Undergraduate Catalog - New Jersey City University

22 UNDERGRADUATE CATALOG 2011-2014 NEW JERSEY CITY UNIVERSITY
a full-time student, be a resident of New
Jersey for the preceding 12 months, and be
selected by the University for enrollment in
its Opportunity Scholarship Program (OSP,
See page 46).
Other Aid Programs
The New Jersey College Loan to Assist
State Students (NJCLASS) is a loan
program intended for the families of
undergraduate or graduate students who
need assistance in realizing their educational
goals. Under this program, a student, parent,
legal guardian, spouse, or relative may
borrow funds needed to meet the student’s
educational costs. The NJCLASS loan
should be used as a supplemental source
of funding after the student has applied
for other sources of financial assistance.
The program is administered by the New
Jersey Higher Education Student Assistance
Authority, which also acts as the lender. Interest
rates and repayment terms are similar
to the PLUS loan program.
The University also participates in the
Public Tuition Benefits Program, the
Veterans Tuition Credit Program, and the
POW/MIA Program.
Application Procedures
To apply for the federal and state student
assistance programs described above,
students must complete a Free Application
for Federal Student Aid (FAFSA). The application
may be completed online at www.
fafsa.ed.gov. The FAFSA worksheet is also
available from the Financial Aid Office,
Hepburn Hall, Room 215.
Students should apply as soon after January
1, as possible, for the upcoming award
year. It is easiest to complete the application
with the family’s completed tax return in
hand, but the application may be completes
with estimated tax information the returns
were not yet filed.
Students must reapply for federal aid
every year. The application deadlines for
each program are indicated in the FAFSA.
For the Federal Perkins Loan, Federal
Work-Study, and the Federal Supplemental
Educational Opportunity Grant Programs,
the University has set a priority filing deadline
of April 15 for academic year applicants,
and November 15 for spring semester
applicants.
After the completed application is received
by the federal processing system, the
federal processor will produce a Student Aid
Report (SAR). The SAR will report the information
from the application and, if there
are no questions or problems with the application,
the SAR will report an “Expected
Family Contribution,” the amount used in
determining eligibility for federal student
aid. These results are sent to students and
to the schools that they list on the FAFSA.
Based on this information the Financial
Aid Office will review your application and
determine your eligibility for financial aid.
For New Jersey residents, the SAR will
also be shared with the New Jersey Higher
Education Student Assistance Authority,
and the application will be automatically
reviewed for eligibility for the New Jersey
Tuition Aid Grant program.
Return of Financial Aid
(Title IV Funds)
The financial aid that students receive is
intended to pay for class attendance and
educational expenses. Students should
attend all of their classes to derive the most
benefit from their courses.
Students must remain enrolled and attend
classes through the 60% point of the
semester in order to retain their complete
financial aid award. Students who withdraw
or stop attending before completing
60% of the semester can receive only a
pro-rated portion of their financial aid for
that semester.
New Jersey City University uses the
Federal formula to calculate how much aid
is earned if a student withdraws before the
end of the semester. The amount of financial
aid earned is calculated on a daily basis
from the first day of classes. The formula
uses calendar days, rather than business
days, to determine the length of the semester.
The number of days attended is divided
by the number of days in the semester to
calculate a percentage that is used to determine
the amounts of earned and unearned
financial aid. The total amount of federal
aid received in the semester is multiplied
by that percentage to arrive at the amount
of earned aid. The remaining, unearned aid
must be returned to the federal programs.
NJCU must return any portion of unearned
student financial aid it had retained for the
payment of tuition, fees and other charges.
NJCU must also return any portion of unearned
aid for which the student is responsible,
and subsequently bills the student for
that amount. The Financial Aid Office and
the Bursar notify the student of the amount
that must be repaid to the University.
For example; a student withdraws on the
35th day of a 110-day semester, the student
would earn 32% (35/110) of the financial
aid for that semester. The balance of the aid
(68%) would be considered unearned and
must be returned to the federal programs.
Unearned aid is returned in the following
order:
1. Direct Unsubsidized Loans
2. Direct Subsidized Loans
3. Direct Grad Plus Loans
4. Perkins Loans
5. Direct PLUS Loans
6. Pell Grant
7. Academic Competitiveness
Grant (ACG)
8. Science and Mathematics Access to
Retain Talent (SMART) Grants
9. Federal Supplemental Educational Opportunity
Grant (FSEOG)
Students who withdraw after the 60% point
in the semester are not subject to proration.
Financial aid recipients, who NEVER
ATTEND ANY of their classes, but who
officially withdraw and receive refunds
based on the above refund policy, will be
subject to Return of Title IV Funds calculations.
Financial aid recipients who WITHRAW
FROM or STOP ATTENDING ALL of
their classes on or before the 60% point of a
semester for which they are charged will be
subject to recalculation of their financial aid
eligibility, based on their last date of attendance
and the application of Federal Return
of Title IV Funds calculations.
New Jersey City University
Foundation Endowed and Annual
Scholarship Programs
201-200-3196
http://www.njcu.edu/alumni/foundation_sships.asp
New Jersey City University annually awards
more than 300 scholarships to deserving
students based on financial need, academic
achievement, and/or other merit.
A number of these scholarships are made
available through the NJCU Foundation
and gifts from friends, corporations, and
alumni. The NJCU Foundation Endowed
and Annual Scholarships are awarded by
the University Scholarship Committee and/
or a specific academic department. The
awarding of the scholarships is subject to
the availability of funds.