Terms and Conditions of your
Financial Aid Award Notification

Please read and understand the following information before accepting your financial aid award. By accepting your award you signify that you have read and agree to comply with all the terms and conditions listed below.

A. Procedures to Follow to Receive Funds

1. If you wish to decline all or a portion of this award, you may indicate “N” to decline and/or “Y” to accept an aid source next to the award, sign the award notice, and return the original copy to our office as soon as possible.  You do not need to return a signed copy of your letter if you are accepting all the aid offered.  You may also reduce or decline your loan or other award in the financial aid section under “My Award Letter” of WebSTAR at www.webstar.nova.edu after you enter the secure area using your NSU User ID and PIN.  
   
   
2. Generally, you must be enrolled at least half-time to receive the funds awarded to you.  Half-time enrollment is defined as six (6) credits per semester for all undergraduate students. For graduate students, your program of study defines half time status. All students awarded federal loans must be enrolled at least half time.  For more information regarding specific aid requirements, check the NSU financial aid Web site at www.nova.edu/cwis/finaid.
   

   If you are enrolling in the associate of arts degree program or in a program with numerous blocks within a semester, you must register for all classes at the beginning of the first part of the term. However, you may be awarded for added courses for the second part of the term, if you register prior to the second part of the term drop/add date. Generally, your enrollment status for financial aid purposes will be calculated at the end of the drop/add period for undergraduate students, and the first day of classes for the period of enrollment for graduate students. For exact drop/add dates and first day of classes, please contact your academic program for the specific term for which you are enrolled. Courses added after these dates may not be used to change your enrollment status and increase your award amount(s). Exception:  For state aid, you must register for both parts of term at the beginning of the first part of term.
   
   Award amounts for all students are based on assumed full-time enrollment.  If you are an undergraduate and have been awarded a Florida Resident Access Grant (FRAG) or Florida Student Assistance Grant (FSAG), you must enroll for at least 12 credits each semester (9 credits for nursing students).  Students who enroll less than full-time are not eligible to receive aid from these funds, and their awards will be canceled. Students (or parents, if students are dependent) also must be legal Florida residents for 12 consecutive months prior to the first day of classes of the term for which assistance is given (see Florida State Aid Requirements).

   Some state and institutional scholarship and grant programs (including the NSU Honor Award and Florida Bright Futures awards) are based upon the number of credit hours for which a student is enrolled or require a specified number of credit hours, and these awards may be adjusted or prorated for actual enrolled hours.  If you have received a Federal Pell Grant, the amount shown is the full-time award.  Enrollment for less than twelve (12) credits in any semester will reduce the award amount for that semester.  If you do receive a part-time Federal Pell award during the first and second semester, you may be eligible to receive the remaining portion of your grant in a subsequent term.  Please contact a financial aid counselor for more information.

3. You must submit all required documents by the deadline date. You also must comply with verification requirements (if applicable).
   
   
4. You must be fully admitted (i.e., all admissions requirements/documents have been satisfied) into a degree-seeking program.  For state and federal grants/scholarships, you must be fully admitted by the end of the term for which assistance is requested.

B. Disbursement of Financial Aid Awards

Based on the Department of Education federal regulations, one of the components in preparing a student’s financial aid package is determining a student’s cost of attendance (COA).  Most students are awarded prior to the drop/add date for the term or the first day of classes, and the award is based on an estimated full-time enrollment status.  However, for Title IV campus-based awards, such as the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Perkins Loan, the cost of attendance will be recalculated based on actual attendance if you are enrolled less than full time at the end of the drop/add period or first enrollment thereafter. 

For those students who are receiving only Federal Stafford Loans, the requirement for recalculation of eligibility based on enrollment less than full time will be determined at the time the loan is certified by the financial aid office.  If the loan was certified prior to the end of the drop/add date or first day of classes, no recalculation will be required.  However, if your loan is certified on or after the first day of enrollment, your loans will be based on the actual enrollment at the time of certification.

Financial aid awards generally are credited to your student account in September for the fall term and January for the winter term, provided you have submitted all required information and meet financial aid general eligibility criteria.  If the total amount of your award for the term exceeds your tuition, fees, and campus housing and meal costs (if any) for the term, you may receive a refund of any remaining balance from the University Bursar’s Office.  Refunds are issued generally after the first day of class, provided you are enrolled on at least a half-time basis for the term; therefore; students should make arrangements to cover living expenses and book costs until refund checks are available.  To expedite your refund, you should complete the Direct Deposit Form online at http://www.nova.edu/cwis/bursar/forms/directdeposit.pdf.

