Financial Aid and Loan Disclosures – Who to contact info@nova-academy.com For Financial Aid assistance please call 507-280-6910 and ask to speak with a Financial Aid Representative.

Financial aid is available to those who qualify.  Students may qualify for Federal loan and grant programs including Federal Direct Unsubsidized Stafford Loans, Federal Direct Subsidized Stafford Loans, Federal Pell Grant and other Title IV programs as well as Minnesota State Grant, Self Loan and other scholarship opportunities.

Federal Pell Grant: A Federal Pell Grant is for students with financial need and does not have to be repaid. All students are automatically considered for a Pell Grant when the FASFA is filed.

Direct Subsidized Loan: A Direct Subsidized Loan is a low interest loan with a fixed interest rate in which the federal government pays the interest while the student is in school and during periods of authorized deferment.

Direct Unsubsidized Loan: A Direct Unsubsidized Loan is a low interest loan with a fixed interest rate in which the students is responsible for the interest and it accrues while in school, during the grace period and during periods of deferment and forbearance. It is not based on financial need.

Direct Parent Plus Loan: A Direct Parent Plus Loan is a Parent Loan for students. It enables parents with good credit histories to borrow money to pay for their child’s expenses.

G.I. Bill: Programs offered at Nova Academy are approved by the Department of Veterans Affairs.

Minnesota State Grant:  A Minnesota State Grant is for students with financial need and does not have to be repaid.  Students must meet certain residency guidelines in order to qualify.

Minnesota SELF Loan: A Minnesota SELF Loan is a state loan but is considered a private loan. Nova Academy of Cosmetology does not have a preferred lender list.  Direct Loans are what most of our students utilize because the terms and conditions of the Title IV, HEA program loans may be more favorable than the provisions of the private education loans.

Criteria for selecting recipients

To be considered for aid, students must complete a Nova Academy of Cosmetology Financial Aid Application and a Free Application for Federal Student Aid (FAFSA) for the appropriate financial aid year. The determined amount of financial aid will be based on financial qualifications.

As a clock hour school, Federal Financial Aid is disbursed according to a 910 hour academic year as follows: start/30 days, 455 hours, 910 hours, and 1230 hours for a Cosmetology student. Students must be maintaining Satisfactory Academic Progress to receive Title IV funds. Satisfactory Academic Progress is monitored at a prior to crossing over into your next payment period.

Title IV loan borrowers must complete a Master Promissory Note and participate in Entrance Counseling prior to their first disbursement of Federal Loans. Entrance counseling discusses the Rights and Responsibilities a student borrower has. Please go to https://studentloans.gov for completion of these steps.

More information and Entrance/Exit Loan Counseling can be found at:

https://studentloans.gov/myDirectLoan/counselingInstructions.action

Title IV loan borrowers must also participate in Exit Counseling, which discusses your Rights and Responsibilities regarding your obligations towards repayment of your loans. It is strongly advised that borrowers create a budget.

More information and Entrance/Exit Loan Counseling can be found at: https://studentloans.gov/myDirectLoan/counselingInstructions.action

Pursuant to the Family Educational Rights and Privacy Act of 1974 (“FERPA”), Nova Academy of Cosmetology has established a policy for the review, release and amendment of student records. As stipulated in the Privacy Act, Nova Academy of Cosmetology requires written authorization from the student, (or parents/ guardians if less than 18 years of age,) before we will release any information about the student to any agency or prospective employer. Student’s records are protected under the Privacy Act and are treated with the utmost confidentiality by all personnel. Access to these records is available to the student or parents/ guardians if less than 18 years of age by appointment under supervision of the school. Governing and accrediting agencies have the right to review records. FERPA provides that “directory information” as defined by the school may be made available to the public unless within 10 business days after enrolling in a program at Nova Academy of Cosmetology, a student delivers a written request to the Director of Education that the Directory Information on that student not be made public. Nova Academy of Cosmetology defines directory information as a student’s name, address, telephone numbers, program attended and dates attended.

Students may obtain a release of information form from the Student Services office.  An Authorization to Release Future Professional Records form needs to be completed each time permission is given to release Future Professional information. The student must sign giving the school permission. The school may only release the information designated on this form. It is highly recommended that students complete this from when they interview at salons and the salons contact the school about the student.

