Revised 07/20/2007
A college education is an investment in your future, and each
dollar invested wisely is a step toward achieving your desired
career goals.
The Financial Aid Office works diligently to assist students in
obtaining scholarships, grants and loans from various federal,
state and/or private sources to provide support to the student
and the student’s family in pursuit of those career goals.
The counselors in the Financial Aid Office are here to assist
you in determining the best sources of aid for your particular
situation. If you have any questions, problems, or need
additional information, please contact the Financial Aid Office
from 8:00 am to 5:00 pm, Monday through Friday at the
Parker College main number (800)438-6932 ext. 7020.
2
WHAT IS FINANCIAL AID?
Financial aid is assistance that helps pay the difference between what the student and
his/her family are able to contribute (EFC), and the student’s actual educational expense.
Financial aid at Parker College consists of federal, state and/or private grants, loans,
scholarships, and work programs that are awarded singly or in combination as funds are
available, to all eligible students without regard to race or national origin, religion, sex,
age, disability or marital status.
The goal of this handbook is to inform you of the financial aid policies, procedures and
programs at Parker College; to make you aware of the cost of attending Parker College;
to assist you in applying for aid; to inform you of the criteria used in awarding aid, and to
define some of your rights and responsibilities as an aid recipient. Please make sure you
read over this handbook carefully.
WHO IS ELIGIBLE?
For federal and state “need based” financial aid, students must either be U.S. citizens, on
a permanent resident visa, or an otherwise eligible non-citizen. They must be attending
an accredited college or university, must demonstrate financial need, able to provide
copies of their previous years’ federal tax returns, and other forms as needed to comply
with requirements for the various programs.
Eligible students who are enrolled full time (minimum of 16 hours per trimester for the
DC program) and are making satisfactory academic progress are entitled to apply for all
types of financial aid. Students who are enrolled less than full time are eligible for
financial aid on a limited basis.
When a student enrolls for a graduate level degree, he/she is categorized as a
graduate/professional student, and therefore is eligible for higher loan limits.
HOW DO I APPLY?
NEW STUDENTS
Students should go to the Parker financial aid checklist on the web-site to complete the
financial aid application forms. All documents necessary to determine a student’s
financial aid eligibility can be accessed through this link. When all required documents
are received in the Financial Aid Office, a Financial Aid Counselor will review and
award the amounts and types of financial aid available based on student eligibility and
requests.
MPN (Master Promissory Note) for Federal Stafford Loans-
As a student borrower, you have the right to choose your lender. If you are
entering the Doctor of Chiropractic program and choose Parker as your lender or
if you are entering the undergraduate program and choose Wachovia, then you
can go to www.wachovia.com/education and sign your Master Promissory Note.
3
If you would like to choose a lender besides Parker or Wachovia, you must supply
the financial aid office with a copy of your Master Promissory Note from the
lender of your choice.
Entrance Counseling Session- http://mapping-your-future.org
FAFSA (Free Application for Federal Student Aid) - www.fafsa.ed.gov
PCC Application for Financial Aid www.parkercc.edu . This application must be
downloaded, printed, filled out and mailed in.
CONTINUING STUDENTS
Students in Tri’s 2,4,6,and 8 are required to apply for financial aid by taking the
following steps:
Complete a new Parker Financial Aid Application. You can access this by going
to www.parkercc.edu and printing out the application. Once filled out, the
student must bring the application into the Financial Aid office.
At the beginning of each calendar year, each student must complete a new
FAFSA. This must be done as soon as the previous year’s taxes are complete or
as soon as the student knows they will not be filing taxes.
It is the student’s responsibility to insure that their application reflects their current
information and lists the type of aid they are requesting.
PROPER FOLLOW-UP
It is the student’s responsibility to follow-up on requested forms and documents in a
timely manner and maintain a current status on their financial aid file. Due to the time
involved in processing financial aid awards and loan applications, students should
comply with any deadlines conveyed by the Financial Aid Office. Students are also
advised to keep copies of all their financial aid records, particularly loan documents and
disclosure statements, in a safe and accessible location. Financial Aid applications will
not be processed until a student’s file is complete. A student’s file must be completed
by established deadlines to allow sufficient time for processing of the appropriate
applications and timely disbursement of funds.
