North Central University Financial Aid System

Hi guys I am wondering why North Central University is no longer using the federal Financial Aid for it's students. I was informed that this will bring a kind of flexiblity to the completion time of the programs.

Thanks
Kelechi

 

What the heck?

Well, that was one of the top three reasons I was considering enrolling there. Are you certain that's true? Sounds crazy.
Dan B

from their website copied today...

"Education Loans
NCU is a Title IV school and participates in the federal financial aid programs such as Pell Grants and Stafford Loans. These FA programs enable you to pay for most or all of your tuition, books, and education-related expenses."

and in their admissions section...

"Can you tell me about financial aid?
Northcentral University (NCU) is pleased to announce its participation in the Federal Title IV student financial aid programs, specifically the Federal Pell Grant program for undergraduate students, and the Federal Family Education Loan program (subsidized, unsubsidized, and parent loans) for undergraduate and graduate students.

Information on federal aid and how to apply is available at: http://www.ncu.edu/university_information/fas/"

It would really surprise me if this were true.

 

Yes, I just talked to them and they informed me that this development actually started today. The representative I talked to informed me that they are changing to their old system where they can set up payment arrangements. One can either pay off the whole program in full with a 10% discount, or set up payments of $250.00 a month for a class. Also they have alternate private loans. She informed me she will contact me back on all the fine prints. I wanted to know the interest rate for the loans. However, I will wait till I hear from them.

Kelechi

 

Re: What the heck?

I tried the link and it no longer works.

I was seriously considering NCU. I don't want financial aid but am concerned why they are no longer offering it.

Not a good sign.

Just my opinion

 

I would venture to guess then that Touro will soon be getting more apps to their programs.

 

Re: Re: What the heck?

I thought FAFSA was one of the big drivers behind RA or DETC... Hmm.

Dave

 

Maybe they lost their waiver from the 50% rule:

http://chronicle.com/prm/weekly/v50/i16/16a02901.htm

requires username password

http://www.ed.gov/programs/disted/desc-northcentral.html

Waivers Provided

http://www.ed.gov/programs/disted/participants.html

A number of schools have withdrawn from the Distance Education Demonstration Program including Florida State University.


Interesting....

 

Yes this is very interesting. I also noticed that the Learner website no longer has a direct IM link to the Financial Aid Department. Hmmm...

I sent a message a message to the Accounting office, and asked what was going on. I think that whatever the problem is, they should announce it soon.

It may have to do with the course participation requirment and the time it takes to complete degrees. In some instances, people trying to do a degree, and only taking 1 class at a time, would have to wait 4 or 5 years to complete an MBA. This would be a turnoff.

Also, many learners complained of the course participation requirment, which was required for financial aid.

I don't think this is an indication of NCU's status, such as if it were in trouble. They are expanding rapidly, are fully RA (Not up for review again for a decade) and jumping to conclusions will not solve anything.

I'm going to call them today. Whatever I find out, I will post here in this forum.

 

From what I have learned, it appears that the rationale and decision for this change has to with the expectations the U.S. Department or Education has for NCU relating to their degree programs. For instance, they expected NCU to have a residency or face-to-face component and the school wished to maintain its nontraditional non-residency format. In lieu of federal financial aide it appears that the school will offer other alternatives for obtaining student loans.

In addition, NCU will be allowing students to complete courses and start new ones at the beginning of each month rather than the beginning of each term; a protocol they had in place initially but which was discontinued and replaced by a three semester system. Morever, there will be a tuition discount of 10% offered for all students who pay the full amount of the degree upfront.

NCU's regional accreditation status is not effected by this decision and does not appear to be cause for any concern. Personally, I believe that this school's lack of residency requirement is a major consideration for many prospective students.

 

Rocks my world.
I had all my stuff in and was going to start in April, hopefully.
Back to the drawing board............crap.
BH

 

I spoke with Lee Everest today, who is in charge of Learner Affairs. She stated that nothing is wrong academically, nor is NCU in any sort of trouble. They will be putting a message on the learner site explaining their decisions, and what will be happening in the near future.

When this message has been posted, I'll re-post it here.

 

Farewell NCU

Well, that's it. I'm not going to NCU. I'm a poor old broke feller who needs his fin aid just to go to school. I have been very excited about moving from UWA to NCU when I resume my psych work. Too bad. I think its a major screw up and to not have the fin aid component really takes the school down a notch for many folks. Now I guess it's either Capella or Fielding and the OUTRAGEOUS tuition for the APA acc.
Bummer.
Dan B

 

Here is NCU's official response:

This mass email is being sent to all NCU Learners to let you know of some important developments.

Financial Aid - Effective April 1, 2005, Northcentral University (NCU) will no longer participate in Title IV Federal Financial Aid.

