Student Financial Aid

The cost of financing a college education is an important consideration for both students and parents. A Canisius University education is affordable and can be made financially possible through the many types of financial assistance administered by the Student Records and Financial Services Center. The staff of this office is available to help both students and parents plan for the financing of a Canisius education.

Students seeking federal and state financial assistance or institutional funds must complete the Free Application for Federal Student Aid (FAFSA).

The FAFSA may be obtained online at the FAFSA website and becomes available each year on October 1st for the next aid year. Returning students should complete their applications by April 15 for first-preference consideration. These dates are recommendations. However, students who do not meet these dates are urged to apply at any time for second consideration.

General Eligibility Requirements

To be considered for student financial aid, a student must:

  1. Study at an educational institution approved by the federal government. It may be located in New York, in another state, or in a foreign country.
  2. Be a U.S. citizen or eligible non-citizen.
  3. Be a resident of New York State for 12 months immediately preceding the first term for which the student is applying for aid (for New York State financial aid programs).
  4. Be in good academic standing and making satisfactory academic progress.
  5. Have no outstanding debt from a previous student loan default and must not owe a refund on any federal grant at any institution.
  6. Demonstrate financial need or meet individual program or scholarship requirements.

Estimated FRESHMEN Student Budget for the 2024-2025 Academic Year

Fee Commuter Resident
Tuition $ 32,200 $ 32,200
Fees 2,300 2,300
Books/Supplies 1,200 1,200
Housing & Food 2,200 13,560
Personal/Recreation 700 700
Transportation 800 800
Loan Fees 70 70
Total $ 39,470 $ 50,830

Repeating a Course

The repeating of a course may have an impact on a student’s financial aid. Once a student has received financial aid for a course for which they have obtained a passing grade, they may not receive New York State aid again for that course.

Therefore, students repeating a course in this instance should take care to enroll in enough credit hours in addition to the course to maintain their aid. For example: You are registered for 12 credits and 3 of those credits are for a repeated course. For New York State aid purposes (TAP, HEOP, Merit Scholarship, etc.) you are only taking 9 credits and are not eligible for state aid. You would need to register for 15 credits in order to keep your state financial aid.

Students repeating a failed course, or a course requiring a higher grade for your major requirement in order to graduate, may be able to receive aid for that repeated course.  Students should confer with a member of the financial aid staff for guidance.

Criteria for Student Financial Aid Consideration

In order to be considered for student financial aid, students must matriculate. That is, they must have satisfied the entrance requirements and be following a prescribed program of study toward a degree. Non-matriculated students are students who are not pursuing a degree at Canisius University, but have met the university's entrance requirements and have received the permission of the appropriate dean to take classes. Non-matriculated students are not eligible for financial aid.

Student Financial Aid awards are generally based on full-time attendance, which is at least 12 credit hours per academic semester. It is recommended that students contact the Student Records & Financial Services Center before reducing their academic load below 12 credit hours per semester in order to determine the effect on their financial aid. Students whose academic loads do fall below 12 hours per semester are required to contact the Student Records and Financial Services Center because it is very likely that the financial aid award will be affected. Certain aid programs are available to students who have enrolled part-time for at least six credit hours per semester. Students should contact the Student Records and Financial Services Center for further information.

Note: To receive financial aid, a student must remain “in Good Academic Standing.” For further information, the student should read the section entitled Satisfactory Academic Progress.

Other Information

Awards Notification

Freshmen applicants who submit all necessary forms by February 15 are notified by the Student Records and Financial Services Center by March 1, or before the May 1 Candidate Reply Date. Upperclassmen and graduate students who submit applications by April 15 receive award notices by July 1. Students submitting applications after April 15 are notified as soon as possible.

Over-Awards

Each year a number of financial aid recipients are “over-awarded.” As a result, checks are withheld, and, in some cases, students are billed for funds already disbursed. This problem arises because of the length of time needed to match funds from various institutional sources and/or outside agencies against the individual student’s record. To avoid this problem, students are urged to notify the Student Records & Financial Services Center promptly when they receive additional funds from any source not listed in their award letters, or when a student changes his/her enrollment status.

New York State Tuition Assistance Program

The Tuition Assistance Program (TAP) is a state-funded program for New York State residents. It may be used only at approved post-secondary institutions within New York State. Grants range from $1,000 to $5,665 a year, based on the family’s net taxable income for the previous year. There is no competition for this award. To be eligible, students must be full-time matriculated students who meet the standards stated below. Students may receive only eight semesters of TAP as undergraduates. However, students enrolled in approved five-year programs are eligible for 10 semesters of undergraduate TAP. At this time, only HEOP (Higher Education Opportunity Program) is such an approved program at Canisius University. The following table illustrates the amount of a TAP award at Canisius.

Families with NYS Net Taxable Income (NYSNTI) incomes in 2023 ranging from $0 to $125,000 will receive a TAP award ranging from $1,000 to $5,665.  Those whose NYSNTI is above $125,000 are ineligible.

