Code Of Conduct

The Higher Education Opportunity Act (HEOA) requires institutions of higher education participating in the administration of educational loan programs to develop and publish a Code of Conduct. As members the National Association of Student Financial Aid Administrators (NASFAA), the Roseman University Financial Aid staff has reviewed and adopted NASFAA’s Statement of Ethical Principles and Code of Conduct.

Title IV Verification Policy

If a student’s Free Application for Federal Student Aid (FAFSA) is selected for review in a process called verification, the school is required to collect certain documents and adhere to deadlines for processing the application.

Once the student has submitted the required documentation to the financial aid office, the financial aid staff will make the appropriate corrections to the application information and submit it to the central processing system (CPS). If, as a result of verification, the applicant’s Title IV eligibility changes, the financial aid office will notify the student via a new award letter.

Roseman University requires the following items from an
applicant selected for verification:

Dependent applicants:

  • Verification Worksheet
  • IRS tax return transcript or successful import and submission of unchanged data via the IRS Data Retrieval Tool on the FAFSA website for student’s and parent’s(if filed)
  • W-2 forms (if taxes were not filed or if separation of income is necessary)

Independent applicants:

  • Verification Worksheet
  • IRS tax return transcript or successful import and submission of unchanged data via the IRS Data Retrieval Tool on the FAFSA website for student and spouse (if filed)
  • W-2 forms (if taxes were not filed or if separation of income is necessary)

The deadline for submitting verification documents is 21 days after receiving notification from the financial aid office of the required documents, or 21 days after the last day of the award year. If an applicant fails to submit the required documents by the deadline, no Title IV awards can be made to the student and any Title IV funds disbursed in the award year are immediately refunded.

Satisfactory Academic Progress And Financial Aid Eligibility

Withdrawal And Return Of Title IV Policy

Federal Student Aid funds are awarded on the assumption that a student will attend school for the entire period for which the assistance is awarded. Any student receiving Title IV funds (Pell Grant, SEOG, or Direct Loans) who withdraws from the program must have a return of Title IV funds (R2T4) calculation performed. The R2T4 calculation will determine the amount of Title IV funds earned by the student during the payment period.

Title IV funds disbursed in excess of the earned amount must be returned by the University or student to the federal government. This situation could result in the student owing aid funds to the University, the government, or both.

To determine the amount of aid the student has earned up to the time of withdrawal, the financial aid staff will divide the number of calendar days from the beginning of the payment period to the withdrawal date, by the total number of calendar days in the payment period (less any scheduled breaks of five days or more).

If the resulting percentage is less than 60.0%, the resulting percentage is then multiplied by the total federal funds which were disbursed during the payment period. That amount is the amount of earned funds (e.g., if the percentage is 45%, the student will have earned 45% of the aid disbursed). If the resulting percentage is equal to or greater than 60.0%, financial aid earned is 100% and no refund of federal funds is requirement from the University or the student.

Any unearned funds must be refunded to the appropriate program. Unearned funds will be returned in the following order:

  1. Direct Unsubsidized Loan
  2. Direct Subsidized Loan
  3. Direct PLUS/Grad PLUS Loan
  4. Federal Pell Grant
  5. Federal SEOG

If a student has earned more Title IV funds than have been disbursed, the University must offer, as a post-withdrawal disbursement, the amount of earned funds. Grant funds will be applied directly to a student’s account if there are unpaid institutional charges such as tuition, or fees. A student must authorize the University, in writing, if they wish to have loan funds disbursed as a post-withdrawal disbursement.

A student’s withdrawal date is the earlier of:

  1. The date the student begins the withdrawal process prescribed by the University;
  2. The date that the student otherwise provides official notification to the academic program of the intent to withdraw; or
  3. If the student did not begin the withdrawal process or otherwise notify the academic program of the intent to withdraw, the student may be administratively withdrawn based on the programs prescribed absence policy, as noted in the student handbook for the student’s program.