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Rights and Responsibilities of Receiving Financial Aid

In order to remain eligible for federal student aid and state aid, you must maintain satisfactory academic progress. You may need to complete a renewal FAFSA at www.fafsa.gov for future payment periods that were not covered by your original application.

Please click here to review the Satisfactory Academic Progress policies for students receiving federal student aid.

Many students who apply for financial aid must complete a Verification process in order to confirm the information on the FAFSA. If your file is verified, you will need to provide additional documentation. The Financial Aid Office will notify you in writing which documents and information you need to provide. You must complete all documentation prior to receiving any disbursements. The Financial Aid Office might be able to make retroactive disbursements for payment periods already completed in some cases, but this is not guaranteed. Students are required to submit a valid ISIR while they are in school and must complete verification within 90 days of leaving school or September 1 of the following award year, whoever comes first. If a student does not complete verification, the student forfeits financial aid for the award year.

Once the Financial Aid Office has received all the required paperwork to determine your eligibility, they will give you an Award Letter. This Award Letter will show you how much you are eligible to receive. It will also tell you the period of time which each disbursement will cover, also known as a payment period. The payment period is an estimate of how long it will take you to complete the clock hours that each disbursement covers. Please note that you must complete all the required seat hours and the coursework associated with the hours for each payment period before you move on to the next payment period.

You can make corrections to your FAFSA at fafsa.gov. If you update your FAFSA, please be aware that this may change your financial aid eligibility. The Financial Aid Office will notify you in writing within 30 days if your award amounts change.

All disbursements and refunds are made at the cashier’s office. Most disbursements are applied to your student account within the first two weeks of each payment period. Any school costs related to the payment period will be deducted from the financial aid disbursement. If you have a remaining credit balance once all school costs have been deducted, the cashier will refund the credit balance to you within 14 days after the disbursement was applied to your account. The cashier will notify you when the refund check is available. Please keep your contact information (mailing address, email, and phone number) current.

Confirmed financial aid applicants may qualify for tuition and book deferrals (maximum book deferral is $300), and must be deferred prior to the financial aid credit refund being made to the student. This allows students who have not received their Pell disbursements to purchase their required books from the campus bookstore within seven days of their payment period beginning. Students are encouraged to check with their instructor for a complete and current list of required books and supplies. Many of the textbooks and supplies are provided in the classroom. While most books are available in the campus bookstore, many students like to shop around for the best price on textbooks. Oftentimes, books can be purchased for less money from another retailer.

Please note that Francis Tuttle will only be participating in the Stafford Loan program through the 2012-13 school year. After that point, you will no longer be allowed to borrow Stafford loans through the institution. Because we have kept our tuition costs low and many students receive other types of financial aid, most students do not need to borrow loans in order to cover their direct schools expenses. If you do borrow student loans, please click here for the terms of the loan and for information on loan counseling. It is very important that you repay your student loans. If you stop making payments and don’t get a deferment or forbearance, your loans could go into default, which has serious consequences. Please click here for more information on loans repayments, deferments, forbearance, and default.

Federal Work-Study is available for qualified students who want to earn money to pay for school. For more information on the conditions and terms of the Federal Work-Study program, please click here.

 
 
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12777 N. Rockwell Ave Oklahoma City, OK 73142 • Phone 405.717.7799