The financial aid programs at St. Elizabeth College of Nursing are intended to assist those students who otherwise would be unable to finance their nursing education. More than 90% of students receive some form of financial aid through St. Elizabeth College of Nursing. The College believes the primary responsibility for financing education lies first with the student and his/her family. Financial aid is awarded on the basis of demonstrated financial need assessed by use of a standard financial aid application, currently the Free Application for Federal Student Aid (FAFSA).
TITLE IV REFUNDS POLICY
In accordance with the Higher Education Amendments of 1998, a portion of Title IV grant or loan funds must be returned to the Title IV Program upon a student's withdrawal from college. This may result in a student incurring a liability to St. Elizabeth College of Nursing after the Title IV funds are returned. Once the institution has determined an official withdrawal date, regulation provides a formula for the calculation of the amount of Title IV aid that the student has "earned" and the school may retain. This will depend on the percentage of the enrollment period that the student has completed up to withdrawal. This percentage is calculated by dividing the number of calendar days (not weeks) completed by the total number of calendar days in the period. Up through the 60% point of the enrollment period, the student is eligible for the actual percentage of aid the calculation provides. After the 60% point of the semester, 100% of the Title IV aid is considered "earned" by the student.