September 4, 2009, Newsletter Issue #135: Loan Stipulations and Academic Requirements
Tip of the Week
Not all loans have strictly financial stipulations associated with them. Many forms of federal financial aid will have academic requirements. For example, the Federal Stafford Loan Program stipulates that the student must be making satisfactory academic progress toward their degree.
Whether you continue to receive all of the federal college financing you are initially awarded is partially determined by your performance in your courses. While it is unlikely that you are attending college with the intention of getting bad grades, contact your financial aid adviser and ask what their criteria for determining satisfactory academic progress is.
If you know what their requirements are and start to notice your grades slipping you can take action early. This precaution could mean the difference between keeping and losing your Stafford Loan.
If you do start to have some problems related to your classes, coordinate with your financial aid and academic advisers to make sure you are on firm ground.
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