Commonwealth of Massachusetts. Office of Student Financial Assistance STATE FINANCIAL AID PROGRAMS GUIDELINES AND PROCEDURES

Size: px
Start display at page:

Download "Commonwealth of Massachusetts. Office of Student Financial Assistance STATE FINANCIAL AID PROGRAMS GUIDELINES AND PROCEDURES"

Transcription

1 Commonwealth of Massachusetts Office of Student Financial Assistance STATE FINANCIAL AID PROGRAMS GUIDELINES AND PROCEDURES

2 Massachusetts Assistance for Student Success Program Table of Contents I. General Guidelines II. MassGrant III. No Interest Loan IV. Christian Herter Memorial Scholarship V. Agnes M. Lindsay Scholarship VI. John and Abigail Adams Scholarship VII. Public Service Grant VIII. Part-Time Grant IX. Cash Grant X. Massachusetts Foster Child Grant Program XI. Tuition Waivers

3 XII. National Guard Tuition Waiver Program XIII. Gilbert Grant XIV. Paraprofessional Teacher Preparation Grant XV. Early Childhood Educator s Scholarship XVI. One Family, Inc. Scholarship XVII. GEAR UP Scholarship XVIII. Mathematics and Science Teachers XIX. Scholar Internship Match Fund XX. National Guard Fee Assistance XXI. Competitive Incentive Grant Fund

4 Massachusetts Assistance for Student Success Program I. General Guidelines

5 1. A General Guidelines Loan Default and Eligibility for Massachusetts State Financial 2 Aid Programs Study Abroad Programs 3 Change in Enrollment and Eligibility for Massachusetts State Financial 4 Aid Programs Compliance Attestation Requirements 5 State Refund Policy 6 Student-Owed Refund Policy 8 State Financial Aid Programs Record Retention Requirement 9 Board of Higher Education Immigration and Naturalization Notification 10 I. 1

6 LOAN DEFAULT AND ELIGIBILITY FOR MASSACHUSETTS STATE FINANCIAL AID PROGRAMS Students who are in default of any education loan, including a Massachusetts No Interest Loan, are not eligible to receive assistance from Massachusetts State financial programs until their default status has been cleared. A student is, however, eligible to retain funds from a Massachusetts financial aid program if the institution was notified of the default status after the funds were disbursed to the student s account. The student is not eligible for any subsequent disbursement until the default status has been cleared. A monthly updated roster of No Interest Loan defaulters who filed a current year Free Application for Federal Student Aid (FAFSA) is available for schools to access on-line via OSFA s website at I. 2

7 STUDY ABROAD PROGRAMS AND ELIGIBILITY FOR MASSACHUSETTS STATE FINANCIAL AID PROGRAMS In order for a student to be considered eligible for Massachusetts state financial aid programs while attending a study abroad program, the four following conditions must be met: 1. Student must maintain enrolled status at his/her home institution while attending program abroad. Home institution is defined as institution that will be conferring undergraduate degree upon the student. 2. Home institution must also be eligible to participate in Massachusetts state financial aid programs and have filed a Participation Agreement with the Massachusetts Office of Student Financial Assistance. 3. Financial aid has to be processed by the home institution. 4. Credits that the student earns while studying abroad must be transferable to and accepted by the home institution. I. 3

8 CHANGE IN ENROLLMENT STATUS AND ELIGIBILITY FOR MASSACHUSETTS STATE FINANCIAL AID PROGRAMS A student who has dropped to below full-time status can, on a term by term basis, remain eligible for a Massachusetts State financial aid program that requires full-time enrollment status when the following conditions are true: 1. Student has not withdrawn from the institution. 2. Student has dropped to below full-time enrollment status after he/she had begun attending his/her classes during a specific term. 3. Changes in student s enrollment status occur after the date for such changes to affect the charges that the student incurs at the institution for that specific term. 4. Institution continues to charge the student on a full-time enrolled basis after he or she has officially dropped to below full-time enrolled status. 5. Institution has fully defined and published policies and guidelines that guide its treatment of changes to enrollment status. 6. Student meets all other eligibility criteria of the Massachusetts State financial aid program. I. 4

9 COMPLIANCE ATTESTATION REQUIREMENTS Institutions of higher education in Massachusetts that administer funds from Massachusetts State financial aid programs are required to perform and submit an independent compliance attestation report of Massachusetts State financial aid programs on an annual basis, EXCEPT FOR: Institutions of higher education that expend a total amount of Massachusetts State financial assistance funds equal to or less than $25,000, or such other amount specified by the Commissioner in any fiscal year. Institutions located in a state other than Massachusetts and which do not provide programs within Massachusetts to recipients of Massachusetts State financial assistance funds. Institutions that have been approved by the Massachusetts Office of Student Financial Assistance to participate in the every third-year Attestation Compliance Report Submission Program. Those institutions are, however, required to submit copies of any internal or external reports, and/or program reviews (i.e. A-133 Audit, State or Federally conducted program reviews, etc.) on financial aid, that take place at the institution for the rotation years when a Massachusetts State Financial Aid Program specific Compliance Attestation Report is not required by the Massachusetts Office of Student Financial Assistance. The annual period to be reviewed coincides with the fiscal year end of the institution. Compliance attestation reports are due six months following the fiscal year end, unless otherwise agreed upon in writing by the Massachusetts Office of Student Financial Assistance (OSFA). Institutions will be advised annually of their compliance attestation requirements vis-à-vis Massachusetts State financial aid programs. In performing compliance reviews of Massachusetts State financial assistance programs, the independent auditor shall have available, in addition to the Massachusetts Office of Student Financial Assistance Attestation Guide, a fiscal year specific copy of Massachusetts State Financial Assistance Programs Guidelines and Procedures, as well as any and all relevant Dear Colleague letters published by OSFA. The Student Financial Assistance Attestation Guide was revised in April 2007 and will remain in effect throughout the academic year. Compliance Attestation Reports should be mailed to: Massachusetts Office of Student Financial Assistance Compliance Attestation Division 454 Broadway, Suite 200 Revere, MA I. 5

10 MASSACHUSETTS STATE FINANCIAL AID PROGRAMS REFUND POLICY In calculating refunds to Massachusetts State financial aid programs, institutions shall apply the following rules: a) Refund policy shall apply to any student who withdrew from all classes but attended the institution for at least one day during the period of enrollment or payment period for which refunds to state financial aid programs are due; b) Consider state financial aid that is already disbursed as well as financial aid that could be disbursed in calculating the amount earned by the student. Financial aid that could be disbursed primarily refers to No Interest Loans that are to be disbursed on a Late Disbursement basis and meet the requirements, or any other financial aid programs that are subject to post-withdrawal disbursement; c) Percentage of state aid to be retained by the student shall be the same as earned under Title IV programs for the same period of enrollment or payment period, however; d) If the student received Title IV aid and has an unpaid tuition and mandatory fees balance to the institution (for the same enrollment period during which he/she withdrew or took an approved leave of absence) as a result of the application of the Return of Title IV Funds policy, the institution may use additional state financial aid (beyond the percentage earned under the Return of Title IV Funds policy) to cover the unpaid tuition and mandatory fees balance, but not before all other aid, including aid from direct institutional funds as well as any scheduled cash payment have been used in the payment of the same tuition and mandatory fees balance; e) If the student did not receive any Title IV funds during the same period of enrollment or payment period for which refunds to state aid are due, the institution shall employ the Return of Title IV Funds policy to determine the percentage of state aid the student earned during the period of enrollment or payment period for which he/she is being charged. State aid can be retained only after all other non-state aid (including aid from direct institutional funds) disbursed to the student for the same period, as well as any scheduled cash payment have been used in the payment of charges that the student incurred for the same period during which he/she withdrew or took an approved leave of absence; f) The institution is responsible for collecting and refunding unearned state aid in excess of $25 that was disbursed directly to the student. If the institution is unable to collect the unearned state fund(s) from student after three (3) documented attempts, it shall refer the amount to the Massachusetts Office of Student Financial Assistance. Such three (3) attempts to collect unearned State aid shall be in the form of three (3) separate letters to the student, within a 45 day period, requesting the unearned amount g) Unearned State financial aid shall be refunded in the following order: 1. Tuition Waiver (Need Based and Categorical) 2. Massachusetts No Interest Loan 3. General Scholarship (MASSGrant) 4. Christian A. Herter Memorial Scholarship 5. Foster Child Grant Program 6. Gilbert Grant I. 6

11 7. Public Service Scholarship 8. Cash Grant (Access Grant Program) 9. Part-Time Grant 10. Early Childhood Educator s Scholarship 11.One Family Inc. Scholarship 12.GEAR UP Scholarship 13.Paraprofessional Teacher Preparation Grant 14.Massachusetts Educational Rewards Grant 15.Math & Science Teachers Scholarship 16.Scholar-Internship Match Fund 17.National Guard Tuition & Fee Assistance 18.Adopted Child Tuition & Fee Waiver 19 Foster Child Tuition & Fee Waiver In calculating refunds to Massachusetts State financial aid programs, the institution must use the Massachusetts State Financial Aid Programs Refund Worksheet. Please refer to Exhibit 6 in the MASSGrant section for a copy of the Refund Worksheet. Institutions also have the option and are encouraged to use the Massachusetts State Financial Aid Program electronic Refund Worksheet. Such a worksheet can be found under the Schools section at: I. 7

12 STUDENT-OWED REFUND POLICY Institutions are responsible for collecting and refunding unearned state financial aid in excess of $25 that is disbursed directly to a student. If the institution is unable to collect the unearned state aid from a student after three (3) documented attempts, it is obligated to refer the student-owed refund to the Massachusetts Office of Student Financial Assistance (OSFA). Such three (3) attempts to collect unearned state aid must be in the form of three separate letters to the student, within a 45 day period, requesting the unearned aid. Please refer to the Massachusetts State Financial Aid Program Refund Policy. Schools can directly report a student-owed refund to OSFA via the MASSAid system by selecting the Owe Refunds Students option from the menu section of MASSAid. Students who owe refunds on previously received Massachusetts State financial aid funds are not eligible to receive assistance from Massachusetts State financial aid programs until the outstanding refund has been paid. A list of students who owe refunds on previously received state financial aid funds is available to all institutions in real time via the MASSAid system. I. 8

13 STATE FINANCIAL AID PROGRAMS RECORD RETENTION REQUIREMENT Institutions that participate in Massachusetts State financial aid programs are required to maintain records pertaining to their administration of such financial aid programs for a period of seven (7) years following the academic year during which those records were created, unless such records are included in the disposal schedules approved by the Records Conservation Board upon the request of the Office of Student Financial Assistance in accordance with M.G.L.c. 66,s.8. I. 9

