The first step in qualifying for financial assistance is completing and filing the Free Application for Federal Student Aid (FAFSA), which serves as an application for all federal – and most state – student aid programs.
The FAFSA can be filed electronically at http://fafsa.ed.gov; be sure to include the Chamberlain school code (006385). Chamberlain’s priority deadline for filing the FAFSA is April 1. The FAFSA should be filed within two weeks of application for admission and must be renewed each year. Prompt submission assures consideration for maximum available financial aid. The information reported on the FAFSA is used to determine the expected family contribution (EFC). Financial aid eligibility is determined by subtracting the EFC from the total estimated educational expenses.
After the FAFSA has been processed, the student will receive a Student Aid Report (SAR). The student and/or family must review the SAR for accuracy and notify the financial aid office of any necessary corrections.
Assistance packages are developed using information from the FAFSA and any supplemental documents. The foundation for all assistance packages is contributions from student and family income and assets. Chamberlain provides students with award letters indicating the amount of financial aid for which they may be eligible, sources from which the aid may be received, as well as approval of their Chamberlain College of Nursing EDUCARD® Plan agreement.
Reinstated/readmitted students may be considered for financial aid if they meet all eligibility requirements.
Chamberlain complies with all applicable state and federal equal credit opportunity laws; however, Chamberlain cannot guarantee financial assistance or credit to any student.
Verification
The federal government requires some federal student aid applicants to verify the accuracy of information on their applications. Chamberlain requires selected applicants to submit requested documentation before awarded aid is disbursed. Therefore, students and their parents may be required to submit a copy of their prior-year federal income tax returns and additional household information. If information on any of the documents conflicts with what was reported on the application, students will be required to provide additional information. Failure to do so results in loss or non-receipt of aid.
If Chamberlain College of Nursing suspects that an individual falsified information and/or altered documentation to increase aid eligibility and fraudulently obtain federal funds, Chamberlain College of Nursing will file a report with the Office of Inspector General or with local law enforcement officials.
Satisfactory Academic Progress
In order to receive federal aid, a student must maintain satisfactory academic progress according to the Higher Education Act of 1965, as amended. Chamberlain College of Nursing also requires all students receiving any type of institutional aid to meet these standards.
Federal Refunds
According to federal regulations, a federal refund calculation must be performed if a student completely withdraws from all classes after the start of the semester and is receiving federal financial aid.
Length of enrollment is equal to the number of calendar days in the period in which the student was enrolled, excluding breaks of five days or more. All days including weekends and holidays are counted.
The withdrawal date is the date the student begins the official withdrawal process, or otherwise officially notifies the institution of his/her intent to withdraw (electronically, in writing, in person, or by telephone, whichever is earlier). For students who withdraw without notification, the school may use either the last date of academic attendance or the midpoint of the enrollment period as the withdrawal date. Failure to notify the Financial Aid Office of a withdrawal may result in additional tuition liability.
- If the percentage of semester completed is 60 percent or more, then the student has earned 100 percent refund of the federal aid.
- If the percentage of semester completed is 60 percent or less, then the calculated percentage will be used to determine the amount of aid to be refunded.
Example: 20 percent of the semester completed earns the student 20 percent of the entitled federal aid.
Financial aid refunds are distributed according to the order below:
- Unsubsidized FFEL/Direct Federal Stafford Loan
- Subsidized FFEL/Direct Federal Stafford Loan
- Federal PLUS Loan
- Federal Pell Grant
- FSEOG
- Other Title IV aid programs
- The student