Only if you are notified by receiving your federal FAFSA report or by the Parker
Financial Aid Office that you have been selected for verification are the following
items needed:
a. Complete copy of student’s tax return, ALL schedules and any forms filed from the 2006
year (SIGNED), or Non-tax filer form, if no tax return was filed.
b. W-2 statement of earnings from all employers and/or form 1099's.
c. Institutional Verification Worksheet provided by the Financial Aid Office.
d. Copy of parent’s signed tax return, if he/she is classified as a dependent.
e. The Financial Aid Office may also request additional documentation.
4
WHAT TYPES OF AID ARE AVAILABLE?
GRANTS
Undergraduate Grants
FEDERAL PELL GRANT
Up to $4,310 per award year (8months)
Description: This federal program provides eligible students with direct grants
up to $4,310 per award year (or the limit set by federal
regulations.) These grants are available to undergraduate students
with financial need who do not have a bachelor’s degree, and are
officially enrolled in the Bachelor of Science in Anatomy program
How to apply: Fill out the FAFSA and submit it to the College.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT
(SEOG) Amount Varies
Description: The purpose of the Supplemental Educational Opportunity Grant
(SEOG) program is to provide grants to undergraduate students
who have an exceptional financial need, to help pay for their post-
secondary education. Schools are currently required to give
priority to applications with exceptional financial need, as
determined by the financial aid administrator in conjunction with
the federal need analysis.
How to apply: Student must fill out a FAFSA, and be eligible for Pell Grant.
Funds are Limited
Graduate Student Grants
Texas
TEXAS EQUALIZATION GRANT (TEG)
Amount Varies (up to $3,331 for 2007-2008)
Description: A state program available to bona fide Texas residents who
demonstrate financial need
Criteria:
Be a bona fide Texas Resident
After September 2006, student must have CGPA of 2.50 and have completed
18 credit hours with our institution.
5
Independent Students: To be considered a “bona fide Texas resident” the student
must have domiciled in Texas prior to his or her enrollment
with Parker College. A person has been domiciled in
Texas if they have been gainfully employed in Texas 12
months prior to enrollment, and have established a clear
intent to live and work in Texas, or have purchased a home
with intent to domicile.
How to apply: TEG is a need-based program and is awarded by the Financial Aid
Office on the basis of need, and in conjunction with student
participation in the Texas Work Study program (TXWS).
PARKER GRANTS
Amount varies based on availability
How to Apply: Students must show need based on FAFSA and have requested
financial aid. Amount awarded will be based on students EFC.
OTHER STATE GRANTS
Description: A number of states provide funds for their students.
Apply by contacting the following specified offices:
Arkansas:
Arkansas Health Education Grant: Students must contact Arkansas Department
of Higher Education: Judy McAinsh, Coordinator, ARHEG, ph# 800-54-STUDY
or 501-371-2000, fax 501-371-2001, www.adhe.arknet.edu – Address: 114 East
Capital, Little Rock, AR, 72201-3818. Rules and Regulations, application, and
affidavit for Arkansas residency are available on the Arkansas Department of
Higher Education home page at www.arkansashighered.com under “Financial
Aid”. Students who apply for the Arkansas Health Education Grant Program
(ARHEG) must print the application and affidavit, complete the forms and mail
them to the address listed above. Students must maintain a CGPA of 2.0 or
higher to remain eligible.
Alabama:
State of Alabama Grant: Students must contact the Alabama Commission on
Higher Education, Attn: State of Alabama Chiropractic Scholarship Program, PO
Box 30222, Montgomery, AL 36130-2000. 334-242-1998 (Sheryl Newton)
Mississippi:
Mississippi Residents Grant: Students must contact Mississippi Office for State
Student Financial Aid: Mary Jane Covington, ph# 601-432-6791, fax 601-432-
6527 – Address: 3825 Ridgewood Rd., Jackson, MD 39211.
6
New Mexico
American Indian Graduate Grant: Students must contact American Indian
Graduate Center (AIGC) Fellowship Program: Joan Currier, ph# 505-881-4584,
fax 505-884-0427 – Address: 4520 Montgomery Blvd. NE, Ste. 1-B,
Albuquerque, New Mexico, 87109-1291.
Oklahoma
Choctaw Nation of Oklahoma: Students must contact Choctaw Nation: Larry
Wade, Director of Higher Education Program, ph# 580-924-8280, ext. 2224 –
Address: Drawer 1210, Durant, OK 74702-1210.
