Financial aid is available to qualified students. For more information, please contact the Financial Aid Office directly at 860-632-3020 or 860-632-3056 or by email at email@example.com.
a. Types of Financial Aid Available
Eligible undergraduate students may be awarded Federal PELL Grants and/or Federal Direct Loans. Graduate students may receive Federal Direct Loans. All financial aid is based on need.
b. Applying for Financial Aid
In order to receive Federal Financial Aid, a student must be half-time, enrolled in a degree, or approved certificate program, and be making satisfactory academic progress as defined in the catalog.
All students wishing to be considered for Federal Title IV Financial Aid must fill out the Free Application for Federal Student Aid (FAFSA) which is located online at www.fafsa.ed.gov.
Contact the Financial Aid Office prior to registration to make sure that all forms and related documents are in order. The student will receive an Award Letter after registration which must be accepted prior to disbursement of funds. Mandatory Entrance Counseling and Promissory Note can be accomplished at www.studentloans.gov.
c. Enrollment History Used in Financial Aid Decisions
Holy Apostles reserves the right to use a potential student’s enrollment history as part of the Admissions process. If the Financial Aid Department sees that a student’s FAFSA reveals some cause for concern, the Financial Aid Office may look-up a student’s previous loan history on the National Student Loan Data System (NSLDS). Based on the information that it finds, the Financial Aid Office may reduce the amount of Federal Student Aid offered and even decline Federal Student Aid.
Holy Apostles will not release any Federal Student Aid until all transcripts have been provided that are requested from a review of NSLDS.
Graduating students who have borrowed Federal Student Loans are required to complete Exit Counseling before diplomas are awarded. The directions for this action are contained in a letter that comes to the graduating student during the student’s last semester at Holy Apostles. Exit Counseling must be completed one month prior to a student’s graduation date.
d. How Funds are Disbursed
All funds awarded are disbursed electronically in batches of students generally one-week apart, starting after the add/drop week.. Funds are credited to each student’s account. Any credit balances are refunded to the student within the time prescribed by the Federal Regulations and sent via the regular postal service. Any questions regarding overage checks should be directed to the Business Office.
e. Financial Aid Refund Policy
All students are subject to the Holy Apostles Refund Policy depending upon their situation. In addition, all students receiving Federal Financial Aid are subject to the Federal Return of Title IV Refund Formula to determine earned aid as of the withdrawal date.
- If the student earned less funds than received, the student must return unearned funds to the Title IV Programs.
- If the student earned more funds than received, the student must offer a post-withdrawal disbursement.
This pro-rata calculation applies to students who begin and then cease attendance in all classes prior to the scheduled end of the semester.
This does not apply to students who drop hours, even to less than half-time enrollment.
This does not apply to students who never begin attendance.
Triggers for the timeframes:
- Performing the Federal calculation (30 days)
- Returning unearned funds (30 days)
- Offering student a post-withdrawal disbursement (30 days)
- Notifying student of overpayment due (30 days)
- Delivering a post-withdrawal disbursement (120 days)