14 BOARD OF HIGHER EDUCATION IMMIGRATION AND NATURALIZATION NOTIFICATION MOVED: It is the policy of the Board of Higher Education that public institutions of higher education in the Commonwealth of Massachusetts notify the Immigration and Naturalization Service (INS) immediately of the name and last known address of any international student requiring a student visa whenever such student does not enroll, enrolls for less than full-time, withdraws or graduates from the institution. The public institutions of higher education shall forward copies of any such INS notifications to the Board of Higher Education. In accordance with this policy, it is requested that the public institutions of higher education commence in the INS notification process effective October 2, Authority: Massachusetts General Laws, Chapter 15A, Section 9. Background: Recent media reports have identified problems in the oversight of the international student visa programs in light of the September 11 attack on the World Trade Center. On Sunday, September 23, 2001, the CBS news program, 60 Minutes, ran a story about one of the individuals who committed a terrorist attack on the World Trade Center in The story said that this person had been allowed into the United States on a student visa to attend one of the public universities in Kansas but was no longer enrolled when the attack occurred. The Globe (9/30/01, p. A30) reported that the Immigration and Naturalization Service gave only token attention to a monitoring program of the status and activities of the more than 284,000 international students currently in the United States with student visas for academic or language programs. As of 1999, the latest year for which data are available, there were approximately 4,500 international students requiring visas enrolled in Massachusetts public higher education institutions. When a student who lives abroad applies to and is accepted for enrollment into Massachusetts public institutions, (s)he must apply to the U.S. State Department for a student visa application Form I-20. Students who already live in our country under a different visa must complete and submit Form I-539 to change to student status. The embassy of the student s country of origin and the State Department must both approve the visa application. If a student does not enroll or enrolls for less than full-time status, (s)he is considered out of compliance with the terms of the student visa. Under current policy and procedure, when a student fails to comply, the institution may notify the student and the INS of his/her lack of compliance. The federal law does not mandate that institutions automatically notify INS; it stipulates only that the institution provide such information whenever asked by the INS. Anecdotal evidence suggests such requests do not occur regularly; for example, Salem State College has not been asked for such information since the late 1980s. Some campuses consider it good practice to notify INS whenever a student is no longer in compliance. If a student who was out of compliance wishes to re-enroll, (s)he must begin with a new I-20 or I-539 application before re-admittance. The Immigration and Naturalization Service (the Service) regulations (in 8 CFR 214.3(g)(2)) state that: at intervals specified by the Service but not more frequently than once a term or session, the Service s processing center shall send each school (to the address given on Form I-17 as that to which the list should be sent) a list of all F-1 and M-1 students who, according to Service records, are attending school. I. 10

15 A designated school official at the school must note on the list whether or not each student on the list is pursuing a full course of study and give, in addition to the above information, the names and current address of all F-1 or M1 students, or both, not listed, attending the school and other information specified by the Service as necessary to identify the students and to determine their immigration status. The designated school official must comply with the request, sign the list, state his or her title, and return the list to the Service s processing center within sixty days of the date of the request. The lack of reliable information about non-citizens living in the United States on a temporary basis has impeded the investigation into the attacks. The proposed new BHE policy to enhance the reporting requirements supports both existing law and good practice. By establishing this policy, it is our intent to be proactive in responding to this threat.

16 Massachusetts Assistance for Student Success Program II. MASSGrant

17 II. A MASSACHUSETTS ASSISTANCE FOR STUDENT SUCCESS PROGRAM GUIDELINES PURPOSE: The Massachusetts Assistance for Student Success Program (MASSGrant) is a grant assistance program funded by appropriations from the Massachusetts State Legislature in accordance with Massachusetts General Laws, Chapter 15, Section 19A. The MASSGrant program provides need-based financial assistance to undergraduate students who reside in Massachusetts and who are enrolled in and pursuing a program of higher education in any approved public or independent college, university, school of nursing or any other approved institution furnishing a program of higher education. The MASSGrant provides financial assistance to Massachusetts students demonstrating the greatest financial aid need. DEFINITIONS: ELIGIBLE INSTITUTION: An eligible institution is defined as a state-approved public, private, independent, for profit or nonprofit, institution in the Commonwealth of Massachusetts authorized to offer undergraduate degrees, certificates or diploma programs and that is also approved by the U.S. Department of Education to administer Title IV programs. Massachusetts state-approved public, private, independent and non-profit Institutions located in states (NH, ME, CT, VT, RI, PA and the District of Columbia) that have reciprocity agreements with and approved by the Commonwealth and award Associate and Bachelor s Degrees are also eligible to participate. ELIGIBLE PROGRAM: Any eligible degree or certificate program offered by an institution. ELIGIBLE STUDENT: A student enrolled in an eligible program and meeting the following requirements: a. a permanent legal resident of Massachusetts for at least one year prior to the opening of the academic year and a U.S. citizen or non-citizen eligible under Title IV regulations b. in compliance with Selective Service Registration requirements c. eligible for Title IV financial aid and not in default of any federal or state loan d. does not owe a refund on any previously received federal or state financial aid e. demonstrates financial need as determined by the Federal Methodology need analysis criteria f. has a documented Expected Family Contribution (EFC) between based on an eligibility index system approved by the Massachusetts Board of Higher Education 13

18 g. is enrolled as a full-time student (12 undergraduate credits or its equivalent) in an eligible undergraduate degree, certificate or diploma program and must have maintained eligibility at the time of disbursement. h. not have reached the maximum semester of eligibility to continue to receive a MASSGrant award (eligibility is limited to a specific number of semesters based on the type of institution that the student attends) i. is maintaining satisfactory academic progress in accordance with institutional and federal standards j. must not have received a prior bachelor s degree or its equivalent k. if enrolled in a clock hour program, the student must: 1) complete a minimum of 24 clock hours per week 2) complete a minimum of 320 hours during the period of July 1 December 31 to qualify for a Fall disbursement 3) complete a minimum of 320 hours during the period of January 1 June 30 to qualify for a Spring disbursement l. if enrolled in English as a Second Language (ESL) program courses, the student must be simultaneously enrolled in either a certificate, associate or bachelors degree program in order to be considered eligible for a MASSGrant. Credits a student earns for ESL program courses may be counted towards his/her full-time enrollment status. m. must meet all institutional requirements STUDENT AWARD VALUES: Awards are determined by an indexing system approved by the Board of Higher Education that considers the federal expected family contribution (EFC), and type of institution the student attends. Individual awards for the academic year may not exceed a student s demonstrated financial aid need. Eligibility for the MASSGrant is restricted to a maximum number of semesters as follows: 10 semesters if enrolled in an approved five-year undergraduate program 8 semesters if enrolled in a four-year undergraduate program 6 semesters if enrolled in a three-year undergraduate program 4 semesters if enrolled in a two-year undergraduate program 2 semesters if enrolled in a one-year certificate or diploma program INSTITUTIONAL DISBURSEMENT OF FUNDS: a) MASSGrant funds are disbursed to the institution in two payments for the fall and spring semesters for students who meet all eligibility criteria, as certified by the institution. 14

19 b) Payment of MASSGrant funds is sent directly to the institution from the Commonwealth s Comptroller s Office. One hundred percent of the funds from the MASSGrant award shall be used to credit the student s account. Funds must be disbursed to students during the traditional academic year. c) All refunds shall be sent to the Office of Student Financial Assistance and checks made payable to the Commonwealth of Massachusetts. d) Refunds may occur as a result of adjustments to EFC, changes to dependency status, and/or changes to a student s enrollment status. Refunds may also occur if the institution receives payment and becomes aware that a student has withdrawn, dropped below full-time status, taken an approved leave of absence, or otherwise fails to complete the period of enrollment as charged. AUDIT REQUIREMENTS: All financial books, records and documents pertaining to this program shall at all reasonable times be opened to inspection, review and audit by the Commissioner, the State Auditor or their authorized representatives who shall have access to the premises wherever such books, records and documents are located. The institution shall retain such financial records for a period of seven years. 15

20 Massachusetts Assistance for Student Success Program III. NO INTEREST LOAN 16

21 Table of Contents IV. A. Institutional Eligibility 1 IV. B. No Interest Loan Default 1 IV. C. Student Eligibility 2 IV. D. Mailing of Forms to Institutions 2 IV. E. NIL Electronic Promissory Note 3 IV. F. Disbursement Dates 3 IV. G. Submission of Promissory Note to OSFA 4 IV. H. Regulation Z/Title X 5 IV. I. Processing of Promissory Note 5 IV. J. Cancellation of Loan (Full/Partial) Prior to Disbursement 5 IV. K. Loan Increases 6 IV. L. Late Disbursement 6 IV. M. No Interest Loan Disbursement 6 IV. N. Mailing of Funds to Schools 7 IV. O. Refunds 7 IV. P. Request for Additional NIL Funding 8 IV. Q. Changes to Enrollment Status/Graduation Date 8 IV. R. De-obligation 8 IV. S. NIL Record Keeping and Audit Requirements 8 IV. T. No Interest Loan Repayment 8 IV. U. Student Loan Repayment Schedule and Disclosure 9 Statement IV. V. No Interest Loan Deferment 9 IV. W. No Interest Loan Cohort Default Rate 9 IV. X. Wellness Program 10 IV. Y. Expanded No Interest Loan Program 10 IV. Z. Educational Computer Services, Inc and OSFA Contacts 10 17

22 MASSACHUSETTS NO INTEREST LOAN PROGRAM Policies and Procedures Manual Program Year In 1992, the Commonwealth of Massachusetts Legislature created the No Interest Loan (NIL) Program. The NIL program is designed to provide eligible, needy Massachusetts residents attending post-secondary educational institutions in Massachusetts with a state-funded loan. Administered by the Massachusetts Office of Student Financial Assistance, the NIL program offers zero interest loans to assist in meeting educational costs. Students have a period of ten (10) years to repay their NIL loan(s). Program Statute Massachusetts General Laws, Chapter 15A; section 9, cc. provides: Administer a program, subject to appropriation, to provide no-interest loans to undergraduate students domiciled in the commonwealth, enrolled in and pursuing a program of higher education in the Commonwealth in any approved public or independent college, scientific or technical institution, or any other approved institution furnishing a program of higher education. Such assistance shall consist of full or partial loans to students in need of assistance. Repayment shall commence within six months of graduation or termination of studies; provided that no repayment schedule shall exceed a term of ten years. Monies received in repayment shall be retained by the Board of Higher Education for the administration of the program without further appropriation. The Massachusetts State Scholarship Office shall establish guidelines to govern said program which shall include, but not limited to, eligibility requirements for students, eligibility requirements for participating institutions, terms of payment, deferment options, provision for default, and a maximum and minimum loan award as determined by an indexing system. IV. A. Institutional Eligibility: Institutions wishing to participate in the No Interest Loan program must have signed a Participation Agreement with the Massachusetts Office of Student Financial Assistance, meet the program s loan cohort default rate requirements, as well as achieved established performance measures with respect to NIL loan exit counseling process. In addition, the institution must be either private, public, independent, for profit or nonprofit, issuing associate and/or bachelor degrees, or certificate programs and located in Massachusetts. The institution must be eligible to participate in Federal Title IV programs and fully accredited. The institution must continue to meet all of the above and other requirements throughout its participation in the No Interest Loan program. IV. B No Interest Loan Default: Students who are in default of a Massachusetts No Interest Loan are not eligible to receive assistance from any Massachusetts State financial aid programs until their default status has been cleared. A student is, however, eligible to retain funds from a Massachusetts State financial aid program if the institution was notified of the default status after the disbursement was made to the student s account. The student is not eligible for any subsequent disbursement until the default status has been cleared. The NIL defaulters list is also available on-line at (under reports section). 18