Citizen Pottawatomie Nation: Students must contact Citizen Pottawatomie
Nation Scholarship Office: Mary Farrell, ph# 405-275-3121, fax 405-275-0198 –
Address: 1601 S. Gordon Cooper Dr., Shawnee, OK 74801.
NATIVE AMERICANS
Students who are at least one-fourth American Indian, Eskimo or Aleut, may contact the
Bureau of Indian Affairs: ph# 202-732-2495, for information about grants or loans that
may be available.
PRIVATE ORGANIZATIONS AND CORPORATIONS
A number of major companies, and other types of businesses, foundations, and associations,
offer special programs for student aid such as matching funds for tuition, and/or grants for
employees, spouses or dependents. Periodically throughout the year, the Financial Aid office
will receive information about scholarships and will notify students of these opportunities.
Unfortunately, the Financial Aid Office can not possibly maintain a complete list of private
organizations that offer student aid. Consequently, students should seek these sources on
their own. For ALL types of funds received, documentation MUST be given to the Financial
Aid Office.
7
LOANS
FEDERAL FAMILY EDUCATIONAL LOAN PROGRAM (FFELP)
FEDERAL STAFFORD LOAN (Subsidized & Unsubsidized)
Official Cohort Default Rate for Parker College of Chiropractic:
FY 2000 2.7%, FY 2001, 1.8%, FY 2002, 1.9%, FY 2003 .8%, FY 2004 1.5%, FY 2005 1.6%
Annual Loan Limits for Stafford Loans per Academic Year
Subsidized Unsubsidized Total
Dependent – Undergraduates
First year $3,500 $0 $3,500
Second year $4,500 $0 $4,500
Third year and beyond $5,500 $0 $5,500
Independent – Undergraduates
First year $3,500 $4,000 $7,500
Second year $4,500 $4,000 $8,500
Third year and beyond $5,500 $5,000 $10,500
Graduate & Professional Students
All years of study $8,500 $12,000 $20,500
HEAL (graduate students only) $12,500
Aggregate Loan Limits for Stafford Loans*
Subsidized Unsubsidized Total
Dependent – Undergraduates $23,000 $0 $23,000
Independent – Undergraduates $23,000 $23,000 $46,000
Graduate & Professional Students $65,500 $73,000 $138,500
HEAL $50,625 $50,625
*Aggregate loan limits are the maximum outstanding total subsidized and unsubsidized
Stafford Loan debt. This includes any amounts borrowed under the Direct Loan and
FFEL programs (including Consolidation Loans), as well as under the discontinued
Federal Supplemental Loans for Students program (SLS).
Description: The interest rate is a fixed rate (effective 07/01/2007, at 6.8 %.)
Interest subsidy paid by the federal government on federally
subsidized Stafford Loans ceases 6 months after the student
graduates, leaves school or drops below full-time enrollment.
8
Repayment starts 6 months after graduation or if the student ceases
to be a student for half-time or more.
FEDERAL PERKINS LOAN
Aggregate maximum - $20,000 Undergraduate
$40,000 Graduate & Professional
Description: A long-term, low-interest loan program available through the
Financial Aid Office. Eligibility for this loan is determined by the
Financial Aid Administrator in conjunction with federal need
analysis information. The maximum amount which may be
awarded is $4,000 annually (aggregate $20,000) for undergraduate
students, and $6,000 annually (aggregate $40,000) for graduate &
professional students. However, very limited funding is available.
Interest rate is fixed at 5%.
Who qualifies: Priority is given to students with exceptional financial need as
defined by the educational institution, using procedures it
establishes for that purpose. All other general federal criteria
apply.
How to apply: Complete a FAFSA and meet with a Financial Aid Counselor to
determine need.
HEALTH EDUCATION ASSISTANCE LOANS (HEAL)
$50,625 maximum
Description: Chiropractic students may borrow up to $12,500 for each academic
year (Two Trimesters), and may not exceed $50,625 for all years.
The Department of Education has not allocated any funds to the
HEAL loan but has continued funds through the Federal Family
Education Loan Program (FFELP). HEAL is additional to the
unsubsidized portion of FFELP. Rights and responsibilities,
repayment options and interest rates are the same as the Federal
Stafford loans.
