There is now a more level playing field for Allen Community College students hoping to hold onto their financial aid. In other business:
Cynthia Jacobson, vice president for student affairs, was successful during Thursday night’s board of trustees meeting in garnering approval to make changes to the aid policy.
Prior to the changes, transfer students who were noncompliant with the financial aid policy for one or more semesters with their former institutions were merely placed on “warning” for financial aid. Changes would now take into consideration whether transfer students would be placed on suspension.
Jacobson said for students to keep their financial aid money, they must comply with three requirements:
— Over the course of a semester, 75 percent of the courses the student registers for must be completed.
— Students must maintain a GPA of 2.0 or higher.
— Students must be on-track to complete their associates degree in 96 credit hours or less.
If students are not compliant in any of the three stipulations, they are placed on “warning,” then, on the second offense, they are placed on financial aid suspension and will not receive funds for that semester.
She said 33 students would have transferred to ACC on suspension in the past year if the changes would have been made earlier.
“Our default rate is high, we always need to look at ways to bring it down,” Jacobson said.
She said the new regulations are not meant to penalize students, but prevent them from getting in over their head with students loans they are not prepared to pay back.
“It’s not meant to penalize the students,” she said. “It’s meant to safeguard them.”
She said the new policy changes would help prevent financial aid fraud as well — those who would look to take advantage of aid money often are deterred by more stringent requirements.
— Board members approved a three-year contract with Jarred, Gilmore and Phillips for auditing services. The contract totaled $37,500, or $12,500 per year.
— ACC renewed the athletic insurance policy through Bob McCloskey Insurance. The college maintains athletic insurance on a partially self-insured plan, covering initial costs until heavier claims require deeper coverage.
ACC makes financial aid changes
