Cost Of Attendance
This
is determined by adding the student’s PELL award, along with any other
Student Financial Aid, to the student’s Family Contribution.
This amount is to be subtracted from the loan period actual cost of
attendance, plus room and board allowance
The
amount remaining will be based on the student’s need. Again, the
loan cannot be higher than the student’s need. Students applying
for GSL must receive entrance/exit interviews prior to the release of
the first disbursement of the proceeds of a GSL. The student prior to
receiving a loan must sign a Promissory Note. A loan is a serious
responsibility, and since the student must repay the loan, he/she should
borrow only the amount needed to cover the cost of education.
When the above
occurs, the Lender may require repayment of the loan within 60 days when.
Student
serves notification of withdrawal from the program.
Student
does not return from a Leave of Absence (34 CFR 682.607 (b)(1) within 30
days.
The
term expires after the period of enrollment for which the loan was made,
or the school determines that the student has withdrawn.
Lenders are advised
of a borrower’s withdrawal by use of a Change of Enrollment Status
Letter sent to the Lender by the Institute.
The
maximum allowance for the student’s room and board, living costs,
books, supplies, transportation and miscellaneous expenses is $1,800 for
students without dependents living at home with parents. For all other
students, the maximum allowance is $2,400. The cost of attendance
will differ according to the student’s dependent or independent
status, the course of study, and program length. A sample Cost of
Attendance is as follows:
Tuition
Fees x Hours in Academic Year (Hours
in Program ) =
Tuition Fees for Academic Year
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