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    University of Virginia
   
 
  Nov 18, 2017
 
 
    
Undergraduate Record 2008-2009 [ARCHIVED RECORD]

Financial Aid


Financial Aid

Click on a link to be taken to the entry below.

   

 


General Information

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The purpose of student financial aid at the University of Virginia is to provide funds for students who cannot attend the University without financial assistance. Except for Athletic Grants-in-Aid, non-need-based loan programs, and a limited number of special scholarships, students must demonstrate financial need to receive assistance.

Estimated Costs The estimated average costs (excluding travel expenses) for an undergraduate student at the University of Virginia for the academic year are:

2008- 2009 Virginian Non-Virginian
Tuition and Fees $9,300 $29,600
Books and Supplies $1,150 $1,150
Room and Board $7,709 $7,709
Personal Expenses $2,139 $2,139+travel
  $20,746 $41,046+travel

Note: For fall semester only, all first year and transfer students will be assessed a $190 orientation fee. International students will be charged an additional $50 per semester.

Financial Need The primary responsibility for financing a college education rests with the student and parents. Thus, a portion of the parents’ and student’s resources is expected to be available for college expenses.

All financial aid applicants are required to complete and submit the Free Application for Federal Student Aid (FAFSA). The FAFSA secures family income and asset information, which is analyzed to produce an estimate of the funds that the student and parents can reasonably be expected to provide for college expenses. This is known as the expected family contribution (EFC). The difference between the expected family contribution and the cost of attendance (which includes tuition, fees, room, board, books, personal expenses and travel) is defined as the student’s financial need. Students who demonstrate such need are eligible for need-based financial aid.

Only students who are 24 or older, married, veterans, or wards of the court will be considered for financial aid without regard to their parents’ ability to contribute to their education. Except in such circumstances, parental financial information will be required of all aid applicants under 24.

The Aid Package Financial aid is normally a combination of gift assistance, loan funds, and employment. The financial aid “package” is determined by the availability of the various forms of financial aid and the individual circumstances of the student. The application for University-based grants, loans, and employment is the FAFSA. Entering and Transfer students must also complete the University Financial Aid Application. Students must be United States citizens or permanent residents to receive financial aid. Students must be registered for a minimum of 12 credits to receive financial aid awards. About 24% of all undergraduate students receive financial assistance each year.

Payment and Refund Inquiries For questions or concerns regarding semester bills or expected refunds that have not yet been received, please check your account in ISIS (www.virginia.edu/isis) or contact us directly at:

Student Financial Services
Carruthers Hall
University of Virginia
P.O. Box 400204
Charlottesville, VA 22904-4204
faid@virginia.edu
www.virginia.edu/studentaccounts
www.virginia.edu/financialaid
434-982-6000
Office Hours: 8:00 a.m. to 5:00 p.m., Monday - Friday

Regulations for Title IV Funds: Available on-line at www.virginia.edu/financialaid/withdrawal.php.

Leave of Absence If a student who has received Title IV loans (i.e., Perkins Loans, PLUS Loans, and Federal Stafford Subsidized or Unsubsidized Loans) does not return from an approved leave of absence, some or all of the repayment deferral period may be exhausted. For purposes of the Title IV programs, the date of withdrawal is backdated to the first day of the approved leave of absence.

Withdrawal If a student leaves the University prior to completing 60% of a semester, the financial aid office recalculates eligibility for Title IV funds (i.e., Pell Grants, FSEOGs, Perkins Loans, Federal Stafford Subsidized and Unsubsidized Loans, and PLUS Loans). Recalculation is based on the percent of earned aid using the following formula: Percent of aid earned = the number of days completed up to the withdrawal date, divided by the total days in the semester.

Funds are returned to the appropriate federal program based on the percent of unearned aid using the following formula: Aid to be returned = (100% minus the percent earned) multiplied by the amount of aid disbursed toward institutional charges.

