Terms and Conditions
2007-2008
TERMS, CONDITIONS & DESCRIPTION
Of Your Financial Aid Award
*This document contains important information regarding your financial aid award. You have agreed to these conditions upon receipt of your award notification letter. Please read this carefully and thoroughly.
Statement of Educational Purpose
By accepting this award I agree to use all Federal Title IV and State financial aid received only for expenses related to my educational study at Northeastern Junior College.
General Requirements
Financial aid funds are awarded only for purposes related directly to educational expenses at NJC.
Failure to report additional assistance including scholarships, Vocational Rehab, Social Services, Veteran's Benefits, Workforce, etc? can result in adjustments, cancellations and/or repayment of aid offered.
You may appeal for reconsideration of your financial aid award by submitting a completed Professional Judgment Worksheet available in the financial aid office. Each appeal will be reviewed on an individual basis.
The financial aid office reserves the right to review and adjust or cancel awards at any time. Adjustments may be made due to changes in financial, residency, or academic status. Changes may also be made due to adjustments in federal or state regulations, or changes in funding or computation error.
Financial aid is not automatically renewable. You must apply every year to be considered. To receive preferential consideration for the next academic year (fall through spring) you must file the Free Application for Federal Student Aid (FAFSA) by March 1st.
This commitment is for the current year only. A new application for aid must be submitted each academic year.
Enrollment Requirements
To receive financial aid you must be enrolled at Northeastern Junior College in a degree and/or certificate program. Some aid programs allow for less than full-time attendance, but you must generally be enrolled at least halftime to qualify.
Full-Time 12 credit hours or more
3/4 Time 9 to 11 credit hours
1/2 Time 6 to 8 credit hours
The following cannot be used to meet the hour's requirement:
Non-credit courses or workshops, including audited courses
You are required to notify the Financial Aid Office of any changes in your enrollment plans.
How your Financial Aid Award was Determined
Need-based aid is awarded according to federal, state and institutional regulations and is intended to help cover that portion of your college expenses, which cannot be paid by you/or your parents if you are dependent. Your estimated cost of attendance includes standard tuition and fees, an allowance for room and board by living arrangements and an allowance for books, personal expenses and transportation. The federal processor, based on the information you provided to them on your Free Application for Federal Student Aid (FASFA) or Renewal FAFSA, determines your family contribution and the results are forwarded to NJC. If eligible for financial aid, you are awarded a financial aid package. The financial aid package may be a combination of several types of aid including grants, scholarships, loans and work-study. The award shown on your award notification letter was created based on your eligibility and available federal, state and institutional funds. You should meet the priority deadline of March 1 if you wish to be considered for funds other than Federal Pell and Federal Stafford and PLUS Loans.
Financial Aid Award Descriptions
Grants
Grants are gift aid that need not be repaid. A financial aid award package may include grant funds whenever guidelines and funding levels permit.
Federal Pell Grant:
Available to students enrolled half-time or more (6 credit hours or more) in most cases. The Financial Aid Office must have a valid Student Aid Report (SAR) with a valid Expected Family Contribution (EFC) before disbursement can be made. Students enrolled less than half-time may receive Pell if qualified.
Federal Supplemental Education Opportunity Grant (SEOG):
Available to undergraduates with documented exceptional financial need. Students with the lowest EFC and a Federal Pell Grant will be given first consideration.
Colorado Student Grant:
Funded by the Colorado General Assembly and awarded to resident undergraduates with documented financial need.
Colorado Leveraging Educational Assistance Partnership:
Available to Colorado resident undergraduates with documented exceptional financial need. These grants are comprised of federal and state funds.
Work-Study
Work-Study enables a student to earn financial aid funding through employment. Types of jobs vary depending on student's skills, interests and goals. Community service work-study jobs are also available. Instructions will be given in your award letter on the process of how to apply for a work study position if awarded. This website will show you the available work study positions and allow you to apply for a position. After being hired for the position you will need to come to the Financial Aid Office to complete necessary paperwork. Funds earned are directly deposited into a checking or savings account.
Colorado Work-Study:
Funding by the Colorado General Assembly for an employment program awarded to Colorado residents with documented financial need. A wide variety of positions are available on/off campus.