Federal Financial Aid Programs

The FAFSA and all requested income verification forms are the required forms for the following programs administered and/or awarded by Canisius University.

Federal Pell Grant

The Federal Pell Grant Program was legislated by the federal government through the 1972 Education Amendments and was amended by the Higher Education Opportunity Act of 2008.

In order to be eligible for this grant, a student must be a U.S. citizen or a permanent resident alien. All full-time and part-time matriculating students should apply for this grant. Federal Pell grants range from $740 to $7,395 depending on the amount of funds appropriated by the federal government each year. Individual family circumstances and the cost of education at the college being attended are also taken into consideration. The Free Application for Federal Student Aid (FAFSA) is used to apply for the Federal Pell Grant Program. The FAFSA is available online at the FAFSA website.

Federal Pell Grant recipients are limited to the equivalent of six academic years of full-time study.

Federal Work-Study Program

The Federal Work-Study Program (FWS) is a federally funded program designed to offer students part-time employment while in school. It is available to both full-time and part-time (at least six hours) matriculating students. Students are employed on campus, ideally in work related to their academic and vocational goals. A student qualifying for Federal Work-Study employment may work between 1 and 20 hours a week during the academic year and up to 20 hours a week during the summer.

All job referrals are made by the Student Records and Financial Services Center.

Federal Supplemental Educational Opportunity Grant

The Federal Supplemental Educational Opportunity Grant (FSEOG) is a federally funded program administered by Canisius University and based on financial need. Recipients may be either full-time or part-time (at least six hours) matriculating students. At Canisius, grants range from $200 to $4,000 a year. This award is a grant, not a loan. FSEOG funds are limited. FSEOG will be awarded to students with exceptional financial need. Priority will be given to students who have the lowest expected family contributions and/or who are eligible for the Federal Pell Grant Program.

RETURN OF TITLE IV FUNDS

When a student applies for financial aid, the student agrees that financial aid funds will be used for educational purposes. Therefore, if a student withdraws before completing their program, a portion of the funds received may have to be returned. Canisius will calculate the amount of financial aid to be returned to Title IV programs according to the policies listed below.

Return to Title IV Policy

This policy applies to students who officially withdraw, unofficially withdraw, or are dismissed from enrollment at Canisius. It is separate and distinct from the Canisius credit balance refund policy. 

The calculated amount of the Return to Title IV (R2T4) funds that are required for the students affected by this policy are determined according to the following definitions and procedures as prescribed by regulations.

The amount of Title IV (Federal) aid earned is based on the amount of time a student spent in academic attendance and the total aid received.  It has no relationship to student’s incurred institutional charges. Because these requirements deal only with Title IV funds, the order of return of unearned funds do not include funds from sources other than the Title IV programs.

Title IV funds are awarded to the student under the assumption that they will attend school for the entire period for which the aid is awarded. When a student withdraws, they may no longer be eligible for the full amount of Title IV funds that they were originally scheduled to receive. Therefore, the amount of federal funds earned must be determined. If the amount disbursed is greater than the amount earned, unearned funds must be returned.

The institution has 45 calendar days from the date that the institution determines that the student withdrew to return all unearned funds for which it is responsible. The school is required to notify the student if they owe a repayment via written notice.

Eligibility for post withdrawal disbursements will be confirmed within 30 days of the date that the student withdrew. The school must advise the student or parent that they have 14 days from the date that the school sent the post withdrawal disbursement notification to accept a post withdrawal disbursement. If a response is not received from the student or parent within the allowed time frame or the student declines the funds, the school will return any earned funds that the school is holding to the Title IV programs.

Official Withdrawal from Canisius

A student is considered to be officially withdrawn on:

1.    The date the student provided official notification of intent to withdraw, in writing or orally; or

2.    The date the student began the withdrawal process from Canisius. A student may be allowed to rescind this notification in writing to the Canisius Student Records and Financial Services Department and continue their program.

Official dates and deadlines for withdrawing are specified in the Canisius academic calendar.

A student may withdraw from Canisius at any time from the first day of class to the official last day to withdraw as indicated in the Canisius academic calendar.

Students with financial aid who are withdrawing from Canisius are advised to complete the withdrawal form through the Griff Center for Student Success. For withdrawals processed after the drop add period outlined in the academic calendar, the grade of W is recorded for each course in which a withdrawn student was enrolled.

Students called to active military service during a term in which they are enrolled may be entitled to a refund of tuition and fees if they withdraw or the student may be entitled to receive a final grade or incomplete grade in courses. Active duty, Reserve or Veteran students with questions about this should contact Sierra Bonerb, Director of Support services to determine their options.

A student is considered a withdrawal from classes offered in a session of enrollment when the student ceases attendance at any point prior to completing the period of enrollment, unless the school obtains confirmation from the student at the time of withdrawal that the student will attend a session that begins later in the same period of enrollment. This confirmation must be obtained before the time of the withdrawal even if the student has registered for subsequent courses.

