Terms and Conditions for Receiving Financial Aid
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The information below has been prepared to help you understand financial aid at Montana Tech of The University of Montana. All information applies to students attending both campuses at Montana Tech. There is information that will tell you about your Award Notification, how to respond to your aid offer, how your financial aid will be disbursed and what is expected of you for Satisfactory Academic Progress. You are responsible for knowing the policies and procedures described in this message.
We want you to know that our award offer represents the most equitable award we can make based on the information you submitted, the estimated funds the university will have for the current academic year, and when you applied for financial aid. It is possible that your award package may change if regulations or funding levels change or if your financial aid eligibility profile changes. If you have any questions, please let us know.
About the Award Notification in Determining Eligibility
The three components used to determine your eligibility for financial aid are:
- Cost of Attendance;
- Expected Family Contribution;
- Other Financial Resources available to you.
Cost of Attendance
The cost of attendance represents educational expenses used in determining the amount of financial aid that will be awarded to you. These expenses reflect reasonable spending levels for an academic year, which includes everything from tuition and fees to miscellaneous expenses. This is not the billing amount that you will owe to the school. It is to be used as a guideline for expenses of attending school. Since cost of attendance reflects average costs, you may spend more or less than the amounts allowed.
- TUITION AND FEES: The Board of Regents approves tuition and fees yearly. The amount used in your cost of attendance is an average amount of tuition and fees. Tuition and fees are published on the Business Office website (www.mtech.edu/administration/businessoffice/). Please notice the term that is being displayed.
- ROOM AND BOARD: Room and board is an average for both students living on campus in a resident hall and off campus in a shared apartment or other arrangement. For a student living with parents or guardian, the budget is reduced.
- BOOKS AND SUPPLIES: The figure used is sufficient for the majority of students attending either campus of Montana Tech. Some students may have higher or lower costs because of required supplies associated with special classes or certain curriculums.
- TRANSPORTATION & MISCELLANEOUS: These components provide for moderate transportation, clothing, recreation, medical, and other personal expenses. Actual expenses may vary depending on living arrangements, priorities and personal obligations and preferences.
IMPORTANT: If attendance is less than or greater than nine months or if enrollment is less than full-time each semester, budget components will be adjusted accordingly. Please remember, most financial aid cannot meet all your costs while you are attending Montana Tech. Therefore, it is very important for you to manage your financial resources wisely.
Expected Family Contribution
The Expected Family Contribution is the amount that you and your parents (if applicable) are expected to contribute toward your educational costs. This amount is determined from information provided on your Free Application for Federal Student Aid (FAFSA) according to a formula established by Congress. You do not necessarily have to pay this amount nor does it mean that financial aid will take care of all costs if the EFC is 0. However, for awarding purposes we must use the figure as the Federal Methodology determined it.
Outside Financial Resources
This represents other known and expected financial resources you will have available to assist you with your educational costs, such as scholarships, tuition waivers, Vocational Rehabilitation, etc.
Your Financial Need is determined by subtracting your Expected Family Contribution and Outside Resources from your Cost of Attendance.
How is Financial Aid Awarded
Your award package is based on a combination of funds available and your eligibility. Your award package may not include funds from all aid programs. Some funds carry restrictions and some have limited funds available with maximum and minimum award limits. Financial aid packages are based on the level of need.
The Federal Pell Grant is the foundation of your package, if you are eligible. The next awards we package are grants (federal, state, and/or institutional). Some grant funds have restrictions, which limit awards to Montana residents and/or exceptional need. Grants, other than Pell, are limited but are awarded to eligible undergraduate students until funds are no longer available. Work-study funds are awarded after grants. Federal Perkins Loans are awarded next. Lastly, we award Direct Loans, which may be Subsidized, Unsubsidized or both for students and/or a Direct PLUS loan for parents of dependent students or for a graduate student who has unmet need. As of July 2, 2012, graduate students are only eligible for Federal Unsubsidized Direct Loans and Direct PLUS Loans.
Accepting/Declining Your Financial Aid
Financial Aid Awards are accepted and declined in your OrediggerWeb Account.
You can accept or decline any part of your financial aid award package by clicking the appropriate button for each fund.
