Financial Aid Rights and Responsibilities

Students have the right to ask a school:

What financial assistance is available, including information on all federal, state and institutional financial aid programs
What the deadlines are for submitting applications for each of the financial aid programs available
What the cost is of attending and what are the policies regarding refunds for students who drop out
What criteria are used to select financial aid recipients
How financial need is determined. This process includes how expenses (i.e., for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous costs) impact your budget.
What resources (e.g., parental contribution, other financial aid, your assets) are considered in the calculation of your need
To explain how much of your financial need, as determined by the institution, 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 which 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 the interest rate, the total amount that must be repaid, the payback procedures, the length of time allowed to repay the loan, and when repayment is to begin.
How the school determines whether you are making satisfactory progress, and what happens if you are not

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 can delay your receiving financial aid. Intentional misreporting of information on application forms for federal financial aid is a violation of law and is considered a criminal offense subject to penalties under the U.S. Criminal Code.
Return all additional documentation, verification, corrections and/or new information requested by either the Financial Aid office or the agency to which you submitted your application
Read and understand all forms that you are asked to sign, and keep copies of them
Accept responsibility for all agreements you sign
Notify the lender immediately of changes in your name, address or school status if you have a student loan
Perform in a satisfactory manner the work that is agreed upon in accepting a federal work-study award
Know and comply with the deadlines for application or reapplication for aid (You must reapply each year)
Know and comply with your school's refund procedures
Notify the Financial Aid office of all financial aid you receive from sources other than the College as soon as you receive it
Know the schedule for the disbursement of your award(s)
Notify the Financial Aid office immediately of changes in name, address or enrollment