Federal Consumer Information Disclosures
We are providing this information to the public as a federal requirement of schools to provide an annual notice to all enrolled students describing the availability of the required consumer information.
Basic Financial Aid Information
How awarding works:
Students must complete the Free Application for Federal Student Aid (FAFSA). Once we have reviewed your information and determined your demonstrated need, you will be notified of your award for the coming year. All aid awarded is need-based only.
The grant component could be made up of the following funds:
Pell Grant - This grant is awarded to students based on their Federal Estimated Family Contribution (EFC) as determined by filing the FAFSA.
TEACH Grant - This grant is awarded to students who are planning to become teachers in a high-need field in a low-income school.
SEOG Grant - This grant fund, allocated to colleges by the federal government, is awarded to our neediest students who are also receiving a Pell Grant.
Reach University Scholarship - Institutional Grant need-based funding
Eligible students will be offered financial composed of grants. While loans are available, Reach University does not use loans to meet a student's financial need. We believe in making access to higher education and careers affordable without the use of loans.
While students are not expected to borrow educational loans to pay for school-related expenses, we do offer Federal Direct Loans.
The Department of Education provides educational loan funding directly to students for educational expenses.
For more information about loans, see our Financial Aid Student Handbook.
Financial aid will be applied directly credited to your student account to pay for tuition. There are institutional and federal guidelines for checking eligibility prior to disbursement. If you have any outstanding documents that need to be completed in order to disburse your aid, they will be listed on the student portal.
Aid Disbursed by Outside Agencies
The grants, scholarships and loan funding students receive from outside agencies (state, local, private) are disbursed to the student's account as they are received from the outside agency.
All student loan borrowers who graduate or drop below half-time
enrollment are required to complete Exit Counseling, which details the repayment of student loans. The following information is provided during Exit Counseling:
The anticipated average monthly repayment amount;
The available repayment plan options;
The options for each loan to prepay, pay on a shorter schedule, or change repayment plans;
The effects and repercussions of loan consolidation;
Debt management strategies designed to facilitate repayment;
Information on how to contact the borrower’s Direct Loan Servicer;
The consequences of default;
The terms and conditions under which a borrower may obtain full or partial forgiveness, cancellation, deferment, or forbearance.
Details on the availability of the Department’s Student Loan Ombudsman’s office;
Details on the National Student Loan Data System (NSLDS) and how it can be used to obtain Title IV loan status information;
An explanation of how the borrower’s maximum eligibility period, remaining eligibility period, and subsidized usage period are determined; and the sum of the borrower’s subsidized usage periods;
The consequences of continued borrowing or enrollment;
The impact of becoming responsible for accrued interest;
A general description of the types of tax benefits available to borrowers;
Disclosure of the borrower requirement to provide current contact information;
Federal Direct Loans will have their repayment schedules mailed to them from their Direct Loan Servicer. We encourage these students to go through online Exit Counseling.
Outside Grants and Scholarships
Please notify the Financial Aid Office if you received any outside scholarship not listed above.
The Financial Aid Office is responsible for ensuring that students do not receive more financial aid than federal and state eligibility rules allow for, and we are charged with making adjustments as needed.
Continued Eligibility Guidelines
Financial Aid is determined separately each year based on a number of criteria. Eligibility for one school year does not guarantee future eligibility. To determine eligibility for federal aid, you must:
Make satisfactory academic progress
Complete the FAFSA.
For questions about financial aid, contact your student services advisor or firstname.lastname@example.org