FEA(LEGAL) - FINANCING EDUCATION: FINANCIAL AID AND SCHOLARSHIPS

Selective Service Status

  1. A female individual if females are not subject to general selective service registration under federal law; or
  2. An individual older than the maximum age at which an individual is required to be registered with the selective service system under federal law.
  1. Has registered with the selective service system as required by federal law; or
  2. Is exempt from selective service registration under federal law.

Eligibility for Scholarship

  1. The scholarship is granted by a private organization or third party not affiliated with the institution of higher education or university system;
  2. The scholarship is awarded exclusively on the basis of prior academic merit;
  3. The scholarship is an athletic scholarship; or
  4. The relationship is not within the third degree by consanguinity or the second degree by affinity, as determined under Government Code Chapter 573, Subchapter B [see DBE].

Statement Required

Timely Distribution of Funds

Return Upon Student Ineligibility

Return Upon Cancellation of Aid

Employee Trained in Certain Student Financial Assistance Programs

  1. In understanding state and federal student financial assistance programs available to military veterans or their family members, especially programs specifically applicable to military veterans or their family members; and
  2. In assisting military veterans and eligible family members in understanding and obtaining the benefits available under those programs.

Financial Assistance Information

  1. The procedures and forms by which students apply for assistance;
  2. The student eligibility requirements;
  3. The criteria for selecting recipients from the group of eligible applicants; and
  4. The criteria for determining the amount of a student's award.
  1. Criteria for continued student eligibility under each program;
  2. Standards which the student must maintain in order to be considered to be making satisfactory progress in his or her course of study for the purpose of receiving financial assistance; and criteria by which the student who has failed to maintain satisfactory progress may re-establish his or her eligibility for financial assistance;
  3. The method by which financial assistance disbursements will be made to the students and the frequency of those disbursements;
  4. The terms of any loan received by a student as part of the student's financial assistance package, a sample loan repayment schedule for sample loans, and the necessity for repaying loans;
  5. The general conditions and terms applicable to any employment provided to a student as part of the student's financial assistance package; and
  6. The exit counseling information the institution provides and collects as required by 34 C.F.R. 674.42 for borrowers under the Federal Perkins Loan Program, by 34 C.F.R. 685.304 for borrowers under the William D. Ford Federal Direct Student Loan Program, and by 34 C.F.R. 682.604 for borrowers under the Federal Stafford Loan Program.

34 C.F.R. 668.42

Net Price Calculator

  1. Stating that the estimate does not represent a final determination or actual award of financial assistance; shall not be binding on the U.S. Secretary of Education, the institution of higher education, or the state; and may change;
  2. Stating that the student must complete the Free Application for Federal Student Aid (FAFSA) in order to be eligible for, and receive, an actual financial aid award that includes federal grant, loan, or work-study assistance under 20 U.S.C. Chapter 28, Subchapter IV and 42 U.S.C. Chapter 34, Subchapter I, Part C; and
  3. Including a link to the website of the U.S. Department of Education that allows students to access the FAFSA.

Loan Debt Disclosure

Disclosure Procedure

Contents of Disclosures

  1. The disclosure may not be a complete and official record of the student's unpaid education loan debt;
  2. Why the disclosure may not be complete or accurate, including an explanation that for a transfer student, the institution's estimates regarding state loans reflect only state loans incurred by the student for attendance at the current institution, and not prior institutions; and
  3. That the institution's estimates are general in nature and are not intended as a guarantee or promise.

Disclosures Regarding Lenders

Students with Disabilities

  1. On the basis of disability, provide less assistance than is provided to nondisabled persons, limit eligibility for assistance, or otherwise discriminate; or
  2. Assist any entity or person that provides assistance to any of the recipient's students in a manner that discriminates against qualified disabled persons on the basis of disability.

Discrimination on the Basis of Sex

  1. On the basis of sex, provide different amounts or types of such assistance, limit eligibility for such assistance that is of any particular type or source, apply different criteria, or otherwise discriminate;
  2. Through solicitation, listing, approval, provision of facilities or other services, assist any foundation, trust, agency, organization, or person that provides assistance to any of such recipient's students in a manner that discriminates on the basis of sex; or
  3. Apply any rule or assist in application of any rule concerning eligibility for such assistance that treats persons of one sex differently from persons of the other sex with regard to marital or parental status.

Records Retention

  1. Not less than seven years after the date of the completion of the award period;
  2. The date of the receipt of the institution's final claim for payment of final expenditure report; or
  3. Until a resolution of all billing questions in connection with the account has been resolved.

Note: Federal financial aid rules are found at 34 C.F.R. part 668. For technical guidance regarding the provision of federal financial aid, visit the U.S. Department of Education Information for Financial Aid Professionals website. State financial aid and scholarship programs, tuition set-asides, and other requirements are detailed in Education Code Chapters 52 and 56 and 19 Administrative Code Chapters 21 and 22.

Vernon College

FEA(LEGAL)-LJC

UPDATE 37

DATE ISSUED: 12/5/2019