When applying for financial aid, the student has the right to ask the following:
What the cost of attending is, and what the policies are on refunds to students who drop out.
What financial assistance is available, including information on all federal, state, local, private, and institutional financial aid programs.
What the procedures and deadlines are for submitting applications for each available financial aid program.
What criteria the institution uses to select financial aid recipients.
How the institution determines financial need. This process includes how costs for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc., are considered in the student’s budget. It also includes what resources (such as parental contribution, other financial aid, student assets, etc.) are considered in the calculation of need.
How much of the student’s financial need, as determined by the institution has been met.
Students also have the right to request an explanation of each type of aid, and the amount of each, in their financial aid award package.
Students receiving loans have the right to know what the interest rate is, the total amount that must be repaid, the length of time given to repay the loan, when repayment must start, and any cancellation and deferment provisions that apply. Students offered a Work-Study job have the right to know what kind of job it is, what hours are expected, what the duties will be, what the rate of pay will be, and how and when they will be paid.
A student also has the responsibility to:
Pay special attention to his or her application for student financial aid, complete it accurately, and submit it on time to the right place. Errors can delay the receipt of the financial aid package.
Provide all additional information requested by either the Office of Student Financial Services or the agency to which the application was submitted.
Read and understand all forms he or she is asked to sign and keep copies of them.
Perform in a satisfactory manner, as determined by the employer, the work that is agreed upon in accepting a Federal Work-Study job.
Know and comply with the deadlines for applications or reapplications for financial aid.
Lnow and comply with the University’s refund procedures.
Notify the Office of Student Financial Services and the lender of a loan (e.g., Federal Direct Loan (Stafford)) of any change in name, address, or school status.
Complete the Entrance Interview process if he or she is a new loan borrower.
Complete the Exit Interview process prior to withdrawal or graduation.
Uphold their financial obligation
100% of our freshmen!
That’s how many of our freshmen class receive institutional scholarships and grants from Felician! As an accepted student at Felician, you are automatically considered for scholarships (with a completed FAFSA). Our job is to keep Felician affordable and remove barriers to your becoming a Golden Falcon!