23 C Student Eligibility: Eligible students who meet the program requirements are included on a NIL Eligibility Roster (Exhibit A), which is available to institutions at the beginning and throughout the NIL processing cycle. Schools can, at any point in time, produce and print their own NIL eligibility roster directly from OSFA s web site. Students wishing to become eligible for a No Interest Loan for the academic year must complete their Free Application for Federal Student Aid (FAFSA), by the priority deadline date of March 15, Because OSFA s determination of a student s eligibility is based on an Expected Family Contribution (EFC) derived from Federal Methodology (FM), the institution has the responsibility for validation of such EFC. Likewise, schools have the same responsibility to ensure that the borrower meets all other requirements of the No Interest Loan program prior to advancing a NIL award. The EFC and student dependency requirements are displayed herein (Exhibit B). A student s current year maximum eligibility is listed on the NIL Eligibility Roster under Maximum Loan Amount. In view of the fact that the program has a lifetime borrowing limit of $20,000, a student s aggregate loan history is taken into account when determining current year eligibility. The minimum initial NIL award a student can receive is $1,000. In addition to meeting the above requirements, students eligible for the NIL program must also meet the following conditions: Be a Massachusetts resident for at least 12 months prior to August 1, 2012 Be a U.S. citizen or a non-citizen eligible under Title IV regulations Not yet received a bachelor s Degree and currently pursuing a course of study in an eligible program at an eligible institution Be enrolled full-time (minimum 12 credits per semester or its equivalent) Maintain satisfactory academic progress in accordance with the school s academic policy Not be in default of any federal or state loans or owe a refund for any previous financial aid received Comply with Selective Service requirements Must provide requested documentation to the school if selected for verification Must have a documented Estimated Family Contribution (EFC) between 0-15,000 at the institution If enrolled in a clock hour program, the student must: 1) complete a minimum of 24 clock hours per week 2) complete a minimum of 320 hours during the period of July 1 December 31 to qualify for a Fall disbursement 3) complete a minimum of 320 hours during the period of January 1-June 30 to qualify for a Spring disbursement If enrolled in English as Second Language (ESL) program courses, the student must be simultaneously enrolled either in a certificate, associate or bachelors degree program in order to be considered eligible for a No Interest Loan. Credits a student earns for ESL program courses may be counted towards his/her full time enrollment status. IV. D Mailing of Forms to Institutions: Schools must use the electronic Promissory Note that is available on OSFA s web site to complete 19

24 and submit No Interest Loan applications on behalf of eligible students. A very limited supply of paper Promissory Notes are sent to each participating institution at the beginning of the academic year. Other forms such as NIL Information Change Form, NIL Entrance/Exit Interview Form, Repayment Charts, NIL Fact Sheets and Private Education Loan Applicant Self-Certification Form will be available on OSFA s web site for schools to print and use in the administration of the loan program. Schools can refer questions about any of the above forms to OSFA at IV. E Disbursement Dates: When completing the promissory note, schools have the option of selecting either Fall, Spring and/or Summer as their disbursement periods, in which case, the system will automatically assign a disbursement date. Institutions may also choose to select their own disbursement dates, which provides them with the flexibility of having disbursed NIL funds arrive on their campus, later than the NIL system defaults would allow. Under either scenario, NIL disbursement dates shall meet the following criteria: Each loan must have at least two (2) disbursements, unless the loan meets at least one of the following criteria, in which case, the system will assign one disbursement date only: 1. The current date is greater by 45 days or less than the loan period end date. 2. The loan period is less than 155 days in length. Each subsequent disbursement date must be greater than or equal to the previous disbursement date. First Disbursement If the current date is less than or equal to 20 days prior to the start of the loan period, the current date shall be assigned as the first disbursement date. If the current date is greater than 20 days prior to the start of the loan period, a first disbursement date equal to 20 days prior to the start of the loan period shall be assigned. Second Disbursement/No Third Disbursement Selected If the current date is less than or equal to the mid point of the loan period less 20 days, the mid point of the loan period less 20 days shall be assigned as the second disbursement date. If the current date is greater than the mid point of the loan period less 20 days, the current date shall be assigned as the second disbursement date. In either case, if the date calculated for the second disbursement date is less than that assigned for the first disbursement, the disbursements will occur in two consecutive weeks. Second Disbursement/Third Disbursement Selected 20

25 If the current date is less than or equal to the one-third point of the loan period less 20 days, the one-third point of the loan period less 20 days shall be assigned as the second disbursement date. If the current date is greater than the one-third point of the loan period less 20 days, the one-third point of the loan period less 20 days shall be assigned as the second disbursement date. In either case, if the date calculated for the second disbursement date is less than that assigned for the first disbursement, the disbursements will occur in two consecutive weeks. Disbursement Amounts Disbursement amounts are determined by dividing the loan amount by the number of disbursements. Each disbursement amount must be a whole dollar amount. In the event that the loan amount is not evenly divisible by the number of disbursements and there are only two disbursements, the first disbursement shall be truncated to a whole dollar amount and the total loan amount less the first disbursement amount is the amount of the second disbursement. When there are three disbursements, the first and second disbursements shall be truncated to whole dollar amounts and third disbursement amount shall be equal to the loan amount less the first and second disbursement amounts. For example, if a loan for $2625 must be disbursed in 2 disbursements, the first disbursement would be for $1312 and the second disbursement would be for $1313. If a loan for $2000 must be disbursed in 3 disbursements, the first and second disbursement would be for $666 and third disbursement would be for $668. IV. F Regulation Z/Title X In compliance with federal guidelines, OSFA is requiring all schools and borrowers to complete the Regulation Z/Title X disclosure process. OSFA provides a Private Education Loan Applicant Self- Certification Form and the No Interest Loan Application and Solicitation form on the origination site. All students must complete the Private Education Loan Application Self Certification Form. A promissory note is considered incomplete if received without the Self Certification form. A No Interest Loan Offer Disclosure automatically generates with the electronic Promissory Note. Once OSFA has received and approved the Promissory Note a No Interest Loan Final Disclosure is created and mailed to the borrower. The Final Disclosure allows the borrower six days to contact OSFA and/or their school to have their loan cancelled. Disbursement occurs on Thursday after the six days have lapsed. 21

26 IV. G Processing of Promissory Note: OSFA renders loan application approval within 2-3 business days or less from the day that the correctly and fully completed paper promissory note is received. If the information provided by the borrower/school on the promissory note is incomplete or invalid, it will not be accepted. The processing of such an application places it in a Denied status. Institutions are subsequently able to check the status of a submitted application on-line (in real time) to find out whether it is Generated, Received, Approved, Pending, Denied, Disbursed, Cancelled. The NIL Origination Screen also displays any and all errors and/or conditions that are associated with a promissory note that is in either a pending or denied status. Denied promissory notes are returned to the institution with a cover memorandum listing the reason(s) for denial. Schools must make the appropriate corrections, when applicable, and re-submit a corrected or new promissory note to OSFA for approval. Schools should, again, be aware that the NIL Origination program is designed to edit many fields on the promissory note before it is printed. It is our hope that the more common errors will be eliminated and most promissory notes will be approvable when received by OSFA. IV. H Cancellation of Loan (Full/Partial) Prior to Disbursement: Schools can submit/process in real time, partial/full cancellation of a scheduled disbursement or full cancellation of a loan amount directly on the Loan Origination System prior to disbursement. Once disbursement has occurred, partial/full cancellation of a loan amount is no longer allowed. Loan amounts associated with cancellations prior to disbursement will automatically revert to a school s allocation and, subsequently, become available to award to same or other students within the same academic year. A No Interest Loan amount is considered disbursed as soon as OSFA s NIL Disbursement Register is updated with that amount and a record and/or statement is available to the school on-line or via mail. Further, an institution must not have necessarily received the actual proceeds of the loan from the Commonwealth of Massachusetts, in order to consider it disbursed. IV. G Loan Increases: The institution may wish to make an additional award to a student under the NIL program, within the same academic year. All awards made to a student must fit into the academic year maximum award of $4,000, allowed under the program. Increases to awards within the same academic year are considered new loans. Institutions must, in those cases, submit a new Promissory Note and a new Self-Certification form in order to process the loan increase and the Increase box indicator must be appropriately annotated on the new promissory note. The minimum amount for a NIL loan increase is $1,

27 IV. H Late Disbursement: No Interest Loans that are to be disbursed on a late disbursement basis must meet the following conditions: Loan is being disbursed late only due to the expiration of the loan period. Loan application has been certified by institution for the enrollment period and received by OSFA, prior to the expiration of the loan period. Loan proceeds must be disbursed no later than 45 days after the expiration of the loan period. Loan proceeds are to be used to pay for educational expenses that the school determines the student incurred for the period during which he/she was enrolled and eligible. The student must have appeared on a NIL Eligibility Roster that the school received from OSFA, prior to the expiration of the loan period. IV. I No Interest Loan Disbursement: Disbursements of NIL loans generally occur on Thursday of each week; and a NIL Disbursement Roster (Exhibit F) is available for the school to retrieve from OSFA the next morning on-line. In cases when Thursday is a holiday, OSFA will run NIL disbursement rosters on the next available business day. Institutions have the responsibility to verify that a student meets all NIL eligibility requirements during the period for which they are receiving disbursements under the program. If it is determined that the student does not meet the program s requirements, the loan proceeds are to be returned to OSFA within thirty (30) days via the refund process. Schools are also required to conduct an Entrance Interview with the borrower prior to disbursement of the NIL proceeds, using the Massachusetts No Interest Loan Entrance/Exit Interview Form (Exhibit G). It is not required that this form is returned to OSFA. It is commonplace for such an interview to occur at the time the student completes/signs his/her promissory note. Further, if the student s enrollment status has changed at any point during the academic year, the school must notify the loan servicer, Educational Computer Services, Inc (ECSI). Likewise, institutions are required to conduct an exit interview with a student who has received a NIL Loan any time he/she ceases to be enrolled. The institution should contact the loan servicing agency, Educational Computer Services, Inc (ECSI), at or to report the change in enrollment status and request a No Interest Loan Exit Interview packet for that specific student. The school is also required to maintain on file their copies of the fully completed loan interview forms as proof that the exit interview process did, in fact, occur. IV. J Mailing of Funds to School: OSFA submits payment registers to the Massachusetts Department of Higher Education Business Office, as often as disbursement rosters are produced. The Business Office, in turn, sends a 23

28 payment voucher request to the State Comptroller s Office for issuance of a check. Checks are usually mailed to institutions within 2-3 weeks of the date the Business Office receives the request for payment from OSFA. Schools also have the option of receiving their payment via wire-transfer through the Massachusetts Management Accounting and Reporting System (MMARS). Institutions business offices need to contact the State Treasurer s Office if they are interested in such an option. IV. K Refunds: Institutions are expected to refund to the No Interest Loan Program partial or all amounts from a disbursement that a borrower did not use towards educational expenses at any point during the academic year. Refunds are to occur within thirty (30) days of the school s receipt of the loan funds. In processing refunds, schools must use the Massachusetts No Interest Loan Refund Form (Exhibit H) to list the students for whom monies are being returned and the amounts. Please note that no refund will be processed by OSFA unless a check for the correct amount of the refund(s) accompanies the refund form. It is important for schools to note that refunds are considered repayments of loans, and those funds do not revert to a school s allocation, and therefore, are not available for new awards within the same academic year. Refund checks should be made payable to: Commonwealth of Massachusetts Refund Forms and Checks are to be forwarded to: Massachusetts Office of Student Financial Assistance 454 Broadway, Suite 200 Revere, MA Schools should not send refunds/repayments directly to ECSI for processing. If a refund is sent to Educational Computer Services, Inc (ECSI) and processed without the knowledge of OSFA, there is the risk that the student s disbursement record will not be updated on OSFA s NIL History File and the student s eligibility may be adversely affected in the future. Refunds processed by OSFA are subsequently submitted to ECSI s loan servicing department for adjustments to a borrower s account. IV. L Request for Additional NIL Funding: Institutions can submit requests for increases to their current year allocation by sending a letter to the attention of Robert Brun, Associate Commissioner. Schools are notified in writing as soon as OSFA is able to review their request. The school s allocation is simultaneously updated in the NIL Origination System to reflect any changes. IV. M Changes to Enrollment Status/Graduation Date: In an effort to keep student s loan records constantly updated, institutions are required to notify the loan servicer, Educational Computer Services, Inc (ECSI), any time there is a change to a student s enrollment status and/ or graduation date. For schools that regularly submit changes in their students enrollment statuses to NSLDS, ECSI may also receive those changes from the latter 24

