Jun 17, 2024  
Graduate Catalog-Handbook 2013-2014 
    
Graduate Catalog-Handbook 2013-2014 [ARCHIVED CATALOG]

Financial Information



Student Billing and Payment

MCCN reserves the right to make changes in costs for an upcoming semester by publishing the new rates for tuition, general fees, and room at least three months in advance of the effective date. Changes in other fees, charges or policies may be made by announcement one month in advance of the effective date.

A student’s Course and Fee Statement (including approved or pending financial aid awards) is available online (CARMELink) prior to the beginning of each semester (Student tab > Business Office and Account Information > Course and Fee Statement > click on “Generate my Course and Fee Statement” > click on “View my Course and Fee Statement).

Students receiving financial aid may deduct the amount of the aid from their semester tuition bill until monies are received if the financial aid has been approved. Students with unpaid balances by this date and with no approved payment plan will be considered to have withdrawn and enrollment may be cancelled.

Consideration is given to each student’s financial circumstances. The College recognizes that financial crises do occur, and during extraordinary situations can make special financial arrangements for payment of tuition and fees. Students with financial questions should contact the Director of Business Affairs to discuss special arrangements.

Tuition Due DatesPayment of tuition and fees is due 7 calendar days prior to the start of each semester unless a payment plan has been pre-approved by the Business Office. The Balance Due Date is depicted on the student’s Course and Fee Statement for each semester.

College Payment Plan

A payment plan, administered through the Business Office, is available for any student. The payment plan allows the student or responsible party the convenience of distributing the tuition and fee expenses over a number of months. Tuition and fees for one semester or the entire academic year can be included in a payment plan. Pending financial aid is taken into consideration when calculating monthly payments.

Contact the Director of Business Affairs (614-234-2230) to schedule an appointment for questions about the College payment plan.

Payment Methods

Three payment methods are available:

  1. Check or money order payable to Mount Carmel College of Nursing (include on the check or money order the student’s name and student ID number). Mailing address:

Mount Carmel College of Nursing
Business Office
127 S. Davis Ave.
Columbus, OH 43222-1504

  1. Payment can be made in person at the MCCN Business Office, first floor of the Center for Learning and Education (Rm 104). Hours are 8:00 a.m. 4:00 p.m., Monday through Friday, excluding holidays. The office will accept check, money order, or cash payments. Credit card payments are accepted online only.
  2. Payment can be made by credit card, debit card or electronic check online through the student’s CARMELink account (Student tab > Business Office and Account Information > Pay Using CashNet > click on the “Go to CashNet” link). CashNet accepts American Express, Discover Card, and MasterCard; a merchant processing fee of 2.75% is assessed on every credit card payment. There is no processing fee for electronic check (ACH) payments.

Any student with an account balance due as of the first day of the semester will be placed on Business Office “hold” unless satisfactory payment arrangements have been made previously with the Business Office. Any student with a Business Office “hold” cannot register for classes or view final course grades via CARMELink. The “hold” is not removed until satisfactory arrangements are made with the Business Office. This may result in the student being closed out of a specific course or section.

Satisfactory payment arrangements are defined as:

  1. Payment for balance received in full;
  2. Payment plan agreement signed and monthly payments received as agreed; or
  3. Financial aid approved by the Financial Aid Office but still pending.

Students who have additional questions or who would like to schedule an appointment should contact the Director of Business Affairs (614-234-2230, CLE 105,ksmith@mccn.edu).

Late Fees

At the time a student registers for classes the student agrees to assume financial responsibility for any charges and/or fees as posted to his/her student account. This financial obligation is legally binding whether the student accesses the electronic billing information on CARMELink or the account is being paid by the student or by another person.

A $150.00 late fee is charged to a student who fails to pay the projected account balance or who does not have a Business Office approved payment plan by the due date on the Course and Fee Statement. To determine the projected account balance, deduct the approved financial aid for the semester from the account statement balance. Payments must be received by the Business Office by the due date indicated on the Course and Fee Statement in order to avoid the late fee. A postmark prior to the due date is not sufficient.

