- Academic Year Definition
- Financial Aid Verification Policy
- Low Income Form Policy
- Unusual Enrollment History Policy & Procedure
- Professional Judgment Policy
- Tuition Billing Date
- Credit Balance Refund Policy
- Federal Student Financial Aid Penalties for Drug Law Violations
- Disbursement Notification Policy
- Outstanding Checks Policy
- Financial Aid Shopping Sheets Policy
- VA Funds Payment Policy
- HEERF Reporting
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
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
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.