Students attending the Institution may receive various types of student aid depending upon their eligibility and qualifications. All students entering the Institution are required to meet with the Institution’s financial aid officer who can provide the student with the information and applications necessary to apply for financial aid.
Students should understand that the student financial assistance programs described in this catalog may change from year–to-year as may the qualifications and eligibility to receive financial aid. Determinations regarding eligibility for financial assistance, as well as the amount and timing of financial assistance, are made by the U.S. Department of Education.
Additionally, students should understand that the school has no control over financial aid program regulations, which are generally increasing in complexity and compliance requirements. ((Examples might include proposed regulations of existing regulations such as “Gainful Employment”, “Cohort Default Rates”, “Loan Repayment Rates”, “90/10”, etc., which could result in a loss of financial aid for a specific educational program and/or closure of the campus before all students graduate.) As such, the school makes no promises or representations whatsoever regarding the timing, amount or availability of financial aid for students.
The eligibility of students to receive financial assistance (including student loans, student grants, etc.) while enrolled in a particular educational program, and/or the eligibility of the school itself to participate in financial assistance programs, could be terminated/restricted/limited prior to the student graduating for numerous reasons under current regulations. If any of these circumstances occurs, the school may terminate the program and/or close the campus prior to all students graduating.
In the event of program termination or campus closure, any student who has not yet graduated will be released from any further tuition payment obligations beyond the student’s final term in school and the school will have no further obligation to the student to continue offering classes or providing other services, etc. under the student’s enrollment contract or otherwise. Both the school and the student will be deemed to have discharged his/her/its obligations to the other. The decision to terminate a program and/or close a campus will depend on the circumstances existing at that time, including, whether an adequate number of students are able and willing to pay their tuition and fees without financial aid assistance to make program and/or campus continuation feasible, in the judgment of the school’s administration.
In regard to student loans, students are cautioned to carefully evaluate their needs. Failure to repay loans can have adverse consequences including negative credit ratings for at least seven years for the student, ineligibility for any additional federal financial aid, loss of the generous repayment schedule and deferment options, possible seizure of federal and state income tax refunds, exposure to civil suit, liability for collection costs, possible referral of the account to a collection agency, and garnishment of wages if the borrower is a federal employee. Students are responsible to repay student loans regardless of whether the student is satisfied with his/her education, graduates or achieves his/her career or other educational goals, unless the student has a legal defense to repayment.
The following is a list of different types of financial aid for which the student may qualify at this Institution:
- GRANTS – Grants are given on the basis of financial need.
- Federal Pell Grant Program – Students who qualify may receive the funding levels as established by the federal government for each award year. This money is not a loan and does not have to be paid back; however, the student may be required to pay back part of the grant if the student does not complete the term for which the grant was issued. The exact amount each student receives will depend upon financial information provided by the student on the student’s application. Only undergraduates are eligible to apply for Pell grants.
- Federal Supplemental Education Opportunity Grant – Like the Pell Grant, this money is awarded to students based on their financial need; it is a grant and not a loan and does not have to be paid back. In addition to financial need, the amount a student receives, if any, also depends on the availability of funding in the year in which the student is attending school. This program is a campus-based program available only to students who do not have a bachelor’s degree.
- Iraq and Afghanistan Service Grant – This Grant is for undergraduate students who are not eligible for Pell Grants whose parent or guardian died as a result of military service in Iraq or Afghanistan after 9/11; and who, at the time of the parent or guardian’s death, were less than 24 years old or were enrolled at least part-time at an institution of higher education. Students who qualify may receive a maximum award equivalent to the Pell Grant maximum.
- LOANS – In recognition of the national concern for excessive student loan debt, this institution has made an explicit commitment to protect students, taxpayers, and the integrity of the US Department of Education student loan program. The institution carries out its commitment by consistently providing the utmost efforts to reduce student loan debt. As such, it is this institution’s policy to protect students from over-borrowing by providing individualized, comprehensive counseling and through all other appropriate means, on a case-by-case basis, in order to determine the appropriate level of borrowing for each student. Under the Direct Loan program, payments begin six months after graduation or the student ceases at least half-time enrollment. Under the Direct PLUS (Parent Loan) program, payment begins approximately 60 days after the final disbursement of the loan, but may be deferred until after graduation or the student ceases half-time enrollment at the request of the parent.
- Federal Direct Loan Program – The Direct Loan is either subsidized or unsubsidized. A subsidized loan is awarded on the basis of financial need. The student will not be charged any interest during periods of at least half-time enrollment. The Federal Government “subsidizes” the interest during these periods.
- An Unsubsidized Direct Loan is not awarded on the basis of need. A student will be charged interest from the time the loan is disbursed until it is paid in full. A student can choose to pay this interest while in school or let it capitalize.
- The maximum loan amounts a student may be eligible for is $9,500 for the student’s first year, $10,500 for the student’s second year, and $11,500 for the student’s third year with no more than $3,500 the first year, $4,500 the second year, and $5,500 the third year from the Subsidized program.
- Federal Direct PLUS (Parent Loans) for Undergraduate students are for parents of dependent students. The parent may borrow up to the student’s cost of attendance minus other financial assistance. The parent must pass a credit check for eligibility.
- BENEFITS – Benefits are funds some people are entitled to under special conditions. Like grants, benefits do not have to be paid back. Eligibility for benefits is established by the agency administering the program.
- PAYMENTS IN LIEU OF DEBT – In recognition of the national concern for excessive student loan debt, this institution has made an explicit commitment to protect students, taxpayers, and the integrity of the US Department of Education student loan program. The institution carries out its commitment by consistently providing the utmost efforts to reduce student loan debt. As such, it is this institution’s policy to protect students from over-borrowing by providing individualized, comprehensive counseling and through all other appropriate means, on a case-by-case basis, in order to determine the appropriate level of borrowing for each student. Thus, the institution allows the student to make monthly payments which are applied as a credit against tuition and other fee charges. Each student’s situation is different and the institution is willing to work within the student’s means, therefore, each student’s payment will vary accordingly. Additionally, if once a student begins school and is making payments and subsequently determines that the payments should be modified, either up or down, to accommodate the student’s individual situation the institution will modify payments. Any payment modification must ensure that the student ultimately meets their tuition and fee obligations.
- OTHER IMPORTANT INFORMATION – This institution takes seriously its obligation to maintain strict confidentiality regarding any student’s financial aid and account status. As such, it is an absolute violation of the institution’s confidentiality policy for an employee or for a student to discuss or disclose any matter that involves the student’s financial aid or account status with anyone outside of those administrators authorized to address such matters. Students are cautioned that every individual’s financial aid is unique to that student and any disclosure by a student of any aspect of his or her financial aid is likely to cause confusion and concern among other students and such a disclosure is considered a violation of the institution's confidentiality policy in the same manner as such a disclosure by a financial aid representative. Violation of this policy may subject the offending student or financial aid officer, as the case may be, to discipline up through and including dismissal from school, in the case of the student, or termination from employment, in the case of the employee.
The College President or Financial Aid Representative shall provide to any current or prospective student or other individual authorized to receive such information, documentation relating to the Institution’s accreditation, licensing, financial aid selection, procedures, disbursements, Title IV Funds return policy, and other required student consumer information, upon written request. Any students aggrieved by adverse decisions of the Financial Aid Representative may appeal those decisions to the Financial Aid Manager. This applies only to decisions made by the Financial Aid Representative.
It is the policy of this Institution that all grants and scholarships be applied first to the student’s institutional costs, such as tuition, books, and other required fees.