I just called AUA NY office and spoke to student financial services. I had an inquiry regarding to who will be eligible for funding due to the new grading system, Honor, pass, and failed. The answer I got from the representative was, "I don't know what you are talking about, you need a GPA of 2.75 to obtain loans" In short, I was transferred to an admission adviser which she did not picked up. I can't seem to get a straight answer from anyone. There are "rumors" that a Pass will be like a 3.0, so as long you keep passing you are gold. Any students know more about this, please PM or feel free to post it here. Thank you.