Each student may request access to their records in writing. Nova has 10 days to accommodate the request from date of submission.

We have accommodated students with certain disabilities and our facilities can accommodate certain conditions. Please come see us if you are interested to see if it is a fit for you.

The refund policy is as follows:
*If a student’s application is rejected by the school or if he/she cancels enrollment within three business days of signing the enrollment contract, all money collected by the school will be refunded, whether or not the student has begun the course of instruction.
*If a student cancels his/her enrollment after three business days of signing the enrollment contract, but before the student begins course instruction, all money less than $50 registration fee and $50 kit deposit will be refunded.
*If the school cancels a course after a student’s enrollment, the school will provide a full refund of all money paid.
*If, for any reason, the school is permanently closed and no longer offers instruction after a student has enrolled, the student is entitled to a pro rated refund of tuition even if the student’s enrollment is beyond 60% of the program.

*If either party cancels the contract after the student begins class and after three business days of signing the enrollment contract, the school will keep the registration fee, the student kit fee and the applicable pro rated tuition amount.

INSTITUTIONAL RETURN POLICY

The pro rated calculation for first-time students whose date of withdrawal from the school is before the 60% point in the period of enrollment for which the student has been charged, is determined as follows:
*Determine the total number of clock hours in the enrollment period for which the student has been scheduled.
*Divide that number into the number of clock hours for the program to determine the student’s percent towards completion of the program.

*Refer to the table below to determine the amount of tuition retained.

*Multiply that percentage by the student’s contracted tuition charges.

*To this balance add kit, fees and other charges assessed to the student for the period.
*Subtract any payments made and the result is the balance.

The pro rated refund calculation does not apply to a student whose date of withdrawal is after the 60% point in time in the period of enrollment for which the student will be charged 100% of all tuition and fees.

% Of Enrollment time to                                        Amount of Tuition to

total time of course                                                               retained by the school

.1% to 4.9%                                                                                        20%
5% to 9.9%                                                                                        30%
10% to 14.9%                                                                                    40%
15% to 24.9%                                                                                    45%
25% to 49.9%                                                                                    60%

50% to 59.9%                                                                                    70%
60% and over                                                                                  100%

The student must note that financial aid that has been previously applied to their account may have to be returned which could result in a higher account balance. In the event the student has a balance on their account when they leave School, they will be expected to make payment in full within thirty (30) days or face collections.

All applicable returns by the school shall be paid first to unsubsidized Federal Stafford Student Loans; second to subsidized Federal Stafford Student Loans; third to Federal Pell Grant Program; fourth to those funds calculated based on the Minnesota Office of Higher Education Refund Policy and the Appendix 13 Refund Calculation Worksheet of the Minnesota State Grant Manual; fifth to other federal, state, private or institutional student financial assistance programs; last to the student.

RETURN OF TITLE IV FUNDS

Per federal guideline standards, a student must “earn” federal financial aid awards directly in proportion to the number of hours of the program scheduled.  In other words, a student earns financial assistance as they attend school.  If a student completely withdraws from school, the school must calculate the portion of the total scheduled financial assistance earned.

Divide the clock hours scheduled to have been completed as of the withdrawal date in the period by the total clock hours in the period. If this percentage is greater than 60%, the student earned 100% of the Total Title IV aid disbursed and could have been disbursed for the period. If this percentage is less than or equal to 60%, multiply the percentage of Title IV aid earned by the Total Title IV aid disbursed and that could have been disbursed. If the Total Title IV aid disbursed for the period is greater than the Amount of Title IV aid earned,

this amount of Title IV aid must be returned. If the Total Title IV aid disbursed for the period is less than the Amount of Title IV aid earned, this amount of Title IV aid would be a

post-withdrawal disbursement.  If the student has received personal payments of Title IV aid, he/she may be required to refund the aid to the applicable program.

VETERAN’S REFUND POLICY

In the event that a veteran’s beneficiary enrolls under the provisions of Title 38, US Code and/or Title 10, US Code and discontinues training before completion of the program, the school will retain ten dollars ($10) as a bona fide registration cost.  All other advance payment of tuition, fees and other charges will be refunded to the trainee on a pro rata basis computed to the date of discontinuance of training.

