Students Rights and Responsibilities Regarding Financial Aid
You have the right to know…
- What financial aid programs are available at Platt College and any priority application deadlines to be considered for this assistance.
- The deadlines for submitting applications for each of the programs
- How financial aid will be distributed, how decisions on distribution are made, and the basis for these decisions
- How your financial need was determined
- What resources were considered in the calculation of your need
- The appeal procedure regarding financial aid issues
- How much of your financial need as determined by Platt College has been met
- The details of the various programs in your student aid package
- Platt College's refund policy
- What portion of the financial aid you received must be repaid, and what portion is grant aid. If the aid is a loan, you have the right to know 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
- How Platt College determines if you are making satisfactory progress for the purpose of remaining eligible to receive financial aid, and what happens if standards are not met.
- Borrowers have the right to know the interest rate, the total amount that must be repaid, the repayment procedures as well as the length of the repayment period and when it begins.
- How your school determines return of funds to Title IV programs if you withdraw from Platt College
In accepting your responsibilities, you must…
- Complete all application forms accurately and submit them on time to the proper place
- Provide correct information. In most instances, misreporting information on financial aid application forms is a violation of law and may be considered a criminal offense that could result in indictment under the US Criminal Code
- Return all additional documentation, verification, corrections, and/or new information requested by either the Office of Student Financial Aid and Scholarship Services or the agency to which you submitted your application
- Be responsible for reading and understanding all forms that you are asked to sign, and for keeping copies of them
- Live up to all agreements that you sign
- Maintain at least half-time student status
- Remain in Good Academic Standing as described in the College Catalog and monitored by the College Registrar.
- Make satisfactory academic progress toward a bachelor’s degree as defined in the satisfactory academic progress policy for financial aid.
- Be aware of and comply with deadlines for application or reapplication for aid
- Be aware of your school’s refund procedures
- Report changes in name, address, telephone number, and enrollment status to Financial Aid, and the College Registrar.
- Notify the Financial Aid Office immediately regarding other assistance, including external resources and other educational benefits, received for the academic year. Such assistance must be taken into consideration when determining the financial need of a student and may affect eligibility for federal need-based aid, primarily loan and grant programs.
- Notify the Financial Aid Office of changes in marital, enrollment and/or housing status which may result in a revision to financial aid eligibility.
- Provide documents upon request to validate the information provided on the financial aid application. This is commonly referred to as “verification” and provides confirmation that a student’s eligibility for financial aid is being determined using accurate information.
- Complete the process for securing any loan funds offered if it is determined that the funds are needed.
- Repay loan funds received in accordance with the terms of the respective loan program.
- Pay on-time — All college charges not covered by financial aid.
- Reapply for financial aid each year, by the priority filing date, using the FAFSA.