CONSUMER INFORMATION

The Higher Education Opportunity Act (HEAO) of 2008 requires disclosure of policies that can affect students in colleges and universities.  The following information is disclosed in compliance with this federal law.

For the Net Price Calculator, HEOA requires that ABU use the data from the most recent year reported available. Therefore, the information provided is representative of 2014-2015. 

ENTRANCE COUNSELING FOR STUDENT LOAN BORROWERS

Entrance Counseling is required before you can receive your first Direct Subsidized Loan, or Direct Unsubsidized Loan as an undergraduate, or your first Direct PLUS Loan as a graduate/professional student.

To complete Entrance Counseling:  studentloans.gov

EXIT COUNSELING FOR STUDENT LOAN BORROWERS

Exit Counseling is required when you graduate, leave school, or drop below half-time enrollment. Exit Counseling provides important information you need to prepare to repay your federal student loan(s).

To complete Exit Counseling:  studentloans.gov

DISBURSEMENT OF FINANCIAL AID

The earliest financial aid may be credited, or disbursed, to a student’s account, or bill, is 10 days before the semester begins. However, financial aid will not credit to the student’s account unless all eligibility requirements have been met and verification has been completed. In addition, if the student is taking out a student loan, the student must have completed entrance loan counseling and completed a master promissory note for the respective loan program.

REFUNDS

When your financial aid for the semester is greater than your direct charges (tuition, fees, etc.) on your student bill, you are entitled to a refund for the difference to use toward other educational expenses such as books, transportation and living expenses.

The Business Office issues refunds to students in the form of a refund check no later than 14 days after the first day of classes or after financial aid is credited to the student’s account.  For more information, check with the Business Office for a refund schedule.

Be smart – if you don’t need your refund for necessary educational expenses, consider reducing your loan debt instead of spending your refund check.  See a financial aid counselor to discuss your options.

RETURN OF FINANCIAL AID

The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations.

If a student leaves the institution prior to completing 60% of a payment period or term, the Financial Aid Office recalculates eligibility for financial aid funds. Policies for treatment of financial aid for withdrawal are specific to each type of financial aid and are applicable only if the students has received those particular funds.  Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula.  This formula determines the percentage of the semester completed, which is the same percentage of earned financial aid:

Total # of Days Student Completes Until Withdrawal/Total # of Days in the Semester or Payment Period

Funds are returned to the appropriate program based on the percentage of unearned aid using the following formula:

  • Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.
  • If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution.
  • If a student earned more aid than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student’s withdrawal.
  • The institution must return the amount of Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the student’s withdrawal.

Refunds are allocated in the following order:

  1. Unsubsidized Federal Direct Stafford Loan
  2. Subsidized Federal Direct Stafford Loan
  3. Federal Perkins Loan
  4. Graduate Federal Direct PLUS Loan
  5. Parent Federal Direct PLUS Loan
  6. Federal Pell Grant
  7. Federal SEOG Grant
  8. Federal TEACH Grant
  9. Iraq and Afghanistan Service Grant

NATIONAL STUDENT LOAN DATA SYSTEM (NSLDS)

Federal student loan records of students and parents will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system. Students and parents may view their federal loan record history by visiting nslds.ed.gov.

STATE GRANT ASSISTANCE

State need based student aid programs also use results from the FAFSA to determine eligibility for state funds. State aid deadlines are published on the FAFSA. For more information on WV state aid visit cfwv.com. Students should check with their home state’s department of education for additional application requirements.

PREFERRED LENDER LISTS AND ARRANGEMENTS

Alderson Broaddus University does not recommend, promote or endorse lenders for private education loans. However, we will certify a private loan upon request. Private student loans are nonfederal loans, made by a lender such as a bank, credit union, state agency, or a school.  

Net Price Calculator
Please read. This calculator is intended to provide estimated net price information (defined as estimated cost of attendance — including tuition and required fees, books and supplies, room and board (meals), and other related expenses — minus estimated grant and scholarship aid) to current and prospective students and their families based on what similar students paid in a previous year.

By clicking below, I acknowledge that the estimate provided using this calculator does not represent a final determination, or actual award, of financial assistance, or a final net price; it is an estimate based on cost of attendance and financial aid provided to students in a previous year. Cost of attendance and financial aid availability change year to year. The estimates shall not be binding on the Secretary of Education, the institution of higher education, or the State.

Students must complete the Free Application for Federal Student Aid (FAFSA) in order to be eligible for, and receive, an actual financial aid award that includes Federal grant, loan, or work-study assistance. For more information on applying for Federal student aid, go to http://www.fafsa.ed.gov/
Note: Any information that you provide on this site is confidential. The Net Price Calculator does not store your responses or ask for personal identifying information of any kind.
I Agree

Alderson Broaddus University – Conflict of Interest and Code of Conduct for Financial Aid Professionals

I. Purpose

The purpose of this policy is to prohibit conflicts of interest in situations involving student financial aid and to establish standards of conduct for employees with responsibility for student financial aid.

II. Applicability

This Policy applies to all employees who work in the Financial Aid Office and all other University employees who have responsibilities related to education loans or other forms of student financial aid.

III. Definitions

A. Conflict of Interest: A conflict of interest exists when an employee’s financial interests or other opportunities for personal benefit may compromise, or reasonably appear to compromise, the independence of judgment with which the employee performs his/her responsibilities at the University.

