Return to Title IV MASFAP Spring Conference March For Discussion Purposes Only 1. Return of Title IV Funds. Theory of the Calculation
|
|
- Colleen Gaines
- 8 years ago
- Views:
Transcription
1 Return to Title IV David A. Bartlett Federal Student Aid U.S. Department of Education MASFAP Spring 2013 Return of Title IV Funds Applies only to Title IV eligible students who begin attendance and then completely withdraw, or otherwise cease attending If student enrolled but never attended any classes: Student did not establish eligibility for any funds All Title IV aid disbursed must be returned to the programs Theory of the Calculation Student earns Title IV aid through attendance Percentage of aid earned is equal to the percentage of payment period or enrollment period completed If school has disbursed more aid than the student has earned, money is returned to the programs, or If school has disbursed less aid than the student has earned, a post-withdrawal disbursement will be calculated and if applicable funds disbursed to the student For Discussion Purposes Only 1
2 Institutional Refund Policy Your institutional refund policy has no impact on the Return of Title IV funds calculation Student still earns Title IV Aid for period attended even if school removes the charged tuition and fees R2T4 calculation supersedes your institutional refund policy Consumer Information School must provide to prospective students and current students Any refund policy with which the school must comply School s tuition refund policy Requirements of treatment of Title IV funds after withdrawal Procedures for official withdrawal R2T4 Calculation Timeframes Institutions are required to return funds to the applicable program within 45 days of the date of determination Two Main Deadlines Institutions are required to notify a student of the need for authorization to make a Post- Withdrawal Disbursement (PWD) of Title IV loan funds within 30 days of the date of determination (DOD). FSA Handbook Volume 5 For Discussion Purposes Only 2
3 Rounding Rules Dollar Amounts and Percentages Calculation - round to the nearest penny $2, x 44.6% = $1, or $1, $2, x 44.4% = $1, or $1, Disbursement or refund may be rounded to the nearest dollar $1, = $1,046 $1, = $1,042 Calculate out to 4 decimal places 45 days / 101 days = hours / 450 hours =.4422 Round to third decimal place.4455 =.446 = 44.6%.4422 =.442 = 44.2% Payment Period or Period of Enrollment Standard term-based program must use payment period Nonstandard term or nonterm program may choose either payment period or period of enrollment May choose on a program-by-program basis Must be consistent with application of method used Use consistently for each category of students who withdraw from same program of study and Attended from the beginning Re-enter during period Transfer into school during period Complete Top of Worksheet First HARRY SPRINGER X For Discussion Purposes Only 3
4 Aid That Could Have Been Disbursed (ATCHBD) Student met conditions for a late disbursement ( (g)(2)) At time student withdrew, ED had processed a SAR or ISIR with official EFC Pell ISIR with eligible EFC DL loan had been originated Promissory Note must be signed to be included as ATCHBD* TEACH grant had been originated Perkins/FSEOG funds had been awarded Perkins Loan Promissory Note must be signed to be included as ATCHBD* * The Promissory Note must be signed prior to the R2T4 Calculation being completed as described in GEN Step 1 Title IV Aid Information DL Second/Subsequent Disbursements Include as aid that could have been disbursed if student met the conditions for a late disbursement Cannot be included in any post-withdrawal disbursement [CFR (g)(4)(ii)] For Discussion Purposes Only 4
5 Date of Institution s Determination that Student Withdrew Schools required to take attendance should have a DOD no later than 14 calendar days after student s last date of attendance When did the school know of the student s withdrawal? If unofficial withdrawal, determine withdrawal date no later than 30 days after the end of the earlier of the 1. Payment period / period of enrollment, or 2. Academic year, or 3. Educational program Step 2 Withdrawal Date School Not Required to Take Attendance Use the earlier of date student began school s withdrawal process; or date student otherwise provided official notice; or midpoint in period (if student didn t notify school); or if student didn t notify due to circumstances beyond student s control, the date related to that circumstance; or Date school determines leave began (if student didn t return from approved leave of absence), or Use the last date of attendance at an academically related activity as documented by the school Approved Leave of Absence Policy (LOA) - Optional Written policy, publicized to students Student followed school s policy and was approved The leave does not involve additional charges LOA may not include more than 180 days in any 12-month period Must be a reasonable expectation of return Student allowed to complete coursework begun prior to leave at the same point they left 34 CFR (d) For Discussion Purposes Only 5
