Student Responsibilities and Financial Obligations
The purpose of student financial aid is to provide financial resources for students who would otherwise be unable to pursue a postsecondary education. Even though student financial aid may be available to you, the primary responsibility for meeting institutional costs lies with you and your family.
To receive financial assistance, you must be:
- Admitted to the college
- Enrolled in a program of study which leads to a degree
- In good academic standing
- Making satisfactory academic progress
If you are admitted to a degree program on a provisional or conditional basis, you may not be eligible for financial assistance according to the college’s Financial Aid Handbook. According to federal regulations, financial aid recipients must be U.S. citizens or eligible non-citizens; must not owe a refund on grants previously received under the Pell Grant, the Federal Supplemental Educational Opportunity Grant or the Leveraging Educational Assistance Partnership (LEAP) program; or be in default on any federal student loans borrowed from federal funding.
Subsidized/Unsubsidized Student Loans
The most important word here is “loan.” If you accept federal financial aid in the form of either a subsidized or unsubsidized Federal Direct Loan, it is a loan. You will be required to repay this loan once you have completed your degree program. Even if you withdraw from Urshan, you will be required to pay back any loan funds you have borrowed. Before you apply for aid, consider how you plan to repay the loans. Interest rates are currently modest, and repayment terms are reasonable, but you must be prepared to repay them whether you graduate or not.