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2018-2019 Terms and Conditions

Terms and Conditions of your 2018-2019 Financial Aid Award

Please read the following information carefully and thoroughly before accepting your financial aid award. Accepting the financial aid award offered to you signifies that you have read and agree to comply with all the terms and conditions listed below.

A. Financial Aid Award Notice Delivery

  • Financial aid award notifications are sent to your NSU email. Since financial aid awards are subject to change, students are strongly advised to closely monitor their NSU email for revised financial aid award notifications. In addition, the Office of Student Financial Assistance (OSFA) sends undergraduate and graduate students who are new to NSU their first financial aid award notification by postal mail. The OSFA also notifies all new, incoming undergraduate students (transfer as well as first-time-in-college) of revised financial aid notifications by postal mail during their first year of attendance at NSU. 

B. Understanding Your Financial Aid Award 

  • Your financial aid package was developed according to federal and state regulations and institutional guidelines. It is important that you educate yourself on each source of funding, your associated obligations-- such as repayment for loans, and meeting Satisfactory Academic Progress (SAP) for all federal and state aid programs-- and renewal requirements. Requirements vary for each respective financial aid program.
  • All awards depend on the availability, verification, and receipt of funds by NSU. If adjustments are made to the university’s federal or state allocations, the university reserves the right to make adjustments accordingly.

  • In order for you to receive any federal Title IV or state financial aid (such as Federal Pell Grant, Federal Work-Study, Federal Direct Loans, and Florida Resident Access Grant), you must be enrolled for the minimum number of credits that are required for degree/certificate completion (degree-applicable) as published in the catalog from the semester when you first enrolled in your program. You may view your degree requirements, including requirements for your officially declared majors, minors, and/or concentrations, by running an online degree audit through CAPP (Curriculum, Advising, and Program Planning). For more information, visit nova.edu/capp.

  • Financial aid awards issued prior to the add/drop or registration periods for the semester are based on full-time enrollment in degree-applicable courses. This means that if you are not enrolled full-time in degree-applicable coursework at the end of the registration or drop/add period for your program, you
    may not be eligible for the financial aid awarded to you, or you may only be eligible for a portion of the award. Please refer to the specific enrollment requirements listed for each source of financial aid.

  • One of the components in preparing your financial aid package is determining your Cost of Attendance (COA). The COA includes tuition and fees, room and board, books and supplies, transportation, and other personal expenses. Please note that the estimated expenses listed in your Financial Aid Award Notice only include institutional charges. On-campus room and board is a combination of expected housing and meal costs. For undergraduate students, room and board is calculated utilizing a double room on-campus housing rate coupled with the university meal plan. Graduate student housing is calculated based on the cost for a single room.

  • If your Financial Aid Award Notice includes Federal Direct Loans, please note that the gross amounts are listed, and that applicable loan fees will be deducted prior to your disbursement. Loan fees are published on each respective Federal Direct Loan web page of the NSU financial aid website.
  • Your award is valid for one academic year only and is not automatically renewed. To be considered for most sources of financial aid at NSU, you must file a Free Application for Federal Student Aid (FAFSA) every year and have the results sent to NSU by entering the NSU Federal School Code: 001509. The earlier you complete the FAFSA, the better chance you have of being considered for maximum available funds. To apply for Florida grants and scholarships, undergraduate students must complete the NSU State Aid Application.

C. To Maintain Eligibility for the Financial Aid in Your Financial Aid Award Notice, You Must

  • submit all additional information and/or documents requested by the Office of Student Financial Assistance (OSFA) by the requested deadline. You will be notified of outstanding requirements via your NSU email and can also view them via your SharkLink financial aid account
  • have completed all admission requirements for an eligible degree-seeking or certificate program and be enrolled in degree-applicable coursework for the semester/term for which you are requesting aid, or enrolled in preparatory coursework necessary for admission to a degree program
  • register for all classes at the beginning of the first part of the term if you are enrolling in a program with multiple parts of term. For undergraduate students, the OSFA will generally use the student’s enrollment status as it appears at the end of the drop/add period for the first part of term to calculate financial aid eligibility. Therefore, changes in enrollment status after this period will generally not increase a student’s financial aid award amount.
  • maintain Satisfactory Academic Progress (SAP). Different SAP requirements apply for federal and state aid programs. SAP is used to define successful completion of coursework to maintain financial aid eligibility. Federal SAP requirements include qualitative measure (grade point average), quantitative measure (annual credits successfully completed), maximum time frame (total allowable credits), and pace (overall credits successfully completed). For details, including specific requirements for maintaining SAP for state aid, visit nova.edu/sap.
  • accept, reduce, or decline all or a portion of your loan and/or accept your Federal Work-Study (FWS) award(s) prior to the end of the semester/term. This is not a requirement for grant and scholarship awards.