Colorado No-Need Work-Study:
Funding by the Colorado General Assembly for an employment program awarded to Colorado residents without documented financial need.
Federal Work-Study:
Federally funded work programs with a portion of the funds contributed by the college. Awards are made only to students who have a documented financial need. Off-campus jobs are also available with our non-profit agencies and local elementary schools
Loans
Student and/or parent loans must be repaid and follow specified requirements.
Federal Subsidized Stafford Loan:
These are low interest loans that are based on documented financial need. A preferred lender list is enclosed to help determine a participating bank of your choice. The federal government pays the interest while you are in school or during your grace period. Repayment begins 6 months after the student leaves school or is enrolled in less than 6 credit hours.Federal Unsubsidized Stafford Loan:
These loans are not based on financial need. The borrower is responsible for the interest payments. The lender is a participating bank of your choice.Student Loan Application:
Master Promissory Note applications are available on-line at www.studentloanonline.com or in the Financial Aid Office. We can provide you with a partial list of participating lenders. To make sure your loan is processed in time for the beginning of school, the application should be completed by July 15. Freshman may apply for up to $3500 per year and sophomores up to $4500 per year. Entrance Loan Counseling is mandatory prior to disbursement of proceeds for first-time borrowers. In addition, freshman/first-time borrowers must attend classes for 30 days before loan proceeds are disbursed.Federal Parent Loan for Undergraduate Students (PLUS):
Variable interest rate loan made to the student's parents for the student's educational expenses. Amount is limited to the cost of educational expenses minus other aid. Origination fees are deducted prior to disbursement of funds. Repayment begins 30 days after the final disbursement. Applications are available on www.studentloanonline.com or you may contact the Financial Aid Office.
Scholarships and Other Outside Resources
Scholarships are gift aid that need not be repaid. A student's financial aid award package must reflect these sources of financial assistance. As a matter of practice, Northeastern Junior College will reduce self-help aid (loans and work study) when adjusting for the addition of outside resources. When all self-help funds are removed, grant funds will be adjusted, except for Federal Pell Grant. If a donor does not honor the scholarship offer the student will be responsible for any funds paid or unpaid.
Self-Reported Assistance:
Students are responsible for reporting all outside scholarships and assistance they receive for the school year. This assistance may be listed in your financial aid award notification. NJC will make payment on these funds only when documentation is submitted from the donor asking that they be billed or if payment is received from the donor. Students are responsible for making sure appropriate paper work is completed.Workforce Center/JTPA:
Students receiving assistance from these programs are responsible for submitting the required paper work (generally an authorization) to receive payment. Paper work submitted less than a week before the beginning of the enrollment period will not be ready for payment until after the term has begun. These funds will have a direct effect on a student's eligibility for Federal and State Financial Aid.Social Service Educational Benefits:
Students receiving assistance from these programs are responsible for submitting the required paper work (generally an authorization) to receive payment. Paper work submitted less than a week before the beginning of the enrollment period will not be ready for payment until after the term has begun. These funds will have a direct effect on a student's eligibility for Federal and State Financial Aid.Vocational Rehabilitation:
Students receiving assistance from these programs are responsible for submitting the required paper work (generally an authorization) to receive payment. Paper work submitted less than a week before the beginning of the enrollment period will not be ready for payment until after the term has begun. These funds will have a direct effect on a student's eligibility for Federal and State Financial Aid.Veteran's Administration Educational Benefits:
These funds will have a direct effect on a student's eligibility for Federal and State Financial Aid.
Disbursement Procedures
Students may receive their financial aid within two weeks of the appropriate term. Financial aid will be applied directly to your student account in the Business Office. All grants and scholarships will be credited to the account. Federal Stafford Loans will be credited after all loan paperwork is completed, a mandatory pre-loan counseling session is required, and if the lender has sent the funds. Private scholarships will only be credited to your account if the Financial Aid Office has received official notification of the amount and how it is to be disbursed. Financial aid may not be disbursed after the term has ended. If Stafford Loan funds are received after the end of the semester, the funds cannot be disbursed until the next semester begins. If the student is not enrolled that term, then a late disbursement may possibly be pursued.
