Financial Information

Financial Information

The tuition and fee schedule is established for the academic year beginning with the summer session and ending with the spring semester. The schedule is reviewed each spring. Changes for the next academic year are announced with the publication of the Undergraduate Catalog for that year. This schedule of fees is applicable only to the 2024-2025 academic year.

Iona University reserves the right to alter its schedule of tuition and fees after due notice as determined by the Board of Trustees.

Tuition and Fee Schedules

Iona University Tuition and Fees Schedule 2024-2025

Full Time Undergraduate Students (Per year)

* Full-time is based on 12-18 credits per term.

Students will incur additional per credit tuition charges above 18 credits.

Part Time Undergraduate Students

Nursing - Second Degree Accelerated Program

Professional Studies & Visiting Undergraduate Students

* For Summer and Winter Intersession see rates below.

Summer & Winter Session Undergraduate Students

Summer Session I and Winter Tuition and Fees are due at the point of course registration. No financial aid is available for Summer I or Winter Session enrollment.

Audit Charges

Other Charges/Fees

* Subject to change based on insurance provider.

** Student health insurance can be waived with proof of comparable coverage.

Tuition Payment Policy

A student incurs a legal obligation to pay tuition at the time of registration. The student may only be released from this payment obligation if he/she notifies the University in writing of his/her intention not to attend the registered courses prior to the first day of the term in which the course is offered.

All tuition and fees are payable in full by the stated due date. For undergraduate semester students this date is approximately one month before the start of the fall and spring semesters. The University reserves the right to deny registration to any student who cannot demonstrate adequate financial means (this can include financial aid and employer deferment plans) to pay their tuition and fees.

For returning adult students in the trimester programs, payment is due at the time web registration closes for the term.

For all students registering for Summer Session and Winter Session classes, tuition and fees are due at time of registration.

Personal checks are welcome and should be made payable to Iona University and include the student’s ID number. Visa, Mastercard, and Discover credit cards are accepted, and payment may be made online 24 hours per day through the student’s PeopleSoft account. Credit Card paymrnts are subject to processing fees,

Many forms of financial assistance are available to eligible students at Iona University. Contact Student Financial Services at (914) 633-2497 for more information. Students receiving financial aid may defer tuition payment up to the amount awarded.

Billing

All billing is accomplished electronically with e-bill notification delivered to the student’s Iona University email address when charges are initiated or revised. Students are responsible for monitoring their student account transactions in PeopleSoft for charge activity between billing cycles, and to make timely payments as necessary.

Employer Tuition-Reimbursement Policy

Iona University will allow a student to defer payment of tuition until 30 days after the grades are due for that term if the student is taking advantage of a tuition-reimbursement program offered by his or her employer. To be eligible for this tuition deferral, the student must comply with the following conditions by the time of course registration:

1.        Provide a letter from the student’s employer clearly stating: (a) the terms of the employer’s tuition reimbursement program, and (b) the student’s eligibility for the program.

2.        Complete and return (to the Office of Student Financial Services) Iona University’s employer tuition-reimbursement form.

3.        Pay a $75 administrative fee.

4.        Pay any tuition, fees or other charges not covered by the employer’s reimbursement policy (e.g., if the employer pays 80 percent of tuition, the remaining 20 percent is due at registration).

5.        Not have a student account balance outstanding from a prior term.

Regardless of participation in this program, the responsibility for tuition payment remains that of the student. Iona University reserves the right to deny participation in this program to any student who has been delinquent in his or her tuition payments in the past. Students who participate in the employer tuition-reimbursement program and do not make payment by the deadline (i.e., 30 days after the grades are due for that term), will not be allowed to participate in the program in future terms.

The Student must renew all employee deferment paperwork for each term in which he/she enrolls.

For more information visit www.iona.edu/admin/sfs/sa/payment/deferred.cfm

Delinquent Accounts

If a student account is delinquent (has a balance outstanding after the due date) the University will not provide the student with a transcript of record, grades, letter of recommendation, or diploma/degree/certificate. In addition, the student will be prevented from registering for future semesters until the financial obligation has been settled in full. The University reports delinquent payment status to credit reporting bureaus. The student will be responsible for paying all legal fees, collection costs and charges necessary for the collection of any amounts not paid when due. By registering for courses, a student incurs a legal obligation to pay tuition and fees. All or a portion of this obligation may be waived if the student notifies the University in writing of his/her intention not to attend or to withdraw from a course of study in accordance with the University’s refund policy.

Refunds and Repayments of Title IV Funds

(Title IV funds include Federal Pell Grants, Federal Direct Loans, Federal PLUS Loans, Federal Supplemental Education Opportunity Grants and other Federal awards and loans.)

If a recipient of Title IV funding withdraws before completing 60 percent of the aid payment period (or period of enrollment), the institution must calculate the amount of Title IV aid the student did not earn. The amount of unearned aid equals the difference between Title IV aid that was distributed or could have been distributed for the payment period and the amount of Title IV aid that was earned. For additional information, contact the Student Financial Services Office.

For more detailed information on the process and implications of withdrawals, please visit the university website and navigate as follows: Student Life to Student Financial Services, then select Student Accounts, and then Withdrawals, Drops, and Refunds.

Tuition Refund Schedules

Iona University Refund Policy (tuition only):

Students may be eligible for a tuition adjustment/credit if the student drops or withdraws from a course prior to or during the refund period. Fees are nonrefundable. A drop refers to the student notifying the University (in writing) of his/her intent not to attend a course prior to the start of the term or session. An official drop releases the student from any tuition liability. Notification (in writing) received by the University after the ADD / DROP/ SWAP period is considered a withdrawal and adjustments/credits in tuition are as follows:

Undergraduate Regular Session (Fall & Spring Semester, Fall, Winter, and Spring Trimester)*

Undergraduate Summer Session I

Undergraduate Summer Session II & III

Undergraduate Winter Session, Intensive and Weekend Sessions

* Students withdrawing from a course will receive a grade of “W” for the respective course. The course will be part of the student’s official record of transcript, but will not be considered in the student’s overall cumulative average. Students receiving a “W” for a grade will still be liable for the tuition charges associated with that course. All Add/Drop periods are subject to change.

Tuition Payment Plans

You have the option to spread your tuition charges over the semester or trimester, interest-free, by enrolling in a tuition payment plan. For more information go to www.iona.edu/mystudentaccount.

Tuition Insurance Plan

Iona University is pleased to offer the Tuition Insurance Plan as an option for students and parents. We recommend that you avoid the risk of losing the university funds you worked so hard to secure. If you withdraw from classes because of a personal injury or sickness, this plan will return:

a.        80% of your insured term tuition or tuition, room and board charges,

b.        if the withdrawal results from medical or mental health condition.

Please visit www.iona.edu/tuitioninsurance.