1. If you have received a Federal Work-Study (FWS) award, the amount of your award reflects the amount you may earn.  You must work in order to receive the award; however, your award does not guarantee you a job. By the beginning of August, a letter with instructions will be sent to all students awarded FWS.  You may view student employment positions and instructions on applying for these positions online at www.nova.edu/cwis/finaid/stuemploy.html.
   
   
2. If you have received a Federal Perkins loan award, you will be notified by Educational Computer Systems, Inc. (ECSI) that you are required to sign a Perkins Master Promissory Note (MPN) and complete an entrance interview, if you have not already completed this process at NSU.  Failure to do so will result in the cancellation of the award.
   
   
3. Award amounts for state aid programs may be estimated.  Final disbursement amounts may be different from your award amount, depending on state allocations.
   
   
4. Financial aid awards made from the Subsidized Federal Stafford loan and/or Unsubsidized Federal Stafford loan and/or private alternative educational loans will not be available to you until the funds actually are received from the lender.  If you are a first-time borrower under the Subsidized Federal Stafford loan and/or Unsubsidized Federal Stafford loan programs, you are required to complete an entrance interview before you may receive your loan funds.  You may complete the Entrance Interview online under the loan section of the NSU financial aid website at www.nova.edu/cwis/finaid.   Students awarded the Subsidized and Unsubsidized Stafford Loan must complete or have completed a Master Promissory Note (MPN) in order for funds to be disbursed.
   
   
5. If your application has been selected for verification, any discrepancy may cause the award amounts to change.  No funds will be disbursed until we have completed our review of the information and verified your application.  Therefore, you should submit all requested forms as soon as possible.

C. Responsibilities of Financial Aid Recipients

Acceptance of this award represents a contract requiring you to meet the conditions listed below:

1. Federal regulations require that students receiving additional financial assistance from sources outside the university report such resources to the Office of Student Financial Assistance.  Financial aid awards are subject to change in the event that additional assistance received, either from an outside source or from within the university, exceeds the student’s need.
   
   
2. Financial aid awards automatically will be canceled if the student knowingly misrepresents or provides false information on any applications or documents.
   
   
3. Financial aid recipients must be in good standing and maintain satisfactory academic progress in order to remain eligible for financial aid.
   
   
4. Scholarship recipients must meet scholarship requirements, including maintaining any required grade point average or course load requirements.  Failure to do so may result in cancellation or reduction of a scholarship award.

D. Awards are Subject to Availability of Funds

Awards are contingent upon actual receipt of funds by Nova Southeastern University (NSU).  If adjustments are made to the university’s federal or state allocations, the university reserves the right to make adjustments to individual aid awards.

E. Repayment and Refund Policy

If you withdraw from school for any reason, you must notify the Office of Student Financial Assistance.  Awards may be adjusted, and you may be required to repay a prorated amount of the funds advanced to you for the term in which you withdrew.  If you are entitled to a refund of tuition and fees, the refund first may be applied to any financial aid fund from which you received an award.

F. Renewal of Awards

Financial aid awards are made for one academic year only and are not automatically renewed.  Renewal awards are contingent upon completion and submission of a new application and continued eligibility.  The academic year for financial aid purposes generally consists of the fall and winter terms.  However, students will be awarded for all terms including spring/summer terms, if registered and eligible.

G. Tuition Deferment Procedures

Payment of tuition, fees, and residential charges is expected at registration.  The Bursar’s Office takes into consideration loans, grants, and scholarships approved by the Office of Student Financial Assistance, which are shown on your financial aid award notice, but which may not yet be credited to your account.

NSU accepts credit cards – VISA, MasterCard, and American Express – in payment for tuition, room, board, and fees, to the extent of your unused credit limit.  Credit cards have higher interest rates than educational loans but can be a viable, short-term payment method.

Most students earning bachelor’s degrees are eligible for a deferment plan of three payments with postdated checks and a $50 fee:  One third of the student’s total bill is due at registration; one third, 60 days after registration; and the final third, 90 days after registration for 16-week terms (eight-week terms have 30- and 60-day intervals).

The Gap Payment Plan offers a 10-month, interest-free payment plan, as well as other payment plans for the semester only. The plan is available to part-time and full-time degree-seeking undergraduate students who are U.S. residents. There is a $100 application fee. For more information, contact Tuition Pay at 800-806-3680 or visit www.tuitionpay.com/nova.

