Student Responsibilities When Receiving Financial Aid
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As a student, you have the following responsibilities:
- To review all information regarding the institution's programs
- To understand and meet the Satisfactory Academic Progress (SAP) policy.
- To understand the institution's refund policy procedure
- To adhere to the deadlines for financial aid application or reapplication for federal financial aid
- To understand and comply with all the forms that you sign and agree to
- To inform the institution if there are any changes in your personal information
- To complete and submit the most accurate information on financial aid forms/applications.
- To submit any additional information requested by the Office of Financial Aid or through KHEAA Verify
- To understand the financial aid process and submit any forms and/or applications in a timely manner
- To stay informed regarding financial aid by checking your student email account.
- If dependent, to keep your parents informed of all the financial aid requirements and deadlines
- To notify the Office of Financial Aid at the point that you are awarded any outside sources of funding
- To understand and comply with the institution's attendance policy
- To understand and comply with the institution's refund and repayment policy
When borrowing Federal Direct Student Loans, it is a student's responsibility to:
- Acknowledge these funds are to be used for educational purposes
- Complete Loan Entrance Counseling which is a tool to ensure you understand your obligation to repay the loan. http://studentaid.gov/app/counselingInstructions.action?counselingType=entrance
- Sign a Master Promissory Note, agreeing to the terms of the loan. http://studentaid.gov/mpn/
- Complete the Annual Student Loan Acknowledgment, allowing a student to view and acknowledge aggregate loan amounts each year.http://studentaid.gov/app/counselingInstructions.action?counselingType=entrance
- Begin repaying student loans 6 months after graduation, dropping below half-time enrollment or leaving school
- Always keep personal information updated with lender, including name, address,
- and school enrollment status
- Establish a plan to complete a degree before exhausting aggregate loan limits
- Make payments on time. You are required to make payments on time even if you don't receive a bill, repayment notice, or a reminder. You must pay the full amount required by your repayment plan, as partial payments do not fulfill your obligation to repay your student loan on time