Policies and Procedures
In order to receive most types of financial aid, students must be enrolled at least half time in an aid-eligible degree, certificate or certification program. Enrollment status is based upon the following credit load per term:
Undergraduate and Certification Programs
- Full-time 12 or more credits
- Three-quarter time 9 - 11 credits
- Half-time 6 - 8 credits
- Less than half-time 1 - 5 credits
- Full-time 9 or more credits
- Half-time 5 - 8 credits
Consortia Coursework and Financial Aid
In general, financial aid is only available for Silver Lake College of the Holy Family courses. However, on a case-by-case basis, some pre-approved transfer courses may be considered for financial aid eligibility through a consortium agreement. Students must be in good financial standing as well as good academic standing.
To guarantee acceptance and application of the transfer course to the student's Silver Lake of the Holy Family program, the student must complete a Credit Transfer Approval form prior to enrolling at the other school. These forms are available from the student's academic advisor.
Following pre-approval, undergraduate courses must be completed with a grade of "C" or better, and graduate courses must be completed with a course grade of "B" or better, to guarantee acceptance of the transfer course.
Questions about this policy may be directed to the Academic Dean or Office of Financial Aid.
A student's dependency status for financial aid purposes is determined by their answers to particular questions on the FAFSA. If a student answers "Yes" to at least one of these questions they are considered "independent" and must provide information for themselves and their spouse (if applicable).
In general, a student is considered independent if they are 24 years of age or older, a graduate or professional program student, married, have dependents other than a spouse whom they support, are an orphan or ward of the court, and/or are currently on active military duty or a veteran.
If a student answers "No" to all of these questions they are considered "dependent" and must provide information for themselves and their parent(s). Dependent students may be considered independent through the professional judgment of the Office of Financial Aid based on family circumstances.
Questions about dependency status and dependency overrides may be directed to the Office of Financial Aid.
Each year the Federal Department of Education selects a percentage of financial aid applications for review in a process called "verification". If your record is selected, you must provide the Silver Lake College of the Holy Family Office of Financial Aid with certain financial records for review prior to the awarding and/or disbursement of your financial aid.
All materials will be held confidential and retained in a student's financial aid file for the required record retention period.
Federal Student Loan Entrance Counseling
All first-time undergraduate student loan borrowers are required to complete Loan Entrance Counseling prior to receiving their Federal Stafford Loan funds.
Federal Student Loan Exit Counseling
All students who have borrowed education loans while at Silver Lake College of the Holy Family are required to complete Loan Exit Counseling.
To complete Loan Exit Counseling click here. Following all steps to ensure that your electronic confirmation of completion is submitted to Silver Lake College of the Holy Family. If you are unable to complete counseling online, contact the Office of Financial Aid at firstname.lastname@example.org to schedule an individual session.
Financial Aid Release Dates
If your financial aid exceeds your direct charges (tuition, room and board, etc.) for the term a check for the credit balance will be given to you on or after the published aid release date. Consult the Award Letter Guide or contact the Office of Financial Aid for release dates for the current academic year.
Standards of Academic Progress for Financial Aid
By Federal regulation, Silver Lake College of the Holy Family is required to apply both qualitative and quantitative standards in measuring academic progress for all students who are accepted to a degree, certificate, or teaching licensure/certification program.
Click here for the detailed policy for Undergraduate/Traditional/Certification students.
Click here for the detailed policy for Graduate students.
An adjustment to tuition and other charges may occur when students change their credit load or withdraw from the College. A student must submit official written or verbal notification of intent to withdraw to the Advisor or Registrar to initiate the tuition adjustment process. Delay in submitting a Change in Registration Form may reduce or cancel any possible refund of tuition and fees.
Tuition Refund Policy
Amount of refund depends upon when the Registrar is notified of credit changes:
- Within 7 days after start of course*100% refund
- Up to 25% of course completed**75% refund
- Over 25% of course completed**0% refund
*Does not apply to short courses (weekend, one-week, etc.)
**Based on start and end date
Financial Aid Refund Policy
Students who receive financial aid and withdraw from a course or from the College, may have aid returned to the aid source. Students who receive Federal Title IV financial aid listed below, who withdraw completely from the College any time during the first 60% of a term, will have Federal Title IV aid returned based on the percentage of the term not completed. The Federal refund is returned in the order listed below as required by federal regulation. Wisconsin Higher Educational Aids Board (HEAB) requires that after Federal refund requirements are satisfied, State aid programs have priority for any credit balance from an Institutional Tuition Refund. State aid is refunded using the same percentage as used in the Federal calculation. Non-government aid is refunded proportionally based on the percentage of tuition refund from the Tuition Refund Policy.
- Federal Unsubsidized Stafford Loan
- Federal Subsidized Stafford Loan
- Federal Grad PLUS Loan
- Federal Parent Loan for Undergraduate Students (PLUS)
- Federal PELL Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Iraq & Afghanistan Service Grant
For students who withdraw completely but have not received Federal Title IV Financial Aid, or for students who withdraw from some but not all of their courses, the Tuition Refund Policy is used to determine any credit balance. If the student continues to meet eligibility criteria for an aid type, the credit is given to the student. If the student no longer meets eligibility criteria for an aid type, aid is refunded to the aid source. The percentage of aid returned to the aid source is based on the percentage of tuition refund from the Tuition Refund Policy. Refunds are allocated proportionally among sources of initial payment. For students who receive loan funds and become less than half-time, any remaining credit balance is refunded to their lender.
Examples of the application of these policies are available upon request from the Office of Financial Aid (2012-2013 year).