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Fraud

Fraud and Abuse: Conflicting information may cause the financial aid administrator to consider whether the student made an honest mistake or engaged in fraud. The difference is whether false information was provided with the intent to deceive. According to the regulations, examples of fraud include: False claims of independent status False claims or citizenship Use of false identities Forgery of signatures of certifications False statements of income If the Financial Aid Administrator (FAA) suspects or can prove intent to de fraud the federal government, the information will be given to the Director of the school and he will assess the […]

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Victims of Identity Theft

Victims of Identity Theft Victims of identity theft who cannot get a return transcript or use the DRT must call the IRS’s Identity Protection Specialized Unit (IPSU) or toll-free number at 800-908-4490. After the IPSU authenticates the tax filer’s identify. The student can ask the IRS to mail him or her alternate paper tax return transcript known as the TRDBV (Transcript DataBase View). If none of the aforementioned information is available to the student, the financial aid office will accept the a tax- return and with the Preparer Tax Identification Number (PTIN) or EIN number that has been signed, stamped, […]

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Verification Process

Verification Process It is a process by which certain data reported on the FAFSA is reviewed by the school for accuracy and completeness. The verification process plays a vital role in ensuring that the correct amount of the Title IV funds is disbursed to each eligible student. All students enrolled who were randomly selected for verification by the Central Processing System (CPS) and any other the institution has reason to believe that the application information is incorrect or contains conflicting information will be resolved. Applications may be reviewed based on the DOE’s current required data elements and any specific predetermined […]

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Eligibility for Direct Loan

There are often instances when the grant(s) received for students educational cost is not sufficient to cover student’s full tuition. Additionally, students have the option to obtain student loans. The Direct Loan (DL) program provides federal loans funded by the Department of Education to eligible applicants. This type of loan is for educational expenses and requires repayment at a specified time. MASTER PROMISSORY NOTE (MPN) for a Direct Loan Before any money is disbursed, all students must have a signed Direct Subsidized Loan/Direct Unsubsidized Loan Master Promissory Note (MPN), the Borrower’s rights and Responsibilities statement, and the Plain Language Disclosure […]

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The Application Process

The first step is to create a new FSA ID  Create an FSA ID account below. An FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature.Only create an FSA ID using your own personal information and for your own exclusive use. You are not authorized to create an FSA ID on behalf of someone else, including a family member.You are not allowed to have an employee or agent of a commercial entity, or other third party, create an FSA ID for you for any purposes including but not limited to: payment reductions, […]

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Eligibility Requirements

NSLDS Report to Determine Eligibility During a student’s initial interview stage with the financial office, the school practice is to first pull a NSLDS report to determine the student’s initial eligibility, such as default, overpayment and aggregate limits. The financial aid officer will also look at previous educational experiences or overlapping loans. Eligibility is the foundation for determining who receives federal student aid. The financial aid representative at Merryfield Academy will determine student(s) eligibility. To be qualified for financial aid a student must meet the following criteria: Demonstrate financial need Be enrolled or accepted for enrollment as a regular student, […]

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Merryfield Academy Financial Aid Mission Statement

Financial Aid Mission Statement To assist students and families seeking resources to finance a post-secondary education by administering comprehensive federal, state and institutional aid programs in a student centered environment. To accomplish this mission we will: Provide quality customer service to students from a knowledgeable and professional staff committed to providing accurate, clear information appropriate to their individual needs. Provide accessibility and opportunities for students to apply for financial aid via computers, forms, publications and personalized assistance. Award financial aid in equitable and consistent manner. Protect the privacy of students and assure the confidently records and personal circumstances. Respect the […]

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Introduction

An Introduction of Merryfield Academy The pursuit of higher education is the dream of many Americans and financial aid helps to afford them the opportunity to realize this dream. It is the goal of Merryfield Academy to provide its students and staff with the most current and accurate information regarding Title IV financial aid program. Federal regulations mandate that institutions participating in the Title IV program have written policies and procedures on the delivery of financial aid. Besides being a federal requirement, this document represents Merryfield Academy institutional principles and aims to provide a detailed outline on how our school […]

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Testimonials