|
Estimated 9-Month Cost of Attendance * | ||||||
| In State At home |
In State On Campus |
In State Off Campus |
Out-of-State at home |
Out-of-State On Campus |
Out-of-State Off Campus | |
|---|---|---|---|---|---|---|
| Tuition/Fees | $2,401.00 | $2,401.00 | $2,401.00 | $8,667.00 | $8,667.00 | $8,667.00 |
| Books/Supplies | $1,698.00 | $1,698.00 | $1,698.00 | $1,698.00 | $1,698.00 | $1,698.00 |
| Room/Board | $3,987.00 | $8,649.00 | $8,091.00 | $3,987.00 | $8,649.00 | $8,091.00 |
| Personal Expenses | $4,068.00 | $4,212.00 | $4,212.00 | $3,447.00 | $4,212.00 | $4,212.00 |
| Total | $12,157.00 | $16,963.00 | $16,405.00 | $17,799.00 | $23,226.00 | $22,668.00 |
| * As of 3/07 | ||||||
Suggestions for meeting any unmet need while you are attending NJC
Check with the Sterling Workforce Center on NJC Campus, Walker Hall at (970) 522-9340 for employment opportunities.
Save $$ on your books. Buy used books whenever possible.
Your Parent(s) may apply for a PLUS Loan. PLUS loans are for parents of "Dependent" students. You or your parent(s) can contact the Financial Aid Office for more information.
Summer Aid
Funding for summer generally consists of unused academic year Federal Pell Grant, Federal Stafford Loan, Unsubsidized Federal Stafford Loan or PLUS Loan eligibility. If you are interested in summer aid, contact the Financial Aid Office for a summer aid application during spring term.
Refunds and Returns
If you completely withdraw from school at any time during the semester, a portion or all of the aid you have received for that term may be returned to its source. The refund/return policy is available in the Business or Financial Aid Offices. Funds offered for subsequent terms may be subject to cancellation. Students may be placed on Financial Aid Suspension.
Forfeiture
You must comply with the standard of conduct established by NJC. Inadequate academic performance or misconduct can result in forfeiture of your financial aid. Funds may also be forfeited if you fail to meet hour requirements or fail to complete disbursal procedures.
Satisfactory Academic Progress Policy
Introduction
Each institution that receives Title IV funds is required by the U.S. Department of Education, Section 132 of the Higher Education Amendments of 1976, to define and enforce standards for satisfactory academic progress. Satisfactory Academic Progress measures a student's performance in the following three areas/criteria: cumulative completion rate, cumulative grade point average (GPA) and maximum time frame. The Financial Aid Office is responsible for ensuring that all students applying for or receiving federal, state of Colorado, or designated institutional financial aid funds, are meeting these standards. The Standards of Satisfactory Academic Progress apply for all applicable financial assistance programs including Federal Pell Grant, Federal Work Study (FWS), Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Family Education Loans (Stafford and PLUS), as well as assistance from the state of Colorado and the college.
Purpose
In order to be eligible to receive financial aid, the student must be making satisfactory progress towards a certificate or degree, as identified in the quantitative (the completion rate of credit hours attempted) and qualitative (the GPA) standards section of this policy. Progress will be reviewed at the time an application is processed (including Federal Pell, Federal Stafford and Federal PLUS Loans if submitted separately) and at the end of each term. The maximum timeframe allowed in which a student is expected to complete his/her certificate and/or degree program is 150% of the number of credit hours required for the specific program. The standard of satisfactory academic progress must include a student's total academic history at Northeastern Junior College regardless of whether he/she has previously received financial assistance.
Satisfactory Academic Progress Criteria
In order to meet satisfactory academic progress requirements for terms in which assistance was received, financial aid recipients must:
1. Maintain a minimum term grade point average (GPA) of 2.0 or above for all classes attempted; and
2. Successfully complete a minimum of 67% of attempted credit hours for the term. Students taking less than 3 credit hours must complete all hours attempted (see the chart below).