If an account must be sent to collection or litigation due to nonpayment of the outstanding balance, Mount Carmel reserves the right to recover all costs involved with the collection and/or litigation of delinquent accounts. Mount Carmel College of Nursing is a non-profit institution of higher learning. As such, student receivable accounts are considered to be educational loans offered for the sole purpose of financing an education and are not dischargeable in bankruptcy proceedings.

Institutional Refund Policy

Mount Carmel College of Nursing tuition and fees refunds for students receiving federal aid will be made according to federal guidelines. Refer to the Federal Refund Policysection of this for the current policy.

  Semester Course     Term Course*
100% refund: on or before 1st Friday   100% refund: on or before 1st Friday
50% refund: through 4th Friday   50% refund: through 2nd Friday
No refund: after 4th Friday   No refund: after 2nd Friday
 

*Refund from second term classes will be calculated beginning with the start date of the second term.

Students receiving federal and state aid will be subject to the Federal Refund Policy that refunds money to federal and state programs before any refund is made to the student. Institutional financial (Memorial Loan, Schell Loan, and other Mount Carmel loan programs; scholarships are excluded from this policy) will be subject to the federal refund calculation for students who withdraw, are dismissed, or take a Leave of Absence (LOA) prior to completing 60% of the semester term. Federal refund calculation includes prescribed methods of returning federal and state aid to those programs. Samples of refund calculations are available upon request from the Financial Aid Office.

Account Balances

Funds are credited to the student’s account as they are received from various sources. Once a student’s account has been credited with financial aid funds and shows a credit balance, the College will refund the credit amount to be used for other educational expenses. If the College receives funds late Fall Semester after Spring Semester billing, the funds may be carried over to Spring Semester. Refunds may be deposited directly in a student’s bank account if the student enrolls in the electronic refund option in the CashNet portion of the Business Office and Account Information section of CARMELink. No federal funds will be carried over from one academic year to the next.

Refund Disbursement

Funds are credited to the student’s account as they are received from various sources. Once a student’s account has been credited with financial aid funds and shows a credit balance, the College will refund the credit amount to the student within two weeks – to be used for other educational expenses. If the College receives funds in late Fall Semester after Spring Semester billing, the funds may be carried over to Spring Semester. No federal funds will be carried over from one academic year to the next. Students may enroll in electronic refund deposits online through CARMELink.

Resident Apartment Leases

Student resident apartments are available with 10-month or 12-month rental agreements. Current rates can be found here . Apartment rentals are billed at the beginning of each semester as follows:

Fall Semester: (August 1—December 31); rent is due before August 31

Spring Semester: (January 1—May 31); rent is due before January 31

Summer Session: (June 1—July 31); rent is due before June 30

Payment plans are available and must be approved prior to the start of the semester or session.

Resident Apartment Refund Policy

The 10- or 12-month rental agreements are binding and non-refundable, with the following exceptions:

  • Student withdraws from the College
  • Student is dismissed from the College
  • Student is granted a Leave of Absence

Financial Aid Regulations

Financial Aid Deadlines

All financial aid (other than merit-based scholarships) is based on need, as determined by standard needs analysis.  A student must file a Free Application for Federal Student Aid (FAFSA) to be considered for federal, state, local and/or institutional aid. In an effort to provide students with timely financial aid, MCCN has established the following deadlines:

  • FAFSA to be completed if the student will be attending Summer Session: April 15
  • FAFSA to be completed if the student will be attending Fall Semester: July 1
  • FAFSA to be completed if the student will be attending Spring Semester: November 15

Campus-based aid will be awarded on a first come basis depending on availability of funds. Applicants must be accepted before a financial aid package will be issued.

Student Aid Report (SAR)

Filing the FAFSA will generate a Student Aid Report (SAR). The processor sends it to the student 6-8 weeks after filing. The College will access this information electronically if the student included the College code on the application. If MCCN was not listed, the student must update the FAFSA with MCCN’s school code (030719).