Financial Aid

Financial Need

The financial aid program at Iona assists students who would be unable to pursue an education without some economic assistance. Matriculated students either accepted for admission or in attendance who demonstrate financial need and academic potential are eligible to be considered for financial aid. Financial need is the difference between the total cost of attendance (which includes tuition, fees, books, supplies, room, board, transportation and a minimal amount for personal expenses) and the resources that the student or student’s family can be expected to provide. This need is computed by filing the Free Application for Federal Student Aid (FAFSA). To be considered for any and all financial assistance, including institutional money, the FAFSA form must be completed by April 15 for each academic year. Failure to have an official FAFSA on file by our April 15 deadline will result in the loss of any institutional dollars awarded.

Typical budgets used in determining financial need for full-time undergraduate students are as follows:

The costs above are subject to change depending upon circumstances. All items, except tuition and fees and room and board for on-campus housing, are estimated. Please note that seniors are charged $17,710 for on-campus Food and Housing.

Application Procedures

Iona attempts to assist the largest possible number of qualified students with its limited resources. Students seeking financial aid consideration, other than merit scholarships are required to complete and submit the Free Application for Federal Student Aid (FAFSA) by our April 15 deadline. An official FAFSA must be received by Iona by the deadline. Please note that a “Rejected” FAFSA is not considered an “Official” FAFSA. Students who do not have an official FAFSA on file by the deadline will not receive their Iona need based awards.

Students enrolled at least half-time as matriculated students in an approved degree or certificate program may qualify for federal and/or state aid. The New York State Tuition Assistance Program (TAP) is available to matriculated students who are New York State residents taking at least 12 credits per semester or eight (8) credits per trimester. Students wishing to defer payments of tuition based on anticipated financial aid are encouraged to file the necessary forms as early as possible, but no later than six to eight weeks prior to registration.

Estimates of federal and state aid may be deducted from the amount owed to the University only if you have a financial aid package on PeopleSoft. Since eligibility criteria change annually and because processing may take up to ten weeks, applicants are encouraged to file all applications as early as possible and are urged not to determine that they are ineligible for a program without applying and receiving official notification from the administering agency or from Iona University.

Usually awarded on a yearly basis, financial aid is not automatically renewed. Annectedual reapplication is required by the deadlines established and published each year by Student Financial Services.

Financial Aid is awarded in three forms: “gift” aid (scholarship and grants), loans, and part-time employment. Students who are citizens or permanent residents of the United States and who are enrolled for at least six credits as a matriculated student in a degree program are eligible to apply for consideration.exp

Applicants who file the FAFSA on time will be considered for all available funds administered by Iona University. This includes Iona University scholarships and grants, as well as federal and state campus-based programs.

Verification

The Department of Education randomly selects a certain percentage of applications each year for schools to verify that the data provided on the FAFSA application is accurate. Students and parents who filed their IRS tax return are able to use the IRS Data Retrieval Tool (DRT) on the Free Application for Federal Student Aid (FAFSA). The IRS Data Retrieval transfers your IRS income tax information directly to your FAFSA. The best way to verify income is by using the IRS Data Retrieval Tool. This option streamlines the processing of your application and avoids unnecessary delays in constructing your aid package. In addition, you will need to complete the verification worksheet. Students and parents who do not use the DRT option will need to submit copies their IRS Tax Transcript for the prior year federal income tax returns. Upon receipt of the required materials, we will finalize the review of your application for financial aid.

If you are a new student and have been selected for verification, your offer of assistance is tentative, pending the completion of the verification process. If you are a continuing student, you will not receive a financial aid award notification email until the verification process is complete. If the documentation is not received by the established deadline, your offer of financial aid will be cancelled.

Should the verified financial information differ from the original information provided on the FAFSA, your aid may be adjusted. Please be sure to respond to requests for follow-up documentation in a timely manner to avoid delays in applying your financial aid as a credit to your student account.

Professional Judgment

If you experience circumstances that are not reflected on your Free Application for Federal Student Aid (FAFSA) that affect your ability to pay for your education, you may be eligible for reconsideration of aid offered. In these situations, federal regulations allow financial aid administrators to use professional judgment on a case-by-case basis. When such circumstances are sufficiently documented, adjustments to the data elements on your FAFSA that may impact your Student Aid Index (SAI) can be made. These adjustments can help to more accurately assess your financial need and may increase your eligibility for federal need-based financial aid. Need-based federal financial aid includes Federal Pell Grant, Federal Direct Subsidized Loan, and Federal Work Study.

NOTE: Since a professional judgment review’s purpose is to determine whether you may qualify for additional need-based federal aid, students who already have a $0 or lower  Student Aid Index (SAI) on their FAFSA do not need to submit a Professional Judgment request as a review will not impact your financial aid eligibility. To view your Student Aid Index (SAI), log in to the FAFSA website and click “View or Print your FAFSA Submission Summary (FSS)” from the “My FAFSA” page. If your SAI is already $0, please reach out to your financial aid counselor so that we may determine any other options that may apply to your specific situation.

Merit Awards/Scholarships

Iona University maintains a policy of non-discrimination on the basis of national or ethnic origin, race, creed, color, sex, religion, or handicap in all its financial aid programs, employment practices, policies and procedures.

Iona Scholarships and Grants

Funding for Iona scholarships and grants is provided from University resources. Scholarships and grants vary in value and may be used to cover tuition only. Scholarships and grants are available for full-time matriculated day students enrolled in the fall and spring semesters. They are not awarded for studies during intersession summer sessions. You must file the FAFSA for consideration of Iona grants and scholarships each year by the required April 15 deadline. Other institutionally-sponsored aid is also available to students who have prowess in athletics or other areas of competition.

Please note that the total amount of tuition-related aid a student receives cannot exceed the total cost of tuition. This tuition-related aid includes, but is not limited to, alumni grants, sibling awards, athletic scholarships, TAP, Pell and outside scholarships.

The Alfred & Eleanor Alasia Endowed Scholarship

This scholarship is awarded to students who have achieved a 2.5 GPA prior to their tenure at Iona University and maintain no less than a 2.5 GPA. Recipients must also demonstrate financial need.

The Iona University Alumni Association Endowed Scholarship

Awarded to an incoming freshman, renewable in sophomore, junior and senior year. The recipient must be (in order of priority) the child, grandchild, sibling or spouse of an Iona University graduate and have a strong record of academic achievement on the secondary level as judged by the Admissions Office.

The Grant Archibald Scholarship

Awarded on the basis of financial need and academic achievement, preferably to an entering freshman from the New Rochelle area.

The Louis Avitabile ‘84 Endowed Scholarship

Awarded to an undergraduate junior or senior accounting major who maintains a 3.0 overall GPA, a 3.5 GPA in the major, and demonstrates strong financial need. The recipient should also possess strong interpersonal skills.

The Sophie Biddy Endowed Scholarship Award

Awarded to an undergraduate honors student majoring in biology. Recipients must maintain at least a 3.5 GPA in the major. This scholarship is awarded in the senior year based on junior year grades.

The Michael and Lillian Bruno Endowed Scholarship

A scholarship awarded to female athletes who have achieved during high school, and subsequently maintain during their tenure at Iona University, no less than a 2.5 cumulative GPA.

