Financial Aid

Federal Financial Aid (School Code 034555)

The U.S. Government offers a number of grant and loan programs to help eligible students finance college. Federal student aid covers expenses such as tuition and fees, room and board, books and supplies, and transportation.  This aid may also assist you in paying for a computer or dependent care.

Grants do not have to be repaid as long as you meet specified requirements. Federal student loans offer funds at a reduced interest rate or with deferred payment. They are borrowed funds that must be repaid.

Eligibility is determined by the federal government and is based on financial need as well as a number of other factors. Click here for more information about eligibility.

National Labor College (NLC) participates in the following programs:

• Federal Grants
  • Pell Grant
  • FSEOG

• Federal Loans
  • Direct Loans

 

Applying for Federal Financial Aid

Fully admitted NLC degree students may apply for federal student aid through our Virtual Financial Aid Office (VFAO).  You must be enrolled in a minimum of six credit hours and these courses must span the length of an academic term.  The College provides a simple and convenient online application process for completing your financial aid paperwork. The online application process includes all required financial aid forms, options for electronically signing your applications and links to complete the FAFSA (Free Application for Federal Student Aid) and Master Promissory Note. Your application will be reviewed to determine whether you are eligible for funding and your level of need. Based on this information, NLC will determine which grants and loans you may receive.

In order to be eligible for tuition deferment, 100 percent of your annual tuition must be funded through federal financial aid, and you must meet the following conditions:

• Submit a completed, locked Student Interview through the VFAO (including all required paperwork and related documentation)
• Pay all applicable fees not covered by federal aid (i.e. application fee)

In order to continue tuition deferment beyond your first course, you must provide NLC all documents required to complete the certification of federal financial aid funds. If you do not submit these documents, or if you are unable to qualify for federal financial aid, you will be immediately responsible for any outstanding balances incurred.

You must reapply for funding every academic year under this financing option. You should complete the reapplication process at least 60 days before the end of your academic year. It is critical that you reapply for future loans or grants early to ensure that your educational program is not interrupted. If you do not reapply for financial aid in a timely manner, you will no longer qualify for tuition deferment.

NLC is a Direct Loans school. However, we will process loan applications with any lender who participates in the Title IV Federal Loan Programs.

If you require additional information or assistance, please contact Student Financial Services.

Important Information About Student Loans

All student loans, whether Direct loans or private loans, must be repaid. In addition, once you have borrowed loan funds, there are some important things for you to keep in mind:

• When you borrow federal student loan funds you are agreeing to pay back the amount you borrow (loan principal) and any accumulated interest.
• The first payment will be due six months after you graduate, enroll less than half-time, or withdraw from school.
• If you have trouble repaying your federal student loan, for reasons such as low income, loss of job, etc. you may be eligible for a period of deferment or forbearance, during which no principal payments are due. In certain cases, the interest will accrue and capitalize, in others the interest will be paid by the Federal Government.
• Default occurs if you fail to make a payment on your Direct student loan for 270 days if you repay monthly (or 330 days if your payments are due less frequently). If you default, you may be turned over to a collection agency and reported to a credit bureau, potentially impairing your ability to apply for credit and preventing you from obtaining future student aid. In addition, the entire loan balance will become due immediately and any future income tax refund may be withheld to satisfy the debt to the government.

Student Loan Code of Conduct

On August 14, 2008, the Higher Education Opportunity Act was signed into law. In order to comply with this Act and all federal and state law and standards, the National Labor College has prepared this Student Loan Code of Conduct. In the interest of providing students and families with full, fair, and effective information and assistance pertaining to student loans,  National Labor College (NLC) and its officers, employees, and agents (hereinafter “personnel”) shall comply with the following standards in all aspects of student loan operations.

1. Revenue Sharing Restrictions
NLC and its personnel may not receive anything of value from any lending institution in exchange for any advantage sought by the lending institution. Lenders are not permitted to pay a fee or provide other material benefit in order to be included in NLC’s preferred lender list.

2. Gift Restrictions
NLC personnel who are employed in the financial aid office or who otherwise have responsibilities with respect to student loans may not solicit or accept any gratuity, favor, discount, entertainment, hospitality, loan, or other item of more than nominal value from any lending institution. This includes gifts of services, transportation, lodging, or meals, whether provided in kind, by reimbursement, or by other means. It does not include such items as food, refreshments, training, or informational material furnished as part of professional development activities, or philanthropic contributions to the college that are unrelated to education loans.

