Undergraduate Financial Aid

Financial aid is intended to assist qualified students who need assistance in meeting their educational expenses. Plymouth State University views financial aid as an investment in PSU students’ futures. The major objective is to assist in educational access for those who may lack the financial resources to pursue a degree. Only classes that count toward meeting degree requirements are eligible for financial aid.

Programs administered by the Financial Aid Team include the University’s need-based grant program, the federal campus-based programs (Federal Supplemental Educational Opportunity Grants [SEOG] and Federal Work Study). PSU merit awards are coordinated with the Admissions Office or PSU departments offering endowed and annual awards. In addition, the Financial Aid Team certifies eligibility and administers other awards, such as Federal PELL Grants (PELL), state scholarships and grants, Federal Direct Student Loans, Federal Direct Parent Loans for Undergraduate Students (PLUS) loans, private loans, and external scholarships.

Financial aid applications are processed by Plymouth State University upon receipt of the information from the Department of Education as a result of students/families filing the Free Application for Federal Student Aid (FAFSA). Students must be accepted to a degree or eligible certificate program at PSU before financial aid can be awarded. The FAFSA should be submitted prior to official acceptance to PSU, and before the priority deadline (March 1) to maximize financial aid eligibility.

Application Process

To be considered for financial aid, applicants must complete the FAFSA for federal, state, and University need-based aid. Parent(s) and student IRS transcripts (1040/1040A/1040EZ/1040TEL), W2 forms, and other documentation may be requested if verification is required by the federal government or PSU. If verification is required, final determination of aid eligibility will not be possible until the requested documentation is received and reviewed.

Priority Filing Date

PSU’s priority filing date is March 1 for the FAFSA to be received by the Department of Education. All applicants should adhere to the March 1 priority filing date to ensure maximum consideration for financial aid. PLUS and private student loan eligibility, PELL, SEOG, Federal Direct Student Loans, PSU Merit awards, and eligible state scholarships or grants are not impacted by the priority filing deadline. Note, families must complete the FAFSA form to be eligible to receive a PLUS.

Satisfactory Academic Progress

In accordance with requirements of the Higher Education Act (34 CFR 668.34), Plymouth State University has established certain standards for evaluating the Satisfactory Academic Progress (SAP) of Title IV Financial Aid recipients. The Satisfactory Academic Progress policies and procedures are reviewed when changes at the federal or institutional level require us to do so to ensure compliance with federal regulations. This policy also extends to state and institutional aid programs (grant, loan, and work study).

Satisfactory Academic Progress (SAP) is the measurement of a student’s academic progress towards the completion of their degree. The measurement evaluates three components to determine eligibility for financial aid. The review of a student’s SAP status is based on his or her entire academic record, even if he/she did not receive financial aid for previous semesters of enrollment. In order to be eligible for financial aid, undergraduate students must satisfy all three of the following components:

  1. All undergraduate degree candidates must maintain academic standing consistent with PSU’s graduation requirements regarding grade point average (GPA) by maintaining a minimum cumulative GPA of 2.0. Audited coursework is not included in the GPA calculation.
  2. The completion rate is calculated by dividing total earned credits by total attempted credits. A student’s completion rate must stay above the required 67 percent to be considered satisfactory for this component. Attempted credits include successfully completed courses, courses with non-passing grades, incomplete courses, withdrawn courses, transfer credits, and repeated courses. Earned credits include successfully completed courses and transfer credits. Audited coursework is not included in this calculation.
  3. Maximum time frame of 150 percent of defined academic length for bachelor’s degree programs. The maximum time frame is calculated by multiplying the published program length by 150 percent. Example: Published program length of 120 credits X 150% = 180 credits maximum time frame allowed to complete degree requirements. Implication: A student has attempted (not necessarily earned) 180 credits and has now exhausted his/her eligibility for financial aid.

Note, to graduate in four years (eight semesters), undergraduate degree students must complete an average of 15 to 15.5 credit hours per semester for eight semesters.

Evaluations and Notifications

The PSU Financial Aid Team evaluates SAP annually at the end of each spring term for undergraduate students, or upon re-enrollment into the University. SAP is also reviewed at the end of each probationary period as applicable. Students must be making SAP to continue to receive financial aid in a subsequent payment period, including the summer and early spring terms. Financial aid applicants not meeting SAP standards will be deemed ineligible to receive financial aid.

Financial Aid Termination

Ineligible satisfactory academic progress status will result in the loss of all federal, state, and PSU aid, including grants, scholarships, loans, and work-study employment, until the student has met required guidelines and returns to an eligible status.