When Title IV funds are returned, the borrower may owe a balance to the University. Examples of refund calculations are available at the Student Financial Services office.

Application Procedures

U.Va. FAFSA code = 003745

Entering Students are required to submit the Free Application for Federal Student Aid (FAFSA) and an Undergraduate Financial Aid Application, which can be accessed at www.virginia.edu/financialaid. The FAFSA can be accessed at www.fafsa.ed.gov. Applicants must indicate the University of Virginia code (003745) in the appropriate section of the FAFSA. Parent and student tax returns and W-2 forms must also be submitted to Student Financial Services.

Students are encouraged to complete the FAFSA and Financial Aid Application by the March 1 priority filing date. Students will be notified of their financial aid eligibility shortly after notification of the admissions decision as long as all applications and forms were submitted timely.

Transfer Students should follow the same application procedures as entering students.

Returning Students must submit the FAFSA in order to be considered for financial assistance. The FAFSA can be accessed at www.fafsa.ed.gov and should be submitted to Student Financial Services by the March 31st priority filing date. Returning students will be notified of their financial aid eligibility in July.

Readmitted Students must follow the same procedures and deadlines as returning students. Copies of official letters of readmission must be submitted to Student Financial Services before a readmitted student will be considered for financial assistance.

Federal Eligibility Requirements

Enrollment Unless prior approval for a reduced course load has been obtained from the dean, students must register for at least 12 credits each semester in order to receive the full financial aid award and to claim their loans.

Citizenship Students must be either United States citizens or permanent residents in order to be eligible for federal, state, or University financial assistance.

Selective Service Students required to register for the draft under the Military Selective Service Act must sign a statement of compliance before they may receive any federal financial assistance.

Drug Conviction The 1998 Higher Education Amendment Act states that students who are convicted of violating any federal or state drug possession or sale laws are not eligible to receive financial aid and may be required to repay any aid received prior to their conviction. In completing the Free Application for Federal Student Aid (FAFSA), students are specifically instructed to contact the U.S. Department of Education at (800) 433-3243 or www.fafsa.ed.gov/q35 for assistance.

Default Status To receive federal financial aid, students cannot be in default on a Federal Perkins Loan, a Federal Stafford Student Loan, a Supplemental Loan for Students (SLS), or a Ford Federal Direct Loan received for study at any post-secondary institution; nor can they owe any refund on a Federal Pell Grant or Federal Supplemental Educational Opportunity Grant previously awarded at any post-secondary institution.

General Requirements

Entrance Interviews All first-time borrowers of Federal Stafford or Perkins Loans must be informed of their obligations before their first loan disbursement will be credited. Loan entrance interview materials can be accessed from the Financial Aid website at www.virginia.edu/financialaid.

Exit Interviews Students must complete an exit interview for all federal loans prior to either leaving the University or registering for less than half-time credits.

The student loan section of Student Financial Services will contact degree candidates by e-mail prior to graduation regarding exit counseling. Exit interview information for Perkins and Stafford Loans, may be accessed from the Financial Aid website at www.virginia.edu/financialaid. If the student withdraws, or registers for less than half-time credits, she or he must complete the interview on-line. If the student fails to complete an exit interview, UREG (Office of the University Registrar) will place a hold on the student’s official grade transcript record.

During the exit interview, students will be advised of their rights and responsibilities, given the opportunity to ask questions, and provided a repayment schedule.

Non-University Awards If a student receives assistance from a non-University source (scholarship or loan), University-awarded financial aid will usually be reduced. It is the student’s responsibility to notify Student Financial Services of any outside award received.

Reapplication Requirement No form of assistance is automatically renewed each year. However, assistance may be awarded upon reapplication by the appropriate deadline. Students must demonstrate continued financial need and satisfactory academic progress to receive this aid.

Change in Financial Situation Students are encouraged to notify the financial aid office of any changes in their financial situation during the year.