The same restriction applies to a family member of NLC personnel, or to any other individual based on that individual’s relationship with personnel, if the gift is given with the knowledge and consent of the personnel, and the personnel has reason to believe the gift was given because of the official position of the personnel.

3. Contracting Restrictions
NLC personnel who are employed in the financial aid office or who otherwise have responsibilities with respect to student loans shall not accept from any lender or affiliate any fee, payment, or other financial benefit as compensation for any type of consulting arrangement or other contract to provide services relating to education loans.

4. Loan Assignment and Certification Restrictions
NLC and its personnel shall not assign, through award packaging or other means, a first-time borrower’s loan to a particular lender, nor refuse to certify or delay certification of any loan based on the borrower’s selection of a particular lender or guaranty agency.

5. Prohibition on Offers of Funds for Private Loans
NLC and its personnel shall not request or accept from any lender any offer of funds to be used for private education loans in exchange for NLC providing concessions or promises to provide the lender with a specified number of loans made, insured, or guaranteed; a specified loan volume; or a preferred lender arrangement.

6. Staffing Assistance Restrictions
NLC and its personnel shall not request or accept from any lender any assistance with call center staffing or financial aid staffing. No employee or agent of a lender may be employed by NLC’s financial aid office, nor may such employees or agents identify themselves to students as NLC employees. This does not prohibit NLC from requesting or accepting professional development training for financial aid employees, written materials to inform borrowers (provided that such materials disclose the identification of any lender involved in their preparation), or services on a short-term, non-recurring basis to assist the college with financial aid-related operations during declared local, state, or federal emergencies.

7. Advisory Board Compensation Rules
NLC personnel who are employed in the financial aid office or otherwise have responsibilities with respect to student financial aid may serve on an advisory board, commission, or group established by lenders or guarantors. However, such personnel are prohibited from receiving anything of value from the lenders or guarantors for such service, other than reimbursement for reasonable expenses incurred in providing such service.

8. Preferred Lender List Restrictions
NLC preferred lender lists are based solely on the best interests of the students and families who may use the list, without regard to financial interests of the college. On all lists, the college will clearly and fully disclose the criteria and process used to select preferred lenders. Students will be told that that they have the right and ability to select the lender of their choice regardless of the preferred lender lists.

9. Loan Resale Disclosure
NLC will not permit a lender to appear on a preferred lender list unless the lender agrees to disclose to the student at the time of the loan any pre-existing agreement to sell the loan to another lender.

 

Additional Information about Student Loans

• The National Labor College does not designate preferred lenders for private student loans.  If any student seeks to obtain a private loan from a financial institution of their choosing, the Office of Financial Aid will cooperate in providing the appropriate certification and other required documentation.

• Any NLC student who receives Title IV financial aid is required to undergo entrance and exit counseling.

Ordering Books Through MBS Direct

Based on your estimated federal loan and/or grant funding, and your request, National Labor College will issue term specific book vouchers.  This will allow you to independently contact MBS Direct and place an order using funds already specified on your behalf.

Veteran’s Benefits

The College is pleased to participate in the Veteran's benefits program. Interested students should contact the Veterans Administration for more information at www.gibill.va.gov/education/benefits.htm.

Scholarships

A detailed list of scholarships is available online to all students. If you wish to apply for a scholarship from NLC, you must complete the Scholarship Request Form. The completion of the Free Application for Federal Student Aid (FAFSA) is also required to be considered for any financial assistance. Some scholarships also require separate application forms. Scholarships are awarded based on student need and other eligibility factors.

Assistance is available for students completing financial/scholarship applications. Applications must be submitted 30-days prior to the start of each term. You may e-mail Ashe Morris in the Office of Student Financial Services or call her at 301-431-5404.

Union Plus National Labor College Scholarship

Union Privilege is the largest contributor to the Union Plus National Labor College Scholarship, administered by NLC. Each year a total of $25,000 is awarded to eligible students attending the National Labor College program. Note that the Union Plus National Labor College Scholarship applies only to dues-paying union members or staff employees of an AFL-CIO affiliated organization interested in enrolling in the National Labor College.

The AFL-CIO created Union Privilege in 1986 to provide union members and their families with valuable consumer benefits.  In addition, Union Privilege offers a full array of educational services - from scholarships and loans to financial planning tools for college.  For more information visit Union Plus Education Services or call 1-877-881-1022.

AETNA Minority Healthcare Scholarships

The AETNA Healthcare Scholarships is for Women and People of Color, who are union members. It is for eligible candidates who wish to take any of our health care courses, such as Health Care Reform. E-mail Ashe Morris or call 301-431-5404 for more information.