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Annual Financial Aid Professional Development
Philip Axelroth Interim Financial Aid Manager
PurposeProvide professional development on financial aid
in Arkansas in accordance with A.C.A § 6-5-405Three hour initial training; 1 hour annualApplies to: superintendents, asst.
superintendents, principals, asst. principals, and guidance counselors
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Academic Challenge Scholarship
It is our hope that the lottery funded scholarship known as the Arkansas Academic Challenge Scholarship will:--increase student success--reduce student loans--prepare more students for high wage high demand jobs benefit Arkansas’s economy--increase the percentage of adults in Arkansas that hold a college degree
Arkansas Academic Challenge Scholarship
Student categories• Traditional • Current Achiever• Nontraditional
General Eligibility Requirements
U.S. Citizen or Lawful Permanent ResidentArkansas ResidentAttend an eligible Arkansas InstitutionSatisfactory Academic StandingContinuing Eligibility Requirements
Academic Challenge Scholarship
First awarded for fall 2010 No Income RequirementAligned with Smart Core Expanded to include nontraditional
students
ACT Scores
Composite score from a single test dateNo combined, blended, or “super” scoresMay substitute a comparable score from
SAT, COMPASS or ASSET testsIf qualifying without SMART Core
completion, may substitute proficient score on all state mandated end-of course exams
Traditional StudentsBasic Eligibility Criteria
Accepted for admission at an approved institution of higher education as a full-time student in a program of study that leads to a baccalaureate degree, associate degree, qualified certificate or a nursing school diploma
Applicant must complete the YOUniversal Scholarship Application and the FAFSA
Must apply during the senior year of high school
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Academic Challenge Scholarship Traditional
Academic Challenge Scholarship Traditional
Students with a disability identified under the Individuals with Disabilities Act who graduate from an Arkansas public high school but do not complete the Smart Core because their individualized education program does not require it must Achieve a 2.5 high school GPA AND Earn a 19 on the ACT
Graduate from a private, out-of-state high school or home school and achieve a 19 on the ACT
Enrollment and Renewal‒ Enrollment
• Hours required to receive funds for a particular semester
• Measured as of the end of the 11th class day• Hours added after that date do not count• Only count hours enrolled at a single school
‒ Renewal (also referred to as continuing eligibility)• Hours required to renew scholarship for the
next academic year• May use summer terms to meet hours and GPA
Academic Challenge Scholarship - Traditional‒ Enrollment
• 12 semester hours fall semester immediately following high school graduation
• 15 semester hours every semester thereafter‒ Continuing Eligibility
• Maintain a 2.5 cumulative GPA• Successfully complete 27 semester hours the first
academic year• Successfully complete semester 30 hours each
academic year thereafter• Complete all required remedial courses within the
first 30 semester hours after receiving the scholarship
Current Achievers
June 1, 2012 was the last date to apply for students and be categorized as Current Achievers.
Nontraditional
Basic Eligibility CriteriaAccepted for admission at an approved
institution of higher education as a full-time or part-time student in a program of study that leads to a baccalaureate degree, associate degree, qualified certificate or a nursing school diploma
Applicant must complete the YOUniversal Scholarship Application and the FAFSA
Academic Challenge Scholarship - Nontraditional
Academic Eligibility Criteria• Has completed at least 12 semester credit hours and
achieved a 2.5 postsecondary GPA or, • Graduate from an Arkansas public high school and
achieved a 2.5 high school GPA or obtained a 19 on the ACT; or
• Graduated from a private high school, out-of-state high school, home school or obtained a GED and achieved a 19 on the ACT; or
• Students with who have earned 12 hours but have less than a 2.5 college gpa must have a 19 on the ACT to qualify
Academic Challenge Scholarship - Nontraditional
‒ Enrollment• 15 semester hours every semester full time• 6 semester hours part time
‒ Continuing Eligibility• Maintain a 2.5 cumulative GPA• Complete 15 semester hours each semester
enrolled full time• Complete 6 semester hours each semester
enrolled part time• Complete all required remedial courses within
the first 30 semester hours after receiving the scholarship
Funding CAP for Nontraditional StudentsNontraditional student funding:
$12.0 Million for 2012-13 – including renewalsIf sufficient funds are not available, awards
will be prioritized using a weighted average based on:Level of progress toward completion of their
baccalaureate or associate degree, certificate program or nursing diploma
Highest cumulative GPA Students majoring in an area identified as a
critical workforce need, and the STEM fields
AWARD AMOUNTS
$4,500 per year for full-time students at a 4-year institution
$5,000 per year for 2010-11 recipients who continue to meet the renewal requirements
Scholarship at a 2-year college will be one-half (50%) of the scholarship award amounts for 4-year institution
Award amounts will be prorated for part-time students (only applies to nontraditional category) ½ award amount – 6-8 hours ¾ award amount – 9-14 hours
Academic Challenge Scholarship
Application Deadline Dates: Traditional Students - June 1 of senior year
in high school Current Achiever Students - June 1 Nontraditional Students - June 1 There is no longer a November 1 deadline Application will be available on January 1.
Application Statistics2010-11
Traditional (High School Seniors) – 17,026Current Achiever/Nontraditional – 48,513
2011-12Traditional (High School Seniors) – 18,342Current Achiever/Nontraditional – 19,985
2011-12Traditional (High School Seniors) - 18,586Current Achiever/Nontraditional - 17,549
Award Statistics2010-11
Traditional (High School Seniors) – 12,872Current Achiever/Nontraditional – 16,956
2011-12 (as of July 26, 2011)Traditional (High School Seniors) – 13,716Current Achiever – 678Non-traditional – No new ACSNT awards
2012-13 (as of June 4, 2012)Traditional (High School Seniors) – 13,539Non-traditional/Current Achiever – after July 1
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• Available on January 1, 2013 • Search and apply for all ADHE administered scholarships
and grants at one time• Receive e-mail status notifications• Available all year, but deadlines built into processing• Manage your account 24/7 to include:
–Updating personal information and college–Reviewing transcript and test score information
Administrative Processing
‒ Electronic (TRIAND) transcripts • Transcript retrieval• Smart Core criteria• GPA• ACT & other test scores
‒ Notifications to students (emails)• Award Notices• Incomplete Notices• Ineligible Notices
Scholarship Reporting System for Counselors
Currently under revision due to privacy concerns. ADHE will notify counselors when it is available.
