Felician College recognizes that many students may need assistance in meeting the cost of a college education. The Financial Aid Office is trained to assist students and families in completing the financial aid process and receiving the maximum amount of aid based on eligibility in all the financial aid programs.
In order to be considered for financial aid, students must:
- Be accepted by the College for admission to a degree or certificate program, and
File the Free Application for Federal Student Aid (FAFSA). The application is available on the web at www.fafsa.ed.gov or in the Financial Aid Office. Students who do not have access to a computer may request a paper version of the FAFSA from the Financial Aid Office. (The Felician College federal code is #002610.)
The Financial Aid Office determines eligibility for aid programs based on the Federal Methodology legislated by the federal government. By filing the FAFSA, a student is applying for federal, state and institutional aid. Each FAFSA result is reviewed for completeness and accuracy. The College may request additional information from the family to confirm the information reported on the FAFSA is accurate. The FAFSA collects information about the student and student’s family including demographic information (name, address, citizenship status, and residency status), the number in the family, the number in college, income, assets, etc. The form requests information from the most recent tax year (for example, for September 2012, you will include information from the 2011 tax returns).
Federal Direct Loans, Federal Grad PLUS and alternative loans are offered to graduate students as part of a financial aid package. Loans are recommended to cover tuition, fees, books and supplies. Students may request additional loan funds to cover educational expenses up to their cost of attendance.
Change in Financial Circumstances
Sometimes a family suffers a change of circumstances in their financial situation. A student should inform the Financial Aid Office if there is a change in the family income as a result of unemployment, retirement, lay-off, separation or divorce, or death of a wage-earner. The Financial Aid Office will collect additional information and determine if the current financial information results in a change in eligibility.
Types of Aid Available
Felician College Alumni Grant: For alumni who graduated from a Felician degree program, do not have an outstanding balance on their account, and have been accepted into a Felician College post-baccalaureate program, the Felician College Alumni Grant is awarded at the rate of $100.00 per credit for non-discounted courses offered on the Felician campus. To maintain ongoing eligibility for the award, a student must maintain a cumulative GPA of 3.00 in their current program. The grant cannot be applied to tuition for courses offered by off-site partnership institutions or study abroad. It also cannot be combined with cohort, ministerial or Catholic school teacher discounts for Felician College programs.
Federal Direct Loan Programs: All students applying for a loan under the Federal Direct Loan Program must file the Free Application for Federal Student Aid (FAFSA). Eligible students enrolled at least halftime may borrow money at low interest rates directly from the U.S. Department of Education to help cover the cost of their education. The Financial Aid Office will recommend a loan amount based on student’s cost of education, other financial aid received and annual and aggregate loan limits as determined by federal guidelines.
Borrowers are not required to demonstrate financial need on the FAFSA to receive a Direct Unsubsidized Loan. Interest accrues (accumulates) on an unsubsidized loan from the time it is disbursed. Borrowers can pay the interest while in school, or the interest will accrue and be capitalized (that is, added to the principal amount of the loan). If a borrower chooses not to pay the interest, this will increase the total loan amount to repay.
Students offered a Federal Direct Loan must complete a Master Promissory Note (MPN) and participate in a loan counseling entrance interview at www.studentloans.gov. The maximum loan limits for each 12 month period of enrollment are as follows:
Graduate Students (per year) - $20,500
Teacher Certificate Program (per year)- $12,500
Information about the Direct Loan application process will be provided to students when the student is issued an award letter by the Financial Aid Office.
Borrowers are required to complete an Exit Interview when they leave the college or drop below half-time. The Financial Aid Office will send information about this process when a student is no longer attending at least half-time.
Federal Direct Grad PLUS
The Federal Direct Grad PLUS loan provides a borrowing option for graduate students, based upon the borrower’s credit worthiness. A student may borrow up to their cost of attendance minus all other aid from this federally guaranteed loan program. Students must exhaust their annual Direct Loan eligibility prior to borrowing funds from the Grad PLUS Loan program.
Students applying for a Federal Direct Grad PLUS Loan must complete a credit check, Master Promissory Note (MPN) and entrance counseling online at www.studentloans.gov.
Federal Teach Grant: TEACH (Teacher Education Assistance for College and Higher Education) Grant (loan) is a merit based Federal Title IV program designed to encourage highly qualified teachers to serve in low-income schools in high-need fields. Teaching Obligation: Grant recipients agree to teach for at least four years within eight years of finishing their teacher preparation program and to teach high-need students in designated schools that serve low-income students. If you do not complete the four year teaching obligation, your grant will convert into an unsubsidized loan, which you will have to repay with interest calculated back to the date the funds were originally disbursed. The field you teach in must be a high need field in the state where you teach in order to satisfy your service requirement. According to some estimates, only 20 percent of students who participate in the TEACH Grant Program will be able to use the funds as grants, while many students will see their funds converted to loans with accumulated interest.
