Financial Aid Policy

Centenary College offers financial aid to help students meet their educational expenses. Centenary’s program is supported by Federal and State funds, as well as by the College’s own resources.

At Centenary most assistance is awarded on the basis of scholarship and talent, but significant amounts are awarded on the basis of financial need. Application for scholarship begins with the admission application. The primary objective of the Office of Financial Aid, is to arrange for a grant, scholarship, loan, or employment, or a combination of these for which a student is eligible. Applicants should also submit the Free Application for Federal Student Aid (FAFSA) to determine the assistance for which the student is eligible. Centenary scholarships and grants are reserved for full-time students only.

Through generous gifts by friends of the College, a number of scholarships have been established and these funds are applied in accordance with the terms of each gift. Four-year academic scholarships are automatically renewed each year if the student has maintained the required grade point average. Other scholarships are awarded for one year but may be renewed if the student reapplies and continues to meet the specific guidelines.

Federal grants, loans and work are the only forms of financial assistance available for use in summer school. Centenary scholarships are not available in the summer.

Satisfactory academic progress is required to maintain eligibility for all aid programs. See the next section for the Satisfactory Academic Progress Guidelines.

Aid based upon financial need may not be awarded in excess of the amount the student needs for education expenses. No Centenary scholarship or grant, or combination of grants which includes one from Centenary, can exceed the comprehensive costs for resident students. Normally, none will exceed tuition and fees. If a student’s need is greater than these limits, the need may be met with a loan or work award.

The person designated by Centenary to provide financial information to students is the Director of Financial Aid. The Financial Aid Office is located in Hamilton Hall, Room 132. Office hours are 8:00 to 4:30 Monday thru Friday. Appointments are suggested but not required. The telephone number is (318) 869-5137 or 1-800-234-4448.

To be considered for financial aid at Centenary College, a student must be accepted for admission to Centenary College and must submit the Free Application For Federal Student Aid (FAFSA) to the Department of Education; this form must be filed to be considered for a combination of federal and institutional aid.

When the student has been accepted for admission and the above steps completed, a student will be considered for all financial aid sources available at Centenary College. Priority will be given to students who have completed these steps and submitted all requested information by March 15 prior to the academic year for which aid is desired. After this date consideration will be on a “first come, first served” basis.

SPECIAL NOTE: All financial aid awards are made for just one year at a time. Returning students must complete the FAFSA each spring prior to the next academic year for which aid is desired. Full-time students may only receive aid for a maximum of eight (8) semesters.

Satisfactory Academic Progress Guidelines

A. Undergraduate-full-time. All full-time undergraduate students receiving financial aid are subject to the following minimum academic requirements. It should be noted, however, that undergraduate full-time students are expected to complete their degree programs in eight semesters.

Semesters Completed 1 2 3 4 5 6 7 8
Minimum No. of Credit Hours Completed 12 24 36 48 60 72 84 96
Current or Cumulative GPA 1.5 2.0 2.0 2.0 2.0 2.0 2.0 2.0

Note: Transfer students (other than freshmen) must achieve a minimum 2.0 grade point average in their first semester at Centenary and thereafter meet the minimum academic requirements.

B. Undergraduate-part-time. Undergraduate part-time students receiving financial aid are expected to complete at least fifteen credit hours per academic year. These students may receive financial aid for twelve semesters.

Semesters Completed 1 2 3 4 5 6 7 8 9 10 11 12
Minimum No. of Credit Hours Completed 6 15 21 30 36 45 51 60 66 75 84 96
Current or Cumulative GPA 1.5 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0

C. Graduate—Master of Arts in Teaching. In order to receive benefits under the Federal Direct Student Loan program, a graduate student must be enrolled in and complete at least six credit hours per semester (fall and spring terms) or three credit hours per summer session (for a total of six credit hours during the summer). These students may receive financial aid for six semesters.

D. Graduate—Master of Business Administration. In order to receive benefits under the Federal Direct Student Loan program, a graduate student must be enrolled in and complete at least one course per session. These students may receive aid for the equivalent
three years.

E. Failure to maintain satisfactory progress. If, as a result of (1) poor grades; (2) course incompletes; and/or (3) withdrawals, a student fails to earn the minimum grade point average or the required number of credit hours, that student will be placed in a “warning” period for one semester. If at the end of that period, the student has not completed the necessary number of hours for the current semester enrolled with the minimum grade point average, then that student will no longer be eligible to receive financial aid. If the student does achieve the necessary hours and grade point average at the end of the “warning” semester, the student will continue to be eligible to receive financial aid.

F. Students who re-enroll at Centenary College after academic suspension will not be eligible for financial aid for that semester.

G. Students receiving academic scholarships must maintain a specific cumulative grade point average (GPA) designated for the scholarship. This GPA is monitored every semester. The first-semester freshman is given two semesters in which to achieve the necessary minimum cumulative GPA. If, after that point, the GPA dips below the minimum cumulative GPA for that particular scholarship, the student will be ineligible for the scholarship.

H. Appeals and reinstatement of financial aid eligibility. Students may have legitimate reasons for not maintaining satisfactory academic progress, not maintaining the necessary cumulative GPA for academic scholarships, or not completing their degrees in the number of semesters required. In these cases, students may petition the Scholarships and Financial Aid Committee to continue to receive financial aid and/or scholarships.

1. The student petition and the decision of the Committee will be in writing and will become a permanent part of the student’s file. The Committee will require a student to complete an action plan developed by the Coordinator of the Student Resource Center as a condition for financial aid reinstatement. Each student’s action plan will lay out specific steps that the student will take to improve his/her academic performance and return to good standing.

2. In cases where no appeal is made or where the student petition is denied, the student will be ineligible for financial aid during the next semester enrolled.