3: Financial Aid

General Information | Loans | Student Employment | General Requirements for Financial Aid
Student Rights and Responsibilities Regarding Financial Aid

Student Rights and Responsibilities Regarding Financial Aid

The Rights of Federal Aid Recipients Include:
  1. The right to know what financial aid programs are available (see Financial Aid Programs).
  2. The right to know application deadlines for each program (see Application Procedures and Loans).
  3. The right to know the basis for financial aid decisions including the determination of need, and the calculation of student resources and student budgets (see General Information and the Federal Work-Study Award Letter).
  4. The right to know how much of demonstrated financial need has been met by the financial aid package (see the Federal Work-Study Award Letter or visit the Office of Financial Aid).
  5. The right to request an explanation of the funds included in the student aid package (see Financial Aid Programs).
  6. The right to know the school's refund policy (see Chapter 2).
  7. The right to know which of the funds in the aid package are loan and therefore must be repaid. This includes the right to know the rate of interest, the aggregate loan amount while in attendance at the University, the repayment procedures, the length of time permitted for repayment and when repayment begins (see Loans).

The Responsibilities of Federal Aid Recipients Include:

  1. Completing all application forms accurately and submitting them to the appropriate agency or office by the specified deadline.
  2. Providing correct information because misreporting information on financial aid application forms is a violation of U.S. Law and may be considered a criminal offense which could result in indictment under the U.S. Criminal Code.
  3. Returning all additional documentation, verification, corrections and update information requested either by the Office of Financial Aid or any other agency to which applications are submitted.
  4. Reading, understanding, and maintaining copies of all forms requiring the filer's signature.
  5. Accepting responsibility for all signed agreements, including repayment obligations for student loans.
  6. Performing the work agreed upon when accepting a Federal Work-Study award.
  7. Being aware of University refund policies and procedures.
  8. Receiving the Ford Federal Direct Loan entrance interview materials which contain borrower obligation information.
  9. Completing the Ford Federal Direct Loan exit interview and obtaining loan repayment information if student status is terminated or if less than half-time enrollment (six credits per semester) is anticipated.
  10. Maintaining current and accurate address information with the Office of the University Registrar, Carruthers Hall.
  11. Completing the registration process and enrolling in courses early in the semester in order to receive loan disbursements on a timely basis (see Financial Aid Programs, Loan Disbursement Procedures section).
  12. Graduate students requiring Federal Direct Loan support year round (including summer sessions) should be sure to enroll as full-time students every loan period to avoid jeopardizing maximum loan eligibility. Full-time enrollment is defined as enrolling in at least nine credits per semester (including summer sessions) or twelve credits per semester with a minimum of six credits in the summer. In short, students must complete no less than eighteen credits over two consecutive enrollment periods (e.g. two semesters or a semester and a summer session) before being able to apply for loans in the Federal Direct Program at the successive annual maximum currently set at $18,500 by federal regulation. There are no exceptions to this rule.

All inquiries concerning financial assistance for graduate students through either federal loan or employment programs should be directed to:

Office of Financial Aid to Students
University of Virginia
918 N. Emmet Street
P.O. Box 9021
Charlottesville, VA 22906-9021
Telephone: (804) 982-6000; (804) 982-HEAR V/TDD
E-Mail: faid@virginia.edu
Office Hours: 8:00 to 5:00, Monday through Friday


Continue to: Chapter 4: University Regulations
Return to: Chapter 3 Index