Financial Policies

 




Payment Policies

After registration and payment of the registration fee, students must pay 50% of the quarterly tuition and fees prior to the beginning of the term. The remaining 50% of the quarterly tuition and fees must be paid during the grace period ending on Wednesday of the 2nd week of the quarter (last day to Add and Drop). Late payment of the remaining 50% of quarterly tuition and fees is subject to a penalty.

These payment policies will not be applicable to students who receive funds through federal and state student financial aid grant and loans programs, or through any other federal or state programs.

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Financial Aid

FINANCIAL AID is to assist students in paying for educational costs through a variety of aid programs funded by federal and university sources.  Financial aid is in the form of scholarships, Pell Grants, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work Study (FWS) and Federal Direct Loans.

SCHOLARSHIPS are awarded on the basis of academic excellence and talent. Scholarships do not have to be repaid.

PELL GRANT is federally funded program and does not have to be repaid.  It is available to undergraduate students who demonstrate financial need.

Federal Supplemental Educational Opportunity Grant (FSEOG) is federally funded program and does not have to be repaid.  This program is for Pell Grant recipients and is based on financial need and the availability of funding.

Federal Work Study (FWS) is federally and institutionally funded.  FWS is designed to provide students with financial support to pay the costs of education at the University.  Students are compensated via regularly scheduled paychecks.  The Financial Aid Office coordinates all on and off campus student employment under the Federal Work Study program.  Applications are accepted on an ongoing basis.

FEDERAL DIRECT LOANS are borrowed money that must be repaid, with interest. Student loans do not require repayment until the student is no longer enrolled in school at least half-time. Subsidized Loans are awarded based on demonstrated financial need.  The federal government pays the interest while the student is in school and during grace period and deferment period. Unsubsidized Loans are for all eligible students.  The student is responsible for paying all the interest on the loan and can allow it to accumulate while in school and during the grace and deferment period.

The student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund, and if federal student financial aid funds have been received, the student is entitled to a refund of the monies not paid from federal student financial aid program funds

STUDENT ELIGIBILITY FOR FINANCIAL AID

To receive aid from the programs discussed in this catalog, the applicants must have:

  • Demonstrate financial need
  • Be a US Citizen or Permanent resident
  • Have a valid Social Security Number
  • Maintain satisfactory academic progress
  • Be enrolled as a regular student
  • Not be in default on any educational loan or owe a refund on a federal grant made under Title IV Program
  • Register with the Selective Service which is applicable to male student only
  • Have a high school diploma or a General Education Development (GED) certificate, or pass an independently administered test approved by the US Department of Education, or meet other standards the Commonwealth of Virginia establishes that are approved by the Department.



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Deferment of Tuition

The University may grant tuition deferments for students who fall into one of the following categories:

  1. Recipients of Financial Aid
  2. VA benefits directly payable to the University
  3. State rehabilitation benefits directly payable to the University

In the event that consumer loans become available for students, the University shall comply with the requirements of the Federal Truth in Lending Act pursuant to Title 15 of the United States Code.

Student consumer information can be accessed at
http://www.southbaylo.edu/fsa/consumer_information.htm.

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Tuition Refund Policy


A student pays tuition and registration fees quarterly. The student may cancel an enrollment agreement at any time on or before the first day of instruction each quarter without any penalty. The student will be refunded the full tuition except for paid non-refundable fees.