6 July 1, 2011 Regulatory Change Institutions not required to take attendance July 1, 2011 If the institution requires faculty to take attendance in certain circumstances, then the institution is considered required to take attendance, for example: School requires faculty to take attendance for all of a particular major, then for that major any student that withdraws from the school would be considered required to take attendance School requires faculty to take attendance during the add/drop period, then school is considered required to take attendance during add/drop period Regulatory Change: Credit Hour Program with Modules Modules are defined in (l)(6) A program is offered in modules if a course or courses in the program do not span the entire length of the payment period or period of enrollment Student may provide intent to attend a future module in writing R2T4 calculation not required if the student attends future module Future module must begin within 45 calendar days in a non-standard or nonterm program July 1, 2011 Regulatory Change: R2T4 Calculation July 1, 2011 Non-Standard terms not substantially equal in length and student has Pell and Loans Possible that student(s) withdraw during overlapping payment periods Standard terms with modules Combined enrollment in full-term courses and modules in payment period Verification For Discussion Purposes Only 6
7 Step 2 Withdrawal Date School Required to Take Attendance IF school is required to take attendance by outside entity (such as state or accrediting agency) THEN... withdrawal date is taken from attendance records NOTE: Requirement might apply only to specific groups of students Counting Calendar Days or Scheduled Clock Hours Count every day, including weekends and holidays, except: Scheduled break of five or more consecutive days when no classes are offered Days of leave of absence are not included in total days Special rule for schools that offer coursework in modules Clock Hour Calculation Numerator is clock hours scheduled to be completed as of the student s last date of attendance Scheduled hours per day times number of days of scheduled class from first day of payment period/period of enrollment to last date of attendance 6 hrs X 9 Days = 54 Denominator is clock hours scheduled to be completed in the payment period/period of enrollment Payment Period = 450 clock hrs % New regulation July 1, 2011 for program measured/reported to state/accrediting body in clock hours School must complete R2T4 calculation in clock hours For Discussion Purposes Only 7
8 Step 2 - Clock Hour Step 3 Amount of Title IV Aid Earned by Student Step 4 Aid to be Disbursed or Returned For Discussion Purposes Only 8
9 Post-Withdrawal Disbursements (PWD) When Title IV aid disbursed is less than Title IV aid earned Step 4, Box J on R2T4 Worksheet Must be made from available grant funds before available loan funds Funds that could have been disbursed PWD of Loan Funds: Notifications & Confirmations Schools Must: Notify a student, or parent (parent PLUS loan), in writing prior to making any PWD Receive confirmation from the student or parent borrower prior to disbursement Provide written notification within 30 days of date of determination of withdrawal Identifying type and amount of funds Explaining options to accept or decline some or all of funds Obligation to repay any loan funds disbursed Provide a deadline for response Post-Withdrawal Disbursement of Grant Funds No student confirmation required to credit student s account Disbursed as credit to account within 180 days after date of determination Disbursed directly to student - as soon as possible, but no later than 45 calendar days after date of determination For Discussion Purposes Only 9
10 Step 4 (cont.) Books and Supplies Step 5 Amount of Unearned Title IV Aid Due from the School Institutional Charges Title IV funds provided under assumption that they are used to pay institutional charges ahead of all other aid Are always charges assessed for entire payment period or period of enrollment prior to withdrawal May not be reduced even if other sources of aid are used to pay those charges For Discussion Purposes Only 10
11 Institutional Charges Include tuition, fees, room and board (if contracted with school) and other educationally-related expenses assessed For nonterm, credit hour programs use costs associated with number of courses student is expected to complete in period for which aid is awarded If student withdraws, institutional charges must include all courses student was initially expected to complete Institutional Charges When to Prorate: 34 CFR (g)(3) For nonterm-based programs where return calculation based on payment period but school charges for period of enrollment Institutional charges for payment period are prorated down from longer period If school has retained Title IV in excess of prorated amount, including allocating costs for equipment and supplies to the beginning of the program, funds retained are attributed to that payment period Step 5 Books and Supplies For Discussion Purposes Only 11
