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Most NEO students are eligible for financial aid, but there are requirements for each type of aid. Follow the links below for more information:

FAFSA Requirements

Eligibility for federal student aid is based on financial need and on several other factors.
To receive federal financial aid, you must:

  • Demonstrate financial need (except for certain loans).
  • Have a high school diploma or a General Education Development (GED) certificate, or
  • Complete a high school education in a home school setting that is treated as such under state law,
  • Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program.
  • Be a U.S. citizen or eligible noncitizen.
  • Have a valid Social Security Number.
  • Register with the Selective Service if required.
  • Maintain satisfactory academic progress once in school.
  • Certify that you are not in default on a federal student loan and do not owe money on a federal student grant.
  • Certify that you will use federal student aid only for educational purposes.

Enrollment Requirements

Financial aid is initially awarded based on the assumption that students will be enrolled full-time. If you are enrolled less than full time, your aid package will be adjusted to reflect your current enrollment status. All of your aid will likely be effected. Enrollment status is checked each semester prior to disbursement of funds. Students must be enrolled at least half-time to receive Stafford loans. Pell grants are available for any enrollment status, but students with a higher EFC that are eligible for funds at half-time may not be eligible if enrolled less than half-time.

SemesterFull-Time3/4 Time1/2 TimeLess than 1/2 time
Fall & Spring12 or more9-11 Hours6-8 Hours5 or Less
Summer6 or more4-5 Hours3 Hours2 or Less

Expected Family Contribution (EFC)

The EFC is the number schools use to determine your eligibility to receive need-based federal, state and institutional aid. The EFC is determined by your answers to questions on your FAFSA. Several factors are used by the federal government to determine your EFC. Those factors include, but are not limited to:

  • Adjusted Gross Income
  • Taxes Paid
  • Untaxed Income Amounts
  • Number in the household
  • Number attending college
  • Family Assets

As your EFC number increases, the amount of need-based aid you are eligible for decreases.

Verification

The federal government requires schools participating in federal aid programs to verify the consistency and accuracy of data submitted on the FAFSA’s they receive. Schools must verify at least 30% of the applications they receive. The U. S. Department of Education randomly chooses the applications to be verified, but schools can also choose applications based on their own criteria. If your FAFSA is chosen for verification you will be asked to submit a copy of an IRS Tax Return Transcript. You will also be asked to complete a Verification Worksheet which contains information the school must verify that is not included on your tax forms. You may also be asked to submit other documents if there are inconsistencies between the documents you submit and your FAFSA application. If NEO finds that mistakes were made on your FAFSA application, we will submit a correction to the federal processor. The correction may change your Expected Family Contribution (EFC) and consequently change your eligibility for some types of aid. Verification is not optional. When you sign your FAFSA you agree to submit any documents that your school may require to verify the accuracy of your application. No financial aid can be paid to you until the verification process is complete so it is important to turn in any requested documents promptly.

Definition of Need

Under federal methodology need is defined as the difference between a student’s Cost of Attendance (COA) and their Expected Family Contribution (EFC).
COA – EFC = NEED
NEO is required to use this amount to award all need-based aid, such as Pell Grants, Subsidized Stafford Loans, SEOG, Federal Work Study, and scholarships. All of your need-based aid cannot exceed the amount of your need. In addition, students cannot exceed their COA. When you receive additional aid after you have been initially awarded, we may have to reduce some of your other aid in order to not exceed your need or COA. Usually we only adjust your loans. In rare instances, we may have to adjust some of your other aid. Whenever we make an adjustment you will be notified.

Dependency Status

The FAFSA application has 13 dependency questions. If you are unable to answer “yes” to any of those questions, you are considered a “dependent” student and must include your parent’s information on your FAFSA. Under Federal law, to the extent your family is able, they are primarily responsible for paying for your college expenses. To determine how much your family can afford towards your college expenses, the FAFSA collects financial information about you and your parents’ financial situation.

However, Federal law allows for some exceptions if you have a special circumstance (less than 1% of FAFSA applicants meet the definition of having a special circumstance). The following are examples of some special circumstances where you may submit your FAFSA without providing parental information:

  • Your parents are incarcerated; or
  • You have left home due to an abusive family environment; or
  • You do not know where your parents are and are unable to contact them (and you have not been adopted).

But not all situations are considered a special circumstance. The following are situations that alone or in combination would not be considered a special circumstance.

  • Your parents do not want to provide their information on your FAFSA; or
  • Your parents refuse to contribute to your college expenses; or
  • Your parents do not claim you as a dependent on their income taxes; or
  • You do not live with your parents

If you believe that you have a special circumstance that may qualify for a dependency override, click on the Forms link above and download the Independent Appeal Application. Turn in the application along with all required supporting documentation to the Office of Financial Aid. Your application will be reviewed and you will be notified by mail about the status of your appeal. Please allow 2 – 3 weeks for the appeal to be processed.

