© Copyright 2011 Guy’s Academy Hair, Skin & NailsFEDERAL TITLE IV APPLICATION PROCESSAny student who wishes to apply for Federal Title IV financial assistance must complete a Free Application for Federal Student Aid (FAFSA). Guy’s Academy school code is 017375. A processed Institutional Student Information Record (ISIR) will be electronically transmitted to the financial aid office and used to determine student Title IV eligibility and will be retained in the students financial aid file.CORRECTION OF INFORMATIONIf for any reason a FASFA is corrected by the student or financial aid administrator a new ISIR is generated and will be used to determine eligibility. If corrections result in a change in eligibility, or a student becomes ineligible for Title IV assistance, the Financial Aid Administrator will create an updated financial plan and inform the student.APPLICATION VERIFICATION REQUIREMENTSA certain portion of FASFA’s processed are subject to verification. Verification means that the applicant is asked to “verify” or confirm information on the application. Federal law says we have the right to ask for this information before awarding Title IV financial aid. Verification will be completed by obtaining a variety of documents for the applicant and/or parents and may vary based on information provided. Examples can include a verification worksheet, signed federal tax returns and/or W-2 information, marriage license, child’s birth certificate and third party confirmation of income or benefits. Citizenship verification is determined by the United States Department of Education Central Processor. Data matches are made with Social Security Administration and the United States Citizen and Immigration Service (USCIS). The results of these matches are reported on the applicants ISIR.Except in instances where extenuating circumstances intervene, required documentation must be provided within 30 days of the date requested. All financial aid disbursements are withheld until this process has been completed. Consequences for failure to provide verification information within the 30-day period:Student will receive no disbursement of funds if they fail to provide the information required for verification within 30 days. In addition, student will be expected to make cash payments to Guy's Academy in lieu of any expected financial aid disbursements and may be dismissed from school. If results of the verification satisfy the requirements, first disbursement of funds to which the student isentitled will be released. If verication results in conflicting information, student will be asked to visit the Financial Aid Office where inaccurate items will be discussed and further documentation may be requested.If the financial aid administrator has reason to believe that any application has been intentionally submitted under false or fraudulent circumstances, such application will be referred to the Department of Education Office of the Inspector General.A student’s financial need may not be funded entirely, or in some cases not at all, by Title IV programs. Students and/or parents (in the case of a dependent minor student) are expected to pay any unfunded portions.APPLICANT’S FINANCIAL AID HISTORYIt is a federal requirement that Guy’s Academy determine any and all federal Title IV aid previously received by any financial aid applicant. Guy’s Academy uses the National Student Loan Data System (NSLDS) to obtain the financial aid history of each applicant. This information is found on the applicants ISIR. Financial aid disbursements are withheld until confirmation of previous aid is received and the applicant is determined to be in good standing with the United States Department of Education. All information pertaining to student loans obtained for enrollment at Guy’s Academy will be referred to NSLDS and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users. To receive Title IV assistance, Guy’s Academy students must meet the standards of Satisfactory Academic Progress. Satisfactory Academic Progress (SAP) is discussed in detail in this handbook. Students SAP is evaluated both qualitatively and quantitatively at the end of each payment period as defined in the enrollment agreement. Students must maintain a minimum of 80% cumulative grade point average and attendance rate. Students must complete each payment period before further Title IV funds can be awarded. Students must complete their program of study within 150% of the normal time frame of the program as described in the handbook. Course incomplete, withdrawals, and repetitions have no effect on satisfactory academic progress. FINANCIAL AID WARNINGIf a student does not meet the minimum standards at any payment period they will be placed on Financial Aid Warning for that payment period. The student will be eligible for financial aid during the Financial Aid Warning period. If the student does not meet the minimum standards at the end of the Financial Aid Warning period, he/she will lose eligibility for Title IV programs and will be terminated. The student may appeal his/her loss of eligibility.APPEAL PROCESS AND FINANCIAL AID ELIGIBILITYA student may appeal his/her loss of eligibility for Title IV funds by submitting a written request for appeal to the School Director. Documentation must be provided that the student did not meet the minimum standard because of mitigating circumstances (i.e., death of an immediate family member, an injury or illness of the student, or other special circumstances beyond the students control). The student must also provide an explanation as to what has changed in the student’s situation that will allow the student to demonstrate SAP at the next evaluation.Appeal decisions will be determined by Administrator and Financial Aid Administrator. Appeal decision will be provided to student in writing within five business days.RE-ESTABLISHMENT OF FINANCIAL AID ELIGIBILITYIf the student’s appeal is successful, the student will be able to continue on Financial Aid Warning for one payment period and will be eligible for financial aid. Student must satisfactorily complete an academic plan of improvement. If the student does not meet SAP at the end of the financial aid warning period, the student will be terminated.If a student fails to meet minimum standards, he/she will be provided written notice of his/her status and the consequences of the status by the Financial Aid Administrator.