Who qualifies: U.S. Citizens, nationals, or permanent residents making
satisfactory academic progress, and who demonstrate financial
need.
How to apply: Completion of the Parker College Financial Aid Application and
the Free Application for Federal Student Aid (FAFSA) is
considered application for the HEAL loan. Parker College is a
HEAL eligible school, which enables all students, who are eligible
for FFELP, to receive HEAL.
9
FEDERAL PARENT LOAN FOR UNDERGRADUATE DEPENDENT
STUDENTS (PLUS)
For dependent undergraduate students. Parents may borrow up to the student’s
cost of attendance minus all other financial aid awarded.
Description: A loan is available to parents of dependent students. Annual limits
are defined as cost of education minus estimated financial
assistance plus an origination fee of 3%. The PLUS App. has the
following advantage: when the first 12 scheduled monthly
payments are made on time, an amount equal to the 3% loan
origination fee will be automatically credited to the principal loan
balance. Repayment begins 60 days after the full disbursement;
minimum payment is $50.00 a month (based on loan amount
borrowed); and the repayment period cannot exceed 10 years.
Parent Plus loans are not deferrable.
Who qualifies: Eligibility for PLUS loans are credit based.
How to apply: The parent must complete the application by applying online or
requesting from the lender of their choice a copy of the Master
Promissory Note. Parker College requires that the Free Application
for Federal Student Aid (FAFSA) be completed and contain the
parent’s tax information. A Master Promissory Note will also need
to be signed and returned to lender of choice before funds will be
disbursed to Parker.
FEDERAL GRADUATE STUDENT LOAN (GRAD PLUS)
Plus loans for graduate or professional students
Description: As a result of the HERA (Enactment of the Higher Education
Reconciliation Act of 2005), graduate or professional students are
now eligible to borrow under the PLUS Loan Program up to their
cost of attendance minus other estimated financial assistance in the
FFEL program. The terms and conditions to Parent PLUS Loans
also apply to Graduate/Professional PLUS loans. These
requirements include; a determination that the applicant does not
have an adverse credit history, repayment beginning on the date of
the last disbursement of the loan, and a fixed interest rate of 8.5
percent in the FFEL program. The student is required to apply for
their annual loan maximum eligibility under the Federal
Subsidized and Unsubsidized Stafford Loan Program before
applying for a Graduate/Professional PLUS loan.
Who Qualifies: Eligibility for Grad PLUS loans are for Graduate/Professional
students and are credit based.
10
How to Apply The student can complete the application by applying online or
requesting a paper application from their lender. Students must
complete the Free Application for Federal Student Aid (FAFSA).
A new Master Promissory Note will be required by the lender prior
to funds being disbursed.
INSTITUTIONAL LOANS AND WORK STUDY PROGRAM
PARKER COLLEGE TUITION LOAN
For tuition and fees
Description: This loan program was instituted by the Board of Trustees to assist
enrolled students with temporary financial hardship in paying
tuition (such as when other financial aid has not arrived by
registration date). This short-term loan for tuition and fees has a
strict repayment schedule that is issued when the promissory note
is signed. The interest rate is 8% (annually) and begins to accrue
the first day of the trimester. It is computed as simple interest
calculated on the unpaid balance. The loan must be paid in full
when the anticipated grant, loan or scholarship is received, or
within the same trimester as borrowed.
How to apply: Applications are available at registration.
EMERGENCY FUND
$150 Maximum for Tri 1 Students only
$250 Maximum for two consecutive trimesters for students in Tri II and above
Description: A special loan fund is available to enrolled students to meet short-
term financial emergencies. A student in Trimester I and above is
eligible for only one loan during a two Trimester period, and must
be in good academic standing (2.0 CGPA). The maximum amount
which can be borrowed by a Tri I student is $150.00. The
maximum amount which can be borrowed by a Tri II or higher
student is $250. The emergency loan will be repaid with the
student’s first loan disbursement or from any other financial aid
proceeds he/she would receive.
How to apply: Applications are available in the Financial Aid Office. Submit the
completed application to the Assistant Director of Financial Aid.
The Financial Aid Office and the Business Office will then process
it. Checks are processed once a week on Friday. Applications
must be in the Cashier’s Office by noon on Thursday to receive a
check after 2:00 p.m. on Friday. Submission of an application
does not ensure grant of the loan.
