESS REQUIREMENT
The Department of Education requires that students be enrolled in qualifying programs and make satisfactory academic progress to qualify for financial aid. This section discusses satisfactory academic progress only as it relates to financial aid eligibility. Official policy regarding satisfactory academic progress is determined by your specific academic program at IIT.
Withdrawal Date
This is the date that the student began the withdrawal process described by the school or the date that a student otherwise provided official notification to the school of the intent to withdraw. The school may determine the appropriate withdrawal date if the school determines that a student did not begin the withdrawal process or otherwise notify the school of the intent to withdraw due to illness, accident, personal loss, or other circumstances beyond the student's control.
Approved Leave of Absence
A student is eligible to receive an approved financial aid leave of absence, not to exceed 60 days during a 12-month period, for which the student is not considered to have withdrawn and a refund calculation is not required. Additionally, a federal loan does not go into repayment until after the student's approved leave of absence has elapsed. If the student does not return at the leave's expiration date, or if a student takes an unapproved leave of absence, the student's withdrawal date reverts to the last recorded date of class attendance, as documented by the institution. The Office of Financial Aid is then required to calculate the refund based on the date last attended, as documented by the institution. To receive an approved leave of absence, students should visit the Registrar's Office and make a written request for the leave of absence. The school can only grant one leave of absence to the student in any 12-month period.
Dropping Classes
If a student drops a class, the Bursar's Office determines a reduction of charges that may produce a credit balance in the student's account. The Office of Financial Aid must determine what portion, if any, of the credit balance is from Title IV aid funds and what portion is attributed to other sources, including cash payments made to the student. The refund amount attributable to Title IV aid is returned to Title IV program accounts in the order described under the Refund and Return of Title IV funds policy section.
Course Repetition
Repetition of a course is allowed only with the approval of an academic dean. Credits taken for a repeated course will not count toward course load in regard to federal financial aid eligibility (i.e., financial aid may not be applied toward these classes). The student should contact the Financial Aid Office to determine the effect on financial aid.
Disqualification
A student who has been academically disqualified from IIT will lose financial aid eligibility at IIT.
Preparatory Coursework Loan Limits
A student taking preparatory coursework that the school has determined and documented to be necessary for the student to enroll in a graduate or professional program may borrow at the fifth-year undergraduate loan level. If the student meets all other eligibility criteria, the student may borrow up to:
$5500 Federal Stafford (subsidized and unsubsidized) funds.
$5000 in additional unsubsidized Federal Stafford loan funds.
A student is eligible for loans for one period of 12 consecutive months beginning on the first day of the loan period for which the student is enrolled.
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