If a student receives Title IV grant or loan assistance and does not begin attendance in a period of enrollment, the student is considered to be ineligible for any Title IV aid.

Upon receipt of the official withdrawal information, Canisius will complete the following:

1.    Financial Aid verifies the student’s attendance through the withdrawal form.

2.    The Return to Title IV (R2T4) calculation is performed to determine the amount of federal funds the student has earned and the amount of unearned Federal funds for which the school and the student is responsible to return (if any).

                       a. Calculations are completed using the U.S. Department of Education’s Return to Title IV webpage, the student’s withdrawal date and are based upon the period of enrollment.

3.    FA will return the amount of any unearned portion of the Title IV funds for which the school is responsible within 45 calendar days of the date the student’s official withdrawal was determined.

4.    FA will provide the student with an email explaining any returns that have been made to the Title IV programs on the student’s behalf as a result of withdrawing.

a. Remaining unearned Title IV loan funds (e.g. Direct Loans) must be repaid by the student in accordance with the terms of the loans.

5.    If a student’s withdrawal date is more than 60 percent of the period of enrollment, they are considered to have earned 100 percent of the Federal funds received for the period of enrollment. In this case, no funds need to be returned and no letter will be sent from Financial Aid.

6.    A copy of the completed worksheet and notification letter will be kept in the student’s electronic file.

In the event a student decides to rescind their official notification to withdraw, the student must provide a signed and dated written statement that they are continuing their program of study and intend to complete the period of enrollment. Title IV assistance will continue as originally planned. If the student subsequently fails to attend without completing the period of enrollment, the student’s withdrawal date is the original date of notification of intent to withdraw.

Officially withdrawing from classes may affect the student’s future eligibility for financial aid due to Canisius’ Standards of Academic Progress policy and any R2T4 balances owed.

Unofficial Withdrawal from Canisius

Unofficial withdrawals encompass all other withdrawals where official notification is not provided to Canisius. If a student does not officially withdraw from a course and their instructors deem that they failed to complete the course an FX grade is assigned.  If a student has a combination of all FX and/or W grades, the institution must assume, for Title IV purposes, the student has unofficially withdrawn as they have not completed the enrollment period.

If a student receives Title IV grant or loan assistance and does not begin attendance in a period of enrollment, the student is considered to be ineligible for any Title IV aid.

When a recipient of Title IV aid unofficially withdraws from an institution, after having begun classes during a period of enrollment, the institution must determine the amount of Title IV grant or loan assistance that the student earned up to the date of withdrawal. For these unofficial withdrawals, the withdrawal date is the midpoint of the period of enrollment or the equivalent date for sessions of enrollment, as applicable

Once grades are final for a term, the following procedures will take place:

1.    Financial Aid will determine which students did not officially withdraw and failed to earn a grade in all of their courses offered over an entire period from a list provided by the registrar's office.

2.    Financial Aid will determine the withdrawal date.  The withdrawal date is the midpoint of the period of enrollment or the equivalent date for sessions of enrollment, as applicable.

3.    The Return to Title IV (R2T4) calculation is performed to determine the amount of federal funds the student has earned and the amount of unearned federal funds for which the school and the student is responsible to return, (if any).

 a. Calculations are completed using the U.S. Department of Education’s Return to Title IV webpage, the student’s withdrawal date and are based upon the period of enrollment.

4.    Financial Aid will return the amount of any unearned portion of the Title IV funds for which the school and the student is responsible within 45 calendar days of the date the official notice of withdrawal was determined.

a. Remaining unearned Title IV loan funds (e.g. Direct Loans) must be repaid by the student in accordance with the terms of the loans.

5.    If a student’s withdrawal date is more than 60 percent of the period of enrollment, they are considered to have earned 100 percent of the Federal funds received for the period of enrollment. In this case, no funds need to be returned and no letter will be sent from Financial Aid.

6.    A copy of the completed worksheet and notification letter will be kept in the student’s electronic file.

Unofficially withdrawing from classes may affect the student’s future eligibility for financial aid due to Canisius’ Standards of Academic Progress policy and any R2T4 balances owed.

Withdrawal Before 60 Percent Point of the Term

Canisius must perform a R2T4 calculation to determine the amount of earned aid up through the 60 percent point in each period of enrollment.

Withdrawal After 60 Percent Point of the Term

For a student who withdraws after the 60 percent point of the period of enrollment, they have earned 100 percent of the Title IV funds they were scheduled to receive during the period. There are no unearned funds. Canisius must still perform a R2T4 to determine the amount of aid that the student has earned and whether or not the student is eligible for a post withdrawal disbursement.

Order of Return

Canisius is authorized to return any excess funds after applying them to current outstanding charges. A copy of the Institutional R2T4 worksheet performed on the student’s behalf is available through Financial Aid upon request.

