Financial Aid Terms and Conditions

The use of financial aid at Keystone College obligates you to the following:

  1. Keystone College awards financial aid to recipients on a non-discriminatory, equal opportunity basis.
  2. The FAFSA is required for all federal, Pennsylvania State grant, scholarship and Keystone College need-based aid programs. Eligibility for need-based programs is determined using the information supplied on the FAFSA and, if selected, through the verification process. In addition, award amounts are also influenced by your choice of enrollment and housing.
  3. Financial Aid packages are developed after first determining the Expected Family Contribution (EFC). Financial need (your financial aid eligibility) is calculated by subtracting the Expected Family Contribution (EFC) from the Student Cost of Attendance budget. Educational costs include all expenses a student may incur and consist of tuition, fees, living expenses, books and supplies, transportation, and personal expenses.
  4. The types of aid awarded will vary with the individual student’s need and may consist of a combination of grant, loan, and scholarship assistance and traditional Financial aid awards are for an academic year, with equal payments for the fall and spring terms. All forms of need-based aid must be reapplied for annually. Renewal of awards will be based on continued eligibility.
  5. All students must maintain satisfactory academic progress in order to remain eligible for financial aid. Aid may be cancelled due to lack of progress or maximum semesters of aid. Please review the Financial Aid Satisfactory Academic Progress Policy.
  6. A student will lose Financial Aid Title IV eligibility if a student is convicted of a state or federal offense involving the possession or sale of an illegal drug that occurred while the student was enrolled in school and receiving Title IV aid.
  7. If you receive an outside scholarship, your awards may be adjusted. It is your responsibility to provide scholarship information to the Financial Aid Office and adjustments may be made to the student’s award package to ensure all awards fit within the cost of attendance budget.
  8. Financial Aid recipients who plan to withdraw or who change their enrollment status must notify the Financial Aid Office. Your financial aid package will be reviewed and adjustments may be required.
  9. Direct Loan and PLUS Loan recipients must be enrolled on at least a half-time basis (6 credits per semester for under graduate).
  10. If you are awarded Work Study funds, it is not a guarantee of funds and funds will not be placed on your student business services account. It is the student’s responsibility to work the required number of hours in order to earn the money. A student is paid bi-weekly for the number of hours worked that time period.
  11. The Office of Financial Aid reserves the right to request verification of any data submitted by the applicant, the applicant’s parent(s), or the applicant’s spouse/partner. If the data is found to be incorrect, the data may be corrected and the award revised. If the applicant is determined ineligible for financial aid, the applicant’s award can be withdrawn. The applicant will then be responsible for payment of all expenses incurred at Keystone College.
  12. The college holds in strict confidence all family financial information and considers any financial aid package to be a confidential matter between the college and the student and the College abides by all laws with respect to The Family Educational Rights and Privacy Act (FERPA).
  13. Financial aid recipients must be matriculated and pursuing courses leading to a degree.
  14. Financial aid awards are processed on the basis enrollment and residency.  Any changes in enrollment status, such as number of credits, withdrawal, graduation, or completed requirements for bachelor’s degree, may result in reevaluation of the award(s).  The student may then become responsible for a balance should one be created due to change in status.
  15. Merit scholarships awarded by the office of admissions upon acceptance to Keystone College are renewed on an annual basis providing the GPA requirements for the respective scholarship is met.  Failure to meet the GPA requirements will result in a 25% reduction of the scholarship and the naming convention of the reduced award may change. 
  16. The institution, state, and federal government is absolved of any and all responsibility for funding in the event that a grant and/or a loan or any other financial assistance is based upon fraudulent, inaccurate or misleading information.