New Jersey Class Loans: The New Jersey College Loans to Assist State Students (NJCLASS) is a loan program intended for families of college undergraduate or graduate students. Under the program, a student, parent, legal guardian, spouse, or relative may borrow up to the student’s cost of education. Loan information and application are available at www.hesaa.org.
Alternative Loan Programs: Several banks and lending institutions offer credit based loans to students and families to assist with educational expenses. You may choose any lender of your choice. Additional information is available on the Felician college web site and in the Financial Aid Office.
Jobs are available to students through the Federal Work Study or Felician College Student Employment programs. Students who are offered jobs have the opportunity to work on or off campus to earn money to help pay educational expenses.
Federal Work-Study Program (FWS): Students with financial need may earn money to pay for college expenses by working at a variety of on- or off-campus jobs. The federal government finances the major portion of a student's earnings, and the College or off-campus employer finances the remainder. Work-Study provides an opportunity for students to learn professional skills while working for financial assistance. Determination of eligibility is made by the Financial Aid Office. Students interested in obtaining employment on campus should contact the Career Services Office.
Veteran’s Educational Benefits
For detailed information regarding a student’s eligibility for veterans educational benefits contact the United States Department of Veterans Affairs at www.gibill.va.gov or call the toll free number 1-888-GI-BILL-1 (1-888-442-4551) to speak with a Veterans Benefits Counselor.
Montgomery GI Bill: As provided under Chapter 30 of the Montgomery GI Bill, individuals that entered the military after June 30, 1985 may be eligible for educational benefits under this program.
Post-9/11 GI Bill: The Post-9/11 GI Bill (Chapter 33) is for students with at least 90 days of aggregate military service on or after September 11, 2001, or individuals discharged with a service-connected disability after 30 days. The program became effective on August 1, 2009 and is limited to those veterans with an honorable discharge. The program provides funding for tuition & fees (up to a maximum of $17,500), books & supplies (up to $1,000) and a monthly housing allowance.
Yellow Ribbon Program: The Yellow Ribbon GI Educational Enhancement Program is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008. Felician College participates in the Yellow Ribbon Program which allows institutions to enter into an agreement with the VA to fund tuition expenses that exceed the amount covered by the Post-9/11 GI Bill (see above). Felician College will match the VA contribution so the total amount available to the student from the Post-9/11 GI Bill and the Yellow Ribbon Program will cover the entire cost of tuition & fees at Felician College.
Other Veterans’ Benefits: Additional Veterans’ Educational benefits for dependents and widows of veterans that died in service-related causes. Individuals in the Selected Reserve (Chapter 1606) and those that contributed to the Veterans Educational Assistance Program (VEEP-Chapter 32) also may be eligible for VA educational benefits. For additional information regarding Veterans’ Educational Benefits, contact the State of New Jersey Department of Military and Veteran Affairs State Approving Agency, PO Box 340, Eggert Crossing Road, Trenton, New Jersey 08625.
Advanced Education Federal Nursing Traineeship Program: Students in the Master of Science in Nursing degree program should contact the MSN department chair regarding eligibility criteria for this program.
Vocational Rehabilitation Educational Benefits: Funds may be available for students with physical or mental disabilities that result in substantial handicaps to employment. Contact local Vocational Rehabilitation Services for additional information.
Employee Tuition Reimbursement Program: Many employers will pay tuition for employees who successfully complete course work at Felician College. Please check with the Personnel office at one’s place of employment.
Financial Aid Policies
- Students receiving financial aid must be making satisfactory academic progress according to the College’s policy. See Academic section of catalog.
- Students who are United States citizens (including U.S. nationals) or permanent residents of the U.S. (possessing a Permanent Resident Card I-551) may be considered for financial aid. Other individuals who may be eligible for aid are those possessing a Conditional Green Card (I-551C) or an Arrival-Departure Record (I-94) from the Department of Homeland Security showing any one of the following designations: “Refugee,” or “Asylum Granted,” or “Parolee” (I-94 confirms paroled for a minimum of one year and status has not expired), T-Visa holder (T-1,T-2,T-3, etc) or “Cuban-Haitian Entrant or the holder of a valid certification of eligibility letter from the Department of Health and Human Services showing a designation of “Victim of human trafficking.” Students in the U.S. on a F1 or F2 student visa, a J1 or J2 exchange visitor visa, or a G series visa (pertaining to international organizations) are, by definition, in this country on a temporary basis and are not eligible to receive federal or state student aid. Documentation of permanent residency status may be required prior to the awarding of financial aid.
- Students must not owe a refund to any federal (Pell, FSEOG, ACG, SMART) or state grant (NJ TAG, EOF and/or Distinguished/Urban Scholarship) to receive financial aid.
- Students will not be eligible to receive financial assistance from any source (federal, state and college) if they are in default on a student loan received through any federal program (Federal Perkins Loan, Federal Direct Loan, Federal Direct PLUS Loan, Federal Grad PLUS Loan, Federal Stafford Loans, and/or Federal PLUS Loan).
- In no case can a student’s total aid package from all sources (grants/scholarship, loans, and/or Federal Work-Study) exceed the student’s cost of education.
