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Student Rights and Responsibilities

By accepting a financial aid award, the student has the following rights and responsibilities. 

RIGHTS 

You have the right to know:

  • What financial aid is available through federal, state, local, private, and institutional financial aid programs and the application deadlines for each program.
  • The eligibility requirements and the criteria used for recipient selection for each program.
  • How your financial need is determined, including how cost of attendance budgets are developed, the calculation and amount of the EFC, and the criteria for determining the amount of your aid award(s).
  • How much of your financial need, as determined by IECC, has been met, including the resources considered in the calculation.
  • The portion of your aid package that is grant or gift aid and what portion must be repaid, including interest rates, the total amount to be repaid, when repayment begins, and how long you have to repay the loan(s).
  • How and when aid is disbursed or applied to your account.
  • That you may request a review of your aid package if you believe a mistake has been made or if your financial circumstances have changed.
  • The impact of financial aid disbursements if you withdraw before the semester is completed.
  • How we determine whether you are making satisfactory academic progress and what happens if you are not.
  • That your privacy is protected under FERPA.

 


RESPONSIBILITIES 

It is your responsibility to:

  • Review and consider all information about our academic programs before enrolling.
  • Be aware of your ability to pay any institutional charges based on your available financial aid and personal resources.
  • Review and understand the Terms and Conditions of your financial aid award.
  • Apply for financial aid annually, as early as October 1st prior to the fall semester you will be attending. Falsification of information on application forms for federal student aid is considered a criminal offense and may subject you to penalties under the U.S. Criminal Code.
  • Read, understand, and keep copies of all correspondence, forms, and notifications you have received (or generated) regarding financial aid and other assistance while knowing you are legally responsible for all agreements you sign.
  • Notify the Financial Aid Office of a change in name, social security number, address, or enrollment status.  If you have a loan, inform the lender as well.
  • Inform the Financial Aid Office if you receive any other scholarships, grants, employer tuition benefits, public aid educational benefits, or other financial aid for educational purposes.
  • Repay all student loans you request. When you complete a promissory note, you are agreeing to repay the loan. You must also complete any required entrance and exit loan counseling sessions if a Federal Direct Loan has been requested and received.
  • Be aware of the ramifications of a federal drug conviction while receiving financial aid.
  • Ask questions about anything you do not understand.
  • Use financial aid for educational expenses only. 
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