Financial Management

Financial Management

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Student Financial Management

Student Financial Servies Office

Investing in a quality private university education is a worthwhile but an expensive undertaking. To meet university costs, most students will need to look beyond their own financial resources for assistance. The Student Financial Services Office fulfills this need by providing assistance to students pursuing a degree at Rivier University.

Financial Aid Guidelines and Application Process

The primary responsibility for financing a college education lies with the student and the family (if the student is deemed dependent). All students must annually file the Free Application for Federal Student Aid (FAFSA) to receive consideration for financial aid. The purpose of the FAFSA is to determine the financial need of a student and to confirm eligibility to participate in student aid programs. The information provided in the FAFSA is calculated using a uniform federal needs-analysis formula developed by Congress. The results are released to Rivier University and used by the Student Financial Services Office to create the award. A financial aid award will vary according to a student’s need and the availability of funds. Financial aid is awarded for one academic year at a time; students must reapply annually to receive consideration in subsequent years.

The FAFSA can be completed and submitted electronically via the Internet at www.fafsa.gov.

First-time financial aid filers are urged to complete the FAFSA as soon as possible. The priority filing deadline for university funding is March 1. On-time financial aid applicants are given full consideration for assistance. Availability of funds cannot be guaranteed for late applicants; therefore, late applicants will be considered on a funds-available basis. The FAFSA can be filed at the same time that a student applies for admission. However, financial aid is not offered until the student has been accepted into a degree or eligible certificate program.

A financial aid award consists of gift aid and/or self-help assistance. Scholarships and grants are considered gift aid. Student loans and campus employment are forms of self-help aid. In order to assist as many students as possible with Rivier’s limited university grant and scholarship resources, the Student Financial Services Office must provide maximum self-help funding as the foundation of each financial aid award. You can contact the Student Financial Services Office at 603-897-8510 or at sfs@rivier.edu.

Eligibility

Financial aid recipients must be:

• Eligible to participate in financial aid programs
• Matriculated into a degree program
• Enrolled at least half-time
• Making satisfactory academic progress

Federal regulations specify that federal financial aid recipients must be U.S. citizens, or eligible non-citizens (U.S. permanent residents who have an alien registration card).

Financial Need

A student’s financial need is the cost of attendance minus the expected family contribution (EFC). Students may not receive financial aid in excess of their cost of attendance. The Student Financial Services Office usually is unable to meet a student’s full financial need due to limited resources. However, the staff will assist the student in finding alternative financing programs.

Satisfactory Academic Progress

All undergraduate students are evaluated for satisfactory academic progress (SAP) at the end of each payment period (semester).

1. Credit Hour Programs

   Satisfactory academic progress is measured qualitatively, by review of the Cumulative Grade Point Average (CGPA); quantitatively, by review of the rate of progress - the percentage of credits earned vs. attempted; and overall against a maximum timeframe of 150% of the program length, measured in attempted credits. Full-time undergraduate students must complete their program within six years (see table below for minimum completion requirements). The academic credit for semesters is earned with a passing grade (D or better). Satisfactory progress is defined as a minimum of a 2.00 CGPA and a rate of progress of at least 67%.

   CREDITS SUCCESSFULLY COMPLETED
   YEAR	MINIMUM NUMBER
   1	18
   2	39
   3	60
   4	81
   5	96
   6	120

          
   Part-time undergraduates must complete their program in a proportional amount of time.
   
   To successfully complete a program the student must achieve 100% of the program credits within 150% of the program length, as defined by attempted credits.

2. Satisfactory Academic Progress Status Review
   
   At the SAP checkpoint, a student who is not meeting the SAP requirements for the first time will be placed on a “Financial Aid Warning” and should meet with their Student Financial Services Advisor. Students on “Financial Aid Warning” who do not meet SAP requirements for the subsequent semester will lose financial aid eligibility. To regain aid eligibility after this point, the student must appeal in accordance with the policy described below. Students whose appeals are granted will be placed on “Financial Aid Probation” for the next semester. If students do not meet SAP after the “Financial Aid Probation” period, all federal eligibility will be lost.