All students who are selected by the federal or state agency or the College for verification will be required to provide additional documentation which demonstrates the accuracy of the data which was previously provided on a financial aid application (FAFSA). Students will be given approximately one month to provide the information once it is requested. Failure to complete the verification process may result in cancelation of financial aid.
Treatment of Financial Aid When a Student Withdraws
(Return of Funds Policies and Procedures)
Felician College will provide a fair and equitable refund to all students who leave school prior to the completion of an enrollment period for which they are charged. Students who withdraw from school are subject to the Tuition Refund Policy issued by the Treasurer’s Office at the start of each semester or term.
Students are awarded financial aid to attend school. If a student ceases attendance or withdraws, prior to the completion of an enrollment period a ‘return of funds’ calculation must be performed to determine the amount of aid a student has earned and may keep based on Federal Title IV, State of New Jersey, and/or Institutional policies and regulations.
Policies for Return of Funds
- Federal Title IV ‘return of funds’ calculation is determined in accordance with the Return of Title IV Funds policy. Changes to federal law may affect this policy.
- State ‘return of funds’ calculation is accordance with N.J.A.C. 9A:9-2.12 award adjustments/refunds policy. In all cases the refund to the state must represent its ‘fair share’ of the total available refund as determined by the Institutional Refund Policy.
- Institutional ‘return of funds’ calculation is determined based on the same rate the student will be charged in accordance with the Institutional Refund Policy as prescribed by the Treasurer’s Office.
Procedure for determining the Federal Return of Title IV Funds
Procedures for determining the Return of Title IV Funds are federally mandated. The law specifies how a school must determine the amount of Federal Title IV program assistance that a student earns if they withdraw from school. The Title IV programs that are covered by this law are: Federal Pell Grants, TEACH Grants, Direct (Stafford) Loans, Direct PLUS Loans, Direct Grad PLUS and Federal Supplemental Educational Opportunity Grants (FSEOG).
The amount of financial aid that a student earned is determined on a prorate basis based on the withdrawal date. For example, if a student completes 30% of the payment period, 30% of the financial aid originally scheduled to receive is earned. Once a student completes more than 60% of the payment period, all of the financial aid scheduled to receive for that period is earned. If a student did not receive all of the funds earned, a Post-withdrawal disbursement may be due to the student. Felician must get the student’s permission before it can disburse these funds.
The procedures for determining the calculation are as follows:
1. Determine the Withdrawal Date
2. Calculate the percentage of the enrollment period completed
3. Calculate the amount of Title IV Assistance the student can keep
4. Determine the amount of Title IV funds to be returned or repaid to the financial aid programs
5. Federal student financial aid will be returned to the federal government in the following order: Unsubsidized Direct Loans, Subsidized Direct Loans, Direct PLUS/Grad PLUS Loan, Federal Pell Grant, Federal SEOG Grant, Teach Grant, other federal sources of aid
If the student officially withdraws (with proper notification): The withdrawal date is the date Felician determines the student either began the withdrawal process, or the date the student provided official notification to Felician, in writing or orally, of his or her intent to withdraw.
If the student unofficially withdraws (ceases attendance without proper notification): The withdrawal date is the date Felician documents as the students last date of attendance at an approved academic related activity. If attendance cannot be determined in all courses, 100% of the federal aid must be returned.
If a student has questions about Title IV program funds, information is also available on the Web at www.studentaid.ed.gov.
Student’s Rights and Responsibilities
You have the right to:
- have complete information regarding fees, payment, and refund policies available to you.
- have all personal and family financial information treated with sensitivity and confidentiality.
- have aid awards credited to your account in a timely manner.
- know the source(s) and amount(s) of aid for which you are eligible.
- know what portion of your financial aid package must be repaid and what portion does not.
- request an explanation of the funds in your financial aid package and decline any portion of your award.
- submit an appeal to the Financial Aid Office if your circumstances change.
You have the responsibility to:
- advise the Financial Aid Office whenever you change your enrollment (e.g. from full-time to less than full-time) or housing status.
- advise the Financial Aid Office of any additional aid received which is not indicated on your Financial Aid Award Notice.
- inform the Financial Aid Office if you expect to withdraw or take a leave of absence. Refer to the Treasurer’s section of the catalog regarding the school’s refund policy.
- provide the Financial Aid Office with all verification materials requested.
- meet your financial obligations to the college.
- know and comply with the rules governing all financial aid you receive.
- read and understand all materials sent by the Financial Aid Office.
- accept responsibility for all agreements signed by you and keep copies of all materials for your records.
- complete the Free Application for Federal Student Aid (FAFSA) each year prior to the college’s established priority deadline.
- respond promptly to any information requests from external organizations, including the NJ Higher Education Assistance Authority (NJHESAA)
- maintain good standing and satisfactory academic progress as defined in the academic section of the College catalog.
- report to the Internal Revenue Service (IRS) any grants and/and scholarships which are in excess of tuition, fees and books when completing your federal tax return.