11
FEDERAL COLLEGE WORK STUDY
Hourly rate is established by job description with minimum rates set by Department
Of Labor
Description: A limited number of on-campus or approved off-campus jobs
which are subsidized by the federal government are available. A
student must demonstrate financial need, eligibility for financial
aid, and be enrolled full-time. Checks are disbursed from the
Business Office every two weeks.
ON-CAMPUS JOBS: See the personnel department or ask the college
department heads for available positions.
COMMUNITY JOBS: Students must check with the Student Affairs department
for openings and qualifications at the below locations.
America Reads: America Reads is a literacy program to help students in the
Dallas Independent School District. America Reads is a
community project that will help children succeed in the
real world. It can help the college students gain valuable
skills, and help reduce the debt of college.
Special Olympics: Special Olympics based out of Bachman Center, Dallas,
TX area has events that students can participate in. The
student is encouraged to assist Olympians with sports
events and to be involved with all activities in which the
participants participate in.
Celebrate the Children: Celebrate the Children is a program for special needs
children. This program is to help the children learn to live
the “country” life. The student would have to be available
to commit to some weekend fun on the farm, in which
students assist the kids in enjoying life and learning how to
take care of animals and themselves.
How to apply: Federal Work Study Program must be requested on the
Application for Financial Aid
EDUCATIONAL ASSISTANCE FOR VETERANS
Most veterans (or eligible veterans’ dependents) entering Parker College have used some
type of veterans’ educational assistance in their pre-chiropractic education, and are rather
well-acquainted with the general features of the Veterans Administration Program under
12
which they could receive benefits as chiropractic students. The VA assistance program at
Parker is administered through the Registrar’s Office. The Registrar’s Office will be
happy to advise any veteran (or eligible dependent) about the initiation or continuation of
his/her benefits at Parker College. However, authoritative decisions in these matters must
be procured from the Veterans Administration itself, whose regional office is in Waco,
TX. All information regarding Veterans Benefits MUST be given to the Financial
Aid Office (VA award letters, revised award letters, etc.)
HOW IS FINANCIAL AID AWARDED?
After the necessary forms are received in the Financial Aid Office, and the maximum
amount of aid eligibility has been determined, an “award package” will be prepared that
may include grants, scholarships, Federal Work Study and/or loans. Student preferences
are taken into consideration as to the types and amounts of funds awarded.
The amount of financial need is based on the budget for the 2007/2008 academic year.
Funds are awarded for two (2) Trimesters at a time.
BUDGET FOR TWO TRIMESTERS
FULL TIME STUDENT (16 OR MORE HOURS PER TRIMESTER)
SAMPLE BUDGET FOR TRIMESTER I & II
Tuition and Required Fees $16,445
Books and Supplies $2,349
Room and Board $9,952
Transportation $4,160
Personal $2,354
Loan Fees $0
TOTAL $35,260
(Students enrolled in the DC Program less than full-time are eligible to receive loans only
to cover direct educational expenses which consist of tuition, fees, and books.)
HOW WILL I BE NOTIFIED OF MY AWARD?
Incoming students will be notified by U.S. mail of the total amount approved after the
Financial Aid Office receives the information. Ineligible students are notified
immediately by mail, phone call and/or e-mail. Continuing students will be notified by
tri-mail or email.
13
ALLOWABLE ADJUSTMENTS TO THE BUDGET
Laptop Computers. The budget may be adjusted up by $1500 to allow a student to
purchase a lap top for school.
For UNUSUAL AND UNEXPECTED financial difficulties that would cause a break in
the student’s education, it is possible for Professional Judgments to be made that allow
for increase to the students budget. The student will be required to bring in proof of such
items as medical bills, child care receipts or automotive repair bills.
Deadline for receiving Professional Judgment forms are close of business each
Monday. Each budget adjustment request will be reviewed on a case-by-case
basis by both a Financial Aid Counselor and the Assistant Director of Financial
Aid each Tuesday and students will be notified of the decision by email.
Students without unsubsidized funds available should be prepared to take out an
alternative, credit based loan.
Terms and Conditions of the Financial Aid Award
1. All awards are subject to appropriations of the Federal (Title IV) and State Funds
and Regulations of the Government.
