Financial Aid Policies / Disclosures

Verification Process

Verification is a federal or state process that validates the information that was submitted on the Free Application for Federal Student Aid (FAFSA). After the Student Aid Report (SAR) is received, students may be asked by the Federal Processor or a state agency (HESAA) to provide similar documentation to verify the information on the SAR. Pillar College financial aid office also receives notification from the Federal Processor to validate the student’s record. For the Federal verification, an email is automatically sent to the student with a link to ask for the specific documents that are required. The student has to review their student portal and upload the required documents to the system. HESAA works directly with the student. It is important to respond to any request within 14 days to avoid delays in the processing of financial aid applications.

Pillar College does not disburse any Federal Student Aid until the verification process is complete and any corrections required have been made before the deadline. If documentation is not received prior to the beginning of classes, the student will be required to pay tuition in full on the first day of class.

Payment of Student Accounts

All semester expenses must be paid in US currency. Students are billed for tuition based upon their registration schedule. Fees are charged according to the schedules shown above.

After Financial Aid eligibility is verified, students must then pay in full any remaining balance by the first day of class or have made the first payment of an authorized installment payment plan.

Class registration is not complete until the balance is paid or installment payments have begun.

Student Account HOLD Status:

Students who have not paid their balance in full, or who fail to maintain their payment schedule on an installment plan, may be placed on FINANCIAL HOLD.

When a student’s account is in FINANCIAL HOLD status, the student will not receive grades or academic credit for classes attended, recommendation letters will not be permitted to be sent on the students behalf, transcripts will not be sent to other academic institutions, and the student will not be permitted to graduate or enroll in additional classes.

A late payment fee may be added to any unpaid balance according to the following schedule:

Balance of $100 to $1,000: $25

Monthly Fee

Payment Plan Options:

Students who wish to pay all or any portion of their balance on an installment basis may take advantage of a payment plan. Payment plans must be established directly through Nelnet. All payment plans must be approved by Pillar College.

Please note: if a student misses payments on a payment plan, the student is expected to satisfy the entire balance with Pillar College immediately. Pillar College may, at their sole discretion and without reason, deny the student’s eligibility to participate in a payment plan option.

Withdrawal of Course(s):

A student who is considering dropping or withdrawing from one or all courses is strongly urged to seek advisement, as appropriate, from his/her course instructor, his/her academic advisor, and the Financial Aid Advisor. Dropping or withdrawing from a course(s) may affect issues concerning, but not limited to, financial aid eligibility and satisfactory progress towards graduation.

A student who decides to drop or withdrawal from one or more courses during or after the add-drop refund period, as indicated on the refund schedule below, may do so by contacting their Financial Aid Advisor. The student must submit an official withdrawal form to the Financial Aid Advisor.

Once the withdrawal form is processed by the office of the Registrar, the student will receive a W for the withdrawn course, and both student and instructor of record will receive notification that the student has withdrawn from the course.
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Official Withdrawal form:

Unofficial Withdrawals

Financial Aid Policies and Procedures for student receiving Title IV aid who stop attending all classes and receive an FF grade will be treated as unofficial withdrawals.

Students who are suspended from all courses based on unexcused absences will be treated as unofficial withdrawals. Students who do not re-enroll for a subsequent semester will be treated as unofficial withdrawal. For unofficial withdrawals, the withdrawal date is defined as the last documented date of attendance at an academically related activity, as defined by Federal Regulations.

An institution must determine the withdrawal date for a Title IV recipient who unofficially withdraws no later than 30 days after the end of the semester in which the student unofficially withdrew or the end of the academic year in which the student unofficially withdrew, whichever is earlier. Number of days in the semester, the percentage of time the student completed for the semester determines the “earned percentage.” The earned percentage is based on calendar days in the semester, including weekends. Only scheduled breaks of at least 5 days will be excluded. The length of the break is determined by counting from the first day of the breakup to the next day on which classes are offered. The weekends preceding and following the break are counted as part of the break unless Saturday classes are scheduled. If Saturday classes are scheduled in the weekend preceding the break, only the Sunday would be counted as part of the break. If Saturday classes are scheduled in the weekend following the break, neither Saturday nor Sunday is counted as part of the break.

Refund Schedule: Students who withdraw from or drop courses are eligible for refunds of tuition according to the following schedule:

Fall/Spring Terms

Week 1 – 100% Week 2 – 80% Week 3 – 50% Week 4 – 0%

BLEND

Week 1 – 100% Week 2 – 80% Week 3 – 50% Week 4 – 0%

Pre-LEAD Term

Week 1 – 100% Week 2 – 80% Week 3 – 0%

Any LEAD Term

Week 1 – 100% Week 2 – 80% Week 3 – 50% Week 4 – 0%

Note: No tuition refunds will be issued under the LEAD program after the third week of a semester, even if classes enrolled for have not yet begun.

Enrollment in any LEAD term financially obligates the student for the entire four class semester. Unlike a Traditional program, the courses in a LEAD program semester are taken one after another in a series. A student enrolls in the entire four class semester, not only the first class of the semester.

Withdrawing from or dropping classes may result in a change to a student’s Financial Aid status. Certain Federal or State grants and loans, as well as Pillar College scholarships and grants, are based upon how many credits a student is taking at any one time. If withdrawing from or dropping a class changes the student’s status from full-time to less-than-full-time, financial aid that had been credited to the student may be removed (and in most cases refunded to the government).