Satisfactory Academic Progress Standards

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Maintaining Satisfactory Academic Progress is one of many federally mandated criteria viewed in determining a student’s eligibility for continued receipt of financial aid. In order to remain eligible, a student must meet both a quantitative (credit hours) and qualitative (grade point average) standard. Students must also demonstrate a progression toward completion of their degree program within an established timeframe.

Student Financial Services will conduct a review of Satisfactory Academic Progress at the end of each academic year. Undergraduate students enrolled during the Fall and/or Spring semester will have their academic progress reviewed during the month of May. Undergraduate students, whose academic year of enrollment continues into the Summer term, will have their progress reviewed at the end of their enrollment period. Summer term is viewed as a trailer or extension of the academic year for undergraduate students.

Students who have not received financial aid in previous years, but are applying for financial assistance for the first time will also be held to the requirement of maintaining Satisfactory Academic Progress. Satisfactory Academic Progress is reviewed for all semesters of a student’s enrollment regardless of whether the student was eligible for financial assistance during a term.

Financial Aid Programs Affected Financial Aid programs which are affected by the Satisfactory Academic Progress policy include (but are not limited to) Federal Pell Grant, Federal SEOG, Federal Work Study, Federal Perkins loan, Federal Stafford loan, Federal PLUS loan, Alternative loans, State and University Grant Assistance (need-based, merit, or endowed funds).

Full-Time Undergraduate Students Undergraduate students who continue enrollment in the University, but who fail to maintain the minimum grade point average during any period of enrollment, will be ineligible for financial aid until the cumulative grade point average reaches the minimum level, as described below.

Academic Year Completed

Quantitative Standard
Minimum Credit Hours Required

  Qualitative Standard
Minimum Grade Point Average

First Year

 

 

 

 

 

First Semester

12 Hours

 

1.80

 

Second Semester

24 Hours

 

1.80

Second Year

 

 

 

 

 

Third Semester

39 Hours

 

1.90

 

Fourth Semester

54 Hours

 

1.90

Third Year

 

 

 

 

 

 

 

Fifth Semester

69 Hours

 

1.95

 

Sixth Semester

84 Hours

 

1.95

Fourth Year

 

 

 

 

 

 

Seventh Semester

99 Hours

 

2.00

 

Eighth Semester

114 Hours

 

2.00

 

 

 

 

 

Note: Students must maintain a minimum 2.0 grade point average to continue receipt of Virginia State Grant assistance from the State Council of Higher Education for Virginia.

Half-Time Undergraduate Students
Students enrolled at half-time status are required to maintain a minimum of 6 credit hours or the equivalent of half-time within their school, and maintain a grade point average consistent with the requirement for full-time enrolled students. Half-time students must also complete all coursework attempted during the semester.

Bachelor of Interdisciplinary Studies (BIS) At the end of an academic year (including Summer), each student will be required to complete a minimum 9 credit hours (3 credit hours per term) with a grade point average of 1.8 during the first two semesters, 1.9 during the third and fourth semesters and at least a 2.0 during the fifth semester and beyond. BIS students (half-time) are required to complete all coursework attempted.

Length of Enrollment Students are required to complete their program of study within a reasonable timeframe based on the average length of their program. Students who fail to complete their program of study within 150% of the average program length will be ineligible for federal, state and institutional assistance.

Academic Standing

Average Number of Semesters/Credit Hours Enrolled

Maximum Semesters of Enrollment/Credit Hours
At 150% of Completion

Undergraduate Student
(Full-Time)

8 Semesters / 120 credit hours

Up to 12 Semesters or 180 credit hours

Undergraduate Student
(Half-Time)

Students must complete their degree program within the time-frame established for full-time students.

Students must complete their degree program within the time-frame established for full-time students.

Bachelor of Interdisciplinary Studies (BIS)

The BIS program allows their students 22 semesters (including Summer) to complete their degree.

