The Award Letter (Financial Aid)
Rights & Responsibilities
RIGHT [rit] noun
That which is morally correct, just, or honorable.
RESPONSIBILITY [ri-spans-i-bil-a-te] noun
The state or fact of being accountable - having the duty to deal with something.
As a federal financial aid recipient, you have certain rights. You also have certain responsibilities (pdf). It is a good idea to read, know and understand both. Contact us if you have questions. We are here to help.
- What financial assistance is available, including information on all federal, state and institutional financial assistance.
- What the deadlines are for submitting an application for each of the financial aid programs available.
- What the cost of attending is, and what the refund policy is.
- What criteria are used to select financial aid recipients.
- How the college determines your financial need. This process includes how the following items are considered in the calculation of your need: tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc.
- What resources, such as parental contribution, other financial aid, your assets, etc., are considered in the calculation of your need. (link courtesy of Minnesota Office of Higher Education)
- How much of your financial need as determined by the institution has been met (To view, log on to your self service account.)
- What the various items are in your financial aid award. If you believe you have been treated unfairly, you may request a reconsideration of the award which was made for you.
- What portion of the financial aid award you receive must be repaid (a loan), and what portion is grant aid. If the aid is a loan you have a right to know what the interest rate, the total amount that must be repaid, the payback procedures, the length of time you have to repay the loan, and when repayment is to begin.
- Information schools must provide as part of the consumer information regulations.