This may result in the student owing a balance to Pillar College for charges that previously appeared to be covered by the financial aid.

If a student drops within the 100% drop period and tuition costs are reversed, the student will still be held responsible to pay for the Semester Fee of $350.

When a student receives financial aid that is for more than Pillar College is charging, in most cases the law requires Pillar College to forward those excess funds to the student in the form of a payment called a stipend. (Exceptions include VA and NJ-TAG funding, as examples.) However, if a student withdraws from classes and falls below full-time status, any money that had already been sent to the student as a stipend might have to be repaid to Pillar College immediately. This is not a Pillar College policy; this is required by the Federal Government and other granting agencies.

Important Notice: Every student should be very careful about withdrawing from or dropping classes without first considering the financial implications.

Student Financial Aid Rights

A Pillar College student has the right:

• To have complete information regarding fees, payment, and refund policies made available to them.
  
• To have an explanation of the various programs in the student aid package.
  
• To have all personal and family financial information treated with confidentiality, pursuant to the Federal Trade Commission’s Red Flags Rule.
  
• To know what portion of financial aid must be repaid (loans) and what portion is grant aid.
  

Student Financial Aid Responsibilities

(Any student who fails to maintain these responsibilities may forfeit eligibility for Financial Aid from any source, at Pillar College’s sole discretion.)

A Pillar College student has the responsibility:

• To advise the Financial Aid Office if there are any changes in enrollment status or address. (Students who borrow through the Federal Direct Stafford Loan program must also notify their lenders of these changes.)
  
• To advise the Financial Aid Office of any additional aid received, including outside scholarships and tuition reimbursement. (Fax or mail a copy of the notification of award.)
  
• To inform the Financial Aid Office of plans to withdraw or take a leave of absence. Students must also inform the Registrar. (In most cases aid money will need to be returned to the Federal Government if a student withdraws from, or drops courses.)
  
• To submit to the Financial Aid Office any required documentation for the verification of Financial Aid and other relevant information pertaining to the Financial Aid application. All requested information must be received before any disbursement of funds will be made and before Federal Stafford Loan applications are certified and sent to the lender. Students who do not submit the required information will not receive aid.
  
• To submit completed, signed and dated applications for Financial Aid by the priority deadline date each year (realizing that filing late will delay or prevent the processing of all aid.)
  
• To submit completed, signed, and dated renewal forms required for outside sources for each year aid is desired.
  
• To complete Federal Stafford Loan Entrance Counseling prior to any funds being disbursed.
  
• To complete a Federal Stafford Loan Exit Interview prior to graduation or ceasing to be enrolled at least half-time (6 credits) in person at the college.
  
• To read and understand all forms that they are asked to sign prior to signing them. Students are responsible for all agreements that they sign.
  
• To keep copies of all Financial Aid-related paperwork, especially loan applications, entrance and exit counseling information, and information from lenders regarding all loans.
  
• To maintain satisfactory academic standing and progress as defined by the College.
  
• To keep track of amount of grants and scholarships received each year.
  

The IRS requires that students who receive grants and scholarships that are in excess of tuition, books and fees must report excess as income on their Federal Income Tax returns as well as on the FAFSA (Worksheet C).

Stipend Checks

If your Financial Aid, including your Student Loan(s), exceeds your charges for the term, you will be issued the difference in the form of a stipend check. It generally takes two to three weeks after the date Pillar College receives the funds for stipend checks to be issued. Stipend checks are sent to the student through U.S. mail.

Standards of Academic Progress

To receive Financial Aid, students must maintain a cumulative grade point average of a 2.0 © or better.

Probation and Suspension from Financial Aid

All students receiving Financial Aid at Pillar College are required to meet qualifying standards. Students are placed on probation from the Financial Aid program if qualifying standards of the Financial Aid program are not met.Suspension of Financial Aid will occur if standards are not met by the end of the probation period. Aid will also be suspended for the semester if credit hours attempted fall below the credit hour criteria.

Appeal Policy

If you have extenuating circumstances impacting your financial condition, or a situation you were unable to document when completing the FAFSA form, and if you believe the SAI calculated for you is too high or too low, please request a Financial Aid Professional Judgment form from the Financial Aid Office. Under certain limited circumstances the Financial Aid Office can submit an appeal on your behalf to adjust the SAI, and possibly alter the amount of financial aid for which you are eligible.

Company Reimbursement and Deferment Guidelines

Even when waiting for company reimbursement for tuition and fees, students must make arrangements to pay the balance on their account. Refer to the student account policies in the Payment of Student Account information of this catalog. Completing the FAFSA and taking out loans will aid students in paying for tuition, fees and other costs. Students may also establish a payment plan by contacting the Pillar College Student Accounts office.

There is no provision under which Pillar College can wait for a student to be reimbursed by their employer in order to pay the tuition and charges.

Special Note of Caution: Scholarship Scams

Don’t fall prey to fraud.  Be careful when searching for information on student financial aid. Make sure information and offers are legitimate. The College Scholarship Fraud Prevention Act enhances protection against fraud in student financial assistance.

For free information on how to avoid Scholarship Scams call 1-877-382-4357 or visit The Federal Trade Commissions (FTC) website www.ftc.gov/scholarshipscams