Graduation & Financial Aid
Congratulations on your achievement! Here is important information to help prepare you for your next steps.
Federal aid impacts of graduation
Per federal regulations, once students earn a degree, they are no longer entitled to receive aid (grants, loans, work-study) unless they are enrolled as a degree-seeking student. Once our office is notified that you have applied for graduation, we will place a hold that will prevent aid in future semesters.
All graduating students are required to complete the Stafford Loan Exit Counseling and Perkins Loan Exit Counseling, if they borrowed Stafford or Perkins loans at any time during their undergraduate career. The exit counseling should become available about 30 days before your commencement.
Seeking 2nd bachelor's degree
If your degree is awarded and you plan to become a second-Bachelor's degree-seeking student, we cannot remove your graduation hold or award you future aid until we can see that a new major has been declared. Once this is done, you need to submit an Enrollment Change Form to be awarded your Stafford loans up to your undergraduate loan limits. You will not be eligible for grants if seeking a second Bachelor's degree.
Becoming a graduate student
If you plan on becoming a Graduate student in the next semester, you will need to submit an Enrollment Change Form letting us know. In addition, we are unable to pay out financial aid at the graduate level until your undergraduate degree is conferred. Typically this happens 30-45 days after the end of the term in which you graduated.
Applied for graduation, but will not graduate
You must withdraw your graduation application and submit an Enrollment Change Form for the subsequent semester so we can award you aid. If you are a recipient of Pell grant, you must also submit a Pell Appeal Form. Federal regulations state that students who are eligible to graduate with a bachelor’s degree and choose to extend their enrollment without graduating cannot continue to receive the Pell grant. If you complete the requirements to earn a degree and continue to take undergraduate courses without accepting the degree (for a second major or minor or second degree), we will cancel your Pell grant for any subsequent semesters as you are no longer eligible for that grant.
Graduating in the Fall Semester
Students who plan on graduating at the end of the fall term, will be placed in a fall-only budget. In accordance with federal guidelines, undergraduate students will have their Direct Stafford loans prorated to match their exact enrollment. This means, the student cannot have their entire loan award disbursed in the fall term if they plan on graduating in the fall. The same is true for grants. Students attending ¾ time will receive 75% of their fall portion of their grant and those attending ½ time will receive 50% of their fall portion.