In accordance with Federal regulations, when Title IV aid is involved, the calculated amount of the R2T4 funds is returned in the following order:

  • Unsubsidized Direct Loans
  • Subsidized Direct Loans
  • Direct Plus Loans (Parent or Graduate)
  • Federal Pell Grant
  • Iraq Afghanistan Service Grant
  • Federal Supplemental Educational Opportunity Grant Program
  • Federal TEACH Grants

Post-Withdrawal Disbursement Conditions

If a student has accepted Title IV financial aid by the date of the withdrawal, but the financial aid has not disbursed, the student may be eligible for a post-withdrawal disbursement. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, they are eligible to receive a post-withdrawal disbursement for the earned aid that was not received. Under these circumstances, a R2T4 calculation must be performed to determine whether the student is actually eligible for a post-withdrawal disbursement. Canisius must make this determination within 30 calendar days after the student withdraws.

The following conditions apply when processing a post-withdrawal disbursement:

1.    A student may not owe a prior year balance or fail to meet Satisfactory Academic Progress according to Canisius policy.

2.    A student must have accepted aid by the date of the withdrawal.

3.    If, before the student’s withdrawal date a loan offer has been accepted, the loan must also have been originated by Canisius.

4.    In all Title IV loan programs, a master promissory note must be signed for a loan to be included as aid that could have been disbursed in an R2T4 calculation.

5.    If the student is eligible for a post-withdrawal disbursement of a loan, Financial Aid must send notification of post-withdrawal disbursement eligibility to students within 30 calendar days after the student withdraws. Students will be given a minimum of 14 calendar days to respond to the post-withdrawal disbursement offer.

6.    Canisius will disburse any Title IV grant funds a student is due as part of a post-withdrawal disbursement within 45 calendar days of the date Canisius determined the student withdrew and disburse any loan funds a student accepts by the post withdrawal disbursement deadline within 180 calendar days of the withdrawal date. The school must obtain written permission from the student before loan funds can be disbursed.

7.    A school cannot make a post-withdrawal disbursement to a deceased student or a student who has not signed the loan’s promissory note.

For students who provide notification back to Canisius that they want the loan funds prior to the post-withdrawal disbursement deadline, Financial Aid will disburse the loan.

Time Frame for the Return to Title IV Program Funds

The following rules apply when completing a return cal­culation for a student.

1.    Canisius will return any unearned Title IV funds within 45 calendar days of the date Canisius determined the student withdrew. Canisius will offer any post-withdrawal disbursement of loan funds within 30 calendar days of that date.

2.    Unless a student subject to verification has provided all required verification documents in time for Canisius to meet the return deadlines, Canisius includes as aid disbursed or aid that could have been disbursed in the return calcula­tion.

3.    If it is determined that a student who failed to provide all required verification documents in time for Canisius to meet the return deadline and later provides those documents prior to the applicable verifica­tion deadline, Canisius will perform a new return calcula­tion on all of the aid the student qualified for based on the completed verification documents and make the appropriate adjustments.

4.    To give a Pell Grant to a student, Canisius must have a valid output document (one with an official Expected Family Contribution or Student Aid Index computed from correct data) while the student is still enrolled for the award year or in the time frame the student qualifies for a late disbursement.

Time Frame for the Return of an Unclaimed Title IV Credit Balance

  1. In the event Canisius cannot locate the student (or parent) to whom a Title IV credit balance must be paid, Student Accounts will notify Financial Aid of any unclaimed credit balances that need to be returned to Title IV programs. Financial Aid must return the funds no later than 240 calendar days after the date the school issued the check, or 45 calendar days after the EFT was rejected.

Merit Scholarships

Canisius University funds renewable scholarships for incoming 2024-2025 freshmen which range from $7,000 to $20,000 for the 2024-2025 school year.  Among the scholarships awarded are the Ignatian Scholarships, the Trustee’s Scholarships, the Peter Canisius Scholarship, the Magis Scholarship, the Dean’s Academic Scholarships, and the Benefactor’s Scholarships.

These scholarships are awarded on the basis of high school records. A separate scholarship application is not required. In order to be eligible for one of these scholarships, a student must be accepted for admission to Canisius University.  Freshmen who are offered these scholarships are required to maintain a 2.0 cumulative GPA at the college to retain their scholarship aid. Ignatian Scholarship recipients must maintain a 3.0 cumulative GPA. All applicants are encouraged to apply for financial aid.

Martin Luther King Scholarships

The purpose of the Martin Luther King Scholarship Program is to provide assistance to students who aspire to the goals of Dr. Martin Luther King. Recipients are awarded for $1,000 per year for 4 years of full-time study. Applicants must be accepted for admissions and submit a separate application, essay and letters of recommendation by the deadline.

Other Programs

Higher Education Opportunity Program

The Higher Education Opportunity Program (HEOP) is a New York State education program. The purpose of this program is to assist academically under-prepared and financially disadvantaged students. In order to qualify, students must meet specific criteria in each of these areas.