On average, a BIS student will be able to earn the required 60 credits for graduation within 20 semesters, at 3 credits per term; however, the program allows for 22 semesters of enrollment.

Master’s Degree Candidate

6 Semesters / Credit hours requirement established by individual academic program

Up to 9 Semesters / Credit hours requirement established by individual academic program

Doctoral Degree Candidate

14 Semesters / Credit hour requirement established by individual academic program

Up to 21 Semesters / Credit hours requirement established by individual academic program

Note: Students will only be eligible for Virginia State Grant assistance (State Council of Higher Education for Virginia) for a maximum of 8 semesters of enrollment.

Summer Session Coursework For the purpose of Satisfactory Academic Progress, Summer session is considered an optional semester for Undergraduate students. Credit hours attempted during the Summer session count toward the student’s cumulative credit hours, but do not count as a semester toward the maximum semesters allowed.

BIS students are expected to enroll during the Summer session; therefore, coursework attempted during this term will count toward the student’s cumulative credit hours and maximum semesters allowed.

Individual Schools’ Academic Progress Standards In addition to the above Satisfactory Academic Progress standards, each school will have additional conditions (such as area requirements and major requirements) that must be fulfilled to remain “in good standing.” As a result, even though a student may meet the minimum requirements for continued receipt of financial aid, the student may not be permitted to continue enrollment because of failure to remain in good standing in their school.

Financial Aid Probation Students who, for the first time, have failed to maintain Satisfactory Academic Progress will be placed on financial aid probation and allowed an additional year of financial aid eligibility. At the end of the probationary year, the student must meet the minimum credit hour and/or grade point average requirement. Students who fail to meet the minimum requirement at the end of the probationary period will lose their eligibility for future financial aid.

Re-Establishing Eligibility Students who fail to maintain Satisfactory Academic Progress may re-establish their eligibility for financial assistance through attendance at Summer session or at their own expense, during the Fall and Spring semester. Neither sitting out a semester nor the student paying for classes will re-establish eligibility. Once the student has earned the required grade point average or completed the required credit hours, they must contact Student Financial Services to request the reinstatement of their financial aid eligibility.

Right of Financial Aid Appeal Students who fail to maintain Satisfactory Academic Progress will have the right of appeal. A Satisfactory Academic Progress Petition must be submitted to Student Financial Services to request a consideration of unusual or mitigating circumstances (i.e. death of a parent(s) or relative, serious personal illness, emotional stress, etc.). The Satisfactory Academic Progress Petition must be completed by the student and signed by a Dean or Academic Advisor. In all cases the appeal must be submitted with supporting documentation.

Examples of Supporting Documentation:

  • Death of a parent or relative - Copy of Death Certificate or Obituary
  • Serious personal illness - Statement from Physician
  • Emotional stress - Statement from Academic Advisor, Counselor
    or other third party professional

Probationary Students Financial Aid Probationary students are not required to appeal. However, probationary students who fail to make satisfactory progress at the end of a probation period and have lost their eligibility for future financial assistance may submit a Satisfactory Academic Progress Petition to appeal for reconsideration of their eligibility. If the student successfully makes up the deficiency, he or she will automatically be taken off probation.
Financial Aid Appeal Committee The Financial Aid Appeal Committee will review all Satisfactory Academic Progress Petitions and supporting documentation. The outcome of the review will depend upon the nature of the circumstances causing the deficiency, how well it is documented, and how well the student has demonstrated that he or she is making progress toward earning a degree. The Financial Aid Appeal Committee’s decision is final and cannot be appealed.

Financial Aid Programs

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University and Federal Grants

Consideration for any grant listed below, with the exception of Athletic Grants-in-Aid, requires completion of the FAFSA, and for entering and transfer students only, the Undergraduate Financial Aid application.

