Financial Aid Policies
- Financial Aid – In order to receive federal financial aid (Title IV), you must be admitted to a program of Frontier Nursing University as a degree or certificate candidate. The certificate program must be a minimum of 33 weeks in length. To begin the financial aid application process, you will need to complete the documents outlined on your letter of acceptance from the Financial Aid Office which are: the Free Application for Federal Student Aid (FAFSA), graduate-level Direct Loan Entrance Counseling, and Direct Loan Master Promissory Note.
- Renewal of Financial Aid – You must reapply for financial assistance each year such assistance is requested. Renewal of financial assistance is not automatic. You must access https://fafsa.ed.gov to complete your FAFSA application. Financial aid will not be disbursed until the financial aid office receives all information requested. This includes a completed FAFSA report (ISIR), any missing documentation, and any verification issues that need to be resolved.
- Loan Disbursements – The Financial Aid Office will begin requesting federal loan disbursements from the Department of Education by week four of each term for students having met SAP and having all required documents on file. The loan funds will then be applied to student accounts and any direct deposit residuals will be initiated by the end of week five. Residuals delivered via check can take an additional 10-14 business days. If you have met federal requirements and FNU’s SAP policy you will receive your tuition payment and residual in a timely manner. Please review your award letter and loan disclosure and disbursement statement to summarize dates and amounts of loans. Please note, loans cannot be certified for disbursement after your graduation date.
- Changes in Finances or Extra Assistance – Your financial aid award is based upon the information you provided on your application for financial assistance. You are required to notify the school of any change in this information. You are also required to notify the financial aid office of any additional sources of financial assistance (scholarships, grants, loans, etc.) which become available to you. Frontier Nursing University reserves the right to adjust your award if such additional assistance exceeds the amount of financial assistance you are eligible to receive. Frontier Nursing University also reserves the right to adjust your award if changes in the information included in your application for financial aid alters your calculated financial need.
- Withdrawals – If you are receiving financial aid and find it necessary to withdraw from the program, you must notify the Registrar and your advisor of your intent to withdraw. Student aid recipients who withdraw from the program may be refunded a portion of their tuition. Refunds are processed based upon the student's effective withdrawal date in relation to the most recent term of enrollment for which the student has paid. The FNU must return all or a portion of your financial aid funds to the sources from which they originated, depending on the date of withdrawal. The Financial Aid Office will notify you of the amount (if any) that will be refunded to the originating source. All Title IV refunds are made according to the federal Department of Education regulations. Your lender will contact you prior to the 6 months before your first payment should begin, starting with either your withdrawal or graduation date.
- Full-time and Part-time – For financial aid, a courseload of 5 or more credits is considered full-time; 4 or fewer credits is considered part-time. Please see the FNU catalog for additional details.
- Satisfactory Academic Progress (SAP) – In order to receive federal financial aid each term, you must meet the criteria for Satisfactory Academic Progress. A minimum of three (3) credits must be completed each term, in addition to meeting the minimum completion rate (completed credits vs. registered credits) for your program. Please see the FNU catalog for full details.
- Lack of Satisfactory Academic Progress (SAP) – Failure to meet minimum SAP requirements for one (1) term will result in being placed on Financial Aid Warning for the following term. Students can still receive federal financial aid during a Warning term. If SAP requirements are met during the Warning term, the student will be removed from Financial Aid Warning and financial aid disbursements will continue. If a student does not meet SAP requirements during the warning term, meaning SAP has not been met for two (2) consecutive terms, the Financial Aid Warning will progress to Financial Aid Probation and the student will not be eligible for federal financial aid until SAP requirements are met once again. Please see the FNU catalog for more detailed information regarding Financial Aid Policies and maintaining satisfactory progress.
- Interest Rates – Graduate-level Direct Subsidized/Unsubsidized Loans certified for disbursement after 7/1/2019 have a fixed 6.08% interest rate.
- Changes in Personal Information – Please notify the Financial Aid Office at FNU, 2050 Lexington Road, Versailles, KY 40383 of any change in name, address, or anticipated graduation date. Updates to address or name changes need to be made directly to the Banyan tree under student directory.
- Financial Aid Verification Process – The U.S. Department of Education requires that a certain percentage of FAFSA filers be selected for verification. These students are selected by the Central Processing System or the FNU. If a student is selected for verification there are certain financial documents that must be provided to the Financial Aid Office for verification. Required verification items are: Household size, Number in College, Adjusted Gross Income (AGI), U.S. taxes paid, and certain types of untaxed income and benefits. For an explanation of the U.S. Department Verification policy, please contact the Financial Aid Officer.
- Know Your Program Cost and Financial Aid Available – Before you start your program please check the cost of the program and the amount of financial aid that can be offered. The catalog has the cost of each program and the payments due by terms. Currently students are eligible for up to $20,500 in Direct Unsubsidized Loans per year and can possibly borrow additional Grad PLUS loans. When borrowing keep in mind the total amount of loan repayment you must make when upon graduation. All loans borrowed have to be repaid within 10 years of when students graduate or cease to be a student at FNU. Remember to borrow wisely, but also realize this program should be an investment in your future.
- How to Apply for Scholarships – Scholarships are offered in the Spring and Fall terms for students who have earned 32 credits or more at FNU. You will receive an email notifying you of the scholarship details. Most scholarships are not need based and we encourage all students to apply for scholarships as they are announced if needed. Any scholarships received should reduce the total loan debt. You can access a list of internal scholarships on our Frontier Scholarships page.
Please feel free to e-mail the Financial Aid Office or call 859-251-4568 if you have questions about the financial aid procedures.
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