2. Any significant change in a family’s resources, increase or decrease, is to be
reported in writing to the Financial Aid Office! (ex. Marriage, divorce, separation,
etc.)
3. Parker College reserves the right to withdraw or adjust the financial aid award if
any of the following occur:
a. Student receives additional aid,
b. Student is not full time,
c. Student does not maintain satisfactory academic progress,
d. Student does not enroll for any term covered by the financial aid award,
and/or
e. Changes in availability of funds or in regulations.
4. Financial aid is not automatically continued from one academic year to the next.
A new Parker College Financial Aid Application will be required regardless of
whether other documents, including a more current need analysis, are required.
Contact the Financial Aid Office, if you have any questions.
5. The student has the right to refuse any portion of the Financial Aid Award. The
student agrees to abide by the terms of the Award Letter as well as those of the
individual programs.
14
HOW AND WHEN IS PAYMENT OF THE FINANCIAL AID AWARD
RECEIVED?
The Financial Aid Office will verify all funds that are to be disbursed. Funds for an
upcoming trimester received prior to registration will be disbursed during the registration
process. For funds to be released, the student must present their Parker College I.D. card.
Non-EFT (Electronic Fund Transfer) Funds: During Registration, the student will
receive and sign an Authorization Release Form for each type of financial aid that has
been received.
EFT (Electronic Fund Transfer) Funds: By electing to participate in the EFT program,
the student authorizes Parker College to apply their financial aid disbursements to their
student account. A refund check will be issued to the student for any excess balance
(credit balance) at Registration. Current federal funds can only be used for current
charges, unless the student gives permission in writing to pay for previously unpaid
charges.
TUITION REFUND POLICY AND THE ‘RETURN OF TITLE IV FUNDS’ POLICY
If a student withdraws or is dismissed from Parker College, then the college or the student
may be required to return some of the federal funds awarded to the student. The student may
also be eligible for a refund of a portion of the tuition and fees paid to Parker College for the
trimester. If the student received assistance from outside of the family, then a portion of the
refund will be returned to the grant, scholarship or loan source from which the assistance was
received. If a student will be withdrawing, then the student should visit the Registrars Office
and complete the “Student Withdrawal Form” to begin the withdrawal process. This
procedure enables Parker College to refund the maximum possible institutional charges.
Students who withdraw from the College will receive a refund of tuition and fees, according
to the following schedule:
Before the First Day of class 100%
On or before the third day of the first week 75%
On or before the last day of the second week 50%
On or before the last day of the third week 25%
No refunds due after the third week 0%
However, for students who received federal financial assistance in the form of a Pell Grant,
Supplemental Educational Opportunity Grant, Texas Grant, Federal Education Loan or PLUS
loan, and if the student has completed 60% or less of the trimester, the refund shall be based
upon the percentage of the trimester that has been completed. Worksheets to determine the
amount of refund are available in the Financial Aid Office. If the student has completed
more than 60% of the trimester, no refund shall be made.
If any funds remain after the return of Title IV aid, the balance of the refund will be used to
repay Parker funds, state funds, other private sources, and the student in proportion to the
amount received from each non-federal source as long as there was no unpaid balance at the
15
time of withdrawal. If there was an unpaid balance, then all aid sources will be repaid before
any funds are returned to the student.
NOTE: If funds were released to a student because of a credit balance on the student’s
account, then the student may be required to repay some of the federal grants if the student
withdraws.
LOAN ENTRANCE AND EXIT INTERVIEWS
The Department of Education requires that all students receiving Federal Funds participate in
an entrance and exit interview.
One-on-one counseling can be scheduled by the student to review repayment options and
their loan portfolio.
ENTRANCE INTERVIEW SESSION: All students who will be awarded Federal funds
must complete an entrance counseling session. This can be done on-line at http://mapping-
your-future.org . Funds will not be disbursed until this step is completed.
EXIT INTERVIEW FORMS: All students who have been awarded Federal funds must
complete an Exit Interview Form upon leaving school. This includes withdrawal, dismissal
or graduating. Forms can be picked up in the Financial Aid Office or by going to
http://mapping-your-future.org .
LOAN REPAYMENT
Long-term educational loans have varied terms of repayment, deferment, forbearance and
cancellation. The student should carefully study all loan agreements before signing them.
