Admission, Financial Aid and Charges
Graduate Program Admissions
The Council determines the minimum requirements for graduate admissions as well as the typical admissions process used to review applicants for all graduate programs. Specific graduate programs may set additional requirements to meet the needs of specialized professional accreditors. Minimum admission requirements for all graduate programs are provided in the Academic Catalog.
Admissions Into Accelerated Master’s Programs
Students interested in admission for accelerated graduate study should contact their faculty advisor, the graduate Program Director, and the Office of Admissions as early as possible. All applications for graduate program admission including early admissions for accelerated graduate studies must be formally submitted through the Office of Admissions. All applications for accelerated graduate study must be approved by the graduate Program Director.
The minimum requirement for undergraduate students to be admitted into an accelerated program to begin graduate coursework while still undergraduates is the completion of 60 undergraduate credits. Specific graduate programs may create additional admissions requirements including GPA minimums.
Students admitted into a master’s program to begin graduate study while completing the bachelor’s degree continue to be treated as either residential or online undergraduate students until the bachelor’s degree is awarded for purposes of tuition, fees, room/board requirements and other policies.
Accelerated Master’s Credit Limits and the Double Counting of Credits
A graduate program allowing undergraduate students to begin graduate coursework must limit the total graduate credits taken prior to completing the 120 required for the bachelor’s degree that will count towards completion of the graduate degree. The maximum number of accelerated credits is 12, or no more than 40% of the total credits required for the graduate degree for graduate programs requiring more than 30 graduate credits. Graduate credits taken while an undergraduate may be counted for the 120 credits required for the bachelor’s degree. These same credits may also be counted to fulfill the requirements of the graduate program subject to the maxima described above.
The University of Olivet has set a maximum of 12 graduate credits of transfer credit from other institutions of higher education; graduate programs may accept fewer than 12 credits. Transfer of graduate credit requires curricular review and approval of the Program Director.
Financial Aid
Award Package
The University of Olivet will attempt to meet a student’s financial need up to direct cost. A financial aid package will be awarded to all interested students and will only include need-based assistance for graduate students. Students will be notified of aid eligibility in a timely fashion upon receipt of the need analysis document or financial aid application from the student. Requests for any additional materials needed to finalize the financial aid package will be included with the award letter.
Eligibility
In order to be eligible to receive federal or state of Michigan financial aid, students must file a Free Application for Federal Student Aid (FAFSA) and comply with all federal, state of Michigan and The University of Olivet regulations and policies affecting financial aid. Students may apply after October 1 each year and all students are encouraged to apply no later than March 1. The FAFSA form can be completed online at www.studentaid.gov.
To receive federal or state financial aid, graduate students must be enrolled for and attend a minimum of three semester hours per term. For purposes of financial aid, “half-time” is defined as being enrolled in at least three semester hours at the end of the drop period each term. “Full-time” is defined as being enrolled in six or more semester hours at the end of the drop period each term. Students must not be in default of a Federal Student Loan(s) and must maintain satisfactory academic progress in order to be eligible for financial aid.
Eligibility for need-based aid is calculated using federal methodology with need being defined as the difference between cost of education and the amount the student and his or her family is expected to pay. Sources of graduate student aid are at the federal and state government level. Aid may be awarded as scholarships, grants, loans or a combination of any or all of these. Scholarships and grants are defined as “gift” aid and do not have to be repaid. Loans must be repaid in accordance with program specifications. For detailed policies regarding financial aid eligibility and awards, see Rights and Responsibilities.
Rights and Responsibilities
The University of Olivet reserves the right to change its financial aid policies at any time. Written or verbal representations by anyone contradictory to the policies stated in The University of Olivet Academic Catalog are not binding. The university uses uolivet.edu e-mail addresses as the primary source of communication method with students. Students are expected to check their e-mail on a regular basis for pertinent information. The following list of statements defines the rights assured, and the responsibilities required, of all students applying for and receiving financial aid while attending The University of Olivet during the academic year.
Annual Renewal of Financial Aid - Students who wish to qualify for federal and/or state aid, including federal loans, are required to file a Free Application for Federal Student Aid (FAFSA) each year to determine eligibility by the March 1 FAFSA deadline. The financial aid package may be adjusted annually based on the renewed FAFSA application.