29 service. OSFA periodically submits to institutions reports of separation dates for borrowers with an In-School status. Institutions are required to review those reports and update those separation dates as necessary. Schools can contact ECSI at to report those changes. Alternatively, they can also report same enrollment changes directly on-line, using ECSI WebX System. If a school wishes to have access to ECSI on-line environment, it should contact Alison Connolly at OSFA at IV. N De-obligation: Institutions are required to de-obligate funds that they do not intend to use. De-obligated funds serve to meet requests from schools for additional allocations under the NIL program. Schools that wish to de-obligate can use the Massachusetts No Interest Loan De-Obligation Form (Exhibit I) to do so. Once OSFA processes the de-obligation information from a school, it updates the institution s allocation in the NIL Origination System. IV. O NIL Record Keeping and Audit Requirements: Institutions that participate in the NIL program shall be subject to audit requirements for the loan program. Guidelines, for such audit requirements, are published by the Massachusetts Office of Student Financial Assistance. Institutions shall also maintain records pertaining to the administration of the No Interest Loan program for a period of seven (7) years. All financial books, records and documents pertaining to the NIL program shall at all times be open for inspection, review and audit by the Commissioner, the State Auditor or their authorized representative who shall have access to the premises where the books, records and documents are located. IV. P No Interest Loan Repayment: Institutions are required to hold loan exit counseling sessions for No Interest Loan borrowers, at the time they are separating from the institution. During the exit counseling session, the school must provide the student with instructions to log onto ECSI s website, and the NIL Repayment Chart (Exhibit J). As of award year , a fully electronic NIL exit counseling application is available for all borrowers on ECSI s web-site that the school must direct borrowers to. The student will first receive notification from ECSI when their exit is available to complete. The student must review and complete/sign the Exit Packet as appropriate. If the borrower does not complete his or her on-line exit within 30 days, ECSI will mail a paper version to his or her address. This will need to be completed and mailed back to ECSI s address. Upon graduation or termination of studies, the student has a grace period of six (6) months. The repayment period begins no later than the end of the grace period, unless a deferment of payment on the balance of the loan has been requested and granted by the Commonwealth of Massachusetts or its designee(s), as per deferment provisions listed below: The borrower repays his/her loan to the Commonwealth of Massachusetts or its designee(s) at a rate of fifty (50) dollars per month. If the borrower has more than one No Interest Loan, the Commonwealth or its designee(s) prorate the payment to a minimum monthly amount, not less than $50. The repayment of such a loan shall not exceed a period of ten (10) years. During the grace period of 6 months, the borrower may request that the repayment period begin earlier. 25

30 IV. Q Student Loan Repayment Schedule and Disclosure Statement: Exit Packets will be available to borrowers via ECSI s website, sixty (60) days prior to their separation date. Schools are strongly encouraged to direct students to ECSI s website to complete their Exits. In a case where the student withdraws prior to his/her graduation, the school needs to immediately advise the loan servicing agency, Educational Computer Services, Inc (ECSI) or OSFA, and re- quest a loan exit counseling packet to be generated and notify the student that it is on-line to be completed. In order to ensure that ECSI maintains the most updated separation dates; OSFA will begin sending Expected Separation Reports. If there are changes to be made the school must do so with OSFA or by directly reporting onto ECSI WebX system at In addition schools can log on monthly to review various reports including but not limited to: In School Journal, In School to Grace Reports, and Loans Transferred Journal. Please refer to section IV.S (No Interest Loan Repayment) for more information regarding loan exit counseling forms. Schools that wish to have on-line access to ECSI s system can contact Alison Connolly at IV. R No Interest Loan Deferment: Student borrowers who continue to be enrolled in an eligible undergraduate or graduate program on an at least half-time basis can request a deferment of their Massachusetts No Interest Loan. To apply for a deferment, the borrower needs to contact Educational Computer Services, Inc (ECSI) and request a Massachusetts No Interest Loan Deferment Form (Exhibit K). The borrower may also call the Massachusetts Office of Student Financial Assistance to obtain a deferment form or log onto ECSI s website and download the form. Other circumstances under which a borrower may be eligible to receive a deferment, up to 36 months include the following: 1. Military, Peace Corps, ACTION Program, VISTA service 2. Active duty member of the National Oceanic and Atmospheric Administrative Corp 3. Office in the Commission Corp of US Public Health Service 4. Volunteer Service 5. Temporary Total Disability including spouse or dependent care 6. Unemployment 7. Hardship due to extenuating circumstances IV. S No Interest Loan Cohort Default Rate Each fiscal year, the Massachusetts Office of Student Financial Assistance calculates each No Interest Loan participating institution s NIL cohort default rate for that same fiscal year. That information is subsequently made available to the institutions. Effective with award year , OSFA has instituted new policies that guide individual school s responsibilities to the loan program, based on their loan cohort default rate Performance. The new policies are as follows: If a school s current fiscal year average NIL cohort default rate equals or exceeds 30%, it must submit and implement a Massachusetts No Interest Loan Default Prevention and Management Plan in order to continue to participate in the Massachusetts No Interest Loan Program. Such a default prevention and management plan must be submitted to the Office of 26

31 Massachusetts Student Financial Assistance, no later than July 1, immediately following the fiscal year for which such a cohort default rate was calculated. In addition, the institution must achieve a 100% return rate to the NIL loan servicer Educational Computer Services, Inc (ECSI), on all Exits that students attending the institution complete and sign when separating from the school between the period of July 1 through June 30 of the fiscal year for which such cohort default rate was calculated. The institution is also subject to other Requirements as may be specified by the Massachusetts No Interest Loan program. If a school s NIL cohort default rate equals or exceeds 10% but is less than 30%, it must achieve a 100% return rate to the NIL loan servicer, Educational Computer Services, Inc (ECSI), on all Exits that students attending the institution complete and sign when separating from the school between the period of July 1 through June 30 of the fiscal year for which such a cohort default rate was calculated in order to continue to participate in the Massachusetts No Interest Loan program. The institution is also subject to other requirements as may be specified by the Massachusetts No Interest Loan program. If a school s NIL cohort default rate is less than 10%, it must achieve a return rate of not less than 75% to the NIL loan servicer, Educational Computer Services, Inc (ECSI), on all Exits that students attending the institution complete and sign when separating from the school between the period of July 1 through June 30, of the fiscal year for which such a cohort default rate was calculated, in order to continue to participate in the Massachusetts No Interest Loan Program. The Institution is also subject to other requirements as may be specified by the Massachusetts No Interest Loan program IV.T Wellness Beginning with the academic year the Office of Student Financial Assistance will offer a wellness program for borrowers and schools. The Wellness Program is another means in combating cohort default rates. Wellness will include, but is not limited to: Letters are sent to the NIL borrower at the time the No Interest Loan is disbursed by OSFA. In addition to the grace notice from ECSI, borrowers will receive a grace notice from OSFA Each month, 90-day past due reports will be mailed out to all schools IV. U Expanded No Interest Loan Program In response to the challenging economic environment, OSFA offered an Expanded No Interest Loan (ENIL) program as one additional alternative to students and their families, seeking to afford higher education in Massachusetts. OSFA committed to providing such an alternative for award years for and the Borrowers that received an Expanded No Interest Loan and a standard No Interest Loan will have to complete two separate Exit Interviews upon separation. The Expanded No Interest Loan exit process and servicing is provided by ECSI IV. V Educational Computer Services, Inc (ECSI) and OSFA Contacts Students may contact Educational Computer Services, Inc (ECSI) for information concerning 27

32 individual loans by calling Institutions can contact ECSI at for information with regard to NIL servicing. Institutions can contact Alison Connolly of OSFA for information with regard to NIL origination at

33 29

34 Massachusetts No Interest Loan Eligibility Chart Expected Family Contribution Maximum Loan Amount Minimum Loan Amount 0 15,000 Dependent: D $4000 $ ,000 Independent: I $4000 $1000 EXHIBIT B 30

35 EXHIBIT C 31

36 NIL ERROR CONDITIONS AND ACTIONS 01. Social Security Number Invalid OSFA Action: OSFA returns promissory note to school. Report Text: The social security number provided on the promissory note does not exist on OSFA s database. Please submit new promissory note with correct social security number or contact OSFA. 02. Student currently Not Eligible for a MA No Interest Loan OSFA Action: OSFA sends error report to school or school accesses error message on the web. Report Text: Student not currently eligible for a MA No Interest Loan. Please contact OSFA. 03. Last Name on Prom Note Not Found on OSFA s database OSFA Action: OSFA returns promissory note to school. Report Text: The last name reported on the promissory note does not match information on OSFA s database. Please submit a new promissory note with correct last name or contact OSFA. 04. Address on prom note shows state other than MA or is incomplete OSFA Action: OSFA sends error report to school or school accesses error message on the web Report Text: The address provided on prom note lists a state other than MA or is incomplete. Please provide a complete and permanent Massachusetts address for borrower. 05. Borrower s Name, Address or Phone Number Incomplete on Prom Note OSFA Action: OSFA sends error report to school or school accesses error message on the web. Report Text: The Borrower Address information on promissory note is incomplete. Please provide full address and/or phone number information for borrower. 06. Dependency status information on prom note does not match NIL Roster or is missing OSFA Action: OSFA sends error report to school or school accesses error message on the web Report Text: Dependency status on prom note is missing or does not match NIL Roster. Please review and provide correct information or contact OSFA 07. OE Code on prom note does not match information on OSFA s database OSFA Action: OSFA sends error report to school or school accesses error message on the web Report Text: OE Code provided on prom note does not match information on OSFA s database. Please submit a paper or electronic Transfer request for borrower, using MASSGrant /NIL Transfer Request Form. 08. Loan period Begin Date does not match or missing OSFA Action: OSFA sends error report to school or school accesses error message on web Report Text: The loan period Begin Date provided is invalid or incomplete. Please submit correct/complete date or contact OSFA 09. Loan Period End Date > June 30 OSFA Action: OSFA sends error report to school or school accesses error message on web. 32

37 Report Text: The loan period End Date provided is invalid or incomplete. Please submit correct/complete date or contact OSFA. The NIL processing cycle is from August 1 to June Loan Period Begin/End Dates Not in Current Academic Year OSFA Action: OSFA sends error report to school or school accesses error message on web Report Text: The NIL processing cycle is from August 1 to June 30. Please submit new loan period that fits within the above dates. 11. No Loan Period Information Provided OSFA Action: OSFA sends error report to school or school accesses error message on web Report Text: No loan period information was provided on the prom note. Please provide full and correct loan period information to OSFA 12. Loan Start Date and End Date Span < 45 Days OSFA Action: OSFA sends error report to school or school accesses error message on web Report Text: The loan period is invalid. Please provide a loan period of 45 days or more 13. Prom Note Received Date > Loan Period End Date OSFA Action: Promissory Note is returned to school Report Text: Prom Note received after expiration of loan period end date 14. Graduation Date is prior to Loan Period End Date OSFA Action: OSFA sends error report to school or school accesses error message on web Report Text: The Anticipated Graduation Date is prior to the Loan Period end date. Please provide correct graduation date. 15. Graduation Date Missing or Incomplete OSFA Action: OSFA sends error report to school or school accesses error message on web Report Text: The Graduation date is missing or incomplete. Please provide correct graduation date 16. Loan Increase Box Checked but no Prior Loan in Current Year OSFA Action: OSFA sends error report to school or school accesses error message on web Report Text: The Loan Increase box on prom note has been checked, but there is no prior loan. in current year. Please advise or contact OSFA 17. Loan Increase Box not Checked but Prior Loan in Current Year OSFA Action: OSFA sends error report to school or school accesses error message on web Report Text: The Loan Increase box on prom note was not checked, but there is a prior loan in current year. Please advise or contact OSFA 18. Loan Increase Amount Exceeds NIL Annual Loan Limit OSFA Action: OSFA returns prom note to school Report Text: The loan amount is greater than the maximum loan amount permitted by the program. Please review and submit a new promissory note 19. Loan Increase Amount Less Than Minimum Amount Allowed OSFA Action: OSFA returns promissory note to school 33

