Financial Aid Policies
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Financial Aid Policies

Financial Aid Policies

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.

Withdrawal Policy

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.

Non-Attendance 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.

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