Your Rights as an Applicant
You have the right to know:
- Financial aidMoney provided to the student and the family to help them pay for the student's education. Major forms of financial aid include gift aid (grants and scholarships) and self help aid (loans and work). programs available
- Deadlines for submitting applications for each of the programs
- Estimated costs of attending the university
- To what extent your financial needThe difference between the COA and the EFC is the student's financial need - the gap between the cost of attending the school and the student's resources. The financial aid package is based on the amount of financial need. The process of determining a student's need is known as need analysis., as determined by the institution, has been met
- Resources considered in calculating your financial need
- The university's refund/repayment policy
- The portion of financial aid you receive that must be repaid and the portion that is grantA grant is a type of financial aid based on financial need that the student does not have to repay. aid. If the aid is a loanA loan is a type of financial aid that must be repaid, with interest. The Federal Student Loan Program is a good method of financing the costs of your college education. These loans are better than most consumer loans because they have lower interest rates. The Federal Loans and Perkins Loans also provide a variety of deferment options and extended repayment terms., you have the right to know the interest rate, the total amount that must be repaid, the length of time you have to repay the loan and when repayment is to begin.
- The satisfactory academic progressA student must maintain Satisfactory Academic Progress to continue to receive financial aid. Students must maintain a certain qualitative standard (i.e. cumulative GPA) in addition to maintaining a quantitative standard (i.e. successfully completing a required number of credit hours). Students must also complete their degree or certificate program within a maximum timeframe, which may vary according to the student’s status and program. If a student does not maintain the required standards, the student may lose their financial aid eligibility.
requirements for aid recipients
Your Responsibilities as an Applicant
In applying for and accepting financial aid, you accept the responsibility to:
- Complete all application forms accurately and submit them on time to the proper office
- Provide correct information. Purposely misreporting information on financial aid forms is a violation of the law and could result in federal criminal charges.
- Submit all additional documentation, verificationVerification is a review process in which the FAO determines the accuracy of the information provided on the student's financial aid application. During the verification process the student and parent will be required to submit documentation for the amounts listed (or not listed) on the financial aid application. Such documentation may include signed copies of the most recent Federal income tax returns for the student, spouse (if any) and their parents. Financial aid applications are randomly selected by the Federal processor for verification, with most schools verifying at least 1/3 of all applications. Schools may select additional students for verification if they suspect fraud. Some schools undergo 100% verification. If any discrepancies are uncovered during verification, the financial aid office may require additional information to clear up the discrepancies. Such discrepancies may cause a student's final financial aid package to be different from the initial package described on the award letter they received from the school. If the student refuses to submit the above mentioned documentation, the financial aid package will be canceled and no aid will be awarded., corrections and/or new information requested by either the financial aid office or the federal processing agency to which you submitted your application
- Read, understand and keep copies of all forms that you sign
- Abide by all agreements you sign
- Perform the work agreed upon in accepting a Federal Work-StudyThe Federal Work-Study (FWS) program provides undergraduate and graduate students with part-time employment during the school year. The federal government pays a portion of the student's salary, making it cheaper for departments and businesses to hire the student. For this reason, work-study students often find it easier to get a part-time job. Eligibility for FWS is based on need. Money earned from a FWS job is not counted as income for the prior year's need analysis process. Program job
- Report name and school enrollment statusAn indication of whether a student is a full-time or part-time student. Generally, students must be enrolled at least half-time (and in some cases full-time) to qualify for financial aid. changes to the financial aid office and to the lenderA lender is a financial institution that provides funds to the student or parent for an educational loan.(s) of any educational loan you receive
- Report address changes to the registrar's office
- Contact our office to check on your application status if you do not receive information in a timely manner
- Read and understand all information provided here