Don’t Lose Your Financial Aid! Three Things You Must Monitor

Universities at the masters level utilize several measures in determining eligibility for financial aid. Financial aid can consist of student loans, stipends, scholarships, etc. There are three general categories for determining eligibility: Cumulative GPA, Pace, and Maximum Time. Your financial aid can be terminated if you fail to meet any of these requirements! Therefore, it is recommended that you monitor each of these categories for yourself so that you don’t get any nasty surprises.

Cumulative GPA

When enrolled in a masters program you are expected to maintain a minimum GPA, generally 3.0, at all times. This means you really can’t get grades of “C”; or if you do they must be compensated for by “A”s. This applies not only to financial aid eligibility, but is also a general academic requirement. In another words, too many “C”s and you’re out. This isn’t like undergrad.

For example, the University of South Florida (where I am a doctoral student) requires you to maintain a 3.0 average at all times. USF also does not include grades from previous institutions. Check your university’s catalogue for their specific requirements.


You must continually make sufficient progress toward your degree.

For example, at USF minimum pace is considered to be completion of 67% of the credit hours that you attempted. USF includes ALL coursework in this calculation, even if it is from a different university or program. Check your university’s catalogue for their specific requirements.

Maximum Time

There is a limit on the maximum number of credit hours you can attempt, and/or the total time it takes to attempt them. This means that if you aren’t successfully completing courses fast enough, your aid can be taken away. Universities calculate this as either as a maximum number of credit hours, or maximum amount of time. In either situation, universities will take the expected number and add some wiggle room to it.

For example, USF calculates Maximum Time as 150% of the required credit hours for your program.

I had a “nasty surprise” at the beginning of this semester when I got a very unfriendly letter telling me I was no longer eligible for my teaching stipend because I wasn’t making “satisfactory academic progress.” I went into full-on panic mode because suddenly I was going to have to come up with $3K tuition! Don’t let this happen to you. In my case, they wrongly counted my masters hours as part of my doctoral hours in their maximum time calculation. They were able to straighten it out, but if I had been checking it I could have avoided the last-minute panic. And when you’re in a graduate program, you want to avoid any kind of stress that you can!

Yours in the Joy of Knowledge,

Barbara LoFrisco

P.S. Due to the Budget Control Act, passed in August 2011, interest payments on student loans are no longer deferred until after graduation beginning July 1 2012. So, if you get a student loan, plan on paying interest on it as soon as it is dispersed.


Besides a new site design and other cool features like professional interviews, videos, and informative articles, Masters In also serves counseling students and new counselors by bringing on Dr. Barb LoFrisco, a licensed counselor to blog for the site! Dr. LoFrisco holds a doctorate in Counselor Education and Supervision, as well as a master’s degree in Rehabilitation and Mental Health Counseling from the University of South Florida. She is also a licensed mental health counselor, licensed marriage and family therapist, and certified sex therapist. Currently, she helps individuals and couples with anxiety, depression, relationship and sexual issues in her private practice in the Tampa, FL area. She is interested in social media, and one of her publications is an article in Career Development Quarterly on how university career centers are utilizing social media.

At Masters In, Barbara writes about counseling education as well as career and study advice. The blog aims to serve both counseling students and early-career counselors. If you have any topics you’d like to see Barbara blog about, please let us know! You can email us at [email protected] Or, leave a comment on Facebook or Twitter!