Thinking about the stipends not going out - is there a legal time limit for which the students should have gotten them? Do they have any rights to pursue legal action? Can/ will DCEH get fined or accreditation pulled for being almost a month late on stipends? Is it just Argosy? Or are AI and South in on this too?
Straight from the most recent AU catalog online: All student Title IV (federal) financial aid credit balances, if one is created for the payment period in question, will be issued as a stipend to the student no later than fourteen (14) calendar days...
Financial Aid Stipend Return Policy
Excess Title IV (federal) financial aid may be used to cover other education costs for students that approve and submit authorization for the school to use excess Title IV funds. All charges not covered by Title IV funding are the responsibility of the student.
All student Title IV (federal) financial aid credit balances, if one is created for the payment period in question, will be issued as a stipend to the student no later than fourteen (14) calendar days:
After the first day of class; or
The date the Title IV credit balance appears on the student account.
Students receiving federal financial aid who withdraw or drop courses will have any credit balance on their accounts returned to their lenders or to the appropriate financial aid program as required.