Why NCU Did This - The overwhelming majority of our Learners have said that the reason they enrolled in NCU was our flexibility and individualized programs. Learners felt that in the past few months, with all the new rules and the structured "campus" type environment, NCU had changed and was becoming inflexible. NCU Learners have voiced their concerns on the NCU discussions boards concerning the direction the school was taking and WE HEARD YOU!

Regional Accreditation - This action does not in any way affect our accreditation. We are accredited by The Higher Learning Commission of the North Central Association of Colleges and Schools.

What This Means To All NCU Learners - NCU is returning to its original course delivery concepts and focusing on our strengths:

.Courses start the first of every month.
.Learners now have the ability to accelerate or fast track their degree programs to suit their needs. You can complete your course in 16 weeks or less and begin your next course the first of the following month.

."Taking attendance" on a weekly basis has been eliminated. This constraint was challenging for many Learners due to their unique needs and schedules.

.No tuition increase in 2005.
.Expanded payment and monthly payment options available. (to be announced on our website).
.Paid in full degree programs earn a 10% discount.
.In the very near future, our financial aid staff will be offering alternative bank and private loan programs such as SallieMae Career Loans.

What This Means to Learners On Federal Financial Aid

.If you have already received your financial aid award, and you satisfactorily complete your current course(s), you need not be concerned about returning the funds you have already received.

.If you have applied for financial aid and have been awarded for the terms beginning on or before March 1, 2005, your financial aid funds will be disbursed.

.No financial aid disbursements will be made for terms beginning on or after April 1,2005.
.Funds scheduled to be disbursed for terms that begin after April 1, 2005 will be cancelled.
.Learners who had anticipated using federal financial aid for April 1st start dates are required to use alternative programs to pay their tuition (Please see "Alternative Tuition Payment Options" below).

Alternative Tuition Payment Options - NCU offers the following programs to help you meet your financial needs:

.NCU interest free (and no fees) monthly payment plan; the total cost of your courses will be spread out over 4 months. Also, Learners may opt for an extended 6 month payment plan; however you may not start your next course until the current course(s) are paid. Alternative bank financing available through SallieMae Career Loans.

.If you choose the monthly payment plan your tuition will remain at the current rate for 3 years as long as you remain active in your program. If you discontinue your program, you must reapply and you will be subject to the current tuition rate in effect at the time.

.Paid-in-full will receive a 10% discount. If you discontinue with your program, you will only be charged for the courses you have enrolled in (in accordance with our refund policy) and the balance of your monies will be refunded within 30 days.

Who To Contact If You Still Have Questions - Please call the toll free number: 888-327-2877 and speak with Ronnie Strawn (EXT. 8080) if you have specific questions regarding your financial aid status. Contact Lee Everest (EXT 8042) if you have non financial aid related questions.

 

Great news! Thanks

NCU here I come.

 

Hmm..No aid huh!

Well, I think that maybe the real reason was that it became a huge hassle for there staff to keep up with. I remember hearing about another online school who had to get rid of there financial aid due to demand issues and time. Also, I'm not completely sold on the fact that it was all due to the students wanting changes. I think that they are a small fraction of the real reason. I welcome the new changes only if they offer a very much longer payment out of pocket plan.

I was never a big fan of student loans and regret having to get one in my first semster at NCU. But if not for that aid I wouldn't have been able to attended the school this semster. So, alot of students will suffer who depended on this aid.

 

Assuming a semester is 16 weeks long...

I speculate that it is more profitable for NCU to do away with the Federal funds because:

Receiving the Federal funds required the school to be rigid in their enrollment procedure. Students could no longer sign up for another course as soon as they finished the last course. Instead they had to wait until the 16 (?) week semester ended. Thus, incoming revenue into NCU would be drastically slowed because students can't sign up for classes immediately after completing a class. As an example, I finished a NCU class in a couple of weeks, which would mean that I could not sign up for another class until 14 more weeks elapsed.

It's all about money.

 

Whether making money is a significant factor for NCU allowing students to complete courses and take additional ones prior to the end of the semester, the fact is that many students wish to have this flexiblity enabling them to expedite the completion of their degree programs. In addition, NCU is not raising their tuition for the 2005 period which amounts to approximately $1,400 per course. Contrast this figure with Capella that charges approximately $4,000 a quarter period, even if one takes only 1 course, and we can see that NCU is still a bargain.

 

Hi

I'm kind happy with the new arrangements only becuase I recently got a second part time job and will be able to pay a monthly price. But, the sad part is that the title IV was like a safety net for me if I happen to lose a job while still in school. I liked have the nice option of paying for my education with students loans. However, now I can only choose the out of pocket. That's what really hurt. I pray I can work two very demanding jobs and still complete my degree.