38 Report Text: The Loan Increase amount is less than the minimum required. Please review and submit new promissory note. 20. Loan Amount Not Equal To Amount Financed and Total of Payments Amounts OSFA Action: OSFA returns promissory note to school Report Text: The Amount provided on promissory note does not match the Amount Financed and/or Total of Payments. Please submit a new promissory note. 21. Loan Amount Is Less Than The Minimum OSFA Action: OSFA returns promissory note to school Report Text: The loan amount is less than the minimum allowed. Please review and submit a new promissory note. 22. Loan Amount Exceeds Current Eligibility Amount OSFA Action: OSFA returns promissory note to school Report Text: The loan on the prom note is greater than the current eligibility amount. Please review and submit a new promissory note. 23. Loan Amount Exceeds Program s Lifetime Limit OSFA Action: OSFA returns promissory note to school Report Text: The Loan amount on prom note exceeds the NIL program lifetime s limit. Please review and submit a new promissory note. 24. Loan Amount Is Missing OSFA Action: OSFA returns promissory note to school. Report Text: The loan amount field is blank on promissory note. Please review, complete and re-submit. 25. Loan Amount Has Been Altered OSFA Action: OSFA returns promissory note to school Report Text: The loan amount field on prom note has been altered. Please submit new promissory note. 26. Disbursement Date Not Within Current Academic Year OSFA Action: OSFA returns promissory note to school. Report Text: The Disbursement Date(s) provided do not fall within NIL processing year of August 1 June 30. Please correct and submit. 27. Loan Period >155 Days. 2 or More Disbursements Required OSFA Action: OSFA returns promissory note to school. Report Text: Loan Period is greater than 155 days. Please indicate another disbursement date (Fall/Spring/Summer) and/or preferred disbursement date. 28. Signature of School Official Missing on Prom Note OSFA Action: OSFA returns promissory note to school. Report Text: The prom note was not signed by a school official. Please complete and re-submit. 29. School Official s Name and Title Not Provided on Promissory Note OSFA Action: OSFA returns promissory note to school. Report Text: The name and title of school official who authorizes NIL loans need to be provided. Please complete and 34 re

39 -submit. 30. School s Current Year Allocation Has Been Exhausted OSFA Action: OSFA sends error report to school or school accesses error message on web. Report Text: Your institution s current year allocation has been exhausted. Please contact OSFA if you have any questions. 31. Missing or Incomplete Borrower Address OSFA Action: Report Text: OSFA returns prom note to school. The information provided on prom note is incomplete 32. Missing or Incomplete References OSFA Action: OSFA returns prom note to school. Report Text: The reference information provided on prom note is incomplete. Please provide 2 references at different addresses and phone numbers and re-submit completed prom note. 33. Student Listed Himself/Herself as a Reference OSFA Action: OSFA returns promissory note to school. Report Text: Student cannot use himself/herself as a reference. Please provide another reference at different address and phone number and re-submit completed prom note. 34. Both References on Promissory Note Have Same Address OSFA Action: OSFA returns prom note to school. Report Text: The 2 references provided on prom note have the same address and/or phone number. Please submit a new promissory note with 2 different addresses and phone numbers. 35. No Borrower Signature Provided on Prom Note OSFA Action: OSFA returns prom note to school. Report Text: The promissory note is not signed and/or dated by the borrower. Please have the borrower sign and date the enclosed promissory note. 36. Borrower s Signature Illegible or Incomplete OSFA Action: OSFA returns prom note to school. Report Text: The borrower s signature is illegible or does not match the borrower s legal name. Please have the borrower sign the enclosed promissory note again and return it with proof of signature. 37. Ineligible Due to NIL Loan Default OSFA Action: OSFA sends error report to school or school accesses error message on the web. Report Text: Borrower is currently ineligible to a default status on a previous NIL loan. Please have borrower contact the NIL loan servicing agency, ECSI at Invalid Promissory Note OSFA Action: OSFA returns promissory note to school. Report Text: The promissory note submitted is no longer in use. Please submit the newest version of the promissory note. 39. Promissory Note Printed on Plain Paper OSFA Action: OSFA returns promissory note to school. Report Text: The promissory note was printed on plain white paper. Please re-print onto promissory note printing paper, complete and submit Original Copy of note to OSFA. 35

40 40. School s Copy of Promissory Note Submitted OSFA Action: OSFA returns promissory note to school. Report Text: School s Copy of promissory note submitted. Please submit fully completed Original Copy of promissory note to OSFA. 41. Borrower s Copy of Promissory Note Submitted OSFA Action: OSFA returns promissory note to school. Report Text: Borrower s Copy of promissory note submitted. Please submit fully completed Original Copy of promissory note to OSFA. 42. Borrower s Private Education Loan Self Certification Form Not Submitted with Promissory Note OSFA Action: OSFA returns promissory note to school. Report Text: Private Education Loan Self Certification Form not submitted. Please fully complete and submit with Promissory note to OSFA. 43. Error Not Resolved by School by End of Academic Year OSFA Action: OSFA sends error report to school or school accesses error message on the web. Report Text: Loan cancelled due to unresolved errors and/or borrower ineligibility at the end of the NIL processing season. 44. Loan Application Cancelled at School s Request OSFA Action: OSFA sends error report to school or school accesses error message on the web. Report Text: The borrower s prom note has been cancelled at the school s request. 99. Operator Assigned. Free Text EXHIBIT D 36

41 Massachusetts No Interest Loan Programs 454 Broadway, Suite 200 Revere, Massachusetts Promissory Note Correction Form Borrower Information Name: Social Security # - - School Name: OE Code: Loan Period Corrections REVISED LOAN PERIOD Loan Complete Period if the Loan Corrections Period on the promissory note was: REVISED LOAN PERIOD Complete Left if the Blank Loan (Error Period message on the 11) promissory note was: Left Not Blank Within (Error Academic message Year (Error 11) message 10) FROM / / TO _/ / FROM / / MM / DD / YYYY TO / / MM / DD / YYYY Not Less Within than 45 Academic days (Error Year message (Error 12) message 10) MM / DD / YYYY MM / DD / YYYY Less Loan than Period 45 Start days Date (Error End message Date Missing/Invalid 12) (Error messages 08, 09) Loan Period Start Date or End Date Missing/Invalid (Error messages 08, 09) Graduation Date Corrections Date Corrections Complete if Graduation Date provided on promissory note was Missing and/or Invalid or Prior to Loan Period End Date. Complete (Error messages if Graduation 14, 15) Date provided on promissory note was Missing and/or Invalid or Prior to Loan Period End Date. (Error messages 14, 15) REVISED GRADUATION DATE REVISED GRADUATION DATE / / / /_ MM / DD / YYYY MM DD YYYY Loan Increase Box Corrections Choose Loan Increase one. Box Corrections Choose one. The Increase Box on the promissory note was checked but the borrower has not received loan for the current year. Therefore, LOAN The Increase IS NOT Box AN on INCREASE. the promissory (Error note message was checked 16). but the borrower has not received a loan for the current year. Therefore, LOAN IS NOT AN INCREASE. (Error message 16). The Increase Box on the promissory note was not checked but borrower has already received loan for the current year. Therefore, The Increase LOAN IS Box AN on INCREASE. the promissory (Error note message was not 17). checked but borrower has already received a loan for the current year. Therefore, LOAN IS AN INCREASE. (Error message 17). Borrower Address Corrections Complete if borrower s address information on promissory note listed a state other than MA or was incomplete. Please provide complete MA address and phone number information for the borrower. (Error messages 04, 05) NAME HOME ADDRESS CITY, STATE, ZIP AREA CODE TELEPHONE ( ) Dependency Status Corrections Complete if Dependency Status on prom note was left blank or does not match NIL Roster. (Error Message 06). Please indicate borrower s Dependency status in the box. Cancellation of a Pending Promissory Note Please cancel the pending promissory note for the borrower. Use this option if you are unable to resolve issues that prevent a borrower s promissory note from being approved and wish to have the funds returned to your institution s NIL allocation. Other: Use this section to submit information to OSFA not specified above. School official completing this form: 37 EXHIBIT E

42 Insert NIL payment roster EXHIBIT F 38

43 MASSACHUSETTS NO INTEREST LOAN NO INTEREST LOAN ENTRANCE INTERVIEW The Massachusetts No Interest Loan does not charge interest. The borrower only repays the principal amount. Pay- ment is made directly to the Commonwealth of Massachusetts or its designated servicer. Borrowers receive a 6-month grace period The minimum monthly payment is $50 The maximum length of repayment is 10 years You will receive repayment information during your grace period Borrower will receive loan disclosure information The borrower may be eligible for a DEFERMENT (for a total of 36 months) if the borrower: Enrolls at least half-time in an eligible degree or certificate program Is unemployed (Limit to a total of 3 years). Documentation is required. Has long term illness or disability. Documentation is required. Is a member of the US Armed Forces, commissioned in the corps of the US Public Health Service or an active duty member of the National Oceanic and Atmospheric Corps. Joins a volunteer service such as the Peace Corps, ACTION programs, or comparable full-time volunteer work for specific tax-exempt organizations. DEFAULT occurs when the borrower does not repay his/her Massachusetts No Interest Loan. Default can result in: Disclosure of borrower s default to schools and colleges attended or attending Ineligibility to receive financial aid from all Commonwealth of Massachusetts financial aid programs Reporting of borrowers loan information to national credit bureaus Difficulty in obtaining credit cards, car loans, home mortgages, or other forms of consumer credit Potential denial of future financial aid from federal, state and private sources I have read and understood the above information. I further understand that I may contact my financial aid office or the Massachusetts Office of Student Financial Assistance ( ) if I have any questions regarding my Massachusetts No Interest Loan PRINTED NAME SOCIAL SECURITY NUMBER ( ) ADDRESS PHONE SIGNATURE DATE MASSACHUSETTS NO INTEREST LOAN REFUND FORM 39

44 SCHOOL NAME: OE CODE: STUDENT NAME SS # SEMESTER & YEAR REFUND AMOUNT REASON DATE OF WITHDRAWAL TOTAL CHECK INFORMATION: AMOUNT OF REFUND $ DATE: CK# SIGNATURE AND DATE TITLE PRINTED NAME: PHONE # PLEASE RETURN TO: MASSACHUSETTS OFFICE OF STUDENT FINANCIAL ASSISTANCE 454 BROADWAY, SUITE 200 REVERE, MA EXHIBIT H

45 MASSACHUSETTS NO INTEREST LOAN DEOBLIGATION FORM Institution Name: OE Code: No Interest Loan Allocation: $ No Interest Loan Allocation Used to Date: $ Amount of No Interest Loan Allocation De-Obligating $ Signature: Date: Print Name: Telephone: Please return via mail or fax to: Massachusetts Office of Student Financial Assistance 454 Broadway, Suite 200 Revere, MA phone facsimile EXHIBIT I [Type text]

46 [Type text]

47 [Type text]

Commonwealth of Massachusetts. Office of Student Financial Assistance STATE FINANCIAL AID PROGRAMS GUIDELINES AND PROCEDURES

Commonwealth of Massachusetts. Office of Student Financial Assistance STATE FINANCIAL AID PROGRAMS GUIDELINES AND PROCEDURES Commonwealth of Massachusetts Office of Student Financial Assistance STATE FINANCIAL AID PROGRAMS GUIDELINES AND PROCEDURES 2014-2015 Massachusetts Assistance for Student Success Program Table of Contents

More information

Rules Governing the. Forgivable Education Loans for Service Program

Rules Governing the. Forgivable Education Loans for Service Program Rules Governing the Forgivable Education Loans for Service Program A Program of the State of North Carolina Administered by the State Education Assistance Authority 10 T.W. Alexander Drive P. O. Box 13663