Please follow the step-by-step instructions below to access your award and to accept, reduce, or decline all or a portion of the financial aid offered to you:

    1. Log in to SharkLink using your SharkLink ID and Password.
    2. Click on "My Financial Aid"  on the left navigation, then click "View Awards (WebSTAR)."
    3. Select the "2018-2019 Financial Aid Year" from the drop-down menu, then click "Submit."
    4. Click on the "Award Overview" tab to review your financial aid award carefully.
    5. To accept, reduce, or decline your award(s), click on the "Accept Award Offer" tab. You may determine the award amount(s) you would like to accept. Once you have decided on your award amount(s), click the "Submit Decision" button. It is strongly recommended that you complete this process prior to the end of the semester/term to avoid interruptions in eligibility. If you choose "Undecided" in the "Accept Award" column, your award will remain in the "Offered" status and will not be disbursed. Keep in mind, however, funding may no longer be available after the end of the semester/term. 

D. In Addition, You Must Abide by the Terms and Conditions of Each Financial Aid Program Through Which You Have Been Awarded:

Federal Grants

  • Federal Pell Grant
    Pell Grant recipients are eligible for a maximum award duration of 12 full-time semesters (or the part-time equivalent). To track your lifetime eligibility, log into the National Student Loan Data System (NSLDS). If you have been awarded a Pell Grant, the amount of the award is based on full-time enrollment in degree-applicable coursework and prorated for less than full-time enrollment. For more information, visit the Pell Grant page.
  • Federal Supplemental Education Opportunity Grant (FSEOG)
    Funding for the Federal Supplemental Educational Opportunity Grant is limited. It is awarded to Pell Grant-eligible undergraduate students based on the date of their FAFSA submission and exceptional financial need.
  • Teacher Education Assistance for College and Higher Education (TEACH) Grant
    To be eligible for TEACH Grant funds, you must be enrolled in a TEACH Grant-eligible program in coursework that is necessary to begin a career in teaching or you must plan to complete such coursework. You must also sign a TEACH Grant Agreement to Serve in which you agree to (among other requirements) teach

    • in a high-need field
    • at an elementary school, secondary school, or educational service agency that serves students from low-income families
    • for at least four complete academic years within eight years after completing or ceasing enrollment in the course of study for which you received the grant.
    • If you do not complete the service obligation, then all TEACH Grant funds you received will be converted to a Direct Unsubsidized Loan which will include accrued interest.

Florida Grants and Scholarships (Florida Residents Only)

  • Grants and scholarships are considered "gift-aid" and generally do not need to be repaid. Provided you remain eligible, these funds will automatically be credited to your student account. You do not need to actively accept these funds in SharkLink. Students (or parents of dependent students) also must provide adequate documentation that they have been legal Florida residents for 12 consecutive months prior to the first day of classes of the semester/term for which assistance is given. For detailed information on Florida aid programs and residency requirements, visit the Florida Department of Education's website.

  • If you are an undergraduate student and have been awarded a Florida Resident Access Grant (FRAG) or a Florida Student Assistance Grant (FSAG), you must enroll for at least 12 degree-applicable credits each semester/term (9 credits for nursing students) by the end of the drop/add period for the first part of term for each semester/term. Students who enroll less than full-time in degree-applicable coursework are not eligible to receive aid from these programs, and their awards will be canceled. 

  • To receive a Florida Bright Futures award, you must enroll for at least 6 degree-applicable credits each semester/term by the end of the drop/add period for the first part of term for each semester. At that time, award amounts will be adjusted based on actual enrollment. Students who drop or withdraw from any classes for which Florida Bright Futures funds were received, must return these funds. Until these funds are returned, students are ineligible to receive any additional Florida state financial aid funds. According to state legislation, students have until the end of the academic year to return unearned funds. However, students should be aware that they will not be able to register for future classes with an outstanding balance.

Institutional Scholarships

  • Due to generous donations from alumni, corporations, donors and friends, NSU offers a significant number of institutional scholarships each year. In order to receive an NSU scholarship, such as an NSU Dean's or NSU President's Scholarship, students must meet all scholarship requirements, including any required grade point average (GPA) and course-load requirements. Institutional scholarship recipients must also be enrolled full time in degree-applicable coursework by the end of the drop/add period for the first part of the term of each semester. Failure to adhere to scholarship requirements may result in cancellation of a scholarship award. Once an institutional scholarship has been cancelled, it cannot be reinstated. To identify additional scholarship resources, visit NSU's scholarship webpage.

Student Employment: FWS and NSE

  • If you have been awarded Federal Work-Study (FWS) funds or are a first-time-in-college undergraduate student awarded Nova Student Employment (NSE) funds, the amount of your award reflects the amount you may be eligible to earn. Your award does not guarantee you a job, and you must work in order to receive the funds, which will be issued as a paycheck. For more information on employment opportunities and instructions on applying for available positions, visit the Student Employment webpages.

