Terms and Conditions
As a financial aid recipient at NMC, be aware that:
Your financial aid could adjust any time due to, but not limited to, the following:
- Change in federal, state, or institutional availability of funds
- Change in federal, state, or institutional regulations or policies
- Change in your academic progress for financial aid (SAP)
- Change in your eligibility
- Receipt of funds intended for educational financial assistance
- Computer or human error
If your financial aid adjusts, even after you receive a refund, you may owe the college.
You are responsible for any debt you owe the college regardless of the fact you may be receiving financial aid assistance.
Federal law requires that you be degree-seeking and making Satisfactory Academic Progress (SAP) to receive Title IV Federal Financial Aid.
You are responsible to officially withdraw from classes. NMC will not automatically drop you from your classes.
If you drop your classes you may still owe the college for those costs.
You must be in attendance in your classes to be considered eligible for your financial aid. If you fail to attend one or more classes, your financial aid may be adjusted.
Your financial aid will be calculated on the number of your enrolled credit hours (not contact hours) at the time aid is finalized for the semester.
Refunds will be processed within 14 days by the Business Office after your financial aid has actually PAID to your account.
If you withdraw or stop attending, your financial aid may be adjusted because the school is required to complete a Federal Return to Title IV Refund calculation to determine how much financial aid you earned. If NMC is required to return any funds to the US Department of Education, you will be required to repay those funds to NMC.