FINANCIAL AID POLICIES & PROCEDURES
Financial aid policies and procedures are established to insure equitable treatment for all students qualified to receive assistance. Because of individual circumstances, a particular student may feel an exception to policies and procedures is warranted. If that is the case, discuss your situation with the financial aid administrator. In most cases, the administrator will be able to resolve your questions. If you would like to make a change in your financial aid, or you would like to provide us with new information, the administrator will explain what type of revision, if any, is possible.
A copy of the NewLife Technical Institute Financial Aid Policies and Procedures is available here.
Consumer Information
Internet Access for Students
Financial Asistance Information
Scholarship Awards
Institutional Grant Awards
Federal Financial Awards
Great Lakes Higher Education Corporation
Workforce Investment Act (WIA) Funding
Satisfactory Academic Progress Policy
Withdrawals
Return of Title IV Funds due to Student Withdrawal
Verification
Crime Statistics Reporting
Graduation & Completion Rates
CONSUMER INFORMATION
- All students who wish to receive Scholarships, Institutional Grants and need-based, Federal Financial Aid must submit the Free Application for Federal Financial Aid (FAFSA) each year. Student’s financial aid is not renewed automatically. Forms are available January 1, each year. This applies to most financial aid sources. The exception would be students who are receiving scholarships or non need-based grants only from NewLife Technical Institute sources, and who do not wish to be considered for any other aid, such as grants or loans. If in doubt, file the FAFSA.
- Students should file their FAFSA as early as possible; ideally it should be completed to ensure that students will receive the need analysis results by March 1st. NewLife Technical Institute will process financial aid for those who apply later, but it is probable that the aid awards will be less than they might have been if the student had filed their FAFSA before March 1st.
- Financial Aid will not be disbursed to a student's account until NewLife Technical Institute has received all necessary documentation.
- Institutional grants, also known as institutional financial aid awards, are "tuition-only" awards. These awards may not exceed the cost of tuition minus any other "tuition-only" awards.
- If a student withdraws from NewLife Technical Institute, their Institutional financial aid will be cancelled indefinitely.
- The term "Institutional financial aid" refers to any scholarship or grant awarded by NewLife Technical Institute from its own restricted or unrestricted funding sources.
- Financial aid for a given term will be disbursed if all the conditions governing each aid source have been me). These criteria include:
- Submission of any other documentation required in order to finalize student’s aid offer to the NewLife Technical Institute Financial Aid Administrator
- Full-time course registration, and
- Maintenance of Satisfactory Academic Progress as outlined in the NewLife Technical Institute Satisfactory Academic Progress Policy
Consumer information will be distributed according to the Volume 2, chapter 7 of the Student Financial Aid Handbook available for review in the Financial Aid Office.
Internet Access for Students
The U.S. Department of Education has developed a web site giving students Internet access to information about ANY Title IV aid he or she has received. This site is part of the national Student Loan Data System (NSLDS) and may be found at http://www.nslds.ed.gov/. To access the site, students must have a personal identification number (PIN).
Financial Assistance Information
The following financial assistance programs may be available to students who enroll at NewLife Technical Institute
- Scholarship Awards
- Institutional Grants
- WIA (Work Force Investment Act)
- Federal Student Aid
- Pell grants
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Stafford Loans
- Consolidation Loans
- Federal Family Education Loan (FFEL)
- FFEL Plus Loans
- Private Loans
Scholarship Awards
Scholarship Awards are periodically made available to the high schools in the tri-state area surrounding East Liverpool, Ohio. There are no available scholarships at this time.
In cases where scholarships are available, the following criteria applies:
- Name of Scholarship Award: (NewLife Technical Institute / Name of Institution donating funds)
- Number of Awards Available during each session/term: Dependent on amount of funds available in the scholarship fund
- Value of Scholarship: Variable amounts given in the form of a tuition credit to NewLife Technical Institute
- Eligibility Requirements: The recipient must pass the applicable admissions requirements to attend the NewLife Technical Institute program.
- Scholarship Application and Deadlines. Must apply by April 30, of the senior year.
- Renewal Policy: Scholarship cannot be renewed. However, the student may apply for institutional grants.
- Source of Scholarship: funded by outside entity
- One or more scholarships may be designated per high school. Students should contact their high school counselors for application forms. Recipients will be selected by High School Counselors or a designated scholarship committee.
Institutional Grant Award
- Grant Award Name: (Name of institution donating funds) / NewLife Technical Institute Technology Award
- Number of Awards Available during each term: Will vary according to funds available and number of people in the program.
- Value of Grant: Will vary according to funds available and number of people in the program and will be awarded in the form of Tuition Credit.
- Eligibility Requirements: Student must completes previous term with a B (3.0) or higher. The Institutional Grant will be awarded to all who qualify and complete the application form.
- Renewal Policy: Grant may be renewed for up to 1 subsequent term. Eligibility requirements remain the same. NewLife Technical Institute students should contact the Director of Operations for application forms.
