Our Financial Aid office is available to guide you and help you in your process. Here we share the answers to frequently asked questions about the process of availability and application for financial aid:
NUC University offers you the following supplementary financial aid:
Scholarship Program for Students with Academic Talent (BETA) – awarded to students with an average of 3.00 or more, enrolled full-time (12 credits or more) and who have an annual family income no greater than the equivalent of 80% of the median income in Puerto Rico.
FSEOG – Federal scholarship program for students enrolled at the undergraduate level who have not yet completed high school requirements. To be eligible for this scholarship, the student must show extreme financial need. NUC University, by federal requirement, must give priority to students eligible for the Federal Pell Grant and with an expected family contribution of zero.
Federal Work-Study Program: The federal government provides from 75% to 100% of the funds for this program and NUC University completes the match with institutional funds. Participants are assigned a part-time job for which they receive a salary that will help defray their education expenses. The student has the opportunity to work in different departments within the Institution, public agencies and in private non-profit organizations. Payment is made monthly at the end of the month, according to the hours worked. The salary to be earned from this program is the federal minimum salary in effect and in some occasions (depending on the complexity of the work carried out by the student) he is paid more than the federal minimum.
The Federal Department of Education requires that all educational institutions that receive federal Title IV funds use the federal formula for determining the financial aid to be offered to their students. Financial need is defined as the difference between the estimated expenses of studies (cost of education) and how much is the expected family contribution (EFC) of the student’s family to subsidize the educational expenses of the student.
If the cost of education is greater than the expected family contribution, the student may be financially eligible for all financial aid programs subject to need. On the contrary, if the cost of education is less than the expected family contribution, the student is ineligible due to financial need for financial assistance programs subject to need.
After receiving your offer indicating the aids for which you were eligible, you can review the tuition costs at the following address: (insert link). The Collections Office can guide you on your payment balance (if applicable).
The federal Pell grant money limit that 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 help again. Through the National Student Loan Data System you can verify your percentage of scholarship consumed at the following address: http://www.nslds.ed.gov/nslds_SA/
The FAFSA application must be completed before the beginning of the academic year and / or as soon as it has your or your parent’s income information.
NUC University must have the results of the application by the last day of the academic calendar, before your last day of attendance, in mid-September of each year; The thing that happens first. If NUC does not receive the information electronically, it must deliver the SAR response to the Financial Aid office. This document and the ISIR have the EFC that will be used to determine your financial aid eligibility.
The Federal Department of Education has a process for verifying applications and making corrections. The Central Processing System (CPS) selects the applications that will go through the verification process. You must deliver or send the documents requested by the Financial Aid Office on time. The verification process is considered completed once the student submits all the required information to the Financial Aid Office and it certifies that there is no conflicting information and / or data. Once the process is completed, the student will be able to receive the offers and disbursements of aid for which they are eligible.
If he lives with both parents, he must submit the state (Puerto Rico) or federal return for both.
Any member of the immediate family who receives more than 50% from the parents of a dependent student or an independent student and his spouse could be counted in the family nucleus, even if that person does not reside in the house. For example, a student who works and does not reside in the home of her parents but receives from them more than 50% in financial support, must count her parents and those who reside in the home under the family nucleus.
An emancipated student is considered an independent student if she can provide a court-issued determination in her state of residence that she was or is an emancipated minor. Emancipation is determined by the court, not an attorney.
For Financial Aid purposes, a student is considered a veteran if he was on active duty under the “U.S. Armed Forces ”(Army, Navy, Air Force, Marines, Coast Guard, National Guard, Reserve) and was relieved for reasons other than“ dishonorable ”. There is no minimum length of service required, but must have been classified as active duty.
To obtain a federal direct loan, you must have enrolled six credits or more (if you are an undergraduate student) or three credits (if you are a graduate student) and complete the FAFSA application at www.studentaid.gov. Then, you will need to fill out the Income Counseling and Master Note (MPN) on the same website. NUC University will receive the answer to your FAFSA application, as well as notification of the Master Promissory Note and Income Assessment. You will receive an offer of financial aid that will indicate the maximum amount in loans for which you are eligible.
As of July 1, 2013, the Federal Department of Education limited the maximum amount of subsidized loans that an undergraduate student can receive to 150% of the duration of the program in which they are enrolled. A student enrolled in a two-year program will have subsidized loan eligibility for three years, while a student enrolled in a four-year program will have six-year eligibility. This rule applies only to students applying for a federal loan for the first time.
Includes a student who does not have a federal loan principal balance as of July 1, 2013 or the date the student obtains a federal loan after July 1, 2013. A student who previously obtained federal loans, but repaid the debt in full As of July 1, 2013, you are considered a new student borrower and the 150% rule will apply.