12 Step 6 Return of Funds by School Law specifies order of Title IV programs to which funds must be returned Never return more money than was received from a Title IV program Return of Funds by School Return funds to program(s) as soon as possible, but no later than 45 calendar days after the date of determination of withdrawal Calculation must be completed within 30 calendar days of the date of determination of withdrawal Step 6 For Discussion Purposes Only 12
13 Step 7 Return of Funds by Student Step 8 Repayment of Student s Loans Repayment of Student s Loans Student is responsible to repay any loan funds not returned by the school Loans are repaid in accordance with terms of the promissory note For Discussion Purposes Only 13
14 Step 9 Calculating Grant Overpayment - Example ,200 1, , Step 10 Return of Funds by Student Law specifies order of Title IV programs to which funds must be returned Student is obligated to return any Title IV overpayment in the same order that is required for schools Step 10 For Discussion Purposes Only 14
15 Grant Overpayment and Notifications Within 30 days of determining that a student who withdrew must repay all or part of a Title IV grant, school must provide notification that: student owes an overpayment eligibility for Title IV funds will end after 45 day period student must repay using one of the positive action steps Positive Action Steps to Retain Eligibility Student retains Title IV eligibility for 45 days During that time, student must either: repay in full to school make satisfactory arrangements to repay with school (school s option-not required) make satisfactory arrangements to repay with Department of Education Receipt of Additional TIV Funds During the 45-day Period of Extended Eligibility If student fails to return the overpayment or comply with action steps: student becomes ineligible for Title IV funds following 45 day period funds received during this period do not have to be returned unless student withdrew failure to comply with negotiated repayment arrangements, student immediately becomes ineligible for additional Title IV funds For Discussion Purposes Only 15
16 R2T4 Reporting Processes for Grant Overpayments For payments received on a currentyear overpayment make appropriate COD entry For payments received on previous year s grants, make same entry in COD, and electronic refund function in G5 R2T4 Reporting Processes for Direct Loan Program: Payments and Reductions If student has received an overpayment of Direct Loan funds school should reduce student s award/disbursements by making a downward adjustment in COD school then returns funds to the Department using the Electronic Refund function in G5 Reporting Overpayments to NSLDS A school may report an overpayment to NSLDS any time after student has had the opportunity to pay off overpayment in full to the school, OR indicate their intent to negotiate repayment arrangements with Debt Resolution Services Overpayments not paid in full within 45 days of the institution s determination of the withdrawal must be reported to NSLDS For Discussion Purposes Only 16
17 Referring Overpayments to the Department Referring overpayments for collection vs. reporting overpayments to NSLDS referring is the process of turning over a student s debt to Debt Resolution Services reporting is the process of creating within NSLDS a record of a student s overpayment. Resources FSA Handbook, Volume 5 34 CFR Program Integrity Information Questions and Answers Preamble to the Final Regulations 10/29/ GEN July 20, 2011: Implementation of Program Integrity Regulations FSA Coach Additional Resources Dear Colleague Letter GEN (February 2004) Dear Colleague Letter GEN (November 2004) R2T4 Demo Site available at R2T4 website available via FAA Access to CPS Online FSA Assessments For Discussion Purposes Only 17
18 QUESTIONS? 52 David Bartlett U.S. Department of Education Federal Student Aid Presentation Evaluation I would appreciate if you would take the time to submit an evaluation of this presentation. A paper evaluation is attached. Thanks much! For Discussion Purposes Only 18
U.S. Department of Education. 2012 Fall Webinar Training Series. Return of Title IV Funds: Clock Hour Programs
U.S. Department of Education 2012 Fall Webinar Training Series Return of Title IV Funds: Clock Hour Programs Topics Concepts and Definitions Attendance R2T4 Calculation Post-Calculation Actions Case Study
More informationSFA DISBURSEMENTS, R2T4, OVERPAYMENTS AND REPAYMENTS FALL TRAINING 2013
SFA DISBURSEMENTS, R2T4, OVERPAYMENTS AND REPAYMENTS FALL TRAINING 2013 B R I A N H E I N E M A N N C O P P E R M O U N T A I N C O L L E G E 7 6 0. 3 6 6. 5 2 7 8 B H E I N E M A N N @ C M C C D. E D
More informationFinancial Aid and Scholarship Office Eastern Washington University Return of Title IV Funds Policy
Financial Aid and Scholarship Office Eastern Washington University Return of Title IV Funds Policy Return of Title IV Funds According to Section 484B of the Higher Education Act of 1965 (as amended) students
More informationAttendance Reporting Beginning in the fall of 2015, UJ will implement a new attendance reporting procedure.
