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Financial Services

The objective of the Student Financial Aid Program at New Professions Technical Institute, Inc. is to provide direct financial assistance to qualified students who otherwise would be unable to attend the Institution due to insufficient funds to meet tuition, fees, books, supplies, and other allowable educational expenses. The availability of Financial Aid funds is determined by the availability of such funds from the federal, state, institutional and private sources. The amount of financial aid that could be granted to a student is based upon the financial need of the applicant as determined by the federal system of needs analysis. Financial need is understood in the Federal Financial Aid Program and the difference between the cost of attending an educational institution and the amount the student and parent can be expected to contribute to cover such educational expenses. To determine the financial need of a student, NPTI uses the Federal Application for Federal Financial Aid (FAFSA) and the information provided by the applicant and student’s parents.

FINANCIAL PROGRAMS

New Professions Technical Institute, Inc. is authorized by the U.S. Department of Education to assist its qualified students in obtaining financial aid funds from Institutional and Federal Financial Aid Programs.

  1. FEDERAL PELL GRANTS: Grants are Financial Aid Programs of “gift” aide, which are awarded to students based upon financial need. Due to the nature of these Aid Programs, Grants do not require to be repaid. Students may apply for the Federal Pell Grant. The Federal Pell Grant is usually considered the first source of student assistance. The Pell Grant amount that can be awarded to a qualified student is based on the student’s Expected Family Contribution (EFC), the Cost of Attendance (COA), and the student’s enrollment status. The Federal Pell Grant is not available for students who have earned a bachelor’s degree or higher weather in the United States or abroad.
  2. FEDERAL SEOG: A Federal Supplemental Educational Opportunity Grant (FSEOG) is for undergraduates with exceptional financial needs, which means students with the lowest Expected Family Contributions (EFCs) and gives priority to students who receive Federal Pell Grants. The amount of funds that a student can receive depends on when they apply their level of need, and the funding level of the school. An FSEOG does not have to be repaid.
  3. FEDERAL WORK STUDY PROGRAM: The Federal Work-Study Program provides jobs for undergraduate and graduate students with financial need by allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study. Employment is part-time only. An application can be made through the School’s Financial Aid Department. Eligibility is based on financial need and the availability of funds.
  4. STUDENT LOANS: Federal Student loans are available to students. These loans are made directly to students to help pay for their education. The student loans must be repaid. Please consult with the Financial Aid Officer of the school and refer to The Student Guide from the US Department of Education. For additional information, you www.studentloans.gov

GENERAL ELIGIBILITY REQUIREMENTS

To qualify for financial assistance from any Federal or State, Student Financial Assistance Program (SFA), the student must:

  1. Be either a US Citizen (or US national) or an eligible noncitizen. The term “national” includes citizens of American Samoa and Swain’s Island. Eligible non-citizens include: a. US permanent residents who have an Alien Registration Receipt Card (I-551). b. Conditional permanent residents who have a Conditional Alien Registration Receipt Card (I-551C). c. Other eligible non-citizens that have an Arrival-Departure Record (I-94) from the US Immigration and Naturalization Service showing any of the following designations: refugee, asylum granted indefinite paroles, humanitarian paroles, and Cuban-Haitian entrants.
  2. Be qualified to study at the postsecondary level. For Student Federal Aid (SFA) purposes, a student with a high school diploma, or a General Education Development (GED) certificate, or any other recognized equivalent is considered qualified.
  3. Demonstrate to have a legitimate financial need. This determination is made based on the definition of “Financial Need” as described in the Student Financial Assistance Programs (SFA). To this effect, both the students’ Cost of Attendance (COA) and the Expected Family Contribution (EFC) must be calculated. A positive value in the calculation of COA – EFC identifies a “Financial Need.”
  4. Maintain satisfactory academic progress toward the completion of the student’s academic program of study. The student must maintain a minimum cumulative Grade Point Average (GPA) of 2.00 or higher. See “Satisfactory Academic Standards of Progress” under “Academic Regulations” for more details.
  5. Be at least a ½ time student who is enrolled (or is accepted by the Institution for enrollment) in an eligible program to obtain, upon satisfactory completion of all the requirements for graduation, a diploma or other recognized credential. Some of the educational program offered at New Professions Technical Institute, Inc. may require full-time enrollment.
  6. Not owe a refund on a Federal Pell Grant and Federal Supplemental Educational Opportunity Grant (FSEOG) programs that may have been awarded in excess.
  7. Not be in default on a Federal Perkins Loan (or National Direct Loan), and Federal Stafford Loan (or GSL), and Federal Plus Loan.
  8. Agreed to abide by the terms of the “Drug-Free School and Communities Act” as a condition of enrollment.

FINANCIAL AID APPLICATION PROCEDURE

To apply for any SFA Program, the prospective students who seek for financial aid must:

  1. Complete a “Free Application for Federal Student Aid (FAFSA)” on the web. It is the applicant and his/her parent’s responsibility to ensure that the information provided in the FAFSA form is accurate. The information that you supply can be verified by New Professions Technical Institute, Inc. and by the US Department of Education. For this purpose, the applicant must provide the appropriate US income tax returns, including the one produced by the student, spouse, and parents, whichever applies, and any other relevant information. It should be noted that if any financial aid awarded to you based on incorrect information, must be repaid including applicable fines and fees. If you purposely give false or misleading information on your application, you may be fined, sent to prison, or both.
  2. Make an appointment with the Financial Aid Service Department. During the interview, the financial aid officer will evaluate the COA and the EFC for the applicant to determine the corresponding “Financial Need” and the amount of financial aid the student can expect to receive.