The Nicholas J. Campbell Endowed Scholarship

Awarded to an undergraduate student. Recipients must demonstrate financial need as determined by the Free Application for Federal Student Aid (FAFSA), have completed 12 college credits, maintain a minimum 3.0.

The Dominic J. Carbone Endowed Scholarship

Awarded to students majoring in accounting in their senior year. Recipients must demonstrate strong unmet financial need, maintain a minimum 3.50 cumulative GPA, and demonstrate the highest ideals of the Iona Community and the School of Business.

The Chase Manhattan Foundation Scholarship

A scholarship awarded to students majoring in finance. Recipients must demonstrate strong financial need as determined by the FAFSA, demonstrate proven academic achievement at the secondary school level, maintain a minimum 3.0 cumulative GPA, and be residents of the Northeast.

The Con Edison Endowed Scholarship

This scholarship is awarded to students who have achieved and maintain a 2.5 GPA and show financial need.

The Frances & Frank Conese Endowed Scholarship

This scholarship is awarded to a School of Business student who has achieved and maintained a 2.5 GPA. Students must demonstrate a commitment to the study of business and show financial need as determined by the FAFSA. Must also be a first generation college or university student.

The Arthur J. Crames Endowed Scholarship

This scholarship is given to those students whose parent(s) are active or deceased New York City police officers, New York City firefighters, or New York State police troopers. Preference will be applied in the following order: first priority is to children of those who have been disabled or killed in the line of duty; second, to children of active line officers who have died of natural causes; and third, to children of any active line officer serving in the three above-named organizations. In addition, recipients should demonstrate financial need as determined by the FAFSA and academic achievement.

The Jane & Clement J. DeMasi, MD ‘57 Endowed Scholarship

This scholarship is given to full-time, undergraduate Pre-Med majors who demonstrate financial need as determined by the FAFSA. Recipients must also have achieved during high school and subsequently maintain a 2.50 cumulative GPA during their tenure at Iona. Must complete their baccalaureate degree in no more than 5 years.

The DeFeo Family Endowed Scholarship

This scholarship is awarded to full-time, undergraduate students who demonstrate financial need as determined by the FAFSA. Recipients must also have achieved during high school and subsequently maintain a 3.50 cumulative GPA during their tenure at Iona and complete their baccalaureate in no more than 5 years. The recipient(s) must show leadership ability and/or commitment to “excellence” as demonstrated through academic awards, leadership position in academic or professional organizations, or other recognition (e.g. letters of reference).

The Herman & Henrietta Denzler Endowed Scholarship

This scholarship is given to full-time, undergraduate students who demonstrate financial need as determined by the FAFSA. Recipients must also have achieved a 2.75 GPA during high school and subsequently maintain a 2.50 cumulative GPA during their tenure at Iona. The recipient must have attended a New York Metro Area Catholic High School - first preference given to Christian Brother Schools. Must complete their baccalaureate degree in no more than 5 years.

Class of ‘57 Deserving Students Scholarships (DSS)

This scholarship is given to full-time, undergraduate accounting majors who demonstrate financial need as determined by the FAFSA. Recipients must also have achieved during high school and subsequently maintain a 2.75 cumulative GPA during their tenure at Iona. Must complete their baccalaureate degree in no more than 5 years.

The Kenneth Dolan Endowed Scholarship

Established in 1990 in memory of Kenneth Dolan, class of 1989, this scholarship is awarded to an incoming freshman from Brooklyn, NY. Once a student is selected, he/she will receive this scholarship for a maximum of four years if the following requirements are met: recipients must demonstrate unmet financial need as determined by the FAFSA, maintain a 3.0 GPA, and participate in the Annual Kenneth Dolan Memorial 5K Run activities each June. Preference will be given to Irish-Americans.

The John F. English Endowed Scholarship

This scholarship is awarded to a senior student from the five boroughs and Nassau County who is majoring in liberal arts and demonstrates strong financial need as determined by the FAFSA, as well as superior academic achievement at the secondary school level. Recipients must maintain a 3.0 cumulative GPA in their studies at Iona. Candidates must also submit a short essay of 150-200 words using the theme “Where I am Going” and be personally interviewed by a member/members of the scholarship committee.

The Ronald Federico Memorial Scholarship

This scholarship is awarded to students who are declared social work majors. Recipients must be in good standing with Iona, demonstrate both an academic and skills-based aptitude for generalist social work practice upon degree completion, and articulate the nature of their financial need for the award. Once gainfully employed, recipients agree to make a single contribution (which need not be equivalent to the amount of award received) to the Ronald Federico Memorial Fund, so that the fund can continue to help future needy students.

The Beatrice and John Flaherty Endowed Scholarship

This scholarship is given to full-time students who demonstrate financial need as determined by the FAFSA. Recipients must also have achieved during high school and subsequently maintain a 2.5 cumulative GPA during their tenure at Iona.

The Patrick J. Foley ‘57 History Endowed Scholarship

Established through the generosity of Patrick J. Foley ‘57, this scholarship is awarded to a student majoring in history or political science who has demonstrated academic excellence at the secondary school level as well as unmet financial need as determined by the FAFSA. Recipients must maintain a 3.0 cumulative GPA.

The Forster Endowed Scholarship

Awarded to a School of Business student who is majoring in accounting, the scholarship benefits a student who has achieved and maintained a cumulative 2.5 GPA and shows financial need as determined by the FAFSA.

The John P. Gill Endowed Scholarship

Funded through the generosity of John P. Gill ‘56, this scholarship awards approximately $1,900 per year to an undergraduate business student whose father is deceased. Recipients must show strong financial need as determined by the FAFSA and maintain at least a minimum 3.0 cumulative GPA.

The Robert ‘79 and Julia ‘79 Greifeld Endowed Scholarship

This scholarship is awarded to students who have achieved a 2.5 GPA prior to their tenure at Iona University. Students must maintain a 3.0 cumulative GPA while at Iona and show financial need as determined by the FAFSA. Students must qualify and participate as athletes in the University’s Track and Field Program.

The Joel A. Halpern Memorial Endowed Scholarship

This scholarship is awarded annually to a member of the incoming freshman class. Criteria for the receipt of this scholarship include academic achievement and high financial need as determined by the FAFSA. Preference will be granted to Westchester County residents.

The William Randolph Hearst Endowed Scholarship

This scholarship is awarded to promising, economically disadvantaged first-generation college or university students from New York City and Westchester County for which financial assistance is essential to remaining in school.

IBM Minority Student Endowed Scholarship

Awarded to a full time undergraduate minority student in the School of Business.

The Mary and Anna Hannah Kane Pre-Medical Memorial Scholarship

This scholarship is awarded to a student enrolled in Iona’s pre-medical program who demonstrates academic excellence as well as unmet financial need as determined by the FAFSA. Recipients must also show academic achievement at the secondary school level and maintain a 3.0 cumulative GPA in their studies at Iona University. Preference will be given to females of the Catholic faith.

The Jeffrey Kahn Scholarship

This scholarship is awarded to full-time undergraduate students who demonstrate high unmet need as determined by the FAFSA. Recipients must live in the 5 boroughs of New York City.