3.  Appeal Process
   
   A student who loses aid eligibility due to failure to maintain satisfactory academic progress may appeal this status. To do so, the student must submit a “Financial Aid Satisfactory Academic Progress (SAP) Appeal” form and a “Satisfactory Academic Progress Plan Student Contract” within fourteen (14) calendar days of receiving the notice of financial aid termination. This appeal should be addressed to the Director of Financial Aid in Adrienne Hall. The appeal must be accompanied by documentation of the situation, events or circumstances that prevented the student from attaining satisfactory academic progress or otherwise explains the student’s deficient performance. Generally, only extraordinary circumstances are considered, such as the severe illness of the student or an immediate family member. The student will be sent the Director’s written decision within ten (10) days of the school’s receipt of the appeal. The decision of the Director or her designee will be final. 
   
   If the appeal is granted, a student previously receiving financial aid will regain financial aid eligibility on an Academic Plan status. The student must regain SAP status by the time projected in the Academic Plan, but no later than the maximum timeframe of the program. 
   
   The student’s appeal must address the following: 
   a. The basis for the appeal - a description of the special circumstance AND 
   b. The reason why the student failed to meet the SAP standard(s) AND
   c. What has changed in the student’s situation so that he or she will now be able to meet with SAP standards. 
   
   Appeals will be granted on a case by case basis.

4. Academic Plans
   
   A student whose appeal is granted will be required to meet the terms of the Academic Plan as outlined in the notice granting the appeal. Generally, the Academic Plan will require students to meet or exceed the attendance requirements, pass all courses with a “C” or better and may include additional required elements, such as tutoring. At the end of each semester, the student’s progress will be reviewed based on the Academic Plan. A student who fails to maintain the terms of the academic plan will be terminated from financial aid eligibility.

5. Miscellaneous
   
   Grades of I (Incomplete), F (Failing), NF (Adminstrative Failure), and W (Withdrawn) are not considered to be completed credits, but do count as attempted credits. I (Incomplete) grades are temporary and if not satisfactorily resolved by the deadline set between the Registrar’s Office and the professor become F (Failing) grades. Transfer credits are included as both credits earned and credits attempted. P (Passing) grades and W (Withdrawn) count as credits earned and attempted, but have no value for CGPA. Course repetitions count as attempted credits, but students can earn credit only once. When a course is repeated, the later grade will replace the first grade in calculating the CGPA.

Withdrawal

Students who are enrolled at Rivier University and withdraw before completion of 60 percent of the current term receive only a portion of their federal assistance to meet their college costs. Students who withdraw from the University must give notice, in writing, to the University Registrar, and the Financial Aid Office.

Summer Aid

Students wishing to receive financial aid for the summer sessions should contact the Student Financial Services Office in April for instructions and eligibility conditions.

Tuition, Fees, Refunds and Payment

Tuition and fees for the current academic year are published annually and are refundable according to the stated withdrawal policy. There is a tuition differential between full-time undergraduate, part-time day and part-time evening study.

Full-time DAY students carrying 12-18 credits are charged the same full-time rate regardless of the program of study. An overload charge of $1,015/credit will be assessed for every credit over 18 credits in a semester. Professional Studies students enrolled in a combination of day and evening courses for 12 or more credits will be charged the full-time day rate. Students can view their semester charges/ credits, and make payments, on their MY LEDGER in MyRiv. Parents/ Guardians can make payments at www.rivier.edu.

Required Deposits

A tuition deposit due by May 1 is required of first time students: $300 for commuters and $400 for resident students.

A housing deposit due by March 1 for returning resident students: $250.00.

Students accepted by April 1 should forward deposit(s) by May 1. Students accepted after April 1 should forward deposit(s) within three weeks of their acceptance. The tuition and room deposits are refundable until May 1.

Tuition and Fees Academic Year 2018-2019
 

Note: The University reserves the right to change any of the above charges when, in the judgment of the administration, it becomes necessary to do so.

Course Add/Drop Refund and Withdrawal Policy

If after registering for courses students are unable to, or choose not to attend Rivier University, they must officially withdraw from their course(s). Students need to contact the Registrar’s Office to officially drop/ withdraw from their course(s) by the refund/ withdraw date and are encouraged to meet with their academic advisor, success coach and/ or financial aid counselor to discuss the consequence before doing so. Students are responsible for the entire charge up to the date they officially withdraw from the course. Official drop dates can be found on the Student Financial Services Refund & Withdrawal Policy page at  www.rivier.edu/student-financial-services. Withdrawals after the Drop period (last day for 100% refund) will result in the student being liable for all or part of their charges.