- Source of Grant: funded by outside entity
Federal Financial Awards
The Financial Aid Office will send written notification of awards to each student applying for Federal Student Aid with-in 20 business days from the Institutes receipt of the Institutional Student Information Report (ISIR), unless the student has been selected for verification (See Verification), The Financial Aid award for students enrolled in programs with less than 900 clock hours, Financial Aid award will be prorated according to the formula below.
Total Number of Clock Hours / 900
Example: 840 = 93.33%
900
Clock Hours are defined as 60 consecutive minutes of which at least 50 minutes are instruction and up to 10 minutes are for a break.
For more information about Federal Loans please click here to go to Great Lakes Higher Education Corporation. To apply for a FFEL AND FFEL PLUS LOANS please click here.
Workforce Investment Act (WIA) Tuition
NewLife Technical Institute is an eligible training provider for Workforce Investment Act funding. Funding may be available for those interested in getting additional training to increase their marketable skills. Students may be eligible for funding through the Workforce Investment Act (WIA) if they are unemployed, under a certain income level or if they have lost their job. For more information students should contact the One-Stop in their respective county.
Columbiana County
One-Stop
7860 Lincoln Place
Lisbon, OH 44432
Ph: 330-420-WORK or 330-420-9675
Hours: M-F: 8:00 a.m. - 5:00 p.m., 1st & 3rd Thursday of the month open late until 6:30 p.m.
For more information on the Workforce Investment Act in Ohio, please visit OneStopOhio.org
Satisfactory Academic Progress Policy
Section 668.34 of the Higher Education Act states that a student must make satisfactory academic progress (SAP) to receive Title IV financial aid. Title IV aid includes Federal Pell Grant, Federal Supplemental Education Opportunity Grant, and Federal Stafford Student Loans.
The student's official academic record, maintained by the Director of Operations, is reviewed at the end of 280 clock hours and 540 clock hours to determine compliance with this policy. Students that are not meeting requirements are placed on Academic Probation for 6 weeks. If the standards have not been met at the end of the probationary period, or any term thereafter, financial aid eligibility is denied. Students that are denied aid eligibility may appeal to the Financial Aid Office for an exception to this policy.
SAP is comprised of two components; quantitative and qualitative. Students must meet both the quantitative and qualitative components of the policy to be considered making Satisfactory Academic Progress.
Qualitative Component
Students must maintain a cumulative C (2.0) grade point average or better to meet the minimum qualitative component of the Satisfactory Academic Progress Policy. If a student falls below the required minimum grade point average, he/she will be placed on academic probation. (See Academic Probation)
Quantitative Component
- Required Completion Percentage
A student is required to progress toward the completion of an academic program by successfully completing 90% of all hours scheduled each term. If a student does not complete at least 90% of all hours scheduled he/she will be placed on academic probation. (See Academic Probation)
- Maximum Time Frame
NewLife Technical Institute’s courses run consecutively. Students must be on track to complete his/her educational program within 110% of the published length of the educational program.
Academic Probation
Students of NewLife Technical Institute may be placed on Academic Probation for failing to meet the Qualitative and/or Quantitative components of Satisfactory Academic Performance (SAP) as state above. A student who is on probation will receive a written probation letter stating reasons for the probation. The letter will clearly state the steps a student will need to take to re-establish SAP. Students on SAP probation have six weeks to improve their SAP. Failure to achieve SAP at the end of six weeks will lead to Financial Aid Suspension (see Evaluation) and possible termination from NewLife.
Evaluation of Academic Probation
Financial Aid Satisfactory Academic Progress (SAP) will be evaluated at 280 clock hours and 540 clock hours.
If a student fails to meet any condition of the Financial Aid SAP they will be placed on Academic Probation. While on probation, the student will continue to be eligible for Financial Aid programs. The student will then have six (6) weeks to meet all conditions of Satisfactory Academic Progress. If a student fails to attain Satisfactory Academic Progress at the end of the probationary period, they will be placed on Financial Aid Suspension. While on suspension you are not eligible for Financial Aid programs. The student will be responsible for any tuition and expenses occurred during suspension from Financial Aid. A student can regain his/her Financial Aid by going through the Financial Aid Appeal Process. (See Academic Progress Appeal for Financial Aid)
NewLife Technical Institute does not offer the grade of Incomplete for their courses. If work is not completed in a course, a student’s grade is reduced according to each class’s syllabus. Incomplete work in a course can have a negative impact on a students Student’s Academic Progress, which may affect the student’s eligibility for Federal Financial Aid
Academic Progress Appeal for Financial Aid
Students may appeal Financial Aid Suspension if they do not meet the requirements required by the Qualitative and/or the Quantitative components. A student has 7 days to Appeal from the date of notice that they are under Financial Aid Academic Suspension.
