The purpose of this procedure is to provide guidelines on awarding financial aid packages to students who need them.

Scope

This is an administrative policy, affecting students and administrative staff of the University.

Referenced Laws, Regulations, and/or Policies 

This is the University procedure to comply with the University’s Financial Aid policy.

Procedures

The University’s need-based financial aid is offered to students who show the need for financial assistance to attend the University. Financial need is determined by the difference between tuition aid and the expected contribution from the family as well as the student. The family contribution consideration includes family members’ income, assets, the number of dependents, and the sibling’s educational expenses.

Determine Students’ Financial Needs

The University uses the Apply application portal, in which admitted students can furnish financial aid information. To receive financial aid, a student must be enrolled in the University full-time either for AA or BA. The financial aid determination is aided through the affidavit of financial status from the applicant’s referees who are not blood-related. The Parami University team may reach out to these individuals separately to verify the submitted information. Making false or misleading statements on the financial aid forms in the portal is grounds for disqualification of applicants’ application into the University, even if a student has been admitted. 

Maintenance of Financial Aid

If students fail to meet the Satisfactory Academic Progress (SAP) – cumulative GPA of 2.0, they may lose their financial aid. In addition, if students have been sanctioned by probation, or suspension, they may lose financial aid, depending on the seriousness and nature of the violation. Please refer to the Student Probation, Suspension, and Expulsion procedure.

Review

The Office of Admissions and Student Affairs is responsible for ensuring compliance with this procedure in various offices of the University.

Date

Adopted on January 31, 2022.

Amended on January 13, 2023; Effective Immediately