Federal Loans

  • Loans are a major source of funding for many students; however, it is important to keep in mind that every dollar you borrow must be repaid with interest. You must repay your loan, even if you do not complete the education paid for with the loan or are unable to obtain employment in your field of study. As a general rule, federal student loans usually offer students and parents more favorable conditions than private loans. Before accepting the loan award offered to you, be sure to calculate how much you will need to pay for your educational expenses. To learn about budgeting tips and minimizing your student loan debt by making interest payments while in school, visit the NSU Debt Squad webpages.    
    • Federal Direct Subsidized and Unsubsidized Loans
      For a Federal Direct Subsidized Loan, the federal government will pay the interest while you are enrolled at least half-time in degree-applicable coursework, for the first six months after you leave school (referred to as a "grace period"), and while the loan is in deferment (a postponement of loan payments). For a Federal Direct Unsubsidized Loan, you are responsible for paying the interest during all periods.
    • Federal Direct PLUS Loans
      PLUS Loans are federal loans that creditworthy graduate students and parents of dependent undergraduate students may use to supplement their financial aid package. To apply for a PLUS Loan, you or your parent may complete the PLUS Request Process at studentloans.gov.

If you have been awarded a Federal Direct Loan, either a Subsidized, Unsubsidized, or a PLUS loan, you must meet the following additional requirements for your loan funds to be credited to your student account:

    • Be enrolled at least half time in degree-applicable coursework. Half-time enrollment is defined as 6 credits per semester/term for all undergraduate students. For graduate and first-professional students, half-time status varies by program.

    • First-time federal loan borrowers only: Complete Entrance Counseling and a Direct Loan Master Promissory Note (MPN) at studentloans.gov. First-time borrowers under the Federal Direct Loan (DL) Program are required to complete entrance counseling and, under the circumstances listed below, a Master Promissory Note.

        • You have never signed a Direct Loan MPN.
        • You signed an MPN more than one year ago, but no loan was disbursed.
        • You signed an MPN more than 10 years ago.
        • If you are applying for a Direct PLUS for the first time as a graduate or first-professional student or a parent borrower, you or your parent(s) will be required to complete and sign a PLUS MPN that is separate from the one used for Direct Subsidized and Unsubsidized Loans.

Aggregate (Life-Time) Borrowing Limits
Student Type Combined Base Limit for Subsidized and Unsubsidized Loans Additional Limit for Unsubsidized Loans Total Combined Limit
Dependent Undergraduate Students (whose parents were not denied a PLUS loan) $23,000 $8,000 $31,000
Independent Undergraduate Students (and dependent students whose parents were denied a PLUS loan) $23,000 $34,500 $57,500
Graduate and Professional Students $65,500* $73,000 $138,500
Students in the colleges of allopathic medicine, dental medicine, optometry, osteopathic medicine, and pharmacy, as well as the Doctor of Psychology program in Clinical Psychology $65,500* $158,500 $224,000

*Graduate students are no longer eligible for subsidized loans. They may, however, have subsidized balances from borrowing prior to July 1, 2012.

E. Your Award and Financial Obligations

  • Your financial aid award will be credited to your student account at the beginning of each semester/term, provided you have submitted all required information and meet all financial aid general eligibility criteria. Loans are scheduled to disburse seven days prior to the beginning of the semester/term. Institutional scholarships, federal grants, and state grants/scholarships are scheduled to disburse after the end of the registration or drop/add period for your program.

  • In accordance with NSU's Student Enrollment Agreement (SEA) and payment policy, by registering for classes, students agree to pay in full all sums assessed by NSU. Institutional charges are due at the time of registration. These charges include tuition and fees, as well as housing, meal plan, and health insurance charges, if applicable. You are encouraged to monitor your student account closely at the beginning of each semester/term to ensure that you have met all financial obligations.
  • NSU Student Health Insurance: Many NSU students are required to maintain health insurance. The cost for the NSU Student Medical Insurance Plan may have been added to your Financial Aid Award Notice if you are required to maintain coverage. If you are insured under another insurance plan, you must complete an online waiver to avoid being enrolled in, and charged for, NSU’s plan. Please visit the NSU Student Health Insurance webpage for more information on student health insurance, including access to the online waiver form and the deadline for submitting it.

  • NSU eBill: NSU sends student account notifications electronically in the middle of each month through NSU eBill. If you wish for others, such as a parent or spouse, to have access to your student account information and to receive your monthly notification as well, you may add them as authorized users in NSU eBill. NSU eBill allows you to view all account activity, make payments, set up automated payments, and more and is accessible from the NSU Bursar’s webpage.

