Rights and Responsibilities of Students Receiving Financial Assistance

Students have a right to know:

  • What financial assistance is available, including federal, state, and institutional aid
  • The deadlines for submitting applications
  • What criteria are used to award the various financial aid programs
  • How financial need is determined, including what the cost of attendance is
  • What resources are considered in calculating financial need and how other resources affect their need
  • That the information they give to the Financial Aid Office will be treated confidentially
  • Policies for students who withdraw
  • An explanation of the various funds in the financial aid package, including which financial aid programs must be repaid and which do not
  • How they can have their financial need reviewed if their family circumstances have changed
  • How Satisfactory Academic Progress is determined and how it might affect their financial aid eligibility

Students have the responsibility to:

  • Complete a financial aid application on time and accurately. Students must reapply for all financial aid programs annually
  • Provide any additional information requested for the processing of their Financial Aid file (such as federal tax returns, tax transcripts, verification forms, or other documentation)
  • Read and understand all forms that they are asked to sign and keep a copy of such forms for their record
  • Use financial aid for educational expenses only
  • Make Satisfactory Academic Progress as determined by the Financial Aid Office
  • Inform the Financial Aid Office of any additional Financial Aid they receive such as scholarships, outside grants, assistantships or other educational/tuition assistance
  • Repay all loans according to the terms of the promissory note. Students who default on a loan are not eligible for additional Financial Aid
  • Perform their federal work-study job in a satisfactory manner
  • Know and comply with any refund processes
  • Inform Louisburg College Financial Aid if their personal information changes such as:
    • Their permanent address
    • Their enrollment status (credit load)