If you want to accept a lesser amount of the Direct Subsidized and/or Unsubsidized Loan than the amount awarded, please indicate the amount you wish to borrow in the box to the right of the award.
Before deciding to accept or reject an award, you should know and think carefully about the following:
- Think about the amount and type of loan being accepted. If you have more than one type of loan, you may be required to repay those loans simultaneously. If you borrow Direct Unsubsidized Loans, you will be charged interest from the time the loan is disbursed until it is paid in full and the accrued interest during in-school and the grace period is capitalized at the end of the grace period. Do not borrow more than you absolutely need.
- If you did not receive sufficient financial aid necessary to enable you to attend Montana Tech, let us know. If you have unique circumstances, we may be able to address them. Indicate your acceptance or rejection of the aid offered by completing your Financial Aid Notification on-line. Awards will be canceled if no response is received.
If you will not attend Montana Tech for one or more of the semesters listed on your Award Notification, please let us know. A change in your enrollment status may affect your eligibility for certain awards. Audit credits do not count toward the credit requirements in determining enrollment status.
About the Financial Aid Programs
Financial aid is money in the form of loans, grants and employment available to students to help pay the cost of attending a college, university, or vocational/technical school. Financial aid comes from the federal government (the largest provider of aid), state governments, the schools themselves, and other public and private sources.
The following is information concerning federal financial and state aid you may have been awarded. Unless otherwise indicated, all financial aid is credited directly to your University business office student account.
Federal Pell Grant
A Federal Pell Grant does not have to be repaid unless a semester is not completed and the aid is not earned. Pell Grants are awarded only to undergraduate students with high financial need who have not earned a bachelor's or professional degree. The amount that you receive will depend on your cost of attendance, whether you are a full-time or part-time student, and the length of time during the academic year you are in attendance. You may not receive Pell Grant funds from more than one school at a time. The lifetime eligibility for receiving Pell Grant is 12 full-time semesters.
Federal Supplemental Educational Opportunity Grant (FSEOG)
A Federal Supplement Educational Opportunity Grant is for undergraduates with exceptional financial need, with priority being given to students who receive Federal Pell Grants. These funds are limited and are awarded in amounts between $0 and $1000 per academic year. An FSEOG does not have to be repaid unless a semester is not completed and it is determined that you did not earn the aid.
Work-study positions are posted on DIGGERecruiting through the Career Services office. If you were awarded work-study, it will be listed on your Award Notification and you will receive more information regarding employment if you accept your award. These funds are limited and are awarded on a first-come, first served basis. Awards range from $0 to $2500 per academic year or up to $1250 per semester.
If you did not receive a work-study award as part of your financial aid package, you may have your name added to the work-study request list by sending in a written request or e-mail to email@example.com. If work-study funds become available, students on the request list will be considered for an award based on their eligibility. Being placed on the wait list in no way assures you that you will receive a work-study award.
Work-study awards are not credited to your University business office student account. You are paid directly on the 1st of each month for the actual hours worked during the preceding month. You may not earn more than your work-study award nor are you guaranteed to earn your entire award. Your employer may decide to pay you, as a regular part-time student employee after your work-study award is exhausted.
Federal Perkins Loan
A Federal Perkins Loan is a low-interest (5percent) loan for students with financial need and who meet the grandfather criteria. The Federal Perkins Loan is for both undergraduate and graduate students. Montana Tech awards Federal Perkins Loans primarily from funds generated from former students repaying these loans. As a Perkins Loan borrower, you are not charged an origination or other loan fee. You have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment. This is called a "grace period". At the end of your grace period, you must begin repaying your loan. Interest begins to accrue at that time. You have up to 10 years to repay. If you accept a Federal Perkins Loan and have not previously borrowed a Federal Perkins Loan from Montana Tech, you must complete Perkins Entrance Counseling and sign a Master Promissory Note through the iPROMise website which will be sent to you from Campus Partners. Awards range from $0 to $3000 per academic year and up to $1500 per semester.
