- Financial Aid is to be used for NAU educational expenses only.
- You can only receive financial aid from one institution per semester based on enrollment at that school. For detailed information, please go to SAP web site.
- You must maintain Satisfactory Academic Progress and complete the number of hours for which you are funded per semester.
- Any corrections to your financial aid information such as number of household members, number in college, hours attending, must be reported to the Office of Student Financial Aid. You will be held responsible for repayment of any over-awards due to these changes.
- If you decide not to attend NAU, you must notify the Office of the Registrar or Financial Aid, if applicable, of your official withdrawal.
- Financial Aid awards may be adjusted if additional funds are received after your initial financial aid package is offered.
- If you receive federal aid and are selected as part of a random sample for the Quality Assurance Program, you are required to participate by providing documentation as requested.
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NAU is authorized to use any financial assistance awarded to you, including Pell Grants and any other Title IV funds, to pay your fees and obligations. All fees and obligations that are owed or will be owed to NAU for the awarded academic year (including, but not limited to, fees for registration, tuition, housing, health insurance, class fees, parking tickets, library charges, etc.) will be deducted from your financial aid when received.
If sufficient aid is not received to pay your fees, you must pay the balance of your fees to NAU if you desire to remain enrolled. These fees must be paid even if you don't attend classes unless you go through the official withdrawal process as described in the NAU General Catalog and Class Schedule. In order to receive financial aid, you cannot owe a refund on any grant or educational loan. You cannot be in default on any educational loan or, if you have defaulted, you must have made satisfactory arrangements to repay any defaulted educational loan. You must not have borrowed in excess of the educational loan limits under Title IV at any institution.
If you are in default under this statement, you may be charged interest on the unpaid balance at the rate of 1½ percent per month (annual percentage rate 18%). Understand that if you are in default on any of the above, the institution may disclose that you have defaulted, along with other relevant information to credit reporting agencies. You may have to pay collection costs, and should it become necessary for NAU to retain an attorney or collection agency to secure payment of any amount due, you may have to pay all attorney's fees, court costs and collection agency charges including contingency fees. |