1 Title IV Refunds This section is required: 668.22 CFR WITHDRAWAL PROCEDURE Official withdrawal occurs when a student submits an official Letter or Request to withdraw from studies to Vice-Dean for Student
More informationReturn to Title IV Policy R2T4
1 Return to Title IV Policy R2T4 The return of Title IV funds is administered by Student Financial Services at The Vocational Nursing Institute, Inc. This policy applies to students who withdraw (official,
More informationWithdrawal/Refund Policy Professional Education: On-Line Census Dates Academic Interrupt (Temporary Break) Withdrawal and Effective Dates
Withdrawal/Refund Policy Professional Education: On-Line Census Dates 1. All students will be charged 100% of the term tuition (and fees, if applicable) charges on the 3 rd day of the term. See Institutional
More informationReturn of Title IV (Federal Financial Aid) Policy
Return of Title IV (Federal Financial Aid) Policy Introduction The law specifies how SAGU must determine the amount of Title IV program assistance that you earn if you withdraw from school. The Title IV
More informationUNITED STATES DEPARTMENT OF EDUCATION RETURN TO TITLE IV (R2T4) REGULATIONS
UNITED STATES DEPARTMENT OF EDUCATION RETURN TO TITLE IV (R2T4) REGULATIONS The law specifies how the University of Victoria must determine the amount of Title IV program assistance (Stafford Loans) that
More informationUS Loan Title IV Refund Policy 3295.04
Introduction RETURN TO TITLE IV (R2T4) REGULATIONS The law specifies how the University of New Brunswick (UNB) must determine the amount of Title IV program assistance (Stafford Loans) that students earn
More informationSatisfactory Academic Progress Regulations for Students in Receipt of Federal Aid
Satisfactory Academic Progress Regulations for Students in Receipt of Federal Aid The U.S. Department of Education requires institutions of higher education to establish minimum standards of satisfactory
More informationREPAYMENT OF FEDERAL AND STATE AID IF YOUR ENROLLMENT CHANGES
REPAYMENT OF FEDERAL AND STATE AID IF YOUR ENROLLMENT CHANGES Student aid is offered on the assumption that you will attend classes and complete all of the courses for which you enrolled in each academic
More informationWESTERN MICHIGAN UNIVERSITY REPAYMENT POLICY (RETURN OF TITLE IV AID)
WESTERN MICHIGAN UNIVERSITY REPAYMENT POLICY (RETURN OF TITLE IV AID) The federal government mandates that students withdrawing from all classes may keep only the financial aid (federal "Title IV" grant
More informationFINANCIAL 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 information150% SUBSIDIZED LOAN LIMITS (SULA) JUNE 2015
150% SUBSIDIZED LOAN LIMITS (SULA) JUNE 2015 u Subsidized Usage Limit Applies (SULA) u New borrowers 07/01/13 and after u Limits Subsidized Loan eligibility to 150% of current enrolled program length u
More informationHow does the Department define full-time enrollment for Title IV aid purposes?
Enrollment Status 34 CFR 668.2(b). Federal Student Aid Handbook, Vol. 1, Ch. 1. Federal Student Aid Handbook, Vol. 3, Ch. 1. 150 Percent Direct Subsidized Loan Limit Information website. Accurate as of:
More informationFederal Refund Policy
Federal Refund Policy *Please Note: This information is subject to change due to pending federal regulations. All students receiving financial assistance who formally withdraw or who stop attending classes
More information2016-2017 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 informationFinancial 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 informationPell Grant Calculations for Clock Hour Programs AGENDA AGENDA. Student Eligibility Clock Hour Basics. Payment Periods. Formula 4 HEOA.
Pell Grant Calculations for Clock Hour Programs David Bartnicki, Training Officer Federal Student Aid Yolanda Adams, Training Officer Federal Student Aid Michael Roberts, Training Officer Federal Student
More information4/7/2014. Final Rules published January 17, 2014 34 CFR Part 685 January 17 Electronic Announcement
Moving Ahead for Progress in the 21 st Century Act (MAP 21) Enacted July 6, 2012 Amended Higher Education Act to establish a limit on Direct Subsidized Loan eligibility Interim Final Rule published May
More informationU.S FEDERAL STUDENT AID RETURN OF TITLE IV FUNDS POLICY 2014
U.S FEDERAL STUDENT AID RETURN OF TITLE IV FUNDS POLICY 2014 The Vice-Chancellor and Principal, as delegate of the Senate of the University of Sydney, adopts the following policy. Dated: 26 May 2014 Signature:
More informationUpper Iowa University. Self-Paced Degree Program Financial Aid Handbook
Upper Iowa University Self-Paced Degree Program Financial Aid Handbook What is the Self-Paced Degree Program (SPDP)? Upper Iowa University (UIU) offers self-paced correspondence courses as an option for
