Important Consumer Information

Return of Title IV Federal Financial Aid Funds

If you completely withdraw during any semester at NSC, you will be subject to the Federal Return of Title IV Funds Policy as conducted by Student Financial Services. Federal law requires the amount of student assistance you have earned up to the point of withdrawal be determined by a specific calculation. In some instances, you may owe funds back to NSC and/or the federal programs from which you received financial assistance.

The amount of assistance you have earned is determined on a pro-rata basis. That is, if you completed 30% of the payment period or period of enrollment, you earned 30% of the assistance you were originally scheduled to receive. Once you have completed at least 61% of the payment period or period of enrollment, you earn all of your assistance. The federal government has mandated a policy of aid recalculation where recipients of Title IV funding fail to complete a minimum of 61% semester attendance. Title IV programs authorized under the Higher Education Act of 1965 include Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Academic Competitiveness Grant (ACG), National Science and Mathematics Access to Retain Talent Grant (SMART Grant), Federal Stafford Loans, Federal Unsubsidized Loans and PLUS Loans.

For the purpose of determining your point of withdrawal during a semester, your student separation date is:

(1) The date the student began NSC’s official withdrawal procedure; or
(2) The date determined by the school as the last date of academically related activity; or
(3) The date established by a survey of your class instructors.

You are responsible for any assistance awarded to you for which you do not qualify or earn. You will be notified of the overpayment that you must repay in a timely manner. Upon notification, you will have 45 days to resolve your outstanding balance owed. After the 45 day period, your account may be referred to the U.S. Department of Education for collection. You will be ineligible for future federal and state financial assistance at NSC or other institutions, until you repay the amount due.

NOTE: Please realize that even if you repay the overpayment amount, you are still subject to the SATISFACTORY ACADEMIC PROGRESS policy.

If you are considering withdrawing from class, for any reason, please contact the Office of the Registrar, your academic advisor and Student Financial Services & Scholarships.