Financial Aid
Policies
|
Federal
School Code (FAFSA): G24824
School
Code for Loans : 024824
|
|
|
General
Policies
|
- Awards will
be made to those applicants that meet the Satisfactory
Academic Progress policy of the School.
- Students
requesting consideration for institutional, state and or
any other scholarship program must provide confidential
parents’ economic information on their FAFSA
(initial or renewal application), as well as, the PSM
application. Documentation to collaborate the parents’
information must be presented.
- Cancellation
of any loan may result if the student fails to sign either
the Master Promissory Note (MPN), Disclosure Statement and
or any other document required by the lending institution.
- Cancellation
of an award may result if the student or parents
misrepresent and or provide false or incorrect information
on any document. Since PSM uses the FAFSA for establishing
the student’s aid eligibility, and allocates funds
received from the U.S. Federal Government, any
misrepresentation may be subject to sanctions under
provisions of the United States Criminal Code.
- The student
provides authorization for funds to be accredited to the
student’s account.
- Tuition
refund will be made according to the PSM Refund Policy for
U.S. Dept. of Education Title IV and or Non-Title IV
funds.
- Students
must report any information that modifies their financial
data, such as change in personal and or family income,
martial status, etc. If this update results in a
change of eligibility and award, the Staff of OSFA shall
communicate the same to the student.
|
Privacy
of Information
|
All
activities and or documents submitted on behalf of an
applicant for financial aid are strictly confidential. Without
the written consent of the applicant, no information is
released to anyone according to the FERPA regulations adhered
to at PSM. If parents request non-disclosure, a student does
not have accessibility to the documents submitted by the
parents. PSM does have the right to disclose information
relevant to the determination of the financial aid for which a
student has applied or received, and or the conditions set
forth by the specific financial aid program.
|
Leave
of Absence
|
One
approved Leave of Absence (LOA) will be considered within any
twelve-month period commencing with the first day of the
leave. The student having an approved leave of absence is
eligible for an “In-School Deferment” to allow delayed
payment of educational loans. A student who takes an
unapproved leave of absence is not given an “In-School
Deferment”. The student not returning on the specified
termination date of the leave of absence will have lost the
“In-School Deferment” status and the “Six Months Grace
Period” would have begun retroactively from the first day of
the leave of absence.
|
Suspension of
Eligibility for Drug-Related Offenses
|
If
convicted of any offense involving the possession of a
controlled substance, a student’s eligibility for Title IV
Financial Student Aid Program will be denied for:
- One year
after the first conviction
- Two years
after the second conviction
- Indefinitely
after the third conviction
|
If convicted
of any offense involving the sale of a controlled substance,
a student’s eligibility for Title IV Financial Student Aid
Program will denied for:
- Two years
following the first conviction
- Indefinitely
after the second conviction
|
Eligibility may
be restored if the student partakes of an approved Federal Government
Rehabilitation Program.
|
Appeal
Procedure
|
Students
whom are denied financial aid may appeal the decision as
follows:
- Submission
of a written request for an interview with the Director of
OSFA to review the awarding process.
- If not
satisfied with the explanation, the student is referred to
the Dean of Student Affairs for review of appeal, outcome
and or any additional referral.
|
Refund
Policy
|
| Please
refer to the PSM REFUND POLICY section. |
Top |
