Awarding of Title IV Funds
1. All Title IV funds are awarded based on the information received from the FAFSA. You must complete the FAFSA to be eligible. The FAFSA can be found at www.fafsa.gov.
2. City Vision University has five terms per year: Fall 1, Fall 2, Spring 1, Spring 2, and Summer. For financial aid purposes, the academic year begins with Fall 1 and continues to Summer.
New students starting in the Summer may apply their financial aid to either the past or next academic year. Students beginning in a term other than Summer should complete the FAFSA for that academic year. For example, students planning to start in Summer 2016 could complete either the 2015-2016 FAFSA or the 2016-2017 FAFSA. However, students planning to start in Fall 1 2016 should complete the 2016-2017 FAFSA, as would students planning to start in Spring 2 2017.
If you have any questions about which FAFSA you should file, please contact Ann Marie Cameron-Thompson, Director of Financial Aid, at financialaid [at] cityvision [dot] edu for clarification.
3. Once the FAFSA is received and processed in our office the student's file will be pulled for awarding in groups based on the date all the information was received. Awards are made on a first-come, first-served basis.
4. Based on a student's enrollment, an estimated Cost of Attendance (COA) will be assigned for packaging purposes. The COA includes all tuition costs and the cost of books and supplies. City Vision University is an online-only institution, but the COA includes the cost of the student's living expense for the year.
5. The Estimated Family Contribution (EFC) is subtracted from the COA to determine each student's demonstrated financial need.
COA – EFC = NEED
The sum of all need based awards will not exceed the need of the student.
The sum of all awards (need and non-need) will not exceed the COA.
The packaging methodology for undergraduate students is as follows:
- Pell Grants are automatically awarded based on the student's EFC and the Pell tables published by the US Department of Education.
- Other sources of financial aid, such as Workforce Investment Act and Veteran's Educational Benefits, are included.
- All institutionally awarded tuition discounts are included.
- Eligibility for Subsidized and/or Unsubsidized Direct Loans is calculated and added to the package.
Graduate students are only eligible for Unsubsidized Direct Loans. A COA is calculated based on the academic program and planned enrollment status (full or part-time) to establish the amount that can be borrowed. A FAFSA form is still necessary to gather the information required for students to participate in the federal loan programs.
Tuition Billing Date
City Vision does not bill students until after they complete the 5th week of each term or until after the 8th week of the term (whether or not they have completed the 5th week), whichever comes first. We do this because as an online-only university, if students are late submitting their assignments, we may not have an accurate estimate of students’ attendance. Because students attending less than 2 weeks are given a full refund and those attending 2 to 5 weeks are given a partial refund, by waiting to bill students, we are able to have a more accurate attendance and bill. Refunds are given based on the date that the bill is paid either directly by the student or by financial aid.