For a majority of students who lost their financial aid after UB's policy change this year, a reprieve is in sight – for now.
On June 13, UB changed its financial aid policy, leaving an estimated 2,000 students without the option of financial aid. Estimates state that students lost $360,000 to $380,000 in aid due to the policy change.
The new financial aid policy makes it harder for students to be eligible for federal aid. Students now need a 70 percent completion rate, as opposed to the previous rate of 65 percent, and must have within 150 percent of the institution's required credits for graduation, which is 180 hours at UB.
Also, the calculated number of credits is now cumulative. Previously, only completed credits were taken into consideration for financial aid. Now incompletes, resignations, withdrawals and failures count against the student when calculations are made as to whether to award aid.
Photo: Courtesy of SUNY
