NOTICE TO STUDENTS:
CollegeAmerica has been placed on Heightened Cash Monitoring 2 (“HCM2”) status by the U.S. Department of Education. What does this mean? Generally, a school receives advanced payment of financial aid funds once a student completes their paperwork and enrolls in school. Under HCM2, a school no longer receives funds in advance. After the school disburses funds from its own institutional funds, a reimbursement payment request is submitted for those funds to the U.S. Department of Education. The HCM2 status may cause a delay in the disbursement of the funds to the student’s account.