CENTRAL LAKES COLLEGE | Support Services | Brainerd Minnesota and Staples MN

Rights & Responsibilities

Students who receive financial aid awards have rights as well as responsibilities. These rights and responsibilities are explained in detail below.

Students have the right:

To know that their financial aid award is based on calculated financial need.

To receive their financial aid award as long as they are eligible and meet their responsibilities.

To be informed of the terms of any loan program awards that they are offered.

To accept, reject, or seek adjustments to their financial aid award without prejudice.

To know how much financial aid they will receive each term and when financial aid payments will be disbursed.

To privacy of information regarding their financial aid files.

To access their financial aid files.

To seek financial aid counseling.

Students have the responsibility:

To complete an application for financial aid annually to demonstrate continued need.

To provide accurate and factual information on all financial aid forms. Students must notify the Financial Aid Office of any change in information including (a) withdrawal from school,
(b) reduction in number of credits, (c) change in address, name, or marital status, and (d) change of financial information provided on application form.

To read and understand all financial aid forms and keep copies of them.

To repay all loans according to the terms outlined in their truth-in-lending and promissory note forms.

_{Students who are in default of any loan
will be denied financial aid.}

To use their financial aid award for educational purposes and to carefully manage the funds that they receive.

To refund a portion or all of their financial aid upon total withdrawal from school. Refunds must be made to the Business Office. Failure to make such refunds may cause students to lose further eligibility.

To refund a portion of their financial aid award if the student never attended a class, but received a financial aid award based on the credits for that class.

To submit forms by the deadlines and to keep their financial aid appointments.

To work during the summer to supplement their financial aid awards and meet total educational costs.

To report to the IRS on calendar year basis any grants and/or scholarships received that were in excess of tuition, fees, books and required supplies.