Appeal Process

Students who do not meet the minimum SAP requirements for continuance of financial aid have the right to appeal when special circumstances exist. Conditions when a student may appeal include:

  • If you or an immediate family member experiences a serious injury, illness, or mental health condition, please attach a statement from your physician or mental health professional, reflecting date(s) of occurrence/treatment.
  • If you experienced the death of immediate family member, please attach a copy of the death certificate, paper obituary/link to online obituary, or statement from physician.
  • If you experienced other circumstances beyond your control, please attach documentation that supports the situation.
  • Students will receive communication from the PSU Financial Aid Team regarding their ineligible status and will be advised of the requirements needed to file an appeal. If an ineligible student does not appeal, reinstatement for financial aid consideration will only occur once the student meets all of the SAP requirements. In addition, students must submit all requested documentation.

Approved Appeals/Financial Aid Probation

If an appeal is approved, financial aid will be reinstated for the following term and the student will be placed on probationary status for that term. The student will be required to successfully complete (with passing grades) all courses attempted for that term. Successful completion of all classes (with passing grades) will allow a student to return to an eligible status for financial aid. Failure to meet these requirements will automatically place a student back to ineligible status.

Denied Appeals

Students whose appeals are denied will receive notification that they are ineligible for financial aid. The student may enroll in coursework but will be responsible for payment in full of all incurred costs. Students may wish to explore private/alternative education loans; however, please note that some private loan lenders require SAP for participation in their loan program. Be sure you are selecting a lender that does not require SAP (SAP denied students are not eligible to receive a [PLUS]).

Re-Establishing Financial Aid Eligibility

A student may regain financial aid eligibility by successfully meeting the University’s SAP policy requirements or successfully meeting the requirements of the established academic plan. Students must notify the office in writing of their intent to use financial aid again.

Financial Aid Eligibility for Repeat Coursework

In some cases, matriculated students may wish to repeat a course, either to increase their GPA or replace a failing grade. This may affect their financial aid eligibility for the course itself or for future terms. Only classes which will count toward meeting degree requirements are eligible for financial aid.

Repeating a FAILED Course

Federal guidance allows students to use federal aid to repeat previously failed coursework. The credit hours for all courses attempted, including repeated coursework, will be counted in Satisfactory Academic Progress (Undergraduate) calculations. The repeated coursework will also count as part of a student’s enrollment status for the payment period they are repeating.

Repeating a PASSED Course

If a matriculated student is repeating a previously passed course, federal guidance allows student to repeat and receive aid one-time. All hours of any courses attempted will count in all Satisfactory Academic Progress calculations. Students are encouraged to contact not only their academic advisor regarding PSU academic consequences but also a member of the Financial Aid Team if they are planning to repeat any coursework. They will want to be sure they understand how retaking courses will be treated by PSU academics as well as financial aid as required by federally mandated Satisfactory Academic Progress policies.


Financial aid funds are disbursed to student accounts by Student Account Services at the beginning of each enrollment period after confirmation of course registration, number of credits, and course start date. The federal government’s academic year for aid eligibility begins July 1 and ends June 30. Financial aid funds for the summer term will be disbursed on or after July 1.

Return of Federal Title IV Financial Aid

If a student receives federal financial aid and withdraws or stops participating in their coursework before 60 percent of the enrollment period, a portion of the awarded federal aid must be returned. The amount to be returned is calculated by the Student Account Services Office and the Financial Aid Team and may result in the student owing a balance to PSU, the Federal Direct Loan Program, or both. Return of Title IV Fund estimates are available from the Student Account Services Office.

Financial Aid Implications for Students on a Formal Leave of Absence

If a student currently receives financial aid, their financial aid award will be reevaluated as a result of the leave. If the date of the leave precedes the start of classes, the financial aid will simply be cancelled.

If the date of the leave is after the start of classes, the financial aid award will be adjusted according to federal regulations and institutional policies. Students must adhere to all published deadlines in applying for financial aid before returning to PSU.

Federal Loan Repayment

Repayment on students’ loans begins after they graduate, leave school, or drop below half-time enrollment. Generally students have a grace period before they have to begin repayment. The grace period is a determinate length of time when no payments are due. Students can start repaying during the grace period and save some money in the long run.

  • Federal Perkins Loans – the grace period is nine months.
  • Federal Direct Loans – the grace period is six months.
  • Federal PLUS Loans – repayment begins 30 to 45 days after the final loan disbursement.

Note: Students are responsible for beginning repayment on time, even if they do not receive information from their lender or servicer.