An Example of how Credit Hours successfully completed result in the following Satisfactory Progress status:
|
Credit Hours Attempted |
Credit Hours Completed |
Credit Hours Completed (Unsatisfactory/Probation) |
Credit Hours Completed |
|---|---|---|---|
| 18 | 12 | 3 thru 11 | Less than 3 |
| 17 | 11 | 3 thru 10 | Less than 3 |
| 16 | 10 | 3 thru 9 | Less than 3 |
| 15 | 10 | 3 thru 9 | Less than 3 |
| 14 | 9 | 3 thru 8 | Less than 3 |
| 13 | 8 | 3 thru 7 | Less than 3 |
| 12 | 8 | 3 thru 7 | Less than 3 |
| 11 | 7 | 3 thru 6 | Less than 3 |
| 10 | 6 | 3 thru 5 | Less than 3 |
| 9 | 6 | 3 thru 5 | Less than 3 |
| 8 | 5 | 3 thru 4 | Less than 3 |
| 7 | 4 | 3 | Less than 3 |
| 6 | 3 | 3 | Less than 3 |
| 5 | 3 | 3 | Less than 3 |
| 4 | 3 | N/A | Less than 3 |
| 3 | 3 | N/A | Less than 3 |
| Less than 3 credits | Number of attempted credits | N/A | Less than number of attempted credits |
Review of Satisfactory Academic Progress will be done shortly after the stated due date for grades at the end of each term. Credit hours attempted through consortium agreements will be included in the review of this criterion. Students who fail to meet either the term GPA or 67% attempted vs. completed credit hours criterions will be placed on financial aid probation or suspension and will be notified in writing of their status.
Grade symbols of A, B, C, D earned will be considered acceptable for courses completed. S and P (credit) grades will be assigned the equivalent value of a 2.0 GPA.
Grades of W, U, WF, F, I, Z, IP, OE, and AU earned will not be considered acceptable for Satisfactory Academic Progress.
Maximum Time Length
Once students have attempted 110% of the number of credit hours required for their degree or eligible certificate program, they will be required to submit a degree completion evaluation with the signature of an academic advisor or counselor in order to be considered for continued financial aid eligibility.
Federal regulations allow financial aid recipients to receive financial aid for a maximum number of attempted credits. Students attempting credits in excess of 150% of the required number of credits to complete their program of study will be suspended. If at any point in time it is determined that a student cannot complete their program of study with 150% of the program length, financial aid eligibility will be suspended.
Transfer credit hours are included in the calculation of allowable maximum time frame.
Attempted credit hours under all courses of study are included in the calculation of attempted and earned credit hours.
Clarification from the U.S. Department of Education (Federal Student Aid Handbook, Volume 1 ? Student Eligibility 2007-2008, Chapter 1, p. 1-4) states that up to 30 credit hours of ?for credit? remedial coursework are allowed when determining enrollment status. Therefore, as a policy statement of CCCS, up to 30 credit hours of remedial credits will not be included in the calculation when determining if the student has exceeded the maximum time length (150% of the hours required) for the declared program of study, provided that the courses are not applicable to the declared program of study.
The U.S. Department of Education (Federal Student Aid Handbook, Volume 2 ? Program Eligibility 2007-2008, Chapter 4, p. 2-53) states that institutions are required to define the effect of ESL courses on SAP. As a policy statement of CCCS, ESL classes will only be ignored in the maximum time length (150% of the hours required) calculation for SAP.
Definitions of Satisfactory Academic Progress Status
Review of Satisfactory Academic Progress will be done shortly after the stated due date for grades at the end of each academic term. Students who fail to meet either the quantitative or the qualitative criteria will be placed on financial aid probation or suspension according to the following guidelines and will be notified electronically or in writing of their status.
Good Standing: Student is eligible to receive all types of aid.
Student has cumulative GPA at or above 2.0. Some scholarship programs may require a cumulative GPA higher than 2.0 for continued eligibility.
Student has cumulative completion rate at or above 67%.
Student has not attempted more than 150% of required number of credits for enrolled degree or certificate program and the student can mathematically complete the program of study within 150% of the program length.
Student has attempted 110% or more of the required number of credits for their degree or certificate and has submitted an approved degree or certificate completion evaluation.
Financial Aid Probation: Student was previously in Good Standing but failed to meet one of the SAP criteria stated above. Student will continue to receive aid while on probation.
Student has cumulative GPA below 2.0 and/or,
Has cumulative completion rate below 67%.
Financial Aid Suspension: Student has failed to comply with stated SAP criteria while on probation. Student is not eligible to receive financial aid (federal, state or designated institutional financial aid).
