Financial Aid Rights & Responsibilities
As a recipient of financial aid, you are responsible for:
1. Completing and submitting application materials to the appropriate agencies within required or recommended time frames. All undergraduate students who are fully admitted and degree seeking can complete the Free Application for Federal Student Aid (“FAFSA”). Families can use “estimated” tax information to complete the FAFSA form. However, you should return and update the FAFSA once you submit your final return to the Internal Revenue Service (IRS). No aid will be disbursed at Williamson College on estimated tax information.
2. Reading all materials sent to you from the Financial Aid Office and other agencies awarding you aid. Read, understand, and keep copies of all forms you sign.
3. Knowing and complying with the rules governing the aid you receive. These rules include but are not limited to:
- You must not be in default on any prior educational loan.
- You must not owe a refund on a Federal Pell Grant, or Federal Supplemental Educational Opportunity Grant due to repayment.
4. Providing additional documentation, federal tax transcripts and any additional information, if required for receiving financial assistance.
5. Complying with the provisions of any promissory note and all other agreements you sign. All loans are serious obligations and must be repaid.
6. Completing the registration process each term by the slated time period given by the Registrar’s office, in order to ensure availability of all student aid funds you have been awarded. Note: Some aid programs are limited and may be subject to cancellation if your registration process is not completed by the designated period.
7. Using student financial aid proceeds solely for direct educational costs and related living expenses.
8. Knowing the financial implications of dropping a course or withdrawing from Williamson College will have on your student financial aid. Always check with the financial aid office before dropping or withdrawing from a course.
9. Making Satisfactory Academic Progress (SAP) towards completing a degree program in a timely manner. Minimum requirements must be met in order to participate in the federal aid programs. Appeals of the SAP decision can be made and it is the student’s responsibility to secure and provide a full written appeal to the financial aid office. Appeals made without supporting documents will not be considered.
10. Understanding that federal financial aid recipients who complete a term receiving all F-grades as a result of non-attendance will be subject to the Title IV withdrawal policy and have their aid adjusted according to federal regulations. Students will be required to repay part or all of the federal/state student aid funds received. Any student withdrawing, graduating or leaving for longer than a 45 day break who have borrowed under the Federal Direct loan program will be required to complete Federal Direct Loan Exit Counseling.
11. Reporting private sources of student financial aid to Financial Aid Office. Please submit a copy of your outside scholarship award letter to the Financial Aid Office.
12. Reporting any changes in your status: marital, academic, enrollment, residential, or name change to the Financial Aid Office.
13. Keeping your local and permanent home and email addresses and phone numbers current with the Registrar’s Office and the Financial Aid Office.
As a recipient of financial aid, you have the right to:
1. Know the correct procedures for applying for student financial aid, know your cost of attendance, and know the types of aid available.
2. Know how financial need is determined, what the criteria are for awarding aid, how academic progress is determined, and what you have to do to continue receiving aid.
3. Know the type and amount of assistance you will receive, how much of your need has been met, and how and when you will receive your aid funds.
4. View the contents of your student financial aid file, in accordance with the Family Educational Rights and Privacy Act.
5. Know the conditions of any loan you accept. You have the right to review a sample loan repayment schedule.
6. Know the terms, conditions, and pay rate for any student job you accept under the Federal Work Study Program.
7. File an appeal to a SAP (Satisfactory Academic Progress) decision with the Financial Aid Office in regard to your application. The deadline to submit an appeal is 2 weeks prior to the first day of the term the student is requesting federal aid.