Direct Loans are either subsidized or unsubsidized. The federal government pays the interest on the subsidized loan until you begin repayment and during the authorized periods of deferment. Interest begins accruing on the unsubsidized loan from the time the loan is disbursed until the loan is paid in full. If you allow the interest to accrue, it will be capitalized at the end of the grace period and at the end of any deferment or forbearance. This means that at the end of your grace period the interest accrued will be added to the principal balance of your loan. When you are billed the interest will accrue on the new balance. If possible, your best option is to pay the accrued interest prior to capitalization. Most servicers will send you at least an annual statement with accrued interest. You may receive Subsidized Loan and Unsubsidized Loan or all Unsubsidized. The amount of funding available depends on whether you are a dependent student or not and your year in college.
ANNUAL MAXIMUM LOAN LIMITS
Dependent Students (except students whose parents are unable to obtain PLUS Loans)
Independent Students (and dependent undergrade students whose parents are unable to obtain PLUS Loans)
Freshman and First Year Techinical Level Students 1-29 Credits earned
$5,500 --No more than $3,500 o f this amount may be in subsidized loans
$9,500 -- No more than $3,500 of this amount may be in subsidized loans
Sophmore and Second Year Technical Level 30 - 59 Credits earned
$6,500 -- No more than $4,500 of this amount may be in subsidized loans
$10,500 -- No more than $4,500 of this amount may be in subsidized loans
Junior/Senior (students seeking a bachelor’s degree only): 60+ Credits earned
$7,500 -- No more than $5,500 of this amount may be in subsidized loans
$12,500 -- No more than $5,500 of this amount may be in subsidized loans
Graduate or Professional Students
$20,500 (unsubsidized only)
Aggregate Maximum Loan Limits
Dependent Students (except students whose parents are unable to obtain PLUS Loans)
$31,000 (no more than $23,000 may be in subsidized loans)
Independent Students (and dependent undergrade students whose parents are unable to obtain PLUS Loans)
$57,500 (no more than than $23,000 may be in subsidized loans)
Graduate or Professional Students
$138,500 (no more than $65,500 may be in subsidized loans. The aggregate limit includes all federal loans received for sundergraduate study.)
*Note: If you receive a Direct Subsidized Loan that is first disbursed between July 1, 2012 and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your principal balance.
*Note: If our are a new* borrower on or after July 1, 2013, you may only receive subsidized loans for 150% of the published length of the academic program for which you are enrolled. (For example, a one year certificate program must be completed in one and a half years or the subsidy on the loan is lost.) *A new borrower is one who has never borrowed a Federal loan or has an outstanding balance of $0 on a Federal loan as of July 1, 2013.
The interest rate is calculated each year based on the 10-year Treasury Bill rate plus 2.05% (Undergraduate students) or3.6% (Graduate/Professional students) and is capped at 8.25% for Undergraduate students and 9.5% for Graduate and Professional students. For loans first disbursed on or after 7/1/15 and before 7/1/16, the interest rage is 4.29% for Undergraduate students and 5.84% for Graduate and Professional students.
There is a loan fee of 1.073% from October 1, 2014 through September 30, 2015 and 1.068% for new loans disbursed between October 1, 2015 and September 30, 2016. The loan fee will change depending on the sequestration formula.
Repayment on Direct Loans begins six months after you graduate, leave school, or drop below half-time enrollment. This is called a "grace period." Exit Loan Counseling is required upon degree/certificate completion as well as any time you drop below half-time status and/or withdraw from the University.
If you have already signed a serial Master Promissory Note with the Department of Education, you will not need to sign another promissory note. If this is the first time you have borrowed from the Direct Loan Program, you must complete Entrance Counseling and your Master Promissory Note (MPN). Both steps can be completed at www.StudentLoans.gov.
DIRECT PLUS LOAN
Direct Plus Loans are available to graduate students and to parents of dependent undergraduate students. For dependent undergraduate students, parents are the borrower and must have a credit check before the loan is approved. Parents and graduate students can borrow up to the cost of attendance minus any resources or financial aid the student received. If the parent is denied a Plus loan throughout the credit check process, please contact our office, as you may be eligible for additional assistance from the Direct Unsubsidized Loan Program.
Both loans are initiated by the borrower on www.studentloans.gov under "Apply for a PLUS Loan" option.
