Student Financial Support Policy - May 15, 2014

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STUDENT FINANCIAL SUPPORT POLICY

Policy Type: Academic

Initially

Approved:

October 7,

1997

Policy

Sponsor:

Provost and Vice-

President, Academic

Last

Revised:

May 15, 2014

Primary

Contact:

Vice Provost & AVP

Students

Review

Scheduled:

April 2018

Approver:

General Faculties Council

PURPOSE

To outline the principles and procedures for supporting students through the Mount Royal

University Student Financial Aid Program.

SCOPE

This Policy applies to all Mount Royal University students and employees administering financial

aid.

POLICY STATEMENT

PRINCIPLES

1.1

To recognize and reward students' academic achievement.

1.2

To assist students who might not otherwise be able to finance their post-secondary

studies.

1.3

To further Mount Royal University's recruitment and retention objectives through

student financial support programs.

1.4

To ensure timely and optimal access for all Mount Royal University students to

student financial support programs.

AUTHORITY

2.1

It is the responsibility of the Provost and Vice-President, Academic to ensure this

Policy is implemented and maintained through the coordination of activities between

the offices of the Vice-Provost & AVP Students, Student Awards and Financial Aid,

and the Mount Royal Foundation.

2.2

The Office of Student Awards and Financial Aid is responsible for the administration

of all Scholarships, Bursaries and Awards associated with this Policy.

Student Financial Support Policy - May 15, 2014

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PROCEDURE PRINCIPLES

3.1

The closing date for applications for all Scholarships, Bursaries and Awards will be

established in a timely manner and communicated appropriately.

3.2

Unless otherwise specified by a donor agreement or institutional procedures, all

Scholarships, Bursaries and Awards are open to Canadian citizens and permanent

residents.

3.3

Unless otherwise specified by a donor agreement or institutional procedures,

international students are eligible for Entrance and In-course Scholarships,

Nominated Awards and emergency Bursaries

3.4

Mount Royal University may limit the overall amount of money awarded to a student

in any given academic year.

3.5

Students will be selected according to published Eligibility criteria.

3.6

When an eligible recipient cannot be identified for a specific Award, Mount Royal

University reserves the right to pool and distribute unawarded Scholarship, Bursary

or Award funds in the current fiscal year under criteria determined to meet the

Award’s objectives of the institution and the current needs of its students.

3.7

Mount Royal University will not award more money in any given academic year than

it earns from any source.

3.8

The Student Awards and Financial Aid office will set limits on the number of years a

student is eligible to receive a Scholarship or Award.

3.9

Eligibility criteria related to course load may vary for students receiving

accommodation for a disability.

3.10

Donors are not permitted to sit on selection committees for Scholarships, Bursaries

or Awards for which they have donated funds.

DEFINITIONS

(1)

Applied

Scholarships,

Bursaries or

Awards:

are based on an evaluation of information gathered through an

application process which may or may not include details of

academic achievement.

(2)

Awards:

are monetary and/or non-monetary awards that recognize a

student’s achievement in a course or program that is not

solely based on a GPA calculation or financial need.

(3)

Bursaries:

are monetary awards granted to students on the basis of

demonstrated financial need. Emergency bursaries are given

to students as a result of urgent, unforeseen circumstances

that result in immediate financial need.

(4)

Eligibility:

In the context of this Policy, clearly defines a specific group of

potential candidates for a Scholarship, Bursary or Award.

Student Financial Support Policy - May 15, 2014

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(5)

Entrance

Scholarships,

Bursaries or

Awards:

are for full- or part-time students entering their first year of a

certificate, diploma, applied degree, or degree program at

Mount Royal University.

(6)

Evaluation:

In the context of this Policy, is based on measurable criteria to

determine which eligible candidate receives a Scholarship,

Bursary or Award.

a. A student must have a minimum GPA of 3.20 or a

minimum high school average of 80% to receive a

Scholarship.

b. A student must demonstrate financial need to be eligible to

receive a Bursary.

c. A student must be in Good Academic Standing to receive

an Award.

(7)

Extracurricular

Activities:

May include but are not restricted to campus and/or

community involvement, demonstrated leadership and/or

outstanding athletic/artistic performance.

(8)

Financial Need:

is demonstrated by assessing the difference between a

student’s allowable expenses and their resources during a

specified period of time. Decisions are informed by guidelines

established by government financial aid programs.

(9)

Full-time

Scholarships,

Bursaries or

Awards:

are disbursed to students who have been full time in the Fall

and Winter semesters in the academic year of selection and

who are returning as full-time students for the following Fall

semester.

(10)

In-course

Scholarships,

Bursaries or

Awards:

are for full- or part-time students who were registered for the

Fall and Winter semesters in the immediate preceding year of

study and are currently enrolled in a Mount Royal University

certificate, diploma, applied degree or degree program.

(11)

Nominated

Scholarships or

Awards:

do not require a student to complete an application form.

(12)

Part-time

Scholarships,

Bursaries or

Awards:

Are disbursed to students who have been part time in both the

Fall and Winter semesters in the academic year of selection

and who are returning for the following Fall semester.

(13)

Scholarships:

are monetary awards granted to students on the basis of

academic achievement and, in some cases extracurricular

activities.

Student Financial Support Policy - May 15, 2014

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RELATED POLICIES

RELATED LEGISLATION

RELATED DOCUMENTS

REVISION HISTORY

Date

(mm/dd/yyyy)

Description of

Change

Sections

Person who

Entered Revision

(Position Title)

Person who

Authorized

Revision

(Position Title)

05/15/2014

Director, University

Secretariat

01/29/2020

Editorial

Template Update

Policy Specialist

University Secretary

02/11/2021

Editorial – title

changes

University Secretary University Secretary