Award Letter

Once all requirements are met and the student’s file is complete, an offer of financial assistance will be made with a financial aid award letter sent to the student. Failure to return the signed award letter and completion of the entrance counseling and master promissory note within two weeks may result in delay or loss of financial aid.

Financial Aid Verification

As required by the U.S. Department of Education, students who are selected for verification may be asked to supply supplemental information (IRS tax return transcript and verification worksheet). To order a Return Account transcript, go to IRS.gov or call 1-800-908-9946. A student must complete the verification process before any financial aid will be processed. The College follows the federal guidelines for verification and collects the signed verification worksheet and IRS tax return transcript. If the student does not complete verification by the last date of attendance for the academic year, no financial aid will be processed. Mount Carmel College of Nursing may also select a student for verification even if not selected for verification by the U.S. Department of Education. All conflicting data must be resolved before any aid is administered.

Financial Aid - Satisfactory Academic Progress (SAP)

Definition: A student receiving federal Tile IV aid must make satisfactory academic progress (SAP) in order to maintain eligibility for financial assistance. To meet the standards of SAP, a student must meet or exceed minimum academic performance levels in both qualitative and quantitative standards each semester.

Grade Point Average - Qualitative Standards:

A student must maintain a minimum cumulative grade point average (GPA) according to the following:

  Class Level Minimum Cumulative GPA  
  Graduate Student 3.0  
Pace - Quantitative Standards:

A student must be progressively working towards completion of the degree, as measured by hours attempted vs. hours successfully completed, with successful completion of a minimum of 65% of hours attempted.

Maximum Time Allowed for Completing Program - Quantitative Standards:

A student must complete the degree in a reasonable amount of time, as outlined in the regulations. Under no circumstances may a student pursuing a first bachelor’s degree exceed 150% of the time normally required to complete a program. It is the expectation that all programs will be completed within 4 to 6 years.

A student who is exceeding the max-time-frame will be automatically withdrawn from federal aid and is required to submit an appeal.

A student who does not meet the SAP:
  1. A student who does not meet one or more of the SAP standards will be assigned a warning status for one semester. The student will maintain aid eligibility during this warning period.
  2. If by the end of the warning period (one semester) a student has failed to meet any of the qualitative or quantitative requirements, the status will be changed to withdrawn and no further federal aid will be disbursed.
  3. A student may appeal a withdrawn status if there were documented extenuating circumstances that prevented successful academic progression.
  4. If an appeal is approved, the student’s file will be updated (based on individual circumstances) to either probation for one semester or, in certain circumstances, an academic plan for three semesters. It is the discretion of the SAP Committee to determine which status will assist each student in their academic success.
Details regarding SAP status of warning, probation or academic plan:

Each semester a student is on warning, probation or academic plan status, the student is required to:

  1. Successfully complete all hours attempted in any course for which tuition charges are assessed, or successfully complete at least 12 attempted hours (if attempting more than 12 hours).
  2. Increase his/her cumulative GPA by the end of the probation period in order to maintain the required minimum cumulative GPA for his/her grade level.
  3. Meet all other SAP requirements or any other terms/conditions set by the institution, such as taking a reduced course load or enrolling in specific courses.
Regaining financial aid eligibility when the status is SAP withdrawn:

Regaining eligibility for Title IV aid may occur in one of the following ways:

  1. Submit an appeal - An appeal will only be approved based on documentable extenuating circumstances that affected the student’s ability to be successful. Extenuating circumstances, in general, were unknown, nonexistent, or unpredictable prior to the semester in which the student was withdrawn from Title IV aid (see “Standards of Academic Progress Appeal” below).
  2. A student without a legitimate appeal circumstance may pay all expenses out of pocket while attempting to regain federal financial aid eligibility. The student may submit a subsequent appeal when:
    1. The student has successfully completed any deficient hours and/or increased the cumulative GPA to the minimum requirement for his/her class level; or
    2. The student has completed at least one semester and satisfied SAP requirements.