Scholarships Awarded by the School
Institutional scholarships are provided to the University by donors who specify the award criteria. The selection process is managed by the Scholarship Committee and/or academic department. Some scholarships are awarded to continuing students and others are specifically designed for incoming freshmen or transfer students.
A scholarship application must be completed each academic year by February 15th for continuing students to be considered for scholarships. The scholarship application is available on Montana Tech's website.
For incoming students, the deadline for applying for scholarships is January 15th. Incoming students must apply for admission and be accepted to Montana Tech in order to receive their personal URL to apply for scholarships.
The donor of private scholarships controls the application process and selection criteria and determines who the recipients are. The donor notifies you of the award, but usually sends the money to Montana Tech for distribution.
How Scholarships are Paid
Most scholarships, both institutional and private, are applied to your Business Office student account each semester. Some may be sent directly to you, but this is the exception. Normally, the university must confirm that you have been accepted and have enrolled full time in courses before payment will be made. If you know that you will be enrolled less than full time (less than 12 credit hours as an undergraduate student), you will need to have your donor or department contact the Scholarship Coordinator to approve payment of your scholarship(s).
If your scholarship arrives after you have already paid your bill for the semester, the scholarship payment will generate a refund check that can be picked up at the Business Office with your Digger ID Card after the scholarship is processed. Your donor may also provide instructions in a cover letter on how the scholarship funds are to be disbursed to you. If no specific instructions are provided, the scholarship is automatically divided equally between fall and spring semesters.
If you have received a Western Undergraduate Exchange (WUE) Scholarship or an Advantage Scholarship, you are paying 150% of in-state tuition. You will receive a credit on your Business Office account for this scholarship.
Private Scholarship Checks
If you have or will receive a private scholarship, the donor should mail your scholarship check, payable to Montana Tech of The University of Montana, and a cover letter to the Scholarship Coordinator. All correspondence should include your name, student ID number or last four digits of your social security number and directions for disbursement. Please inform you donor that it is preferable for Montana Tech to receive scholarship checks for the fall semester in July and in December for the spring semester. Funds are not disbursed until the beginning of the semester, but early receipt of the check ensures that you will have the funds to pay your bill on time. If your scholarship check has not been received by the Scholarship Coordinator by the fee statement payment deadline, you must make other arrangements to pay your bill to avoid cancellation of classes or late charges.
SCHOLARSHIP INFORMATION SOURCES
The Scholarship Coordinator posts outside scholarship links to scholarship searched on the Montana Tech website. Do not pay money for scholarship/financial aid information. Beware of scams.
Students who desire to study abroad and who enroll in courses that are approved by a department at Montana Tech should contact the Director of Financial Aid at Montana Tech. Instructions will be provided for using financial aid with study abroad academic plans.
Disbursement of Funds
If financial assistance is available at the time you are billed for University charges, your award amounts for the semester or term will be listed as estimated amounts on your student billing statement and will be deducted from the total due. This will include billable charges (tuition, fees and room and board if you live on campus), plus any prior term charges or any other charges assessed by the University such as library or parking fines.
Your Financial Aid/Scholarships cannot credit your Business Office student account unless you have registered for classes.
Be sure to check your fee billing statement carefully. Some types of financial aid are listed on your fee bill and others, such as work-study, do not appear. Outside donor scholarships sent to the Scholarship Coordinator may be listed for only one-half of your scholarship unless the donor instructs us differently. Be aware that some donors do not release scholarship funds until after the beginning of the semester or term and, therefore, you may need to pay your student bill before the University receives your scholarship.
Some private loan or alternative loan checks, and some private scholarship checks payable to students are mailed to the University by the lender or donor. In order for you to receive these funds, you must come to the Enrollment Services Office, MG 207, and endorse the check to be posted by the Business Office to your student bill. If your check is more than what you owe to the school, the difference will be made available to you approximately 3 business days later.
At no time does Financial Aid personnel disburse funds. Information regarding your financial aid is submitted electronically to the Business Office for processing. All questions regarding your student billing statement, the amount of any refund you may receive, and when refund or other checks will be released should be discussed with Montana Tech's Business Office. You must finalize your student bill on OrediggerWeb to verify your intention of attending Montana Tech. Financial aid will not pay on your student bill until you have completed this step.