A student who discontinues studies prior to the end of a term for which he or she is enrolled will receive a refund in accordance with the following schedule:

  1. If a student withdraws a course or courses on or before the first day of classes, or fail to begin classes, the refund shall equal the sum of all amounts paid by or on behalf of the student for the period of enrollment, except for paid fees.
  2. If after classes have commenced and before expiration of Add and Drop Period of the period of enrollment for which he or she was charged, a student withdraws, drops out, is expelled, or otherwise fail to attend classes, the refund shall equal the sum of all amounts paid by or on behalf of the student for the period of enrollment, except for paid non-refundable fees.
  3. If after the expiration of the Add and Drop Period and before the expiration of 25% of the period of enrollment for which he or she was charged, a student withdraws, drops out, is expelled, or otherwise fail to attend classes, the refund shall equal 50% of all amounts paid or to be paid by or on behalf of the student for the period, less a registration fee of $55 and an application fee of $100, if applicable.
  4. If after expiration of 25% of the period of enrollment for which he or she was charged, and before expiration of 50% of the period of enrollment for which he or she was charged, a student withdraws, drops out, is expelled, or otherwise fails to attend classes, the refund shall equal 25% of all amounts paid or to be paid by or on behalf of the student for the period, less a registration fee of $55 and an application fee of $100, if applicable.
  5. If after expiration of 50% of the period of enrollment for which he or she was charged, a student withdraws, drops out, is expelled, or otherwise fails to attend classes, the student will not be entitled to a refund.

Students must submit their request to cancel the enrollment agreement to the Registrar. No refund will be issued unless the student’s account has credit balance. Refunds will be processed within ten (10) working days from receipt of the student’s request to the Registrar.

 


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Scholarship

Money received from scholarship sources does not have to be repaid. At SBUVA there are scholarships available for entering students and limited scholarship sources available to students who are matriculated. To be considered for available scholarships, complete scholarship request form (along with all supporting documentation) must be received in the fiscal officer by the appropriate deadline date.

 

ACADEMIC EXCELLENCE SCHOLARSHIP AWARD

  • SBU awards  a scholarship to one (1) student in each language program of each campus per quarter.
  • The scholarships are awarded based on the following:
    1. Completed at least two (2) quarters of full-time study at the University
    2. Earned a Cumulative Quarter Grade Point Average (CGPA) of 3.75 or higher.
    3. Involved in activities and/or services to fellow students, the University, and the AOM profession.
    4. Demonstrated a genuine need for financial assistance.
  • Prospective recipients are encouraged to submit an application to the appropriate Program Director by the final week of the academic quarter.
  • The Scholarship Award Committee reviews and evaluates the applications.
  • The Student Services Advisor will notify the student of the award by the first week of the following academic quarter.
  • The Branch Director presents the scholarships to students during the quarterly Student Orientation for new students.
  • Qualified students may not receive more than three (3) scholarships during his/her tenure at the University.
  • The amount of this scholarship per student per quarter cannot be more than $500.

The Prospective recipients are encouraged to submit an application to the appropriate Program Director by the final week of the academic quarter. Then the Academic Office reviews and evaluates the applications. Afterwards the Student Service Advisor will notify the student of the award by the first week of the following academic quarter. The Branch Director presents the scholarships to students during the quarterly Student Orientation for new students.

 

CLINIC EXCELLENCE SCHOLARSHIP AWARD

  • SBUVA branch campus awards a scholarship to one (1) intern per quarter.
  • The scholarship is awarded based on the following:
    1. Completed all requirements for entering Observation Phase of the Clinic Internship as a full-time student at the University
    2. Earned a Cumulative Quarter Grade Point Average (CGPA) of 3.75 or higher
    3. Recommended by the Clinic Supervisors
    4. Dressed professionally and appropriately at all times
    5. Complied with Clinic Rules & Regulations, including prerequisites, CNT, HIPAA, & OSHA
    6. Actively recruited patients for the SBU Clinics
    7. Involved and collaborated in activities and/or services to fellow interns, the University, and the AOM profession
    8. Demonstrated a genuine need for financial assistance
  • Prospective recipients are encouraged to submit an application to the Clinic Director by the finals week of the academic quarter.
  • The Clinic Director will then notify the intern by the first week of the following academic quarter.
  • The Clinic Director will then presents the scholarships to the interns during the quarterly Student Orientation for the new students.
  • Qualified interns may not receive more than two (2) scholarships during the tenure at the University.
  • The amount of this scholarship per student per quarter cannot be more than $200.


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