More information

RULES GOVERNING THE PHYSICAL EDUCATION-COACHING SCHOLARSHIP LOAN PROGRAM

RULES GOVERNING THE PHYSICAL EDUCATION-COACHING SCHOLARSHIP LOAN PROGRAM RULES GOVERNING THE PHYSICAL EDUCATION-COACHING SCHOLARSHIP LOAN PROGRAM A Program of the State of North Carolina Administered by the State Education Assistance Authority 10 Alexander Drive P. O. Box 13663

More information

UA Scholars. University of Alaska Scholars Program. Program Information Booklet

UA Scholars. University of Alaska Scholars Program. Program Information Booklet UA Scholars University of Alaska Scholars Program Program Information Booklet Important Dates and Deadlines High Schools: October 1- Deadline to complete the online designation process Scholars: May 1-

More information

TITLE 133 LEGISLATIVE RULE WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION SERIES 34 MEDICAL STUDENT LOAN PROGRAM

TITLE 133 LEGISLATIVE RULE WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION SERIES 34 MEDICAL STUDENT LOAN PROGRAM TITLE 133 LEGISLATIVE RULE WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION SERIES 34 MEDICAL STUDENT LOAN PROGRAM 133-34-1. General. 133-34-2. Purpose. 1.1. Scope. -- This rule promulgates policy and

More information

RULES GOVERNING THE FUTURE TEACHERS OF NORTH CAROLINA SCHOLARSHIP LOAN FUND

RULES GOVERNING THE FUTURE TEACHERS OF NORTH CAROLINA SCHOLARSHIP LOAN FUND RULES GOVERNING THE FUTURE TEACHERS OF NORTH CAROLINA SCHOLARSHIP LOAN FUND A Program of the State of North Carolina Administered by the State Education Assistance Authority 10 Alexander Drive P. O. Box

More information

William D. Ford Federal Direct Loan Program Direct PLUS Loan Borrower s Rights and Responsibilities Statement

William D. Ford Federal Direct Loan Program Direct PLUS Loan Borrower s Rights and Responsibilities Statement Important Notice: This Borrower s Rights and Responsibilities Statement provides additional information about the terms and conditions of the loans you receive under the accompanying Federal Direct PLUS

More information

Terms and Conditions of Title IV, HEA Loans

Terms and Conditions of Title IV, HEA Loans 10.3.4 Federal Direct Subsidized Stafford Loan Program The Federal Subsidized Stafford Loan Program provides low interest deferred payment loans to undergraduate and graduate students who demonstrate financial

More information

Financial Aid. Eligibility for Financial Aid. Applying for Financial Aid

Financial Aid. Eligibility for Financial Aid. Applying for Financial Aid Financial Aid Financial Aid Office 617.873.0440 financialaidweb@cambridgecollege.edu www.cambridgecollege.edu/financial-aid Financial aid is available for our students who qualify, to assist in financing

More information

CHAPTER 15. STUDENT FINANCIAL AID

CHAPTER 15. STUDENT FINANCIAL AID Updated to regulations to reflect Chapter 89 SLA 14. Eff. 02/22/2015 CHAPTER 15. STUDENT FINANCIAL AID Article 1. Education Loans (20 AAC 15.010 20 AAC 15.085) 2. AlaskAdvantage Federal Consolidation Loan

More information

Administrative Policies Board of Governors Medical Scholarship Loan Program

Administrative Policies Board of Governors Medical Scholarship Loan Program Administrative Policies Board of Governors Medical Scholarship Loan Program A Program of the State of North Carolina Administered by the State Education Assistance Authority 10 Alexander Drive P. O. Box

More information

APPLYING FOR FINANCIAL AID

APPLYING FOR FINANCIAL AID APPLYING FOR FINANCIAL AID Application Steps 1. Gather documents to complete FAFSA. a. Student, Spouse, and Parent (if dependent) Federal Tax Forms b. W-2 Forms c. Records of untaxed income d. Current

More information

MILITARY DEPENDENTS SCHOLARSHIP PROGRAM RULES AND REGULATIONS

MILITARY DEPENDENTS SCHOLARSHIP PROGRAM RULES AND REGULATIONS MILITARY DEPENDENTS SCHOLARSHIP PROGRAM RULES AND REGULATIONS RULE 1 ORGANIZATION AND STRUCTURE I. The Arkansas Department of Higher Education shall administer the Military Dependents Scholarship Program

More information

2011-2012. FINANCIAL AID HANDBOOK for the PRACTICAL NURSING PROGRAM

2011-2012. FINANCIAL AID HANDBOOK for the PRACTICAL NURSING PROGRAM 2011-2012 FINANCIAL AID HANDBOOK for the CENTRAL PENNSYLVANIA INSTITUTE OF SCIENCE AND TECHNOLOGY 540 N Harrison Road Pleasant Gap, PA 16823 (814) 359-2582 TABLE OF CONTENTS SUBJECT Page # Financial Information

More information

FINANCIAL AID. Application Process. Awarding Process. 26 UTPB 2009-2011 Undergraduate Catalog

FINANCIAL AID. Application Process. Awarding Process. 26 UTPB 2009-2011 Undergraduate Catalog Application Process FINANCIAL AID The University of Texas of the Permian Basin encourages students who wish to attend the university and who do not have the financial resources available to pay the cost

More information

Higher Education Chapter 300-4-6 ALABAMA COMMISSION ON HIGHER EDUCATION STUDENT ASSISTANCE ADMINISTRATIVE CODE

Higher Education Chapter 300-4-6 ALABAMA COMMISSION ON HIGHER EDUCATION STUDENT ASSISTANCE ADMINISTRATIVE CODE Higher Education Chapter 300-4-6 ALABAMA COMMISSION ON HIGHER EDUCATION STUDENT ASSISTANCE ADMINISTRATIVE CODE CHAPTER 300-4-6 STATE OF ALABAMA CHIROPRACTIC SCHOLARSHIP PROGRAM TABLE OF CONTENTS 300-4-6-.01

More information

62-250 to 62-263. South Carolina National Guard College Assistance Program Regulations and Procedures

62-250 to 62-263. South Carolina National Guard College Assistance Program Regulations and Procedures COMMISSION ON HIGHER EDUCATION CHAPTER 62 Statutory Authority: 1976 Code Section 59-114-75 62-250 to 62-263. South Carolina National Guard College Assistance Program Regulations and Procedures Text: 62-250.

More information

TITLE 133 LEGISLATIVE RULE WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION

TITLE 133 LEGISLATIVE RULE WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION TITLE 133 LEGISLATIVE RULE WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION SERIES 28 WEST VIRGINIA ENGINEERING, SCIENCE AND TECHNOLOGY SCHOLARSHIP PROGRAM 133-28-1. General. 1.1. Scope. -- This rule clarifies

More information

Financial Aid Guide. School Code: 003732

Financial Aid Guide. School Code: 003732 Radford University Financial Aid Guide School Code: 003732 Table of Contents The Purpose and Benefit of a Booklet... 2 Getting Started... 2 What is Financial Aid... 2 Cost of Attendance... 3 Financial

More information

Guide to Financing Your Williams College Education 2015-2016

Guide to Financing Your Williams College Education 2015-2016 Guide to Financing Your Williams College Education 2015-2016 Choosing the Best Way to Finance Your Education Whether you applied for financial aid or not, there are several ways to address the balance

More information

FINANCIAL AID HANDBOOK for the PRACTICAL NURSING PROGRAM

FINANCIAL AID HANDBOOK for the PRACTICAL NURSING PROGRAM 2014 FINANCIAL AID HANDBOOK for the The Central PA Institute of Science and Technology does not discriminate on the basis of race, color, national origin, sex, disability or age in its programs or activities

More information

Firemen s Association of the State of New York Higher Education Learning Plan (HELP) FASNY HELP HANDBOOK

Firemen s Association of the State of New York Higher Education Learning Plan (HELP) FASNY HELP HANDBOOK Firemen s Association of the State of New York Higher Education Learning Plan (HELP) FASNY HELP HANDBOOK Pursuant to the US Department of Homeland Security s Staffing For Adequate Fire & Emergency Response

More information

Health Professions Student Loan Application

Health Professions Student Loan Application Health Professions Student Loan Application Directions: Complete all pages of the enclosed Health Professions Student Loan Application. Do not leave any answers blank use N/A if not applicable. Please

More information

Financial Aid @ Austin Grad Overview & Policies

Financial Aid @ Austin Grad Overview & Policies Financial Aid @ Austin Grad Overview & Policies Financial Aid Director Dave Arthur (512) 476-2772 x 105 darthur@austingrad.edu CONTENTS Financing your Austin Grad Education 2 The FAFSA 3 Helpful websites

More information

2016-2017 FINANCIAL AID GUIDE For Graduate Students (As of 05/04/2016)

2016-2017 FINANCIAL AID GUIDE For Graduate Students (As of 05/04/2016) 2016-2017 FINANCIAL AID GUIDE For Graduate Students (As of 05/04/2016) HOW TO USE THIS GUIDE The purpose of this guide is to assist you with understanding important information about the financial aid

More information

University of Phoenix offers students a variety of

University of Phoenix offers students a variety of UNIVERSITY OF PHOENIX ONLINE University of Phoenix offers students a variety of ways to finance their educational costs. Available finance plans allow students to select payment options that meet their

More information

Financial Aid Handbook

Financial Aid Handbook THOMAS EDISON STATE UNIVERSITY 2015-2016 Financial Aid Handbook 111 W. State St. Trenton, NJ 08608 www.tesu.edu Dear Financial Aid Applicant: Attached is the Thomas Edison State University Application

More information

ARTICLE 1 ADMINISTRATION

ARTICLE 1 ADMINISTRATION CHAPTER 15A STUDENT FINANCIAL ASSISTANCE PROGRAMS SOURCE: Entire chapter added by P.L. 31-237:2 (Dec. 6, 2012). 2012 NOTE: P.L. 31-237:3, provides: Section 3. Sunset Provision. After Award Year 2012-2013,

More information

Labette Community College 200 South 14 th Parsons, KS 67357 (620) 421-6700 www.labette.edu STUDENTS FINANCIAL AID RIGHTS & RESPONSIBILITIES

Labette Community College 200 South 14 th Parsons, KS 67357 (620) 421-6700 www.labette.edu STUDENTS FINANCIAL AID RIGHTS & RESPONSIBILITIES Labette Community College 200 South 14 th Parsons, KS 67357 (620) 421-6700 www.labette.edu STUDENTS FINANCIAL AID RIGHTS & RESPONSIBILITIES Students who have applied for financial assistance must READ

More information

Counselor and School Administrator Loan/Scholarship Program (CSA) RULES AND REGULATIONS

Counselor and School Administrator Loan/Scholarship Program (CSA) RULES AND REGULATIONS Board of Trustees of State Institutions of Higher Learning Counselor and School Administrator Loan/Scholarship Program (CSA) RULES AND REGULATIONS These Rules and Regulations are subject to change by the

More information

Financial Aid Consumer Information

Financial Aid Consumer Information Financial Aid Consumer Information In accordance with federal regulations set forth by the Higher Education Act of 1965, as amended, NCE provides this Student Disclosures Schedule as means to disseminate

More information

Financial Aid Guidebook: Understanding your Financial Aid Award

Financial Aid Guidebook: Understanding your Financial Aid Award Financial Aid Guidebook: Understanding your Financial Aid Award Financial Aid Guidebook:... 1 Understanding your Financial Aid Award... 1 Introduction... 4 How to Find Your Award on Joe SS... 4 Reviewing