Army ROTC Scholarship Program

The purpose of the Army ROTC Scholarship Program is to assist outstanding students in paying for their college education while they complete requirements for a commission in the U.S. Army Reserves, the National Guard, or the United States Army. High school students interested in the four-year scholarship should contact their high school guidance counselors or the Professor of Military Science at Canisius University. Students may also apply on the Internet at www.goarmy.com/rotc.html. The application deadline is February of the student’s senior year in high school.

Three- and two-year scholarships are also available to Canisius University students. Students should meet with the Army ROTC Enrollment Officer for details on how to compete for scholarships.  This should be done at the beginning of each semester.

The scholarship covers tuition and mandatory fees. All qualifying students will also receive a flat rate of $500 for books, and a subsistence allowance ranging from $300-$500 per month for the length of the scholarship, based on the grade year.

Canisius University also provides a grant to assist resident ROTC Scholarship recipients with their room and board costs.

Endowed Scholarships

Endowed scholarships are permanently invested funds that provide a perpetual source of scholarship assistance to deserving students. These are made possible by founded gifts, which yield an annual income sufficient to defray, in whole or in part, the tuition and fees of the student.

The annual income from endowed scholarships partially finances the scholarship program of Canisius University according to the wishes of the donors.

Education Loans

A loan is money the student borrows. It must be paid back. A loan is a serious obligation. Students should borrow only what they need. Education loans are for tuition and fees, housing and food, books, transportation and personal expenses.

An education loan cannot exceed the student’s total educational costs minus other student financial aid and, if required, a family contribution. Education loans have lower interest rates than most other types of loans.

The Federal Direct Loan Program loans offered at Canisius University include:

  • Federal Direct Student Loans (subsidized & unsubsidized)
  • Federal Parent Loans for Students (Federal PLUS)

Federal Direct Student Loans

Federal Direct Student Loans are available to undergraduate students with demonstrated financial need. The maximum loan amounts available to undergraduates are as follows:

First Year $3,500 each year
Second Year $4,500 each year
Third, Fourth & Fifth Years + $5,500 each year

Note: In addition, students may borrow an additional $2,000 in unsubsidized loan funds each year. Students are required to pay interest on this loan while they are attending school.

The total undergraduate Federal Direct amount (both subsidized and unsubsidized combined) cannot exceed $31,000.

Independent undergraduates may borrow up to an additional $4000 for their first and second years and $5000 for their third, fourth, and if necessary fifth year of study through the Federal Direct Unsubsidized Loan Program. Students are required to pay interest on this loan while they are in school. The total undergraduate Federal Direct Loan amount for independent students (both subsidized and unsubsidized) cannot exceed $57,500.

How to Get a Loan

Three factors must be considered to determine Federal Direct Loan eligibility: educational costs, other financial aid the student will receive, and the expected family contribution as determined through an approved needs-analysis system. Therefore, all students must submit a FAFSA before the Federal Direct Loan can be processed. A loan is usually for a single academic year. An online entrance interview must be completed before the loan is disbursed. Prior to graduation or withdrawal, the student must complete an online exit interview. The purpose of these interviews is to explain the rights and responsibilities, including repayment obligations.

The school must report these figures to the federal loan processor and certify the student’s enrollment status. Borrowers are required to complete an electronic Master Promissory Note (e-MPN). Information about the e-MPN and instructions for submission may be accessed at the Federal Student Aid website.

Paying Back a Loan

The student is responsible for:

  1. Repayment of the amount borrowed;
  2. Interest on the amount borrowed;
  3. Fees paid at the time he/she receives the loan check.

When a student gets a loan, the terms of repayment are explained. Students must be sure that they understand all repayment terms before signing the loan’s promissory note. If the student fails to meet these terms, he/she is in default and the entire balance of the loan becomes due.

Costs

The interest rate for all Federal Direct Loans on which the first disbursement is made on or after July 1, 2024 (regardless of any previous loan history) will be the current fixed rate of 6.53%. For Subsidized loans, there are no interest payments while the student is in school. Students who borrow through the Unsubsidized Federal Direct Loan must begin to pay the interest while in school. An origination fee of 1.057% of the amount borrowed may be charged. The fees are removed from the loan amount at the time the loan is issued.

Federal Direct Parent Loans for Undergraduate Students (Federal Direct Plus)

These loans are for parents of financially dependent undergraduate students. Parents may borrow up to the cost of attendance minus financial aid per year per child. A student should apply for a Federal Direct Loan before the parent applies for Federal Direct PLUS. PLUS Loans may be applied for at www.studentaid.gov.

Costs

The interest rate for PLUS loans on which the first disbursement is made on or after July 1, 2024 will be the current fixed rate of 9.08%. Interest begins at the time of disbursement. An origination fee of up to 4.228% of the amount borrowed. The fees are removed from the loan amount at the time that the loan is issued.

Repayment

Repayment of the amount borrowed plus interest begins 60 days after the loan is fully disbursed. The minimum monthly payment is $50. Repayment must be completed within 5-10 years depending on how much the parent borrowed. Interest accrues immediately and repayment begins within 60 days of disbursement. However, parents may request an in-school deferment from the federal government if they wish. Repayment would then begin at graduation or separation from school.