Unless otherwise specified, University and federal grants are awarded for the academic year, with one-half available each semester. All awards are automatically applied to the payment of tuition, fees, room rent, and meal plans. After all deductions have been made, Student Financial Services will refund any remaining balance to the student. If the student has direct deposit, the balance will be deposited into his or her account.

If a student does not complete the semester, the grant will be prorated, and the unused portion will be cancelled according to Federal policies.

University Grants The University has a number of need-based grants available for undergraduate students. Financial aid applicants are automatically considered for any grants for which they qualify. There are no academic or merit scholarships available through Student Financial Services. Award amounts for University grants vary, but awards are made on a need basis.

Virginia College Scholarship Assistance Program (CSAP) The College Scholarship Assistance Program is a state-funded grant that provides financial assistance to Virginia residents enrolled in undergraduate programs, provided they enroll for a minimum of twelve credit hours per semester and meet the March priority filing deadline. Students who have already earned a bachelor’s degree are NOT eligible to receive CSAP assistance

Other State Scholarship Programs Several states have scholarship and grant programs that permit the student to use a state scholarship or grant at an out-of-state institution. For further information on these programs, students should contact the state awarding agency or their secondary school guidance counselor.

Federal Supplemental Educational Opportunity Grant (FSEOG) The Federal Supplemental Educational Opportunity Grant is awarded to undergraduates who demonstrate exceptional financial need (i.e. they have a low EFC and are also Federal Pell Grant recipients). In order to be eligible, students must file the FAFSA and the University Financial Aid Application by the March priority filing date and must be enrolled in a minimum of twelve credit hours per semester. At UVa., SEOG is usually reserved for high need, non-Virginia residents. Students who have already earned a bachelor’s degree are NOT eligible for SEOG assistance.

Federal Pell Grant The Federal Pell Grant is awarded to undergraduate students who have not previously earned a bachelor’s or professional degree. The size of the award is based on the students’ Expected Family Contribution (EFC) and their enrollment status. Students are eligible for a full-sized award when they are enrolled in a minimum of twelve credit hours per semester; they receive a prorated award when they are enrolled in fewer than twelve credit hours per semester.

Athletic Grant-in-Aid For information, contact the Department of Athletics, University of Virginia, P.O. Box 400821, Charlottesville, VA 22904-4821.

Loans

Students must complete the FAFSA to be considered for the Federal Perkins Loan, Federal Nursing Loan, and the Federal Stafford Loans (Subsidized and Unsubsidized).

Federal Perkins Loan Under this federal program administered by the University, a student may borrow up to a maximum of $4,000 for each undergraduate year. The maximum for all undergraduate years is $20,000. Repayment, at an interest rate of 5 percent, begins nine months after the student graduates, withdraws, or drops below half-time status.

No interest is charged while the student is attending school (graduate or undergraduate) on at least a half-time basis. Repayment begins nine months after the student leaves school. At that time, interest begins to accrue at an annual rate of 5 percent, with a minimum yearly payment of $480. Loans may be consolidated, and repayment may be extended over a 10-year period from the date of the first payment. Students do not have to accept a Federal Perkins Loan in order to receive other federal funds. Origination fees are not deducted from Perkins Loans.

Federal Nursing Loan Students enrolled in the University School of Nursing are eligible to be considered for the Federal Nursing Loan Program. The conditions are similar to those of the Perkins Loan.

No interest is charged while the student is attending school (graduate or undergraduate) on at least a half-time basis. Repayment begins nine months after the student leaves school. At that time, interest begins to accrue at an annual rate of 5 percent, with a minimum yearly payment of $480. Repayment may be extended over a 10-year period from the date of the first payment.

As soon as full-time registration is finalized each semester, half of the loan will be applied directly to the student’s account. Students are required to sign a promissory note at Student Financial Services. If the student fails to do so by October 1, the loan for the entire academic year will be cancelled, and the student will be billed for the balance due to the University.

