Students who receive financial aid awards have rights to certain information, and responsibilities to fulfill as a student, in order to use and keep their aid.
You have the right to ask a school:
- What financial assistance is available, including information on all federal, state, and school financial aid programs
- What it costs to attend, and what the refund policies are if you drop out
- What the deadlines are for submitting applications for each financial aid program
- What criteria are used to select financial aid recipients
- How your financial need is determined, including how costs for tuition and fees, room and board, transportation, books and supplies, personal and miscellaneous expenses, etc. are considered in your budget
- What resources (such as parental contribution, other financial assistance, your assets, etc.) are considered in the calculation of your need
- How much of your financial need, as determined by the school, has been met
- To explain the various programs in your student aid package. If you believe you have been treated unfairly, you may request reconsideration of the award that was made to you.
- What portion of the financial aid you receive must be repaid, and what portion is grant aid. If the aid is a loan, you have the right to know what the interest rate is, the total amount that must be repaid, the repayment procedures, the length of time you have to repay the loan and when repayment is to begin
- How the school determines whether you are making satisfactory academic progress, and what happens if you are not making satisfactory progress.
It is your responsibility to:
- Review and consider all information about a school's program before you enroll
- Pay special attention to your application for student financial aid, complete it accurately and submit it on time to the right place. Errors may delay your aid and intentionally providing false information is a violation of federal law and is considered a criminal offense subject to penalties
- Respond promptly and return all documentation, verification, corrections and/or new information requested by the financial aid office or by the agency to which you submitted your application
- Read and understand all forms you were asked to sign and keep copies of them
- Accept responsibility for all agreements you sign
- Notify your lender of changes to your name, address or school status, if you have a loan
- Perform all agreed upon work in a satisfactory manner if accepting Federal Work Study
- Know and comply with deadlines when applying or reapplying for financial aid
- Know and comply with the University's refund procedures