Graduate students rarely may defer payment.  However, if a student’s employer, offering tuition reimbursement, authorizes direct billing by NSU and guarantees payment in 30 days, the student’s payment will be deferred.  To be eligible, students must submit a corporate purchase order, voucher, or document authorizing NSU’s direct billing.  Credit cards may be used for three month deferment plans. Credit cards are never charged for more than the student account balance.

Students with unpaid balances 30 days from the start of the term will be charged a $50 fee, and a hold will be placed on their accounts preventing all student services including registration until the outstanding balance is paid in full.

PLEASE NOTE: In accordance with the NSU payment policy, students registered for classes agree to pay, when due, all sums assessed by NSU for tuition, housing, fees, and any funds advanced to students that are required to be re-paid (see section E).  If collection is required, the student agrees to pay reasonable collection fees and/or attorney's fees.

Please contact the NSU Bursar’s Office for any questions regarding the tuition deferment procedures at 1-800-541-6682 or at 954-262-5200.

H. Standards of Progress

All students receiving financial aid are required to remain in good standing and maintain satisfactory progress.  To maintain satisfactory progress, you must complete your program within a specified time frame, achieve a minimum grade point average (GPA), and complete a minimum number of credits each year, as defined below:

1. Qualitative Measure:
   Students must attain the following minimum GPA after completion of each year of study:
   Undergraduate
   1 to 29 credits:              minimum GPA = 1.70
   30 to 59 credits:             minimum GPA = 1.85
   60+ credits:                   minimum GPA = 2.0
   
   Graduate
   1 – 12 credits:               minimum GPA = 2.70
   13+ credits:                   minimum GPA = 3.0
   
   Law, Health Professions Division and Doctoral Programs
   Refer to program Student Handbook.
   
   
2. Quantitative Measure:
   Students must meet the following minimum number of credit hours after each academic year:
   
   Undergraduate
   Students can only receive financial aid for up to 150 percent of the published length of their program.  In addition, full-time students must complete 20 new credits each academic year.  Less than full-time students must complete 70 percent of attempted credit hours.
   
   Graduate
   Masters and Education Specialist
   Full-time students must complete 12 new credits each academic year.  Less than full-time students must complete 70% of all credits attempted.           
   Law, Health Professions Division and Doctoral Programs
   Each program has its own standards of academic progress.  Please refer to your program’s individual Student Handbooks.  Suspended and dismissed students are ineligible for financial aid until they are restored to good standing or probationary status.

Satisfactory progress requirements are more stringent for some state programs and academic scholarships.  Florida Resident Access Grant (FRAG) and Florida Student Assistance Grant (FSAG) recipients must earn a 2.0 GPA and a minimum of 12 credits (9 credits for nursing students) for each semester during which funds are received.  Academic scholarships usually require a 3.0 GPA.

Failure to meet these standards will result in the loss of your financial aid.  In order to have your aid reinstated, you must attend school at your own expense to make up the deficiency.  Students who have extenuating circumstances may make an appeal to the Satisfactory Academic Progress Committee.  The appeal should be in writing, be addressed to the committee in care of the Office of Student Financial Assistance, and include the following documentation:

• A letter written by the student describing mitigating circumstances.
• A physician’s note and/or records if the appeal is based on medical circumstances.
• Additional supporting document, if any.

No personal appeals will be heard.  Decisions of the committee are final, and you will receive written notification of the decision.  If a probationary award is granted, it is valid for one academic year.  Please be advised that you may receive only one probationary award per degree level during your attendance at Nova Southeastern University.  Probationary awards cannot be granted for students who have received aid for the maximum number of years allowable for their program.  Health Professions students should refer to their Student Handbook for information regarding their appeal process.

Contact Information and Office Hours

For questions relating to financial aid, you may contact the Office of Student Financial Assistance at 800-806-3680; FAX: 954-262-3966.  You may also check the NSU financial aid Web site at www.nova.edu/cwis/finaid for more information regarding financial aid.

Office Hours: 8:30 a.m. – 7 p.m. (Mon.-Thurs); 8:30 a.m. – 6 p.m. (Fri.); 9 a.m. – Noon (Sat.)

Disclaimer:  The Office of Student Financial Assistance disclaims any liability whatsoever for any information on this award notification.  Changes may have occurred after the time this notification has been published.