More information150% Direct Subsidized Loan Limit
150% Direct Subsidized Loan Limit MSFAA Bellaire, MI June 27, 2013 Key Points Higher Education Act has changed Imposes a limit on Direct Subsidized Loan eligibility 150% of published length of the educational
More informationNational Association of Student Financial Aid Administrators
National Association of Student Financial Aid Administrators The following is a presentation prepared for: NDASFAA Conference Wahpeton, ND April 9 11, 2014 Debra La Grone Training Specialist Division of
More informationSOUTH UNIVERSITY REFUND POLICIES
REFUND POLICIES SOUTH UNIVERSITY REFUND POLICIES Institutional Refund Policy Refund of Tuition Tuition charges are based on the total number of credit hours for which a student is enrolled on the first
More informationFINANCIAL 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 informationGENERAL AWARDING POLICIES
GENERAL AWARDING POLICIES 1. All federal and state awards are subject to government funding. 2. Eligibility for financial aid is based on the definition of an academic year as prescribed by the U.S. Department
More informationFinancial Aid Information
Financial Aid Information Schools recognize that in many instances individuals and their families are not able to meet the entire cost of education. Therefore, the Financial Aid Office will assist students
More informationThe New 150% Limit on Subsidized Direct Loans - How it Affects Both Your School and Your Students
The New 150% Limit on Subsidized Direct Loans - How it Affects Both Your School and Your Students U.S. Department of Education April 23, 2014 Laws and Regulations 2 1 Higher Education Act of 1965 has been
More informationFINANCIAL AID HANDBOOK 2015-16 ADVANCED TRAINING ASSOCIATES. 1810 Gillespie Way, Suite 104 El Cajon, CA 92020 619.596.2766 www.advancedtraining.
FINANCIAL AID HANDBOOK 2015-16 ADVANCED TRAINING ASSOCIATES 1810 Gillespie Way, Suite 104 El Cajon, CA 92020 619.596.2766 www.advancedtraining.edu FINANCIAL AID HANDBOOK 2015-2016 This handbook has been
More informationFederal Supplemental Education Opportunity Grant Work Study Federal Work Study (may not be available at all school locations) Loans
Financial Aid Information Schools recognize that in many instances individuals and their families are not able to meet the entire cost of education. Therefore, the Financial Aid Office will assist students
More informationFinancial Aid Information
Financial Aid Information Schools recognize that in many instances individuals and their families are not able to meet the entire cost of education. Therefore, the Financial Aid Office will assist students
More information2011-2012. 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 informationArgosy University Refund Policies
REFUND POLICIES Argosy University Refund Policies Institutional Refund Policy The Institutional Refund Policy applies to students who drop all courses in a semester, whether through providing notification
More informationUS Federal Loans: Return to Title IV (R2T4) Policy
US Federal s: Return to Title IV (R2T4) Policy US federal law specifies that, should a student withdraw from their programme of study, the University of Oxford must complete a Return to Title IV (R2T4)
More informationFinancial 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 informationKendall College. Office of Financial Aid. Program Terms & Conditions 2014-2015. financial_aid@kendall.edu Phone: 312-752-2070
Kendall College Office of Financial Aid Program Terms & Conditions 2014-2015 financial_aid@kendall.edu Phone: 312-752-2070 Table of Contents Introduction... 4 Federal Pell Grants... 4 Federal Supplemental
More informationEric Santiago U.S. Department of Education MSURSD
150% Direct Subsidized Loan Limit SULA on COD & NSLDS Eric Santiago U.S. Department of Education MSURSD Agenda Law and Regulations Responsibilities Loss of Eligibility for Direct Subsidized Loans Loss
More informationCONSUMER 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 informationWhat FAAs Need to Know About 150% Direct Subsidized Loan Limits. Recent Regulatory Activity. IASFAA Conference Spring 2014. 150% DL Sub Limits
What FAAs Need to Know About 150% Direct Subsidized Loan Limits David A. Bartlett Training Officer U.S. Department of Education Recent Regulatory Activity Recent Regulatory Activity 150% Direct Subsidized
More informationSTUDENT FINANCIAL AID HANDBOOK
STUDENT FINANCIAL AID HANDBOOK The Office of Financial Aid P.O. Box 10042 Beaumont, TX 77710 Wimberly Bldg. Room 200 409.880.7011 409.880.8934 Fax Office Hours Monday- Friday 8am-5pm www.lamar.edu/financialaid
More informationFINANCIAL 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 informationUnderstanding Your Financial Aid Award
