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Official policies of St. Mary's University

Athletics: Financial Aid Regulations

Approver(s):

Executive Council

Authorizes release:

Chief of Staff for the President

Responsible office:

Athletics Office

Review cycle:

Annually or as required

Adopted:

January 2015

Last update:

October 2016

Next review:

June 2017

Related policies and additional references:

Financial Aid Appeal Committee; Athletics Department Manual

All coaches (head, assistant and graduate) will follow all rules and regulations regarding financial aid as defined in the NCAA Manual, Bylaw 15.

All student-athletes are “flagged” in our internal system, Oracle Fusion Middleware Forms Services, aka “Banner”, allowing St. Mary’s University (TX) Office of Financial Assistance to monitor, verify and approve all financial aid packages of all St. Mary’s University student-athletes.

The Director of Financial Assistance is the “Institutional Financial Aid Authority” in terms of NCAA legislation mandating financial aid related issues. Only with the approval of the Director of Financial Assistance are any financial aid related issues final. This includes, but is not limited to Initial Awards, Renewal Awards, Reduction of Awards, Cancellation of Awards, Non-renewal of Awards, Athletics Financial Aid Agreements, Appeal Procedures, Financial Aid Squad Lists, Definition of Countable Aid and Definition of Non-Countable Aid.

Team and individual limits, as defined by the NCAA, will be monitored continuously by Athletics Compliance Office in conjunction with the Office of Financial Assistance. Financial Aid Squad Lists will be completed annually by the Office of Financial Assistance in conjunction with St. Mary’s University Athletics Department authorities.

All notice of renewals, non-renewals and reduction of an athletic grant must be sent to all student-athletes who received an athletic grant by July 1 of the academic year in which they received the athletic grant.

The student-athlete’s athletics grant award is final for upcoming academic year, once the student-athlete has returned Athletics Financial Aid Agreement within seven (7) days of issuance date and/or athletics grant has been disbursed to student account. Should individual adjustments be necessary for billing or institutional financial aid regulation purposes, for a specific student-athlete, those adjustments must be approved by the Director of Financial Assistance. St. Mary’s University Policy does not permit athletic grants to be increased after the fourth week of the semester. If an increase to an athletics grant is needed after aforementioned date, approval for such increase must first be approved by Athletics Director (or his/her designee), must be permissible according to the rules and regulations per NCAA, and have the approval of the Director of Financial Assistance.

St. Mary’s University (TX) financial aid policy states that institutional financial aid can be applied toward the cost of tuition, fees, room and board (if living on campus) and books. Institutional aid, including athletics grants, according to Director of Financial Assistance, cannot be refunded. As a result of latter, institutional aid, including athletics grants cannot be used toward off-campus housing or books.

A student-athlete may receive his/her Pell grant as determined by the Office of Financial Assistance and in accordance with all federal law and institutional guidelines. The exact amount of the Pell award to be provided to a student-athlete must be approved by Athletics Department Authority and the Director of Financial Assistance.

Outside awards will not appear on student-athletes initial or renewal Athletic Financial Aid Agreement until it has been evaluated by Athletics Compliance Officer and Director of Financial Assistance. Should the outside grant not be athletic-based it will be included in the student-athletes’ financial aid “Award Package Letter”, issued by the Office of Financial Assistance. If the award is athletically-based it will be included with the athletic award being reduced by the amount.

All types of financial aid are defined by the NCAA as countable and non-countable. St. Mary’s University Athletics Department, in conjunction with Office of Financial Assistance, is required to follow these definitions in maintaining the individual and team limits.

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