Financial aid disclosures
Geisinger Lewistown Hospital School of Nursing (SON) financial aid office will communicate with students via email. It is important that you notify the financial aid office of any change to your email address.
Student code of conduct
SON is committed to providing students and their families with the best information and processing alternatives available regarding student borrowing. In support of this and in an effort to rule out any perceived or actual conflict of interest between SON officers, employees or agents and education loan lenders, SON has adopted the following:
- SON does not participate in any revenue-sharing arrangements with any lender.
- SON does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any gifts of greater than a nominal value from any lender, guarantor or servicer.
- SON does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any fee, payment or other financial benefit (including a stock purchase option) from a lender or affiliate of a lender as compensation for any type of consulting arrangement or contract to provide services to a lender or on behalf of a lender relating to education loans.
- SON does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any thing of value from a lender, guarantor, or group of lenders and/or guarantors in exchange for service on an advisory board, commission or other group established by such a lender, guarantor group of lenders and/or guarantors. The School of Nursing does allow for the reasonable reimbursement of expenses associated with participation in such boards, commissions or groups by lenders, guarantors, or groups of lenders and/or guarantors.
- SON does not assign a lender to any first-time borrower through financial aid packaging or any other means.
- SON recognizes that a borrower has the right to choose any lender from which to borrow to finance his/her education. The School of Nursing will not refuse to certify or otherwise deny or delay certification of a loan based on the borrower’s selection of a lender and/or guarantor.
- SON will not request or accept any offer of funds to be used for private education loans to students from any lender in exchange for providing the lender with a specified number or volume of Title IV loans, or a preferred lender arrangement for Title IV loans
- SON will not request or accept any assistance with call center or financial aid office staffing.
Loan repayment and default management
SON is committed to informing all students about default and debt management. Many students rely on student loans to assist them with their educational costs. Students need to carefully consider the amount of debt they will incur during their academic career. Borrowing loans to pay for college has long-term financial implications. Like any other debt, a student loan is a serious financial obligation that must be repaid. In addition to the principal amount you borrow, you will be charged interest. Failure to make on-time monthly payments may affect your credit rating and your ability to borrow in the future.
Default and debt Management education must start in your first year at SON and extend through graduation. It is easy to borrow, but repayment can be difficult. SON strives to educate students on sensible student loan borrowing. Understanding and minimizing your indebtedness will benefit you after graduation. Timely repayment of your student loan will ensure that future students will be eligible for the same benefits of financial aid that you have. A loan repayment calculator can be found on www.studentloans.gov.
Consider the following when planning how much to borrow
- Amount: Think about how much you need to borrow. You may not want to borrow the full amount for which you are eligible.
- Number of loans: Your total indebtedness will be affected if you decide to continue your education after you graduate from SON.
- Loan limits: Most student loan programs specify minimum and maximum amounts you can borrow.
- Length of repayment period: You will save interest costs if you choose a shorter repayment period.
- Minimum monthly payments: Monthly payments will depend on the amount you borrow and the repayment plan you select.
- Borrowers rights and responsibilities: Be sure you understand your rights and responsibilities under each loan program – be sure to keep all financial aid paperwork.
Responsible student loan borrowing will help you
- Establish credit
- Secure future loan borrowing for homes, cars and graduate school
- Obtain credits cards
Several repayment options are available to you
- Deferment: Occurs when a borrower is allowed to postpone repaying the loan
- Forbearance: Occurs when the lender allows the borrower to temporarily postpone repaying the principal, but the interest charges continue to accrue
- Consolidation: A loan that combines several student loans into one bigger loan from a single lender
- Loan forgiveness: Under certain circumstances, the federal government will cancel all or If you neglect your student loan responsibility, you may face serious consequences and the following steps may be taken to recover the outstanding balance due:
- The Department of the Treasury may offset your federal and/or state tax refunds and any other payments, as authorized by law, to repay your defaulted loan.
- You may have to pay additional collection costs.
- You may be subject to Administrative Wage Garnishment - this is where the Department of Education will require your employer to forward 15% of your disposable pay toward repayment of your loan.
- The Department of Education may take legal action to force you to repay the loan.
- Credit bureaus may be notified and your credit rating will suffer.
Should your student loan go into default, there is help for you: To determine your eligibility for the Default Rehabilitation Program and to establish a monthly repayment plan, contact your loan servicer. The Default Rehabilitation Program allows defaulted student loan borrowers who have established satisfactory repayment a Student Loan Borrowers Rights and Responsibilities.
As a student loan borrower, you have many rights and responsibilities. You should be informed about all aspects of your student loans, including: loan balances, repayment options, fees, grace periods, interest rates, an explanation of default and its consequences, consolidation and much more. As a student loan borrower, you are borrowing money and agreeing to pay it back. You are also bound by many important responsibilities during the life of the loan. If you do not repay your loan on time or according to the terms in your promissory note, you may go into default. Default has serious consequences and will affect your credit rating.
Students have the right to the following
- Written information on your loan obligations and information on your rights and responsibilities as a student loan borrower
- A grace period and an explanation of what this means
- A disclosure statement - received before you begin to repay your loan (this should include information about your interest rate, associated fees, the balance that you owe and the calculated number of payments during your repayment period)
- Information on deferment and forbearance options
- Information on prepayment of your student loan
- A copy of your MPN (this is the legally binding paperwork necessary to obtain a loan)
- Documentation that your student loan is paid in full
Students are responsible for
- Completing entrance counseling before your loan is disbursed to SON (first time borrowers only)
- Completing exit counseling before you graduate, leave school or drop below half-time enrollment status
- Repaying your student loan even if you do not complete your academic program, you are dissatisfied with your education or if you are unable to find employment after you graduate
You must notify SON and your student loan lender if you
- Change your address
- Change your name
- Withdraw from school or drop below half time enrollment
- Transfer to another school
- Fail to enroll or re-enroll in school for the period for which the loan was intended
- Change your expected graduation date or graduate
To remove the defaulted status completely
- You must make monthly payments on your loan after your grace period ends (unless you request and are approved for a deferment or forbearance).
- You must notify your lender of anything that might alter your eligibility for an existing deferment or forbearance.
- Additional information on this is available online at:
Students rights and responsibilities
The receipt of financial aid is a privilege, which creates both rights and responsibilities.
As a student receiving financial aid at SON, you have the following rights:
- Students have the right to know the method used to determine their need.
- Students have the right to be awarded financial aid in an equitable manner (as funds permit).
- You may decline all or any part of your financial aid awards (this must be done in writing).
- You may be able to return loan proceeds within 14 days of the date of disbursement.
- You will be notified in writing of any changes made to your financial aid eligibility and/or your awards.
- You may request a review of your financial aid application due to special or unusual circumstances (all requests must be submitted in writing).
- Students have the right to contact the Federal Student Financial Aid Ombudsman to resolve issues related to student loans. The Federal Ombudsman phone number is 1-877-557-2575.
Campus crime and security
SON is protected under Geisinger Lewistown Hospital Security. Geisinger Lewistown Hospital has a complete emergency conduct plan in place for various emergency situations. See the Cleary Act Report on the student resources page for more information on campus security.