Important Financial Aid Dates
|October 1st||FAFSA available online for year from upcoming (eg 21-22 FAFSA available October 1, 2020)|
|April 30th||Recommended date to complete upcoming year Financial Aid file.|
|June 30th||Last day to file the upcoming year & summer semester FAFSA|
* Please Note: Financial Aid is credited to a students account after a student has begun courses that are equivalent to at least part time attendance. Refund checks are mailed 10-14 business days after financial aid is credited to your student account. For questions concerning your refund check, please contact Student Accounts at 775.831.1314 x7428.
Payment and Outstanding Balances
Payment of all tuition, fees, room, board, and any other directly billed charges are due on the first day of each semester.
Disbursement of Funds
Federal financial aid and SNU scholarship funds are disbursed in equal payments according to the number of semesters the student is enrolled. Federal regulations require at least two separate disbursements. For students enrolled for two semesters, one-half of the award amount is credited at the beginning of the fall semester and one-half at the beginning of the spring semester. For students attending the full academic year (fall, spring and summer), the student will receive three equal disbursements at the beginning of each semester.
Disbursements are scheduled for 7 days after the first day of class each semester (or when you have begun courses that are equivalent to at least part-time attendance). When your award shows only one semester of eligibility, disbursement will occur at the beginning of the semester and at the mid-point of the semester (refund checks usually are not realized until after the second disbursement).
Early Disbursements: A continuing student with financial difficulties may request an early disbursement of financial aid funds. The disbursement will be made the first Tuesday after the first day of the semester. Refund checks usually are not realized until 10 days after the funds have been disbursed. To apply for early disbursement, please submit a Request for Early Disbursement of Funds.
Undergraduate Students receiving Sierra Nevada University financial assistance (i.e., SNU Scholarships, SNU Grants, etc.) are required to be full-time students (12 credits per semester). Students who are less than full-time are eligible for reduced federal and state grants (i.e., Pell Grants, Direct Stafford Loans, etc.) and are generally not eligible for Sierra Nevada University aid.
Graduate Students must be enrolled at least half time (3 graduate level degree credits) each semester to maintain eligibility. Please be aware that if you fall from full time (6 credits) to part time status, your financial aid will be reduced.
Students who leave the institution and officially withdraw from all classes are considered to be withdrawn according to the date on the official withdrawal notification through the Registrar’s Office for the purpose of the Department of Education’s “RETURN OF UNEARNED TITLE IV FUNDS.”
Students who leave the institution without officially withdrawing from all classes are considered to be withdrawn according to the last date of attendance for purposes of the Department of Education’s “RETURN OF UNEARNED TITLE IV FUNDS.”
WITHDRAWALS due to SUSPENSION or DISMISSAL
Students who are suspended or dismissed due to violations of students conduct will not retain SNU Grant or SNU Scholarship monies. Therefore, SNU Grant/Scholarships will not be utilized in calculations to determine refunds.
Return of Unearned Title IV Funds
Federal regulations state that students may forfeit a portion of their federal student financial assistance if they fail to complete the program of study in which they were enrolled. The policy affects students who:
a) Received or were eligible to receive federal student financial assistance authorized under TITLE IV of the Higher Education Act (HEA); i.e., Federal Pell Grants, Federal SEOG awards or Stafford/PLUS loans awarded under the Federal Family Education Loan (FFEL) or Federal Direct Student Loan (FDSL) programs.
b) Who withdrew or were terminated from the institution during the first 60% of any payment period or period or enrollment.
Payment Periods are defined as a SEMESTER.
Eligible Title IV aid recipients who fail to complete over 60% of a payment period or period of enrollment are considered to have not earned all of the federal aid that may have previously been awarded for that payment period or period of enrollment. Accordingly, a required calculation is performed to determine the portion of the unearned federal student aid that must be returned to the U.S. Department of Education. This calculation is done before a tuition refund calculation is performed in accordance with the institution’s refund policy. In many cases, the Return of Unearned Title IV Funds calculation result in the student owing tuition and fees to the institution that would otherwise have been paid with federal student aid. This policy also may result in the student owing a refund of unearned federal aid to the Department of Education.
“Satisfactory Academic Progress” | Academic Probation & Suspension
In accordance with Title IV regulations, a student must maintain satisfactory academic progress in order to receive federal financial aid funds.
Undergraduate Students: Satisfactory academic progress is defined as earning a minimum of six credits per semester, maintaining a minimum grade point average of 2.0, and staying within a maximum time frame specified in the satisfactory progress policy. If a student fails to maintain Satisfactory Academic Progress, they will be placed on Academic Probation. A student will be given one semester to raise their GPA to 2.0 or above. If this requirement is not met, the student will be placed on Academic Suspension and no longer will be eligible for Federal or Sierra Nevada University financial aid.
Graduate Students: Satisfactory academic progress is defined as earning a minimum of three credits per semester, maintaining a minimum grade point average of 3.0, and staying within a maximum time frame specified in the satisfactory progress policy. If a student fails to maintain Satisfactory Academic Progress, they will be placed on Academic Probation. A student will be given one semester to raise their GPA to 3.0 or above. If this requirement is not met, the student will be placed on Academic Suspension and no longer will be eligible for Federal financial aid.
The Office of Financial Aid will notify a student if they are selected for Verification by mailing a tracking letter to their permanent address. Tracking letters will detail additional information needed in order to complete the Verification process.
Documents needed in order to fulfill Verification requirements:
- Federal Verification Worksheet
- Taxes must be linked to the FAFSA from the IRS website or Student and Parent (if student is dependent) should submit an official IRS Tax Transcript ordered from the IRS. To obtain an IRS tax return transcript, go to www.IRS.gov and click on the “Order a Return or Account Transcript” link, or call 1-800-908-9946. Make sure to request the “IRS tax return transcript” and not the “IRS tax account transcript.” Please also sign your name on the official tax transcript.”
Verification Deadlines: All required documentation must be submitted by the last day of school of the academic school year.
Consequences for not completing Verification: If a student fails to complete the Verification process all federal aid (i.e., Pell Grants, FSEOG Grants, Stafford Loans, etc.) initially awarded will be cancelled and not disbursed to the students account.