Maintaining Your Financial Aid Eligibility

To continue receiving financial aid, you must meet certain eligibility requirements. These requirements can vary slightly depending on the type of aid you receive. Below is a simple breakdown to help you stay on track.

Grants

Grants are typically based on financial need.

To keep your grant funding, you must:

  • Maintain Satisfactory Academic Progress (SAP)
    This means keeping a minimum GPA, successfully completing enough of your classes, and finishing your program within a set timeframe.
  • Stay enrolled in an eligible program and only enroll in required courses
    Only classes required for your program count toward your aid.
  • Report any changes
    Changes in income, household size, or enrollment status may affect your eligibility.

Scholarships


Scholarships may come from the college or outside organizations and often have specific requirements.

To keep your scholarship, you may need to:

  • Maintain required GPA (often higher than the minimum for grants)
  • Stay enrolled full-time or part-time, depending on the scholarship award
  • Meet any special conditions (such as major, participation in activities/sports, or community service)
  • Renew your scholarship if required (most scholarships require a renewal application each year)
  • Complete your FAFSA and financial aid file


Student Loans (Money You Must Repay)


Loans must be repaid, so it’s important to borrow responsibly.

To remain eligible for student loans, you must:

  • Maintain Satisfactory Academic Progress (SAP)
    This means keeping a minimum GPA, successfully completing enough of your classes, and finishing your program within a set timeframe.
  • Be enrolled at least half-time
    (at least 6 credit hours)
  • Complete required loan requirements
    Such as FAFSA, Loan Application, Entrance Counseling and a Master Promissory Note (MPN)
  • Avoid exceeding borrowing limits
    There are annual and lifetime limits on how much you can borrow

Important Reminders

  • Dropping or withdrawing from classes may reduce your aid and could result in you owing money back.
  • Failing or not completing classes can impact your future eligibility.
  • Always check your student email and financial aid portal for updates or requests.

Questions?

If you have questions or are unsure how a change may affect your financial aid, contact the Financial Aid Office. We’re here to help you succeed!

419.559.2344
financialaid@terra.edu 
Roy Klay Hall, A100