Bookstore Purchase Policy with Financial Aid Line of Credit (Effective July 23, 2012)
To better serve the students, Ivy Tech North Central is limiting what can be purchased with the line of credit extended by the College. Ivy Tech Community College allows a student a $1,500 maximum line of credit in the Follett Bookstore based on the amount of Financial Aid available after Tuition and Fees. Nursing, Practical Nursing and Dental Hygiene majors’ maximum line of credit per College policy is $2000 after Tuition and Fees.
This new policy also limits the purchase of a computer or tablet and printer to one (1) every 3 years with the Financial Aid line of credit. Students who want to purchase a computer or tablet and printer with their Financial Aid line of credit must complete the Computer Request Form prior to purchase for approval by the Bursar Office. The approved form will be presented to the Bookstore at the time of purchase.
This new policy is designed to help ensure students have the textbooks and supplies they need to be successful. Students should always keep in mind that they are responsible for their Financial Aid and the spending of it. This policy does not preclude students from purchasing any of these items after they receive their Financial Aid refund.
Unallowable Purchases with Student Financial Aid line of credit at the Follett Bookstore are as follows:
- Candy, food and beverages
- Gaming systems, games or accessories
- Cell phones
- Phone cards, Xbox Live membership cards or other prepaid cards
- DVD movies
Any purchase exceptions or increases in the line of credit must be initiated with the Bursar Office for approval by the Executive Director of Finance.
Bookstore Purchase Policy with Student House Account
Allowable purchases with Student House Account line of credit at the Follett Bookstore are as follows:
Q: What is the purpose of the Financial Aid line of credit?
A: In order for students to purchase their necessary textbooks and supplies, Ivy Tech extends this line of credit to students with Financial Aid.
Q: What are my obligations if I choose to use the line of credit available to me in the bookstore?
A: Any changes in your enrollment status can affect your Financial Aid eligibility. If you drop/fail a course, it may negatively affect the amount of Financial Aid you are eligible to receive. In these cases, you will need to pay back any balances to the Bursar Office that are due on your account, which includes anything purchased with your Financial Aid line of credit.
Q: I noticed I only have $1,500 available to me in the bookstore, but my Financial Aid less my tuition is actually much more than that. What is going on?
A: Ivy Tech Community College has set the maximum bookstore line of credit for Financial Aid at $1,500 per semester, effective July 23, 2012. Nursing, Practical Nursing and Dental Hygiene majors have a maximum line of credit of $2,000 per semester.
Q: Why is Ivy Tech North Central limiting me to purchasing 1 computer or tablet and 1 printer with my Financial Aid?
A: Ivy Tech North Central is not limiting your actual purchases with your Financial Aid. It is only limiting your purchasing on the line of credit that it offers you before the excess Financial Aid is refunded to you. Once you receive your refund, it is yours to spend at your own discretion.
Q: What do I need to do to get this approval?
A: See Student Instructions
Q: What if something happens to my computer within the three year period after my approved computer purchase?
A: You can either apply for an appeal under these extenuating circumstances or wait until you receive your refund to then make your purchase.
Q: How long does the approval process take?
A: The approval process should take just a few minutes after which you will be able to proceed to the bookstore to make your purchases.
Q: How long does the appeal process take?
A: The appeal process may take up to 24 hours, as the Executive Director of Finance needs to sign the approval.
Q: I still have questions, who can answer them?
A: Please bring any additional questions you have to the Bursar Office at your location or e-mail the Bursar, Brooke Lichtenbarger, at firstname.lastname@example.org.