Satisfactory Academic Progress

Federal regulations (CFR 668.34) require that a student maintain satisfactory academic progress in the course of study being pursued, according to the standards and practices of the institution in which they are enrolled in order to receive aid under the Higher Education Act. These programs at NEO A & M include the Federal Pell Grant, Federal Supplemental Education Opportunity Grant, Federal Work Study, Direct Stafford Loans, (subsidized and unsubsidized) Federal PLUS Loan, and Oklahoma Tuition Aid Grant.

I. Pace and Grade Point Average (GPA)

  1. Both the pace and GPA standards for satisfactory academic progress (SAP) shall be applied uniformly to all students whether or not the student has previously received Title IV aid.
  2. Pace is determined by dividing the student’s total number of completed hours by the total number of attempted hours.
  3. In order to satisfy pace and GPA requirements, all students must satisfy the minimum standards as described below.
    PaceGPA
    67%2.0
  4. For financial aid purposes grades of F, W, AW, WF, I and U shall be considered hours attempted, but not completed successfully.
  5. Cumulative grade point average (calculated by the College Registrar), and hours attempted (calculated by the Office of Financial Aid), shall be used in determining a student’s eligibility to receive Title IV financial aid.
  6. Audited courses are not applicable when computing attempted or completed hours.
  7. Remedial courses (those with a “0” level) are not counted toward degree requirements, but are eligible for financial aid funding as a pre-requisite course.
  8. A student can only receive financial aid for repeated courses (those with an F, W, AW, and U) twice.
  9. Students can be paid for repeat courses that fail to meet the minimum requirements for their degree one time.

II. Transfer and Continuing Students

  1. All transfer students entering NEO A & M and all continuing students who apply for financial aid for the first time must meet the minimum pace and GPA requirements above in order to receive Title IV financial aid.
  2. All attempted hours at all previous schools will be counted toward a student’s satisfactory academic progress requirements.

III. Evaluation Increment Period

  1. All students receiving Title IV financial aid will be evaluated at the end of the Spring semester each academic year.
  2. Students who completely withdraw from any semester will be evaluated at the end of the semester withdrawn from.

IV. Financial Aid Suspension

  1. In the event that a student fails to meet minimum acceptable standards as described above, they will be placed on Financial Aid Suspension status until such time as they are again making satisfactory academic progress, or they appeal their suspension and the appeal is approved.

V. Appeal of Financial Aid Suspension

  1. Students who have been placed on financial aid suspension may appeal the decision if there are extenuating circumstances. Extenuating circumstances include, but are not limited to illness, death in the family, and hospitalization.
  2. The appeal must be submitted in written form within ten (10) days of notification. Appeal forms are available in the Office of Financial Aid and on the Forms page of the NEO Financial Aid webpage. The student’s appeal will be forwarded to the Financial Aid Suspension Appeals Committee. This committee consists of the Vice President for Student Affairs, the College Registrar, and the Vice President of Fiscal Affairs. Students must provide supporting documentation with their appeal and may be asked for more information by the committee.
  3. The student will be notified, in writing, of the Appeal Committee’s decision. The decision of the committee is final.
  4. If the student’s appeal is approved, they will either be placed on Financial Aid Probation or on an Academic Plan, depending on the circumstances surrounding their appeal.
  5. A student may appeal their suspension two (2) times.

VI. Financial Aid Probation

  1. Students on Financial Aid Probation can receive financial aid for one (1) semester. If the student is still not making SAP at the end of the probationary semester they will be placed on Financial Aid Suspension again.

VII. Academic Plan

  1. An Academic Plan is an option for some students instead of Financial Aid Probation. An Academic Plan is a plan of study which will include a minimum number of hours and term GPA that a student must complete over the course of more than one semester. If the student follows and successfully completes the Academic Plan, they will be making SAP at the end of the plan timeframe. Each student’s Academic Plan will be unique and may include specific courses, or other requirements, depending on the student’s situation.

VIII. Maximum Time Frame

  1. All students enrolled in a degree or certificate program are eligible for Title IV financial aid for 150% of the published hours for their program. The chart below is an example: a student’s exact maximum attempted hours will be determined by their degree requirements.
    One Year CertificateTwo Year DegreeNursing
    53 Attempted Hours90 Attempted Hours108 Attempted Hours

     

  2. If a student exceeds the maximum time frame for their degree, they will be placed on Financial Aid Suspension. Students can appeal their suspension for maximum time frame, provided they have not already exhausted all of their appeals. If the appeal is granted they will be placed on an Academic Plan and the requirements must be followed as outlined above. Students on an Academic Plan due to exceeding their maximum time frame many only change their major three (3) times.
  3. Students pursuing a second degree will be required to complete a Request for Second Degree Form and will be placed on an Academic Plan before receiving any financial aid. Previous attempted and completed hours taken that apply to the student’s new degree will be counted toward eligibility for financial aid for subsequent degrees, so the number of semesters that a student is eligible for aid will be limited.

IX. Re-establishing Eligibility

  1. A student may re-establish eligibility for Title IV financial aid again by successfully meeting the minimum standards for satisfactory academic progress.
 
 
 
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