Student Rights and Responsibilities for Financial Aid
Each year students request financial assistance to help defray the cost of education. Federal, institutional, and off-campus resources combine to form a partnership with your (and your family’s) own commitment to meet your educational costs. As a student financial aid recipient and partner in this process you have a number of rights and responsibilities:
As a student you have the right to:
- know what financial assistance is available to you, including all federal, state, and institutional financial aid programs.
- know the deadlines for submitting applications for applicable financial aid programs and the process required.
- know how your financial aid eligibility was determined. This includes how costs for tuition, fees, room, board, books and supplies, travel, and personal and miscellaneous expenses were determined in your estimated cost of attendance. It also includes what resources were considered in the calculation of your financial aid eligibility (such as parental contribution and other financial aid or personal assets).
- request a review of your current financial situation if you meet certain criteria based on changes since filing the current aid year FAFSA application.
- know the type and amount of financial aid you will receive, how much of your financial need has been met, how and when your financial aid will be disbursed, and how to retain eligibility for those awards.
- know what portion of your aid package is grant or gift aid, and what portion must be repaid. In addition, you have the right to know interest rates, total amount to be repaid, procedures for repayment, when repayment begins, and how long you have to repay the loan.
- know and access Centenary’s Consumer Information.
- view your student financial aid file in accordance with the Family Educational Rights and Privacy Act (FERPA).
- know the consequences should you not maintain your financial aid eligibility; i.e., failing SAP, withdrawing from a class or classes, etc. request a reduction or cancelation of your student loan. Remember that a student loan is a debt that must be repaid; borrow only what you need.
As a student you have the responsibility to:
- regularly check your student email account for information from Centenary and the Financial Aid Office.
- be aware of your ability to pay any institutional charges based on your available financial aid and personal resources.
- review and understand the terms and conditions of your financial aid award.
- complete all applications and forms accurately and timely. You must read and understand all forms you are asked to sign and keep a copy of each. You are also responsible for knowing the financial aid reapplication deadlines.
- know and register for the required number of eligible hours to receive your financial aid. You will also need to know the implications of dropping a course or dropping all of your courses will have on your financial aid.
- notify the financial aid office of any change to your housing status and to know the implications of that change.
- inform us of any outside scholarships, assistantships, or additional resources that you receive.
- provide correct information at all times. Reporting false information is a violation of the law and may be considered a criminal offense.
- know and comply with all policies and procedures of Centenary University.
- manage your financial aid experience.
- comply with the provisions of any promissory note and all other agreements you sign.
- use student financial aid proceeds solely for direct educational costs and related living expenses.
- notify Centenary’s Registrar’s Office and any lenders if there are changes in your name, social security number, permanent mailing address, anticipated graduation date, or enrollment status.