  • Holds: If an outstanding balance remains on your student account, the Bursar’s Office will place a hold, along with a $100 late fee, on your account on the 30th day of the semester/term. Until the balance is paid in full, this hold will prevent you from obtaining grades and transcripts, registering for classes, and taking advantage of other university services, including, but not limited to, access to the Don Taft University Center RecPlex. You may view more information on holds.

F. The Bottom Line: Shortage of Funds or Anticipated Financial Aid Refund  

Check your student account regularly in SharkLink to monitor activity and to determine whether you may anticipate an outstanding balance or a financial aid refund after all financial aid funds have been disbursed. 

Shortage of Funds

Financial aid is intended to assist you in financing your education by supplementing your own resources. Many students and families use a combination of personal savings, scholarships, Florida Prepaid funds, part-time employment, PLUS Loans, and NSU payment plans to fund their education. Two of these options include the following:

  • Federal Direct PLUS Loans: These loans allow creditworthy graduate/first professional students and parents of dependent undergraduate students to borrow up to the full cost of tuition and related educational expenses, less any financial aid the student may receive. You may complete the PLUS request process at studentloans.gov.
  • Payment Plans:NSU Payment Plans allow students (with the exception of international students) and their families to pay university charges in installments.

The Office of Student Financial Assistance is eager to assist you in finding a solution that is right for you.

Anticipating a Refund

  • If the total amount of your award for the semester/term exceeds your tuition and institutional charges for the semester/term, you may receive a refund check or direct deposit for the excess funds from the Office of the University Bursar. To receive excess funds as a direct deposit to your checking account, please download the Direct Deposit Authorization and submit the completed form to the Office of the University Bursar as directed on the form. Please allow 10 business days for your refund to be issued. Students should make arrangements to pay for living expenses and any other applicable expenses before excess funds are issued.
  • Bookstore Advance Purchase Program (BAPP): If you have approved financial aid funds in excess of the charges on your student account you may use these funds (up to a maximum of $750) to purchase books and supplies from the NSU Bookstore prior to your scheduled disbursement date. For more information, visit nova.edu/bapp.

G. Special Circumstances

Withdrawing from the University

  • Refund and Repayment Policy
    Financial aid recipients who withdraw from NSU for any reason must notify Enrollment and Student Services (ESS). Financial aid awards may be adjusted, and you may be required to repay a prorated amount of the funds advanced to you for the semester/term from which you withdrew. You will be notified by the Bursar's Office of any balances owed to NSU. If you are entitled to a refund of tuition and fees, the refund will first be applied to any financial aid you have been awarded. Any excess funds will be disbursed to you after all balances owed to NSU have been satisfied.
  • Returning Financial Aid (Return of Title IV Funds)
    Any student who does not complete at least one degree-applicable course within an academic semester/term for which financial aid is received, or could have been received, may be required to return all or a portion of the financial aid awarded. Federal Return of Title IV Funds regulations are based on the premise that students "earn" financial aid for each calendar day that they attend classes. Students who complete more than 60 percent of the semester/term are considered to have earned 100 percent of their financial aid. For more information, visit the Return of Title IV Funds page.
  • Satisfactory Academic Progress
    Students receiving federal and state financial aid should consult a financial aid counselor before dropping or withdrawing from courses to ensure compliance with federal and state Standards of Academic Progress for continued financial aid eligibility.

Verification

If your financial aid file is selected for verification, you must submit all required verification documents requested by Enrollment and Student Services (ESS). Any discrepancy in the information you provide may cause your award amount(s) to change. You must submit all required documents no later than four weeks prior to the end of the enrollment period for the semester/term in which you are requesting aid. Failure to complete verification by this deadline may result in your ineligibility for aid or cancellation of aid previously offered. Visit our verification page for more information on the verification process.

Significant Change in Income/Expenses (Professional Judgment)

The Office of Student Financial Assistance (OSFA) may use Professional Judgment (PJ) to take into account a student's special circumstances to make adjustments to his or her (or his or her parent's) Expected Family Contribution (EFC) for educational expenses, standard budget, and/or financial aid dependency status to increase a student's eligibility for certain types of aid. For more information on PJ, including instructions on how to submit a request, students should review the Professional Judgment Information Statement.

Repeating Courses

Before repeating a course, be sure you understand all potential academic and financial aid implications. Repeated courses affect Satisfactory Academic Progress (SAP) calculations as they are counted as attempted credits. In addition, students may receive federal financial aid for a repeated course only once, if the course was previously passed (credit has been earned). For more information, view the Repeat Course Policy for Financial Aid.

H. Disclaimer

The information in these Terms and Conditions is subject to change. These Terms and Conditions have been reviewed prior to the beginning of the 2018-2019 academic year, however, due to changes in federal, state, and institutional regulations and policies, changes may occur. Minor updates to the Terms and Conditions will be promptly posted to this site. Should major changes occur, students will also be notified via NSU email.

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