Using MyHive to Manage Your Aid

MyHive is your personalized financial aid hub, offering 24/7 access to everything you need to manage your financial aid package.

Features of MyHive:

• Real-Time Access: View your financial aid details anytime from any device.
• Track Your Progress: Check the status of your financial aid application, including missing documents or incomplete tasks.
• Award Management: You can view, accept, or decline your financial aid awards, such as scholarships, grants, or loans.
• Loan Tracking: Review your student loan history, including disbursed amounts and repayment information.
• Document Uploads: Easily submit required forms and documents through the platform.

Step-by-Step Guide:

1. Log in to MyHive using your student credentials.
2. Navigate to the “Financial Aid” section.
3. Review your current award package, loan details, and any outstanding requirements.
4. Take action—accept awards, upload documents, or contact support with any questions.

Maintaining Your Financial Aid

Financial aid comes with specific academic and administrative requirements to ensure continued eligibility. Meeting these standards is crucial to keeping your scholarships, grants, and loans.

Satisfactory Academic Progress (SAP)

Federal regulations mandate that students meet Satisfactory Academic Progress (SAP) to remain eligible for aid. This is evaluated using three criteria:

1. Grade Point Average (GPA):
   • Undergraduate students must maintain a GPA based on earned credit hours (e.g., 2.00 for 90+ hours).
   • Graduate students are required to maintain a 3.00 GPA.
2. Course Completion Rate:
   • You must complete at least 67% of all attempted courses, including withdrawals and repeats.
3. Maximum Timeframe:
   • You must complete your degree within 150% of the required credit hours for your program (e.g., 186 credit hours for a 124-credit-hour program).

What Happens If You Don’t Meet SAP?

• Financial Aid Warning: If you fall below the required standards, you will be placed on a warning for one semester.
• Appeal Process: After the warning period, you can appeal to reinstate aid if extenuating circumstances impact your performance, such as illness or family emergencies.
• Probationary Status: If your appeal is approved, you will be placed on probation and evaluated at the end of the semester.

Key Deadlines

• Fall Appeals: Sept. 1
• Spring Appeals: Jan. 18

Understanding Withdrawals and Financial Aid

Withdrawing from classes or leaving the University before completing 60% of a semester can significantly impact your financial aid. Federal regulations require a recalculation of aid based on the days attended.

Impacts of Withdrawal:

• Return of Funds: Any unearned aid is returned to the U.S. Department of Education, and you may owe money to the University.
• Prorated Eligibility: Aid is recalculated based on the time you were enrolled, which could reduce the amount applied to your account.

Programs Affected by Withdrawals:

• Federal Direct Subsidized and Unsubsidized Loans
• Federal Pell Grants
• Federal SEOG
• Federal Parent PLUS Loans

Example Scenario: If you attend 30% of the semester, you are only eligible for 30% of your financial aid. The remaining 70% is considered unearned and must be returned.

Exit Counseling: Preparing for Loan Repayment

When you graduate, withdraw, or drop below half-time enrollment, federal regulations require you to complete Exit Counseling. This process helps you understand your rights and responsibilities as a borrower and prepares you for repayment.

What You’ll Learn:

1. Repayment Options: Explore strategies like income-driven repayment or loan consolidation.
2. Default Prevention: Learn how to avoid missing payments and the consequences of default.
3. Borrower Rights and Responsibilities: Understand how to manage your loans effectively.

How to Complete Exit Counseling

1. Log in to studentaid.gov.
2. Navigate to the “Exit Counseling” section.
3. Complete the guided modules to fulfill this requirement.

Important Financial Aid Deadlines