Rights and Responsibilities Associated with Financial Aid
Federal, state, and institutional student financial aid is a privilege, which creates both rights and responsibilities. Review and understand your rights and responsibilities associated with being a financial aid applicant, recipient, and a student loan borrower.
You have the right to:
- Be advised of what types of financial aid is available, including information on federal, state, and institutional aid programs;
- Know and understand the authorized educational expenses involved in the cost of attendance;
- Be informed about the financial aid application process and procedures;
- Understand how financial need is determined and how outside resources may affect your eligibility;
- Understand your award and the guidelines of the aid programs involved; what portion of your aid that must be repaid and what portion may be gift aid;
- Know and understand the refund policies pertaining to dropping and the return of federal aid as a result of withdrawing from all your coursework;
- Understand the requirements of Satisfactory Academic Progress for continued receipt of financial aid;
- Confidential protection of your financial aid records. The contents of your file are maintained in accordance to the Federal Family Educational Right and Privacy Act (FERPA).
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You have the responsibility to:
- Realize that you and your family, if applicable, are primarily responsible for your educational costs;
- Respond promptly and return all required additional documentation, corrections, and/or new information to the Office of Financial Aid;
- Report the receipt of all outside resources that may be received throughout the aid year;
- Keep copies of all forms and agreements you sign;
- Understand that your award is used only for educational costs incurred while enrolled at GSC;
- Know and comply with the deadlines for application and reapplication for student aid;
- Maintain Satisfactory Academic Progress to continue receipt of student aid;
- Know the implications on your financial aid when dropping and/or withdrawing from coursework;
- Notify the Office of Financial Aid of any changes in your anticipated enrollment since it may affect your eligibility;
- Satisfactory perform and complete work assignments accepted through the federal work study program.
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