FAQ

financial aid

What supplementary aid does NUC offer?

NUC offers the following supplementary aid:

State:

 

Supplementary Educational Sub-graduate Program (PAESS): Aid aimed to cover legitimate student costs for which the Pell grant did not suffice.

Students with Merit Program.: Priority in granting this scholarship is given to freshmen who come from high school with a GPA of 3.00 or more and who are enrolled full time (12 credits or more). High Honor Students Program: Scholarship for students with exceptional academic merit in financial need who meet all the eligibility requirements of the Council on Higher Education of Puerto Rico. Special Fund for Students Ineligible for the Pell Grant for LEU > 600%: This special find was created for students who used up or reached their lifetime limit of the Pell grant funds, but still show financial need and meet all the eligibility requirements of the Council on Higher Education of Puerto Rico.

Federal:

FSEOG: Federal grant program for undergraduate students who haven’t fulfilled all the requirements of a bachelor’s degree yet. To be eligible for this grant, the student must show evidence of extreme financial need. National University College, by federal requirement, must give priority to students who are eligible to the Pell grant whose expected family contribution is zero.

Self-help:

Federal Work-Study Program: The federal government provides from 75% to 100% of this program’s funds, and National University College matches with institutional funds. Participants are assigned a part-time job for which they are paid to help defray their educational expenses. Students have the opportunity to work in different departments within the institution, public agencies, and private non-profit organizations. The monthly payment is made at the end of the month, according to the hours worked. The salary accrued from this program is the federal minimum wage in effect and sometimes (depending on the complexity of the work done by the student) more than the federal minimum wage.

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How much will the grant cover?

The US Department of Education requires that all schools receiving federal Title IV funds use the federal formula for determining economic aid offered to students. Financial need is defined as the difference between the estimated costs of studies (cost of education) and the expected family contribution (EFC) to subsidize his or her educational expenses.

If the cost of education is higher than the expected family contribution, the student may be eligible due to financial need for all financial aid programs subject to need. Conversely, if the cost of education is lower than the expected family contribution, the student is not eligible due to financial need to financial assistance programs subject to need.

After receiving your letter stating the financial aid you are eligible for, you may review tuition costs, by clicking here.

The Bursar’s Office may give you information on your payment balance (if applicable).

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What is my lifetime eligibility used (LEU) up to now?

The dollar limit on federal Pell grants a student can receive is equal to six academic years, or 600%. Once you reach the maximum usage time, you will not be eligible to receive this aid again.

Through National Student Loan Data System, you can check your percentage of Pell grant used. Go to this link:

https://www.nslds.ed.gov/nslds/nslds_SA/

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When does NUC need to receive the FAFSA application?

The FAFSA application must be completed before the start of the academic year and/or as soon as information about your or your parents’ income is available.

NUC should have the results of the application up to the last day of the academic year, prior to your last day of attendance or in mid-September 2013, whichever occurs first. If NUC does not receive the information electronically, you must submit the SAR response to the Financial Aid Office. This document and the ISIR have the EFC used to determine your eligibility for financial aid.

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Why was I chosen for the verification process?

The US Department of Education has a process to verify applications and make corrections. The Central Processing System (CPS) selects the applications that will undergo the verification process. You must deliver personally or send the requested documents to the Office of Financial Aid on time. The verification process is considered completed once the student submits all the required information to the Office of Financial Aid and this office certifies that there is no conflicting information and/or data. Once the process is complete, the student may receive the offers and disbursement of aid for which he or she becomes eligible.

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What income should the student provide if he/she or his/her parents have a pre-nuptial agreement?

If the student lives with both parents, he or she must provide the state or federal income tax return form of both parents.

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Who is considered part of the household?

Any member of the immediate family who receives more than 50% from the parents of a dependent student or an independent student and his/her spouse may be considered as part of the household, even if that person does not live at home. For example, a student who works and does not reside in the home of his or her parents, but receives more than 50% in financial support from them, should be considered with his or her as well as anyone else residing at home as part of the family.

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What is an emancipated student?

An emancipated student is considered an independent student if he or she can provide a court-issued determination from your state of residence, stating that he or she was or is an emancipated minor. The court, not an attorney, determines emancipation.

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Who are considered veterans for financial aid purposes?

For financial aid purposes, a student is considered a veteran if he or she served on active duty under the U.S. Armed Forces (Army, Navy, Air Force, Marines, Coast Guard, National Guard, Reserve) and was discharged by other reasons other than dishonorable discharge. There is no minimum length of service required, but the classification must be active duty.

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How do I obtain a loan?

To obtain a federal direct loan, the student must be enrolled in six credits or more and fill out the FAFSA application at www.fafsa.gov. Then, the student must complete the Entrance Counseling and the Master Promissory Note (MPN) on the webpage https://www.studentloans.gov. NUC will receive the answer to your FAFSA application, as well as notification of the Entrance Counseling and the MPN, after which you will receive a letter indicating the maximum amount of loans to which you are eligible

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What is the 150% direct subsidized loan limit?

As of July 1, 2013, the U.S. Department of Education limited the maximum amount of subsidized loans that an undergraduate student may receive to 150% of the duration of the program in which he or she is enrolled. A student enrolled in a two-year program will be eligible for subsidized loans for three years, while a student enrolled in a four-year program will have eligibility for six years. This rule applies only to students applying for federal loans for the first time.

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Who is considered a student applying for federal loan for the first time?

Any student who does not have federal loan principal balance as of July 1, 2013, or as of the date when the student receives a federal loan after July 1, 2013. A student who received a federal loan in the past, but repaid it in full as of July 1, 2013 is considered a new student borrower and the rule applies to 150%.

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