Rights and Responsibilities

Student "Rights" Related to Financial Aid - You have the right to know:
 
  • The cost of attendance
  • The refund policy for students who withdraw
  • What financial assistance is available from federal, state, and institutional sources
  • Procedures and deadlines for submitting applications for financial aid
  • How financial aid recipients are selected
  • How your eligibility was determined, including all resources the aid office considered available to you
  • How and when funds will be disbursed to you
  • An explanation of each type of award you receive
  • For any student loan you receive: the interest rate, total amount you must repay, when your repayment begins, the length of your repayment, and the cancellation and deferment provisions applicable to your loan
  • For any Federal Work Study job: a description of the job, the hours you must work, the rate of pay, and how and when you will be paid
  • The criteria used to determine satisfactory academic progress for financial aid purposes
  • How to request a review of a decision by the Office of Student Financial Aid concerning your aid package

Student "Responsibilities" Related to Financial Aid - It is your responsibility to:

  • Read directions thoroughly, complete all application forms accurately, and to comply with any deadlines Provide any supplemental information or documentation required by the Office of Student Financial Aid or other agency as applicable
  • Read, understand, and keep copies of any forms you are required to sign
  • Repay any student loans you may receive
  • Attend an entrance interview and an exit interview if you receive federal student loan while in attendance at Alcorn State University
  • Notify the Office of Student Financial Aid of any change in your enrollment, housing, or financial aid status (including any scholarships or grants received from outside sources). Change of address and enrollment status must also be reported to your l lender if you have a loan.
  • Satisfactorily perform the work agreed upon in a Federal Work Study job
  • Know and comply with all requirements for continuation of financial aid, including satisfactory academic progress requirements.

Additional Financial Aid Information:

  • Financial Aid Awards are contingent upon admission as a regular student and enrollment at the University. A student may not be eligible for some types of financial aid, if not admitted as a regular, degree seeking student.
  • Students must reapply for financial aid each academic year. Summer applications are available in the financial aid office or under Financial Aid Forms online if you plan to attend summer school.

Over Awards
Financial aid recipients may not receive funds in excess of their financial need. This occasionally occurs when students receive funds from other sources or agencies. When over awards occur, the Financial Aid Office is required to adjust student's financial aid award packages. Students may be required to repay funds they are not eligible to receive.

  • Enrollment Status - awards are calculated based on full-time enrollment. If a student will not register as full-time, please notify the Financial Aid Office immediately. Federal Direct Loan recipients MUST be enrolled at least half-time at the time of loan disbursement
  • Summer School is considered to be at the end of the year for awarding financial assistance. The eligibility of each student's aid is based upon remaining annual limits for grants and loans. Please Note: Students that receive their maximum eligibility during the fall and spring semesters may not have any remaining eligibility for summer school. Students wishing to attend summer school should complete a summer application in the spring semester.

Cost of Attendance (COA) 
The cost of attendance (COA) for a student is an estimate of that student’s educational expenses for the period of enrollment. COA includes tuition and fees, room and board expenses while attending school and other miscellaneous expenses. Your cost of attendance is located at www.alcorn.edu (BANNER Online Services). 

Refunds  
When a Federal Student Aid recipient withdraws, drops out, or is expelled after receiving a cash disbursement for non-institutional costs, the University will determine whether the student has received an overpayment. The Business Office will calculate this amount based on a formula mandated by the Department of Education. The student will be notified by the Business Office of the amount owed to the federal student aid programs. If the student does not repay the amount owed, he or she is ineligible for further financial aid and will be reported as being in overpayment to NSLDS. See your Financial Aid Counselor for additional information.

Types of Financial Assistance Available  
If you need an explanation of the type of award you received on your award letter, please contact the financial aid office. 

  • Procedures and Deadlines for Submitting Financial Aid Applications  
  • How Financial Aid Recipients are Selected and How Eligibility was Determined 

Financial aid recipients are selected based on eligibility, availability of funds and file completions. It is important to complete the FAFSA if applying for federal aid. Contact the Office of Financial Aid if you have questions concerning how eligibility was determined. 

How and When Aid Will Be Disbursed  

The student will receive an award letter (if eligible for financial assistance) once file has been reviewed and deemed completed. Award letters are available via online services at www.alcorn.edu. After the last day of registration, class attendance will be verified. This process will take approximately one week after registration has closed. All students receiving financial aid must attend classes before receiving a refund. Once verification received, aid will be authorized