WHAT ARE YOUR RIGHTS?
You have the right to:
- Know what financial assistance is available at MSM.
- Know the deadlines for submitting applications for each of the financial aid programs available.
- Know the cost of attending MSM and MSM's refund policy.
- Know the criteria used by the MSM STUDENT FISCAL AFFAIRS OFFICE (SFAO) to select financial aid recipients.
- Know how your financial need is determined. This includes how costs for tuition and fees, room and board, transportation, books and supplies, personal and miscellaneous expenses, etc, are considered in determining your budget.
- Know what resources (such as parental contribution, other financial aid, your assets, etc.) are considered in the calculation of your need.
- Know how much of your financial need as determined by the SFAO has been met.
- Request from the SFAO an explanation of the various programs in your financial aid award.
- Know what portion of the financial aid you receive must be repaid and what portion is grant aid. If the aid is a loan, you have the right to know what the interest rate is, the total amount that must be repaid, the procedures for repayment, the length of time you have to repay the loan, and when repayment is to begin.
- You have a right to request that any loans disbursed (each semester) be canceled within 14 days from the date of direct deposit notification.
Know how MSM determines whether you are making satisfactory academic progress (for financial aid purposes) and what happens if you are not.
WHAT ARE YOUR RESPONSIBILITIES?
It is your responsibility to:
- Review and consider all information about MSM financial aid programs before you enroll at MSM.
- Complete all application forms accurately and submit them to the SFAO. Errors can delay your receipt of financial aid. Intentional misreporting of information on application forms for Federal financial aid is a violation of law and is considered a criminal offense subject to penalties under U.S. Criminal Code.
- Return all additional documentation, verification, corrections, and/or new information requested by either the SFAO or the agency to which you submitted your application.
- Read and understand all forms you are asked to sign and keep copies of them for your personal records.
- Accept responsibility for all agreements you sign including the repayment of loans.
- If you have a loan, notify the lender of changes in your name, address, or enrollment status.
- Perform the work that is agreed upon in accepting a Federal work-study award.
- Know and comply with the established deadlines for application and re-application for aid.
- Know and comply with MSM refund/repayment procedures.
Know the satisfactory academic progress policy for continued financial aid eligibility.