The Raymond J. Kiernan ‘52 Endowed Scholarship

This scholarship is awarded to full-time catholic undergraduate students of Irish descent. Must be enrolled in the School of Business and have unmet need as determined by the FAFSA. Recipients must maintain a cumulative GPA of no less than 3.0 and complete their baccalaureate in nor more than 5 years.

The Owen F. Leonard ‘67 and Patricia N. Leonard Endowed Scholarship

This scholarship is awarded to students who have graduated from St. Thomas Aquinas High School, have demonstrated financial need as determined by the FAFSA, and achieved and subsequently maintain no less than a 3.0 cumulative GPA.

The Jean-Claude Lovinsky Memorial Endowed Scholarship

This scholarship is awarded to full-time undergraduate students who demonstrate unmet need as determined by the FAFSA. The recipient must also have achieved a 2.50 GPA during high school and subsequently maintain a 2.50 cumulative GPA during their tenure at Iona and complete their baccalaureate in no more than 5 years. Preference will be given to students who are of Haitian or other Caribbean island descent (1st priority) or of African-American descent and demonstrate true humanitarian character, as exemplified by Jean-Claude Lovinsky, through acts of charity, volunteerism, and/or participation in organizations that foster service to the community.

Gail & Al J. Maiolo ‘64 Endowed Scholarship

This scholarship is awarded to full-time undergraduate students who demonstrate unmet need as determined by the FAFSA. The recipient must also have achieved a 2.50 GPA during high school and subsequently maintain a 2.50 cumulative GPA during their tenure at Iona and complete their baccalaureate in no more than 5 years.

The Patrick J. Martin ‘62 Endowed Scholarship

This scholarship is awarded to graduates of Cardinal Hayes High School who graduated with at least a 2.5 GPA. The recipients must be mathematics or computer science majors who achieve and maintain at least a 2.5 cumulative GPA during their tenure at Iona University. Students must show unmet financial need as determined by the FAFSA.

The Maruna Internet Scholarship

Vincent T. Pica ‘75 has established the Maruna Internet Scholarship to financially assist men and women who are furthering their education at Iona University. In order to be eligible, a student must meet all of the following criteria:

1.        Be an Iona University freshman who graduated from high school with no less than a 3.0 GPA and combined SAT scores of no less than 1150.

2.        Show demonstrated need as determined by the FAFSA (Free Application for Federal Student Aid).

3.        Submit an essay of no more than two pages stating reasons for wanting to study the Internet and the use of computers in his/her academic discipline.

4.        Maintain at least a 3.0 GPA during his/her tenure at Iona.

5.        Take a minimum of three courses in Internet instruction during his/her tenure at Iona.

The Catherine H. ‘71MA and Hugh J. McCabe ‘49 Endowed Scholarship

Established by the McCabe family in honor of their parents, this scholarship is available to students who are graduates of New Rochelle High School and have achieved during high school and maintain during their tenure at Iona University no less than a 3.0 cumulative GPA. Students must show financial need as determined by the FAFSA.

The Peter M. Marano ‘55 Endowed Scholarship Fund

This scholarship is awarded to full-time undergraduate students who are graduates of Cardinal Hayes High School. Recipients must demonstrate unmet as determined by the FAFSA and have achieved during high school and maintain during their tenure at Iona University no less than a 3.0 GPA. Must complete their baccalaureate in no more than 5 years.

The Michael V. McCarroll ‘73 Endowed Scholarship

This scholarship is awarded to successful students who demonstrate a commitment to the study of accounting or finance. Students must achieve and maintain a 2.5 cumulative GPA and show financial need as determined by the FAFSA.

The John J. McFadden ‘49 Endowed Scholarship

A scholarship awarded to a School of Business student who exhibits academic excellence and demonstrates unmet financial need.

The McNally Family Endowed Scholarship

This scholarship is awarded to students who have demonstrated high academic achievement and whose families demonstrate mid-level financial need. Recipients must have achieved no less than an 85% average while in high school and received a combined average of 1100 on the SATs. Recipients must also maintain a 3.0 cumulative GPA.

Victor Menezes Endowed International Scholarship

This scholarship is awarded to students who are graduates of a Christian Brother Secondary School preferably located in India (1st preference), Asia, South America, Africa, Australia or Europe. Recipients must demonstrate financial need and who have achieved and maintained a cumulative GPA of no less than 2.5 during high school and their tenure at Iona University.

The Charles E. Netsch Endowed Scholarship

Created to honor the life and work of Charles E. Netsch, this scholarship is awarded to students who have demonstrated a need for financial assistance as determined by the FAFSA and who have achieved and maintained a cumulative GPA of no less than 2.5 during high school and their tenure at Iona University.

The Brother Robert E. Novak Endowed Rowing Fund

This scholarship is awarded to full-time, undergraduate students who demonstrate financial need as determined by the FAFSA. Recipients must also have achieved during high school and subsequently maintain a 2.50 cumulative GPA during their tenure at Iona and complete their baccalaureate in no more than 5 years. The recipient must demonstrate a commitment to the sport of rowing.

The O’Connor Family Endowed Scholarship

This scholarship is awarded to entering freshman who meet the requirements to participate in Iona’s Comprehensive Assistance Program (CAP). Students must achieve and maintain a 2.5 GPA and demonstrate financial need as determined by the FAFSA.

The Edward F. O’Reilly Scholarship

Funded by the Coca Cola Bottling Company of New York in honor of the outstanding achievements of Edward F. O’Reilly ‘60, an amount of $7,500 will be distributed evenly among one freshman, one sophomore, one junior, and one senior, each of whom must have at least one member of his/her immediate family employed by Coca Cola. Recipients must have proven academic achievement on the secondary school level and demonstrate financial need.

The Eileen O’Reilly Endowed Scholarship

This scholarship is awarded to a graduate of Roosevelt or Saunders High School who achieved and maintain a 2.5 cumulative GPA during their tenure at Iona University. The student must show financial need as determined by the FAFSA.

The Buddy Pain Endowed Scholarship

This scholarship is awarded to a full-time undergraduate student who is a member of the Iona University Baseball Team and demonstrate dedication, effort and leadership to the team, as determined by the prevailing baseball coach. Recipients must maintain a 2.5 cumulative GPA and complete their baccalaureate in no more than 5 years.

The Grace and Salvatore Palestro Scholarship

This memorial scholarship, sponsored by Salvatore Palestro, Jr., adjunct associate professor of Accounting, is awarded to an accounting major on the basis of academic achievement. The scholarship is awarded in senior year based on junior year grades.

The George and Margaret Pappas Scholarship Award

An endowed scholarship awarded to serve as a perpetual tribute to the many years of devoted service Dr. and Mrs. Pappas have given to Iona and its students. This scholarship award was established by the children of Margaret and George Pappas: Linda, Stephen and Lisa, and maintained by the Pappas family, friends and former students. Declared, full-time seniors at Iona, who are pre-med students and accepted to a school of medicine or to a four year program in a related health science, shall be considered by an administrator and a designated science faculty committee for the scholarship award. Required qualifications are a high academic record, high MCAT score, and personal qualities consonant to the requirements of the medical profession which reflect service to humanity and the mission of Iona University.

