Electing to take on the debt of a student loan is an important decision. Prior to taking out a student loan, students must complete Entrance Counseling. This can be completed in person in the Financial Aid department or online through the U.S. Department of Education’s http://www.studentaid.gov

Upon completing or exiting a program, students must also complete student loan Exit Counseling. This can also be completed in person in the Financial Aid department or online at http://www.studentaid.gov

All Federal financial assistance awarded by the school is disbursed according to Federal regulations.

Financial aid is disbursed based on a payment period as outlined in the student’s contract. Financial aid is first credited to the student’s account balance. Should the amount of the disbursement exceed the balance on the student’s account, the student may be refunded that amount by check. Refund checks may be signed for in person in the Financial Aid office or mailed to the address on file at the school. If the student prefers to leave a credit on the account, they must provide a voluntary authorization to do so. The Financial Aid department can provide the form to authorize the holding of a credit balance. The authorization will show how much the student wishes to hold and for what time period. The student has the right to cancel such authorization at any time.

Refunds will be issued within 30 days of the creation of the credit balance. Checks will be held in the Financial Aid office for 21 days, after which the check will be mailed the address on file. Refund checks are valid for 90 days. Should a check remain uncleared for more than 90 days, that check is considered void. A new check can be reissued at the request of the student up to 180 days after the issuance of the original check. After 180 days, if a check remains uncleared, the unclaimed funds will be returned to the U.S. Department of Education.

Changes made to the FAFSA after enrollment may change student eligibility for federal financial aid. Before making changes to the FAFSA, a student should check with the Financial Aid Office.

Should a student have a change in dependency status during an academic year, updates to their FAFSA may be necessary.

The FAFSA may be updated if:

a) The student acquires a dependent child or children, either through birth, adoption or foster care.

b) The student no longer has custody of a dependent child or children.

c) The student is dependent and both parents pass away during the academic year.

d) The FAFSA may not be updated for dependency status change due to marriage or divorce.

If a student re-enters a program after withdrawing, the student’s dependency status must be updated.

The Department of Education reserves the right to ask for additional information to confirm data provided by the student or the parent on the FAFSA.

The verification process at Zorganics Institute commences upon the selection of a student for verification. Selection can be facilitated either by the Department of Education's central processing system (CPS) or the Office of Financial Aid (OFA). In the event of selection by the CPS, an asterisk will be visible adjacent to the student's expected family contribution (EFC) on the Student Aid Report (SAR). Conversely, if the OFA selects the student, notification will be communicated via email, telephone, or in person.

Students are granted a period of 30 days, commencing from the date of notification or the first day of class (for newly enrolled students), whichever occurs sooner, to submit the requisite documentation. The documentation may comprise recent transcripts for the student and parents (if applicable), a verification worksheet, tax transcripts, W-2 forms, evidence of living arrangements, and additional documents based on the information provided on the FAFSA.

To mitigate delays in processing awards, students should promptly submit the requested information. Failure to furnish the required documents will result in the cancellation of all federal financial aid awards. It is advisable for students to retain copies of the documents submitted to the financial aid office.

In the event that corrections or updates are warranted as an outcome of the verification process, the institute will forward them to the United States Department of Education, and the student will receive a revised SAR. All documents provided by the student will be maintained in their file for auditing purposes. The student's EFC may undergo modifications based on the implemented corrections. In the event of changes to the award attributable to verification, the Office of Financial Aid will communicate such changes to the student in writing.

Students bear the sole responsibility for the accurate and timely completion of all application and processing paperwork. In the absence of receipt of a student's financial aid by Zorganics Institute during the student's enrollment, the student is solely responsible for the payment of all tuition and fees owed to the school.

Fill out a free application for student Aid (FAFSA) at http://www.studentaid.gov

Completing the FAFSA allows the US Department of Education to determine how much you are eligible for as well as the type of financial aid you will receive

1. GRANTS - Does not have to be repaid. ZORGANICS Institute can provide counseling and services towards acquiring from outside sources Please contact the Admissions representative for more details.

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2. PELL GRANTS- granted to students based on financial needs students who are eligible for Pell grants will receive a specific amount for the period they are enrolled in school.

3. LOANS- Have to be repaid.

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4. SCHOLARSHIPS- Don't have to be repaid

LOAN COUNSELING

Prior to loan disbursement, all student loan applicants will be advised of their rights and responsibilities with regard to loans (and other financial aid funds) including but not limited to repayment requirements, sample repayment schedules, repayment options, and default counseling.

Students have the right to:

● Cancel the loan(s).

● Obtain a copy of the Master Promissory Note; this is a legal agreement to repay your loan under the terms stated.

● A notification of loan sale or transfer; your lender must notify you if your loan is sold or transferred to another organization. In the notification, you should have the new organization’s name, address, and contact information.

● Know the cost of the program chosen.

● Understand the criteria ZORGANICS Institute uses to determine financial aid awarded.

● Know the types of financial assistance that are available, including information on all federal, private, and institutional financial aid programs.

● Understand the criteria for meeting Satisfactory Academic Progress and maintaining financial aid eligibility.

• Loan Repayment Requirements

All loans require repayment by the borrower according to the terms of the Master Promissory Note. Repayment options may include deferment and forbearance options. Borrowers should contact their lender as needed.

Additional Financial Assistance Issues

To complete the master promissory note and entrance counseling.

1. Go to studentaid.gov

2. Log in using our FSA ID, the same as your login for FAFSA. If you do not have an FSA ID you can create one here.

3. After you log in, On the left hand side of the screen there will be two separate bars with the titles MASTER PROMISSORY NOTE AND ENTRANCE COUNSELING.

4. Complete both and bring a copy for proof of completion. These must be turned in at your second appointment or before the 1st day of school. You should print out the first page of the MASTER PROMISSORY NOTE, as there are ten pages.

1.MASTER PROMISSORY NOTE. The Master Promissory Note is a legal document which you promise to repay your loans and any accrued interest and fees to the US Department Of Education. It also explains the terms and conditions of the loans. THIS NEEDS TO COMPLETED PRIOR TO YOU BEING IN SCHOOL. IF THIS DOES NOT GET SIGNED, YOU, AS WELL AS ZORGANICS INSTITUTE, CAN NOT RECIEVE LOANS. If a student’s parent is taking out a PARENT LOAN, the parent will need to complete a MPN as well. Using their FSA ID.

2. ENTRANCE COUNSELING: All students taking out Direct Subsidized or Direct Unsubsidized loan or loans:

If you have not previously received subsidized or Unsubsidized loan under the Direct Loan program or a Subsidized or Unsubsidized Stafford loan under the Federal Family Education loan (FFEL) program, you will be required to complete Entrance counseling . THIS NEEDS TO COMPLETED PRIOR TO YOU BEING IN SCHOOL. IF THIS DOES NOT GET SIGNED, YOU, AS WELL AS ZORGANICS INSTITUTE, CAN NOT RECIEVE LOANS. If a student’s parent is taking out a PARENT LOAN, the parent will need to complete a MPN as well. Using their FSA ID.