Student Loan Code of Conduct
National College recognizes that ensuring the integrity of the student financial aid process is critical to providing fair and affordable access. The College has formalized the following guiding principles designed to avoid potential for a conflict of interest between the College, and its students or their parents, in the student financial aid process. For purposes of this Code of Conduct, a "lender" is any entity (other than an institution of higher education or a governmental entity such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans. The "financial aid office" refers to all financial aid offices of National College.
The College may not enter into revenue-sharing arrangements with any lender.
National College may not enter into any revenue-sharing arrangements with any lender. The term revenue-sharing arrangement means an arrangement between National College and a lender under which the lender provides or issues private education loans to students attending the College or to the families of such students; and the College recommends the lender or the loan products of the lender in exchange for which the lender pays a fee or provides other material benefits, including revenue or profit sharing, to the College or any employee of the College.
Employees of the financial aid office may not receive gifts from a lender, guarantor, or a loan servicer.
Employees of the financial aid office or who otherwise have responsibilities with respect to private education loans may not solicit or accept any gift from a lender, guarantor, or servicer of private education loans. The term gift means any gratuity, favor, discount, entertainment, hospitality, loan, or other item having monetary value of more than a de minimus amount. The term includes a gift of services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance, or reimbursement after the expense has been incurred. A gift to a family member of an employee, or to any other individual based on that individual's relationship with the employee, is considered a gift to the employee if the gift is given with the knowledge and acquiescence of the employee and the employee has reason to believe the gift was given because of the official position of the employee.
Employees of the financial aid office may not enter into consulting or other contracting arrangements with a lender relating to private education loans.
Employees of the financial aid office or who otherwise have responsibilities with respect to private education loans must not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to private education loans.
National College may not direct borrowers to particular lenders or delay loan certifications.
National College may not direct a borrower or assign, through award packaging or other methods, the borrower's loan to a particular lender or refuse to certify, or delay certification of, any loan based on the borrower's selection of a particular lender or guaranty agency.
National College may not request or accept offers of funds for private loans.
National College may not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to students in exchange for the College providing concessions or promises regarding providing the lender with a specified number of private education loans, a specified loan volume of such loans, or a preferred lender arrangement for such loans. The term opportunity pool loan means a private education loan made by a lender to a student attending National College or the family member of such a student that involves a payment, directly or indirectly, by the College of points, premiums, additional interest, or financial support to such lender for the purpose of such lender extending credit to the student or the family.
National College may not request or accept certain staffing assistance from a lender.
National College may not request or accept from any lender any assistance with call center staffing or financial aid office staffing, with the exception of: assistance from a lender related to professional development training for financial aid administrators; the provision of education counseling materials, financial literacy materials, or debt management materials to borrowers, provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials; or staffing services on a short-term, nonrecurring basis to assist the institution with financial aid-related functions during emergencies.
Employees of the financial aid office may not be compensated for service on an advisory board for a lender, guarantor or group of lenders.
No employee who is employed in the financial aid office or who otherwise has responsibilities with respect to private education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, may receive anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.
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National College Opportunity Grant
The Opportunity Grant is awarded and funded by National College. It is designed to match outside grant and scholarship funds provided by defined social, local, and civic organizations. An Opportunity Grant Calculation Form will be completed by the Student Services staff for eligible students.
A Public-Private Partnership - Workforce Development Grant
This program, exclusive to National College, provides matching funds to many federal, state, and local workforce development and worker retraining programs. Over the past decade, National has provided more than $3.5 million in matching funds to over 1,300 students. Up to $7,500 per year may be awarded through this grant to supplement programs such as the Workforce Investment Act, Trade Adjustment Act, Vocational Rehabilitation, and similar programs.
Distinction in General Studies Grant
The Distinction in General Studies Grant is designed to recognize high student achievement in the area of General Education coursework.
Eligibility: Ohio students enrolled in an associate degree program will take an assessment to measure their General Education knowledge in their last term before graduation. Students that achieve a high score on this assessment will be awarded this grant in the amount of $100.
Helping Companies Invest in their Employees - Business Partnership Grant
Another program unique to National College, the Business Partnership Grant, supplements employer-provided tuition assistance to qualified students. National College will match up to $1 for every $2 that your employer provides in tuition reimbursement funds, limited to the amount of unpaid tuition costs. The college allocates up to $2 million per academic year for this grant.
National College offers an institutional work-study program which provides employment opportunities for students to help finance their educations. Whenever possible, work study employment is designed to improve students' business skills and to provide experience for the business specialization in which they are enrolled.
Tuition Payment Plan
Any student who enrolls in the payment plan will have the option to make three payments each term. The first will be made on or before the first day of class, the second will be made on or before the 1st of the next month, and the final will be made on or before the 1st of the 3rd month.
Click here for 2016-17 Financial Aid Information from the Department of Education.
»Also see our our Financial Aid 101 Video
Federal Pell Grant
This program was established for undergraduate students who have not completed a first baccalaureate degree. Eligibility is determined according to a formula established by the federal government. Eligible students who attend less than full-time may also be eligible to receive a reduced award.
Federal Supplemental Educational Opportunity Grant (SEOG)
The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. Just like Pell Grants, the FSEOG does not have to be repaid. For more information, visit the Federal Supplemental Educational Opportunity Grant website.
Federal Work Study Program
This program provides part-time employment for students with financial need. Jobs may be provided on or off campus, with work schedules determined by the employer. Work schedules may not conflict with students' class schedules. Employment under this program is dependent on the availability of federal funds.
Direct Subsided & Unsubsidized Loans
These loans are made available to students attending college on at least a half-time basis through the William D. Ford Federal Direct Loan Program. Within these programs there are two types of loans: subsidized loans (those subsidized by the federal government) and unsubsidized loans. A student may qualify for one or both, depending upon eligibility. Repayment is made in installments, generally beginning six months after a student leaves school or from the point his or her enrollment status falls below half time. The federal government pays interest on the subsidized loan until repayment begins and during authorized periods of deferment. Students with unsubsidized loans are charged interest from the time the loan is disbursed until it is paid back in full.
Direct PLUS Loans
PLUS Loans are available to the parents of dependent students and to students pursuing graduate degrees. This loan program is available for students attending college on at least a half-time basis through the William D. Ford Federal Direct Loan Program. This is an unsubsidized loan program. Repayment is made in installments beginning upon the final disbursement within the first loan period. Interest is charged from the time of disbursement until the loan is paid in full.
Federal Perkins Loans
This program was established to provide a low interest loan for undergraduate and graduate students with financial need, whether full-time or part-time. Interest begins to accrue when repayment begins, nine months after a student leaves school.
The Iraq and Afghanistan Service Grant
This program was established for non-Pell eligible children of military personnel killed as a result of service in Iraq or Afghanistan after Sept. 11, 2001. To qualify, the student must have been less than 24 years of age or enrolled at least part-time at an institution of higher education at the time of the death of their parent or guardian. Payments are adjusted for students enrolled on a less than full-time basis.
Additional information regarding the federal aid programs is available in the college Catalog or in the Financial Planning Office at each campus location.