More information

University of Phoenix offers students a variety of

University of Phoenix offers students a variety of University of Phoenix offers students a variety of ways to finance their educational costs. Available finance plans allow students to select payment options that meet their individual needs. This guide

More information

Family Protection Specialist Social Worker Loan/Scholarship Program (SWOR) RULES AND REGULATIONS

Family Protection Specialist Social Worker Loan/Scholarship Program (SWOR) RULES AND REGULATIONS Board of Trustees of State Institutions of Higher Learning Family Protection Specialist Social Worker Loan/Scholarship Program (SWOR) RULES AND REGULATIONS These Rules and Regulations are subject to change

More information

INFORMATION ABOUT THE FAITH A. FIELDS NURSING SCHOLARSHIP LOAN:

INFORMATION ABOUT THE FAITH A. FIELDS NURSING SCHOLARSHIP LOAN: INFORMATION ABOUT THE FAITH A. FIELDS NURSING SCHOLARSHIP LOAN: HOW DOES THE FAITH A. FIELDS NURSING SCHOLARSHIP LOAN WORK? Recipients may be qualified for loan cancellation at a rate of the full amount

More information

2015-2016. Your Guide To Financial Aid

2015-2016. Your Guide To Financial Aid 2015-2016 Your Guide To Financial Aid The Solution Center is available to assist all students regarding financial aid, registration, student records, and billing inquires. The Solution Center University

More information

Tips to Financial Aid

Tips to Financial Aid Tips to Financial Aid Definitions FAFSA The Free Application for Federal Student Aid is the official application for all types of federal aid, and some state and campus-based aid as well SAR The Student

More information

Financial Aid. Eligibility Requirements for Federal Student Aid. University of California, Irvine 2015-2016 1. On This Page:

Financial Aid. Eligibility Requirements for Federal Student Aid. University of California, Irvine 2015-2016 1. On This Page: University of California, Irvine 2015-2016 1 Financial Aid On This Page: Financial Aid Eligibility Requirements for Federal Student Aid UCI Policies on Satisfactory Academic Progress for Financial Aid

More information

4. If two or more eligible students have complete applications on the same date, single parent students will be funded first.

4. If two or more eligible students have complete applications on the same date, single parent students will be funded first. MN POSTSECONDARY CHILD CARE GRANT PROGRAM SCSU Financial Aid Office 106 Administrative Services Building St. Cloud State University 2015-2016 Application Procedures and Information Sheet 720 Fourth Avenue

More information

Winston-Salem State University Terms and Conditions of Financial Aid

Winston-Salem State University Terms and Conditions of Financial Aid Winston-Salem State University Terms and Conditions of Financial Aid Introduction The terms, you and your refer to the student. Per federal regulations, parents, spouses and other individuals are prohibited

More information

Financial Aid Handbook

Financial Aid Handbook THOMAS EDISON STATE COLLEGE 2015-2016 Financial Aid Handbook 101 W. State St. Trenton, NJ 08608-1176 www.tesc.edu Dear Financial Aid Applicant: Attached is the Thomas Edison State College Application for

More information

U.S. Financing Information

U.S. Financing Information U.S. Financing Information 1 U.S Financial Aid Planning to meet the costs of attending university is an investment for the future, and you may have many financing options, including grants, scholarships,

More information

FINANCIAL AID FEDERAL STUDENT AID. Undergraduate Students

FINANCIAL AID FEDERAL STUDENT AID. Undergraduate Students FINANCIAL AID Undergraduate Students FEDERAL STUDENT AID Students applying for Federal Student Aid funds must complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov each academic

More information

Financial Aid Terms and Conditions

Financial Aid Terms and Conditions Financial Aid Terms and Conditions Introduction Barstow Community College's Financial Aid programs stem from a belief that student aid services should facilitate and foster the successful academic participation

More information

Financial Aid Handbook

Financial Aid Handbook THOMAS EDISON STATE COLLEGE 2014-2015 Financial Aid Handbook 101 W. State St. Trenton, NJ 08608-1176 www.tesc.edu Dear Financial Aid Applicant: Attached is the Thomas Edison State College Application for

More information

How long will it take for my financial aid to be processed?

How long will it take for my financial aid to be processed? 1 FREQUENTLY ASKED QUESTIONS FINANCIAL AID PROCESS When should I apply for financial aid? Generally, Student Financial Services suggests a student apply for aid a minimum of 90 days prior to the beginning

More information

CONSUMER INFORMATION

CONSUMER INFORMATION CONSUMER INFORMATION To help students meet the financial obligations of college attendance, Mohave Community College administers a varied and comprehensive financial aid program. Financial aid is designed

More information

A-State Online Financial Aid Policies Arkansas State University

A-State Online Financial Aid Policies Arkansas State University Types of Aid A-State Online Financial Aid Policies Arkansas State University Financial aid in the form of the below, grants and loans, are processed for degree-seeking A-State Online participants in the

More information

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement Important Notice: This Borrower s Rights and Responsibilities Statement provides additional information about the terms and conditions of the loans you receive under the accompanying Master Promissory

More information

2014-2015 MSSU FINANCIAL AID HANDBOOK

2014-2015 MSSU FINANCIAL AID HANDBOOK 2014-2015 MSSU FINANCIAL AID HANDBOOK INTRODUCTION Thank you for your interest in the financial aid programs at Missouri Southern State University. This handbook describes various sources of federal Title

More information

2015/2016 THINGS YOU NEED TO KNOW ODP Graduate. The following information should help you as you review your 2015/2016 Financial Aid Offer

2015/2016 THINGS YOU NEED TO KNOW ODP Graduate. The following information should help you as you review your 2015/2016 Financial Aid Offer 2015/2016 THINGS YOU NEED TO KNOW ODP Graduate Financial Aid Online Degree Programs 2130 Fulton Street San Francisco, CA 94117 Tel: 415.422.4531 Fax: 415.422.4534 onlinefinaid@usfca.edu The following information

More information

A Guide to Your Financial Aid Award >>>

A Guide to Your Financial Aid Award >>> A Guide to Your Financial Aid Award >>> 2012 2013 Contents 1 3 Important Information for All Students Who to Contact How Your Award Was Determined How to Accept Your Award 3 5 How to Determine Your Bill

More information

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement Important Notice: This Borrower s Rights and Responsibilities Statement provides additional information about the terms and conditions of the loans you receive under the accompanying Master Promissory

More information

Important Information For New Students 2013-2014 FINANCIAL AID

Important Information For New Students 2013-2014 FINANCIAL AID Important Information For New Students 2013-2014 FINANCIAL AID General Information The response to your request for financial aid for the 2013-2014 academic year is a result of our evaluation of your family

More information

Georgia College Perkins Loan Program

Georgia College Perkins Loan Program Georgia College Perkins Loan Program General Information The Federal Perkins Loan is a federally funded loan intended to assist needy students in financing the costs of post secondary education. It is

More information

Federal Aid Student Application Guide 2015-2016

Federal Aid Student Application Guide 2015-2016 Federal Aid Student Application Guide 2015-2016 University of Limerick Version 4, May 2015 1 Introduction Federal Aid at the University of Limerick 2015-2016 As of July 2010, UL transitioned from the Federal

More information

EXIT INTERVIEW PACKET

EXIT INTERVIEW PACKET EXIT INTERVIEW PACKET Please complete the enclosed paperwork to satisfy your Exit Interview requirement. The following areas must be completed: The Exit Interview Questionnaire. All Personal Information,

More information

Nursing Education Loan/Scholarship Program BSN (NELB), RN to BSN (NELR), MSN (NELM), RN to MSN (NERM), Ph.D./DNP (NELP)

Nursing Education Loan/Scholarship Program BSN (NELB), RN to BSN (NELR), MSN (NELM), RN to MSN (NERM), Ph.D./DNP (NELP) Board of Trustees of State Institutions of Higher Learning Nursing Education Loan/Scholarship Program BSN (NELB), RN to BSN (NELR), MSN (NELM), RN to MSN (NERM), Ph.D./DNP (NELP) RULES and REGULATIONS

More information

DIRECT LOAN ENTRANCE COUNSELING SESSION

DIRECT LOAN ENTRANCE COUNSELING SESSION DIRECT LOAN ENTRANCE COUNSELING SESSION LOAN SESSION PACKET To receive credit for being here today, you must: Complete your Attendance Form. Your personal information Name as is on your SS card Verify

More information

FINANCIAL AID. Applying for Federal Financial Aid. Eligibility for Federal and State Financial Aid

FINANCIAL AID. Applying for Federal Financial Aid. Eligibility for Federal and State Financial Aid 16 Financial Aid FINANCIAL AID Columbia College s financial aid program exists to make education affordable for all students who qualify. The College believes that if students desire to attend college

More information

Educational Loans A Family s Most Important Resource

Educational Loans A Family s Most Important Resource Educational Loans A Family s Most Important Resource Welcome to the Educational Loans section of our Website, and join us for an overview of one topic that most college students have to consider while

More information

FINANCIAL AID POLICY

FINANCIAL AID POLICY FINANCIAL AID POLICY Debutantes School of Cosmetology and Nail Technology, LLC (Federal school code 042299) is an approved institution in disbursement of Title IV funds for our cosmetology program. A financial

More information

Your Guide to Financial Aid

Your Guide to Financial Aid Your Guide to Financial Aid www.umassd.edu/financialaid Table of Contents 2 Determining Your Financial Aid Eligibility 4 Your Financial Aid Award 5 Grants, Scholarships & Waivers 6 Federal Work-Study &

More information

Post-Professional Master of Science Occupational Therapy

Post-Professional Master of Science Occupational Therapy Loans at Boston University Boston University accepts federal financial aid including federal student loans as well as private educational loans. Students are required to apply for loans to cover tuition

More information

THE FINANCIAL AID PROCESS FOR THE 2015-2016 ACADEMIC YEAR STUDENT CHECK LIST...

THE FINANCIAL AID PROCESS FOR THE 2015-2016 ACADEMIC YEAR STUDENT CHECK LIST... CHICAGO STATE UNIVERSITY Office of Student Financial Aid 9501 South King Drive Cook Administration Building Room 207 Chicago, Illinois 60628-1598 Telephone: 773-995-2304 Fax: 773-995-3574 E-mail: csu-finaid@csu.edu

More information

Mississippi Teacher Loan Repayment Program (MTLR) RULES AND REGULATIONS

Mississippi Teacher Loan Repayment Program (MTLR) RULES AND REGULATIONS Board of Trustees of State Institutions of Higher Learning Mississippi Teacher Loan Repayment Program (MTLR) RULES AND REGULATIONS These Rules and Regulations are subject to change by the Board of Trustees

More information

The Commonwealth of Massachusetts AUDITOR OF THE COMMONWEALTH

The Commonwealth of Massachusetts AUDITOR OF THE COMMONWEALTH The Commonwealth of Massachusetts AUDITOR OF THE COMMONWEALTH ONE ASHBURTON PLACE, ROOM 1819 BOSTON, MASSACHUSETTS 02108 A. JOSEPH DeNUCCI AUDITOR TEL. (617) 727-6200 NO. 2008-1461-3A INDEPENDENT STATE

More information

William D. Ford Federal Direct Loan Program Direct PLUS Loan Borrower s Rights and Responsibilities Statement

William D. Ford Federal Direct Loan Program Direct PLUS Loan Borrower s Rights and Responsibilities Statement Important Notice: This Borrower s Rights and Responsibilities Statement provides additional information about the terms and conditions of the loans you receive under the accompanying Federal Direct PLUS

More information

Fees and Financial Aid

Fees and Financial Aid Fees and Financial Aid Student Costs and Student Fees All fees and all policies governing the refund of fees are subject to change by the Board of Regents, State of Iowa. Current information on tuition,

