Financial Aid Terms and Conditions
Terms, Conditions, and Responsibilities for Aid Recipients
Students who receive financial assistance are responsible for understanding the following terms and responsibilities:
• You understand that an offer of financial aid is for the academic year and that offers of financial aid are contingent on the availability of funds. Furthermore, you understand you must re-apply and re-establish eligibility for financial aid each award year.
• You understand that if you receive additional funds not listed on your award letter from an outside source for educational expenses (i.e. scholarships, fee waivers, Voc Rehab assistance, veterans benefits etc.) you must report them immediately to the Office of Financial Assistance, even if you think that the office making the award will also advise us of them.
• You understand that you may receive financial aid at only one school for the same period of enrollment.
• You understand that once financial aid funds are available for payment (typically ten days before classes start), financial aid will be memoed to your student account and if authorized will be used to pay for institutional charges (tuition, fees) and any other outstanding obligations related to your educational expenses at NNMC for the award year. If your financial aid disbursement does not cover all charges, you are responsible for paying any remaining balance. Failure to complete payment or arrange a payment plan on any balance can result in disenrollment of courses.
• You understand that financial aid is available for payment only if you have been officially admitted (not provisionally or conditionally admitted), are enrolled in classes during the semester(s) indicated on your award letter, and meet all other disbursement requirements (see Disbursement of Financial Aid Funds). You understand that financial aid offered is based on full-time enrollment and that awards will be adjusted for changes in enrollment status.
• If you are offered student loan funds, you understand that you must be enrolled in a minimum of six (6) credits throughout the loan period and must meet the Satisfactory Academic Progress standards to be eligible to receive loan funds.
• You understand that a condition to receive financial aid requires that you must meet Satisfactory Academic Progress standards according to policies established by Northern's Office of Financial Assistance and consistent with federal guidelines. You understand that these policies include:
- completion of a minimum number of credits based on your enrollment status,
- an evaluation of academic progress based on cumulative grade point average, and
- a maximum time frame for receiving financial aid to complete your degree objective.
• You understand that should you withdraw from classes following payment of financial aid, you may be subject to repayment of funds already received based on the Return of Title IV calculation and you may jeopardize your future eligibility for financial aid due to lack of achieving satisfactory academic progress.
• You understand that the Office of Financial Assistance reserves the right to review, modify or cancel financial aid offered at any time due to changes in your financial status, eligibility for financial aid, or changes in federal, state or institutional fund availability. In addition, your financial aid offered may be void or one or more financial aid program(s) may be canceled or modified if the aid offered was based on any error in determining eligibility or the amount of financial aid offered, whether or not the error was made by you or the Office of Financial Assistance.