Student Responsibilities When Receiving Financial Aid

As a student, you have the following responsibilities:

  • To review all information regarding the institution’s programs
  • To understand and meet the Satisfactory Academic Progress (SAP) policy.
  • To understand the institution’s refund policy procedure
  • To adhere to the deadlines for financial aid application or reapplication for federal financial aid
  • To understand and comply with all the forms that you sign and agree to
  • To inform the institution if there are any changes in your personal information
  • To complete and submit the most accurate information on financial aid forms/applications.
  • To submit any additional information requested by the Office of Financial Aid or through KHEAA Verify
  • To understand the financial aid process and submit any forms and/or applications in a timely manner
  • To stay informed regarding financial aid by checking your student email account.
  • If dependent, to keep your parents informed of all the financial aid requirements and deadlines
  • To notify the Office of Financial Aid at the point that you are awarded any outside sources of funding
  • To understand and comply with the institution’s attendance policy
  • To understand and comply with the institution’s refund and repayment policy

When borrowing Federal Direct Student Loans, it is a student’s responsibility to:

  • Acknowledge these funds are to be used for educational purposes
  • Complete Loan Entrance Counseling which is a tool to ensure you understand your obligation to repay the loan. https://studentaid.gov/app/counselingInstructions.action?counselingType=entrance
  • Sign a Master Promissory Note, agreeing to the terms of the loan. https://studentaid.gov/mpn/
  • Complete the Annual Student Loan Acknowledgment, allowing a student to view and acknowledge aggregate loan amounts each year.https://studentaid.gov/app/counselingInstructions.action?counselingType=entrance
  • Begin repaying student loans 6 months after graduation, dropping below half-time enrollment or leaving school
  • Always keep personal information updated with lender, including name, address,
  • and school enrollment status
  • Establish a plan to complete a degree before exhausting aggregate loan limits
  • Make payments on time. You are required to make payments on time even if you don’t receive a bill, repayment notice, or a reminder. You must pay the full amount required by your repayment plan, as partial payments do not fulfill your obligation to repay your student loan on time