Consumer information

Federal regulations require us to make certain consumer information easy to find for current and prospective students, as well as current and future employees. This information helps you understand who we are and how we operate — from general university information and academic programs to financial aid, health and safety policies, enrollment, diversity, and the outcomes and achievements of our academic programs.

Consumer information:

• General university information
• Student financial assistance
• All consumer information

Student Information and Confidentiality

Pursuant to the Family Education Rights and Privacy Act (FERPA), all records and data submitted with an application for financial aid will be treated as confidential information. Students should review and understand the University’s FERPA policy.

Students will be required to confirm their identity prior to the release of financial aid information.  Students who appear in person will be able to show their government or University issued photo ID or confirm personal identifiable information (PII) prior to the release of confidential information.  Students have a right to identify an authorized person(s) to call and obtain financial aid information on their behalf.  Their designee(s) will also need to confirm PII information and/or provide a passcode prior to the release of student information.

FINANCIAL AID RIGHTS & RESPONSIBILITIES

As a financial aid recipient, you have the following rights and responsibilities relating to financial aid.  Please read thoroughly

You have the right to know

• I can seek financial aid counseling.
• What financial assistance is available, including all federal, state and University funding.
• The procedures, forms, deadlines and eligibility requirements to apply for assistance.
• The criteria for selecting aid recipients and determining the amount of aid awarded.
• The composition of the cost of attendance and how amounts are determined.
• How the expected family contribution is calculated, how my financial need is established and how any outside resources may impact my eligibility.
• I can accept or decline any of the financial aid awards awarded.
• I can obtain written information on my loan obligations, including:
  • Information about my lender and servicer, when there is a change in my lender and/or servicer,
  • The Interest rate and loan fees assigned to my loan,
  • Principal and interest balances owed,
  • Available grace periods,
  • First repayment date,
  • Repayment options including length of time to repay, deferment/forbearance options, loan forgiveness options, prepay my loan in whole or in part anytime without an early-repayment penalty; and documentation when my loan is paid in full.
• The University’s tuition refund and the return of financial aid policies as a result of declaring a leave of absence, withdrawing, or being dismissed from the University.
• When financial aid funds will be disbursed and the method of receiving a credit balance refund.
• The standards of maintaining Satisfactory Academic Progress for Financial Aid Eligibility and the process of appeals if I lose eligibility.
• That the information you provide to the Financial Aid Office will be treated confidentially as mandated by the Family Educational Rights and Privacy Act and the Gramm-Leach-Bliley Act.
• You may receive more than one Direct Loan under the MPN that you previously signed for up to 10 years if the school you attend is authorized to use the multi-year feature of the MPN and chooses to do so, which NEOMED does. If you do not want to receive more than one loan under the same MON, you must sign a new MPN for each loan. If you do not want to receive more than one loan under the same MPN, you must notify NEOMED or your servicer in writing.

Your responsibilities

You are responsible for:

• Accurately and honestly completing the Free Application for Federal Student Aid (FAFSA). Providing false or misleading information is a criminal offense.
• Knowing required deadlines and responding in a timely manner to requests for documentation or disclosures of new information.
• Reapplying for financial aid each year by the deadlines announced by the Financial Aid Office.
• Seeking assistance if you do not understand materials you are required to complete or information provided to you about your awards.
• Completing required student loan entrance counseling before federal student loans disburse to your student tuition account and completing required exit counseling when your enrollment drops below half-time or before you graduate.
• Reporting any outside resources you receive to assist with education expenses, including both direct and indirect costs.
• Repaying your loans according to the repayment schedule, even if you do not complete your academic program, are dissatisfied with the education received or are unable to find employment after graduation.
• Using federal, state, University or private funding only for expenses related to your enrollment at NEOMED.
• Reading, understanding and complying with all forms and agreements you sign and maintaining copies of those documents.
• Understanding policies related to how your enrollment affects financial aid eligibility, including but not limited to the Satisfactory Academic Progress for Financial Aid Eligibility Policy, the Tuition, Fee and Insurance Recalculation Policy and the Financial Aid Recalculation Policy.
• Notifying the University of changes to your name, address, phone number or direct deposit authorization.
• Notifying your lender or loan servicer if:
  • You move or change your address
  • You change your telephone number
  • You change your name
  • You change your Social Security number
  • You change employers or your employer’s address or telephone number changes
  • Anything occurs that may affect your eligibility for an existing deferment or forbearance, or your qualification for an income-driven repayment plan

Financial aid professionals’ statement on ethical principles & conduct

NEOMED financial aid professional staff:

• Do not require students to use a particular lender or limit students’ choice of lenders in any way.
• Do not recommend external lenders to students or parents and do not maintain a list of preferred lenders. We may provide a list of possible lenders as suggestions only and do not endorse one lender over another.
• Process loan applications through any lender a student or parent chooses.
• Do not solicit or accept anything of value from any lender in exchange for an advantage related to making educational loans to NEOMED students.
• Prohibit financial aid office employees, or any employees with responsibilities related to educational loans, from accepting gifts of more than nominal value from any lender.
• Prohibit financial aid office employees, or any employees with responsibilities related to educational loans, from entering into consulting arrangements or contracts to provide services to lenders related to educational loans.
• Prohibit financial aid office employees, or any employees with responsibilities related to educational loans, who serve on a lender’s advisory board, commission or group from receiving anything of value in connection with that service.
• Prohibit employees, representatives or agents of external lenders from providing staffing services to the financial aid office.
• Prohibit employees, representatives or agents of external lenders from identifying themselves to students or parents as financial aid office staff.
• Do not assign a borrower to a particular lender through award packaging or other methods and do not refuse to certify or delay certification of a loan based on a borrower’s choice of lender or guaranty agency.
• Adhere to all applicable federal, state and institutional laws and regulations governing financial aid programs and apply them equitably and consistently.
• Provide students with the information they need to make informed decisions about attending and paying for their education at NEOMED.
• Protect student and parent private information in accordance with state and federal law and use it only for the application, awarding and administration of aid under Title IV, state and institutional aid programs.