If your financial aid exceeds your University charges, you will be paid (refunded) the difference. Disbursement of financial aid funds begins at the start of each semester and continues until the end of that semester. Please be aware the Business Office will not release a refund check unless you have a Digger ID Card.
If your financial aid does not cover all of the University charges for the semester or if your financial aid has not been processed, those charges must be paid by the due date specified on the Montana Tech website. Failure to pay by the due date may result in late payment penalties and/or cancellation of your registration for the semester or term. If you do not have sufficient funds or financial aid to pay your student bill by the due date, you may wish to use the Montana Tech Deferred Fee Payment Plan.
DEFERRED FEE PAYMENT PLAN
If you will have difficulty in meeting full payment of the University charges by the due date, you may apply for the deferred fee payment plan. This is an installment contract between the University and the student that permits qualified applicants to pay a third of tuition, fees and/or residence room and board charges plus the $30 deferment fee on fee payment day, thus reducing the burden of the entire payment being due all at once. The remaining balance is payable in two additional installments during the term which are stated on the deferment contract. The contract must be completed in the Business Office on the day you wish to make the first payment.
Your Rights and Responsibilities
- You have the right to privacy. All records and data submitted with your application for financial aid are treated as confidential information.
- You have the right to a complete explanation of the award process. If you do not understand your financial aid award, or feel your application has not been evaluated fairly, pleases contact us.
- You have the right to appeal. You may request a review of any decision concerning your financial aid eligibility. If necessary, you may be directed to submit a written appeal and supporting documentation.
- It is your responsibility to provide additional documentation such as tax transcripts, verfication forms, and any additional information requested by Financial Aid personnel.
- It is your responsibility to read, understand and be accountable for all forms or agreements you sign. We recommend you keep copies for your records.
- It is your responsibility to report all scholarships, grants, tuition assistance, vocational rehabilitation, or any other financial resources.
Changes in Your Eligibility
Your awards may be reduced or canceled, or you may be required to repay awards that you have already received if you:
- withdraw or drop below the enrollment status used to determine your financial aid eligibility.
- exceed the lifetime eligibility for Pell Grants of 12 full-time semesters which also affects FSEOG eligibility.
- fail to meet the stated minimum standards of satisfactory progress. See "Satisfactory Academic Progress".
- exceed your financial aid eligibility when other financial assistance is received such as scholarships, grants, tution assistantce, vocational rehabilitation, or other educational benefits.
- exceed the aggregate eligibility limits for the loan programs or are delinquent or in default on other student loans.
- become an in state, WUE, and Advantage student after originally being considered a non-resident student for financial aid purposes.
- submit incorrect information on the FAFSA or other financial aid application forms or documents.
- have been selected for Verification and submit documentation that does not verify FAFSA information, or you fail to submit requested documentation to our office by the prescribed dates.
- do not use financial aid received during the award year solely for expenses related to your education such as tuition and fees, books, supplies, and reasonable living costs.
Come to the University with some money of your own. Even if your aid is prepared on time, funds may not be available until classes begin. You will need money for housing, books, and other immediate expenses.
Register for the appropriate number of credits. You must be registered for the appropriate number of credits, which correspond to the funding level indicated on your Financial Aid Notification.
Pay your own fees and other charges by the due date if your aid is delayed. Fees are due prior to the beginning of each semester. If not paid when due, you are subject to a late fee and/or cancellation of registration.
Do not drop any of your classes or withdraw from Montana Tech without checking first with the financial aid personnel in Enrollment Services. If you drop below the required minimum credit load or fail to complete the appropriate number of credit hours, your financial aid may be canceled and/or repayment required.
Always communicate in a thorough and timely manner by responding immediately to all correspondence from our office. Always include your Student ID on correspondence or when you leave telephone messages. Keep photocopies of all forms and documents you submit to all agencies and offices.
Notify the Enrollment Services Office of any change in either your permanent or campus mailing address, phone number, or e-mail.
Apply every year for Financial Aid by the March 1 priority deadline. Apply every year for campus scholarships by the February 15 deadline.