The Josephine & John A. Parella, MD ‘66 Endowed Scholarship

This scholarship is awarded to full-time undergraduate, pre-med students. Preference will be given to students who were raised in a single parent household, are enrolled in Iona’s Pre-Medical Program and reside in New York City or the Metropolitan area. Recipient must have achieved and maintain during their tenure at Iona a 2.5 cumulative gpa. Additionally, preference will also be given to students who demonstrate academic excellence and complete their baccalaureate in no more than 5 years.

The Robert H. Paschel ‘67 Endowed Scholarship

Scholarships awarded to men and women who demonstrate a commitment to the study of accounting. Preference will be given to students who come from single-parent households, are born in the United States, and demonstrate financial need as determined by the FAFSA.

The Msgr. Peters/Bernard Gallagher Endowed Scholarship

This scholarship is awarded to a student who is active in athletics as a member of the Catholic High School Athletic Association of the Archdiocese of NY and the Diocese of Brooklyn (CHSAA). The student must be successful at Iona and demonstrate financial need as determined by the FAFSA.

The Marie E. Rees Memorial Endowed Scholarship

This scholarship is awarded to full-time undergraduate students who are graduates of Boonton High School or All Hallows High School. Recipients must demonstrate unmet need as determined by the FAFSA and complete their baccalaureate in no more than 5 years. Additionally, recipients must have overcome personal obstacles in their attempt to pursue a university education and have demonstrated the ability to achieve specific goals and are committed to completing their education in 4 years (barring mitigating circumstances).

The Blessed Edmund Rice Endowed Scholarship

Established in honor of Blessed Edmund Rice, the founder of the Christian Brothers, this scholarship is awarded to students who are graduates of a Christian Brothers high school (e.g., All Hallows, Blessed Sacrament, Rice High School, Iona Prep), have demonstrated financial need, and exemplify the teachings and example of Blessed Edmund Rice through their participation in volunteer work, community service or campus ministries.

The Steven V. Reitano Endowed Scholarship

This scholarship is awarded to full-time undergraduate students who are New York State residents and attend a high school in Westchester, New York City or Long Island. Recipient must show unmet need as determined by the FAFSA and must have achieved and maintain during their tenure at Iona a 2.5 cumulative gpa. Additionally, must complete their baccalaureate degree in no more than 5 years.

The Heinz Riehl ‘99H Endowed Scholarship

This scholarship was established to support and advance the careers of men and women who demonstrate a commitment to the study of business. Recipients should have achieved an 80% cumulative GPA in high school. Preference is given to incoming freshmen with demonstrated financial need as determined by the FAFSA.

The Eleanore and Lawrence Riley Endowed Scholarship

A memorial scholarship awarded to an incoming freshman who has demonstrated superior academic achievement on the high school level as well as unmet financial need as determined by the FAFSA. Recipients must maintain a 3.0 cumulative GPA. Priority will be given to those students who are practicing Roman Catholics.

The George M. Roche Memorial Scholarship

This scholarship is awarded to a graduate of Blessed Sacrament High School who has proven academic achievement on the secondary school level and demonstrated financial need as determined by the FAFSA.

The Mary Jane and Peter Scanlon ‘52, ‘92H Scholarship

This scholarship will be provided to selected graduates from All Hallows High School who have demonstrated financial need as determined by the FAFSA.

The Robert Schoenherr Memorial Scholarship

Sponsored by the friends and family of Robert Schoenherr and awarded to a student who is a New Rochelle resident and a graduate of Blessed Sacrament/St. Gabriel’s High School. Criteria for this award include average academic ability, unmet financial need, and demonstrated high Christian character as exemplified by Robert Schoenherr.

The General Frank R. Schwengel Scholarship

Established in 1989 by the Army, Navy and Air Force Veterans in Canada, United States Unit (ANAVICUS) to honor their founder and motivating Force General Frank R. Schwengel, this scholarship is awarded to a sophomore or junior student who has demonstrated academic achievement and leadership potential (as shown by a letter of recommendation). Recipients must also demonstrate financial need as determined by the FAFSA and maintain a minimum 3.0 cumulative GPA.

The James M. Slattery ‘65H Endowed Scholarship

This scholarship is awarded to students who have achieved a 3.5 GPA prior to their tenure at Iona University and maintain no less than a 3.2 cumulative GPA. Recipients must also demonstrate strong financial need as determined by the FAFSA.

The Raymond V. Sozzi ‘65 Endowed Scholarship

This scholarship is awarded full time undergraduate students graduated from Cardinal Hayes High School enrolled in the School of Business. Recipient must show unmet need as determined by the FAFSA and must have achieved and maintain during their tenure at Iona a 2.7 cumulative GPA. Additionally, must complete their baccalaureate degree in no more than 5 years. The recipient must actively participate in a qualified work study program, either on or off campus.

The Lucretia Stanco-Mann ‘76 ‘78MBA and Edward T. Mann ‘73 ‘74MBA Endowed Scholarship

This scholarship is awarded to students who have documented learning disabilities or attention difficulties and have demonstrated financial need as determined by the FAFSA. Preference will be given to entering freshmen who meet program requirements and participate in the Comprehensive Assistance Program (CAP).

The Br. Patrick N. Synan Scholarship

This scholarship is available to a freshman who is a graduate of Rice High School and is awarded for freshman year only. Recipients must demonstrate unmet financial need as determined by the FAFSA.

The Transamerica Foundation Endowed Scholarship

This scholarship is intended to help students who have financial need as determined by the FAFSA and attend the School of Business.

The Valerie Vidile Memorial Scholarship

This scholarship is awarded to full time undergraduate students who are graduates of St. Gabriel-Blessed Sacrament High School who demonstrate unmet need as determined by the FAFSA. Must be a member of the Iona University Crew Team and must have achieved and maintain during their tenure at Iona a 2.5 cumulative GPA. Additionally, must complete their baccalaureate degree in no more than 5 years.

The Wings of Hope Foundation Endowed Scholarship in memory of Justin Samela Miceli ‘09

Established to honor the memory of Justin Samela Miceli, ‘09, a 19 year old sophomore at Iona University who was tragically killed in a car accident. This scholarship is awarded to full-time undergraduate School of Business student who demonstrate financial need as determined by the FAFSA. Recipients must demonstrate a commitment to community service and athletics through participation in service organizations and athletic events. Must have achieved and maintain during their tenure at Iona a 2.5 cumulative GPA and complete their baccalaureate degree in no more than 5 years.

