Rights and Responsibilities

You have the right to know:

• What financial aid programs are available.
• Application deadlines for each of the programs.
• How financial aid will be distributed; how distribution decisions are made and the basis for those decisions; how your financial need was determined, including how costs for tuition and fees, room and board, travel, books and supplies, and personal expenses were considered in your budget.
• How much of your financial need has been met.
• What resources (such as parental contribution, other financial aid, personal assets) were considered in the calculation of your need.
• What portion of the aid you received is grant and what portion must be repaid or earned. If you are awarded a loan, you have the right to know the interest rate, the total amount to be repaid, repayment procedures, the date repayment begins and the length of the repayment period.
• How the school determines whether you are making academic progress and what happens if you are not.
• An explanation of each program in your aid package.

You must:

• Complete all application forms accurately and submit them on time.
• Provide correct information. Deliberate misreporting of information on financial aid applications is a violation of the law and may be considered a criminal offense. If errors are noted when application results are received, needed corrections should be brought to the attention of the Financial Aid Office at Luther and to other colleges to whom the FAFSA results have been sent.
• Return all additional documentation, verification, corrections and/or new information requested by either the Financial Aid Office or the agencies to which you submitted applications. You are responsible for reading, understanding and keeping copies of all forms you are asked to sign.
• Accept responsibility for all agreements that you sign.
• Perform the work agreed upon in a work-study job.
• Notify your work-study employer if your work eligibility is canceled or the amount changes.
• Be aware of and comply with the deadlines for aid application or reapplication.
• Know and comply with Luther’s refund procedures.
• Maintain satisfactory academic progress according to the policies and standards of the college.
• Notify the Financial Aid Office in writing if the circumstances reported on your application change, or if any additional awards from an outside source will be received.

If you are a recipient of a Federal Direct Stafford or PLUS Loan, notify the Direct Loan Servicer should any of the following occur before the loan is repaid:

• You change your address.
• You graduate.
• You withdraw from school or are enrolled less than half-time.
• You change your name (e.g., maiden to married name).
• You transfer to another school.          

If you borrowed for attendance at another college before transferring to Luther, contact previous lenders to request proper loan deferment forms, complete your portion, and take the forms to the Registrar’s Office at Luther for completion.