Student appeals should be submitted using the Satisfactory Academic Progress Appeal form, which is available at the Financial Aid Office or on the website. The appeal should contain an explanation of the student’s poor academic performance. This will give the student an opportunity to report any extenuating circumstances that may have affected their ability to succeed. Students should address each class that their performance was below minimum requirements. Students may attach documents they feel might help their case at the time of appeal. Students appeal should also contain an explanation of steps they have taken to ensure that their academic progress will be acceptable if their appeal is approved. The Appeal form should be submitted to the Financial Aid Office.
If a student’s appeal is approved, they will be placed on financial aid probation. Students may receive federal grant funds for the term during which the appeal was approved, if otherwise eligible.
If a student’s appeal is not approved they must complete the equivalent of one full term before resubmitting another appeal.
Students will be notified in writing regarding the Financial Aid Administrator’s decision within 5 days after the receipt of the appeal.
The NewLife Satisfactory Progress Appeal Form can be accessed here.
Withdrawals
Official Withdrawal
If a student wishes to withdraw from NewLife Technical Institute they should fill out a Withdrawal Form, available from the Financial Aid Office, the Director’s Office or from NewLife Technical Institutes website. Students need to complete the form, get required signatures and return the form to the Director of Operations. In some circumstance a phone withdrawal is sufficient. The student is considered officially withdrawn the date the Director receives the form and/or phone call.
The NewLife Withdrawal Form is available here.
Unofficial Withdrawal
A student will be considered unofficially withdrawn when they acquire 3 consecutive unexcused absences without the Director’s approval. The unofficial withdrawal date is the last day of attendance which is determined by daily attendance records.
The Financial Aid Office will notify the Business Office of withdrawals and the student’s liability will be determined according to Federal regulations.
The student's grace period for loan repayments for Federal Unsubsidized and Subsidized Stafford Loans will begin on the day of the withdrawal from the NewLife Technical Institute. The student should contact the lender if they have questions regarding their grace period or repayment status.
Return of Title IV Funds due to Student Withdrawal
For current financial aid recipients, a tuition percentage will be determined based on the return of Title IV funds regulations. The Financial Aid Administrator determines the return of Title IV funds percentage and informs the Business Office. The NewLife Technical Institute Business Office will determine the percentage of Title IV aid “earned” by the student and the unearned portion will be returned to the appropriate aid program within 45 days. This percentage is determined by the percentage of the enrollment period completed by the student.
If the contracted charges are adjusted downward by the Financial Aid Administrator after the withdrawal was finalized, any credit balance will be refunded to the funding source in following order:
1. Federal FFEL Unsubsidized Stafford Loan
2. Federal FFEL (Subsidized) Stafford Loan
3. Federal Perkins Loan
4. Federal FFEL PLUS (Parent) Loan
5. Federal Pell Grant
6. Federal SEOG
Verification
The Financial Aid Office is required by the U.S. Department of Education to verify files for applicants selected for verification by the Processor. In addition, the Financial Aid Office reserves the right to request verification of additional applicants with questionable or conflicting information.
If selected for verification, the Financial Aid Office will send written notification and a Verification Worksheet within 10-14 days from receipt of the Student Award Record. Students must submit all requested documentation within 10 days from the date postmarked on the verification notification letter. Each person who entered financial information on the FAFSA must submit signed copies of their recent income tax return and W-2 wage and tax statements. A copy of the Verification Worksheet is available on the NewLife Technical Institute website.
No federal financial aid will be awarded until verification is completed, discrepancies are resolved, and the necessary corrections are submitted and processed by the US Department of Education.
Guidelines for students completing the verification process:
- Collect all applicable financial documents, federal income tax forms (signed), W-2 forms etc.
- Carefully observe verification deadlines.
- Complete all sections of the Verification Worksheet.
- Sign the Verification Worksheet.
- Keep copies of all documents submitted during the verification process.
- Do not send anything except the FAFSA to the Federal processor.
Save valuable time, direct any questions to the Financial Aid Administrator.
- The Financial Office will review your verification information and make necessary changes. These changes may include (but are not limited to): adjusted gross income, income taxes paid, untaxed income, household size or the number of family members enrolled in college.
- Once the entire process is completed, the Financial Aid Office will issue you an Award Letter which details your eligibility for federal and institutional aid.
Crime Statistics Reporting
Consistent with federal law, NewLife Technical Institute publishes an annual security report on or before October 1 of each year. The report includes statistics for the previous three years concerning reported crimes that occurred on campus; in any off-campus buildings owned or controlled by NewLife; and on public property within or immediately adjacent to and accessible from the campus.
The NewLife Technical Institute Crime Statistics are available here.
Graduation and Completion Rates
In compliance with the federal Student Right-to-Know and Campus Security Act of 1990 (Public Law 101-542), NewLife Technical Institute is reporting the Graduation and Completion Rates for students that have entered the school for the period of 2004 through 2006.
Number Percentage
Students Enrolled: 37
Students Completed 30 81%
Students Graduated 30 81%