- Terms and Conditions
In accepting the award package offered, you indicate that you understand and agree to abide by the following terms and conditions:
- The FAFSA is required for all federal, Pennsylvania State grant, scholarship and Johnson College aid programs. Eligibility for need-based programs is determined using the information supplied on the FAFSA and, if selected, through the verification process. In addition, award amounts are also influenced by your choice of enrollment and housing.
- Financial Aid packages are developed after first determining the Expected Family Contribution (EFC). Financial need (your financial aid eligibility) is calculated by subtracting the Expected Family Contribution (EFC) from the Student Cost of Attendance budget. Educational costs include all expenses a student may incur and consist of tuition, fees, living expenses, books, transportation and personal expenses.
- The types of aid awarded will vary with the individual student’s need and may consist of a combination of grant, loan, and scholarship assistance.
- All students must maintain satisfactory academic progress in order to remain eligible for financial aid. Aid may be cancelled due to lack of progress or maximum semesters of aid. Please review the Financial Aid Satisfactory Academic Progress Policy link.
- A student will lose Financial Aid Title IV eligibility if a student is convicted of a state or federal offense involving the possession or sale of an illegal drug that occurred while the student was enrolled in school and receiving Title IV aid.
- All forms of need-based aid must be reapplied for annually. Renewal of awards will be based on continued eligibility.
- Receipt of outside awards must be reported to the Financial Aid Office. Adjustments may be made to the student’s award package.
- Financial Aid recipients who plan to withdraw or who change their enrollment status must notify the Financial Aid Office. Your financial aid package will be reviewed and adjustments may be required.
- The amount of aid awarded will be divided equally between the fall and spring semesters, unless otherwise indicated. Financial aid awards are generally disbursed to a student’s account 30 days into the semester for which the award applies. Loan funds will be sent via electronic funds transfer (EFT) on the disbursement date scheduled by the Financial Aid Office.
- Direct Loan and PLUS Loan recipients must be enrolled on at least a half-time basis (6 credits per semester).
- If you are awarded Work Study funds, it is not a guarantee of funds and will not be placed on your account. It is the student’s responsibility to work the required number of hours in order to earn the money. A student is paid bi-weekly for the number of hours worked that time period.
- Need based awards are subject to change as a result of verification of financial information.
- Failure to provide all requested documentation will result in cancellation of the aid awarded.
- The college holds in strict confidence all family financial information and considers any financial aid package to be a confidential matter between the college and the student.
- Johnson College awards Federal Direct Loans under the “passive confirmation process”, meaning that we assume students want their Federal Direct Loan as packaged unless otherwise notified. Students who wish to deny or reduce their loans must notify the Financial Aid Office in writing.
- Return of Fund Policy
Return of Title IV Funds Policy (R2T4) for Students Receiving Federal Financial Aid
The Financial Aid Office is required by federal statute to determine how much financial aid was earned by students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. Johnson College is an attendance taking institution and those records will be used to determine last date of attendance.
For a student who withdraws after the 60% point-in-time, there are no unearned funds. However, a school must still complete a Return calculation in order to determine whether the student is eligible for a post-withdrawal disbursement.
The calculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:
Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.
If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution.
If a student earned more aid than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student’s withdrawal. Any student due a post withdrawal disbursement for direct loan is required to return communication received from the Financial Aid office confirming acceptance of post withdrawal funds within 14 days. The institution must return the amount of Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student’s withdrawal.
Refunds are allocated in the following order:
- Unsubsidized Federal Stafford Loans
- Subsidized Federal Stafford Loans
- Federal Parent (PLUS) Loans
- Federal Pell Grants for which a Return of funds is required
- Federal Supplemental Opportunity Grants for which a Return of funds is required
- Other assistance under this Title for which a Return of funds is required
- Johnson College Refund Policy
The following refund policy has been established for the Fall and Spring semester:
- Withdrawals through the first week of classes will be refunded. Students may request in writing to Student Business Services a refund of their deposit fee.
- Withdrawals during the 2nd week of classes, 50% of the total tuition for that semester will be retained by the College.
- Withdrawals during the 3rd week of classes, 75% of the total tuition for that semester will be retained by the College.
- After the 3rd week of classes, 100% of the tuition will be retained by the College.
- Student Lending Code of Conduct
Johnson College is committed to providing students and their families with the best information and processing alternatives available regarding student borrowing. In support of this and in an effort to rule out any perceived or actual conflict of interest between Johnson College officers, employees or agents and education loan lenders, Johnson College has adopted the following:
- Johnson College does not participate in any revenue-sharing arrangements with any lender.
- Johnson College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any gifts of greater than a nominal
value from any lender, guarantor or servicer.
- Johnson College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any fee, payment or other financial benefit (including a stock purchase option) from a lender or affiliate of a lender as compensation for any type of consulting arrangement or contract to provide services to a lender or on behalf of a lender relating to education loans.
- Johnson College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any thing of value from a lender,
guarantor, or group of lenders and / or guarantors in exchange for service on an advisory board, commission or other group established by such a lender, guarantor, group of lenders and / or guarantors. Johnson College does allow for the reasonable reimbursement of expenses associated with participation in such boards, commissions or groups by lenders, guarantors, or groups of lenders and / or guarantors.
- Johnson College does not assign a lender to any first-time borrower through financial aid packaging or any other means.
- Johnson College recognizes that a borrower has the right to choose any lender from which to borrow to finance his/her education. Johnson College will not refuse to certify or otherwise deny or delay certification of a loan based on the borrower’s selection of a lender and / or guarantor.
- Johnson College will not request or accept any offer of funds to be used for private education loans to students from any lender in exchange for providing the lender with a specified number or volume of Title IV loans, or a preferred lender arrangement for Title IV loans.
- Johnson College will not request or accept any assistance with call center or financial aid staffing.
- FAFSA Penalties for Drug Law Violations
Students might not be able to receive federal student aid if you have been convicted of selling or possessing illegal drugs, if the drug offense for which you were convicted occurred while you were receiving federal student aid (grants, loans, and /or work study).
If you have been convicted in the past, this does not automatically mean that you are ineligible for federal student aid. When completing your FAFSA, a worksheet is available to help determine your eligibility. Please click here to complete the worksheet to accompany your FAFSA.
*TIP: You should complete and submit your FAFSA even if you are not eligible for federal student aid. You may be eligible for financial aid from other sources.
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