Document Requirements - Students have the right to reject or accept any financial aid award. Students must electronically accept their financial aid award online at https://my.uolivet.edu/ics. Absolutely no aid will be released to the student’s tuition account until the awards are electronically accepted.
Outside Financial Aid Awards - Any recipient of outside scholarships or grants of $100 or more that are not listed on the financial aid award letter must report the amount and source to Student Services. Adjustments in the aid package will occur only when it is necessary in order to comply with federal and state regulations. Any necessary adjustment to an individual’s award will first be made to the state of Michigan grant and then to student loans.
Tuition Remission - Tuition remission will apply to remaining tuition charges after all other resources (e.g., state and federal grants, scholarships) have been applied.
Sources of Financial Aid
Federal Aid
Graduate students can seek Unsubsidized Federal Direct Stafford Loans. Eligibility for these programs is determined by a methodology established by the United States Department of Education. In addition, Federal Direct Parent Loan for Graduate Students (PLUS) exists for graduate students and parents of dependent students and is not based on need.
- Unsubsidized Federal Direct Stafford Loan - a low interest loan with a current interest rate of 6.54 percent similar to the Federal Direct Stafford Loan (subsidized). Maximum amounts for Federal unsubsidized loans for graduate students are $20,500 per academic year with a total aggregate amount of $138,500.
- Federal Direct Parent Loan for Graduate Students (PLUS) - a loan available to graduate students. Eligible participants can borrow up to the cost of education. The interest rate is currently 7.54 percent as determined by the U.S. Department of Education. Applications are available online by visiting www.studentloans.gov. More detailed information on aid programs is available from Student Services.
Private Student Loan Options
Private loans are additional loan options beyond scholarships, grants and federal loans. Private loans provide a convenient alternative for many college students. Student Services assists students in finding private loan options. The University of Olivet recommends students research alternative sources of scholarships and grants before pursuing private loan options. Student Services certifies several private loans for students to help meet costs not covered by grants, scholarships and federal loans. A list of private lenders The University of Olivet students have used in the past is available at www.uolivet.edu. This list is for informational purposes only and does not constitute an endorsement or preference by The University of Olivet. Borrowers may choose any lender, including one not included on this list.
Charges
Tuition and Fees
Graduate study is charged per semester hour each term at a rate of $904 per semester hour for Master of Business Administration students and $600 per semester hour for Master of Arts in Counseling students or Master of Arts in Leadership students. In addition to tuition graduate students are charged a $115 technology fee per term enrolled.
Special Fees
The following are special fees currently in effect at The University of Olivet for graduate students. Additional fees may be added at the discretion of the university.
- Finance Charge - currently 12 percent (per year) for unpaid tuition and fee balances.
- Late Registration Fee - $75.
- Returned Check Fee - $25 for each occurrence.
- Transcript Fee - no charge for currently enrolled students; $5 per transcript if not currently enrolled.
Late Registration
Current students are required to register online during the designated registration period for each term. Students who fail to register during this period will be assessed a late registration fee. New or returning students who wish to register after the payment due date will not be eligible to register until the following requirements are fulfilled:
- A financial aid file is completed which includes the FAFSA and any required documentation.
- An entrance counseling session is held.
- Any Direct Loan Master Promissory Note is signed.
- Payment in full is made, or acceptable payment arrangement is established.
- Late Registration Form with appropriate signatures is submitted to Student Services.
Payment of Accounts
Students will receive a statement of account at their billing address. Final grades will be withheld if an account is not paid in full. A one percent finance charge is assessed each month on an unpaid balance that is 30 days past due. Failure to make payment when due cancels the student’s privilege of attending classes. Diplomas, letters of honorable dismissal, or recommendation letters will not be granted to students who have outstanding balances with the university.
Payment Options
The University of Olivet accepts cash, checks, Visa, MasterCard, American Express, Discover and The University of Olivetapproved tuition payment plans. Credit card and e-check payments may be made online at https://my.uolivet.edu/ICS/. Students must create a PIN number to allow another individual to make online payments within this system.
The University of Olivet Payment Plans
The University of Olivet offers installation payment plans for the balance of tuition accounts not covered by financial aid. Please visit the website for terms of the payment plans available. Registration for a payment plan may be done through the online portal at my.uolivet.edu. All payment plans require a $30 activation fee.