Standards of Academic Progress (SAP) Appeal

A student withdrawn from federal financial aid due to Pace or GPA is able to appeal the withdrawn status due to extenuating circumstances. If withdrawn due to Max Timeframe, the student can appeal by requesting a review to determine the applicable credit hours that apply towards current degree requirements.

Process for a SAP Appeal:
  1. The student will receive notification via postal mail indicating withdrawn status from financial aid. The student is required to submit a completed SAP Appeal to Financial Aid in order to re-establish financial aid eligibility.
  2. The student may submit an appeal by email, fax, or mail to the MCCN Financial Aid Office.
Elements Required in Appeal:

A letter of explanation detailing:

  1. The nature of the difficulty that led to the inability to meet SAP.
  2. Statement indicating how the circumstances have been resolved and what measures will be/have been taken to ensure academic success.
  3. Third party documentation that verifies the nature of the difficulty that caused the student to have withdrawn status from financial aid (examples include: letter from physician/psychologist, police report, employer documentation, divorce decree, legal records, obituary, death certificate or funeral announcement).

Documentation that is not consistent with the applicable timeframe or is found to be fraudulent will not be considered.

In the case of 150% maximum timeframe appeal:

  1. The student must include a letter providing the Financial Aid Office permission to obtain a degree audit from the Academic Advisor or Office of Records and Registration.
  2. The statement must also include information as to why it has taken the student more than the allotted time to attain the degree. 

Appeals / Special Circumstances

If the student/family financial situation changes after filing the FAFSA, the student should contact the Director of Financial Aid regarding the situation. The student may file a Special Circumstances Form. The College may be able to look at expected year income rather than prior year in cases where the family’s financial situation has changed significantly. A student may file an appeal at any time during the academic year. Once the appeal form and supporting documentation is received by the Financial Aid Office, the student can expect a decision within 4-6 weeks.

In all appeal cases the following guidelines will apply when using professional judgment to determine the outcome of an appeal:

  1. No appeal will be considered without adequate documentation of circumstances.
  2. All appeals are reviewed on a case-by-case basis.
  3. An appeal for independent status will only be considered in cases of documented parental estrangement or abuse, with adequate third party documentation. If the dependent student meets the criteria to be considered for “independent” status, the Financial Aid Office may consider the student’s actual expenses (with adequate documentation) and recalculate the student budget.
  4. All decisions regarding an appeal are final.

Needs Analysis and Packaging Policy

Mount Carmel College of Nursing uses a self-help concept of financial aid packaging. The student must complete both the FAFSA and the Mount Carmel College of Nursing Information Sheet.

A Cost of Attendance Budget is determined for several types of students; actual tuition and fees are calculated for each student.

  • Housing and personal budgets are established for students living at home with a parent or relative, living on campus in the apartments, and living off campus in an apartment or own home.
  • Transportation costs are determined for live-in students and commuters (living with parent or in own apartment).
  • The Financial Aid Office determines each student budget or total cost of attendance and subtracts the expected family contribution from the official student aid report to determine financial need.

Financial aid is packaged in the following order:

  • External and internal scholarships
  • Federal Unsubsidized Loan
  • Graduate PLUS Loans
  • External aid

If students have additional unmet need after the above, they are rank ordered according to highest remaining unmet need to be packaged for institutional aid.

No student can be packaged beyond unmet need. If receipt of additional outside financial aid later results in an over-award, the student’s Stafford Loans will be decreased or canceled first.

MCCN does not guarantee that it can meet the student’s total unmet need for financial aid. Generally, most students have remaining unmet need after being packaged with federal, state, and institutional aid.