The student is responsible for notifying the Financial Aid Office when he/she ceases to be at
least a half-time student, so that repayment obligations can be fully explained and the exit
interview completed. One-on-one counseling will be offered for those who schedule an
appointment with the Financial Aid Office.
NOTICE OF NON-DISCRIMINATION POLICY
Parker College of Chiropractic is a non-profit, equal opportunity, co-educational institution.
It does not discriminate on the basis of race, creed, color, gender, age, national or ethnic
origin, disability or marital status in the administration of its educational policies, admission
practices, scholarships and loan programs, employment or other institutionally administered
programs.
NOTICE OF PARTICIPATION IN THE DRUG-FREE SCHOOLS AND
COMMUNITIES ACT OF 1990
Parker College of Chiropractic has adopted a Drug-Free School Policy, which is in
compliance with the federal rules governing a drug-free workplace, in accordance with the
Drug-Free Schools and Communities Act.
16
RIGHTS AND RESPONSIBILITIES
As a participant in the financial aid programs, a student has certain right and
responsibilities.
STUDENT RIGHTS
A student has the right to:
1. Question what financial assistance is available, including information on all
federal, state and institutional financial aid programs.
2. Be notified of the deadlines for submitting applications for each of the
financial aid programs.
3. Be advised regarding cost of attendance and policies concerning refunds to
students who withdraw or are dismissed.
4. Know how a student’s financial need is determined, including the calculation
of the established expenses, and an explanation of the federal calculation of
expected student/family resources.
5. Receive an explanation of the various programs, as well as the terms and
conditions of any employment that is a part of the financial aid package.
6. Request an appointment with a financial aid counselor if a student believes
he/she has been treated unfairly. If further review is necessary, an
appointment may be made with the director.
7. Know what portion of the financial aid received must be repaid and what
portion is grant aid. If the aid is a loan, the student has the right to know the
interest rate, how the interest rate is accrued, and the total amount that must be
repaid, the payback procedures, the length of time he/she has to repay the
loan, and when repayment is to begin.
8. Be notified of the standards used by the college to determine whether a
student is making satisfactory academic progress, and what happens if he/she
is not.
STUDENT RESPONSIBILITIES
A student has the responsibility to:
1. Review and consider all information about a school’s program before he/she
enrolls.
2. Accurately complete his/her application for student financial aid, and submit it
on time to the right place. Errors can result in delay or denial of financial aid.
Intentional misreporting of information on application forms for federal
financial aid is a violation of law, and is a criminal offense subject to penalties
under the U.S. Criminal Code.
3. Return all additional documentation, verification, correction, and/or new
information requested by either the Financial Aid Office or the agency to
which he/she submitted his/her application.
17
4. Read and understand all forms that he/she is asked to sign, and keep copies of
them.
5. Accept responsibility for all agreements he/she signs.
6. If he/she has a loan, notify the lender and Financial Aid Office of changes in
name, address, or school status.
7. Perform in a satisfactory manner the work that is agreed upon in accepting a
college work-study award.
8. Know and comply with the DEADLINES for reapplication for aid. This is
imperative!
9. Pay ALL indebtedness to Parker College before issuance of any
transcripts, grades, diplomas, or acceptance for future registration.
SATISFACTORY ACADEMIC PROGRESS GUIDELINES FOR FINANCIAL
AID ELIGIBILITY
(As of January 2007)
A student must continually make satisfactory academic progress toward completion of
his/her course of study to be eligible for and receive federal financial aid.
Due to federal financial aid regulations, the following academic requirements must be
met for a student to be considered making satisfactory academic progress for financial
purposes.
I. A student must continually make satisfactory academic progress toward
completion of his/her course of study to be eligible for and receive federal
financial aid. The maximum time frame for a student to complete 237.5 credit
hours is twelve (12) Trimesters. In this time frame the student must maintain a
qualitative measure of 2.00 cumulative grade point average (CGPA) and achieve
the 75% quantitative course requirements for each Trimester.
II. Qualitative measure: A student must maintain a CGPA of at least 2.00 and must
earn a GPA each trimester of at least 1.50.
a.) CGPA of 2.00 or higher:
If a student’s CGPA falls below 2.00 for a Trimester,
he/she will be placed on Financial Aid Probation I.
If a student’s CGPA falls below 2.00 for a second
Trimester, he/she will be placed on Financial Aid Probation
II.