Important information related to your financial aid award from the University of Richmond is contained in this document, including the terms and conditions of your award package. Please review this information
More informationUnderstanding ISIR Comment Codes and C Codes. Judy Schneider Financial Aid Services
Understanding ISIR Comment Codes and C Codes Judy Schneider Financial Aid Services Bedford Springs, October 12-14, 2015 FAFSA Process Paper (Student) Web (Student) FAA Access to CPS Online (Financial Aid
More informationCalculating Pell Grant Awards
Calculating Pell Grant Awards CHAPTER 3 Pell Grant awards are based on the EFC on the student s SAR or ISIR, the academic year structure (see Chapter 1), and the student s cost of attendance (see Chapter
More informationUnderstanding ISIR Comment Codes and C Codes. 2014 OASFAA Conference
Understanding ISIR Comment Codes and C Codes 2014 OASFAA Conference FAFSA Process FAFSA Completed Paper (Student) Web (Student) FAA Access to CPS Online (Financial Aid Administrator) Central Processing
More informationRegistry US Federal Loan Refund Policy
Registry US Federal Loan Refund Policy Revised: October 2014 1 Leaving/Changing a Programme or Taking Time Out 1.1 You may be experiencing difficulties and think you may have to withdraw. Don't make any
More informationFinancial Aid Consumer Information
Has there ever been a time in your life where you had an educational goal that you wanted to reach but felt that those goals were unattainable due to personal financial reasons? Time and time again, students
More informationDisbursing Federal Student Aid Funds
Disbursing Federal Student Aid Funds CHAPTER 2 These rules apply to the following programs: Pell Grant, ACG, National SMART Grant, FSEOG, Perkins Loan, Direct Loan, FFEL. We have indicated when a rule
More informationFinancial Aid Guide For adult and graduate online students
Financial Aid Guide For adult and graduate online students 2015-2016 Table of Contents 2015-2016 Costs... 2-3 Federal & State Grant Programs... 3 Student Loans and Supplemental Loans... 4 How to Obtain
More informationWalden University. Office of Financial Aid Program Terms and Conditions 2014 2015
Walden University Office of Financial Aid Program Terms and Conditions 2014 2015 Updated January 7, 2015 7070 Samuel Morse Drive, Suite 250 Columbia, MD 21046 finaid@waldenu.edu Phone: 1-800-925-3368 Fax:
More informationPREFERRED COLLEGE OF NURSING FEDERAL STUDENT AID POLICIES & PROCEDURES MANUAL INTRODUCTION
PREFERRED COLLEGE OF NURSING FEDERAL STUDENT AID POLICIES & PROCEDURES MANUAL INTRODUCTION Federal regulations mandate that institutions have written policies and procedures for the administration of Title
More informationDetermining the Loan Period and Amounts
Determining the Loan Period and Amounts The rules for awarding Stafford and PLUS loans are a little different than for Pell Grants and other FSA programs. In particular, the definitions of a loan period
More informationOffice of Financial Aid Program Terms and Conditions 2016 2017
Walden University Office of Financial Aid Program Terms and Conditions 2016 2017 Walden University Office of Financial Aid Program Terms and Conditions (May 2016) Updated May, 2016 7070 Samuel Morse Drive,
More informationUNDERSTANDING YOUR FINANCIAL AID
UNDERSTANDING YOUR FINANCIAL AID Understanding Your Award Letter Financial Aid consists of grants, work-study and loans to help meet your educational expenses. You may accept or reject all or part of your
More informationCalculating Pell Grant Awards
Calculating Pell Grant Awards CHAPTER 3 Pell Grant awards are based on the Expected Family Contribution (EFC) on the student s SAR or ISIR, the academic year structure (see Chapter 1), and the student
More informationINFORMATION ABOUT YOUR FINANCIAL AID AWARD
INFORMATION ABOUT YOUR FINANCIAL AID AWARD 2013-2014 We are pleased to offer financial assistance for your cost of attendance at the University of North Carolina at Chapel Hill. Your award information
More informationStafford/PLUS Loan Periods and Amounts
Stafford/PLUS Loan Periods and Amounts CHAPTER5 The rules for awarding Stafford and PLUS Loans are different than for Pell Grants and other FSA programs. Annual loan limits vary by grade level, and there
More informationOffice of Financial Aid. Terms & Conditions 2015-2016. Phone: 1-877-397-7502 or 1-505-473-6454 Email: sfs@santafeuniversity.edu
Office of Financial Aid Terms & Conditions 2015-2016 Office of Financial Aid Phone: 1-877-397-7502 or 1-505-473-6454 Email: sfs@santafeuniversity.edu Table of Contents Introduction... 5 Federal Pell Grants...
More informationLife in Progress, Careers in Motion.