University Funded Financial Aid Probation

To receive and retain any University funded financial aid, recipients must be matriculated, full-time day students and must maintain satisfactory academic progress. Those students who fail to maintain the required index for financial aid will be informed by Student Financial Services at the end of the semester that they have been placed on probation but will receive the financial aid award for the following year on a probationary basis. Failure to meet the cumulative index requirement by the end of the probationary period will result in a loss of the aid in question for future semesters. Students who subsequently obtain the required cumulative index may petition the reinstatement of their scholarship by completing the Institutional Scholarship Appeal Form, available at http//www.iona.edu/admin/sfs/finaid/forms/doc/appeal.cfm. Once completed, submit the form to Mary A. Grant, Director of Financial Aid at mgrant@iona.edu. Letters of Appeal for the fall semester must be received by June 15 and letters of appeal for the spring semester must be received in the SFS Office by January 15. Any appeals received after these dates will not be reviewed. Students will be notified to their Iona email account within a month of the above deadlines of a decision. Re-issuance is not automatic and will depend on availability of funds for that academic period.

Federal and State Programs

Federal Pell Grant

Federally-administered awards range up to a yearly maximum of $6,895* for full-time students who meet the federally-established eligibility criteria. Awards for students registered at least half-time but less than full-time are pro-rated. Monies received under this program are applicable toward costs of attendance, i.e., tuition, fees, books, transportation, room/board, personal expenses. The Free Application for Federal Student Aid (FAFSA) available on line at www. fafsa.ed.gov, must be used to file for the Pell Grant and campus-based aid. *Pending Congressional authorization.

Federal Supplemental Educational Opportunity Grant Program (SEOG)

Federally-administered, campus-based grants are awarded based on high financial need and availability of funds. Monies disbursed through this program may be applied to the cost of attendance. Students must be Pell Grant eligible to receive an SEOG award.

Vietnam Veterans Tuition Awards

Students should contact Student Financial Services for further details.

Federal Direct Student Loans

Federal Direct Loans can be subsidized or unsubsidized and are processed through the U.S. Government. You can receive a subsidized loan and an unsubsidized loan for the same enrollment period as long as you are enrolled as a matriculated student for at least 6 credits per term. Repayment begins six months after graduation or six months after your enrollment status is less than half time (five or fewer credits).

A subsidized loan is awarded on the basis of financial need. You can calculate your financial need by subtracting your Expected Family Contribution (EFC) from the Cost of Attendance. The EFC is determined by the Department of Education and is calculated from your data on the Free Application for Federal Student Aid (FAFSA). The COA is determined by the University. Interest on this loan is not charged while you are in school enrolled for six or more credits and during your six month grace period. The federal government “subsidizes” the interest for you during these periods.

An unsubsidized loan is non-need based. You will be charged interest from the time the loan is disbursed until it is paid off. If you allow the interest to accrue while you are in school or during other periods of non-payment, it will be capitalized. The interest will be added to the principal amount of your loan and additional interest will be based on that higher amount.

The amounts you can borrow depend on your grade level in school and on the type of student you are: dependent undergraduate, independent undergraduate (or a dependent undergraduate whose parents are unable to get a PLUS Loan), or a graduate student.

Annual Loan Limits for Subsidized and Unsubsidized Loans First Disbursed on or after July 1, 2008:

Federal Direct Parent PLUS Loan

The Federal Direct Parent PLUS Loan is a loan that a parent can utilize to help pay for a student’s educational expenses. This loan is for parents of dependent, undergraduate students who are enrolled as a matriculated student at least half time (six credits or more) per term. These loans are processed through the U.S. Government. Parents must be credit-worthy and have no adverse credit history. Your parent can borrow up to the cost of attendance (COA) for the year, minus any other financial aid you received. If your parent is NOT approved for the PLUS Loan, you will be eligible to receive more Federal Direct Unsubsidized Loan funds. You will be notified of this additional award by the Student Financial Services Office.

Before a loan is distributed, a first-time borrower is required to complete an entrance interview session online and sign a Master Promissory note (MPN) at www.studentloans.gov.

New York State Grants and Scholarships

Aid for Part-Time Students (APTS)

State program, campus-based, part-time (at least three (3) credits) for New York State resident students attending an institution in New York State. Awards range up to $2,000 per academic year depending on tuition charges. A separate APTS application is required, along with copies of student’s and/or parents’ or spouse’s prior year NYS tax return. Dependent students must submit parents’ prior year NYS tax return.

AmeriCorps Education Award

In return for successful completion of their service, members of AmeriCorps programs receive money for school in the form of an education award that can be applied to outstanding student loans or for future higher educational and vocational training pursuits. The amount of a full-time Segal AmeriCorps Education Award is equivalent to the maximum value of the Pell Grant for the fiscal year in which the term of national service is approved. The amount of the Pell Grant can change each year. Therefore, the amount of a full-time award can change. Once an individual earns an award, the dollar amount of that award will not change. The award amount varies based on the term of service completed. Information about New York State programs can be found by contacting the NYS Office for National and Community Service, Division of the Budget, State Capitol, Albany, NY 12224.

Memorial Scholarships

Memorial scholarships for families of deceased police officers and firefighters provide financial aid to children and spouses of deceased police officers, firefighters and volunteer firefighters of New York State who have died as the result of injuries sustained in the line of duty. The scholarship supplements the $450 received through the Child of Police Officer-Firefighter-Correction (CPF) award program. Students must be New York State residents and matriculated at approved colleges or other post-secondary institutions in New York State; study full-time in approved undergraduate programs; have a parent or spouse who was a police officer; firefighter or volunteer firefighter who died as the result of injuries sustained in the line of duty and submit a Memorial Scholarship Supplement which is available from the New York State Higher Education Services Corporation (HESC). Once eligibility has been established, the student must submit an application for payment by May 1 of the academic year for which the scholarship is sought. Complete a Free Application for Federal Student Aid (FAFSA) and an Express TAP Application (ETA).

Persian Gulf Veterans Awards

Persian Gulf Veterans Tuition Awards (PGVTA) provide up to $1,000 per semester for full-time study or $500 per semester for part-time study to Persian Gulf veterans matriculated at an undergraduate or graduate degree-granting institution in New York State. For full-time study, awards are $1,000 per semester for up to eight semesters (four years) of undergraduate study and for up to six semesters (three years) of graduate study. For part-time study, awards are $500 per semester for up to 16 semesters (eight years) of undergraduate study and for up to 12 semesters (six years) of graduate study. Students must have served in the US Armed Forces in the Persian Gulf from August 2, 1990 to November 30, 1995, have been discharged under other than dishonorable conditions, be matriculated full or part-time in an undergraduate or graduate degree-granting institution in New York State, have applied for Tuition Assistance Program (TAP) award if full-time, and have applied for a federal Pell Grant award for full-time or part-time undergraduate study. Complete a Free Application for Federal Student Aid (FAFSA) and an Express TAP Application (ETA).

Regents Award for Children of Veterans (CV)

Eligible students are those whose parent(s) served in the US Armed Forces during specified periods of war or national emergency and, as a result of service, died or suffered a 40 percent or more disability, is classified as missing in action, or was a prisoner of war. The veteran must currently be a New York State resident or have been at the time of death, if death occurred during or as a result of service. The award is $450 per year. Apply before May 1 of the academic year for which you are requesting payment. Complete a Free Application for Federal Student Aid (FAFSA) and an Express TAP Application (ETA).

