Graduate Financial Services
Graduate Financial Services: Policies
In order to ensure your understanding of our policies and procedures,
we have provided brief overviews of what you need to know.
If a student must withdraw from the College before the completion of studies, he/she is first required to consult with the Primary Instructor of his/her cohort, and submit a status change form (see Appendix A) to the SADE office. Please note that the effective date of withdrawal will be according to the date the student notifies the Registrar.
Please be aware that withdrawal from the program will affect a student’s eligibility for financial aid, loan deferments and scholarships/grants. Until the SADE office is notified, absences continue to accumulate. Students should read the College refund policy at the beginning of this handbook.
Withdrawals: If a student finds it necessary to withdraw from the program, he/she will receive credit for any courses completed. Withdrawal from the program will jeopardize any financial aid for the remainder of the academic year. (These regulations have been
set by the Federal and State Governments.)
For financial adjustment in case of withdrawal, please call the Office of SADE Financial Services at (845) 358–5360, extension 4478. Re-admissions: Students who fail to officially withdraw from the program must apply for re-admission to the program. If approved for re-admission, a student may join the next appropriate class and pay the current tuition and fees. SADE Student Handbook 41
A. REFUND POLICY
Since Nyack College School of Adult and Distance Education is on a modular schedule, our refund policy for students wishing to withdraw differs slightly from most traditional programs. Any credit balance will be used first to cover all educational, expenses first. The remaining credit balance will remain on account until the Office of Student Financial Services is notified via, Refund Request Form.
Credit refund request forms must be received by the Office of Financial Aid by12:00pm Friday in order for a credit refund to be processed and mailed by the following Friday. Requests submitted after the 12:00pm deadline Friday (Monday –Thursday) will not be mailed for 14 business days. Students must have a credit on their account (over and above tuition, and fees for the current term) in order for the refund to be processed.
To be making satisfactory academic progress in the first of the two semesters at Nyack, students must earn at least 10 credits with a 1.7 G.P.A. In order to graduate at the end of the second semester, however, students must complete the 32 required credits with a cumulative 2.0 G.P.A.
If a student does not have the required 10 credits AND a G.P.A. of 1.7, the student will NOT be eligible to receive any financial aid for the second semester. This includes any loans, grants or scholarships. In order to continue attending Semester Two, the student will be required to pay the tuition in full before the first week of Semester Two (week 27). If a student must stop out of the cohort after Semester One, the student may transfer into another cohort after the required academic standard has been met.
New financial aid paperwork must be completed before any student may return to the Accelerated Bachelor’s Degree Program. Students in jeopardy of not meeting Satisfactory Academics Progress will be notified in writing on the fourth night of Worldviews in the Global Market (week 24). If you are granted an academic waiver (Page 29 Section E) to continue
in Semester Two and have not earned the required 10 credits AND have a 1.7 GPA from Semester One, you are not eligible to receive any federal, state or institutional aid.
E. SATISFACTORY ACADEMIC PROGRESS - PROBATION
Students who end Semester One with five (5) or fewer credits completed, or less than a 1.7 Grade Point Average, will be administratively withdrawn from their cohort. An appeal form
is available on our website for students who wish to appeal for permission to stay in the ADC program. Students who finish Semester One with six (6) to nine (9) credits will be automatically
placed on academic probation for the first eight weeks of Semester Two. If by the end of 8 weeks they have still not attained 10 credits or a 1.7 GPA, they will be administratively withdrawn. There is no appeal of this decision.
Students who have not paid their previous semester/trimester in full and/or have not solidified payment arrangements for the next semester/ trimester will be placed on hold and will be unable to proceed into the next semester/trimester. Students are notified on the third night of Faith and Worldview for the Adult Degree Completion Program, and are required to have completed all necessary paperwork and payments by no later than one week prior to the start of their semester.
It is important for students to be aware that a 1.5% finance charge is placed on accounts with greater than a zero balance each month, for a total of 19.6% per year. While students enrolled in the Nelnet Business Solutions Automatic Payment Plan are exempt from receiving finance charges, students with a greater than zero balance are responsible for paying both the balance and the accruing finance charges.