© Copyright 2011 Guy’s Academy Hair, Skin & NailsFEDERAL TITLE IV APPLICATION PROCESSAny student who wishes to apply for Federal Title IV financial assistance must complete a Free Application for Federal Student Aid (FAFSA). Guy’s Academy school code is 017375. A processed Institutional Student Information Record (ISIR) will be electronically transmitted to the financial aid office and used to determine student Title IV eligibility and will be retained in the students financial aid file.CORRECTION OF INFORMATIONIf for any reason a FASFA is corrected by the student or financial aid administrator a new ISIR is generated and will be used to determine eligibility. If corrections result in a change in eligibility, or a student becomes ineligible for Title IV assistance, the Financial Aid Administrator will create an updated financial plan and inform the student.APPLICATION VERIFICATION REQUIREMENTSA certain portion of FASFA’s processed are subject to verification. Verification means that the applicant is asked to “verify” or confirm information on the application. Federal law says we have the right to ask for this information before awarding Title IV financial aid. Verification will be completed by obtaining a variety of documents for the applicant and/or parents and may vary based on information provided. Examples can include a verification worksheet, signed federal tax returns and/or W-2 information, marriage license, child’s birth certificate and third party confirmation of income or benefits. Citizenship verification is determined by the United States Department of Education Central Processor. Data matches are made with Social Security Administration and the United States Citizen and Immigration Service (USCIS). The results of these matches are reported on the applicants ISIR.Except in instances where extenuating circumstances intervene, required documentation must be provided within 30 days of the date requested. All financial aid disbursements are withheld until this process has been completed. Consequences for failure to provide verification information within the 30-day period:Student will receive no disbursement of funds if they fail to provide the information required for verification within 30 days. In addition, student will be expected to make cash payments to Guy's Academy in lieu of any expected financial aid disbursements and may be dismissed from school. If results of the verification satisfy the requirements, first disbursement of funds to which the student isentitled will be released. If verication results in conflicting information, student will be asked to visit the Financial Aid Office where inaccurate items will be discussed and further documentation may be requested.If the financial aid administrator has reason to believe that any application has been intentionally submitted under false or fraudulent circumstances, such application will be referred to the Department of Education Office of the Inspector General.A student’s financial need may not be funded entirely, or in some cases not at all, by Title IV programs. Students and/or parents (in the case of a dependent minor student) are expected to pay any unfunded portions.APPLICANT’S FINANCIAL AID HISTORYIt is a federal requirement that Guy’s Academy determine any and all federal Title IV aid previously received by any financial aid applicant. Guy’s Academy uses the National Student Loan Data System (NSLDS) to obtain the financial aid history of each applicant. This information is found on the applicants ISIR. Financial aid disbursements are withheld until confirmation of previous aid is received and the applicant is determined to be in good standing with the United States Department of Education. All information pertaining to student loans obtained for enrollment at Guy’s Academy will be referred to NSLDS and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users. To receive Title IV assistance, Guy’s Academy students must meet the standards of Satisfactory Academic Progress. Satisfactory Academic Progress (SAP) is discussed in detail in this handbook. Students SAP is evaluated both qualitatively and quantitatively at the end of each payment period as defined in the enrollment agreement. Students must maintain a minimum of 80% cumulative grade point average and attendance rate. Students must complete each payment period before further Title IV funds can be awarded. Students must complete their program of study within 150% of the normal time frame of the program as described in the handbook. Course incomplete, withdrawals, and repetitions have no effect on satisfactory academic progress. FINANCIAL AID WARNINGIf a student does not meet the minimum standards at any payment period they will be placed on Financial Aid Warning for that payment period. The student will be eligible for financial aid during the Financial Aid Warning period. If the student does not meet the minimum standards at the end of the Financial Aid Warning period, he/she will lose eligibility for Title IV programs and will be terminated. The student may appeal his/her loss of eligibility.APPEAL PROCESS AND FINANCIAL AID ELIGIBILITYA student may appeal his/her loss of eligibility for Title IV funds by submitting a written request for appeal to the School Director. Documentation must be provided that the student did not meet the minimum standard because of mitigating circumstances (i.e., death of an immediate family member, an injury or illness of the student, or other special circumstances beyond the students control). The student must also provide an explanation as to what has changed in the student’s situation that will allow the student to demonstrate SAP at the next evaluation.Appeal decisions will be determined by Administrator and Financial Aid Administrator. Appeal decision will be provided to student in writing within five business days.RE-ESTABLISHMENT OF FINANCIAL AID ELIGIBILITYIf the student’s appeal is successful, the student will be able to continue on Financial Aid Warning for one payment period and will be eligible for financial aid. Student must satisfactorily complete an academic plan of improvement. If the student does not meet SAP at the end of the financial aid warning period, the student will be terminated.If a student fails to meet minimum standards, he/she will be provided written notice of his/her status and the consequences of the status by the Financial Aid Administrator.
