Federal regulations state that the student has a right to know:
- What financial aid programs are available;
- The deadlines for submitting applications for each of the financial aid programs available;
- How financial aid is distributed;
- How the student’s financial need was determined;
- How much of the determined financial need has been met;
- An explanation of the various programs in the student’s aid package;
- The College’s tuition refund policy in case the student withdraws;
- What portion of the financial aid is loan and must be repaid and what portion is not repayable grant/scholarship aid;
- For loans awarded, what the interest rate is, the total amount that must be repaid, the repayment procedures, the length of time to repay the loan, and when the repayment is due to begin;
- How the College determines satisfactory academic progress and the consequences if such progress is not met; and
- That all documents submitted to the Office of Financial Aid are confidential.
Similarly, the student’s responsibilities are to:
- Read the information that the College is required to provide about policies;
- Complete all required documents accurately and submit them before the deadlines to the proper places;
- Provide correct information. In most instances, misrepresentation of information on financial aid application forms is a violation of law and may be considered a criminal offense that could result in indictment under the U.S. Criminal Code. Misrepresentation may also result in disciplinary action by Emerson College;
- Supply all additional documentation, verification, corrections, and/or new information requested by the Office of Financial Aid or the agency to which the application is submitted;
- Read and keep copies of all forms requiring a signature;
- Be aware of the terms of the assistance programs awarded;
- Accept responsibility for all signed agreements including the repayment of loans according to the stated terms;
- Notify the Office of Financial Aid promptly and in writing of any changes in financial circumstances that occur after submission of the aid application;
- Notify the Office of Financial Aid promptly and in writing of any change in academic status; and
- Be aware of the College’s refund procedures.
If the College has reason to suspect that a financial aid applicant may have deliberately misrepresented information in connection with his/her aid application, the College may initiate disciplinary action. In the case of fraud or other criminal misconduct, referral may be made to the U.S. Department of Education’s Office of Inspector General, or if more appropriate, to a state or local authority.