Adding and Dropping Credits
The Enrollment Services Office officially verifies the number of credits for which all students are enrolled at Montana Tech. This information is used to determine your enrollment status based on the 15th day of University instruction.
Change in Enrollment Status on or Before the 15th Class Day
Disbursement of your aid is contingent upon the number of credits for which you are enrolled at the time your aid is disbursed. This must correspond to the funding level indicated on your most current Award Notification. If your enrollment status changes on or before the 15th class day due to your dropping credits after financial aid funds have been disbursed, including a retroactive drop of credit hours, you may have received funds that you were not entitled to receive. You will receive a bill from the Business Office for any overpayment made to you. If you add credits on or before the 15th class day and you are entitled to additional funds, the Financial Aid personnel will electronically notify the Business Office to credit your student bill with any additional funds you may be entitled to receive.
Withdrawl from Classes After the 15th Class Day
If financial aid funds have been disbursed to you and you withdraw from any class after the 15th day of instruction, but remain enrolled at Montana Tech of The University of Montana, repayment of financial aid funds is normally not required. You may, however, have deficient credits at the end of the semester. Please refer to the following section on "Satisfactory Academic Progress".
Satisfactory Academic Progress Requirements
Students at Montana Tech have a responsibility to maintain certain academic standards and make satisfactory academic progress towards a degree whether or not aid is being received. These standards apply to all grants, loans, work study, tuition waivers, and some scholarships received now or in the future.
Federal law requires the consideration of three factors when determining whether a student is making satisfactory progress toward a degree. These factors are 1) minimum GPA; 2) pace of completion or maximum time frame; and 3) satisfactory completion of a minimum number of credits attempted. Student academic records are reviewed at the end of each enrollment period. Students will be notified if a violation occurs. However, it is the student's responsibility to know if a violation has occurred whether or not the student receives notification from Financail Aid. Students who fail to meet satisfactory academic progress standards for the first time, as long as some credit and GPA are earned, will be placed on financial aid warning and will remain eligible to receive financial aid for one additional semester. Students must meet all standards at the end of the one semester warning period or will be placed on financial aid termination. A student may regain eligibility by enrolling at an accredited college or university, without the assistance of financial aid at Montana Tech, and passing sufficient credits to meet the percentage and/or grade point average standard or as per other arrangement made with the Financial Aid Director. The student must submit written notification to the Director of Financial Aid when this has been accomplished before aid eligibility will be reinstated.
Minimum Grade Point Average (GPA)
Minimum GPA is measured after each semester including summer. Undergraduates are expected to maintain at least a 2.00 cumulative grade point average at Montana Tech. Undergraduate students are not eligible for financial aid if the cumulative GPA at Montana Tech drops below a 2.0 for two enrolled consecutive semesters (ie A student does not meet the GPA requirement during the term and sits out of school for a period of time. When they return, that semester is the consecutive semester. It can also be the very next semester, if the student attends.) Graduate students must maintain a 3.00 cumulative GPA in order to be eligible for financial aid. Graduate students are not elgibile for financail aid if the cumulative GPA at Montana Tech drops below the 3.00 for two consecutive enrolled semesters.
Pace of Completion or Maximum Time Frame
Students are expected to earn a degree or certificate in a specific amount of time, measured by credits you have attempted. Transfer credits must be considered in the calculation of maximum time frame credits and the pace you are progressing toward your degree or certificate. Transfer credits accepted upon transcript evaluation from prior institutions will be included with Montana Tech credits in determining the credits you have attempted toward pace of completion and maximum time frame. Credits for which a student enrolls and subsequently withdraws "W", fails "F", takes an incomplete "I" or audits "AU", passed credit "P" and all repeated credits will be counted toward the number of credits attempted. Credit for which a "P" is earned is not counted in earned credits.
REPEATS: A student can repeat a failed course as many times as Montana Tech academic policy allows and receive aid for the class. A previously passed course may be repeated once. Montana Tech does not fund a course for "Audit". An "N" is considered continuing for academic requirements for the following semester. A change of major does not increase the pace of progression or maximum time frame. Aid can be received for remedial credits as long as the student is enrolled in a program leading to a degree or certificate.
