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Education after high school requires time, money and effort. It is a big
investment. As a student and consumer you should carefully evaluate all
education or training options. To help make a good choice, you should have
information about a school’s academic program, facilities, graduation rates,
full cost of attendance, refund policy, financial aid programs, and other
information you think will help in making a decision. Get good answers before
making a commitment.
As a financial aid recipient, it is your right to ask:
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What it costs to attend, and what the policy on refunds is for students who
drop out.
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How the school determines whether students are making satisfactory academic
progress and what happens if they are not.
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What financial help is available, including information on all federal,
state, and school financial aid programs.
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About the deadlines for submitting applications for each of the financial
aid programs available and what criteria is used to select financial aid
recipients.
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How individual financial need is determined. This process includes how costs
for tuition and fees, room and board, transportation, books and supplies,
personal and miscellaneous expenses, etc., are considered in your budget.
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What resources (such as parental contribution, other financial aid, personal
assets, etc.) are considered in the need calculation, and how much of your
financial need, as determined by the school, is met.
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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.
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How much of your financial aid must be repaid, and what portion is grant
aid. You have the right to know what the student loan interest rate is, the
total amount that must be repaid, payback procedures, when repayment is to
begin and how long you have to repay.
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How to apply for additional aid if your financial circumstances change.
As a financial aid recipient, it is your responsibility to:
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Review and consider all information about a school’s program before
enrolling.
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Complete the financial aid application accurately and submit it on time to
the appropriate processor. Errors delay the processing of your financial aid
application. Intentional misrepresentation on an application for federal
financial aid is a violation of law and a criminal offense subject to
penalties.
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Respond promptly and return all requested additional documentation,
verification, corrections, and/or new information to the appropriate agency.
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Read, understand and keep copies of all forms and agreements that you sign.
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If you have a loan, notify the school and lender of changes in your name,
permanent mailing address, marital, or enrollment status.
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Perform in a satisfactory manner the work that is agreed upon in accepting a
work-study award.
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Know and comply with the deadlines for application or reapplication for aid,
and with the school’s refund procedures.
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Maintain satisfactory academic progress according to the school’s policies
and standards.
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Report the receipt of any scholarships or outside resources to the financial
aid office.
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