Other Financing Options

The following options are available to assist students and their parents in financing a Canisius education:

1. Griffin Tuition Payment Plan: This plan allows parents to budget tuition payments over a full academic year. A semesterly fee of $50 is charged. Further information is available at the Student Records and Financial Services Center.

2. Canisius University Installment Payment Plan: A student who is unable to pay his/her semester bill in full by the due date may pay the balance in monthly payments by signing a two-payment installment plan. Installment plans are subject to an administrative fee of $50. A 5 percent penalty fee on the total unpaid balance will be added if the plan remains unpaid after the due date.

Financial Aid Check List

To be evaluated for possible financial aid, the student must submit the following forms each academic year:

  1. Free Application for Federal Student Aid (FAFSA) and a TAP application. The FAFSA is available online at www.studentaid.gov. The TAP application is available to New York State residents as a direct link when they file the FAFSA online or by visiting the NYS TAP site at www.hesc.ny.gov.
  2. If requested, Federal Income Tax 1040 Form transcripts (parents and student) for the appropriate calendar year when necessary or other requested verification of income including child support. These items should be returned to the Student Records and Financial Services Center. Students are reminded that financial aid awarded for the freshman year or any other year does not guarantee aid for the following year. Students must re-apply for financial assistance each year.

Financial Assistance Information for Students

Section 485 of the Education Amendments of 1998 legislates that institutions participating in Title IV Student Aid Programs shall provide prospective and enrolled students with information about student aid at their respective institutions.

Canisius University has a Student Financial Aid Policy and Procedures Manual which is updated periodically. This manual describes the following:

  1. Institutional, federal, and state student aid programs available at Canisius;
  2. Procedures for awarding student aid at Canisius;
  3. Application processes and deadline dates for the various student aid programs;
  4. Student rights and responsibilities under the appropriate student aid programs;
  5. Appropriate budgets, outlining an estimated cost of attendance, which includes tuition, fees, books and supplies, room and board on campus and other related costs;
  6. Institutional refund policy; and
  7. Academic standards needed to retain financial eligibility.

The Student Records and Financial Services Center (Science Hall 3rd Floor) will provide the above financial aid information upon request. Information pertaining to academic programs, special services available to the handicapped and institutional accreditation is explained elsewhere in the university catalog.

Satisfactory Academic Progress - Title IV Federal Financial Aid

The U.S. Department of Education provides baseline criteria for financial aid offices to use in developing policies to govern all Title IV Federal Financial Aid funding.  Title IV Federal Financial Aid programs include Pell, SEOG, Federal Work-Study, TEACH and Direct Loans.  Recipients of Title IV Federal Financial Aid will be reviewed on both a qualitative (GPA) and a quantitative (percentage of coursework completed) at the end of every semester to ensure that they are making sufficient progress toward degree completion.  Withdrawing from classes may result in a failure to meet the quantitative requirement.

Meeting the Federal Title IV Quantitative Requirement

The quantitative requirement measures completed credits over attempted credits in a given term and is based on a student’s enrollment status at the end of the drop/add week at the start of each semester.  All students must complete at least 67% of the coursework that they attempt in a given term.

Meeting the Federal Title IV Qualitative Requirement

The qualitative requirement measures cumulative GPA (CGPA).  All students must maintain a CGPA of 2.0 or greater at the end of their sophomore year.

Maximum Time Frame

Federal regulations also monitor “maximum time frame”, which requires all students to complete their degree program within 150% of the published program length.  As an example, students enrolled in an undergraduate program that requires 120 credit hours earned to graduate are eligible to receive Title IV aid for no more than 180 credits.  Once a student has reached “maximum time frame”, they will automatically lose eligibility for Federal Title IV aid without the option to appeal.

Grace Period and Loss of Title IV Aid

After the first term during which a student does not meet any (or all) of the satisfactory academic progress requirements, the student will be placed on a one-semester warning.  During this warning period, the student can remain eligible for Title IV funding, but it is the responsibility of the student to regain eligibility.  At the end of that subsequent semester of enrollment, the student’s academic progress will again be evaluated.  If the student has again failed to meet any (or all) of the satisfactory academic progress requirements, they will lose eligibility for Title IV aid with the option to appeal.  If circumstances warrant, a waiver may be granted by Canisius.  Students will be notified via their Canisius email when they have failed to make satisfactory academic progress.  A student will regain Title IV eligibility once they are in good standing for both the qualitative and quantitative SAP requirements.  They will be notified via their Canisius email.

Appeals and Waivers

Students may appeal a satisfactory academic progress loss by completing and submitting a written appeal to the Student Records and Financial Services Center.  Appeals are intended only to accommodate extraordinary or unusual cases that have affected a student’s academic performance and must be submitted with appropriate documentation.  If an appeal is approved, a probationary waiver is granted, which may include specific conditions for the student to meet in order to regain eligibility for Title IV aid.  If those conditions are not met after the student’s next semester of enrollment, the student will lose Title IV eligibility without the option to appeal. The student will be notified of the status of their appeal via their Canisius Email before the beginning of the next term or within 21 days of their appeal. 