Satisfactory Completion Rate
Satisfactory completion means that a minimum grade of D- or P ( satisfactory in a pass/fail class) has been received. Grades of I (incomplete), F (failure), W (withdrawal), and AU (Audit) are not acceptable for satisfactory academic progress. Students who do not pass 67% (rounded down) of all credits attempted to earned in two consecutive (defined as student enrollment, not necessarily one right after the other) semesters will be terminated from financial aid. In addition, students must maintain 67% overall pass rate of attempted credits.
The number of attempted credits allowed is 1.5 times the number of credits required to earn your degree. The point at which you cannot complete your degree under maximum time frame is when you are terminated from receiving aid.
Pace of Progression or Maximum Time Frame in Academic Programs
|Type of Degree||Credit Requirements||Maximum Attempted Credits|
|Undergraduate Bachelor Degree||120||180|
|Undergraduate Bachelor Degree||128||192|
|Undergraduate Bachelor Degree||136||204|
|Second Bachelor Degree||240|
|Associate Degrees*/Certificate Programs||Varies - See University Catalog||1.5 times credit requirement for degree|
|Masters Degree||Varies - See University Catalog||1.5 times credit requirement for degree|
|Pre-Radiologic Technology/Pre-Surgical Technology||36||36|
*Financial aid can be received for a maximum of two Associates Degrees. However, eligibility for Federal Subsidized Loans for the second Associate Degree might be exhausted due to the 150% Direct Subsidized Loan Limit provision.
Financial Aid Termination
Financial aid termination will occur if a student:
- Completely withdraws from Montana Tech during the semester.
- Earns zero credits after any semester. This includes summer, fall, or spring.
- Earns less than 67% of attempted credits in the second consecutive (enrolled, not necessarily following) semesters.
- Earns below the minimum required GPA in the second consecutive (enrolled, not necessarily following) semesters.
- Is academically suspended.
- Exceeds the maximum time frame for your academic program.
- Has met the degree or certficate requirements regardless of applying for graduation. Re-evaluation occurs if a new degree is pursued.
Students who are terminated from financial aid for any reason will remain ineligible until all deficiencies are remedied and satisfactory academic progress is met according to all three criteria or successful appeal. Sitting out of school for a period of time will not reinstate financial aid eligibility at Montana Tech. It is the student's responsibility to notify financial aid when the deficiency has been corrected.
Students whose financial aid is terminated because of maximum time frame can contact the Director of Financial Aid for advice on remedies that might be appropriate for the academic plan. For example, undergraduate undergraduates who exceed the maximum time frame for credits attempted may regain eligibility when they gradaute and seek a graduate degree or a second bachelor degree.
A student placed on financial aid termination because of failure to maintain satisfactory academic progress may appeal. The appeal must document extenuating circumstances beyond the student's control, such as a serious illness or a death in the immediate family, which prevented you from doing well academically. Appeal forms explaining the appeal procedures and necessary documentation are available in Enrollment Services, Mining and Geology Building, Room 207, and online at http://www.mtech.edu/onestop/financial-aid/forms.htm.
If the appeal is approved by the Appeals Committee, the student is placed on financial aid probation or academic plan.
Exceptions or amendments to any of the specific provisions regarding satisfactory academic progress standards may be made at any time, without publication, due to changes in federal, state, and/or institutional regulations or policies.
Withdrawing from Montana Tech
Should you stop attending classes at Montana Tech, you should officially withdraw to get a grade of "W" (withdrawal). If you stop attending classes and receive a grade of "F" (failure) in all classes, you will be considered to have unofficially withdrawn. Students should contact the Enrollment Services Office during the official withdrawal process.
If you withdraw, either officially or unofficially, a withdrawal calculation will be performed to determine the amount of aid that you must repay to the financial aid program(s) based on the Federal, State, and institutional withdrawal policy. The repayment amount will be determined by the date of official or unofficial withdrawal and the type of financial aid received.
If you received funds for which you were not eligible, you will receive a bill from the Business Office for repayment of those funds. If you have any student loans, your loan servicer will be notified of the change in your enrollment status. In keeping the terms of your loan promissory note, notify your loan servicer regarding any change in address or enrollment status.
