Financial Aid Policy Statement

Financial Aid – You must be admitted to a program of the Frontier Nursing University as a degree or certificate candidate before you can begin the financial aid process. Then you will need to complete the documents outlined on your letter of acceptance from the Financial Aid Office which are: The Free Application for Federal Student Aid (FAFSA), Program Declaration, Financial Aid Policy Statement, On-line entrance interview, and e-sign Master Promissory Note.
Renewal of financial aid – You must reapply for financial assistance each year such assistance is requested. Renewal of financial assistance is not automatic. You access www.fafsa.ed.gov to fill out your FAFSA application. Financial Aid will not be disbursed until the financial aid office receives all information requested. This includes a completed FAFSA report (ISIR), any missing documentation, and any verification issues that need to be resolved.
Financial Aid Verification Process – The U.S. Department of Education requires that a certain percentage of FAFSA filers be selected for verification. These students are selected by the Central Processing System or the FNU. If a student is selected for verification there are certain financial documents that must be provided to the Financial Aid Office for verification. Required verification items are: Household size, Number in College, Adjusted Gross Income (AGI), U.S. taxes paid, and certain types of untaxed income and benefits. For an explanation of the U.S. Department Verification policy, please contact the Financial Aid Officer.
Changes in finances or extra assistance – Your financial aid award is based upon the information you provided on your application for financial assistance. You are required to notify the school of any change in this information. You are also required to notify the financial aid office of any additional sources of financial assistance (scholarships, grants, loans, etc.) which become available to you. Frontier Nursing University reserves the right to adjust your award if such additional assistance exceeds the amount of financial assistance you are eligible to receive. Frontier Nursing University also reserves the right to adjust your award if changes in the information included in your application for financial aid alters your calculated financial need.
Withdrawals – If you are receiving financial aid and find it necessary to withdraw from the program, you must notify the Registrar and your advisor of your intent to withdraw. Student aid recipients who withdraw from the program may be refunded a portion of their tuition. Refunds are processed based upon the student's effective withdrawal date in relation to the most recent term of enrollment for which the student has paid. The FNU must return all or a portion of your financial aid funds to the sources from which they originated, depending on the date of withdrawal. The Financial Aid Office will notify you of the amount (if any) that will be refunded to the originating source. All Title IV refunds are made according to the federal Department of Education regulations. Your lender will contact you prior to the 6 months before your first payment should begin, starting with either your withdrawal or graduation date.
Satisfactory Academic Progress (SAP) – In order to continue receiving financial aid each term you must meet the criteria for Satisfactory Academic Progress. This is 3 hours each term if part-time and 5 hours each term if full time. See catalog for full detail.
Changes in personal information – Please notify the Financial Aid Office at FNU, 170 Prosperous Place, Lexington, KY 40509 of any change in name, address, or anticipated graduation date. Updates to address or name changes need to be made directly to the Banyan tree under student directory.
Loan disbursements – Loan funds are disbursed electronically to student accounts within the first 3 weeks of each term. If you have met federal requirements and FNU’s SAP policy you will receive your tuition payment and residual in a timely manner. Please review your award letter and loan disclosure and disbursement statement to summarize dates and amounts of loans.
Lack of Satisfactory Academic Progress (SAP) – In order to receive federal funds students must meet SAP. Failure to meet SAP for 2 consecutive terms will result in the loss of financial aid eligibility. Please see the Catalog for more detailed information regarding Financial Aid Policies and maintaining satisfactory progress. Loans cannot be certified after your graduation date.
Transfer between full-time and part-time options – Students have the opportunity to transfer between full-time and part-time once during their program. See the FNU catalog for the policy and procedure for these transfers. If you transfer between full-time and par-time options, your financial aid package may have to be recalculated and your subsidized Stafford loan may be adjusted.
Interest Rates – The Direct Stafford Loans currently have a fixed 6.8 percent interest rate.
Know your program cost and financial aid available – Before you start your program please check the cost of the program and the amount of financial aid that can be offered. The catalog has the cost of each program and the payments due by terms. Currently students are eligible for up to $20,500.00 in Direct Stafford loans per year and can possibly borrow additional Grad PLUS loans. When borrowing keep in mind the total amount of loan repayment you must make when upon graduation. All loans borrowed have to be repaid within 10 years of when students graduate or cease to be a student at FNU. Remember to borrow wisely, but also realize this program should be an investment in your future.
How to apply for scholarships – Scholarships are offered in the Spring and Fall terms. You will receive an email notifying you of the scholarship details. Most scholarships are not need based and we encourage all students to apply for scholarships as they are announced if needed. Any scholarships received should reduce the total loan debt.

Please feel free e-mail the Financial Aid Office or call 859-253-3637 Extension 5016 or 5017 if you have questions about the financial aid procedures.