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).
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.