Regents Award for Children of Correction Officers (CO)

New York State residents who are attending, or planning to attend full-time, a college or university in New York State are eligible if they have had a parent who died as a result of injury sustained in the line of duty while serving as a correction officer in a New York State correctional facility. The award amount is $450 per year. Apply before May 1 of the academic year for which you are requesting payment. Students must initially establish eligibility by submitting a Child of Correction Officer form to the New York State Higher Education Services Corporation before applying for payment. Complete a Free Application for Federal Student Aid (FAFSA) and an Express TAP Application (ETA).

State Aid to Native Americans

Enrolled members of a New York State tribe and their children who are attending, or planning to attend, a college or university in New York State and are New York State residents are eligible. Awards for full-time students are up to $1,750 annually; part-time awards are approximately $75 per credit hour. Apply by July 15 for the fall semester, December 31 for the spring semester, and May 20 for summer session.

Tuition Assistance Program

State-administered (full-time) awards range from $500 to $5,665 per year for eligible full-time students. Administered by the New York State Higher Education Services Corporation, this award is applicable toward the cost of tuition.

If your actual TAP award is less than the estimated figure or if you lose eligibility, the Student Financial Services Office will not make up the difference.

Part-Time TAP Program

New York State residents who are enrolled part-time are eligible to apply if they were a first-time freshman in the 2007-08 academic year or thereafter and have earned 12 credits or more in each of the two consecutive preceding semesters, for a minimum total of 24 credits earned and maintain a minimum of a “C” average. Administered by the New York State Higher Education Services Corporation, this award is applicable toward the cost of tuition. Please visit NYSHESC’S website at http://www.hesc.com/content.nsf/SFC/0/PartTime_TAP_Program for more details.

Part-time Federal Employment

The Federal Work Study Program (FWSP) is a campus-based, federal program. A limited number of part-time positions on campus are available to students who demonstrate financial need as determined by the FAFSA. The wage rate varies depending upon skills required and experience. The monies earned through the Federal Work Study Program does not deduct from the amount of tuition due for that term; it is a job placement program.

Veterans Benefits

Iona University is fully accredited for the receipt of benefits by veterans or their eligible dependents under the terms of Title 38, US Code. All eligible students are required to submit to the Veterans Counselor a request for all veteran educational benefits, i.e., G.I. Bill^®, Chapter 34 or 35; VEAP.

In accordance with Title 38 US Code 3679 subsection (e), this school adopts the following additional provisions for any students using U.S. Department of Veterans Affairs (VA) Post 9/11 G.I. Bill^® (Ch. 33) or Vocational Rehabilitation and Employment (Ch. 31) benefits, while payment to the institution is pending from the VA. 

Iona University will not:

• Prevent nor delay the student’s enrollment;
• Assess a late penalty fee to the student;
• Require the student to secure alternative or additional funding;
• Deny the student access to any resources available to other students who have satisfied their tuition and fee bills to the institution, including but not limited to access to classes, libraries, or other institutional facilities.

However, to qualify for this provision, such students will be required to produce the Certificate of Eligibility by the first day of class.

Federal Aid

Eligibility for Pell and for other Title IV campus-based aid is determined via congressionally approved needs analysis systems. All students receive an official award notification requiring they go on line to their PeopleSoft account to view their financial aid awards. You will be able to view the total annual award from each Title IV fund, allocated on a per semester/trimester basis. All awards, with the exception of Federal Work Study (FWS), are credited to the students account on a semester or trimester basis. A student employed through the FWS program is paid by check every two weeks for the hours worked.

Verification Procedure

Student Financial Services is required to verify the information provided by the student on the financial aid forms of any student selected for verification by the Federal Government. This information will be requested from students through e-mails to your Iona University e-mail account. Only students who are selected for verification by the federal government must submit signed prior year Federal Tax Transcript (including all schedules and W2’s) for their parents and themselves and the appropriate Federal Verification work sheet available at www.iona.edu/admis/finance/apply. Failure to provide this documentation will result in the revocation of financial aid awards and the appropriate Federal Verification work sheet available at www.iona.edu/admis/finance/apply.

Corrections

Discrepancies between the information reported on the FAFSA and the documentation provided will have to be resolved by a recalculation of the needs analysis which determines eligibility for financial aid. Before a Pell Grant can be disbursed, the FAFSA Submission Summary (FSS) data will have to be returned to the federal processor for correction, and then be resubmitted to Student Financial Services. Revisions to the financial aid package resulting from recalculation are communicated to the student via their Iona University email.

Repeating Courses

If, in a prior semester, a student received financial aid for courses and then withdraws or fails those courses, a student cannot in future semesters receive financial aid again for repeating the courses they failed or from which they withdrew.

Deadlines

No loans will be processed until the required documentation is received. The guarantor will deny any loan certified by the school after the last day of classes in the enrollment period covered by the loan.

Likewise, a Pell Grant may not be disbursed if the student has not submitted a valid Student Aid Report to Student Financial Services by the last day of class.

Employment under the Federal Work Study program will be terminated 60 days after the start of employment if requested documentation has not been received. Student Financial Services reserves the right to revoke awards in the event that requested information is not provided after the third and final request.

Colleges and universities are required to refer applicants who are suspected of fraud in connection with the aid application to the Department of Education for investigation.

Refund/Repayment Policy

Any student receiving federal aid who withdraws during the time when the institutional refund policy is in effect and who is entitled to a refund, may have to return all or a portion of this refund to the Title IV aid programs.

Iona University Satisfactory Academic Progress (SAP) Policy

Federal regulations (Sections 668.16(e).668.32(f) and 668.34) require that schools monitor the academic progress of each applicant for federal financial assistance and that the school certify that the applicant is making satisfactory academic progress toward earning his/her degree. This determination of progress must be made at least once a year and before the financial aid office disburses any federal aid funds for the subsequent semester.

The satisfactory academic progress policy must include a qualitative and quantitative measure of the student’s progress. The qualitative measure must establish a minimum grade point index standard. The quantitative measure must establish a maximum time frame for a student to complete his/her program and a minimum number of credits a student must satisfactorily complete each year.

For financial aid purposes, satisfactory grades are defined as: A, B+, B, C+, C, D, P, SP and T. Unsatisfactory grades are defined as: NG, U, F, FA and I.

Qualitative SAP Standards:

2.0 cumulative Grade Point Average for undergraduates.

3.0 cumulative Grade Point Average for graduate students.

Quantitative SAP Standards:

Students must have earned at least 67% of their attempted course credits to be considered to be meeting Satisfactory Academic Progress minimum standards. Students are permitted to receive federal student aid only for the number of terms that reach 150% of the amount of time it normally takes to complete their degree program. The majority of undergraduate programs require 120 hours for graduation. The maximum time frame for students in these programs is 180 attempted hours (120 x 1.5 = 180). Students whose programs require more than 120 hours for a degree will have a higher limit. All graduate degrees must be completed within 3 years of full-time attendance or 6 years of part-time attendance.

