Financial Aid Consortium Agreement

 

This agreement among the Michigan community college members of the Michigan Community College Virtual Learning Collaborative is to facilitate concurrently enrolled students in their receipt of student financial assistance funds. Federal eligibility regulations (34 CFR & 600.9, April 5, 1988) require this agreement. This consortium agreement will take effect upon the signature of the President or designee of each participating member college and will govern the terms of delivery of student aid funds to students seeking financial assistance. This consortium agreement will be modified as required by any changes to Federal eligibility requirements or regulations or by mutual agreement of the participating member colleges.

Terms and Conditions

The MCCVLC financial aid consortium agreement includes the following provisions:

1. A student seeking financial aid under this agreement must designate the educational credential and program they are seeking, and the institution from which they are seeking the credential. Such an institution shall be the “home” college.
2. The institution providing the instruction shall be the “provider” college.
3. The provider college shall provide timely information on student enrollment, expense budgets, and satisfactory academic progress to the home college.
4. Student Status Confirmation Reporting (SSCR) to the National Student Loan Data System (NSLDS) shall be responsibility of the home college. Enrollment status shall be on the basis of the total credits accepted by the home college in which the student is enrolled at participating institutions. Enrollment information will be exchanged at a time and in a manner agreed upon through the auspices of the Michigan Community College Virtual Learning Collaborative.
5. Required forms for Financial Assistance shall be submitted by students to the home college. The home college shall determine special circumstances and be responsible for professional judgement determinations, and may request the collaboration and assistance of the provider college(s) where appropriate.
6. Materials for required student loan interviews shall be provided by the home college until a common form and procedure can be agreed upon.
7. Satisfactory academic progress standards shall be those of the home college using concurrent credit hours and grade point averages.
8. Institutional refund procedures shall be those of the provider institutions. Federal refunds shall be the responsibility of the home college.
9. Disbursement of aid shall be responsibility of the home college. Aid will be disbursed by semester on the basis of the student's status as of a date designated by the home college.
10. The home college is responsible for verification. Verification policies and procedure shall be those of the home college.

Name: _____________________________ Date: ___________

Title: _____________________________

 

---

Appendix

As of August 11, 1999, this agreement has been accepted and approved by the President or Designee of the following participating Michigan Community College Association member colleges:

This agreement permits students, who are jointly enrolled in courses from the above member colleges, to receive financial aid funds based upon the total enrolled credit hours per term (Home college plus Provider college[s] credit hours of enrollment per term). All students are also required to remain eligible according to any program eligibility criteria established by the appropriate governmental agency, private donor scholarship and the Home college in order to receive these funds.