Defaulting on Payment Plans - Students and parents or guardians who default on payment plans will not be allowed to reregister for payment plans. Additionally, upon default of a payment plan, students will be removed from classes and full payment for the term will be due immediately.
Payment of Balances Due After Leaving The University of Olivet
Students who have left The University of Olivet with a balance due on their student account will need to make satisfactory payment arrangements immediately by contacting Student Services to arrange payment. It is the policy of The University of Olivet to refer unpaid balances to a collection agency after 90 days. Certain official records will not be released for students who fail to meet their financial obligations to the university.
International Students
Prospective international students who wish to apply for a Federal I-20 Certificate of Eligibility for Non-Immigrant Student Status and students with immigrant status via issuance of a Federal I-9 are required to prepay all estimated charges pertaining to one full year of study as a prerequisite to formal admittance to the university and again prior to each subsequent year of study. Proof of external scholarship(s), sponsorship(s) or financial aid is required if it is to be considered as part of the annual payment.
Refund Policy
In order for a student to receive a refund from his or her student account in any term, all of the following requirements must be met:
- The student’s account must show a credit balance;
- The student must have indicated on his or her award letter that he or she wishes to have his or her credit balance refunded;
- All financial aid requirements must be met;
- If student has been awarded a Pell Grant, the student must have this paperwork on file in Student Services;
- If the student has a Michigan Tuition Grant, a student’s name must appear on the verification roster; and
- Any loan proceeds must be received by The University of Olivet.
The refund process will begin after the drop period each term. Only the Chief Financial Officer of the university is authorized to make adjustments on the refund provisions, and all such requests should be directed to him or her.
Tuition and Fee Adjustment Policy (Upon Formal Withdrawal)
Upon formal withdrawal from the university prior to the end of a term, a student may be eligible for a tuition and fee adjustment. The adjustment will be based upon the date on which Student Services is informed in writing of the withdrawal by the student (see Withdraw/Leave of Absence under Academic Procedures).
Academic withdrawal and financial withdrawal are distinct and separate procedures, each with its own policy. For instance, a student withdrawing after the drop period may receive a grade of “W” (see Academic Procedures ). However, the student would not receive a tuition and fee adjustment.
The university policy for tuition and fee adjustment for graduate students who financially withdraw is in accordance with federal regulations, and is as follows:
The University of Olivet adjusts tuition and fees on the following basis:
- Prior to the end of drop period, the student will receive a full tuition adjustment;
- During the 9 calendar days following the initial course begin date, the student will receive a 50 percent tuition adjustment;
- Withdrawal after 9 calendar days following initial course begin date results in no tuition adjustment.
Financial Aid Adjustment Policy
This policy applies to students who receive financial aid assistance while enrolled at The University of Olivet. The University of Olivet complies with the U.S. Department of Education and Michigan Department of Education regulations regarding refunds of student charges and financial aid. All policies are available at the student’s request in Student Services, Mott 205. Students who drop from full-time to part-time status will have their tuition prorated based on the criteria outlined for an institutional withdrawal. When a student’s enrollment status drops below full time (6 semester hours), a reduction in financial aid might be required.
If a student receiving Title IV (Federal) Financial Aid withdraws from the university, his or her funds must be adjusted in accordance with the policy established by the U.S. Department of Education. This calculation may result in the student owing the university. The adjustment policy is as follows:
- The percentage of Federal Financial Aid that has been earned by the student is equal to the percentage of the term that the student completed as of the withdrawal date. If this date occurs after the completion of 60 percent of the term, the student is considered to have earned 100 percent of the Federal Financial Aid funds for that term and no Federal funds must be returned.
- The percentage of unearned Federal Financial Aid must still be returned regardless of whether the student is eligible to receive an adjustment of a portion of university charges (tuition, fees, room or meal plan). The return of Federal Financial Aid funds will be in the following order:
- Federal Unsubsidized Stafford Loan
- Federal Direct PLUS (Parent) Loan
- Other federal loan or grant assistance
- In addition to Federal Financial Aid adjustments, the institution will distribute remaining aid back to its source in the following order:
Private aid generally has criteria and guidelines pertaining to withdrawals specific to the funding source and these criteria and guidelines will be honored.
In addition, students will have funds returned to them only if remaining aid and cash payments exceed charges as determined under the Tuition and Fee Adjustment Policy.
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