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Financial Aid Policies & Procedures

  • Student with Financial Aid packet

Financial Aid Handbook

The Financial Aid Handbook includes information on Financial Aid programs, application, student rights and responsibilities, cost of attendance, policies and helpful resources.

Satisfactory Academic Progress

Federal regulations require that a student receiving federal financial aid make satisfactory academic progress in accordance with the standards set by NOVA and the federal government.

Awards, Adjustments, Disbursements, & Refunds

Prior to the term census, financial aid awards are based on anticipated full-time enrollment. Awards are typically adjusted within 2-3 weeks after the term census for students enrolled in less than 12 eligible credits and then disbursed for students who have attended at least 6 eligible credits past the session census. Refunds for any excess aid are generally received 1-2 weeks after aid disburses to a student's account, depending on the refund preference selected.

Impact of Dropping, Withdrawing, Auditing, or Not Attending a Course

Always contact the Financial Aid Office before dropping, withdrawing, auditing, or deciding not to attend a course to confirm how it will affect your financial aid.

Educational Tax Credits

You or your parents may be able to claim tax credits toward the tuition paid for your post secondary education. Tax credits reduce the amount of tax you or your parents owe.

Fraud & Identity Theft

NOVA’s Financial Aid Office is working to prevent program abuse and to increase college-wide awareness on protecting your personal information.

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