FEDERAL AID @ TULSA TECH / Q&A What Federal Aid is Available @ Tulsa Tech? Tulsa Tech offers the following federal (Title IV) and state need-based aid to those who complete the Free Application for Federal
More informationMETHOD OF PAYMENT ACCEPTED Acceptable methods of payment: Cash, Money Orders, Certified Checks, Personal checks.
TERMINOLOGY The following is a list of acronyms that you will see throughout this handbook: FAFSA ISIR SAR EFC DL AGI SFA PLUS FAO Free Application for Federal Student Aid (also referred to as the Pell
More informationFinancial Aid Guide. for adult and graduate online students 2014-2015. the catholic franciscan learning place
Financial Aid Guide for adult and graduate online students 2014-2015 the catholic franciscan learning place 2014-2015 BCU Financial Aid Booklet 1 Table of Contents 2014-2015 Costs... 2-3 Federal & State
More informationStudent Consumer Information 2015-2016
Student Consumer Information 2015-2016 Introduction The following is a compilation of Student Consumer Information regarding institutional information and financial assistance. This Student Consumer Information
More informationFEDERAL LOANS FOR US STUDENTS 2016/2017 2. 1.1. Direct Loan types: 2. 1 Introduction 2. 2 Applying for financial aid 2
Table of Contents FEDERAL LOANS FOR US STUDENTS 2016/2017 2 1 Introduction 2 1.1. Direct Loan types: 2 2 Applying for financial aid 2 3 Financial information; Cost of attendance 3 4 Federal Student Loans
More informationUsing NSLDS to Teach English as a Foreign Language
NSLDS: Building Bridges to Better Understand the Data Why Use NSLDS? Understanding the data in NSLDS enables you to: Deliver the right aid to the right students Better counsel students who are close to
More informationCHAPTER2 BORROWER ELIGIBILITY ISSUES:
Borrower Eligibility for Stafford and PLUS loans To receive a Stafford Loan, a student borrower must meet the basic eligibility requirements for FSA funds (citizenship, Selective Service registration if
More informationAPPLYING 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 informationA-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 informationACADEMY of. Cosmeto. osmetology. ogy PHONE: (608) 758-4810 FAX: (608) 758-4855 E-MAIL: AOC@TICON.NET WWW.COSMETOLOGYCAREER.NET FINANCIAL AID HANDBOOK
ACADEMY of Cosmeto osmetology ogy PHONE: (608) 758-4810 FAX: (608) 758-4855 E-MAIL: AOC@TICON.NET WWW.COSMETOLOGYCAREER.NET FINANCIAL AID HANDBOOK www.cosmetologycareer.net 1 TABLE OF CONTENTS TYPES OF
More informationFINANCIAL 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 informationMCC Financial Aid Handbook 2014-2015 TABLE OF CONTENTS. Aid Application Steps. 2. What is Financial Aid. 2. Who Is Eligible to Apply.
MCC Financial Aid Handbook 2014-2015 TABLE OF CONTENTS Aid Application Steps. 2 What is Financial Aid. 2 Who Is Eligible to Apply. 2 Student s Rights and Responsibilities.4 Programs and Certificates....5
More informationSatisfactory Academic Progress Policy Providence University College and Seminary
Satisfactory Academic Progress Policy Providence University College and Seminary The U.S. Department of Education requires institutions of higher education to establish minimum standards of satisfactory
More informationEffective 06/29/2016. Examples of the calculations for these policies are available in the Student Financial Service department
REFUND POLICIES Effective 06/29/2016 Examples of the calculations for these policies are available in the Student Financial Service department Refund Policy As allowed under Federal, state, and accreditation
More informationFINANCIAL 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 informationMassachusetts College of Art and Design Student Financial Assistance Programs - Follow-up For the period July 1, 2010 through June 30, 2011
Official Audit Report-Issued May 24, 2012 Massachusetts College of Art and Design Student Financial Assistance Programs - Follow-up For the period July 1, 2010 through June 30, 2011 State House Room 230
More information2015-2016 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 informationGRADUATE FINANCIAL AID 2015-2016
GRADUATE FINANCIAL AID 2015-2016 Trinity University provides students with a remarkable educational experience in a stimulating and collaborative environment. An education of Trinity s quality requires
More informationFinancial 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 informationFINANCIAL 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 informationThe choice is clear. FINANCIAL AID: LOWER THE COST OF HIGHER EDUCATION
The choice is clear. FINANCIAL AID: LOWER THE COST OF HIGHER EDUCATION HOW TO APPLY FOR FINANCIAL AID The Free Application for Federal Student Aid (FAFSA) serves as the application for all federal, state
More informationDirect Loan Transition - Student Eligibility and Data Retention Requirements
U.S. Department of Education Federal Update March, 2011 1 Today s Topics Direct Loan Transition IRS Data Retrieval Two Pells In One Award Year Regulatory Update 2 3 Direct Loan Transition Direct Loan Transition
More information2015 2016 Financial Aid Information
2015 2016 Financial Aid Information Federal Student Aid (FSA) is authorized under the Higher Education Act of 1965 and is facilitated through the Office of Federal Student Aid (FSA) an Office of the U.S.