In most circumstances, financial aid funds cannot be disbursed after withdrawal, except for work-study wages already earned. If you plan to return to Montana Tech in a subsequent term during the award year, be sure to notify the Financial Aid personnel.
Financial aid and account information is accessible electronically on the Web by logging into OrediggerWeb. You will need your user ID and Montana Tech PIN number.
Contact Montana Tech Financial Aid
We have experienced and well-trained staff available on walk-in or appointment basis to assist you. Office hours are from 7:30 a.m. - 5:00 p.m. weekdays. Please don't hesitate to visit our office, phone us, send us e-mail, or fax us with your questions. We're here to help:
1300 West Park Street
Butte, MT 59701
Policies and procedures governing financial aid programs are subject to change at any time without prior notification or publication due to changes in University, State, and/or Federal guidelines and regulations. Montana Tech of The University of Montana is an equal opportunity/affirmative action institution that does not discriminate on the basis of race, color, national origin, sex, age, disability, creed, religion, or veteran status.
READ THIS FORM IN ITS ENTIRETY BEFORE SIGNING YOUR AWARD NOTIFICATION!
NOTICE: Explanation of Award
Grants: The value listed on any grant is for full-time enrollment. Pell Grant will adjust to the number of credits enrolled.
Waivers: The value listed for any waiver represents the amount paid for full-time credits each semester. If eligible, the waiver will pay a reduced amount for fewer credits.
Loans: Any loan will be paid for the amount listed (minus any loan fees when applicable) provided the award matches your intended enrollment status. Enrollment for less than six credits disqualifies you from receiving any type of Federal Subsidized and Unsubsidized Direct Loan.
CONDITIONS FOR RECEIVING FINANCIAL AID AT MONTANA TECH/NORTH AND SOUTH CAMPUS
- By submitting this award notification, I agree, if asked, to provide information that will verify the accuracy of my completed form. This information may include a copy of federal tax transcripts. Also, I certify that I will use federal and/or state student financial aid only to pay the cost of attending Montana Tech. I am not in default on a federal student loan or have made satisfactory arrangements to repay it. I do not owe money back on a federal student grant or have made satisfactory arrangements to repay it. I will notify Montana Tech if I default on a federal student loan and understand that the Secretary of Education has the authority to verify income reported on this application with the Internal Revenue Service. If I purposely give false or misleading information, I may be fined $10,000, sent to prison, or both.
- I understand that I must be making satisfactory progress in a course of study leading to a degree or certificate. I further understand that my financial aid will be canceled if I fail to meet satisfactory progress requirements. The Satisfactory Progress Policy was reviewed earlier on this page and copies are available in the Enrollment Services Office.
- If I withdraw, receive all failing grades, or do not complete a term, I understand (1) I may owe a repayment for financial aid received that term, and (2) my eligibility for further aid will be terminated.
- I acknowledge that under regulations governing financial aid programs, Montana Tech may release information about me to other qualified agencies including, but not limited to, my lending institution, loan servicers, Bureau of Indian Affairs Tribal Education Office, Job Service or Vocactional Rehabilitation Offices. The information released may include my academic progress, grade point average, address, references and any financial information applicable to my eligibility for financial aid.
- I hereby authorize Montana Tech to credit financial aid on my registration bill, for allowed charges.
- I will inform the Enrollment Services Office promptly of any other money I receive for educational purposes. Failure to do so may result in my having to repay federal or state aid and ineligibility for further aid. Assistance that must be reported includes, but is not limited to, scholarships, Vocational Rehabilitation., BIA funding, and Job Training Partnership Funding.
INFORMATION & GUIDELINES
Respond to the on-line Award Notification immediately! This award is contingent upon the availability of funds and subject to change during the award period in accordance with federal regulations, institutional policy, and the accuracy of information provided by you and for valid reasons as determined by Financial Aid. Adjustments in your offer may be necessary if you later receive additional assistance.
All Federal, State and Montana Tech aid will be disbursed in equal installments each semester during registration with the exception of work-study, of which up to half of the award may be earned in the fall and any remaining amount may be earned in the spring semester.
Return to OrediggerWeb and accept the Terms and Conditions of receiving Financial Aid at Montana Tech.