Additional Financial Aid Policies

Academic Year Definition

Our regular academic year is 24 credits across 32 academic weeks. This includes four 8-week terms of Fall 1, Fall 2, Spring 1 and Spring 2. Students may also elect to take courses in the Summer term (also 8 weeks in length) outside the regular academic year.

As a crossover term for Pell, the Summer term may be associated with either the award year that is just ending, or the award year that is beginning.

The same academic year definition is used for all programs.

Since we are a non-standard term-based program with terms that are each 8 weeks in length, we used the BBAY3 methodology for packaging & scheduling loan funds, for students that requested loans. We have ceased participating in the Federal loans program (sometimes known as the Stafford loans program) as of Spring 1 2018.

Since the academic year definition is 32 weeks, it exceeds the statutory minimum of 30 weeks for credit-hour programs, defined in 34 CFR §668.3(a)(1)(i).

Financial Aid Verification Policy

As part of the financial aid application process, some students are selected for what is termed “verification”. This means that we are requesting additional information to verify the information provided on the FAFSA. Not all students will be asked for the same information. In addition, the need to verify is assessed each year, so a student may be selected one year but not another, or a student may be asked to submit the same information each year. Either way, the goal is to have an accurate assessment of the student and his/her family’s financial situation in order to determine need. Finally, at any point in the award processing, if we find it necessary, we may require additional information.

Students will be notified via email if verification documents are requested. Students are responsible for sharing information requests with their parents, if applicable. Students that are selected for “verification” for a given academic year may not receive any financial aid for that year until they have provided all documents required for verification.

Low Income Form / Statement of Support Form Policy

Students will only be required to complete the Low Income Form / Statement of Support Form when they have been selected for verification, the income they reported on the FAFSA is less than $2000, and the institution has concern regarding how they were able to support themselves on their reported income.

Tuition Billing and Disbursement Date

If a student has submitted all required items in their financial aid file and been determined to be eligible and completed the first 5 weeks of their term, their financial aid will be disbursed on the first day of the seventh week of the term. Students will not be billed until the first day of the seventh week of the term. However, City Vision will perform a Return to Title IV calculation for all students who have academically participated in their courses for at least one day and are otherwise eligible for federal student aid.
If after institutional charges have been calculated, the student has a credit balance on their account, City Vision then has 14 days to issue a credit balance check (first day of the 9th week of the term), as stated in 34 CFR 668.164(h)(2). This check will be issued to the student, rather than the funds retained for future terms.
Note: 34 CFR 690.76 states:
Frequency of payment. 
(a) In each payment period, an institution may pay a student at such times and in such installments as it determines will best meet the student’s needs.
(b) The institution may pay funds in one lump sum for all the prior payment periods for which the student was an eligible student within the award year. The student’s enrollment status must be determined according to work already completed.
Our mission is to transform the world through radically affordable Christian education to underserved communities via distance learning. Given this mission, we believe that this timing best meets our student needs because it helps us continue to provide our programs in the most affordable way possible.

Credit Balance Refund Policy

Students whose financial aid results in a credit balance will receive a refund within 14 days of the credit balance occurring unless the credit balance occurred before the term began, in which case, the refund will be issued within 14 days of the start of the term.

Should a credit balance occur as the result of an overpayment for a non-financial aid student, after withdrawal, the excess will be refunded to the payer within 30 days.

Uncashed and unclaimed refund checks will be credited back to the student’s account and the funds returned to the program from which they came within 240 days.

Federal Student Financial Aid Penalties for Drug Law Violations

During a period of enrollment for which a student was receiving Title IV funds, a conviction for any offense under any federal or state law involving the possession or sale of illegal drugs will result in the loss of eligibility for any Title IV grant, loan, or work-study assistance.

Disbursement Notification Policy

If City Vision credits a student ledger account with a Direct Loan, Federal Perkins Loan, or TEACH Grant program funds, City Vision will notify the student or parent by email or other documented means of—

(i) The anticipated date and amount of the disbursement;

(ii) The student’s or parent’s right to cancel all or a portion of that loan, loan disbursement, TEACH Grant, or TEACH Grant disbursement and have the loan proceeds or TEACH Grant proceeds returned to the Secretary; and

(iii) The procedures and time by which the student or parent must notify the institution that he or she wishes to cancel the loan, loan disbursement, TEACH Grant, or TEACH Grant disbursement.

City Vision will do this no earlier than 30 days before, and no later than 30 days after, crediting the student’s ledger account.

Outstanding Checks Policy

If students that are given a financial aid refund check do not cash their check, they will be notified at least once before the 240 day limit on cashing checks to see if they need a check to be reissued. City Vision will reissue checks to students that request them. For checks that are still outstanding, City Vision will issue a stop payment on the checks and refund them to the US Department of Education before 240 days from the original date of the check being issued.

Financial Aid Shopping Sheets Policy

In compliance with the Principles of Excellence for institutions receiving VA funds, City Vision University will issue a Financial Aid Shopping Sheet showing an estimate of the aid eligibility for any student who is eligible to receive VA funds. City Vision will not issue Financial Aid Shopping Sheets to Title IV students who are not eligible for VA funds.

VA Funds Payment Policy

In compliance with the Veterans Benefits and Transition Act of 2018, City Vision University will not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries or other institutional facilities, or the requirement that a Chapter 31 or Chapter 33 recipient borrow additional funds to cover the individual’s inability to meet his or her financial obligations to the institution due to the delayed disbursement of a payment by the U.S. Department of Veterans Affairs.