The regular academic year is packaged using Fall Semester and Spring Semester enrollment. If a student chooses to attend Summer Session it is added as a “header” term to the upcoming academic year. A student may receive financial aid for the Summer, Fall and Spring. In this instance, aid will be packaged and disbursed in thirds. The financial aid office distributes the Financial Aid Information sheet that must be completed and returned prior prior to the upcoming academic year. The student should document on this form (or a written statement attached to this form) his/her desire to receive financial aid for three semesters.

Loan Counseling

Any student who receives loans from federal, state, or institutional sources is required to complete loan entrance counseling before the loan is disbursed and loan exit counseling when he/she leaves the College. The student must complete the loan entrance counseling session before the first disbursement of a Stafford Loan. If the student fails to complete the entrance session, the loan is canceled and returned to the Department of Education.

The loan entrance session provides the student with information regarding their rights and responsibilities as a borrower.

The loan exit counseling session provides the student with specific information about the loan indebtedness, as well as the student’s rights and responsibilities as a borrower. A student who does not complete the loan exit counseling will have his/her account placed on “hold” and no academic transcripts can be sent to other institutions until the counseling session is completed. If a student leaves MCCN without officially withdrawing, the directions for completing the online exit counseling will be mailed. Graduating students will have diplomas withheld until the loan exit counseling session provided by the Financial Aid Office is completed. Please allow two days for the Financial Aid Office to be notified of your completion of the online exit counseling.

The College is notified by the guaranty agency or loan servicer when a student is delinquent in loan re-payment. The College issues a form letter (provided by the guaranty agency or loan servicer) to the student, requesting that he/she contact the lender or the College.

Guaranty agencies and loan servicers request updated information on students regarding address, etc. The College provides to the guaranty agency or loan servicer any information on file regarding student’s last known address and employer. Providing this information is the responsibility of the Financial Aid Office.

Federal Refund Policy

According to federal law, the Financial Aid Office must recalculate Federal Title IV financial aid eligibility for students who withdraw from all classes, drop out, are dismissed, or take a leave of absence prior to completing more than 60% of a semester. Federal Title IV financial aid and all other aid are viewed as 100% earned after that point in time. Withdrawal date is defined as the actual date the student began the institution’s withdrawal process, the student’s last date of recorded attendance (if taken by an individual instructor), or the midpoint of the semester for a student who leaves without notifying the institution and/or receives failing grades for all classes in a given semester. The Federal Title IV programs covered under this policy include Federal Pell Grant, Federal SEOG, Federal Stafford Loans, and Federal PLUS Loan (Graduate Student or Parent).

The school and the student share the responsibility for returning Title IV aid. The school returns “unearned” Title IV funds that have been paid to the school to cover the student’s institutional charges received from Title IV grants and/or loan programs. If the student owes funds back to the Title IV programs, the institution will advise the student. The student has 45 days from the date of notification from the institution to take action on the overpayment. If the student’s portion of unearned Title IV funds included a federal grant, the student has to pay no more than 50% of the initial amount that the student is responsible for returning. Immediate repaying of the unearned loan amount is not required because the student repays the loan to the lender according to the terms or conditions in the promissory note. The institution will advise the lender of the student’s withdrawal within 30 days of determining the student withdrew.

No additional disbursements may be made to the student for the enrollment period. If the student does not repay the amount owed to the Title IV programs or does not make satisfactory payment arrangements with the U.S. Department of Education, MCCN will report to the National Student Loan Data System (NSLDS) that the student received an overpayment. The student loses eligibility for further Title IV aid until resolved.

Recalculation is based on the percent of earned aid using the following formula:

  • Percent earned = Number of calendar days completed up to and including the withdrawal date /  total calendar days in the quarter/semester.

Federal Title IV financial aid is returned to the federal government (reducing student loan debt) based on the percent of unearned aid using the following formula:

  • Aid to be returned = (100% - percent earned) x the amount of aid disbursed toward institutional charges.

