Southern California University of Health Sciences - Consumer Information Guide

Note: There may be instances where a disbursement of federal financial aid funds is received and
there are no current invoiced or future allowable charges on the student’s account. In these
instances, SCU will first apply the funds to any unpaid allowable charges for a prior academic
year, not to exceed $200
Any remaining credit balance funds will be disbursed to the student (or parent in the case of a
PLUS loan, or student if authorized by the parent) no later than 14 days after the date the
balance occurred on the student’s account.
Notwithstanding any authorizations SCU will pay any remaining balance on loan funds to the
student (or parent in the case of a PLUS loan, or student if authorized by the parent) by the end
of the loan period (Refer to the Federal Financial Aid Credit Balance Policy for additional
information.)
Cancellation of Federal Financial Aid
The student (or parent in the case of a Parent PLUS Loan) must inform the University if all or a
portion of federal financial aid funds are to be canceled The student or parent must submit a
signed and dated statement or fill out an SCU cancellation of funds form. SCU may return the
loan funds, cancel the loan or both, provided the cancellation request is received within the
required timeframes If SCU receives a student or parent request for cancellation after these
dates, the University may, but is not required to, honor the request. Regardless of when the
request is received, SCU informs the student or parent in writing of the outcome of the request.
When processing a loan cancellation request, SCU must return the funds (if received) and/or
cancel the loan or both as appropriate. SCU is not responsible for returning any portion of a loan
that was disbursed to a student or parent directly before the request for cancellation was received.
Federal Direct Loan Entrance Counseling
SCU ensures loan entrance counseling is conducted online using the U.S. Department of
Education entrance counseling website http://www..studentloans.gov for students/parents
borrowing federal subsidized/unsubsidized student loans or PLUS loans for the first time.
Entrance counseling generally includes the following:
o An explanation of the use of a Master Promissory Note (MPN)
o Importance of repayment obligation
o Description of consequences of default
o Sample repayment schedules
o Information in reference to a borrower’s rights and responsibilities
o Information on the National Student Loan Data System (NSLDS), http://www nslds ed
gov/nslds_SA/
o Information on possible loss of eligibility for additional Direct Subsidized Loans
o Information on how a borrower’s maximum eligibility period, remaining eligibility
period and subsidized usage period are determined
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