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Financial Aid is money available to assist the student with the costs of attending college. This assistance comes from the federal and state government, the institution, and private sources. Financial aid includes grants, scholarships, work-study programs, and student loans. Grants and scholarships are funds that do not have to be repaid.
Descriptions of available federal, state, institutional and outside sources of assistance, eligibility criteria, application steps, and financial aid policies are available on the McDaniel’s website here.
Satisfactory Academic Progress (SAP)
Educational institutions that participate in federal financial aid programs are required to define and enforce Satisfactory Academic Progress (SAP) standards for those students receiving financial aid. These standards assure that completion of a degree will occur, and within an established time frame.
The standards of Satisfactory Academic Progress measure a student’s academic progress both qualitatively and quantitatively. Therefore, in addition to minimum cumulative grade point average (GPA) requirements, the federally-established standards include requirements that students need to progress in their academic program by successfully completing the majority of courses for which they enroll and place a limitation on the maximum period of time that students can receive federal financial aid while pursuing a degree at an educational institution. In addition, certain types of courses are limited or excluded from eligibility. The federal standards apply to all federal, state, and institutional need-based financial aid programs administered by Financial Aid Office. These standards of Satisfactory Academic Progress are required to maintain eligibility for financial aid.
Students must:
- Maintain the required cumulative GPA
- Maintain a successful course completion rate (pace) of at least 67%
- Complete an academic program within the maximum timeframe (MTF)
Qualitative Measure graduate students: 3.0 GPA. The entire graduate SAP policy can be found here.
For additional information, please contact Financial Aid Office at 410-857-2233, or finaid@mcdaniel.edu.
Importance of Class Attendance and Engagement
Did you know your Financial Aid may be adjusted or canceled if you don’t attend or engage in class?
Financial aid is initially based on your enrollment status. Once the semester begins, faculty report students who never attended/engaged by the census date. At that point, your financial aid may be adjusted/canceled, and you may be required to repay financial aid (including loans) to the college. To ensure progression toward your degree and maintain eligibility for financial aid, you should attend/engage in all of your classes and make every effort to be academically successful. Lack of attendance can cause you to owe back or lose financial aid!
Did you know there is a difference between receiving a grade of F for failing a class versus receiving a grade of XF for failing a class with an attendance issue? To be in compliance with federal regulations, McDaniel uses a failing grade of XF to identify students who failed a class and also never attended or stopped attending the class. If you fail class(es) and also stop attending class(es), you may be required to pay back financial aid and/or lose future eligibility for financial aid, including federal student loans.
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