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Legal Liabilities

LEGAL LIABILITIES

  1. Accepting financial aid funds for which you are not eligible is a violation of Federal and State laws subjecting you to strict penalties, which may include a fine and/or imprisonment. 
  2. If your registration changes after receiving funds, your eligibility will be recalculated and you may become liable for aid received for which you are no longer eligible.  
  3. You are required to use all funds received for educational purposes as agreed.  
  4. Caution: Do not accept funds if there is any doubt about your completing the term, enrollment process or your eligibility.  
  5. Funds disbursed to you as a result of an error, regardless of the source of error, must be repaid in full by the student, including collection agency costs, if necessary.  
  6. If you owe a refund of Federal or State financial aid to an institution or are in default (past due) in the repayment of a Federal or State educational loan, you must contact the Financial Aid Office immediately.  
  7. Withdrawing from school or dropping below 1/2 time initiates the start of your grace period and repayment process for your student loans. You are required to notify the servicer of your loans, including prior lenders, of your change in enrollment. Please refer to your promissory note for details. 
  8. If you accept grant, loan and other aid and then move up your graduation to the start of that term, you become ineligible for the aid you received including Pell, SEOG, and State Grant. You must contact the Financial Aid Office immediately and return all funds which you were ineligible to receive. The aid used to pay your tuition for the term will be returned to the proper accounts and you will be liable for all school costs incurred.  
  9. Withdrawing, ceasing to attend, or failing to pass courses, may require the repayment of financial aid funds as determined by Federal, State and institutional regulations and policies.