How can I apply?
All U.S. students should begin to apply for the student loan during the process of applying to the college. Financial Aid packets are included with the Application Packet. Students will need to complete this process on an annual basis.
STEPS:
Students will need to complete a financial aid form.
Consult with the Financial Aid department.
Students electing not to receive an AZBCS subsidized loan will need to select a lender who will service and disburse their loan to complete their studies. (We do not recommend any preferred lenders, however we would strongly recommend checking your lender for full references and payback terms and interest.)
Once decided on your lender or AZBCS payment plan, please notify the financial aid office.
Private Loans
These are loans offered by lenders to offer top up support and are not connected to the College. Available to all qualifying students, although some students may require a co-signer. The loans are mainly based on credit history and therefore interest rates can vary. Each lender would provide a different type of private loan. (see below for lenders - we do not recommend any preferred lenders, but only provide a list)
When will private loans be disbursed?The first disbursements of any loan will be available to collect from the College once you have enrolled for the start of relevant academic year. The subsequent installment of loans would be available at the start of the subsequent term or semester.
Smart Option Student Loan- A private, credit-based loan for undergraduate and graduate students. This loan helps fund education expenses not already covered by other loans. Designed to reduce the overall loan costs and help shorten the amount of time it takes to pay off the loan, the Smart Option Student Loan features interest-only payments while in school and repayment terms based upon the cumulative outstanding private student loan balances and the borrower’s academic grade level.
Satisfactory Academic Progress
All students applying for or receiving an AZBCS subsidized loan must progress satisfactorily towards completion of a chosen academic program in order to remain eligible to receive continued loan support.
The guidelines below have been established to encourage students to successfully complete the academic program they attend and continue to receive AZBCS financial aid.
A student:
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Should not be absent for more than a 10% time frame for the course and must remain at least half time
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Should pass the course/modules with a minimum of grade C+ (2.5) to confirm they are making satisfactory progression.
The satisfactory progression to retain financial aid is entirely separate from the academic requirements to remain on the course and does not guarantee the outcome of the student's course. Satisfactory academic progress will be checked before any financial aid is released to a student. To continue with financial aid, students must be current with their monthly payments. Payments are due during the first 10 days of the month and payments made after 10 days are considered late and will be assessed a $20.00 late fee.
Financial Aid Probation and/or suspension
Should a student not meet the above mentioned procedures for Satisfactory Academic Progression, the College has agreed to place students on probation for the following term, if the student does not achieve satisfactory progress within the allotted timeframe, the student may lose their entitlement to financial aid.
Tuition Refund Policy
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Acceptance to the College means that the student is liable for full tuition for each semester.
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If a student withdraws from the course for any reason the remaining portion of unpaid tuition for the semester become immediately due for repayment.
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If a student does not reach the standard of work required and is asked to leave, the remaining portion of the tuition for the semester will not be canceled.
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In the event of a student being expelled from the course, tuition paid is not refundable.
The following is an addendum for students who are utilizing AZBCS financial aid.
Early withdraw refund calculations apply for any student who withdraws within of the first three weeks of a course. If a student withdraws after completing four weeks (30 days) of a semester, the College will not refund any amount of funds, based on the student's period of attendance for that specific term. The last date of attendance will be the date confirmed by the program office and cannot be altered.
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