Federal Stafford Loan Program The federal government allows students to borrow a maximum of the following: first year, $3,500; second year, $4,500; third, fourth, and fifth years, $5,500 each.

For students who demonstrate financial need, the federal government will pay the interest on the subsidized loan while the student is enrolled at least half-time. Repayment begins six months after leaving school. In some cases, only a portion of the loan may be eligible for the federal interest subsidy. Students who do not demonstrate financial need may still borrow these funds but will be required to pay the interest at a rate not to exceed 8.25 percent.

Independent students may borrow up to the following additional amounts per year through the unsubsidized loan program: first and second year, $4,000; third, fourth, and fifth years, $5,000. Payment of the interest on any unsubsidized loan begins 60 days after disbursement, unless interest capitalization is requested. Application forms can be accessed at www.virginia.edu/financialaid/loans.html.

Federal Stafford PLUS Loan Program These non-need-based loans are available from the federal government to parents of dependent students. The maximum that parents may borrow in a year is the cost of attendance, minus any financial aid awarded to the child. PLUS proceeds are applied to tuition charges before calculating any credit balances. Unless parents request otherwise, credit balances are refunded to them, rather than to the student. The interest rate is variable but will not exceed 9%, and repayment begins 60 days after disbursement. Application materials are available from the financial aid office.

Master Promissory Note New University of Virginia Stafford Loan borrowers will be required to sign a new promissory note with their Stafford Loan Lender. Once the lender has received the Master Promissory Note, the student’s University account will be credited the amount noted on the financial aid award letter, less the 3% loan origination fee if not covered by the lender or guarantor. Students must contact the financial aid office if they wish to reduce or decline their loan(s).

For each new loan borrowed, students receive disclosure statements from the Loan Origination Center. Because these statements provide information about the types and amounts of loans borrowed, as well as the loan period and anticipated disbursements, students should be sure to keep them for their personal records.

Disbursement Procedure Federal Stafford Subsidized and Unsubsidized Loans are payable in two disbursements of one-half each semester. Funds will not be credited to the borrower’s account until he or she has signed and returned the promissory note (if required) to the lender and has enrolled in the sufficient number of credits.

If a student receives other financial aid after the promissory note has been signed and returned, the loan amount will be reevaluated for eligibility by Student Financial Services. In the case of an “over-award,” one or both of the loan disbursements may be reduced or cancelled. If a student fails to enroll in sufficient credits, the loan may be cancelled within 30 days of registration.

Repayment Borrowers of any Federal Stafford Loan are mailed loan repayment information by the lender during the semester in which they plan to graduate. If the student does not receive this information prior to leaving, it is his or her responsibility to contact the lender.

Short Term Loan Under the terms of the Lee Emergency Loan, students enrolled in any of the University schools may borrow up to $500 for a period of approximately 30 days. Loans are interest free and available during the academic year through early March. Lee Loans are not available during the summer session. Students must apply in person at Student Financial Services.

Student Employment

To be considered for the work-study program, a completed FAFSA must be submitted.

Federal Work-Study Program Student Financial Services will make available to all eligible students all Federal Work-Study (FWS) job listings on the Financial aid website through University Career Services electronic student employment program. With this electronic process, students can search for their own FWS job based on their own interests and class schedule. Hourly wages and weekly schedules are based on the student’s financial need and work experience.

Employment Regulations Students typically work between eight and fifteen hours per week when classes are in session. In some instances, students may elect to work up to 40 hours per week during vacation periods. No student will be paid less than the federal minimum wage.

Special Scholarships and Programs

University Achievement Awards are designed to attract exceptional in-state students who will add diversity to the University community. Each year, the Office of Admission selects 50 entering Virginia students to receive the awards, which cover full tuition and fees for four years of University attendance. Selection is competitive, and consideration is automatic; no specific application is required.

