FAST to FINISH Track

Current Renewal Students: 

There are major changes that may impact the award amounts that current Educational Assistance Grant and Guaranteed Access Grant Renewal Students may receive.




​What You Need to Know

Starting with the 2018-2019 academic year, these changes will be in effect for the renewal of your Educational Assistance (EA) Grant or Guaranteed Access (GA) Grant award (whichever is applicable):

1.  Recipients of the EA or GA awards must successfully complete at least 30 credits by the end of the second academic year of enrollment and each academic year thereafter.  This means that students who are eligible for either the EA or GA grant must complete at least 30 credits per academic year, beginning in their sophomore year and thereafter, in order to receive full eligibility.

2.  If a student successfully completed at least 24 credits but less than 30 credits at the end of the second academic year and thereafter, their awards for either the EA or GA program will be prorated.  For example, a student who earns 24 credits, may expect their $3,000 EA grant to be adjusted by calculating 24/30 x $3,000 for a total award of $2,400.

3.  Credits earned in the fall, spring, and summer semesters all count towards the 30 credits.  

4.  Award amounts for the first two academic years will not be affected by this change.  EA award amounts for the first two academic years may vary however awards will not be less than $400 or more than $3000.  Award amounts for GA recipients in the first two academic years will be equal to 100% of the student’s financial need, as determined by MHEC, or the established award maximum.    

   
5.  Award amounts will not be affected for students successfully completing 30 or more credits in the prior academic year.  Students that successfully complete 30 credits or more will receive the full award amount in EA or GA grant.  

6. While this new change does not take effect until the 2018-2019 school year, the decision to prorate an award will be based on the coursework that you complete during the 2017-2018 academic year. Therefore it is important that recipients of the EA or GA grant complete at least 30 credits by the end of their second academic year in order to receive the full amount of EA or GA award in the 2018-2019 academic year.

Remember: 30 Credits + MAX STATE AWARD = On-Time COMPLETION!​​


​Frequently Asked Questions (FAQ) 

How many credits must I successfully complete at the end of the second year to renew my award at the maximum award amount?

  Award recipients must successfully complete 30 credits to receive the maximum award amount in the subsequent year and thereafter. ​

How many years is my award renewable for at the completion of my second year of enrollment?

 

At the end of the students second year of enrollment the students is eligible for a renewal award for up to two years as long as the student successfully completes at least 24 credits but less than 30 credits. ​

If I complete at least 24 credits but less than 30 credits, will my award be adjusted?

 

Yes. Award recipients that successfully complete at least 24 credits but less than 30 credits will have their award adjusted based on the amount the student would have otherwise received multiplied by the ratio of the number of credits successfully completed divided by 30. ​

For example a student who earns 24 credits, may expect their $3,000 EA grant to be adjusted by calculating 24/30 x $3,000 for a total award of $2,400.  ​


What happens to my award if I do not earn at least 24 credit hours by the end of my second year?

 

If an award recipient fails to successfully complete 24 credit hours at the end of the second year the recipient then becomes ineligible for the award. ​

What semesters will MHEC review to determine the number of credits successfully completed?

 

MHEC will consider all credits successfully completed during the student’s sophomore year towards the successful completion of 30 credits.​

Will the awarding process in the third year and thereafter change?

 

Yes. When MHEC performs awarding to eligible renewal students in March award recipients will receive a tentative award amount at the maximum award level. Then, once the institution updates MHEC of the number of credits successfully completed by the student at the end of the Spring and or Summer semester the award will be revised as applicable to reflect the accurate award amount in alignment with the number of credits successfully completed at the end of the students’ second year and thereafter.

How is MHEC notified of the number of credits I successfully completed?

 

MHEC is notified of the number of credits that award recipients successfully completed at the end of their second year and thereafter once the institution uploads the credits in the MDCAPS system. 

Institutions must report the number of credits successfully completed for each award recipient at their respective institution at the end of the students’ second year and thereafter. 

Do all of my classes have to be taken at my home institution in order for the credits to count toward the completion requirement?

  No. Classes taken at another institution may count toward the credit completion requirement; however the courses taken at the other institution must be transferable toward your degree program requirements at your home institution. It is important that you first consult with your home institution to ensure that the courses at the other institution are transferable before registering at the visiting institution.

Is there an appeal process for students that may fall short of the credit hour requirement due to special circumstances?

  Yes. A student may appeal for not successfully completing 30 credit hours at the end of second academic year based on any of the following special circumstances: death of an immediate family member (student’s spouse, child, parent, guardian, grandparent, sibling) which prevents the student from meeting the credit requirement; serious illness of the student or immediate family member (student’s spouse, child, parent, guardian, grandparent, sibling) which prevents the student from meeting the credit completion requirement; student suffers from a medical disability; and or the student is unable to enroll for 12 or more credits per semester due to specific course activity such as an internship, practicum, or clinic as determined by the institution.​

Do Advanced Placement (AP) and dual credit classes in high school count toward the credit completion requirement?

  No. If a student enters into a post-secondary institution with AP/Dual enrollment credits and is declared a sophomore in their initial year of enrollment. The student is still required to complete two academic years of enrollment before the 30 credit hour requirement is enforced.​