Notice of Cancellation and Refund for Cosmetology, Esthiology, and Nail Technology

Enrollment can be terminated only by written notice of cancellation from one party to the other.

Enrollment is defined as the time elapsed between the actual starting date and the student’s last day of scheduled attendance at Nova Academy of Cosmetology. All monies due the student shall be refunded within 30 days of formal cancellation or formal termination by Nova Academy of Cosmetology; which shall occur no more than 30 days from the last day of scheduled attendance or in case of leave of absences, the documented day of return. The postmark on written notification determines formal cancellation date or the date said information is delivered to a Nova Academy of Cosmetology representative in person as described below.

Notice: All notices shall be delivered or mailed with postage prepaid, registered or certified and return receipt requested to the other party as follows:

To the student – at the address set forth on page one of the Enrollment Agreement.
To Nova Academy of Cosmetology, 1629 N Broadway Suite 7, Rochester, MN 55906, Attn: Director of Admissions.

Notice of a change of address shall be given in writing. Notices may also be delivered to the party in person (in the case of Nova Academy of Cosmetology, individual must be the Director of Education, Business Manger, or Admissions Representative). The postmark on written notification determines formal cancellation date or the date said information is delivered to Nova Academy of Cosmetology representative in person.

The school shall acknowledge in writing any valid notice of cancellation within 10 days after the receipt of such notice.  Any money due to the applicant or student shall be refunded within 30 business days of the official withdrawal date or the date the school discovers that the student has unofficially withdrawn.  The official withdrawal date is determined by the postmark date on written notification, or the date said written notice is delivered to the school director in person.  All miscellaneous costs that have not yet become due will be void.  In case of a leave of absence, the school shall return any money due the applicant within 30 days of the last day of the student’s leave of absence if the student fails to return.

Per federal guideline standards, a student must “earn” federal financial aid awards directly in proportion to the number of hours of the program scheduled.  In other words, a student earns financial assistance as they attend school.  If a student completely withdraws from school, the school must calculate the portion of the total scheduled financial assistance earned.

Divide the clock hours scheduled to have been completed as of the withdrawal date in the period by the total clock hours in the period. If this percentage is greater than 60%, the student earned 100% of the Total Title IV aid disbursed and could have been disbursed for the period. If this percentage is less than or equal to 60%, multiply the percentage of Title IV aid earned by the Total Title IV aid disbursed and that could have been disbursed. If the Total Title IV aid disbursed for the period is greater than the Amount of Title IV aid earned, this amount of Title IV aid must be returned. If the Total Title IV aid disbursed for the period is less than the Amount of Title IV aid earned, this amount of Title IV aid would be apost-withdrawal disbursement.  If the student has received personal payments of Title IV aid, he/she may be required to refund the aid to the applicable program.

5979 Bandel Rd NW, Rochester, MN 55901

Nova Academy has separate classrooms and a clinic floor with beginning and advanced sections, a dispensary, private offices for coaching, reception area and a Student Lounge Area complete with vending machines and kitchen conveniences. Instructors and Students have access to the latest audio visual equipment and a library containing dvd’s, books, video tapes, a comprehensive collection of articles on basic and advanced hair coloring, hair designing, hair cutting, permanent waving, hair relaxing, hairpieces and wigs, make-up, fashions, facials, hair removal, current trend releases, and other cosmetology, esthetics, and nail related subjects.

Nova Academy reserves the right to review incoming transfer hours and credits. The hours and credits will be accepted or declined based on Nova Academy’s curriculum requirements on an individual basis. Currently enrolled Nova Academy students transferring hours and credits from one course to another will be accepted based on the courses requirements. Transfer students will be required to provide a transcript from the previous school to verify hours and take a practical test to determine how many practical hours may transfer.

