Consumer Information

Student’s Rights and Responsibilities

You have the right to know:

  • What financial aid programs are available
  • The priority dates for submitting applications for each of the programs
  • How financial aid will be distributed
  • Costs of attending the University
  • How your cost of attendance is determined and how it affects your financial aid
  • What resources were considered in the calculation of your “financial need”
  • The University’s refund policy
  • What portion of the financial aid you receive must be repaid and what portion is “gift aid”
  • How much of your financial need has been met
  • Details on the programs offered in your financial aid packages.  If a loan is offered, 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, when repayment is due to begin, and any deferment, forbearance or cancellation provisions.
  • The Satisfactory Progress policy for financial aid recipients and the appeal process.

In accepting financial aid, you accept the responsibility to:

  • Review and consider all information about the University’s financial aid programs before you enroll
  • Complete all applications and forms accurately and submit them on time to the proper office
  • Provide correct information (Errors can delay your receiving financial aid. Misreporting information on financial aid forms is a violation of law and is considered a criminal offense subject to penalties under the U.S. Criminal Code.)
  • Provide all additional documentation, verification, corrections and/or new information requested by either the Office of Financial Aid 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 agreements you sign
  • If you have a loan, notify your lender of changes in your name, address, or school enrollment status
  • Complete Exit Interview(s) for Stafford Loans and Perkins Loans before ceasing attendance at the University
  • Perform in a satisfactory manner the work that is agreed upon in the Federal Work-Study job
  • Know and comply with the priority dates for application or reapplication for aid
  • Understand the University’s refund policy
  • Report any funds that you receive from “outside sources” (church, foundations, veteran’s assistance after your financial aid award has been made and/or accepted
  • Pay any fees, tuition, room, board, or other expenses not paid by financial aid or scholarships by deadlines.

Treatment of Title IV Aid When a Student Withdraws

The law specifies how your school must determine the amount of Title IV program assistance that you earn if you withdraw from school. The Title IV programs that are covered by this law are: Federal Pell Grants, Iraq and Afghanistan Service Grants, TEACH Grants, Stafford Loans, PLUS Loans, Federal Supple¬mental Educational Opportunity Grants (FSEOGs) and Federal Perkins Loans.

When you withdraw during your payment period or period of enrollment (your school can define these for you and tell you which one applies), the amount of Title IV program assistance that you have earned up to that point is determined by a specific formula. If you received (or your school or parent received on your behalf) less assistance than the amount that you earned, you may be able to receive those additional funds. If you received more assistance than you earned, the excess funds must be re¬turned by the school and/or you.

The amount of assistance that you have earned is determined on a pro rata basis. For example, if you completed 30% of your payment period or period of enrollment, you earn 30% of the assistance you were originally scheduled to receive. Once you have completed more than 60% of the payment period or period of enrollment, you earn all the assistance that you were scheduled to receive for that period.

If you did not receive all of the funds that you earned, you may be due a Post-withdrawal disburse¬ment. If your Post-withdrawal disbursement includes loan funds, your school must get your permission before it can disburse them. You may choose to decline some or all of the loan funds so that you don’t incur additional debt. Your school may automatically use all or a portion of your Post-withdrawal dis¬bursement of grant funds for tuition, fees, and room and board charges (as contracted with the school). The school needs your permission to use the Post-withdrawal grant disbursement for all other school charges. If you do not give your permission (some schools ask for this when you enroll), you will be offered the funds. However, it may be in your best interest to allow the school to keep the funds to reduce your debt at the school.

There are some Title IV funds that you were scheduled to receive that cannot be disbursed to you once you withdraw because of other eligibility requirements. For example, if you are a first-time, first-year undergraduate student and you have not completed the first 30 days of your program before you withdraw, you will not receive any Direct Loan funds that you would have received had you remained enrolled past the 30th day.

If you receive (or your school or parent receive on your behalf) excess Title IV program funds that must be returned, your school must return a portion of the excess equal to the lesser of:
1. your institutional charges multiplied by the unearned percentage of your funds, or
2. the entire amount of excess funds.
The school must return this amount even if it didn’t keep this amount of your Title IV program funds. If your school is not required to return all of the excess funds, you must return the remaining amount.

If you receive (or your school or parent receive on your behalf) excess Title IV program funds that must be returned, your school must return a portion of the excess equal to the lesser of:
1. your institutional charges multiplied by the unearned percentage of your funds, or
2. the entire amount of excess funds.

The school must return this amount even if it didn’t keep this amount of your Title IV program funds.
Any loan funds that you must return, you (or your parent for a PLUS Loan) repay in accordance with the terms of the promissory note. That is, you make scheduled payments to the holder of the loan over a period of time.

Any amount of unearned grant funds that you must return is called an overpayment. The maximum amount of a grant overpayment that you must repay is half of the grant funds you received or were scheduled to receive. You do not have to repay a grant overpayment if the original amount of the over¬payment is $50 or less. You must make arrangements with your school or the Department of Education to return the unearned grant funds.

The requirements for Title IV program funds when you withdraw are separate from any refund policy that your school may have. Therefore, you may still owe funds to the school to cover unpaid institutional charges. Your school may also charge you for any Title IV program funds that the school was required to return. If you don’t already know what your school’s refund policy is, you can ask your school for a copy. Your school can also provide you with the requirements and procedures for officially withdrawing from school.

If you have questions about your Title IV program funds, you can call the Federal Student Aid Infor¬mation Center at 1-800-4-FEDAID (1-800-433-3243). TTY users may call 1-800-730-8913. Information is also available on Student Aid on the Web at www.studentaid.ed.gov.

2014-2015 Financial Aid Booklet
Funding Your Education: The Guide to Federal Student Aid
Student Body Diversity Based on Gender and Ethnicity