Jerome H. Holland Scholarship The Office of Admission selects recipients of the Jerome H. Holland Scholarship to recognize outstanding African-American students from across the country. These renewable awards are offered on a competitive basis to entering students and are normally in the amount of $10,000 each. Consideration for the Jerome H. Holland Scholarship is automatic; no specific application is required.

General Assembly Nursing Program Virginia residents enrolled in the School of Nursing may apply for this state-funded, need-based program. These funds must be reimbursed either by working as a nurse in Virginia, or by repayment with interest. Application deadlines are April 30 for currently enrolled nursing students and June 30 for students who have completed only one semester. Students must allow a minimum of two months for application processing in order to meet the designated deadlines. Award amount: $2,000 maximum.

Veteran’s Educational Benefits Students eligible to receive educational benefits through the G.I. Bill or the V.A. Contributory or Non-Contributory Benefit Programs should contact the Veteran’s Affairs Coordinator, UREG (Office of the University Registrar), Carruthers Hall, (434) 924-4122.

Virginia War Orphans Program Under this program, a child (aged 25 years or younger) of either a deceased veteran or a veteran who is totally disabled from wartime service may receive a waiver of tuition and fees to attend a Virginia state-supported institution of higher education. Students who believe they qualify for this program should contact the Division of War Veterans Claims at the Commonwealth of Virginia, Department of Law, 210 Franklin Road SW, Roanoke, VA 24004.

University Tuition Payment Plan In conjunction with a private vendor, the University has developed an installment payment plan. For an annual fee of $65 (subject to change annually), tuition, fees, housing and dining charges may be paid in 10 monthly installments. The final date to enroll in the payment plan is July 25, 2008. For complete details, contact Tuition Management Systems at (800) 722-4867 or www.afford.com/UVA.

Student Rights and Responsibilities

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Students have the right to:

  1. know what financial aid programs are available (see Financial Aid Programs);
  2. know the deadlines for submitting financial aid applications (see Application Procedures and General Assembly Nursing Program);
  3. know how financial aid will be distributed, and on what basis those decisions are made (see General Information);
  4. know how their financial need was determined, including how costs for tuition and fees, room and board, travel, books and supplies, and personal and miscellaneous expenses are considered in their budgets (see General Information and the student’s award letter);
  5. know what resources (e.g., parental contribution, other financial aid, and individual assets) were considered in calculating their need (see the student’s award letter);
  6. know how much of their financial need, as determined by the institution, has been met (see the student’s award letter);
  7. request an explanation of the various programs in their financial aid package (see Financial Aid Programs);
  8. know the school’s refund policy (see General Information section above);
  9. know what portion of financial aid must be repaid and what portion is grant aid. If the aid is a loan, students have the right to know the interest rate, the total repayment amount and procedures, the length of time allotted for repayment, and when repayment is to begin (see the student’s award letter and Financial Aid Programs);
  10. know how the school determines whether the student is making satisfactory progress, and the consequences of unsatisfactory progress (see General Requirements);
  11. decline having Title IV aid credited to institutional or prior year charges.

Students are required to:

  1. complete all application forms accurately and submit them to the appropriate office by the deadline;
  2. provide correct information. Misreporting information on financial aid application forms is a violation of the law. Such action may be considered a criminal offense and could result in indictment under the U.S. Criminal Code;
  3. return all additional documentation, verification, corrections, and new information requested by either Student Financial Services or the agency to which the application was submitted;
  4. read, understand, and maintain copies of all forms requiring their signature;
  5. accept responsibility for all signed agreements;
  6. perform the work agreed upon in accepting a federal work-study award;
  7. be aware of, and comply with, the deadlines for financial assistance application and reapplication;
  8. be aware of the school’s refund procedures;
  9. complete an exit interview if they have borrowed loans and are terminating student status or registering for less than half-time credits;
  10. maintain current and correct addresses with UREG (Office of the University Registrar);
  11. complete registration at the prescribed time in order to receive disbursements on a timely basis.

 

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