Staff in the Student Financial Services Office act in the best interest of our students and their families.
In response to mandates outlined in the Higher Education Opportunity Act of 2008, we have adopted a Code of Conduct to define our relationship with student loan providers.
Families can find more detailed information on the loan application process in the Loans section on our website.
Code of Conduct
The Office of Student Financial Services is committed to the highest standards of professional conduct. We invite you to contact us if you have any questions.
The Higher Education Act of 2008 (H.R. 4137) was signed into law on August 14, 2008. This law mandates that we provide you with a significant amount of additional information in a variety of formats.
Federal Refund Policy
The Title IV Financial Aid you receive from the federal government—Pell Grants, either type of Federal Direct Student Loan, a Federal Perkins Loan, Federal SEOG grant, or a Federal PLUS loan or Federal Grad PLUS Loan—is for your use while you are a student. Recent federal law states that if you stop being a student for any reason before completing 60 percent of the semester the government wants the “unearned portion of that money repaid immediately.”
The amount of assistance you have earned is determined on a pro rata basis. For example, if you completed 30 percent of your payment period or period of enrollment, you earn 30 percent of the assistance you were originally scheduled to receive. Once you have completed more than 60 percent of the payment period or period of enrollment, you earn all the assistance that you were scheduled to receive for that period.
If you did not receive all of the funds that you earned, you may be due a post-withdrawal disbursement. If your post-withdrawal disbursement includes loan funds, your school must get your permission before it can disburse them. You may choose to decline some or all of the loan funds so that you don’t incur additional debt. Your school may automatically use all or a portion of your post-withdrawal disbursement of grant funds or tuition, fees, and room and board charges (as contracted with the school). The school needs your permission to use the post-withdrawal grant disbursement for all other school charges. If you do not give your permission (some schools ask for this when you enroll), you will be offered the funds. However, it may be in your best interest to allow the school to keep the funds to reduce your debt at the school.
National Student Loan Data System
Institutions that enter into an agreement with a potential student or parent of a student regarding a Title IV loan are required to inform the student or parent that the loan will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.
Consumer Loan Disclosure Notice
In compliance with federal regulations under HEOA Sec. 489 amended Sec. 485B (d) (4) (20 U.S.C. 1092b), the College is required to notify you that approved loans will be submitted to the National Student Loan Data System (NSLDS) by the U. S. Department of Education and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system as determined by the U. S. Department of Education.
Consolidated Appropriations Act of 2005 states that “each educational institution that receives Federal funds for a fiscal year shall hold an educational program on the United States Constitution on September 17 of such year for the students served by the educational institution.”
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- Equity and Athletics Disclosure Act: By NCAA and conference policy, there are no athletics scholarships awarded at NESCAC institutions. Financial aid awards are offered in writing only by the institution’s financial aid office and not before the student has been admitted. Institutions may not provide written or oral financial aid evaluations to prospective students prior to being admitted.
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Drug and Alcohol Prevention
Each institution must provide to each student, upon enrollment, a separate, clear, and conspicuous written notice that advises the student that a conviction for any offense, during a period of enrollment for which the student was receiving federal financial aid program funds, under any federal or state law involving the possession or sale of illegal drugs will result in the loss of eligibility for any federal student grant, loan, or work-study assistance (HEA Sec. 484(r)(1)); (20 U.S.C. 1091(r)(1)).
Students who are convicted under any state or federal law for possessing or selling a controlled substance while they are receiving any federal grant, loan, or work assistance will not be eligible to receive the aid for the following time periods:
|1st Offense||One year||Two years|
|2nd Offense||Two years||Indefinite|
Students may resume eligibility earlier if any of the following conditions are met: (1) they complete a drug rehabilitation program that includes two unannounced drug tests and otherwise meet Department of Education requirements; (2) they pass two unannounced drug tests administered by an approved rehabilitation program; or (3) if the conviction is reversed, set aside or otherwise rendered invalid (20 U.S.C. § 1091 (r)).