More information

Speech-Language Pathologist Forgivable Loan Program (SLPL) RULES AND REGULATIONS

Speech-Language Pathologist Forgivable Loan Program (SLPL) RULES AND REGULATIONS Mississippi Postsecondary Education Financial Assistance Board Speech-Language Pathologist Forgivable Loan Program (SLPL) RULES AND REGULATIONS These Rules and Regulations are subject to change by the

More information

Purpose of Mandatory and Discretionary Tuition and Fee Waivers

Purpose of Mandatory and Discretionary Tuition and Fee Waivers Purpose of Mandatory and Discretionary Tuition and Fee Waivers Tuition and fee waivers are an agreement between the student and the university to reduce or eliminate tuition and/or fees. All Illinois public

More information

Registered Nursing (Fast-Track) Service Cancelable Loan Program REGULATIONS. 2007-2008 Award Year

Registered Nursing (Fast-Track) Service Cancelable Loan Program REGULATIONS. 2007-2008 Award Year Registered Nursing (Fast-Track) Service Cancelable Loan Program REGULATIONS 2007-2008 Award Year July 1, 2007 Georgia Student Finance Commission 2082 East Exchange Place, Suite 200 Tucker, Georgia 30084

More information

Part 679: Speech-Language Pathologist Forgivable Loan Program (SLPL)

Part 679: Speech-Language Pathologist Forgivable Loan Program (SLPL) Title 10: Education Institutions and Agencies Part 679: Speech-Language Pathologist Forgivable Loan Program (SLPL) Part 679 Chapter 1: Speech-Language Pathologist Forgivable Loan Program (SLPL) Rules and

More information

2015-2016 DIRECT LOAN APPLICATION PACKET

2015-2016 DIRECT LOAN APPLICATION PACKET 21193 Malta Rd, Malta IL 60150-9699 815-825-2086, ext. 2240 TTY: 815-825-9106 Fax: 815-825-2968finaid@kishwaukeecollege.edu 2015-2016 DIRECT LOAN APPLICATION PACKET The purpose of the Direct Loan Application

More information

Guidelines and Requirements in Applying for a Federal Direct Stafford Student Loan

Guidelines and Requirements in Applying for a Federal Direct Stafford Student Loan 2014-2015 Guidelines and Requirements in Applying for a Federal Direct Stafford Student Loan Entrance Counseling On Line: Go directly to www.studentloans.gov and use your PIN to sign in. If you need assistance

More information

Oklahoma s Promise Information for Financial Aid Officers

Oklahoma s Promise Information for Financial Aid Officers Oklahoma s Promise Information for Financial Aid Officers General Description of Program: Oklahoma s Promise (Oklahoma Higher Learning Access Program) provides awards equivalent to all or part of tuition

More information

Rules Governing the Education Lottery Scholarship Program

Rules Governing the Education Lottery Scholarship Program Rules Governing the Education Lottery Scholarship Program A Program of the State of North Carolina Administered by the State Education Assistance Authority 10 Alexander Drive P. O. Box 13663 Research Triangle

More information

Federal Student Aid Guide

Federal Student Aid Guide Federal Student Aid Guide 1011 Charles Blvd Ste A Greenville, NC 27858 Phone: 252-830-5536 Toll Free: 1-866-779-7752 Fax: 252-830-5537 info@alexanderpaulinstitute.com www.alexanderpaul.edu /alexanderpaul

More information

FINANCIAL AID AND SCHOLARSHIPS

FINANCIAL AID AND SCHOLARSHIPS 102 Financial Aid and Scholarships FINANCIAL AID AND SCHOLARSHIPS FINANCIAL AID Columbia College s financial aid program exists to make education affordable for all students who qualify. The College believes

More information

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement

William D. Ford Federal Direct Loan Program Direct Subsidized Loan and Direct Unsubsidized Loan Borrower s Rights and Responsibilities Statement Important Notice: This Borrower s Rights and Responsibilities Statement provides additional information about the terms and conditions of the loans you receive under the accompanying Master Promissory

More information

National Personal Training Institute

National Personal Training Institute National Personal Training Institute Financial Assistance Information School Location: 8500 Leesburg Pike Suite #308 Vienna, VA 22182 Phone# 703-531-0795 Fax # 703-531-0796 Prepared for Award Year: July

More information

FINANCIAL AID. Applying for Federal Financial Aid. Eligibility for Federal and State Financial Aid

FINANCIAL AID. Applying for Federal Financial Aid. Eligibility for Federal and State Financial Aid FINANCIAL AID Columbia College s financial aid program exists to make education affordable for all students who qualify. The College believes that if students desire to attend college they should not be

More information

2016-2017 DIRECT LOAN APPLICATION PACKET STEPS TO COMPLETE FOR A DIRECT STUDENT LOAN

2016-2017 DIRECT LOAN APPLICATION PACKET STEPS TO COMPLETE FOR A DIRECT STUDENT LOAN 21193 Malta Rd, Malta IL 60150-9699 815-825-2086, ext. 2240 TTY: 815-825-9106 Fax: 815-825-2968 finaid@kishwaukeecollege.edu 2016-2017 DIRECT LOAN APPLICATION PACKET The purpose of the Direct Loan Application

More information

Financial Aid Package

Financial Aid Package Financial Aid Package Understanding Your Financial Aid Graduate Students TABLE OF CONTENTS. Understanding Financial Aid for Graduate Students Page 1. William D. Ford Federal Direct Unsubsidized Loan Page

More information

Financial Aid Student Handbook 2010-2011

Financial Aid Student Handbook 2010-2011 Financial Aid Student Handbook 2010-2011 This information is designed to help you understand the types of financial assistance available to you during your time at The National Graduate School (NGS). NGS

More information

Small Business Innovative Research (SBIR) Small Business Technology Transfer (STTR) Fiscal Year 2016 Matching Grant Program Solicitation

Small Business Innovative Research (SBIR) Small Business Technology Transfer (STTR) Fiscal Year 2016 Matching Grant Program Solicitation Small Business Innovative Research (SBIR) Small Business Technology Transfer (STTR) Fiscal Year 2016 Matching Grant Program Solicitation Submission Dates: July 1, 2015, through June 30, 2016 Closing Date:

More information

University of North Georgia Military Scholarship Program REGULATIONS - 3100. 2015-2016 Award Year

University of North Georgia Military Scholarship Program REGULATIONS - 3100. 2015-2016 Award Year University of North Georgia Military Scholarship Program REGULATIONS - 3100. 2015-2016 Award Year Effective Date July 1, 2015 2082 East Exchange Place Tucker, Georgia 30084 3101. Table of Contents. Section

More information

Financial Aid. Financial Aid. Course Descriptions

Financial Aid. Financial Aid. Course Descriptions Monmouth University believes that financing a student s education should be a cooperative effort between the student and the institution. To that end, the staff of the Financial Aid Office is available

More information

ARKANSAS WORKFORCE IMPROVEMENT GRANT PROGRAM RULES AND REGULATIONS RULE 1 - ORGANIZATION AND STRUCTURE

ARKANSAS WORKFORCE IMPROVEMENT GRANT PROGRAM RULES AND REGULATIONS RULE 1 - ORGANIZATION AND STRUCTURE ARKANSAS WORKFORCE IMPROVEMENT GRANT PROGRAM RULES AND REGULATIONS RULE 1 - ORGANIZATION AND STRUCTURE I. The Arkansas Department of Higher Education shall administer the Arkansas Workforce Improvement

More information

GPS Financial Aid Application Packet

GPS Financial Aid Application Packet GPS Financial Aid Application Packet Averett University Graduate & Professional Studies (GPS) Program Financial Aid Office 420 West Main Street Danville, VA 24541-0670 1-800-AVERETT (283-7388) (434) 791-5647

More information

Financial Aid. of the total clock hours required to complete the course shall receive no refund.

Financial Aid. of the total clock hours required to complete the course shall receive no refund. of the total clock hours required to complete the course shall receive no refund. Noncredit Courses A. Students who officially withdraw from class one work day prior to the first class meeting shall receive

More information

FINANCIAL AID CONSUMER INFORMATION GUIDE 2015-2016 Award Year Revised 09/01/2015

FINANCIAL AID CONSUMER INFORMATION GUIDE 2015-2016 Award Year Revised 09/01/2015 FINANCIAL AID CONSUMER INFORMATION GUIDE 2015-2016 Award Year Revised 09/01/2015 You are responsible for reading this award guide. This information is essential to read and understand the terms and conditions

More information

23 ILLINOIS ADMINISTRATIVE CODE CH.XIX. SEC. 2765 ILLINOIS SPECIAL EDUCATION TEACHER TUITION WAIVER (SETTW) PROGRAM

23 ILLINOIS ADMINISTRATIVE CODE CH.XIX. SEC. 2765 ILLINOIS SPECIAL EDUCATION TEACHER TUITION WAIVER (SETTW) PROGRAM 23 ILLINOIS ADMINISTRATIVE CODE CH.XIX. SEC. 2765 TITLE 23: EDUCATION AND CULTURAL RESOURCES SUBTITLE A: EDUCATION CHAPTER XIX: ILLINOIS STUDENT ASSISTANCE COMMISSION PART 2765 Section 2765.10 Summary

More information

23 ILLINOIS ADMINISTRATIVE CODE CH. XIX, SEC. 2759 NURSE EDUCATOR SCHOLARSHIP PROGRAM

23 ILLINOIS ADMINISTRATIVE CODE CH. XIX, SEC. 2759 NURSE EDUCATOR SCHOLARSHIP PROGRAM 23 ILLINOIS ADMINISTRATIVE CODE CH. XIX, SEC. 2759 TITLE 23: EDUCATION AND CULTURAL RESOURCES SUBTITLE A: EDUCATION CHAPTER XIX: ILLINOIS STUDENT ASSISTANCE COMMISSION Section 2759.10 Summary and Purpose

More information

Department of Defense Information Assurance Scholarship Program. Sponsored by the. DoD Chief Information Officer

Department of Defense Information Assurance Scholarship Program. Sponsored by the. DoD Chief Information Officer Department of Defense Information Assurance Scholarship Program Sponsored by the DoD Chief Information Officer SOLICITATION FOR PROPOSALS From Universities Designated by the National Security Agency (NSA)

More information

U.S. Financing Information at

U.S. Financing Information at U.S. Financing Information at Contents Introduction 3 Glossary of Key Terms 4 Available US Loans 9 Eligibility and Assessment 10 Repayment: Options and Obligations 11 Refund and Return to Title IV Policy

More information

POLICY AND ADMINISTRATIVE PROCEDURE Manual of Policies and Procedures

POLICY AND ADMINISTRATIVE PROCEDURE Manual of Policies and Procedures State of Indiana 1 of POLICY AND ADMINISTRATIVE PROCEDURE Legal References (includes but is not limited to) IC 4-10-11-2 IC 4-13-1-4(7) IC 4-13-2-20 IC 11--2-5(a)() IC 11--2-5(a)(9) 42 IAC 1-5-1 Related

More information

TITLE 11 DEPARTMENT OF HEALTH CHAPTER 351 Nursing Student Loan Program

TITLE 11 DEPARTMENT OF HEALTH CHAPTER 351 Nursing Student Loan Program TITLE 11 DEPARTMENT OF HEALTH CHAPTER 351 Nursing Student Loan Program 11-351-1 Purpose 11-351-2 Definitions 11-351-3 Loan management 11-351-4 Loan funds 11-351-5 Purpose of loans 11-351-6 Eligibility

More information

Your comprehensive AMDA Financial Aid planning guide.

Your comprehensive AMDA Financial Aid planning guide. Your comprehensive AMDA Financial Aid planning guide. We know the financial aid process can sometimes be confusing, so we ve tried to make the process easier with this comprehensive guide. Simply follow

More information