LEGAL RESPONSIBILITIES OF FINANCIAL AID RECIPIENTS
The student must complete all application forms accurately and submit them on time to the appropriate location.
The student must provide correct information. The intentional misreporting of information on financial aid application forms is a violation of the law and is considered a criminal offense which could result in indictment under the U.S. Criminal Code.
The student must return all additional documentation, verification, corrections, and/or new information requested by either the Financial Aid Office or the agency to which an application was submitted.
The student must report to the Financial Aid office any additional financial resources received by him/her during the period of his/her financial aid award.
The student is responsible for reading and understanding all forms that he/she is asked to sign and for keeping copies of the forms.
The student must accept responsibility for all agreements that he/she signs.
The student must perform the work that he/she has agreed upon in accepting College Work-Study or regular student employment.
The student must be aware of and comply with the deadlines for application or reapplication for aid.
The student should be aware of the school’s refund policy.
All schools must provide information to prospective students about the school’s programs and performance. The student should consider this information carefully before deciding to attend school.
If the student receives a loan, he/she must notify the lender if any of the following occurs before the loan is repaid:
Loan recipients must complete loan entrance counseling and exit counseling each year.
The student must repay any loan received at BC, plus accrued interest, in accordance with the repayment schedule.
In borrowing money, the student assumes the responsibility for repaying the loan. If circumstances arise that make it difficult to meet this responsibility, he/she should contact the lender.
The student must notify the lender of any occurrence which may affect eligibility for a deferment of repayment.