Within five to ten (5-10) days after submitting the FAFSA application form, the applicant should receive a “Student Aid Report” (SAR)” by mail. If verification is required, the applicant is responsible for providing proof of any and all information that may be required.

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APPLY FOR AID

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ENTRANCE INTERVIEW

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EXIT INTERVIEW

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PROFESSIONAL JUDGEMENT

Professional Judgment may be available to assist students that have extenuating circumstances which warrant reevaluation of their eligibility for financial aid. The professional judgment process will be conducted on an individual basis and must be accompanied by the required documentation and approved by the Director of Financial Aid.

FINANCIAL AID REAPPLICATION PROCEDURE

Students must be aware that Financial Aid is not automatically renewed each year. It is the sole responsibility of the student to reapply for SFA for the next award year. New Professions Technical Institute, Inc. reserves the right to request any additional information from the parent(s), legal guardian(s), spouse, and student information to assess the current COE and EFC of the student which may change due to possible changes in the student’s financial situation.

TITLE IV - FINANCIAL AID VERIFICATION PROCESS

From time to time, the United States Department of Education will select a financial aid applicant for verification. What does this mean? Only that the Department wants to verify that the school is collecting correct information and that the applicant is giving correct information. This is a routine process and does not mean that you have been selected for any other reason. Do not be afraid of this process. It is not an audit or investigation, but simply a routine check on data.

VERIFICATION INFORMATION SHEET

March 14, 1986, the Department of Education published the Student Assistance General Provisions and the Pell Grant Program Verification of Applicant Information as final regulations in the FEDERAL REGISTER. These regulations are in effect for all Title IV Federal Financial Aid Programs for the award year.

New Professions Technical Institute, Inc. (NPTI) is providing you with the information you will need to understand and comply with the Verification Process. If you should have any additional questions beyond what is listed below, please ask your Financial Aid Counselor to explain the process and its requirements.

FAQ’s REGARDING VERIFICATION(THIS SHOULD BE IN A DROP DOWN LIST OR SOMETHING DYNAMIC)

WHAT IS VERIFICATION?

Verification is the process the Department of Education uses to check the accuracy and validity of the information that a student provides when applying for Federal Financial Aid.

WHAT PROGRAMS DOES VERIFICATION COVER?

Verification covers the following Title IV Federal Aid Programs: 1. Federal Pell Grants 2. Federal Supplemental Educational Opportunity Grants (FSEOG) 3. Federal Work-Study (FWS) 4 - Federal Perkins Loan Program 5 - Federal Family Educational Loan Programs Stafford/Plus/Direct

HOW ARE APPLICANTS SELECTED FOR VERIFICATION?

The selection of an application for verification review does not indicate that NPTI believes that the information you have provided is incorrect. The selection process is completed by the Processing Center for the Department of Education. Your application is subjected to a multiple audit screening process, and listed below are some of the common scenarios: 1 - Random Sample based on the review of information. 2 - Data checked for consistency and logic based on the common edits for each Item on the FAFSA 3 - Verification from the Social Security Administration 4 - Verification from the Selective Service Administration 5 - Verification from the Immigration and Naturalization Service 6 - Verification from the Veterans Affairs Administration 7- Prior FAFSA submissions to the Department of Education The verification process is required by Federal Regulations. New Professions Technical Institute, Inc. must adhere to these regulations and procedures to offer and disburse Federal Title IV Financial Assistance to our students. ***Until verification is completed on any student the Federal Financial Aid funds may not be disbursed. Any student that fails to complete Verification will lose their Aid award***

WHAT MUST I DO IF I AM SELECTED FOR VERIFICATION?

If the Department of Education selects your file for the completion of verification, you must complete the following forms and provide (NPTI) with the following information:

  1. U.S. Department of Education Verification Worksheet for the award year.
  2. Your complete Federal Statement of Earnings.
  3. A statement of Non-Tax Filer Income, which indicates your earnings, that was not reported to the Internal Revenue Service.
  4. Income earned from any business that you operated or own.
  5. Any Social Security Benefits that you received.
  6. Unemployment compensation received.
  7. The number of family members that reside in and that are supported by your income.

IF YOU ARE:

  1. Not married.
  2. Have no dependents that you support.
  3. Are not 24 years of age as of today?
  4. Are not a veteran of the U.S. Armed Forces?

You will need to have your parent(s) submit the above information to qualify for Financial Assistance to attend your program.

HOW LONG DO I HAVE TO COMPLETE THE PROCESS?

Students that are selected to have their information verified are required to submit the requested information within 30 days from the date that the student is notified. If the information is delayed in being submitted to the Financial Aid office the AWARD that was given may not be available to the student, NPTI recognizes that it may be necessary to contact outside sources to collect the necessary documents and asks that the student keep the Financial Aid Office aware of any expected delays.

WHAT HAPPENS IF I FAIL TO PRODUCE THE REQUIRED DOCUMENTATION?

If you, the student fail to submit the required documentation for your file when requested, your financial aid award will be removed, and you will not be eligible to receive assistance from the Federal Title IV Aid Programs.

WHAT HAPPENS IF THE INFORMATION PROVIDED IS DIFFERENT?

If the information you provide for verification is not the same as the information that you originally reported to the Financial Aid Officer and on the application for Federal Aid, a correction will be required. This correction application will produce a "NEW" award that may be higher or lower than the original award. Any reduction in your aid will be your responsibility to pay.

NOTE OF CAUTION

The Student’s Financial Aid is solely the responsibility of the student. If the Institution does not receive the Financial Aid funds while the student is in the school, the student is responsible for paying all tuition and fees related to attending New Professions Technical Institute, Inc.

New Professions Technical Institute has up to forty-five (45) days to collect any scheduled payment (s) from Title IV for students that have dropped or graduated.

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