If a student’s CGPA falls below 2.00 for a third Trimester,
he/she will be placed on Financial Aid Suspension and
he/she will not be eligible for Financial Aid, until he/she
has met the satisfactory academic progress requirements.
b.) Trimester grade point average of at least 1.5 and above.
If a student’s GPA falls below 1.5, he/she will be placed on
Financial Aid Suspension and will not be eligible for
Financial Aid, until he/she has met the satisfactory
academic progress requirements.
III. Quantitative measure: A student must earn credit in 75 %of course requirements.
18
a.) To meet the 75% requirements (quantitative measure) a student must
have an average of 20 cumulative credit hours for each trimester, to
complete in twelve trimesters.*
*Changes as of January 2000
If a student does not earn 75% (20 credit hours) average
cumulative hours in any trimester he/she will be placed on
Financial Aid Probation I.
If a student does not earn a cumulative of 75% or above of
credit hours in a second trimester, he/she will be placed on
Financial Aid Probation II.
If a student does not earn a cumulative of 75% or above of
credit hours for third trimester, he/she will be placed on
Financial Aid Suspension and will not be eligible for
Financial Aid, until he/she achieves satisfactory academic
progress.
IV. Maximum Time Frame:
A student will be suspended from Financial Aid eligibility once he/she has
attended twelve (12) Trimesters.
V. Part Time Students:
Students who are part-time students (less than 16 hours and more than 8 hours)
are eligible only for funds to pay tuition, fees and required books.
VI. All students being put on Probation will be required to meet with a Financial Aid
counselor to insure that the student is cognizant of all aspects of probation. This
meeting is required prior to any funds being awarded.
INCOMPLETE POLICY
It is the official policy of Parker College that financial aid will not be processed or
disbursed for a student with an Incomplete in any course. As noted in the College
catalog, the student must complete all course requirements by the end of the first week of
the next trimester of enrollment, or the “I” grade will be changed automatically to an “F”
and the entire course must be repeated.
The effects of a subsequent grade received upon completion of the coursework can
profoundly impact whether the student is making satisfactory academic progress, which
by federal regulation determines a student’s eligibility for release of funds. Student’s
receiving “Incomplete” grades are not making satisfactory academic progress because of
non-completion of course requirements. Until satisfactory academic progress can be
determined financial aid will not be released.
REINSTATEMENT FOR ELIGIBILITY
To be eligible for financial aid after suspension, a student must successfully complete a
Trimester without financial aid funds and meet the requirements for satisfactory
academic progress (e.g., a CGPA of at least 2.0).
19
APPEAL OF FINANCIAL AID SUSPENSION
If a student fails to maintain satisfactory academic progress and is suspended from
financial aid, he/she may appeal the suspension to the Financial Aid Committee for
reinstatement of their eligibility. The appeal shall be submitted in writing to the Assistant
Director of Financial Aid. The Assistant Director of Financial Aid shall schedule a
meeting of the Financial Aid Committee as soon as possible. The committee shall
include the Vice President of Enrollment Management, Dean of Students, Registrar, Vice
President of Business Affairs, Assistant Director of Financial Aid, two faculty members
and a student representative appointed by the Student Body President. The Vice
President of Enrollment Management shall serve as the Chair of the Committee.
The Financial Aid Committee shall consider the student’s appeal and the student’s
financial aid and academic records to render a decision to award financial aid or deny
financial aid. The Committee Chair shall notify the student in writing of the committee’s
decision. The student can appeal the Financial Aid Committee’s decision by submitting a
written notice of appeal to the Assistant Director of Financial Aid by the deadline stated
on the notification letter. The Financial Aid Appeals Committee may uphold the
student’s appeal, may deny the appeal, or may modify the decision of the Financial Aid
Committee. The student shall be notified in writing within three working days of the
Financial Aid Appeals Committee’s decision.
DISCLAIMER
The Handbook cannot always reflect up-to-the minute changes or developments. Contents of
the handbook are therefore subject to revision without notice.
The agencies providing student aid and Parker College of Chiropractic may change the
eligibility requirements, maximum amounts available and any terms and conditions for any
student aid without notice. All verbal communications that may have an impact on students,
faculty or staff must be verified in writing. The provisions of this handbook do not constitute
a contract, expressed or implied, between any applicant, student or faculty member and
Parker College of Chiropractic.
20