B. Gift: Any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount. The term includes a gift of services, transportation, lodging, or meals, whether provided in kind, by purchase of a ticket, payment in advance, or reimbursement after the expense has been incurred. The term “gift” does not include any of the following:

1. Standard materials, activities, or programs on issues related to a loan, default aversion, default prevention, or financial literacy, such as a brochure, a workshop, or training.

2. Training or informational material furnished to the University as an integral part of a training session that is designed to improve the service of a lender, guarantor, or servicer of educational loans to the University, if such training contributes to the professional development of the University’s employees.

3. Favorable terms, conditions, and borrower benefits on an education loan provided to a student employed by the University or an employee who is the parent of a student if such terms, conditions, or benefits are comparable to those provided to all students of the University and are not provided because of the student’s or parent’s employment with the University.

4. Entrance and exit counseling services provided to borrowers to meet the University’s responsibilities for entrance and exit counseling under federal law, so long as the University’s employees are in control of the counseling, and such counseling does not promote the products or services of any specific lender.

5. Philanthropic contributions to an institution from a lender, servicer, or guarantor of education loans that are unrelated to education loans or any contribution from any lender, guarantor, or servicer that is not made in exchange for any advantage related to education loans.

6. State education grants, scholarships, or financial aid funds administered by or on behalf of a State.

C. Opportunity pool loan: A private education loan made by a lender to a student attending the University or the family member of such a student that involves a payment, directly or indirectly, by the University of points, premiums, additional interest, or financial support to such lender for the purpose of such lender extending credit to the student or the family.

D. Revenue-sharing arrangement: An arrangement between the University and a lender under which (a) a lender provides or issues a loan to students attending the University or to their families; and (b) the University recommends the lender or the loan products of the lender and in exchange, the lender pays a fee or provides other materials benefits, including revenue or profit sharing, to the University or its employees.

IV. Institutional Policy Regarding Education Loans and Student Financial Aid

A. Revenue-Sharing Arrangements

The University will not enter into any revenue-sharing arrangement with any lender.

B. Interaction with Borrowers

When participating in the Federal Family Education Loan Program (FFELP), the University will not assign a first-time borrower’s federal loan, through award packaging or other methods, to a particular lender. The University will not refuse to certify, or delay certification of, any federal loan based on the borrower’s selection or a particular lender or guaranty agency. When participating in the Federal Direct Loan Program, the University may assign a first time borrower’s federal loan to the Federal Government as the lender. Under no circumstances will the University assign a student’s private student loan to a particular lender, or refuse to certify or delay certification of any private loan, based upon the borrower’s selection of lender or guaranty agency.

C. Private Loans

The University will not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to students in exchange for the University providing concessions or promises regarding providing the lender with (i) a specified number of federal loans; (ii) a specified federal loan volume; or (iii) a preferred lender arrangement for federal loans.

D. Co-Branding

The University will not permit a private educational lender to use the University’s name, emblem, mascot, logo, or any other words, pictures, or symbols associated with the University to imply endorsement of private educational loans by that lender.

E. Staffing Assistance

The University will not request or accept from any lender any assistance with call center staffing or financial aid office staffing. Nothing in this section, however, prevents the University from accepting assistance from a lender related to (i) professional development training for its staff; (ii) providing educational counseling materials, financial literacy materials, or debt management materials to borrowers, provided that such materials disclose to borrowers the identification of any lender that assisted in preparing or providing such materials; or (iii) staffing services on a short-term, nonrecurring basis to assist the University with financial aid-related functions during emergencies, including State-declared or federally declared natural disasters, federally declared national disasters, and other localized disasters and emergencies identified by the Secretary of Education.

V. Code of Conduct

A. Conflicts of Interest

1. No employee shall have a conflict of interest with respect to any education loan or other student financial aid for which the employee has responsibility.

2. No employee may process any transaction related to his/her own personal financial aid eligibility or that of a relative.

B. Gifts

No employee may accept any gift from a lender, guarantor, or servicer of education loans. A gift to a family member of an employee or to any other individual based on that individual’s relationship with the employee shall be considered a gift to the employee if the gift is given with the knowledge and acquiescence of the employee and the employee has reason to believe the gift was given because of the employee’s position at the University. Token awards from professional associations (state, regional, or national) that recognize professional milestones or extraordinary service to parents and students, or scholarships for conference attendance or other professional development opportunities, may be accepted.

C. Prohibited Contracting Arrangements

No employee shall accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.

D. Advisory Board Compensation

No employee who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors may receive anything of value from the lender, guarantor, or group of lenders or guarantors in return for that service.

E. Reimbursement of Expenses

Expenses incurred while attending professional association meetings, conferences, or in connection with service on an advisory board, commission, or group described in Section V.D. of this Policy must be paid by the University.

F. Meals

Employees may occasionally need to share meals with employees of lenders, guaranty agencies, or other colleges or universities in the course of business. Meals offered as a part of meetings, conferences, or other events may be accepted if all participants in the meeting or event are offered the meals or if the meals are included as a part of a registration fee.

VI. Policy Violations

Violations of this Policy may result in disciplinary action, up to and including dismissal.

FEDERAL STUDENT FINANCIAL AID PENALTIES FOR DRUG LAW VIOLATIONS

A conviction for any offense, during a period of enrollment for which a student was receiving Title IV, HEA Program (federal) funds, under any federal law involving the possession or sale of illegal drugs will result in the loss of eligibility for any Title IV, HEA grant, loan or work study assistance (HEA Sec. 484(r)(1)); (20 U.S.C. 1091(r)(1)).

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