Unauthorized distribution of copyrighted material, including unauthorized peer to-peer file sharing, may subject the students to civil and criminal liabilities. Copyright infringement is the act of exercising, without permission or legal authority, one or more of the exclusive rights granted to the copyright owner under section 106 of the Copyright Act (Title 17 of the United States Code). These rights include the right to reproduce or distribute a copyrighted work. In the file-sharing context, downloading or uploading substantial parts of a copyrighted work without authority constitutes an infringement. Penalties for copyright infringement include civil and criminal penalties. In general, anyonefound liable for civil copyright infringement may be ordered to pay either actual damages or “statutory” damages affixed at not less than $750 and not more than $30,000 per work infringed. For “willful” infringement, a court may award up to $150,000 per work infringed. A court can, in its discretion, also assess costs and attorneys’ fees. For details, see Title 17, United States Code, Sections 504, 505. Willful copyright infringement can also result in criminal penalties, including imprisonment of up to five years and fines of up to $250,000 per offense. For more information, please see the website of the U.S. Copyright Office at www.copyright.gov (2012-2013 Federal Student Aid Hanbook, Volume 2, Chapter 6, Page 2-105)

Nova Academy is licensed in accordance with Minnesota laws of:
MN Board of Cosmetologist Examiners:
2829 University Ave SE
Mpls, MN 55414
1-612-617-2600

www.bceboard.state.mn.us

Nova Academy is licensed as a private career school with the Minnesota Office of Higher Education pursuant to Minnesota Satutes, sections 141.21 to 141.32. Licensure is not an endorsement of the institution. Credits earned at the institution may not transfer to all other institutions.

Minnesota Office of Higher Education
1450 Energy Park Drive, Suite 350
St.Paul, MN 55108-5227

ACCREDITATION:

Nova Academy is accredited in accordance with NACCAS:
NACCAS
4401 Ford Avenue Suite 1300
Alexandria, VA 22302
1-703-600-7600
www.naccas.org

http://www.justice.gov/dea/agency/penalties.htm

Drug Policy

• Drug and Alcohol Abuse Prevention Program

The Drug Free Workplace Act of 1988 and the Drug Free Schools and Communities Act require that the school provide a drug free workplace and have a drug free awareness program and a drug and alcohol abuse prevention program for students and employees. Information on the school’s drug free awareness program and drug and alcohol abuse prevention program may be obtained from the School Director.
The school prohibits the manufacture, unlawful possession, use, sale or distribution of illicit drugs and alcohol by students and employees on its property and at any school activity whether on campus or at an off-site location. A violation of these policies will result in appropriate disciplinary acts up to and including expulsion in the case of Student and separation from employment in the case of Employees. Violations of the law will also be referred to the appropriate law enforcement authority. Students or employees violating this drug policy may be referred to abuse help centers, counseling or treatment programs. Also as a part of this policy, Nova Academy of Cosmetology reserves the right to, at it’s discretion, to require a student or employee to submit to drug or alcohol tests, and to search vehicles, work stations, furniture, clothing, purses, briefcases, luggage, toolboxes, personal items, mail, computers, voicemail, and e-mail and all other items within the control of the student or employee at issue. Failure to cooperate with such testing or search may result in disciplinary action including expulsion or separation from employment.
All students and employees are charged with the responsibility to read and understand that (1) Nova Academy of Cosmetology by participating in Title IV Federal Funds Programs, must establish a Drug Free Workplace Policy, and its students and employees must acknowledge it and agree to abide by it; (2) any student or employee who is convicted of a criminal drug statute violation that occurred at the school, must notify the School Director no later than five days after such conviction.

• A federal or state drug conviction can disqualify a student for Title IV funds. The Higher Education Opportunity Act provides that an institution must provide to every student, upon enrollment, a separate, clear and conspicuous written notive with information on the penalties associated with drug-related offenses. Convictions only count if they were an offense that occurred during a period of enrollment for which the student was receiving Title IV aid. The chart below illustrates the period of ineligibility for Title IV funds.

Nova’s vaccine policy is aligned with the state of Minnesota’s Post-Secondary Education requirements.
Immunization laws protect everyone, because high immunization levels prevent disease outbreaks. Minnesota has various laws requiring immunizations for children and adults enrolled in child care, school, and college settings. Legal exemptions are allowed – both for medical reasons and conscientiously held beliefs.  Minnesota Statutes, Section 135A.14, requires all students enrolling in a post-secondary educational institution to show evidence of one dose of tetanus and diphtheria (Td) within 10 years of enrollment and one dose of measles, mumps, and rubella vaccine or properly documented exemption. The law applies to persons born in 1957 or later who are enrolled in more than one class. Students who graduated from a Minnesota high school in 1997 or later are also exempt.   Please contact our admissions office for more information on vaccines.

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