Q: I do not have the ability to pay the registration fee. Is there anything that can be done?
A: In many cases, arrangements can be made, with approval from the Director of Financial Aid to either work the registration fee into the financial aid, a separate payment plan or in extreme cases there is the possibility of this fee being waived.
Q: I have a poor credit rating. Will this hurt my child's chances of getting a student loan?
A: No, the only way you would be hurt by a poor credit rating is if he or she is in default on a previous student loan. Parents, however, could be denied a Federal PLUS Loan on the basis of credit history.
Q: If I don't finish the Academy program or if I am unsatisfied with my education, do I need to repay my loan?
A: Yes, once your loans are issued you will be responsible to repay any funds that the school is legally allowed to keep along with any applicable fees and interest. Check with your Financial Aid Administrator for more information.
Q: Our family makes over $50,000 a year. Does this mean we are not eligible for financial aid?
A: Not necessarily. There are a number of factors in addition to your household income that determine if you are eligible for financial aid. Also note there are loans which families of all incomes can qualify for.
Q: Do I have to make payments on my student loan while I'm in school?
A: In most cases, you can postpone payments while you are in school. You may, however, choose to pay any interest that accrues on an unsubsidized loan.
Q: If I am awarded financial aid, when will I get the money?
A: Methods of distributing financial aid vary from campus to campus. Most financial aid will not be given directly to you. Financial aid funds are distributed at certain intervals in your program as long as you have met the required criteria, which consist of satisfactory attendance and grade point average. No loans will be issued until you have been in school for at least 30 days.
Q: What happens if I don't repay my student loan?
A: If you fail to repay your loan according to the terms disclosed on your promissory note, you are considered to be in default.