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Registered students who have received award letters will find the awarded aid amount on the Statement of Account or on their account on the Web. If it does not appear, or the amount differs from the award letter, the student must contact the Financial Aid Office at (201) 684-7549. Otherwise, payment will be expected in the amount due on the bill by priority registration payment deadline. Failure to do so will result in forfeiture of reserved seats and loss of housing and meal plan, if applicable. If the total awarded amount meets or exceeds the total charges, no payment need be made to the College. If the total charges are greater than the total awarded amount, the balance due must be paid either by check, money order, credit card, or MAC bank debit card (see payment information).
Financial aid recipients are liable for the amount that is not covered by their aid package and will be subject to deregistration if payment is not received by the payment deadline. If financial assistance for any reason is reduced or cancelled, the student will be held responsible for the entire outstanding balance. Regular payment College policies will then apply.
Federal Loans
Ramapo College participates in the Federal Direct Student Loan Program (FDSLP). Under the FDSLP, Stafford Loan, and PLUS loan, capital is provided directly to the student and parent borrowers by the Federal government rather than through private lenders. Loan proceeds will be applied directly to a recipient's account once a promissory note had been signed. The Bursars Office will notify the student by mail when their account has been credited. If a promissory note is not signed, the student's account will not be credited. As a result, the account may be delinquent and subject to deregistration.
New Jersey CLASS Student Loan (NJC)
The trustee bank will issue an electronic funds transfer (EFT) for all NJC Loan proceeds, less the prevailing processing fee rate, to the Colleges bank account for both student and parent loans. In turn, the College will credit each students account for the net amount of the loan.
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