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Financial Aid Rights and Responsibilities

In applying for financial aid, students accept certain rights and responsibilities. Failure to comply with these responsibilities may result in the cancellation or reduction of their financial aid.

Students have the right to know:

  • What financial aid programs are available
  • How financial aid is determined
  • The resources considered in calculating the individual financial need
  • Appeal procedures for financial aid decision
  • The requirements for continued eligibility
  • The cost of attending OLLU
  • OLLU's refund policy
  • The financial aid disbursement policy
  • What portion of the financial aid received must be repaid and what portion is grant aid
  • Source and amount of each type of aid that is offered
  • Certain statistics, policies and descriptions of programs that promote campus safety
  • The general conditions and terms under college work-study program
  • The success rate of OLLU's full-time undergraduate students who graduate, complete a program of study or transfer out to another institution
  • Information about the student's rights under the Family Educational Rights and Privacy Act (FERPA).

It is the student's responsibility to:

  • Be the primary source for meeting the cost of education
  • Inform the financial aid office of any changes in enrollment status
  • Meet satisfactory academic progress requirements
  • Complete all applications and forms accurately
  • Use financial aid funds solely for educational purposes
  • Promptly submit all additional documentation, verification and new information requests by the financial aid office
  • Inform the financial aid office of any name, address or social security number changes
  • Read, understand and keep a copy of all forms that you are asked to sign
  • Repay all loans according to the terms agreed upon at the time the loan was accepted and the promissory note signed
  • Declare a degree objective and to only enroll in classes that are part of the degree plan. Financial aid will not pay for classes that are not part of the degree plan at OLLU.