Terms & Conditions of your Financial Aid Award
The financial aid identified on your Award Notice is being offered to you with the following conditions:
- You must maintain Satisfactory Academic Progress (SAP).
- Unless otherwise specified, your award is based on full-time enrollment in a degree-seeking program. Undergraduate students must enroll for at least three units at the 100 level or above each semester. Graduate students must enroll in the proper level courses for their program of study.
- If you drop classes, withdraw, or make other academic changes, your financial aid award may be adjusted and repayment may be required.
- If you fail to earn at least one passing grade per semester, Puget Sound is required by Federal regulations to recalculate financial aid eligibility regarding Federal Student Aid.
- First-time Stafford Loan borrowers must complete an online entrance counseling session and sign a Master Promissory Note (MPN) before loan funds can be disbursed.
- All Federal Perkins Loan borrowers must complete an online loan entrance counseling session and sign a Master Promissory Note (MPN) each year before loan funds can be disbursed.
- If requested, you must provide documentation to verify the accuracy of information reported on the FAFSA before financial aid can be awarded or disbursed.
- All awards are subject to change pending the availability of federal, state, and institutional funding and regulatory verification.
- You will receive financial aid in two installments (one half is disbursed for fall semester; the second half for spring semester), unless otherwise noted. Disbursements are made directly to your student account.
- All funds awarded must first go toward payment of direct educational expenses as reflected on your student account.
- You agree to use financial aid funds only for educational costs.
- You must re-apply for need-based financial aid each year by completing the FAFSA, available in January.
- Work Study is an estimate of the amount you are eligible to earn once you obtain a job. You receive these funds as you earn them just as in any other form of employment – you do not receive them up front.
- You authorize Student Financial Services, at its discretion, to discuss your application and financial situation with public or recognized private agencies that may be considering you for financial aid.
- You must report any financial assistance from an outside source (e.g., a private scholarship) that is not included on your financial aid award.
- You must be aware of the financial aid penalties for drug sale and possession convictions.
- Classes taken for audit are not eligible for financial assistance and do not count toward enrollment for purposes of financial assistance.
- Washington State Need Grant recipients must meet the five conditions of the award before funds are disbursed.