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| Rights and Responsibilities of Students receiving Financial Aid |
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Students have the right to know:
- What financial aid programs are available;
- Description of the various programs listed in their financial aid award;
- The deadlines for submitting applications for each of the financial aid programs available;
- How financial aid will be distributed, how decisions on that distribution are made, and the basis for these decisions;
- How their financial need was determined. This includes how costs for tuition and fees, room and board, travel, books and supplies, etc., are considered in their estimated cost of attendance;
- What resources (such as student and parental contribution, other financial aid, etc.) were considered in the calculation of their need;
- How much of their financial need, as determined by the institution, has been met;
- The Federal Return of Title IV funds and the school's refund policy;
- What portion of the financial aid received must be repaid, and what portion is grant aid;
- If the aid they are receiving is a loan, student has the right to know the interest rate on the loan, the total amount that must be repaid, the repayment procedures, the length of time for repayment of the loan, and when repayment begins; and
- How the institution determines whether students are making satisfactory progress, and what happens if they are not.
Students have the responsibility to:
- Complete all application forms accurately and submit them on time to the appropriate office;
- Provide correct information. In most instances, misreporting information on financial aid application forms is a violation of law and may be considered a criminal offense that could result in indictment under the U.S. Criminal Code;
- Submit all additional documentation, corrections, and/or new information requested by either the financial aid office or the agency to which their application was submitted;
- Read and understand all forms that they are asked to sign, and maintain copies for their records;
- Accept responsibility for all agreements that they sign;
- Perform the work that is agreed upon in accepting a Federal Work-Study award;
- Be aware of and comply with the deadlines for application or reapplication for aid;
- Be aware of the Return of Title IV Funds policy and receive sample cases;
- Be aware of the school's refund procedures;
- Complete an Entrance Interview, if first-time borrowers;
- Complete an Exit Interview if they are loan borrowers and are terminating their enrollment or registering as less than a half-time student (at least six credit hours per semester);
- Maintain current and correct addresses with the Registrar; and
- Complete the final registration process at the prescribed time in order to receive their funds on a timely basis.
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