Appeals may be granted if situations beyond the students control prevent the student from maintaining satisfactory academic progress.  An appeal will be granted only when there is a reasonable expectation that the student will be able to meet the successive steps for financial aid eligibility as specified in the tables below.  Reasons for which appeals may be granted include:

  1. Personal medical problems
  2. Family medical problems
  3. Severe personal problems
  4. Other circumstances beyond the control of the student

Successful Completion of Courses

To be counted as successfully completed and earned hours, the student must receive a grade of A, B, C, D, P or XP.  Withdrawals (W), incompletes (I/IP), or failures (U, NG, F, FX or X) are counted as attempted hours but are NOT counted as successfully completed and earned hours.

Incomplete Grades

If a student can convert an incomplete grade into a complete grade before the start of the third week of classes of their subsequent semester of enrollment, the grade and credit hours can be counted in determining the student’s academic progress.  The student must submit proof of grade completion to the financial aid office in advance of this deadline in order to be considered.  Federal regulations stipulate that if the student does not convert the incomplete grade in advance of the end of the third week of their next semester of enrollment, the student is not making satisfactory academic progress, even if the grade is replaced at some point thereafter.

Transfer of Credit from Other Schools

Transfer credit that is awarded from other schools will be included in both the attempted hours and the earned hours when evaluating the quantitative and maximum time frame measurement of the SAP policy.  Transfer credits do not count in the GPA (qualitative) measurement.  A student that brought in 12 transfer credits and has passed 15 of 25 credits at Canisius will be at a 73% quantitative measurement and therefore be passing the SAP requirement 67%.

Remedial Coursework

Canisius does not currently have any courses that qualify as remedial.

Repeating Coursework

Students who are dissatisfied with their grade in a course may repeat the course once (exceptions may be approved by the appropriate associate dean in consultation with the department chair). When a student repeats a course, the original course and credits are excluded E from the earned credits/GPA and the new course in included.  The class will be included in attempted hours but only the class that is passed will be included in earned hours.  Thus, affecting the quantitative calculation but not the qualitative.

Academic Forgiveness

Students can apply for the Academic Forgiveness program at Canisius University. Academic Forgiveness can be given to students who have left the College for a specific period or to students while they are enrolled at Canisius.  Because State and Federal regulations prohibit students from benefiting from Academic Forgiveness programs in regards to Title IV and State Aid, Financial Aid will need to continue to evaluate Title IV and State eligibility using the students' original record. 

Academic Reset

Academic reset relates to undergraduate students who are changing their majors, or previously undeclared students who are now declaring a major. These students may petition the associate dean for academic forgiveness for up to five (5) courses taken in the two semesters previous to the request. Only courses in which the student earned a grade of C-, D, F, or FX are eligible for forgiveness. The associate dean will consult with the department chair of the new major to consider the request. If approved, the associate dean will notify the Student Records and Financial Services Center that the student has been approved for academic forgiveness, listing the courses affected by the approval.

  • Courses with a failing grade which have been forgiven will remain on the student’s academic transcript with a grade of “X” listed to indicate that the course is part of the academic forgiveness policy and not included in the calculation of the grade point average.
  • Courses with a C- or D grade which have been forgiven will remain on the student’s academic transcript with a grade of “XP” listed to indicate that the course is part of the academic forgiveness policy and not included in the calculation of the grade point average. Credit hours are earned with a grade of XP. 
  • Courses involved in an academic reset will not count into the GPA measure of SAP but, will count in the percentage of completion and maximum time frame calculation of SAP.

Federal Chart

The following chart explains the requirements for eligibility for Federal financial aid (Pell, FSEOG, FWS, Teach Grants and Federal Direct loan). Students must successfully earn 66.7% of their overall attempted credit hours. 

IN ORDER TO RECEIVED AID FOR SEMESTER CUMULATIVE GPA
1st 0
2nd 1.0
3rd 1.25
4th 1.5
5th 2.0
6th 2.0
7th 2.0
8th 2.0
9th 2.0
10th 2.0
11th 2.0
12th 2.0

Satisfactory Academic Progress – State Aid

The following charts explain eligibility for state financial aid (TAP, APTS). Standards of Satisfactory Academic Progress (SAP) must be evaluated after every semester for the purpose of determining eligibility.