Students are not eligible to receive federal financial assistance for terms beyond this point, even if they did not receive aid for all of terms included in figuring whether they have exceeded 150% of the maximum time allowed to complete their degree requirements. SAP is reviewed yearly except for students on probation whose status is reviewed each semester:

Transfer credits: Transfer Credits accepted for the student’s academic program or degree is counted when measuring the maximum time frame to complete the degree or program. Iona University does not accept for credit any transfer grades lower than C.

Repeat Policy: For federal and institutional aid students can repeat a course once. The most recent attempt will count towards GPA as well as in the calculation for attempted and completed credits. Courses repeated due to an earlier failing grade are eligible for federal student aid if the course is a requirement for the student’s degree program.

Withdrawals: Grades of W are counted as courses attempted and count toward the maximum time frame. Attempted hours are those hours for which students were still officially registered at the conclusion of each semester’s Add/Drop period. Withdrawals are counted as attempted hours.

Audited Courses: Students do not earn any academic credits for audited courses. They do not count in the calculation of “attempted hours.”

Pass/Fail Courses: These hours do count within the total of attempted and earned hours.

Change in Majors: Students who change their majors will normally be expected to complete all degree requirements before reaching 180 attempted hours (150% of normal program completion.)

Reviewing SAP:

Students meeting all minimum SAP standards are packaged for the full academic year. Students not meeting all minimum standards are subject to financial aid probation or loss of financial aid eligibility.

Financial Aid Warning:

There is a minimal amount of time between the time when final fall grades must be posted and the start of spring semester. There is even less time between the time when final summer grades may be posted and the start of fall semester. Students incur a financial liability to the University as soon as the semester begins. Therefore, under most circumstances, we believe it would be unfair to retroactively remove a student’s aid once the semester begins. Iona University reviews SAP annually, and, therefore, cannot utilize a Financial Aid Warning.

Financial Aid Probation:

If the student has not reached the maximum number of scheduled hours and the Financial Aid Appeals Committee determines that the student has fallen below the completion ratio standards for satisfactory progress, the student will be placed on Financial Aid Probation and notified that his/her continued eligibility for federal financial aid assistance is in jeopardy. Students who fail to maintain the required minimum GPA will also be placed on financial aid probation. Students will normally be allowed only one probationary semester during their academic program. If the student on financial aid probation meets the terms of the probation, he/she will be permitted to continue to participate in the federal student aid programs for a subsequent semester. Students who have been placed on probation shall be considered to be making satisfactory academic progress for the purposes of receiving financial aid as long as the student continues to meet the academic requirements of SAP.

The Student Financial Services Office will review the records of students who are on financial aid probation at the end of each semester. If the student does not meet the terms of the probation, the student will forfeit eligibility for all federal financial aid programs.

Loss of eligibility due to lack of satisfactory progress:

A student who has lost eligibility to participate in federal student aid programs for reasons of academic progress can regain that eligibility only by enrolling at Iona University at their own expense and demonstrating that they are capable of completing a semester without any failures, incompletes or withdrawals and showing the ability to complete his degree requirements in a more regular fashion. Students who have been academically dismissed from the University but who are subsequently given permission to re-enroll are not automatically eligible to continue to participate in federal, state, or institutional aid programs. Admissions decisions are totally separate from funding decisions.

Right to Appeal:

Students have the right to appeal any decision of ineligibility to continue to receive financial assistance. Appeals must be filed within 30 days of notification that aid eligibility has been lost OR 30 days after a semester begins (whichever comes first). An Appeal must be made in writing to the Director of Financial Aid by completing the Satisfactory Academic Progress Request for Review and submitting it, along, with all required statements and documentation. The appeal may not be based upon your need for the assistance OR your lack of knowledge that your assistance was in jeopardy. An appeal would normally be based upon some unusual situation or condition which prevented you from passing more of your courses, or which necessitated that you withdraw from classes. Examples of possible situations include documented serious illness, severe injury, or death of a family member.

If you do not have grounds for an appeal, or if your appeal is denied, you may still be able to regain your eligibility for future semesters. This is done by enrolling at Iona University at your own expense - without financial assistance - and by regaining the Qualitative and Quantitative standards listed above.

Appeal Approval Conditions:

Appeals can only be approved if the Financial Aid Appeals Committee determines that the student will be able to meet the University’s satisfactory academic progress after the next payment period.

If an appeal is granted:

Students whose appeals are granted will receive aid on a conditional basis for one semester. The Financial Aid Appeals Committee will review the student’s record at the end of the semester to determine his/her status for the following semester. Students who fail to meet the Satisfactory Academic Progress Standards will not be eligible to submit a subsequent appeal.

New York State Financial Aid

All undergraduate students receiving TAP must fulfill academic requirements for BOTH:

a.        minimum academic standards; and

b.        pursuit of program.

Minimum Academic Standards for all New York State Programs

Semester Programs

* Applicable to students in a 4-yr. degree program.

Trimester Programs

Pursuit of Program

Program pursuit must be determined independently from satisfactory academic progress. Satisfactory program pursuit is defined as receiving a passing or failing grade in a certain percentage of a full-time course load in each term for which an award is received. The percentage increases from 50 percent of the minimum full-time course load in each term of study in the first year for which an award is received to 75 percent of the minimum full-time course load in each term of study in the second year for which an award is received, to 100 percent of the minimum full-time course load in each term thereafter.

Repeating a Course

If a student repeats a course for which previous credit has been earned, it is not counted as part of a full-time load for TAP purposes or as part of the required part-time load for APTS unless required by curriculum.

Number of Payments

For half-time accelerated summer term payments, the above percentages are applied to the minimum half-time requirement (6 credits on a semester calendar) to determine pursuit of program requirements.

Students who had been in good academic standing for prior semesters but failed to meet satisfactory progress and/or pursuit of program standards for the last term may be granted a one-time waiver. This waiver is intended only to accommodate extraordinary or unusual cases and is not automatic. Circumstances that would warrant waiver consideration are:

a.        death of a spouse or parent;

b.        divorce or separation of student or parent;

c.        illness that clearly prevented academic progress for the term in question; and

d.        other extraordinary or mitigating circumstances that clearly prevented academic progress for the term in question.

All waiver requests should be forwarded in writing by the student to the Registrar immediately after the student has been informed of ineligibility. All waiver requests will require full documentation which will include, but not necessarily be limited to, oral/written testimony from parents, teachers, academic advisers, or medical personnel. Students requesting a waiver will be notified in writing of the decision within two weeks after all documentation has been received and evaluated.

Following a determination that the recipient has lost good academic standing, further payments under the program shall be suspended until the student is restored to good academic standing by either:

1.        pursuing the program of study in which he/she is enrolled and making satisfactory progress toward the completion of the program’s academic requirements for a period of one term; or

2.        establishing in some other way, to the satisfaction of the commissioner, evidence of his/her ability to successfully complete an approved program.

A STUDENT CAN RECEIVE ONLY ONE WAIVER.