Room/Board Refund Policy

Room refunds are calculated based on the date the resident withdrawal form is completed with the Residence Life Office. There is no refund on meal plans after the add/drop period has ended.

Payment Policy

It is the student’s responsibility to verify the amount of their semester charges on MY LEDGER in their MyRiv account upon being registered for courses and to be aware of the payment due dates and course Add/Drop Refund and Withdrawal dates. Students are able to print their statement on their MY LEDGER. Late fees will be assessed after the payment due date and a finance charge of 1.5% per month will be assessed on the unpaid balance.

Payment Due Date

The payment due dates (or acceptable payment plan in place) are:

• All Students except for those enrolled in term 2 only classes: July 15th for fall semester and December 15th for spring semester.
• Term 2 only students: One month prior to the start of the course.

If a student registers after the payment due date, payment is due on the date of registration. If the student is partially registered or is planning a registration change, payment for the existing registration must still be made by the posted deadlines.

An acceptable payment plan may include financial aid, third party and deferred payment plans. Students must complete all requirements and submit required paperwork and electronic signatures by the payment due date to the Student Financial Services Office for their financial aid to be shown as an estimated credit on their bill.

Payment Options

Students can view their charges/ credits, print a statement and make online payments on their MY LEDGER in MyRiv; Parents/ Guardians can make payments at rivierpro.afford.edu.

Payment options include direct payments, financial aid and deferred payment plans. All payment information can be found at www.rivier.edu/student-financial-services. Payment types include cash, check, echeck and credit card. Credit/ debit card payments will be charged a convenience fee by our credit card processor at the time of payment; students can avoid paying this fee by paying online via e-check instead. Checks can be mailed to Attn: Business Office, Rivier University, 420 South Main St., Nashua, NH 03060.

Housing: Room and Board Policy

Room and Board must be paid along with tuition and fees by the posted payment deadlines in order for students to be eligible to check-in to the University’s dormitories. Board may not be waived for any student. If the student chooses to withdraw from housing, they must contact the Office of Residence Life and fill out the necessary forms for the withdrawal to be valid. Room refunds will be calculated according to the date the withdrawal form is received by the Residence Life Department, not by the last date of residency. If a student withdraws from housing or is terminated, the meal plan is turned off.

Returned/Insufficient Funds Check Policy (Protested Check)

Whenever any check, draft, or e-check issued in payment of any fee or for any purpose is returned to Rivier University, a $30 fee for the insufficient payment will be posted to the student account.

Non-Payment Policy

Students whose accounts are not paid in full by the payment due date will be placed on hold and will not be eligible to register for future courses or receive official transcripts or diplomas. Students owing for the current or previous semesters may be subject to any or all of the following actions:

• Deregistration from courses (roster spots in the original registration cannot be guaranteed upon reregistration)
• Late payment penalty ($150 for day students; $50 for all other populations)
• Deactivation of campus identification card which suspends access to campus facilities and library, city bus services, etc.
• Residence hall dismissal
• Suspension of meal plan
• Suspension of participation with athletic teams
• Unpaid account balance sent to collection agency

Outstanding account balances may be sent to an outside collection agency. Should this occur, credit bureaus will be notified and the student will be responsible for the outstanding balance plus all collection fees and legal fees. At this point the student will no longer be able to make payment directly to Rivier University; they will be required to interact directly with the collection agency. All grades, transcripts, and diplomas will be withheld until the student has satisfied their student account balance in-full and all funds have cleared.

Auditing/Fees

Due to the nature of certain laboratory courses and other skill courses, some courses cannot be taken on an audit basis. Lecture courses may be audited. The audit fee is the same as the credit charge except for Rivier University alumni and senior citizens.

Rivier University Alumni

Alumni holding a bachelor’s and/or master’s degree from Rivier University are granted the privilege of auditing undergraduate courses at no tuition cost on a space-available basis.

Senior Citizens

Persons 60 years of age or older may audit classes on a space-available basis, paying fees only; there is no tuition charge. Senior citizens wishing to take courses for credit pay half the tuition charge plus fees. For persons 55 years or older, the University sponsors the Rivier Institute for Senior Education (RISE) in partnership with the Elderhostel Institute Network. Classes offer instruction on a variety of topics, meet during the day in five- or ten-week sessions, and offer no traditional college tests or credits.