Student has failed to meet 2.0 GPA and/or 67% cumulative completion rate requirements.
Student has attempted 110% of required number of credits and has not complied with a degree or certificate completion evaluation request and/or
Student has attempted 110% of required number of credits and has failed to maintain progress towards timely completion of their stated degree or certificate program.
Student has attempted more than 150% of required number of credits needed for degree or certificate program.
It has been determined that a student can not complete their program of study within 150% of the program length.
Financial Aid Appeals
Each institution is required to have a primary and a secondary process for students to appeal a suspension. All decisions made at the secondary level are final. The primary and secondary level will be defined by the institution. A student may appeal when they have been placed on financial aid suspension. These appeals must be submitted to the Financial Aid Office with a completed appeal form and supporting documentation. An appeal form may be obtained from the Financial Aid Office or from the institution's website. The student is responsible for presenting sufficient information and documentation to substantiate the existence of extenuating circumstances.
Appeals may be filed for extenuating circumstances, such as:
Medical problems (family illness)
Family emergency (death of a family member)
Other documented extenuating circumstances beyond the student's control
Students may also appeal on the basis of:
Extension of the maximum allowable credit hours for the currently enrolled program, or
Funding for an additional degree and/or certificate
Appeals of this nature will require the student to meet with an academic advisor or counselor to discuss the number of attempted credit hours beyond the degree requirements and/or the educational purpose of a subsequent degree and/or certificate. A degree completion evaluation signed by an academic advisor or counselor must be submitted with the appeal. This evaluation must list only the courses needed for the student to complete the degree.
Students will be notified of the outcome of their appeal. If classes are in session, the student with a successful appeal will be placed on probation for the current term. For appeals approved between terms, the student will be placed on probation for the next current term. Under no circumstances can probation be assigned to a prior term.
Reinstatement
Students who lose financial aid eligibility because they are not meeting the school's satisfactory academic progress standards will regain eligibility when they are again meeting the qualitative and quantitative standards as set previously in this policy. They may also regain eligibility by successfully appealing a determination that they were not making satisfactory progress. Upon successful reestablishment of eligibility, the student will be awarded financial aid based on the availability of funds at the time of reestablishment. Students may, or may not, receive all funds awarded prior to the loss of eligibility.
Your Rights & Responsibilities
You have the Right to:
Know that Northeastern Junior College will provide students information about cost of attendance, available financial assistance, program policies, application deadlines, etc. through various publications and correspondence.
Expect confidentiality. All financial aid information submitted to the Office of Financial Aid will remain confidential according to the college policy regarding the release of information from student records pursuant to the Family Educational Rights and Privacy Act of 1976.
Accept all or part of the financial aid assistance offered.
Have your financial aid application reviewed upon request if there has been a significant change in your family situation. However, this does not always result in an increase of awards.
Examine your financial aid records. You may request a review with the Financial Aid Office.
Expect fair treatment. Northeastern Junior College does not discriminate on the basis of race, color, religion, national origin, sexual orientation, physical or mental disability, veteran status or age.
Know statistics on student completion, transfer and graduation rates, athletic related information, crime statistics and campus safety reports.
You are Responsible for:
Supplying accurate information on all forms submitted. Funds obtained on the basis of false or misleading information must be repaid and could result in criminal prosecution, prison sentence, and/or a $10,000 fine pursuant to U.S. Criminal Code and Colorado Criminal Code.
Reporting any assistance received from sources outside the NJC Financial Aid Office.
Responding to all requests from the Financial Aid Office in a timely manner.
Reporting any change in your circumstances that may affect your eligibility for financial aid. These changes include residency, enrollment status (dropping and/or withdrawing from course(s)), an increase or decrease of financial resources.
Using financial aid funds for educational expenses related to your education at NJC.
Repaying all types of loan assistance. You must inform lenders of any change in name, address, or enrollment status while you are attending school and also after you graduate or leave school.
Monitoring your academic progress to meet the Satisfactory Academic Progress Policy.
Meeting your educational costs. Financial aid may be available to assist when you and/or your family efforts leave a gap in meeting those costs.
**Information contained in this material is correct at the time of printing and may be subject to change.
Rev 3/2007