More informationGENERAL FSA ELIGIBILITY REQUIREMENTS
Student Eligibility CHAPTER 1 A school must ensure that each recipient meets the eligibility requirements for the Federal Pell Grant Program. In this chapter, we discuss Pell-specific eligibility requirements.
More informationFinancial 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 informationFinancial Aid Office
Wentworth Military Academy and College Financial Aid Office You may contact the Wentworth Financial Aid Office at: (660) 259-2221 or (800) 962-7682 Wentworth Military Academy and College Financial Aid
More informationSatisfactory Academic Progress Requirements To Maintain Financial Assistance
Satisfactory Academic Progress Requirements To Maintain Financial Assistance To receive Title IV financial aid funds, students must meet the U.S. Department of Education's statutory requirements of Satisfactory
More informationStafford/PLUS Loan Periods and Amounts
Stafford/PLUS Loan Periods and Amounts CHAPTER6 The rules for awarding Stafford and PLUS loans are different than for Pell Grants and other FSA programs. Annual loan limits vary by grade level, and there
More informationFinancial Aid for Graduate Programs
Applying for Financial Aid Financial Aid for Graduate Programs Students must complete the following steps to apply for financial aid at Bethel University: 1. Apply and be accepted for admission to Bethel
More informationTHE 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 informationCircular A-133 Single Audit & U.S. Department of Education Program Review. SUNY System Administration Office of the University Auditor April 25, 2013
Circular A-133 Single Audit & U.S. Department of Education Program Review SUNY System Administration Office of the University Auditor April 25, 2013 Session Objectives Obtain an overview of the Circular
More informationFinancial Aid Terms and Conditions 2015-16
Financial Aid Terms and Conditions 2015-16 Introduction The purpose of this guide is to provide an overview of financial aid policies and procedures that must be followed in order to receive financial
More informationCOA EFC = Financial Need
Financial Aid The purpose of student financial aid is to provide funding resources to students who otherwise would be unable to pursue a postsecondary education. The primary responsibility for meeting
More informationSCHOLARSHIPS AND FINANCIAL AID
SCHOLARSHIPS AND FINANCIAL AID Scholarships and Financial Aid 259 Lynchburg College is particularly proud to be an institution that has historically welcomed the qualified and motivated student, whatever
More information150% Direct Subsidized Loan Limit
150% Direct Subsidized Loan Limit Agenda Definitions and calculations Common Origination and Disbursement National Student Loan Data System Special provisions 2 Definitions and Calculations 3 U.S. Department
More informationFinancial Aid Guide Adult Online Students Graduate Students 2012/2013. the catholic franciscan learning place
Financial Aid Guide Adult Online Students Graduate Students 2012/2013 the catholic franciscan learning place BRIAR CLIFF UNIVERSITY 2012/2013 TUITION & FEES COST PER CREDIT Adult Online Degree Completion
More information2014-2015 FINANCIAL AID GUIDE For Undergraduate Students (As of 01/20/2014)
2014-2015 FINANCIAL AID GUIDE For Undergraduate Students (As of 01/20/2014) HOW TO USE THIS GUIDE The purpose of this guide is to assist you with understanding important information about the financial
More informationMOLER BARBER College
MOLER BARBER College COLLEGE CATALOG ADDENDUM 2 02/01/2013-01/31/2014 Moler Barber College 3815 Telegraph Ave. Oakland, CA 94609 510-652-4177 Financial Aid Office Policy Manual 2013 This manual outlines
More informationSTUDENT FINANCIAL ASSISTANCE HANDBOOK
STUDENT FINANCIAL ASSISTANCE HANDBOOK The Office of Student Financial Assistance P.O. Box 10042 Beaumont, TX 77710 Wimberly Bldg. Room 216 409.880.7011 409.880.8934 Fax Office Hours Monday- Friday 8am-5pm
More informationPell Lifetime Eligibility Used (LEU)
Pell Lifetime Eligibility Used (LEU) EASFAA May 2013 Pam Gilligan U.S. Department of Education Consolidated Appropriations Act Established the duration of a student s Pell eligibility as 12 semesters or
More information