Rights & Responsibilities
You, the student, have the following RIGHTS:
- To know what financial assistance is available including information on all Federal, State and Institutional Financial Aid Programs.
- To know the cost of attending the institution and First Institute’s refund and repayment policies.
- To know the criteria used by First Institute in awarding financial aid and how the school determines your financial aid.
- To know what resources are considered in the calculation of your financial aid and personal obligation.
- To request an explanation of your financial aid package from the First Institute Financial Aid Office.
- To request a re-consideration of the financial aid award given to you in the event you feel that an error has been made or that you have not been given adequate consideration in determining your financial aid.
- To know what portions of your awards are grant aid or loan aid. If the amount is a loan, you have the right to know what the interest rate is, the total amount that must be repaid, the repayment procedures, the length of time you have to repay the loan and when repayment is to begin.
- To know how First Institute determines Satisfactory Academic Progress* and to know the consequences not attaining or maintaining Satisfactory Academic Progress may have on your financial aid.
You, the student, have the following RESPONSIBILITIES:
- To review and consider all information about the programs of First Institute before you enroll. Remember that the final choice is yours.
- To complete all application forms and submit them on time to the correct First Institute Personnel. Errors or missing documents may cause delays in the processing of your financial aid. Intentional misreporting, in most instances, of information on application forms for Federal Student Aid is a violation of the law and is considered a criminal offense subject to penalties under the U.S. Criminal Code.
- To read and understand all documents before signing them and retain a copy for your own personal records.
- If receiving a loan, to notify the lender of changes in enrollment status, address or any other relevant change.
- If receiving a loan, to complete Entrance and Exit Counseling with a Financial Aid Representative of First Institute.
- To sign a financial aid award letter before receiving your financial aid stating that you will use funds received for educational purposes only.
- To know and comply with First Institute’s refund policies and procedures.
- To know that your eligibility for any Title IV Federal Student Aid may be suspended or terminated by the court as part of a conviction for possessing or distributing illegal drugs.
Taxpayer Relief Act of 1997
New tax benefits became available for adults who want to return to school and for parents who are sending their children to college. There are also benefits for people who are repaying student loans. For additional information see the booklet entitled “Tax Benefits for Higher Education” found online at www.edfund.org.
*Please refer to the Student Catalog for a complete explanation of what constitutes Satisfactory Academic Progress.