2020–2021 CATALOG AND STUDENT HANDBOOK ACADEMIC INFORMATION AND UNIVERSITY POLICIES To be eligible for STRF, you must be a California resident or are enrolled in a residency program, prepaid tuition, paid or deemed to have paid the STRF assessment, and suffered an economic loss as a result of any of the following: 1. The institution, a location of the institution, or an educational program offered by the institution was closed or discontinued, and you did not choose to participate in a teach-out plan approved by the Bureau or did not complete a chosen teach-out plan approved by the Bureau. 2. You were enrolled at an institution or a location of the institution within the 120-day period before the closure of the institution or location of the institution, or were enrolled in an educational program within the 120 day period before the program was discontinued. 3. You were enrolled at an institution or a location of the institution more than 120 days before the closure of the institution or location of the institution, in an educational program offered by the institution as to which the Bureau determined there was a significant decline in the quality or value of the program more than 120 days before closure. 4. The institution has been ordered to pay a refund by the Bureau but has failed to do so. 5. The institution has failed to pay or reimburse loan proceeds under a federal student loan program as required by law, or has failed to pay or reimburse proceeds received by the institution in excess of tuition and other costs. 6. You have been awarded restitution, a refund, or other monetary award by an arbitrator or court, based on a violation of this chapter by an institution or representative of an institution, but have been unable to collect the award from the institution. 7. You sought legal counsel that resulted in the cancellation of one or more of your student loans and have an invoice for services rendered and evidence of the cancellation of the student loan or loans. To qualify for STRF reimbursement, the application must be received within four (4) years from the date of the action or event that made the student eligible for recovery from STRF. A student whose loan is revived by a loan holder or debt collector after a period of noncollection may, at any time, file a written application for recovery from STRF for the debt that would have otherwise been eligible for recovery. If it has been more than four (4) years since the action or event that made the student eligible, the student must have filed a written application for recovery within the original four (4) year period, unless the period has been extended by another act of law. However, no claim can be paid to any student without a social security number or a taxpayer identification number. Financial Aid at Rasmussen University The University has a professionally staffed Student Financial Aid Office designed to help you apply for federal, state, and private assistance. The primary purpose of financial aid is to help students who otherwise may not be able to attend a post-secondary institution to meet the cost of higher education. The basic responsibility for financing your education lies with you and your family. Aid is based upon documented financial need – the difference between the cost of university and your ability to pay for it – and is subject to federal and state requirements and allowances. Potential costs include books, tuition, supplies, room and board, transportation, living expenses, and child care costs. There are three basic types of aid available to Rasmussen students: • Loan funding through various state and federal student loan programs. These funds must be repaid. • Gift Aid, also known as grants, is assistance you do not have to pay back and is usually based upon financial need. • Employment through work study programs may provide relevant work experience and decrease the necessity of borrowing student loans for living expenses. Once a student has had their financial aid eligibility determined, a payment plan will be created for any balance still owed the University. If a student has not submitted all requested financial aid eligibility documentation by the beginning of the fifth week of the quarter, a payment plan will be created for the full balance owed. The student still has the opportunity to submit all requested financial aid eligibility documents to have their aid eligibility determined; however, the payment plan will remain active until such time as the balance is paid in full. Financial Aid Disbursement: A student must be officially accepted to Rasmussen University in an eligible degree or certificate program as one of the eligibility requirements to receive and have financial aid disbursed to their student account. Rasmussen University begins disbursing financial aid no earlier than three weeks into the term. Funds are first applied to your tuition and fee charges. Any remaining funds (excess funds) are disbursed according to your Credit Balance Directive. All financial aid excess funds and other school refunds are delivered to students through a partnership between Rasmussen University and BankMobile. Your student account will show an unpaid balance until this disbursement occurs. If the aid you are eligible to receive does not cover your charges, a Student Payment Plan is created and can be viewed on the Student Account Center. Financial Aid Cost of Attendance: Your financial aid cost of attendance (COA) is the estimated average and reasonable cost of completing an academic year at Rasmussen University. An academic year usually consists of nine months (three quarters). Your COA serves as the foundation for determining your financial need as well as the amount of financial aid, including grants, scholarships, loans, and work-study that can be offered to you. The COA can only include costs for the individual student. The Student Financial Aid Office may adjust the COA for students on a case-by- case basis to address individual, unique circumstances. Your actual charges for tuition and fees, also known as direct costs, will be different than what is reflected in your financial aid COA. That is because the COA is based on estimated averages. To view your actual tuition and fee charges, go to the Student Account Center. EXAMPLES of 2020-2021 Financial Aid Cost of Attendance (COA) ALL SCHOOLS EXCEPT NURSING AVERAGE DIRECT COSTS Tuition (for illustration purposes only) Fees & Books (for illustration purposes only) TOTAL Average Direct Costs* (for illustration purposes only) Estimated Indirect Costs Housing & Meals Personal Costs Transportation TOTAL Estimated Indirect Costs** Total Estimated COA Living with Parent $10,164 $2,460 $12,624 $4,320 $2,700 $2,214 $9,234 $21,858 Not Living with Parent $10,164 $2,460 $12,624 $8,613 $2,700 $2,214 $13,527 $26,151 $15,240 $2,460 $17,700 $4,320 $2,700 $2,214 $9,234 $26,934 SCHOOL OF NURSING Living with Parent Not Living with Parent $15,240 $2,460 $17,700 $8,613 $2,700 $2,214 $13,527 $31,227 * Actual tuition, fee, and book charges vary by student, credit load, and program of study. To view your actual charges, go to the Account Center. **Actual costs vary by student, based on student choice and travel habits. Several programs also have a one-time Program Administrative Fee which may be added to the COA. GI Bill® ALL CONTENT IS SUBJECT TO CHANGE BY ADDENDUM is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at https://www.benefits.va.gov/gibill. 139
