Terms and Conditions for Financial Aid

By accepting my financial aid, I understand and am agreeing to the following Terms and Conditions:

• I understand that a current year FAFSA/ORSAA is needed in order to receive any Raider Financial Aid (Institutional Aid)*
• I agree to fill out my FAFSA/ORSAA accurately and honestly. Errors can result in delays and changes to your Financial Aid offer. False or misleading information is a criminal offense and is subject to fine, imprisonment or both.
• I understand that Financial Aid is awarded and disbursed to you provisionally.
• I agree to notify the Financial Aid Office of any changes to the information used to determine my financial aid award.
• I agree to use the Financial Aid self-service functionality and accept/decline my aid electronically. I understand I may contact the Financial Aid Office regarding alternative methods of communication; and that I can rescind my permission at any time by contacting the Financial Aid Office.
• I understand that the Financial Aid Office uses SOU email as the main point of contact and it is my responsibility to monitor my SOU email for communication from the Financial Aid Office.·
• I understand I may receive aid from only one school each term and accepting Southern Oregon University financial aid means I am not receiving aid for attendance at any other school for that same time period.
• I agree that I must report any additional financial assistance missing on my award notice, such as scholarships, vocational rehabilitation funds, and employer tuition assistance. I understand that my aid may be adjusted if additional aid exceeds my demonstrated financial need or my cost of attendance.
• I understand that I am responsible for canceling my registration if I choose not to attend Southern Oregon University. I will be responsible for any charges made to my account if I fail to cancel my registration.
• I understand that if I completely withdraw from the term, I may be required to repay all, or a portion, of the aid disbursed to my account.
• I understand that I must only be enrolled in classes required to complete degree requirements or specified program of study. You should refer to your degree requirements to determine that the coursework you are enrolled in is required. Federal law requires that you be degree-seeking and making Satisfactory Academic Progress (SAP) to receive Title IV Federal Financial Aid.
• I understand that it is my responsibility to check my SAP status each term and review the published deadlines concerning SAP appeals. I also understand that late SAP appeals will not be accepted.
• Oregon Opportunity State Grants are updated throughout the aid year. State funds are subject to change as enrollment information is reported to OSAC. Please refer to oregonstudentaid.gov for more information.
• I understand that if I am awarded a Merit-based Scholarship that it is renewable if I maintain an SOU GPA as follows: Raider Scholar – 3.5, Laurels – 3.25, Churchill – 3.0, Provost – 3.0, Jefferson – 3.0 and Siskiyou – 2.5. If I am awarded a Churchill, Laurels, or Raider Scholarship for Fall 2020 or after, that GPA requirement is a 2.5.
• I understand that any renewable scholarships I receive have a maximum of 4 years or up to 12 terms excluding summer term.
• I understand that to remain eligible for a Merit-based scholarship I must maintain full time enrollment each term.
• I understand that if I receive Raider Aid such as the Affordability Grant ) FRAFFO, FRSOU or any other Institutional funding I need to maintain full-time enrollment of 12 credits or more.
• I understand that Federal Work-Study, The FSEOG Grant, and institutional grants ( Raider Aid)  are awarded first come first serve basis and that I must accept the award to receive these funds.
• I understand that recalculations to my financial aid may cause a balance due on my InsideSOU account and that I am responsible for reviewing my InsideSOU account to see if I owe a repayment of a Pell Grant or other Financial Aid
• I understand that any excess funding  will be processed within 14 days by the Business Office after financial aid has actually been applied to my charges.
• I understand that if I withdraw or stop attending, my financial aid may be adjusted because the school is required to complete a Federal Return to Title IV Refund calculation to determine how much financial aid was earned. If Southern Oregon University is required to return any funds to the US Department of Education, I will be required to repay those funds to Southern Oregon University.
• I understand that I  will receive financial aid in three installments (one third is disbursed for fall quarter; one third for winter quarter; the last third for spring quarter), unless otherwise noted. Disbursements are made directly to my student account.

I understand that it is my responsibility to review my SOU Debt Letter and stay up to date on my PELL and loan limits so I am borrowing responsibly.

• If I borrow Direct Student Loans, I will be required to complete exit counseling and a hold will be placed on my student account until this requirement is completed.

I understand that my Cost of Attendance (a financial aid budget) will be:

• used to determine the amounts and types of financial aid I am eligible to receive and, thus, my financial aid may be reduced when my Cost of Attendance is adjusted;
• based initially on the assumption of full-time enrollment in financial aid eligible credits;
• adjusted based on my enrollment on the Financial Aid Census date and in each of the situations described below for Pell Grant recalculations.

I understand that my Pell Grant will be recalculated:

• Based on the number of financial aid eligible credits for which I am enrolled as of the Financial Aid Census Date.
• If I withdraw or receive a non-passing grade and my professor is unable to document my attendance and participation in academic-related activities.
• When I drop a class before the census date my Pell Grant will be recalculated to reflect my enrollment.

I understand that if I purposely give false or misleading information on any financial aid form, I will subject to the college’s disciplinary process. Additionally, I may be subject to criminal prosecution under which I may be fined up to $20,000, maybe sent to prison or both.