Financial Aid Policies
Financial Aid Policy for CSCU Community Colleges
The Connecticut State Colleges and Universities (CSCU) system, with support from the Board of Regents, has developed an institutional packaging philosophy to ensure the consistent, fair, and equitable distribution of available funds in order to provide financial assistance to eligible students. To support the educational achievement of our students, each institution shall award financial aid funds from available resources to promote access to higher education, facilitate completion, enable personal and professional growth, and ultimately contribute to the prosperity of the State of Connecticut. Read the full Financial Aid Policy for CSCU Community Colleges policy.
Federal regulations require postsecondary institutions that participate in the federal student financial aid programs to make certain disclosures to students. This notice provides information on the penalties associated with drug-related offenses when the conviction occurs while the student is receiving federal student aid. This notice also provides information on the penalties associated with drug-related offenses under section 484(r) of the Higher Education Act (HEA). NVCC will provide timely notice to each student who has lost eligibility for any grant, loan, or work-study assistance as a result of penalties under 484(r)(1) of the HEA. Read the full policy for drug-related offenses.
Family Educational Rights and Privacy Act (FERPA)
The Family Educational Rights and Privacy Act of 1974 helps protect the privacy of student education records. Read more about FERPA.
Satisfactory Academic Progress (SAP) Policy
A student receiving Federal Title IV financial aid or other financial aid directly administered or certified by the college must maintain satisfactory academic progress towards the completion of a certificate or degree program of study. Read more about SAP.
During the first 14 calendar days of the semester, courses that a student drops or courses for which a student receives a refund will be removed from the student’s schedule and will not appear on his/her transcript. After 14 days, a student who wishes to withdraw from any course must obtain a withdrawal form from the Registrar or withdraw online by the withdraw deadline. Be sure to check with the Registrar for specific deadline dates each semester.
Financial Aid Return of Title IV Funds (R2T4) Policy
Any student who is attending NVCC and is receiving student financial assistance under the Federal Title IV programs may be entitled to a refund if they completely withdraw from their program. Read more about the R2T4 policy.
Students are required to attend and participate in class in order to receive financial aid. Professors report any student who has not attended or participated in class in the first two weeks of classes. The Financial Aid office is informed via email and financial aid is adjusted accordingly (and possibly cancelled). This will most likely result in a bill with the college. Proof of participation (for all classes) can be submitted to the Financial Aid office. If it is determined that the student is attending classes, financial aid will be reinstated and the hold will be removed.
150% Direct Subsidized Loan Limit
The Moving Ahead for Progress in the 21st Century Act (MAP-21) (Public Law 112-141) added a new provision to the Direct Loan statutory requirements that limits a first-time borrower’s eligibility for Direct Subsidized Loans to a period not to exceed 150 percent of the length of the borrower’s educational program (“the 150% limit”). Under certain conditions, the provision also causes first-time borrowers who have exceeded the 150 percent limit to lose the interest subsidy on their Direct Subsidized Loans.Note: Only first-time borrowers on or after July 1, 2013 are subject to the new provision. For more information, please visit the U.S. Department of Education page for more info.