Return of Funds

Federal Title IV financial aid is returned in the order mandated by the U.S. Department of Education. No program can receive a refund if the student did not receive aid from that program. Funds must be returned within 45 days after the date of withdrawal determination. Return of funds required by the student for unearned aid is returned (repaid) in accordance to the terms of the loan on the promissory note. The order is as follows:

  • Unsubsidized Direct Stafford Loans
  • Subsidized Direct Stafford Loans
  • Direct PLUS (Graduate Student or Parent) Loans
  • Pell Grant
  • SEOG

Post-Withdrawal Disbursements

If it is determined that a student is eligible for Federal Title IV financial aid funds that have not been disbursed, grant funds that the student is eligible for will be disbursed first. Federal aid that the student is eligible for will be credited to the student’s account for outstanding charges. If the student has no outstanding charges or if there is a balance due the student after disbursement, MCCN will notify the student of his/her eligibility for the loans. The student must respond within 14 days of the date of the letter as to whether they want all, part, or none of the loan(s). If the student fails to respond within 14 days, no loan disbursement will be made.

Before calculating the amount of financial aid that must be cancelled, the following is taken into consideration:

  • If a promissory note for a Stafford Loan has not been signed and submitted by the student prior to the withdrawal date, the loan(s) is automatically cancelled.
  • If an entrance loan interview has not been completed by the student prior to the withdrawal date, the Stafford Loan is automatically cancelled.
  • If the student is a first-time attendee of MCCN and withdraws during the first 14 days of the semester, the Stafford Loan is automatically cancelled.
  • Students who have not completed verification are not eligible for financial aid and are not included under this policy.

Sources of Financial Aid 

Federal and state grant and loan guidelines are set by federal and state agencies and are not subject to alteration by the Financial Aid Department. Any student who receives financial aid must notify the College Financial Aid Office of all financial assistance received including tuition reimbursement, hometown scholarships, etc. 

Federal Loans

Federal Stafford Loan - Unsubsidized;

This loan program is not need based. Students without need may borrow the same amount as the subsidized Stafford. Independent students have higher loan limits. As a graduate student you may be eligible to borrow up to $20,500 per academic year.

Graduate Plus Loan (GradPLUS):

This loan program is available to eligible students. The loan can be used to pay the “expected family contribution” (EFC) portion of the student’s educational expenses. Interest is determined by the Money Market, and repayment may begin 60 days after the loan has been disbursed.

State Loans  

Nurse Education Assistance Loan Program (NEALP):

This program offers loans to nursing students in Ohio who have “exceptional need” based on the calculated “family contribution” from the FAFSA. Applications are available in the Financial Aid Office in March. Loans are limited to a maximum of $6,000 per year and may be renewed for three years. Application deadline is June 1 of each year. Up to 100% of the loan may be canceled if the graduate practices nursing in Ohio.

Campus-Based Scholarships 

The number of scholarships and the amounts may vary from year to year. Scholarships are considered in calculating financial aid eligibility. Campus-based scholarships are processed and disbursed in the same format as federal and state aid. Scholarships are disbursed during the traditional academic year. Fall and Spring Semester students must be enrolled to receive campus-based scholarship disbursements.

Robert G. and Kathryn R. Schwemley Foundation Scholarship:

Full-time graduate students who have earned a minimum 3.00 cumulative GPA and demonstrated financial need are eligible to apply for this scholarship.

Outside Sources of Financial Aid 

Private Loan:

Mount Carmel College of Nursing has worked with variety of lenders (i.e. banks and credit unions) in providing loans to our students.  Students may contact one of the lenders on the lender’s list or another lender of their choosing.  Loans received cannot exceed the cost of attendance. 

Veterans Benefits:

Mount Carmel College of Nursing is approved for the education of eligible veterans and spouses and dependents of eligible veterans, reservists, and National Guard personnel. Eligibility and educational benefits are determined by the Veterans Administration (VA). The amount of veteran financial assistance is determined by the number of enrolled credit hours. For information about veterans benefits, contact the Veterans Administration at 1-888-442-4551 or at www.gibill.va.gov/