Financial Aid - Rights and Responsibilities


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Home > Admissions > Financial Aid > Rights and Responsibilities

Rights and Responsibilities

Summary of Student Consumer Rights and Responsibilities

A student who receives financial aid from Goldey-Beacom College has the following rights: to know the costs of attendance to the institution; to know all available sources of financial aid; to speak with a Financial Aid Advisor who evaluates the student's need; to be informed of all aspects of the financial aid package awarded including special dispersal of aid; and to know the academic expectations of the institution.
A student who receives financial aid from Goldey-Beacom College also has the following responsibilities: to apply for financial aid by the established deadline as determined by Goldey-Beacom College; to report to the Financial Aid Office any awards received from agencies outside the College; to maintain satisfactory academic progress; to comply with established loan repayment schedules; to report to the Financial Aid Office any changes in family or student financial status.
The student's financial aid awards may be cancelled or reduced if: (a) any of the information on the financial aid applications is erroneous; (b) requested documents are not provided to validate eligibility; (c) enrollment status changes; (d) the student's program of study changes.

Withdrawal From College

Upon a Title IV federal financial aid recipient's withdrawal from the institution, the federal refund calculations or institutional refund calculation will apply. Students and/or parents interested in learning more about the federal refund calculation should contact the Financial Aid/ Advisement Office.
For a student to be considered officially withdrawn from the College, a student must complete a Withdrawal Form in the Financial Aid/Advisement Office. Student withdrawals due to substantiated medical reasons require the submission of medical documentation within thirty (30) days from the date of withdraw. The official withdrawal date will be determined as the date on which the official Withdrawal Form was received by the Financial Aid/Advisement Office.
A student who withdraws owing an outstanding debt to the College is expected to contact the College's Business Office to immediately clear the debt. Student referral to collection agencies and credit bureaus are at the discretion of the College. Students will be charged all collection and legal fees that the College incurs in attempting to clear the debt.
In the event of a withdrawal from the College, the student must place a priority on contacting the Financial Aid/Advisement Office to learn more about federal student loan exit counseling which presents information on repayment options and loan consolidation.