Sometimes, despite having gotten financial aid, a student will lose their financial aid, and these are the times when a student will have to seek financial aid reinstatement. A university or college will revoke a student’s financial aid for any of the following three reasons:
1. Because you dropped below the minimum number of credits per semester allotted by the school;
2. Because you dropped below the minimum grade point average (usually 2.0); or
3. Because you defaulted on past student loans.
Steps toward Financial Aid Reinstatement
Several steps must be followed if you want financial aid reinstatement. These steps will be the same regardless of the reason your aid was revoked.
a. Visit your financial aid office and ask why your aid was revoked in the first place. The first step to financial aid reinstatement is this visit. Ask them to give you the reason in writing, so that you can include it in the appeal letter.
b. Ask if there are other forms of financial aid available to you. The second step to financial aid reinstatement is to find out your other options. For example, are there any Pell grants, scholarships private loans, work-study programs, or fellowships available, which might help defray education costs?
c. Be ready to document your present financial situation. Your contact in the financial aid office may want you to explain any personal hardship you’ve experienced which accounts for the original revocation or should be taken into account when considering need. Be sure to provide the financial aid office with any tax returns, bank statements, monthly bills, or receipts they request.
d. Write a formal letter of appeal. The letter of appeal should be a concise and well written account of why you lost your financial aid in the first place, followed by any extenuating circumstances you want the appeals board to keep in mind. The appeals letter is important; consider asking a friend to look it over, or hire a freelance editor to improve it.
e. Be careful of your grades. This is especially true if your financial aid was revoked because you dropped below the minimum grade point average.
f. Keep up any loan payments. This is especially true if your financial aid was revoked because you defaulted on past student loans. If your financial aid was revoked because you defaulted on past loans, six months to a year of consistent repayment is usually enough to show the appeals board that you are ready for financial aid resinstatement.