Semester 2010-2011 and thereafter (Non-remedial students)

Before being certified for aid for this semester: A student must have accrued at least this many graded credits: With at least this Cumulative Quality Point Average:
1st - 0 TAP points earned 0 0
2nd - 6 TAP points earned 6 1.5
3rd - 12 TAP points earned 15 1.8
4th - 18 TAP points earned 27 1.8
5th - 24 TAP points earned 39 2.0
6th - 30 TAP points earned 51 2.0
7th - 36 TAP points earned 66 2.0
8th - 42 TAP points earned 81 2.0

Semesters prior to 2010-2011 and remedial students

Before being certified for aid for this semester: A student must have accrued at least this many graded credits: With at least this Cumulative Quality Point Average:
1st - 0 TAP points earned 0 0
2nd - 6 TAP points earned 3 1.1
3rd - 12 TAP points earned 9 1.2
4th - 18 TAP points earned 21 1.3
5th - 24 TAP points earned 33 2.0
6th - 30 TAP points earned 45 2.0
7th - 36 TAP points earned 60 2.0
8th - 42 TAP points earned 75 2.0
9th - 48 TAP points earned 90 2.0

Semesters 2010-2011 and thereafter Associate Programs

Before being certified for aid for this semester: A student must have accrued at least this many graded credits: With at least this Cumulative Quality Point Average:
1st - 0 TAP points earned 0 0
2nd - 6 TAP points earned 6 1.3
3rd - 12 TAP points earned 15 1.5
4th - 18 TAP points earned 27 1.8
5th - 24 TAP points earned 39 2.0
6th - 30 TAP points earned 51 2.0

In addition, students must meet program pursuit regulations, which require that during the first two semesters of TAP, an individual must complete at least 6 credit hours per semester, at least 9 credits hours per semester for the 3rd and 4th semesters, and at least 12 credits for the 5th and all succeeding semesters.

For students in non-traditional undergraduate programs offered in standard terms students may receive a third payment of TAP in a calendar year, which New York State refers to as an accelerated award payment. Along with meeting the criteria listed in the above charts, in order to receive an accelerated award payment a student must be enrolled in a full-time semester after receiving TAP in the two previous full-time semesters in a calendar year. The student must also have earned 24 credit hours in the prior two semesters in order to receive the accelerated TAP payment.  Note: Transfer credits do not apply to the 24-credit hour requirement.

TAP Waivers

Students may appeal a TAP satisfactory academic progress loss by completing and submitting a written appeal to the Student Records and Financial Services Center.  Appeals are intended only to accommodate extraordinary or unusual cases that have affected a student’s academic performance and must be submitted with appropriate documentation.  If an appeal is approved, a waiver is granted, which may include specific conditions for the student to meet in order to regain eligibility for State aid.  If those conditions are not met after the student’s next semester of enrollment, the student will not be certified for State aid, without the option to appeal. The student will be notified of the status of their appeal via their Canisius Email before the beginning of the next term or within 21 days of their appeal. 

Appeals may be granted if situations beyond the students control prevent the student from maintaining satisfactory academic progress or program pursuit.  An appeal will be granted only when there is a reasonable expectation that the student will be able to meet the successive steps for financial aid eligibility as specified in the tables below.  Reasons for which appeals may be granted include:

  1. Personal medical problems
  2. Family medical problems
  3. Severe personal problems
  4. Other circumstances beyond the control of the student

Satisfactory Academic Progress – Canisius University Merit and Need Based Aid

Canisius students are awarded merit and need based awards when they enter Canisius for the first-time.  These awards are based on many different factors ranging from academic performance in high school or a previous college, filling out a FAFSA, a Canisius income estimator and so on.  Students need to maintain a 2.0 overall GPA after their second semester to be eligible for their merit based Canisius awards.  The Ignatian scholarship is awarded to exceptional first-time freshman entering Canisius.  Ignatian scholarship recipients must maintain a 3.0 overall GPA to remain eligible for the scholarship.  If these students do not have a 3.0 overall GPA after their second semester, the Ignatian scholarship will turn into the equivalent of the Peter Canisius Scholarship, which is $2,000 less than the Ignatian.  The student will then need to keep a 2.0 GPA.

Students can regain eligibility for their merit and need based awards as they return to an overall 2.0 GPA.  Once an Ignatian level student loses eligibility they cannot regain eligibility.  The loss of Merit and Need Based aid can only be appealed in conjunction with Title IV aid.  If a student does not receive Title IV aid, then they may appeal the same way a Title IV eligible student would (see above).

Satisfactory Academic Progress – Canisius University Endowed Aid

Canisius students may be awarded grants and scholarships from The Canisius Endowment.  Endowed scholarships are generally gifted from Alumni, Businesses and friends of the College.  Endowed scholarships are awarded in accordance with the wishes of the donors and are therefore not subject to Title IV or State rules regarding SAP. While the student remains in good standing or on academic probation, they will be eligible for endowed aid as long as the stipulations of the donor are met.  To find out more about academic standing, please visit the Canisius University academic catalog.

Summer School

Students who lose eligibility for financial aid at the end of an academic year can sometimes make up the deficiency by attending summer school at their own expense. The Student Records and Financial Services Center should be consulted regarding the student’s intention to do so and should be supplied with a transcript of grades after the completion of courses. Only courses taken at Canisius will affect a student’s grade point average. Summer courses will not resolve a student’s unsatisfactory pursuit.