Minors residing in North Carolina are considered residents of the state where their parents reside. State law also allows military and their dependents to be treated as North Carolina residents for tuition purposes while stationed in North Carolina. A student must be making satisfactory academic progress in order to continue receiving federal aid. Each institution develops its own satisfactory academic progress standards for financial aid eligibility. Some scholarships have community service requirements and geographic, institutional or academic major restrictions.
Most scholarships require the student to maintain satisfactory academic progress for renewal.
The SAR reports the information that was processed and indicates federal eligibility. It may also be used by the institutional financial aid office in determining a student's eligibility for other state or private programs of financial assistance. This is a need-based loan on which the interest is paid by the federal government while the borrower is enrolled in school or during grace and deferment periods. This is a non need-based loan for which borrowers are responsible for interest from the date the loan is disbursed. This is a review process to determine the accuracy of the information on a student's financial aid application.