3: Financial Aid
General Information |
Student Employment |
General Requirements for Financial Aid
Student Rights and Responsibilities Regarding
Student Rights and Responsibilities Regarding Financial Aid
The Rights of Federal Aid Recipients Include:
- The right to know what financial aid programs are available (see
section on Financial Aid Programs).
- The right to know application deadlines for each program (see section
on Application Procedures and Loans).
- 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 section on General Information, and the Federal
Work-Study Award Letter).
- 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).
- The right to request an explanation of the funds included in the
student aid package (see section on Financial Aid Programs).
- The right to know the schoolís refund policy (see chapter 2).
- The right to know which of the funds in the aid package are loans 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 section on Loans).
The Responsibilities of Federal Aid Recipients Include:
- Completing all application forms accurately and submitting them to
the appropriate agency or office by the specified deadline.
- 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.
- 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.
- Reading, understanding, and maintaining copies of all forms requiring
the filerís signature.
- Accepting responsibility for all signed agreements, including
repayment obligations for student loans.
- Performing the work agreed upon when accepting a Federal Work-Study
- Being aware of University refund policies and procedures.
- Receiving the Ford Federal Direct Loan entrance interview materials
which contain borrower obligation information for first-time borrowers.
- 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.
- Maintaining current and accurate address information with the Office
of the University Registrar, Carruthers Hall.
- Completing the registration process and enrolling in courses early
in the semester in order to receive loan disbursements on a timely basis
(see section on Loan Disbursement Procedures).
- Graduate students requiring Federal Direct Loan support year-round
(including summer session) 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 session) 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
Office of Financial Aid to Students
University of Virginia
P.O. Box 9021
918 Emmet Street N.
Charlottesville, VA 22906
Telephone: (804) 982-6000
(804) 982-HEAR V/TDD
Office Hours: 8:00 to 5:00, Monday through Friday
Continue to: Chapter 4: University Regulations
Return to: Chapter 3 Index